Investors who lost billions in a massive Ponzi scheme orchestrated by convicted former Texas tycoon R. Allen Stanford won a legal victory Monday as a federal appeals court decided to let their class action lawsuits go forward against individuals and companies they allege aided the financier’s fraud. The 5th U.S. Circuit Court of Appeals overturned […]
The former private equity arm of Oppenheimer Holdings may have exaggerated the valuation of one of its holdings. The Securities and Exchange Commission and Massachusetts authorities are investigating the Oppenheimer Global Resource Private Equity Fund, a fund of private equity funds launched by Oppenheimer in 2008. Among the fund’s holdings was a $6 million investment […]
Securities regulators took enforcement action against an online trading platform and two private funds offering Facebook shares on Wednesday, the first action in a year-long probe into the lightly regulated world of private company-share trading. The SEC charged SharesPost, which matches buyers and sellers of private shares, and its CEO Greg Brogger with failing to register […]
The Securities and Exchange Commission says it is charging two financial advisors and three others connected to them with insider trading for more than $1.8 million in illegal profit gained from confidential information gleaned through an Alcoholics Anonymous relationship. The SEC says Timothy J. McGee and Michael W. Zirinsky, representatives at Ameriprise Financial Services, traded […]
The Securities and Exchange Commission filed a civil action in the United States District Court for the District of Nevada against Prime Star Group, Inc. and its chief executive officer Roger Mohlman of Las Vegas, Nevada, for violations of antifraud, registration, reporting, and books and records provisions, and against Danny Colon and Marysol Morera of […]