Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

October 17, 2020

How one family's nightmare illustrates the growing threat of real estate wire fraud (CNBC by Andrea Day, Louise Connelly, Jennifer Schlesinger, and Scott Zamost)

FINRA's Board Unimaginatively Responds to Existential Crisis By Raising Fees ( Blog)

Justice Department And Indian Authorities Announce Enforcement Actions Against Technical-Support Fraud Scheme Targeting Seniors / First Parallel Action by U.S. and Indian Governments Against Elder Fraud (DOJ Release)

Fugitive Charged with Leading Multimillion Dollar Fraud Scheme, Falsifying Evidence, and Tax Crimes (DOJ Release)

Private Equity CEO Enters into Non-prosecution Agreement on International Tax Fraud Scheme and Agrees to Pay $139 Million, to Abandon $182 Million in Charitable Contribution Deductions, and to Cooperate with Government Investigations (DOJ Release)

SEC Charges Andeavor for Inadequate Controls Around Authorization of Stock Buyback Plan Company to Pay $20 Million Penalty (SEC Release)

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

FINRA Fines and Suspends Merrill Lynch Rep Over Apartment Rentals ( Blog)

Former Office Manager Sentenced To More Than 5 Years In Federal Prison For Stealing $790,600 (DOJ Release)

Unlicensed New Jersey Investment Adviser Charged with Defrauding Clients Out of More than $2 Million (DOJ Release)

Convicted Fraudster Pleads Guilty To New Fraud Scheme, Plea Agreement Includes Stipulated 10-Year Sentence / Scheme Resulted in Alleged Loss to Investors of at Least $7 million (DOJ Release)

Federal Court Orders Affiliate Marketer to Pay More Than $13.8 Million for Binary Options Fraud (CFTC Release)

FINRA Fines and Suspends Rep For Alleged Excessive Trading of Two Customer Account
In the Matter of Donates B. Vildzius, Respondent (FINRA AWC)

FINRA Fines and Suspends Rep For Alleged Pension Stream PSTs
In the Matter of Lonna R. Dehn Ristvedt, Respondent (FINRA AWC)

Former Long Island Liquor Distributor Sentenced to 24 Months in Prison for Defrauding Investors in Wine Product Featured on "Shark Tank" TV Show / Defendant Stole More Than $500,000 from Investors to Fund His Securities Trading Account and Satisfy Mortgage on a Florida Home (DOJ Release)

CFTC Revokes Registrations of Florida Company and its CEO for Fraud and Related Criminal Conviction (CFTC Release)

Federal Court Orders Pennsylvania Man and His Companies to Pay More Than $1.2 Million in Forex Trading Scheme (CFTC Release)

Rent or Buy? Eight Home Hunters Explain Their Real Estate Moves During Covid From New York to Sydney, the fallout from the pandemic has changed the calculus for those searching for a house. (Bloomberg by Jack Pitcher, Emily Cadman, Oshrat Carmiel, Julia Fanzeres, and Kristine Aquino)

Robinhood Users Say Accounts Were Looted, No One to Call (Bloomberg by Sophie Alexander and Annie Massa)