Securities and Exchange Commission (SEC)

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SEC v. Andrew Waters et al: Complaint (‘Securities Fraud’)

August 18, 2023
Complaint alleging securities fraud regarding "his private sale of restricted common stock in ECom Products Group Corporation, a Florida corporation that purportedly owns, consolidates, and manages e-commerce platforms" in U.S. Securities and Exchange Commission in Andrew Wyles Waters, a citizen of Australia, as Defendant, and Helen Q. Waters, a citizen of Australia, as Relief Defendant, at the U.S. District Court for the Central District of California.

SEC v. Christopher Slaga et al: Complaint (‘$3.5M Securities Fraud’)

August 7, 2023
Complaint regarding "Defendants’ scheme that raised approximately $3.5 million from at least 17 investors through a fraudulent and unregistered securities offering" in U.S. Securities and Exchange Commission v. Christopher Slaga, a.k.a. Keith Renko, described as a resident of Barbados; Q4 Capital Group LLC, J4 Capital Advisors LLC, and Hayden Greene at the U.S. District Court for the Central District of California.

SEC v Charles Holzer et al: Complaint (‘$382K Insider Trading’)

August 2, 2023
Complaint in U.S. Securities and Exchange Commission v. Charles Rustin Holzer, of Wellington, Florida, USA, as Defendant, and Maglione International Ltd. and Frontenac Investments Ltd., both of the Cayman Islands, as Relief Defendants, at the U.S. District Court for the Southern District of New York.

SEC v. Sisu Capital LLC et al: Complaint

August 1, 2023
Complaint in U.S. Securities and Exchange Commission v. Sisu Capital LLC, of California, USA; Timothy Overture, of California, USA, and Hansueli Overture, described as a resident of Hallau, Switzerland, at the U.S. District Court for the Northern District of California.

RTW Investments LP: $1.4M Fine (SPACs)

May 30, 2023
Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $1.4 million on RTW Investments LP for regulatory breaches involving entities in the Cayman Islands, Guernsey, and USA.

Corvex Management LP: $1M Fine

April 14, 2023
Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $1 million on Corvex Management LP for regulatory breaches "in connection with the firm's activities related to certain special purpose acquisition companies" that, inter alia, involved entities in the Cayman Islands and Delaware.

Michele Mason: $3.8K Penalties (‘Crypto Promotion’)

March 22, 2023
Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $3,820 on Michele Mason Lohan, described as “a film director and internet personality known as 'Kendra Lust'" residing in Michigan, USA, for promoting a crypto security known as “Tronix tokens” without disclosing that she was paid to do so.

Akon: $168K Penalties (‘Crypto Promotion’)

March 22, 2023
Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $168,000 on Aliaune Damala Badara Akon Thiam, described as "a well-known entertainer and internet personality known as 'Akon'" residing in Georgia, USA, for promoting a crypto security known as “Tronix tokens” without disclosing that he was paid to do so.

Shaffer Smith: $48K Penalties (‘Crypto Promotion’)

March 22, 2023
Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $48,000 on Shaffer Smith, described as “a well-known entertainer and internet personality known as 'Ne-Yo'” residing in Georgia, USA, for promoting a crypto security known as “Tronix tokens” without disclosing that he was paid to do so.

Miles McCollum: $40K Penalties (‘Crypto Promotion’)

March 22, 2023
Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $40,000 on Miles McCollum, described as "a well-known recording artist and internet media personality known as 'Lil Yachty'" residing in Georgia, USA, for promoting a crypto security known as “Tronix tokens” without disclosing that he was paid to do so.

Jake Paul: $100K Penalties (‘Crypto Promotion’)

March 22, 2023
Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $100,000 on Jake Paul, described as "a well-known internet personality and professional boxer" residing in Puerto Rico, for promoting a crypto security known as "Tronix tokens" without disclosing that he was paid to do so.

Lindsay Lohan: $40K Penalties (‘Crypto Promotion’)

March 22, 2023
Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $40,000 on Lindsay Lohan, described as "a well-known actress, singer, and internet personality" residing in Dubai, United Arab Emirates, for promoting a crypto security known as "Tronix tokens" without disclosing that she was paid to do so.

