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Eccleston Law Blog

SEC Charges Creator of CoinDeal Crypto Scheme and Seven Others Over $45 Million Fraud

January 17th, 2023 at 1:57 PM
The Securities and Exchange Commission (SEC) has changed Neil Chandran, Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo, LLC for their involvement in a fraudulent investment scheme known as CoinDeal, which raised at least $45 million from sales of unregistered securities.
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SEC Charges Former SPAC CFO For Misappropriating Nearly $5 Million

January 16th, 2023 at 2:39 PM
The Securities and Exchange Commission (SEC) has changed the former CFO of African Gold Acquisition Corp., a special purpose acquisition company (SPAC), for misappropriating at least $5 million from the company and investors in two other SPACs that he had incorporated. 
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Coinbase Agrees to $100 Million Settlement With New York Regulators

January 13th, 2023 at 12:27 PM
Coinbase Global Inc., has agreed to a $100 million settlement with New York Regulators over allegations that the cryptocurrency exchange permitted customers to open accounts without conducting adequate background checks. 
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FINRA Proposes Changes To Arbitration Selection Process

January 12th, 2023 at 3:38 PM
The Financial Industry Regulatory Authority (FINRA) has proposed rule changes to “enhance the transparency of the arbitrator selection” and other alterations aimed to improving its dispute resolution services. 
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FINRA Penalizes Center Street Securities Over Improper GPB Private Placement Sales

January 11th, 2023 at 1:41 PM
The Financial Industry Regulatory Authority (FINRA) has imposed a fine on Center Street Securities after the financial advisory firm improperly sold GPB private placements. 
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FINRA Penalizes Morgan Stanley For Shortchanging Clients $800,000 In Fund Fee Rebates

January 10th, 2023 at 1:08 PM
Morgan Stanley has agreed to pay $802,000 in restitution to clients after a Financial Industry Regulatory Authority (FINRA) investigation found that the firm’s supervisory system had shortchanged some clients on mutual fund fee rebates between 2015 and 2021.
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Law Firms Investigate Potential Claims Against Silvergate Capital on Behalf of FTX Customers

January 9th, 2023 at 3:01 PM
Law firms are investigating potential claims against Silvergate Capital on behalf of FTX customers who wired fiat currency to Alameda Research.
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FINRA Settles With Coastal Equities Over Improper GPB Private Placement Sales

January 6th, 2023 at 12:54 PM
The Financial Industry Regulatory Authority (FINRA) has agreed to a $418,000 settlement with Coastal Equities over sales in 2018 of GPB private placements. 
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GWG Bondholders Prepare To File Suit Against Financial Advisory Firms and Executives

January 5th, 2023 at 10:36 AM
A group representing nearly 27,000 retail investors is set to file suit against GWG Holdings’ executives as well as the financial advisory firms that marketed and sold $1.6 billion worth of GWG L bonds, according to a recent bankruptcy court filing in Houston. 
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GWG Obtains Debtor-In-Possession Loan

January 4th, 2023 at 2:08 PM
GWG Holdings has obtained a super-priority secured debtor-in possession loan and guaranty agreement to receive money to fund the company’s operations amidst bankruptcy proceedings, according to a filing with the Securities and Exchange Commission (SEC).
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LATEST NEWS AND ARTICLES

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SEC Charges Long Island RIA and Executives in $138 Million Private Fund Scheme

A Long Island-based registered investment adviser and two of its senior executives now face parallel civil and criminal proceedings tied to an alleged scheme involving conflicted private fund investments, as reported by InvestmentNews.

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