Securities Industry Commentator by Bill Singer Esq
August 13, 2018
https://www.justice.gov/usao-edny/pr/former-jp-morgan-chase-bank-employee-sentenced-four-years-prison-selling-customer
SEC v. Christopher Collins, et al., Civil Action No. 1:18-cv-07128-KPF (S.D.N.Y., filed August 8, 2018) https://www.sec.gov/litigation/complaints/2018/comp24231.pdf
SEC v. Lauren Zarksy, Civil Action No. 1:18-cv-07129-KPF (S.D.N.Y., filed August 8, 2018) https://www.sec.gov/litigation/complaints/2018/comp24231-1.pdf
SEC v. Dorothy Zarsky, Civil Action No. 1:18-cv-07130-KPF (S.D.N.Y., filed August 8, 2018)) https://www.sec.gov/litigation/complaints/2018/comp24231-2.pdf
Without admitting or denying the charges, Lauren Zarsky, Cameron Collins' girlfriend, and her mother, Dorothy Zarsky, settled SEC charges allegeing trading on the basis of material, nonpublic information. Lauren Zarsky agreed to disgorge her ill-gotten gains of $19,440, plus prejudgment interest of $839, and pay a civil penalty of $19,440. Dorothy Zarsky agreed to disgorge her ill-gotten gains of $22,600, plus prejudgment interest of $975, and pay a civil penalty of $22,600. The final judgments, which require court approval, would enjoin Lauren Zarsky and Dorothy Zarsky from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and Section 17(a) of the Securities Act of 1933. Lauren Zarsky, a CPA, has also agreed to be suspended from appearing or practicing before the SEC as an accountant, which includes not participating in the financial reporting or audits of public companies. The SEC's order permits Zarsky to apply for reinstatement after five years.
https://www.justice.gov/usao-sdca/pr/former-mlb-all-star-pitcher-esteban-loaizapleads-guilty-possessing-20-kilograms-cocaine
[L]oaiza admitted that on February 9, 2018, he took possession of a silver Mercedes-Benz sport utility vehicle that he knew to contain cocaine. He further admitted that he drove the SUV to a townhouse he rented in Imperial Beach, California, where he transferred 20 kilograms of cocaine to another vehicle in the garage, and that he did so with the intent to distribute the cocaine to another person
https://www.justice.gov/usao-mdfl/pr/former-new-port-richey-resident-sentenced-more-ten-years-connection-consumer-fraud
David Owen was sentenced in the United States District Court for the Middle District of Florida to 10 years and 10 months in federal prison for conspiring to commit extortion, money laundering, and mail fraud, in connection with several consumer fraud schemes; and was ordered to py $697,500 restitution, and a money judgment was entered against him in the amount of $1,185,652. Owen and co-conspirator Andrew Corrigan (also sentenced to 10 years in prison) extorted money from victims by falsely representing that the victims had financial obligations to the Internal Revenue Service (IRS), Canadian tax authorities, or other entities; and then then threatened the victims with arrest, prosecution, or other legal consequences unless payment was forthcoming into straw accounts. Owen and Corrigan collected over $850,000 from their victims. As if one scam weren't enough, Owen also targeted three elderly victims and falsely represented to those victims that they had won millions of dollars in the Publisher's Clearing House lottery. The victims provided their financial information and mailed over $315,000 in cashier's checks to a straw business.
SEC Charges Biotechnology Company, and CEO with IIIegal Sales of Stock and a Misleading Public Company Filing (SEC Litigation Release No. 24232 )
https://www.sec.gov/litigation/litreleases/2018/lr24232.htmIn a Complaint filed in the United States District Court for the Southern District of New York, the SEC charged Plandai Biotechnology, Inc.. and its Chariman and Chief Executive Officer Roger Duffield with violating the registration provisions of Sections 5(a) and 5(c) of the Securities Act of 1933. The complaint also charges Plandai with violating, and Duffield aiding and abetting violations of, the reporting, books and records, and internal accounting controls provisions of and Sections 13(a), 13(b)(2)(A) and (B) of the Securities Exchange Act of 1934 and Rules 12b-20 and 13a-1 thereunder. The SEC seeks permanent injunctions and financial penalties against both defendants. Plandai and Duffield allegedly made illegal, unregistered sales of stock to unaccredited investors and failed to adequately disclose that proceeds from sales of Plandai stock were sent to a private company owned by Duffield. READ the FULL TEXT SEC Complaint https://www.sec.gov/litigation/complaints/2018/comp24232.pdf