Kevin Lasky's Role in MCA Financial's $256.6M Fraud Scheme
Kevin Lasky was charged in connection with MCA Financial Corporation's fraudulent scheme led by CEO Patrick D. Quinlan, Sr., resulting in $256.6M in restitution.
White Collar Crime
The latest white collar crime coverage from ConFraud.
James Nathan Grimes' $550,710 Pay Telephone Fraud Scheme
James Nathan Grimes and Dennis Watts were charged by the SEC for fraudulent pay telephone scams, resulting in $550,710 in penalties and permanent injunctions.
Robert A. Kasirer's $4.9M Municipal Bond Fraud Scheme
Robert A. Kasirer was permanently enjoined and ordered to pay over $4.9 million for orchestrating municipal revenue bond offering fraud in violation of securities laws.
Gary B. Taffet's $402,739 Insider Trading Penalty
Former New Jersey political figure Gary B. Taffet settled SEC insider trading charges, paying $402,739 in disgorgement, interest, and civil penalties.
Conrad M. Black's $85M Disclosure Fraud at Hollinger Inc.
Conrad M. Black and F. David Radler diverted $85 million from Hollinger Inc. through a fraudulent scheme, resulting in a $21.3M settlement with the SEC.
Morris Gad's $399,187 Insider Trading Settlement
Morris Gad settled SEC charges for insider trading based on tips from Nathan Rosenblatt, paying $399,187 in penalties and accepting a permanent injunction.
Aaron B. Fletcher's $200K Municipal Bond Fraud and Violations
Aaron B. Fletcher and Twin Spires Financial LLC penalized $200,000 for fraudulent municipal bond offerings and failure to register as a municipal advisor.
Garfield M. Taylor's $27.9M Ponzi Scheme and Securities Fraud
Garfield M. Taylor and Jeffrey A. King orchestrated a multi-million dollar Ponzi scheme through Garfield Taylor, Inc., resulting in $27.9M in penalties.
Michael R. Warren's $628K Fake Insurance Annuity Fraud
Michael R. Warren pled guilty to selling non-existent insurance annuity contracts and misappropriating client funds, ordered to pay $628,107 in California.
Claude W. Savage's $1.4M Securities Fraud and Pyramid Scheme
Claude W. Savage was involved in International Heritage, Inc.'s pyramid scheme that defrauded investors, resulting in a $1.4M penalty for securities violations.
Dennis Herula's $40M Fraudulent Investment Scheme
Former broker Dennis Herula was arrested by the SEC for orchestrating a $40 million fraudulent investment scheme, with criminal charges filed in Colorado.
David B. Lobel's $600K Securities Fraud in AppleTree Offering
David B. Lobel, former officer of The AppleTree Companies, faced SEC action for material misrepresentations in 1992 securities offering, resulting in $600K penalty.
Peter Dong Zhou's $592,942 Insider Trading & Securities Fraud
Peter Dong Zhou settled SEC charges for insider trading and securities fraud related to China Yingxia International, Inc., paying $592,942 in penalties.
Victor L. Ziller's $125,000 Securities Fraud Penalty
Victor L. Ziller faced securities fraud charges in the Platforms Wireless International Corp. case, resulting in a $125,000 penalty in California.
Pratima Rajan's $648K Insider Trading Scheme
Pratima Rajan was charged in an SEC insider trading case involving Arjun Sekhri and others that generated $1.8 million in illicit profits, settling for $648,201.
Jackie Gross $1.6M SEC Settlement for Disclosure Fraud
Jackie Gross and affiliates Telvest Communications and Morgan Spaulding settled SEC charges for $1.6M involving disclosure fraud and unregistered broker-dealer activities.
Jerome E. Rosen: $15M Stock Manipulation Scheme, $75K Penalty
Jerome E. Rosen and nine others charged in SEC lawsuit for manipulating Systems of Excellence, Inc. stock, defrauding investors of nearly $15 million.
David Syre Pays $61K in Metropolitan Mortgage Securities Fraud
David Syre settled SEC charges related to financial reporting fraud at Metropolitan Mortgage & Securities Co., paying $61,508 in penalties and accepting injunctions.
Roger Kao: $30.8M Syntax-Brillian Insider Trading & Fraud Scheme
Roger Kao (a/k/a Chao Chun Kao) was involved in a $30.8M insider trading and financial fraud scheme at Syntax-Brillian Corporation alongside CEO James Li.
