Investment Adviser Charged in Multi-Million Dollar Options Trading Scheme
Posted 10/6/17
By the C|C Whistleblower Lawyer Team
The SEC charged a Westchester, New York-based investment adviser with fraud stemming from lies to retail investors about the value of their investments in a Ponzi-like scheme.
The SEC alleges that, starting in approximately 2010, Michael Scronic began to raise money from at least 42 friends and acquaintances, many of whom were from his suburban community, in order to invest...
By the C|C Whistleblower Lawyer Team
An 
Aegerion Pharmaceuticals will plead guilty to charges concerning its prescription drug, Juxtapid, the Department of Justice announced on Friday. According to the Justice Department’s press release:
Aegerion introduced Juxtapid into interstate commerce that was misbranded because, among other things, Aegerion failed to comply with a Risk Evaluation and Mitigation Strategy (REMS). The resolution also...
On Monday, the Department of Justice filed a civil suit against Paul Mangione, the former Deutsche Bank head of subprime mortgage trading, alleging that he “systematically and intentionally” lied about the quality of subprime mortgages underlying nearly $1.5 billion in mortgage-backed securities in the run-up to the 2008 financial crisis. Although DOJ has 
By the C|C Whistleblower Lawyer Team
Last Thursday, Equifax 
By the C|C Whistleblower Lawyer Team
The SEC announced insider trading charges against seven individuals who generated millions in profits by trading on confidential information about dozens of impending mergers and acquisitions. Data analysis allowed the SEC’s enforcement staff to uncover the illicit trading despite the traders’ alleged use of shell companies, code words, and an encrypted, self-destructing...
By the C|C Whistleblower Lawyer Team
A $2.5M 
By the C|C Whistleblower Lawyer Team
On Wednesday, a Chicago judge sentenced 26-year-old Randall Rye to nearly six years in prison for what federal prosecutors have called a “mini-Bernie Madoff scam.” Rye, the founder of Faster Than Light Trading LLC, pled guilty in April to one count of wire fraud and admitted to bilking around 20 investors of more than $1.7 million with a fake proprietary trading scheme. He...
By the C|C Whistleblower Lawyer Team
Two whistleblowers are apparently set to share a record $61 million award from the SEC for helping make the case that JPMorgan Chase & Co. failed to disclose to wealthy clients that it was steering them into investments that would be most profitable for the bank.
The SEC issued letters notifying six whistleblower applicants of the preliminary decision. The letters said that...
By the C|C Whistleblower Lawyer Team
On Tuesday, a federal grand jury in San Antonio returned two indictments against state senator Carlos Uresti in connection with two schemes—one involving alleged kickbacks for a medical services contract at a county jail, and a second dealing with an alleged Ponzi scheme that marketed sand used for hydraulic fracking. He now faces more than a dozen criminal charges and,...