$50 million diverted in a kind of Ponzi scheme, regulator says
SEC charges two advisors for conducting similar schemes
The British Columbia Securities Commission has settled with John Gregory Paterson, the former president and CEO of Southwestern Resources Corp., who admitted to fraud and illegal insider trading.In the BCSC settlement agreement, Paterson admitted that he committed fraud when he entered false assay results related to Southwestern’s Boka project in China into the company’s database. […]
World Elder Abuse Awareness Day
No prospectuses filed for Moenkopi Resources, Frey Mining, and Mercury Capital
U.S. securities regulators have charged several brokers with fraud for selling collateralized mortgage obligations (CMOs) as securities suitable for risk-averse investors.The U.S. Securities and Exchange Commission filed a complaint in federal district court in West Palm Beach, Fla., alleging that 10 brokers who worked for now-defunct Brookstreet Securities Corp. did not clearly define the risks […]
Regulator cautions institutions over impersonation of OSFI employees
The trustee for Bernie Madoff’s brokerage firm is establishing a program for hardship cases to recover some of their money as soon as possible.Irving Picard, the court-appointed trustee for the liquidation of Bernard L. Madoff Investment Securities LLC, announced Friday a “hardship program” designed to accelerate claims for individuals in need as a result of […]
Company reviewing regulator's complaint
Regulator moves to preempt spread of alleged Ponzi scheme to Quebec