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SEC charges California company and CEO with defrauding investors in Nevada gold mining

The Securities and Exchange Commission today filed fraud charges against a California-based mining company and its CEO who induced hundreds of investors to pour $16 million into a fruitless gold mining venture. The SEC alleges that Nekekim Corporation and Kenneth Carlton defrauded investors with representations that a special “complex ore” found at Nekekim’s mine site […]

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SEC v. Aletheia Research and Management, Inc. and Peter Eichler

On December 14, the Securities and Exchange Commission charged a Santa Monica-based hedge fund manager and his investment advisory firm with conducting a “cherry-picking” scheme by steering winning trades to their own trading accounts and favored clients to the detriment of certain hedge fund investors. They are also charged with failing to disclose the firm’s […]

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Morgan Stanley advises pulling money from Paulson funds

Morgan Stanley Smith Barney is recommending that its financial advisers pull client money out of Paulson’s Advantage and Advantage Plus funds, a person familiar with the matter said on Wednesday.  Morgan Stanley had been watching Paulson’s performance for months and prepared for this move when it told advisers last spring to stop putting new money […]

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Peter Madoff sentenced to 10 years for role in Ponzi scheme

Peter Madoff will serve 10 years in prison for his role in his older brother’s multibillion-dollar Ponzi scheme, a U.S. judge said on Thursday. Peter Madoff, 67, pleaded guilty in June to criminal charges including conspiracy to commit securities fraud for falsifying the books and records of the investment advisory company founded by his brother, […]

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Notice to LPL Financial, LLC Customers — Aidikoff, Uhl & Bakhtiari Launches Investigation of non-traded REIT recommendations — LPLA

Aidikoff, Uhl & Bakhtiari announces the launch of an investigation of the sales practices of LPL Financial, LLC in recommending non-traded REITs to their clients.  The investigation follows the recently filed complaint by the Commonwealth of Massachusetts Securities Division into similar non-traded REIT sales practices.  The Massachusetts complaint charged LPL with dishonest and unethical business […]

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