Paul Mata, the founder of Logos Wealth Advisors, has been barred by the U.S. Securities and Exchange Commission. Mata and fund manage David Kayatta, whom the SEC has also barred, are accused of fraudulently raising over $14M in investor funds. Mata drew in investors through investment seminars and online videos…
Caldwell International Securities Gets $2M Fine to Settle Churning Allegations The Financial Industry Regulatory Authority has imposed a $2M fine on Caldwell International Securities Corp. It is fining Greg Caldwell, who is the principal of the financial firm, $50K. He is now barred from serving as a principal in the…
Richard Weed, a financial services lawyer, has been sentenced to four years in prison over his involvement in a stock scam involving a number of publicly trading companies. His sentence was issued in the U.S. District Court in Boston. Weed was convicted of securities fraud and wire fraud in May.…
The U.S. Securities and Exchange Commission has imposed penalties against more than a dozen investment advisory firms because they purportedly spread false claims made by F-Squared Investments about its Alpha Sector strategy. The SEC said that the firms violated securities laws. According to the regulator, which conducted an enforcement sweep,…
Apollo Global Management (APO) has agreed to settle for $52.7M allegations that the firm misled fund investors regarding fees and a loan agreement, as well as failed to supervise a senior partner. The settlement was reached with the U.S. Securities and Exchange Commission, which found during its probe that Apollo…
Investment Advisor Firm Accused of Paying Off Terminally Ill Patients to Commit Fraud The SEC has filed fraud charges against Donald Lathen and his Eden Arc Capital Management. Lathen is accused of recruiting at least 60 individuals who had less than six months to live and agreeing to pay them…
A jury has Sean Stewart, the ex-managing director of Perella Weinberg Partners LP of insider trading. Stewart is accused of giving his dad confidential tips about five health-care deals. According to prosecutors, Stewart started giving his dad insider information in 2011 while he was VP of J.P. Morgan Chase &…
Edwin Chin, an ex-Goldman Sachs Group Inc. (GS) senior trader, will pay $400K to resolve U.S. Securities and Exchange Commission charges accusing him of misleading the bank’s customers when he sold them residential mortgage-backed securities at prices that were higher than they should have been. Even though he is settling,…
The U.S. Securities and Exchange Commission has filed a financial fraud lawsuit against Nicholas M. Mitsakos and his Matrix Capital Market. Mitsakos and his investment advisory firm are accused of pretending that they managed millions of dollars in assets. They allegedly stole about $800K from the first client that invested…
Merrill Robertson Jr., an ex-Philadelphia Eagles football player, is charged with financial fraud. According to the Securities and Exchange Commission, Robertson bilked investors in a $10M scam. The SEC claims that Robertson, Sherman Vaughn Jr. and their Cavalier Union Investments LLC promised investors they would invest in diversified holdings. Instead,…