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The Securities and Exchange Commission today announced charges against an investment fund manager with offices in California and Arizona who is allegedly deceiving investors about the safety and performance of their investments, which involve risky collateralized mortgage obligations (CMOs). The SEC alleges that George Charles Cody Price of La Jolla, Calif., raised $18 million for […]
The Financial Industry Regulatory Authority (FINRA) announced that it has ordered Pruco Securities, LLC of Newark, New Jersey, to pay more than $10.7 million in restitution, plus interest, to customers who placed mutual fund orders with Pruco via facsimile or mail (paper orders) from late 2003 to June 2011 and received an inferior price for […]
The Securities and Exchange Commission today announced charges and an asset freeze against an individual living in Illinois and two companies behind an investment scheme defrauding foreign investors seeking profitable returns and a legal path to U.S. residency through a federal visa program. The SEC alleges that Anshoo R. Sethi created A Chicago Convention Center […]
Anthony Vassallo, 33, of Folsom, California, pleaded guilty today for his role in a massive investment fraud scheme that brought in more than $80 million from more than 300 investors, U.S. Attorney Benjamin B. Wagner, FBI Special Agent in Charge Herbert M. Brown, and Internal Revenue Service (IRS) Criminal Investigation (CI) Special Agent in Charge […]
Last year, at least 450 new structured products were linked to Apple, according to SLCG. Three-quarters of them were issued when the stock was at least $550. The shares closed Friday at $439.88, down $60 for the week. As a result, the value of Apple-linked products suffered a one-week drop of more than 15%, estimates […]