African Gold Acquisition Corp.: $103K Fine

February 22, 2023
Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $103,591 on African Gold Acquisition Corp., described as "a publicly traded special purpose acquisition company incorporated in the Cayman Islands with its principal place of business in New York, New York", for, inter alia, the entity's "failure to implement sufficient internal controls enabled its former chief financial officer [Cooper Morgenthau] to misappropriate nearly all of the money in African Gold’s operating bank account and to otherwise effectively use African Gold’s operating bank account as his own personal account for over one year".

Nexo Capital Inc.: $22.5M Fine (‘Unregistered Crypto Offering’)

January 19, 2023
Administrative Order by the U.S. Securities and Exchange Commission imposing a civil money penalty of $22.5 million on Nexo Capital Inc., described as a Cayman Islands-domiciled provider of "crypto asset-related financial products and services", for an unregistered securities offering.

Leroy King: Order Instituting Administrative Proceedings

October 7, 2022
Order Instituting Administrative Proceedings in U.S. Securities and Exchange Commission v. Leroy King, described as "a dual citizen of both the United States and Antigua and Barbuda" who "served as the Administrator and Chief Executive Officer of the Financial Services Regulatory Commission, an agency of the Antiguan government, from approximately 2002 to 2009" and is currently serving a 10-year prison sentence after pleaded guilty to criminal charges regarding a fraud committed by former banker Allen Stanford

Kim Kardashian: $1.26M Penalties (‘Crypto Promotion-Undisclosed Compensation’)

October 3, 2022
Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $1.26 million on Kimberly Kardashian, described as "a well-known media personality and businesswoman" for promoting "a crypto asset security" known as EthereumMax (EMAX) without disclosing that she received compensation of "approximately $250,000".

Sparkster Ltd. et al: $30M+ Penalties (‘Unregistered Crypto Offering’)

September 19, 2022
Administrative Order by the U.S. Securities and Exchange Commission imposing fines and disgorgement totaling $30.75 million on Sparkster Ltd. of the Cayman Islands, and Sajjad Daya, a resident of the United Kingdom, for conducting an unregistered securities offering involving crypto.

Gol Linhas Aéreas Inteligentes SA: $70M Penalty

September 15, 2022
Administrative Order by the U.S. Securities and Exchange Commission that it has imposed disgorgement and interest totaling $70 million on GOL Linhas Aéreas Inteligentes SA, a.k.a. GOL Intelligent Airlines Inc., of São Paulo, described as "the second largest domestic airline in Brazil by market share", for "a scheme to bribe government officials in Brazil in exchange for certain payroll tax and fuel tax reductions that financially benefited Gol, along with other airlines".

SparkLabs Global Ventures Management LLC et al: $225K Fines

September 12, 2022
Administrative Order by the U.S. Securities and Exchange Commission imposing fines totaling $225,000 on SparkLabs Global Ventures Management LLC, of Delaware; SparkLabs Management LLC, of Delaware, and Bernard Moon, of California, for "unauthorized and undisclosed inter-fund loan transactions" involving, inter alia, Cayman Islands-domiciled entities based in South Korea and Taiwan.

Hudson Advisors LP et al: $11.2M Fine

September 12, 2022
Administrative Order by the U.S. Securities and Exchange Commission that it has imposed a fine of $11.2 million on investment advisers Hudson Advisors LP, of Delaware, and Lone Star Global Acquisitions Ltd., of Bermuda, which "failed to fully disclose Hudson's practice for calculating and charging certain fees".

Ridgeview Asset Management Partners LLC: $70K Fine

September 9, 2022
Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $70,000 on Ridgeview Asset Management Partners LLC for regulatory breaches involving entities in Brazil and USA.

Garrison Investment Group LP: $330K Fine

September 9, 2022
Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $330,000 on Delaware-domiciled investment adviser Garrison Investment Group LP for regulatory breaches involving entities in the Cayman Islands and USA.

BiscayneAmericas Advisers LLC: $135K Fine

September 9, 2022
Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $135,000 on BiscayneAmericas Advisers LLC for conduct that involved, inter alia, three Cayman Islands entities.

