SEC Fraud

Understanding Whistleblower Lawsuits Under Current Commodities Trading Laws

The Dodd-Frank Act, enacted in 2010, is dedicated to avoiding the financial misconduct which gave rise to America’s financial crisis of 2008. Under this Act, there is a provision focused on whistleblowers with original knowledge of fraud in the commodities trading industry. What is commodities trading? Commodities trading is better understood by first exploring the [...]

Anonymous Whistleblower Takes Record Qui Tam Award

Under the False Claims Act (FCA) and various other federal and state anti-fraud statutes, whistleblowers may recover a certain percentage of any money recovered by the government as a result of the relator’s willingness to come forward. In many cases, whistleblowers choose to remain anonymous for fear of retaliation or other negative reactions within the [...]

The Dodd-Frank Act and FCPA Whistleblowers

The federal government uses the Foreign Corrupt Practices Act ("FCPA") as a means to prosecute and punish those individuals who violate securities laws or bribe foreign officials. For instance, when someone bribes a foreign government to expand business abroad, falsifies financial records or disregards internal control guidelines under securities laws, they can be prosecuted [...]

Investment Advisors Charged in Securities Fraud Scheme

The Securities and Exchange Commission (SEC) recently announced charges were being filed against one investment adviser and settled with another for both their roles in a scheme to misappropriate funds. Jorge Gomez, who formerly operated in Dallas and Mexico, is now facing charges for allegedly funneling millions of dollars from an investment advisory client. The [...]

Second Dodd-Frank Whistleblower Award Announced in Hedge Fund Scheme

After assuring citizens they would soon see additional whistleblower rewards from the Securities and Exchange Commission (SEC), officials were proud to announce the issuance of a substantial Dodd-Frank whistleblower award. This second-ever Dodd-Frank whistleblower award results from a district court ruling that ordered Locust Offshore Management and its CEO, Andrey C. Hicks, to pay $7.5 [...]

Court Rules Employee is Entitled to Dodd-Frank Whistleblower Protections

Setting an important precedent for all SEC whistleblowers, a district court recently issued a ruling concerning the anti-retaliation provisions of the Dodd-Frank Wall Street Reform & Consumer Protection Act. Last month, the court ruled that whistleblowers need not report incidents of fraud directly to the United States Securities and Exchange Commission (SEC) in order to [...]

Two Defendants Settle Gold Mine Securities Fraud Case with SEC

Two of three defendants have opted to settle in a securities fraud action that allegedly defrauded investors of approximately $2.7 million. In 2012, the Securities and Exchange Commission (SEC) charged a father, son and daughter team with the orchestration of a wide-reaching securities fraud scheme centered on a bogus $11 billion gold mine located in [...]

Understanding the Dodd-Frank Whistleblower Provisions

Both the government and whistleblowers alike have historically relied on the False Claims Act as a primary tool to end to fraud. It is important to understand, however, that the False Claims Act does have limitations. The largest one being that it only applies to instances in which the United States government has been [...]

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