Robert S. Agriogianis: $2.8M Chinese Reverse Merger Stock Fraud
Robert S. Agriogianis was involved in a Chinese reverse merger scheme that manipulated stock trading, resulting in $2.8M in penalties and settlements.
Walter Ng & Associates: $5.2M SEC Settlement for Mortgage Fund Fraud
Walter Ng, Kelly Ng, and Bruce Horwitz settled SEC fraud charges for misusing Mortgage Fund '08 LLC assets, resulting in $5.2M in penalties and industry bans.
Artur Khachatryan Settles SEC Spoofing Charges for $373,885
Artur Khachatryan settled SEC charges for conducting a manipulative spoofing scheme in securities trading, paying $373,885 in disgorgement and penalties.
David Plate: Schottenfeld Group Pays $1.2M in Insider Trading Case
David Plate and Schottenfeld Group LLC settled SEC insider trading charges for $1.2 million, including disgorgement, interest, and civil penalties.
Thomas F. Goodman's $7.4M Fraudulent Securities Offering
Thomas F. Goodman and co-defendants were found liable for $7.4M in a fraudulent securities offering involving false promises of extraordinary returns.
Yao Lin's $220M International Pyramid Scheme Fraud
Yao Lin and CKB168 Holdings Ltd. were ordered to pay over $220 million in a final judgment for operating an international pyramid scheme targeting investors.
Ryan Petersen OCZ Technology $130K SEC Accounting Fraud Case
Ryan Petersen, former OCZ Technology executive, faced SEC charges for accounting fraud and disclosure failures, resulting in a $130,000 penalty and ongoing litigation.
Edward O'Donnell Pays $225K for Pareteum Revenue Recognition Fraud
Edward O'Donnell and Victor Bozzo, former Pareteum executives, faced SEC enforcement resulting in $225,000 in penalties for orchestrating a revenue recognition scheme.
Kevin L. Lawrence: $91.6M Znetix Stock Fraud Scheme
Kevin L. Lawrence sentenced to 20 years in prison and ordered to pay $91.6M in restitution for his role in the Znetix stock fraud scheme involving securities fraud.
Steven Brewer's $5.2M World Vision Entertainment Ponzi Scheme
Steven Brewer was permanently enjoined in the World Vision Entertainment Ponzi scheme case, with SEC ordering $5.2M in disgorgement and penalties.
John K. Bradley: $75K Penalty in Physician Computer Network Fraud
John K. Bradley settled SEC accounting fraud charges related to Physician Computer Network, Inc., agreeing to a $75,000 penalty and permanent injunction.
Kevyn Rakowski: $70K Penalty for Wilmington Trust Loan Fraud
Kevyn Rakowski, former Wilmington Trust officer, paid $70,367 for fraudulently excluding past due real estate loans from financial reports in Delaware.
Hung Chin: $4.1M Penalty for Hacked Insider Trading Scheme
Hung Chin received a $4.1M penalty for fraudulently trading on hacked nonpublic information from New York law firms, generating nearly $3M in illegal profits.
Jerome L. Wilson: $300K Penalty in CT Pension Fund Fraud Scheme
Jerome L. Wilson paid $300,667 to settle SEC charges in a Connecticut state pension fund investment fraud scheme orchestrated by former state Treasurer Paul J. Silvester.
James S. Eberhart: $2.3M Unregistered Securities Fraud at Debisys
James S. Eberhart fraudulently sold $2.3 million in unregistered securities through Debisys, Inc., resulting in SEC permanent injunction and $76,102 penalty.
Owen R. Fox Faces $7.9M Contempt Motion for Securities Fraud
Owen R. Fox and Bruce Franklin face SEC civil contempt motion for failing to pay $7.9M in disgorgement after securities law violations involving fraud.
Russell Kersh's $500,000 Accounting Fraud Penalty at Sunbeam
Russell Kersh, former Sunbeam Corporation executive, paid $500,000 and received a permanent ban from serving as officer or director for accounting fraud.
Barry Liss: $464K Penalty in Oil Well Offering Fraud Scheme
Barry Liss and Carol J. Wayland faced SEC action for oil well offering fraud involving unregistered securities and investor fund misappropriation totaling $464,665.
Robert Walton, Jr. Pays $1M+ for Securities Fraud at Hadsell
Robert Walton, Jr., former President of Hadsell Chemical Processing, LLC, ordered to pay over $1 million for misrepresenting facts to investors and failing to register securities.
