Tagged: enforcement

October 5, 2022 @ 9:47 am By JD Alois  |  

June 2021 Promotion by Kardashian has the potential of being viewed by 328 million followers in what many think may have been the “financial promotion with the single biggest audience reach in history.” There has been plenty of chatter about the US Securities and Exchange… Read More

October 4, 2022 @ 3:29 pm By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has penalized Choice Money Transfer, dba Small World Money Transfer, for multiple violations of the Remittance Transfer Rule and the Electronic Fund Transfer Act (EFTA), according to public statement. The CFPB claims that it found the company did not… Read More

October 4, 2022 @ 12:19 pm By JD Alois  |  

Yesterday, as was widely reported, well-known celebrity and influencer Kim Kardashian settled an enforcement action brought by the Securities and Exchange Commission (SEC). The infraction had to do with an Instagram post for EthereumMAX, the issuer of the EMAX token. The post, which was tagged… Read More

October 3, 2022 @ 2:17 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed a complaint against Adam Todd and four companies he controlled – Digitex LLC, Digitex Limited, Digitex Software Limited, and Blockster Holdings Limited Corporation. Filed in the U.S. District Court for the Southern District of Florida, the CFTC… Read More

October 3, 2022 @ 2:01 pm By Omar Faridi  |  

The US Securities and Exchange Commission (SEC) recently announced insider trading charges against two Canadian software engineers who reportedly “made $1.6 million by trading ahead of non-public, market-moving financial information.” According to the SEC’s complaint, from at least May 2018 to July 2021, Harpreet Saini… Read More

October 3, 2022 @ 8:24 am By JD Alois  |  

Global influencer, celebrity, and entrepreneur Kim Kardashian has settled charges with the Securities and Exchange Commission (SEC) regarding allegations of promoting a “crypto asset security” without revealing she was paid for touting the digital asset on social media. The promotion took place in June of… Read More

September 30, 2022 @ 1:21 pm By JD Alois  |  

While the Securities and Exchange Commission (SEC) keeps battling the courts, the courts keep telling the SEC to hand over the “emails and drafts” pertaining to the speech given by former SEC Corporate Finance Director William (Bill) Hinman discussing crypto in June of 2018. In… Read More

September 28, 2022 @ 6:35 pm By JD Alois  |  

The Securities and Exchange Commission (SECI  has filed charges against The Hydrogen Technology Corporation, former CEO, Michael Ross Kane, and Tyler Ostern, the CEO of Moonwalkers Trading Limited, for allegations regarding the sale of unregistered “crypto asset securities” of Hydro. The SEC also alleges that… Read More

September 22, 2022 @ 10:58 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed a civil injunctive action against James Arthur McDonald, Jr. The SEC noted that McDonald was previously a guest commentator for CNBC – the leading financial news network. The charges were filed against McDonald and his SEC-registered investment… Read More

September 19, 2022 @ 3:31 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) says it has issued a Cease & Desist against Sparkster Ltd., and its CEO Sajjad Daya for offering unregistered digital asset securities. According to the SEC’s complaint, the SPRK token offering took place from April 2018 through July 2018,… Read More

September 16, 2022 @ 2:44 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed fraud charges against Gabriel Edelman, Creative Advancement LLC, and Edelman Blockchain Advisors LLC, for allegedly defrauding investors out of $4.39 million. According to the SEC, Edelman and his affiliated entities offered and sold securities using false and… Read More

September 14, 2022 @ 9:41 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) is continuing its pursuit of platforms that are issuing digital assets without being registered as securities. In a lawsuit filed today against Chicago Crypto Capital LLC (CCC) and several executives, the SEC alleges the defendants defrauded investors. According to… Read More

September 1, 2022 @ 7:37 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged the Archer Capital Management Group, Archer Growth Fund, and two related entities, HDR Management LLC and Silvermoon Group LLC, with an alleged fraudulent scheme that raised $2.6 million from at least 20 unsuspecting investors. According to the… Read More

August 16, 2022 @ 5:41 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged Dragonchain, Dragonchain Foundation, the Dragon Company and founder John Joseph Roets with raising $16.5 million in an “unregistered crypto asset securities offering.” In the complaint, the SEC alleges that Roets, Dragonchain, and the Foundation conducted an unregistered… Read More

August 3, 2022 @ 5:29 pm By JD Alois  |  

The first case of prosecuted insider trading in crypto took an interesting twist this week as the former Coinbase (Nasdaq:COIN) manager accused of abusing his position at the company to trade in advance of news has pleaded guilty to the charges of insider trading. According… Read More

August 1, 2022 @ 5:35 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against Forsage and eleven individuals alleging a cryptocurrency ponzi scam that is said to have pilfered over $300 million from retail investors. According to the SEC’s complaint, in 2020, Vladimir Okhotnikov, Jane Doe aka – Lola… Read More

July 27, 2022 @ 7:41 pm By JD Alois  |  

In the past week, CI has reported on the enforcement action initiated by the Securities and Exchange Commission (SEC), involving a former Coinbase (NASDAQ:COIN) manager and two partners regarding allegations of insider trading. According to the SEC’s complaint, non-public information was accessed prior to release,… Read More

July 25, 2022 @ 4:02 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has revealed multiple enforcement actions involving allegations of insider trading. The charges are also being joined by parallel criminal charges filed in the Southern District of New York. According to the SEC, three actions emanated from the SEC Enforcement… Read More

July 22, 2022 @ 9:48 am By JD Alois  |  

In recent days, the Securities and Exchange Commission (SEC) filed an enforcement action alleging insider trading involving a former Coinbase (NASDAQ:COIN) manager and two other partners. Simultaneously, criminal charges were filed by the US Department of Justice. Buried within the SEC complaint was the statement… Read More

July 21, 2022 @ 2:53 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed insider trading charges against a former Coinbase (NASDAQ:COIN) manager Ishan Wahi along with his brother Nikhil Wahi, and his friend, Sameer Ramani. In a parallel action, the U.S. Attorney’s Office for the Southern District of New York… Read More