Businessman Settles SEC Case Over Immigrant Visa-Related Investor Scam Ariel Quiros, a businessman accused of defrauding foreign investors seeking to earn US residency through the EB-5 Immigrant Investor Program, has agreed to the settle the Securities and Exchange Commission’s case against him. As part of the settlement, which a court…
In a settlement reached with the CFTC, Deutsche Bank Securities (DBSI) will pay a $70M civil penalty to resolve allegations that it attempted to rig the ISDAFIX benchmark. The regulator contends that from 1/2007 through 5/2012, the firm had a number of its traders try to rig the USD ISDAFIX,…
The US Securities and Exchange Commission has filed securities fraud charges against Nicholas Joseph Genovese. The regulator contends that the purported hedge fund manager and his Willow Creek Advisors LLC misappropriated at least six investors’ money to pay for securities trading in his own brokerage account. Now, the SEC wants…
In the criminal case brought against them, two ex-Morgan Stanley (MS) investment advisers, James S. Polese and Cornelius Peterson, have pleaded guilty to the criminal charges against them. Polese was charged with conspiracy, aggravated identity theft, investment adviser fraud, and multiple counts of bank fraud. Peterson is charged with conspiracy,…
BNP Paribas USA (BNP), A BNP Paribas unit, will pay $90M to settle a criminal case alleging foreign currency price manipulation. It also pleaded guilty by admitting that it conspired to fix prices for Eastern European, Central European, African, and Middle Eastern (CEEMEA)currencies between 9/2011 and 7/2013. According to the…
Beaumont, TX Investment Adviser is Suspended for 90 Days In a Disciplinary Order, the Texas State Securities Board suspended former LPL Financial LLC (LPLA) investment adviser Jason N. Anderson for 90 days. The state contends that while registered with that firm, Anderson touted an active-trading program to clients that charged…
Deutsche Bank Securities Inc. and Deutsche Bank AG (DB) will pay a $30M civil penalty to resolve charges brought by the Commodity Futures Trading Commission accusing them of spoofing. According to the regulator, from at least 2/2008 through 9/2014, DB AG, with the help of a number of precious metal…
The SEC has put a stop to Dallas-based AriseBank’s initial coin offering. The regulator contends that AriseBank, which touts itself as the first “decentralized bank” in the world, and its principals are committing Texas financial fraud, and they’ve targeted retail investors, including Texas investors, in an effort to raise hundreds…
Woodbridge to Appoint New Board to Run the Property Developer, Will Pay for Investor Fraud Lawyers Woodbridge Group of Companies and the US Securities and Exchange Commission have come to an agreement that a New Board of Managers will be appointed to oversee the bankrupt property developer. The company, which…
After backing Outcome Health, an advertising company, Goldman Sachs Investment Partners (GS) and other investors are among those suing the startup for fraud and to get their money back. The lawsuit, filed a couple of months ago, comes in the wake of allegations that investors were fooled by inflated information…