fraud Archives - The Industry Spread

SEC Charges Hedge Fund Adviser and Top Executives With Fraud

October 3, 2019

According to the SEC’s complaint, SBB Chief Executive Officer Samuel Barnett founded the firm in 2010 while still in college, raised millions from friends and family members, and invested almost exclusively in structured notes. The complaint alleges that as SBB sought outside investors, Barnett and Chief Operating Officer and Chief Compliance Officer Matthew Aven promised prospective investors that they would use “fair value” when recording investments.

SEC Halts Alleged $125 Million Offering Fraud

September 23, 2019

The Securities and Exchange Commission today announced that it has filed an emergency action and obtained a temporary restraining order and asset freeze against three individuals and three entities in connection with an alleged fraudulent, ongoing international trading program that has placed at risk more than $125 million of investor funds.

CFTC Orders Registrant to Pay $1.25 Million for Fraud, Unauthorized Trading, and Violating Speculative Position Limits in Live Cattle Futures

September 13, 2019

The U.S. Commodity Futures Trading Commission today issued an order filing and simultaneously settling charges against Nathan Harris, a CFTC registrant, of Akron, Iowa, for fraud, unauthorized trading, and violating speculative position limits in live cattle futures contracts.  The order imposes a civil monetary penalty of $1,250,000 and permanent restrictions on Harris’s registration with the CFTC.

Fraser Valley Man Penalized for Committing Fraud

June 16, 2019

A panel of the British Columbia Securities Commission (BCSC) has imposed a $350,000 administrative penalty on Fraser Valley Man William Wade Furman who deceived investors about his status as a registrant, his prior history of success in trading in securities and his use of investor funds.