Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

September 19, 2020

Former Foreign Exchange Trader Sentenced To Prison For Price Fixing And Bid Rigging (DOJ Release)

In the Matter of the Claims for an Award in Connection with Redacted (SEC Order Determining Whistleblower Award Claim)

Lucy's Human: Remarks at Virtual Roundtable on The Role of Asset Management in ESG Investing Hosted By Harvard Law School and the Program on International Financial Systems (Speech by SEC Commissioner Hester Peirce)

SEC Charges Ohio Investment Adviser with Defrauding Retail Investors (SEC Release)

Founder And CEO Of Cyberfraud Prevention Company Arrested And Charged With Securities Fraud Scheme / Adam Rogas Allegedly Raised $123 Million from Investors Using Financial Statements that Showed Tens of Millions of Dollars of Revenue and Assets that Did Not Exist (DOJ Release)

SEC Charges Former CEO of Technology Company With Raising $123 Million in Fraudulent Offerings (SEC Release)

SEC Charges Pharmacy Chain Employee with Insider Trading (SEC Release)

11Cir Says No Mulligan for Citigroup in Wrongful Termination of At-Will Employee
Christian S. Gherardi, Plaintiff/Appellant, v. Citigroup Global Markets Inc., Defendant/Appellee (Opinion, United States Court of Appeals for the Eleventh Circuit, No. 18-13181)

FINRA NAC Modifies Findings and Sanctions for Rep Who converted funds, made material misrepresentations, and executed bad checks and failed electronic transfers
In the Matter of Department of Enforcement, Complainant, v. Michael Joseph Clarke, Respondent (FINRA NAC Decision)

Federal Court Affirms Federal Jurisdiction in FINRA Arbitration Appeal ( Blog)

SEC Charges Private Company with Fraud (SEC Release)

SEC Adopts Amendments to Enhance Retail Investor Protections and Modernize the Rule Governing Quotations for Over-the-Counter Securities (SEC Release)

Montana Broker Sentenced to Prison for Multimillon-Dollar Investment-Fraud Scheme (DOJ Release)

Seven International Cyber Defendants, Including "Apt41" Actors, Charged In Connection With Computer Intrusion Campaigns Against More Than 100 Victims Globally / Two Defendants Arrested in Malaysia; Remaining Five Defendants, One of Whom Allegedly Boasted of Connections to the Chinese Ministry of State Security, are Fugitives in China (DOJ Release)

CFTC Charges Texas Man with Misappropriating Over $8.3 Million In Customer Funds / Defendant Agrees to Liability, Federal Judge Issues Permanent Injunction and Orders Registration, Trading Bans (CFTC Release)

CFTC Charges 4 Florida Men, 1 New Jersey Man, and Their Companies in $4.75 Million Forex Ponzi Scheme / CFTC Secures Federal Court Ruling Freezing Assets (CFTC Release)

Russian Nationals Indicted for Conspiracy to Defraud Multiple Cryptocurrency Exchanges and Their Customers / Defendants Allegedly Perpetrated World-Wide Attacks on Cryptocurrency Platforms and Manipulated the Market to Defraud Customers of at Least $16.8 Million (DOJ Release)

Chicago Nursing Home Executives Charged With Operating Ponzi Scheme (DOJ Release)

Indian National Admits to Participating in Telemarketing Scam to Defraud Americans (DOJ Release)

Unregistered ICO Issuer Agrees to Disable Tokens and Pay Penalty for Distribution to Harmed Investors (SEC Release)

Statement on SEC Settlement Charging Token Issuer with Violation of Registration Provisions of the Securities Act of 1933 by SEC Commissioner Hester Peirce

SEC Obtains Judgments Against Two Individuals in Fraud Scheme Involving Biotech Start-Up (SEC Release)

SEC Charges Arizona-Based Financial Services Companies and Their CEO with Fraud (SEC Release)

Federal Court Orders Illinois Software Development Firm to Pay Penalty and Disgorgement for Aiding and Abetting Illegal Conduct (CFTC Release)

FINRA Bars Associated Person for Altering Series 6 Exam Results
In the Matter of Alonzo C. Castillo, Respondent (FINRA AWC)

Wells Fargo Sues Over Transitional and Production Bonuses And Rep Fights Back ( Blog)