The Financial Industry Regulatory Authority is charging John Carris Investments LLC with misleading and bilking investors. It seeks a cease and desist order against the financial firm and George Carris, its CEO, to immediately stop soliciting customers to buy Fibrocell Science, Inc. stock without giving them the correct disclosures. The…
The Securities and Exchange Commission is charging Canadian stock promoters James Hinton, John Kirk, and Benjamin Kirk, and their associates with employing misleading and false promotions to inflate trading in two microcap companies. As a result, they allegedly made millions of dollars after dumping their shares in a pump-and-dump scheme.…
A district court has approved ex-Morgan Stanley (MS) executive Garth Peterson’s civil settlement with the Securities and Exchange Commission over alleged Foreign Corrupt Practices Act violations. In SEC v. Garth Peterson, the plaintiff agreed to pay $241,589 in disgorgement and give up his interest in an apartment building in China.…
18 years after he was immortalized in the movie “Rudy,” Daniel Ruettiger and 12 others now face Securities and Exchange Commission charges. They are accused of misleading investor to get them to purchase stock in Ruettiger’s sports drink company Rudy Nutrition. Their alleged pump-and-dump scam resulted in over $11 million…
Industrial Enterprises of America Inc. (IEAM) is accusing Baker & McKenzie, LLP and former partner Martin Weisberg of securities fraud. The $600 million lawsuit, filed in US Bankruptcy Court, accuses the defendants of setting up a legal structure that allowed for an illegal pump-and-dump scheme and causing the company to…
FBI agents have arrested Christopher Rad, a Texas man who is charged with one count of conspiracy to commit securities fraud and transmit email messages. Rad, 42, is the alleged ringleader of an international securities fraud group accused of working with botnet operators, hackers, and email spam in a pump-and-dump…
An indictment has been unsealed today accusing six people of securities fraud in a stock manipulation scam that bilked investors between 2003 and 2008. The Securities and Exchange Commission has also filed a civil complaint related to this case. The defendants are securities attorney Michael Simon Krome, Jonathan Randall Curshen,…
Gregg M. Berger, an ex-Gilford Securities broker, has been indicted for conspiracy over his alleged involvement in a global pump and dump stock fraud scheme involving thinly traded Israeli and Chinese securities. He is charged with wire fraud and securities fraud. The SEC has also filed related civil securities fraud…