Jon Latorella, 48, of Marblehead, the former chief executive officer of LocatePlus, was charged along with former LocatePlus Chief Financial Officer James Fields of Brookline with setting up sham corporations that they then claimed to be customers of their business, a Cummings Center-based information broker. Federal prosecutors say the fictitious companies, including one that was […]
The Securities and Exchange Commission today announced that a federal judge has ordered the former CEO of Brookstreet Securities Corp. to pay a maximum $10 million penalty in a securities fraud case related to the financial crisis. The SEC litigated the case beginning in December 2009, when the agency charged Stanley C. Brooks and Brookstreet […]
The U.S. Securities and Exchange Commission (Commission) announced that on February 15, 2012, co-founders of the bankrupt Canopy Financial, Inc., a health care transaction-software company based in Chicago, were sentenced to 15 and 13 years in prison for defrauding investors and clients of more than $93 million. Anthony Banas, Canopy’s chief technology officer, was sentenced […]
The Securities and Exchange Commission announced that on February 2, 2012, United States District Judge William C. Caldwell of the United States District Court for the Middle District of Pennsylvania entered an order imposing a $2,500,000 civil penalty jointly and severally against defendants Robert Glenn Bard and Vision Specialist Group, LLC. In an earlier order […]
AIJ Investment Advisors Co.’s operations were halted Friday after regulators said the firm allegedly lost “most of’” the ¥183 billion ($2.3 billion) in pension assets it managed. Japanese credit rater Rating & Investment Information Inc. warned in a 2009 newsletter to clients that AIJ had “unnaturally stable returns” despite a down market. Although AIJ wasn’t […]