Christopher Barclay and Jesse Finalyson: The Bankruptcy Trustee and Attorney Accused of Settling $75 Million in Claims for $200,000
A bankruptcy malpractice adversary proceeding accuses Chapter 7 trustee Christopher R. Barclay and his colleague Jesse Finalyson of settling $75 million in claims for a total of $200,000, then approving a sale of the remaining estate claims to the very man accused of orchestrating the criminal enterprise -- for another $100,000. The law firm they worked for, Finlayson Toffer Roosevelt and Lilly LLP, appears to have dissolved.
By Raymond Kwok
Mark Alan Lisser: $961K Penalty for Boiler Room Securities Fraud
Mark Alan Lisser was permanently enjoined and ordered to pay $961,440 for operating a boiler room scheme through Knightsbridge Capital Partners.
Thomas W. Davis: Enron Broadband Fraud Case Dismissed
Thomas W. Davis, former Enron executive, had SEC civil fraud charges dismissed in the Enron Broadband Services case. Other defendants paid $1.0M in penalties.
Farhang Afsarpour's $386K Insider Trading Penalty
Farhang Afsarpour received a $386,671 penalty in an SEC insider trading case alongside Sasan Sabrdaran, who also faced an officer and director bar.
Louis Peter Goff's $2.1M Forex Trading Fraud in Utah
Louis Peter Goff and co-conspirators orchestrated a fraudulent high-yield Forex trading program through Utah fund managers, resulting in $2.1M in losses.
Leslie A. Arouh Faces $110K Penalty for Bond Trading Fraud Scheme
Leslie A. Arouh was ordered to pay a $110,000 civil penalty by the SEC for violating antifraud provisions in connection with an adjusted trading scheme involving corporate bonds.
Yair Shamir: $100K Penalty for Stock Option Backdating Fraud
Yair Shamir, former Mercury Interactive director, paid $100,000 to settle SEC charges for approving backdated stock option grants and misleading disclosures.
Loretta Antrim Ostrich Breeding Fraud: $819K Investment Scheme
Loretta Antrim involved in fraudulent ostrich breeding investment scheme that raised over $819,000 from investors through deceptive investment contracts.
Steven Craig Lusardi: $900K Insider Trading Scheme at Restoration Hardware
Steven Craig Lusardi, former Restoration Hardware VP, and three associates charged in insider trading scheme generating over $900K in illegal profits.
Bradley Hamilton's $265,000 Pension Transfer Disclosure Fraud
Bradley Hamilton misled clients about pension transfers and concealed conflicts of interest at Devere USA, Inc., resulting in a $265,000 penalty from the SEC.
Yatin D. Mody's $3.0M Revenue Recognition & Backdating Fraud
Yatin D. Mody, former Vitesse Semiconductor executive, faced SEC charges for revenue recognition fraud and options backdating schemes totaling $3.0M.
Stephen Durland: NY CPA Pays $230K in $112M Pump-and-Dump Scheme
Former New York CPA Stephen Durland settled SEC charges for his role in a $112 million pump-and-dump scheme, agreeing to pay $230,464 and accept a penny-stock bar.
Susann Ashley Cargnino: $17M Medical Device Fraud Scheme
Susann Ashley Cargnino and three others defrauded investors of over $7 million in a Michigan medical device scam, resulting in $17M+ in penalties.
Alfred M. Lemcke Sentenced for $843K Investment Fraud Scheme
Alfred M. Lemcke sentenced to 27 months in prison and ordered to pay $843,470 in restitution for defrauding investment clients in Massachusetts.
Brian Fettner's $252K Insider Trading Scheme
Brian Fettner illegally profited over $250,000 by trading G&K Services stock using confidential information obtained from a friend, leading to SEC charges.
Gerald P. Alexander's $2.4M Unregistered Securities Fraud
Gerald P. Alexander and his companies CJB Consulting and Regis Filia Holdings faced $2.4M in penalties for unregistered securities sales and broker violations.
Henry Morris & Quadrangle: $5M Penalty for Pension Kickbacks
Henry Morris's Quadrangle Group LLC paid $5M to settle SEC charges over a kickback scheme involving New York's largest pension fund through undisclosed payments.
Steven R. Eagleburger: $110K Penalty in FLIR Systems Fraud
Steven R. Eagleburger, former FLIR Systems executive, paid $110,000 to settle SEC charges of accounting fraud and inflating earnings in 1998-1999.
