On December 5, 2011, the Securities and Exchange Commission charged four Chinese citizens and a Chinese-based entity with insider trading and obtained an emergency court order to freeze their assets after they reaped more than $2.7 million in profits by trading in advance of a recent public announcement of a merger agreement between London-based Pearson […]
On November 30, 2011, the Securities and Exchange Commission filed an enforcement action under seal in federal court in Washington D.C. and obtained an emergency court order to halt a prime bank scheme that defrauded at least 13 investors out of more than $2 million since August 2010. The Court unsealed the action on December […]
On November 17 Judge John F. Grady of the U.S. District Court for the Northern District of Illinois entered a final judgment against Jeffrey R. Neufeld (Neufeld) and Paridon Capital Management LLC (Paridon) of Elgin, Illinois for defrauding the TCM Global Strategy Fund (TCM Fund or the fund), a hedge fund, and its investors. Without […]
The first bonds designed to cover damage exclusively from severe thunderstorms are about to become a total wipeout for investors. Insurer Mariah Re Ltd. is poised to default on a $100 million, three-year bond that it issued in November 2010 on behalf of American Mutual Family Insurance Co., with bondholders expected to lose all of […]
DeWaay Financial Network LLC, one of several broker-dealers being sued by the trustee for DBSI Inc.’s private-actions trust, may pay the ultimate price for selling the real estate firm’s deals. Last month, claiming that bankruptcy looms, DeWaay asked a federal judge in Delaware for a temporary injunction to halt eight arbitration claims that investors have […]