Skip to main content


LPL Penalized $6 Million For Securities Violations

Under the agreement, LPL Financial will pay a fine of $5.5 million and restitution of $651,375, the regulator said, adding that the broker-dealer also agreed to a censure. Finra said in a filing Tuesday that LPL was cited for not reasonably supervising its registered reps when they made direct business transactions, sending customers letters with […]

Read More

SEC Charges President/CCO of Prophecy Asset Management Advisory Firm with Fraud

The Securities and Exchange Commission today charged John Hughes, president and chief compliance officer of registered investment adviser Prophecy Asset Management LP, for his involvement in a multi-year fraud that concealed losses of hundreds of millions of dollars from investors. Prophecy Asset Management advised multiple hedge funds and reported more than $500 million in assets […]

Read More

SEC Charges Virginia Investment Adviser with Orchestrating a Fraudulent Investment Scheme

The SEC’s complaint alleges that, from at least January 2014 through September 2019, Ryan R. Riley, of Leesburg, Virginia, solicited advisory clients and other individuals to invest in securities issued by his companies, Green Light Energy, LLC and Mustang Resources, Inc. According to the complaint, Riley induced investors to invest by claiming that he would […]

Read More

Blackstone Defaults On $562MM CMBS

This morning Bloomberg reports that Wall Street’s largest commercial real estate landlord, private equity giant Blackstone, has defaulted on a $562 million bond backed by a portfolio of offices and stores owned by Sponda Oy, a Finnish landlord it acquired in 2018. And while Blackstone is trying to minimize the news, the private equity firm clearly continues […]

Read More

Former Convicted Felon to Pay $24 Million to Settle SEC Charges for Operating a Ponzi and Pyramid Scheme

The Securities and Exchange Commission today announced the resolution of its fraud action against Eric J. “EJ” Dalius and the business he owned, Saivian LLC. Dalius and Saivian LLC have agreed to pay $24 million in disgorgement, prejudgment interest and penalties to settle the SEC’s claims against them for operating a multi-million dollar Ponzi and […]

Read More