Eight People Implicated in $39M Penny Stock Fraud Get Prison Sentences, Must Pay Restitution In Ohio, eight people were sentenced to prison terms ranging from almost two years to a dozen years for their involvement in a penny stock scam that caused investors to suffer $39M in losses. One of…
The SIPC Modernization Task Force, which was created by the Securities Investor Protection Corporation, has made 15 recommendations to update SIPC and Securities Investor Protection Act provisions. Among the 15 recommendations: • Raising coverage protection for customers of failed brokerage firms from $500K to $1.3M. • Getting rid of the…