The Securities and Exchange Commission (SEC) has announced allegations against Wilson Baston, accusing him of engaging in a Ponzi scheme that defrauded multiple investors. Baston allegedly amassed millions of dollars via dozens of transactions, ostensibly to finance real estate investments. Instead, it is charged that he frequently utilized these funds to settle debts with previous [...]

The Securities and Exchange Commission (SEC) has announced allegations against audit firm Marcum LLP for systematic quality control issues and audit standard violations. These charges are associated with the audit work they performed for hundreds of special purpose acquisition company (SPAC) clients, which started as early as 2020. However, the SEC's order indicated that the [...]

The Securities and Exchange Commission today filed a settled action against registered investment adviser Infinity Q Capital Management, LLC for mispricing the net asset value, or "NAV," of its public mutual fund and private fund as part of a massive overvaluation scheme. The SEC's complaint seeks an order appointing a monitor to oversee the return [...]

The Securities and Exchange Commission (SEC) revealed that charges have been settled against BHP Capital NY, Inc., a dealer of convertible notes, and its managing member, Bryan Pantofel. The charges were based on their failure to register as securities dealers with the SEC. Pantofel and BHP Capital have agreed to a settlement, which includes a [...]

The Securities and Exchange Commission (SEC) has taken legal action against Native American Energy Group, Inc., its CEO, Joseph D'Arrigo, and David Hudzik, a former consultant of the company. The charges relate to violations of antifraud and registration components of federal securities laws, linked to a substantial offering fraud. The SEC's lawsuit contends that the [...]

The Securities and Exchange Commission (SEC) revealed that Pacific Investment Management Company LLC (PIMCO), a registered investment adviser, has agreed to a $9 million settlement concerning two enforcement actions. These actions pertain to violations associated with disclosure and policies, as well as procedures involving two funds advised by PIMCO. In the initial enforcement action, the [...]

The Securities and Exchange Commission (SEC) took legal action against Patrick Thayer from Cincinnati, Ohio. Thayer, who was once a double-registered agent and financial advisory representative, stands accused of illicitly appropriating over $1.3 million from a client he advised. According to the SEC's lawsuit, Thayer covertly set up an account in a client's name in [...]

Today, the SEC has brought charges against Joseph A. Padilla and Kevin C. Dills, both residents of California. The SEC's lawsuit posits that Padilla orchestrated a fraudulent scheme to illicitly sell shares in several small-scale companies to the public from February 2020 through August 2022. Dills is alleged to have participated in Padilla's fraudulent operations [...]

The U.S. Securities and Exchange Commission (SEC) has initiated legal proceedings against Josh S. Verne over allegations of orchestrating a fraudulent scheme worth approximately $30 million. This scheme is believed to have ensnared more than 100 investors, with a significant number hailing from the Philadelphia region. The SEC's lawsuit contends that Verne swindled investors, including [...]