Perceptive Advisors LLC: $1.5M Fine

September 6, 2022
Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $1.5 million on Perceptive Advisors LLC for regulatory breaches involving entities in the Cayman Islands and United States.

Corona Associates Capital Management LLC et al: $80K Fines

June 30, 2022
Administrative Order by the U.S. Securities and Exchange Commission imposing fines totaling $80,000 on Corona Associates Capital Management LLC, of California; Julian Scurci, of Palo Alto, California, and Giovanni Sergio Scurci, a.k.a. John Scurci, of Riviera Beach, Florida, for alleged "material misrepresentations" involving Antilles Capital Master Fund LP and Antilles Capital Fund (BVI) Ltd., both of the British Virgin Islands, and Dorado Capital Partners LP, of California.

Geluk Capital Management Ltd. et al: $93K Penalties

June 24, 2022
Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $92,688 on Geluk Capital Management Ltd., of the Bahamas, and Douglas Gerald Fathers, of New Jersey, for alleged "misrepresentations".

Petroteq Energy, Inc. et al: Fines

June 13, 2022
Administrative Order by the U.S. Securities and exchange Commission imposing fines of $1 million and $450,000, respectively, on Petroteq Energy, Inc., of Canada, and Aleksandr Blyumkin, of California.

Tenaris SA: $25M Fine

June 2, 2022
Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $25 million on Tenaris S.A., described as "a global manufacturer and supplier of steel pipe products and related services, headquartered in Luxembourg", for "violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977 by Tenaris, as a result of a bribe scheme involving agents and employees of its Brazilian subsidiary to obtain and retain business from a Brazil state-owned entity Petróleo Brasileiro S.A.".

Wells Fargo Clearing Services LLC: $7M Fine

May 20, 2022
Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $7 million on Wells Fargo Clearing Services LLC for "failure to timely file certain suspicious activity reports between April 2017 and October 2021" involving wire transfers "to or from certain foreign countries determined to be at a high risk or moderate risk for money laundering, terrorist financing or other illegal monetary movements", including "Costa Rica, Turkey, Honduras, the British Virgin Islands, Antigua, Cayman Islands, Ukraine, and Guernsey".

Thomas Plaut: Industry Ban

May 19, 2022
Administrative Order by the U.S. Securities and Exchange Commission imposing an industry ban on Thomas F. Plaut, described as "the sole owner, Chairman, and CEO of Worldwide Markets Ltd., a British Virgin Islands company with its principal place of business in Woodcliff Lake, New Jersey".

SEC v. StraightPath Venture Partners LLC et al: TRO Motion (‘Securities Fraud’)

May 13, 2022
Plaintiff's emergency application for an order to show cause, temporary restraining order, preliminary injunction, asset freeze, receiver, and other relief in U.S. Securities and Exchange Commission v. StraightPath Venture Partners LLC, StraightPath Management LLC, Brian K. Martinsen, Michael A. Castillero, Francine A. Lanaia, and Eric D. Lachow at the U.S. District Court for the Southern District of New York.

Stericycle, Inc.: $24M Penalty

April 20, 2022
Administrative Order by the U. S. Securities and Exchange Commission imposing a penalty of $23,987,520 on Stericycle, Inc., described as a Delaware-domiciled "world-wide provider of medical waste and other services" for "violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977" involving "wholly-owned subsidiaries in Brazil, Mexico, and Argentina".

John Gunn: Suspension

April 8, 2022
Administrative Order by the U.S. Securities and Exchange Commission imposing a suspension on John William Gunn, described as a citizen of the United Kingdom residing in Hong Kong.

Global Investment Strategy UK Ltd.: US Industry Ban

April 8, 2022
Administrative Order by the U.S. Securities and Exchange Commission imposing an industry ban on Global Investment Strategy UK Ltd., described as "a financial services firm registered with and regulated by the Financial Conduct Authority of the United Kingdom, and is a member of the London Stock Exchange".

BlockFi Lending LLC: $50M Fine

February 14, 2022
Administrative Order by the U. S. Securities and Exchange Commission that it has imposed a fine of $50 million on BlockFi Lending LLC, a New Jersey-based crypto lender, for regulatory breaches, including "material misrepresentation" and operating as "an Unregistered Investment Company".