Neil Dolinsky: $2M Penalty in Zomax Insider Trading Case
Neil Dolinsky, former Zomax officer, faced SEC insider trading charges resulting in a $2 million penalty. The case involved financial reporting fraud.
James S. Sholeff's $200,000 Securities Fraud Settlement
James S. Sholeff, former PurchasePro.com executive, settled SEC charges for financial fraud with a $200,000 penalty and guilty plea in federal criminal case.
William F. McFarland's $375K Accounting Fraud at Riverstone
William F. McFarland settled SEC charges for inflating Riverstone Networks' revenues through improper recognition, paying $375,000 in penalties.
Patrick H. McCarthy III: $100K Penalty for SEC Fraud & Obstruction
Patrick H. McCarthy III paid $100,000 in civil penalties for antifraud violations of federal securities laws and obstruction of SEC proceedings.
Philip R. Jacoby Jr.: $1.5M Osiris Accounting Fraud Settlement
Philip R. Jacoby Jr. and three other Osiris Therapeutics executives faced SEC charges for accounting fraud that overstated performance, resulting in a $1.5M settlement.
Shane Schmidt: $12M+ SEC Penalties in COVID-19 Microcap Fraud
Shane Schmidt and four entities ordered to pay over $12 million in SEC penalties for COVID-19-related microcap fraud scheme in Gomes et al. case.
Kim J. Brown Hit with $110K Penalty for Unregistered Broker Fraud
Kim J. Brown faced SEC action for orchestrating fraudulent stock sales and acting as an unregistered broker, resulting in $110,000 in penalties and injunctions.
Michael Lauer's $62.5M Securities and Disclosure Fraud Penalty
Michael Lauer was ordered to pay over $62 million in disgorgement plus a $500,000 civil penalty for securities fraud and disclosure fraud violations.
William M. Beecher's $1.9M Revenue Overstatement Fraud
Former i2 Technologies CFO William M. Beecher settled SEC charges for overstating revenues, paying $1.9M and accepting a five-year officer ban.
George Chachas: $630K Penalty in $12M Stock Manipulation Scheme
George Chachas faced SEC action in the Cavanagh case for manipulating Electro Optical Systems stock, part of a scheme that generated over $12 million in illegal profits.
Lewis Allen Rivlin Liable for $6.5M in Securities Fraud Scheme
Lewis Allen Rivlin was found liable for securities fraud involving a fraudulent high-yield bank debenture trading program and ordered to pay over $6.5 million.
Douglas A. Parigian Insider Trading Case: $51,460 Penalty
Douglas A. Parigian was involved in an insider trading scheme with amateur golfers targeting American Superconductor Corporation, settling for $51,460.
James Rudolph Insider Trading: $801K Penalty in Tallgrass Energy Case
James Rudolph was charged by the SEC with insider trading related to Tallgrass Energy LP, resulting in penalties totaling $801,742 and permanent injunctions.
Larry A. Stockett's $1.8M Disclosure Fraud and Scheme
Larry A. Stockett orchestrated a fraudulent scheme involving Hightec, Inc. and The S.I.N.C.L.A.R.E. Group, Inc., resulting in $1.8M in penalties and injunction.
Laura Mascola's $3.5M BitConnect Unregistered Securities Case
Laura Mascola, along with BitConnect promoters Michael Noble and Joshua Jeppesen, ordered to pay over $3.5 million for promoting unregistered securities.
Mark A. Belnick: $100K Penalty for Tyco Disclosure Fraud
Mark A. Belnick, former Chief Corporate Counsel of Tyco International Ltd., paid $100,000 and accepted a five-year officer/director ban for disclosure fraud.
Peter M. Stanley: $100K Securities Fraud with Mackie and Fink
Peter M. Stanley received permanent injunction in SEC securities fraud case involving Thomas S. Mackie and Andrew S. Fink, with $100K penalty waived.
James G. Lewis: $1M Penalty in JB Oxford Late Trading Fraud
James G. Lewis, former officer of JB Oxford Holdings, settled SEC civil fraud charges for late trading and market timing schemes, resulting in $1M in penalties.
Jason W. Brola: $120K Penalty for Securities Fraud and Sales
Jason W. Brola received a $120,000 penalty after the SEC obtained default judgments against him and co-defendants for securities fraud and unregistered sales.
