Skip to main content


SEC Poised to Sue Securities Investor Protection Corp. (SIPC) over Stanford Ponzi Scheme

The Securities and Exchange Commission has decided to take the unprecedented step of suing the agency that insures U.S. brokerage accounts to force it to pay victims of Allen Stanford’s  alleged $7 billion Ponzi scheme. The SEC plans to sue the Securities Investor Protection Corp. as early as Monday or Tuesday to compel a liquidation […]

Read More

Creditors Seek Dismissal of Jefferson County Bankruptcy

Bank of New York Mellon Corp., as the indenture trustee for holders of the county’s sewer warrants, asked U.S. Bankruptcy Judge Thomas B. Bennett in Birmingham, Alabama, to throw the biggest U.S. municipal bankruptcy out of court, where the county is protected from creditors. Bank of New York Mellon argues that Jefferson County wasn’t authorized to file […]

Read More

SEC freezes assets of four Chinese citizens charged with insider trading

On December 5, 2011, the Securities and Exchange Commission charged four Chinese citizens and a Chinese-based entity with insider trading and obtained an emergency court order to freeze their assets after they reaped more than $2.7 million in profits by trading in advance of a recent public announcement of a merger agreement between London-based Pearson […]

Read More

SEC halts prime bank scheme operated by D.C. law firm and Pennsylvania company

On November 30, 2011, the Securities and Exchange Commission filed an enforcement action under seal in federal court in Washington D.C. and obtained an emergency court order to halt a prime bank scheme that defrauded at least 13 investors out of more than $2 million since August 2010. The Court unsealed the action on December […]

Read More

SEC Resolves Case Against Hedge Fund Adviser and Owner

On November 17 Judge John F. Grady of the U.S. District Court for the Northern District of Illinois entered a final judgment against Jeffrey R. Neufeld (Neufeld) and Paridon Capital Management LLC (Paridon) of Elgin, Illinois for defrauding the TCM Global Strategy Fund (TCM Fund or the fund), a hedge fund, and its investors. Without […]

Read More