Federal Securities Laws

Mortgage Fraud Scheme Lands Real Estate Developer Behind Bars

Brooklyn U.S. Attorney Loretta Lynch recently announced the arrest of a New York real estate developer for his participation in a long and torrid mortgage fraud scheme. Schelton Assoumou, owner of Brooklyn Renaissance Development Inc., was taken into custody on January 15 and appeared later that same day before United States Magistrate Judge Robert M. [...]

By | 2018-09-13T12:12:54+00:00 June 20th, 2013|Mortgage Fraud|

Securities Fraud: SEC Charges Investment Advisor for Defrauding Investors

The Securities and Exchange Commission (SEC) announced charges against a Louisiana-based hedge fund manager for defrauding investors of millions of dollars in mortgage-backed securities fraud scheme. Walter A. Morales and his firm, Commonwealth Advisors Inc., are accused of covering up massive losses that were suffered from investments associated with residential mortgage-backed securities during 2007 and [...]

By | 2018-09-24T14:56:58+00:00 June 19th, 2013|SEC Fraud|

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 [...]

By | 2018-10-04T15:50:20+00:00 June 12th, 2013|SEC Fraud|

Lengthy List of Securities Fraud Charges Result in a 17 Year Sentence for Defendant

On April 26, following a litany of charges brought by the Securities and Exchange Commission (SEC), a Massachusetts man was sentenced to 17 years in federal prison by United States District Judge Denise J. Casper. Arnett L. Waters, a former investment advisor and principal broker-dealer, plead guilty to seven counts of securities fraud, six counts [...]

By | 2018-09-12T15:33:24+00:00 June 6th, 2013|SEC Fraud|

SEC Files Securities Fraud Charges Against Venture Capitalist for Stealing Investor Funds

The Securities and Exchange Commission (SEC) recently charged a former Oregon gubernatorial political candidate and his lawyer with operating an investment scam selling pre-IPO shares of Facebook, LinkedIn, Groupon, and Zynga. The SEC charged Craig Berkman, a Portland venture capitalist, with the facilitation of securities fraud of at least 120 investors. Berkman allegedly operated an [...]

By | 2018-09-24T14:43:28+00:00 April 3rd, 2013|Healthcare Fraud|

Everything You Need to Know About the SEC Whistleblower Program

The Securities and Exchange Commission (SEC) is the federal agency responsible for regulating the securities industry and for enforcing federal securities laws. The SEC protects the public against fraudulent and manipulative practices in the securities markets. Congress created the SEC Whistleblower Program as a way to offer incentives to those people who have knowledge about securities fraud. The [...]

By | 2018-06-13T11:28:37+00:00 February 14th, 2013|SEC Fraud|