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SEC Charges Massachusetts-Based Corporation and Senior Officers in $26 Million Fraudulent Securities Offering

On September 10, 2012, the Securities and Exchange Commission filed an enforcement action in federal court in Boston charging Massachusetts-based Bio Defense Corporation and others for their roles in a fraudulent offering of unregistered Bio Defense securities. The defendants are charged with defrauding investors through various misrepresentations and schemes while raising at least $26 million […]

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SEC v. ICP Asset Management LLC

The Securities and Exchange Commission today announced that New York-based investment advisory firm ICP Asset Management and its founder and president Thomas C. Priore have agreed to settle the agency’s charges that they defrauded several collateralized debt obligations (CDOs) they managed. ICP, Priore, and related entities have agreed to a final judgment ordering them to […]

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Behringer Harvard funds implode

Reliable news sources have reported that Behringer Harvard Strategic Opportunity Fund I and II will report catastrophic losses to investors this Friday.  Behringer Harvard informed brokers last week of the fund problems and is preparing to tell investors.  Launched in 2005, the Behringer Harvard Strategic Opportunity Fund I raised $65 million and invested in six […]

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SEC charges resident for Puerto Rico based Ponzi scheme

The Securities and Exchange Commission today charged a Puerto Rico resident and his company with conducting a Ponzi scheme that targeted evangelical Christians and factory workers in Puerto Rico. The SEC alleges that Ricardo Bonilla Rojas and his firm Shadai Yire raised at least $7 million from as many as 200 investors living primarily in […]

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Regulators Subpoena 7 banks

New York Attorney General Eric Schneiderman and Connecticut Attorney General George Jepsen are jointly investigating and have requested information from JP Morgan Chase, Barclays, Royal Bank of Scotland, HSBC. UBS, Deutsche Bank and Citigroup were also named in the report by Bloomberg. In the UK the Serious Fraud Office has said it will investigate “a number […]

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