Category Archives: SEC

Litigation Release No. 24613 / September 24, 2019 Securities and Exchange Commission v. James Wallace Nall, III, et al., Civil Action No. 2:19-cv-00702 (S.D. Ala. filed September 23, 2019) On September 23, 2019, the Securities and Exchange Commission charged a Birmingham, Alabama-based real estate developer with securities fraud based on confidential information he provided to […]

The Securities and Exchange Commission today announced new charges arising from a New York-based boiler-room scheme, alleging that Benjamin Conde orchestrated the manipulation of millions of shares of Renewable Energy and Power, Inc. (“RBNW”), generating approximately $3.1 million in illegal proceeds. The SEC alleges the fraudulent scheme began when Conde, a securities fraud recidivist, acquired […]

The U.S. Securities and Exchange Commission (“SEC”) filed settled charges against Brian D. Barrilleaux September 17, 2019. The SEC’s complaint alleges that Barrilleaux, of Houston, Texas, violated the antifraud provisions of the federal securities laws by assisting a Houston, Texas-based penny stock fraud ring (“the Group”) through recklessly arranging materially misleading penny stock promotional campaigns […]

The Securities and Exchange Commission today charged penny stock issuer Efuel EFN Corp., its CEO, Ljubica Stefanovic, and its CFO, Slavoljub Stefanovic, for fraudulently misrepresenting that the company owned California gold mine interests worth $500 million. The SEC’s complaint, filed in U.S. District Court for the Middle District of Florida, alleges that, in its first […]

Washington D.C. Sept. 24, 2019 Before the U.S. House of Representatives Committee on Financial Services Chairwoman Waters, Ranking Member McHenry and Members of the Committee, thank you for the opportunity to testify before you today about the work of the U.S. Securities and Exchange Commission (SEC or Commission or agency).[1]   Overview—The SEC’s Mission, People and Governance  […]

Washington D.C. Sept. 24, 2019 Chair Waters, Ranking Member McHenry, and members of the Committee, thank you very much for the opportunity to join you today. It is my honor to be joining my colleagues to testify before you on our task at the Securities and Exchange Commission—protecting ordinary American investors. Before I joined the […]

Washington D.C., Sept. 23, 2019 — The Securities and Exchange Commission today announced new charges arising from a New York-based boiler-room scheme, alleging that Benjamin Conde orchestrated the manipulation of millions of shares of Renewable Energy and Power Inc. (RBNW), generating approximately $3.1 million in illegal proceeds. The SEC alleges the fraudulent scheme began when Conde, a securities […]

Sept. 23, 2019 Good afternoon from Washington, D.C.  I am grateful for the opportunity to speak with you today during this fifth annual Treasury market conference.  I wish I could be there with you in person, but I appreciate the accommodation, and your time, so that I can share a few of my thoughts with […]

Litigation Release No. 24608 / September 23, 2019 U.S. Securities and Exchange Commission v. Christopher Fulco (a/k/a Christian Anthony, Johnathan Stewart, and Michael Barron), and JM Capital Holdings LLC, as Defendants, and Jamie Milione, as Relief Defendant, No. 19-civ-5318 (E.D.N.Y. filed September 18, 2019) The Securities and Exchange Commission today announced charges against a broker […]

Litigation Release No. 24607 / September 23, 2019 Securities and Exchange Commission v. Jonathan C. Lucas, No. 19-civ-08771 (S.D.N.Y. filed September 20, 2019) The Securities and Exchange Commission has charged Jonathan C. Lucas, the former founder and chief executive officer of Fantasy Market, a purported online adult entertainment marketplace, with orchestrating a fraudulent initial coin […]