securities violations

SEC Files Suit Against and Reaches Settlement with Digital Ad Company

By the Constantine Cannon Whistleblower Team On December 15, the Securities and Exchange Commission (SEC) filed a lawsuit in federal court against social media and digital advertising company Curastory Inc. and its founder and CEO, Tiffany Kelly, and concurrently moved the court to approve a judgment in accordance with the parties’ settlement.[1]  This is yet another example of the SEC bringing an enforcement...

Canadian Man Charged by SEC for $18M+ Investor Fraud Scheme

By the Constantine Cannon Whistleblower Team The Securities and Exchange Commission (SEC) has charged Nathan Gauvin, a Canadian citizen, along with his entities -- Blackridge, LLC, Gray Digital Capital Management USA, LLC, and Gray Digital Technologies, LLC -- with conducting two fraudulent securities offerings that raised over $18 million from investors in the U.S. and internationally. The SEC alleges that Gauvin...

Virtu Agrees to Pay $2.5M to Settle SEC Lawsuit Concerning Customer Data

By the Constantine Cannon Whistleblower Team Virtu Americas LLC recently agreed to pay a civil penalty of $2.5 million to the SEC to settle claims that Virtu violated securities laws by making materially false and misleading statements regarding information barriers to prevent misuse of customer data.[1]  This settlement and final judgment resolves a case that the SEC brought against broker-dealer Virtu Americas...

Former CEO and Chairman Bradley Heppner Accused of Fraud Scheme Targeting Public Company

By the Constantine Cannon Whistleblower Team On November 4, federal prosecutors unsealed an indictment charging the founder and former CEO of the financial services startup Beneficient, Bradley Heppner, with securities fraud, wire fraud, conspiracy to commit securities fraud and wire fraud, false statements to auditors, and falsification of records.[1]

The Alleged Scheme

Prosecutors allege Heppner orchestrated a...

Judge Meg Ryan Named SEC Director of Enforcement -- What It Means For SEC Whistleblowers

By the Constantine Cannon Whistleblower Team

An Unconventional Pick to Lead SEC Enforcement

Last Thursday (August 21), the Securities and Exchange Commission (SEC) announced that Judge Margaret “Meg” Ryan will become the new SEC Director of Enforcement.¹  She will take over for Acting Enforcement Director Sam Waldon, who will return to his prior post of SEC Chief Counsel.  Judge Ryan’s appointment is a...

SEC Issues Annual Whistleblower Report Showing Continued Strength of Whistleblower Program

The Securities and Exchange Commission (SEC) recently issued its Annual Report to Congress detailing the results of the SEC Whistleblower Program over the past fiscal year.  Under the SEC’s program, individuals who provide information to the agency concerning potential securities violations that leads to a successful enforcement action may receive up to 30% of any government recovery. Here are the highlights of...