On Thursday, the U.S. District Court for the Northern District of Georgia issued an order freezing the assets of SJK Investment Management, an investment advisor firm, as well as the assets of SJK’s Chief Executive Officer Stanley Kowalewski, in an action by the Securities and Exchange Commission against SJK which sought an emergency freeze… Continue Reading
Category Archives: Securities and Exchange Commission Proceedings
Subscribe to Securities and Exchange Commission Proceedings RSS FeedSEC Charges Florida and Canadian Residents Over $300 Million Gold Mining Investment Ponzi Scheme
Posted in Securities and Exchange Commission ProceedingsThe U.S. Securities and Exchange Commission charged four Canadian citizens and two Florida residents for an alleged Ponzi scheme which defrauded more than 3,000 investors across the U.S. and Canada of approximately $300 million, according to an SEC press release. The SEC has filed a complaint alleging that Milowe Allen Brost and Gary Allen Sorenson… Continue Reading
The SEC’s Case Against Sir Robert Allen Stanford — A Case Study in Investigative and Enforcement Failure
Posted in Fraud, Securities and Exchange Commission ProceedingsSince last year, we’ve followed the government’s investigation and prosecution of Texan and Antiguan financier Sir Robert Allen Stanford for allegedly defrauding investors of billions in a Ponzi scheme. Well, as set forth in a 150 page Report of Investigation by the U.S. Securities and Exchange Commission Office of the Inspector General (OIG), the SEC… Continue Reading
SEC Goes After Goldman Sachs in Financial Crisis Fallout
Posted in Fraud, Securities and Exchange Commission ProceedingsThe story of the week is the U.S. Securities and Exchange Commission filing a complaint against international investment firm Goldman Sachs ("Goldman") on April 15 in the U.S. District Court for the Southern District of New York, alleging that Goldman and a Goldman employee, Fabrice Tourre, a former Vice President of Goldman in New York… Continue Reading
SEC Announces New Tools to Secure Cooperation in Investigations and Enforcement Proceedings
Posted in Immunity, Securities and Exchange Commission ProceedingsThe Securities and Exchange Commission announced this week a new initiative to encourage private individuals and corporations to cooperate in SEC investigations and enforcement. The SEC will revise its Enforcement Division’s enforcement manual to add a new section entitled "Fostering Cooperation." The section will allow SEC investigators to use the following "tools": Cooperation Agreements —… Continue Reading
SEC Complaint Against Florida Hedge Fund Managers for Violations of Anti-Fraud Provisions
Posted in Fraud, Securities and Exchange Commission ProceedingsOn Monday, the SEC filed a Complaint for Injunctive and Other Relief, in Federal court in Tampa, Florida, which may be viewed here, against Neil V. Moody and Christopher D. Moody, managers of the hedge funds Valhalla Investment Partners, L.P., Viking IRA Fund, LLC, and Viking Fund, LLC. Neil Moody, 71, and his son Christopher… Continue Reading