investor funds Archives - The Industry Spread

Securities Regulators Encourage Canadians to Help Identify and Stop Senior Financial Abuse

June 16, 2019

The Canadian Securities Administrators (CSA) is encouraging Canadians to be aware of the signs of financial abuse of seniors as part of World Elder Abuse Awareness Day (WEAAD) on June 15, 2019. Through a variety of online resources and activities across Canada, the CSA, its members and other senior-focused groups are highlighting the issue and the need to recognize, report and stop financial abuse of seniors.

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.

SEC Seeks Emergency Relief to Halt Prominent New York Developer’s Ponzi-Like Real Estate Investment Scheme

June 1, 2019

The Securities and Exchange Commission filed an emergency action charging Robert C. Morgan, a New York residential and commercial real estate developer, and two of his entities, Morgan Mezzanine Fund Manager LLC and Morgan Acquisitions, LLC, with fraud for siphoning and misusing investor funds. In its action, filed Wednesday, the SEC seeks an asset freeze and other emergency relief.

SEC Charges Founder of Online Gaming Company Defrauding Investors

February 11, 2019

According to the SEC’s complaint, among other misrepresentations, Alexander told investors that they would make a minimum of 10 times their investment, Alexander had personally invested millions of dollars in Kizzang, Alexander had made a $50 million charitable donation, and that he had led the creation of a prominent video game. 

Court Winds up CFS Private Wealth and Bans Adviser for 25 Years

January 25, 2019

Following an ASIC investigation, the Federal Court of Australia has wound up Australian financial services Licensee CFS Private Wealth Pty Ltd and Combined Financial Solutions Pty Ltd, a corporate authorised representative of CFS Private Wealth, and restrained its director, Graeme Walter Miller, from providing financial services for 25 years.

Three Developers Settle Charges of Fraudulent EB-5 Offering

December 16, 2018

The Securities and Exchange Commission today announced that three Houston-area developers have agreed to settle charges that they misused investor funds raised from 90 Chinese investors under the EB-5 Immigrant Investor Program on unrelated projects.