{"id":3677,"date":"2016-05-18T00:00:00","date_gmt":"2016-05-18T05:00:00","guid":{"rendered":"https:\/\/stockbrokerfraudblog.blawgcloud.com\/2016\/05\/securities_fraud_cases_exhead"},"modified":"2022-03-23T10:34:09","modified_gmt":"2022-03-23T15:34:09","slug":"securities-fraud-cases-exhead","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-cases-exhead\/","title":{"rendered":"Securities Fraud Cases: Ex-Head of MICG Investment Management Firm Faces 13 New Charges, SEC Accuses Unregistered Brokers of Bilking Investors in $6M Scam, and $250M Pump-And-Dump Case Leads to Guilty Plea"},"content":{"rendered":"

Government Charges Convicted Broker with More Fraud Charges<\/strong>
\nJeffrey Martinovich is charged with 13 new counts of fraud. He is is ex-head of MICG Investment Management and was convicted of 17 fraud charges three years ago. <\/p>\n

Martinovich is accused of improperly moving over $700K from a company hedge fund in 2010. According to prosecutors, he spent $170K of the funds for his legal defense fees and at least $59K on his personal expenses. He also purportedly took out over $147K more from the hedge fund account.<\/p>\n

It was in 2011 that the Financial Industry Regulatory Authority expelled Martinovich and his firm for securities fraud<\/a>, improperly using client money, and causing false statements to be sent to investors related to the MICG Venture Strategies LLC, a proprietary hedge fund. The self-regulatory organization said that Martinovich and MICG improperly assigned asset values that were excessive to two non-public securities. <\/p>\n

FINRA said that the assets\u2019 value were inflated so that incentive and management fee could be increased. <\/p>\n

\nOffshore Broker Pleads Guilty in $250M Pump-and-Dump Scam<\/strong>
\nGregg Mulholland has pleaded guilty to conspiracy for operating a pump-and-dump-scam<\/a> that manipulated shares of over 40 companies in the U.S. One company, Cynk Technology, saw its share price increase by 24,000%. <\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Government Charges Convicted Broker with More Fraud Charges Jeffrey Martinovich is charged with 13 new counts of fraud. He is is ex-head of MICG Investment Management and was convicted of 17 fraud charges three years ago. Martinovich is accused of improperly moving over $700K from a company hedge fund in 2010. 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