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SEC Office of the Whistleblower May Be Blowing Air
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November 20, 2012 @ 11:46 am |
In 2012, The Office of the Whistleblower was established to administer the SEC’s whistleblower program formed in accordance with Section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Section 21F of the Securities Exchange Act of 1934.
The Act provides that the SEC shall pay awards to eligible whistleblowers who voluntarily provide the SEC with original information that leads to a successful enforcement action yielding monetary...
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Highschool Drop Out Poses as Fake Money Manager and Steals $4 Million from Investors and Spends the Money on Drugs and Gambling
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November 19, 2012 @ 1:26 pm |
The Securities and Exchange Commission today charged Stephen A. Colangelo, Jr. a purported investment adviser in New York with defrauding investors who he convinced to invest in his start-up businesses while in reality he was spending their money on illegal drugs and gambling.
According to the SEC Complaint, From 2009 through 2011, Colangelo solicited and obtained over $4 million from investors by making material misrepresentations and omissions concerning Colangelo's prior trading activity and historical rates of return, Colangelo's criminal history and educational ba...
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Another Defrauded Investor Scores Win Against Citizens Bank Subsidiary
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November 16, 2012 @ 10:14 am |
CCO Investment Services Corp. is a wholly owned subsidiary of Citizens Financial Group, Inc., which is owned by the Royal Bank of Scotland, and in substantial part, operates from kiosks located in traditional retail bank branch offices of Citizens Bank.
Since 2006, CCO has been fined more than $4.9 million by a series of federal and state securities regulators in connection with sales practice violations, including the failure to supervise, and telemarketing, and "cross-selling" of Citizen’s bank customers, in connection with the sale of variable annuities and ...
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Internet Fraud: How to Avoid Internet Investment Scams
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Risk, Regulation, and Investor Protection: The Case of Investment Management
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