Ran Armon: Industry Ban

January 7, 2022
Administrative Order by the U. S. Securities and Exchange Commission imposing an industry ban on Ran Armon, described as a citizen and resident of Canada, for an alleged fraud.

Nicholas Abbate: $30K Fine

December 21, 2021
Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $30,000 on Nicholas Abbate, a resident of Staten Island, New York, for "his role in assisting others in a course of business that operated as a fraud or deceit upon clients and investors", including a mutual fund in the Cayman Islands that is not identified in the order but which OffshoreAlert believes is the Income Collecting 1-3 Months T-Bills Mutual Fund.

Wedbush Securities Inc.: $1.2M Penalties

December 15, 2021
Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $1.2 million on Wedbush Securities Inc. for the "unregistered offers and sales of large blocks of low-priced securities by an offshore customer", namely Silverton SA, now known as Wintercap SA, described as "a purported Swiss asset manager", and failure to file suspicious activity reports.

WEX Inc.: $350K Fine

December 13, 2021
Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $350,000 on WEX Inc., described as "a Maine-based reporting company that describes itself as a financial technology service provider" for failing "properly to devise and maintain a sufficient system of internal accounting controls at its Brazilian subsidiary, UNIK S.A.", that led to "errors in WEX Brazil’s financial statements back to fiscal year 2013 totaling approximately $85.5 million, mostly relating to the overstatement of unbilled receivables. This amount included about $8 million in suspected theft or unauthorized transactions by former WEX Brazil employees".

VTB Capital Plc: $6.4M Penalties

October 19, 2021
Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $6.4 million on VTB Capital Plc regarding "material omissions and misleading statements in a 2016 bond offering for which VTB Capital Plc, a London-based investment bank, acted with Credit Suisse Group AG as joint-lead manager".

Credit Suisse Group AG: $99M Penalties

October 19, 2021
Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $99 million on Credit Suisse Group AG, of Switzerland, regarding "an offering fraud and violations of the internal accounting controls and books and records provisions of the Foreign Corrupt Practices Act ... in connection with three interconnected transactions involving, among others, United Kingdom-based Credit Suisse entities and Mozambican state-owned entities".

Robert Press: $5.4M Penalties

September 30, 2021
Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $5.4 million on Robert D. Press to settle allegations of fraud involving TCA Fund Management Group Corp., of Florida, and four TCA fund entities in the Cayman Islands.

Donna Silverman: $50K Fine

September 30, 2021
Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $50,000 on Donna M. Silverman to settle allegations of fraud involving TCA Fund Management Group Corp., of Florida, and TCA Global Credit Fund GP Ltd., of the Cayman Islands.

WPP Plc: $22M Penalties

September 24, 2021
Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $22.5 million on WPP Plc, described as "the world's largest advertising group" that is domiciled in Jersey, in the Channel Islands; headquartered in London and New York City, and whose shares are listed on the New York Stock Exchange for alleged violations of "the anti-bribery, books and records, and international accounting controls provisions of the Foreign Corrupt Practices Act" involving its subsidiaries in Brazil, China, India, and Peru.

Helikon Investments Ltd.: $778K Penalties

September 21, 2021
Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $778,244 on Helikon Investments Ltd., described as a United Kingdom company that is registered with the U.K. Financial Conduct Authority, to settle allegations that it "sold short American depositary shares and then, within the rule's five-day restricted period, purchased ADSs of the same issuer in an offering, thereby violating Rule 105", profiting "by $669,002 from the transaction".

Ronald Haller: Industry Ban

September 17, 2021
Administrative Order by the U. S. Securities and Exchange Commission imposing an industry ban on Ronald P. Haller, 67, of Ontario, Canada, after. he pleaded guilty to fraud in Canada.

Murchinson Ltd. et al: $9M Settlement

August 17, 2021
Administrative Order by the U. S. Securities and Exchange Commission stating that Murchinson Ltd., of Toronto, Canada; Marc Bistricer, and Paul Zogala, described as citizens and residents of Canada, have agreed to pay penalties totaling $9 million to settle a regulatory investigation that, inter alia, involved an unidentified Bermuda "hedge fund".