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Insider trading charges brought against 5 with AA ties

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 […]

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SEC v. Prime Star Group, Inc., et al.

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 […]

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Stanford jury rules that foreign accounts must be forfeited

Convicted swindler Allen Stanford should forfeit some $330 million stashed in foreign bank accounts, a jury found on Thursday. The verdict clears the way for the U.S. government to try to seize the funds and return them to investors. Stanford was convicted on Tuesday in federal court in Houston of running a $7 billion Ponzi […]

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SEC slows on Dodd-Frank reforms

Less than halfway through the process of implementing the 2010 Dodd-Frank Act, the pace of rule-writing by the U.S. Securities and Exchange Commission has slowed by about half.  The agency’s five commissioners haven’t met once in the last four months to approve or propose regulations required under Dodd-Frank, designed to curb the kind of risky […]

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Assets of advisor Brian Callahan frozen by SEC

The SEC has frozen the assets of a New York investment advisor accused of defrauding investors in five offshore funds from whom he raised more than $74 million.  The SEC also alleges in a suit filed in Islip, N.Y., that the advisor used some of those funds, raised since 2005, to buy a $3.35 million […]

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