Arthur Knapp's $130K Accounting and Disclosure Fraud Settlement
Arthur Knapp, former OCZ Technology executive, settled SEC charges for accounting and disclosure fraud, paying $130,000 alongside co-defendant Ryan Petersen.
George H. Holley's $312,440 Insider Trading Scheme
George H. Holley and Robert J. Hahn-Baiyor paid $312,440 in penalties for insider trading related to Nipro Corporation's acquisition of Home Diagnostics, Inc.
Joshua Craig Reeves: $120M Faith-Based Bond Fraud Scheme
Joshua Craig Reeves and family defrauded investors of $120M through church bonds in Indiana. SEC secured injunctions, asset freezes, and $7.9M in penalties.
Peter Cho Insider Trading: $251K Penalty for Virgin America Options
Peter Cho settled SEC charges for insider trading Virgin America Inc. options using confidential information from his fiancée, netting $250K in illegal profits.
Edgar B. Alacan Faces $110K SEC Penalty Enforcement in New Jersey
Edgar B. Alacan is subject to SEC enforcement action in U.S. District Court for the District of New Jersey to collect a $110,000 civil penalty for securities violations.
Kai H. Stinchcombe Settles SEC Charges for $200K in Special Needs Trust Fraud
Kai H. Stinchcombe and True Link Financial Advisors settled SEC charges for $200,000 related to misuse of special needs pooled trust funds.
John Larson's $175K Securities Fraud via Unregistered Sales
John Larson and others settled SEC charges for selling unregistered partnership units using boiler room tactics, resulting in $175,688 disgorgement penalty.
Michael Luckhoo-Bouche's $8.2M Microcap Fraud Scheme
Michael Luckhoo-Bouche was ordered to pay $8.2M in penalties for involvement in a COVID-19-related microcap fraud scheme alongside four other entities.
Jason C. Wong Hit with $3M Penalty in Corporate Hijacking Scheme
Jason C. Wong, along with Irwin Boock and Stanton B.J. DeFreitas, was ordered to pay part of $12.9M in relief for hijacking 23 defunct companies and selling unregistered securities.
Christopher Beals: $1.5M SEC Penalty for User Metrics Fraud
Christopher Beals and Arden Lee faced SEC charges for negligent misrepresentations about WM Technology's monthly active users, resulting in $1.5M in penalties.
Martin Zaepfel: $170K Penalty for Spiegel Credit Card Fraud
Martin Zaepfel, former Spiegel Inc. officer, paid $170,000 in penalties for overstating credit card receivables and concealing financial reports.
Gary Kendron's $8.2M Securities Fraud at AlphaCom
Gary Kendron and AlphaCom executives settled SEC charges for $8.2M over fraudulent securities sales and false claims about Internet technology ownership.
Morgan Cooper's $125,000 Unregistered Stock Sales Fraud
Morgan Cooper, along with James J. Caprio and Jeffrey G. Nunez, faced SEC charges for unregistered stock sales and false statements, resulting in $250,000+ penalties.
D. Edward Hays: The Beverly Hills Attorney Accused of Architecting a Bankruptcy Fraud Scheme
A federal RICO complaint accuses D. Edward Hays, a Beverly Hills attorney at Marshack Hays LLP, of orchestrating a bankruptcy fraud scheme that converted a Chapter 11 reorganization into a Chapter 7 liquidation, settled $75 million in claims for $200,000, and engineered a sale of the remaining estate claims to the very man accused of leading the criminal enterprise.
Kathleen Fraher's $50M Silvergate Disclosure Fraud Case
Kathleen Fraher, former Silvergate Capital executive, faced SEC charges for misleading investors about compliance and financial condition in a $50M case.
Paul Free's $300,000 Accounting Fraud at Delphi Corporation
Paul Free was charged by the SEC with financial fraud at Delphi Corporation, settling for $300,000 in penalties related to accounting and disclosure violations.
Stanford Cohen's $138,800 Insider Trading Settlement
Stanford Cohen settled SEC insider trading charges involving Bed Bath & Beyond securities for $138,800 without admitting or denying the allegations.
Josh Lintz: The $200,000-a-Year COO Who Allegedly Built a $12 Million Company on Stolen Trade Secrets
Twenty-two months into a $200,000-a-year job as Chief Operating Officer of a thriving La Jolla software company, Joshua Paul Lintz allegedly began dismantling it from the inside -- downloading thousands of confidential files, deleting 130 client projects, and incorporating a competing company that would generate $12 million in its first year using the stolen assets.