Tagged with "Department of Justice"

Tipster Informed FBI About College Admissions Scam in Order to Receive A Reduced Sentence for his Role in a Securities Fraud Case

Posted on March 18th, 2019 at 11:26 AM
Tipster Informed FBI About College Admissions Scam in Order to Receive A Reduced Sentence for his Role in a Securities Fraud Case

According to a Wall Street Journal article, California financier, Morrie Tobin provided a critical tip to the FBI about the college admissions scam (aka Operation Varsity Blues) in order to get a reduced sentence for his role in an unrelated securities fraud case.

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Virginia Investment Adviser Sentenced to 13 Years in Prison in Connection with Operating a $5 Million Ponzi Scheme

Posted on February 8th, 2019 at 10:27 AM
Virginia Investment Adviser Sentenced to 13 Years in Prison in Connection with Operating a $5 Million Ponzi Scheme

According to the U.S. Department of Justice, Virginia investment adviser, Edward Lee Moody Jr. has been sentenced to 13 years in prison after pleading guilty to mail fraud and other related charges in connection with orchestrating a 13-year Ponzi-scheme.

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President Trump’s Memo is Unclear on Directive to Delay DOL Fiduciary Rule

Posted on February 7th, 2017 at 9:19 AM
President Trump’s Memo is Unclear on Directive to Delay DOL Fiduciary Rule

President Trump has sent a memo regarding the Department of Labor’s fiduciary duty rule. 

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Ponzi Scheme Operator Charged with Fraud

Posted on November 23rd, 2016 at 9:33 AM
Ponzi Scheme Operator Charged with Fraud

Carlos Maldonado, owner of Business Planning Resources International Corporation (BPRIC), and associated under the incorporation documents with Pet Card Systems, Inc., and Datavos Corporation, was arrested and charged with securities fraud and bank fraud . 

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LATEST NEWS AND ARTICLES

October 20, 2021
5 First-of-Their-Kind SEC Enforcement Actions Announced

Securities and Exchange Commission (SEC) Enforcement Director Gurbir Grewal recently discussed notable first-of-their-kind enforcement actions that his division has pursued.

October 19, 2021
FINRA Targets SPACs in Most Recent Exam Sweep

The Financial Industry Regulatory Authority (FINRA) has begun an examination sweep of advisors’ involvement with special purpose acquisition companies (SPACs).

October 18, 2021
SEC’s Statement on Complex Exchange-Traded Products

The Securities and Exchange Commission (SEC) recently voted to approve a pair of rule changes proposed by Cboe BZX Exchange, Inc. to list and trade shares of new exchange traded-products: the 2x Long VIX Futures ETC and the -1x Short VIX Futures ETF.