Corporate and Financial Weekly Digest - Volume IX, Issue 24

In this issue:

- Commissioner Kara M. Stein Calls for More Stringent Net Capital Requirements for Broker Dealers

- US Marshals Service Announces Auction of Silk Road Bitcoins

- Investment Adviser Accused of $8.8 Million Fraud by SEC

- Trading Evidence Barred From Rengan Rajaratnam Trial

- Excerpt from Investment Adviser Accused of $8.8 Million Fraud by SEC:

On June 3, the Securities and Exchange Commission filed an emergency enforcement action in the US District Court for the Southern District of New York against Scott Valente, an investment adviser, alleging that he used his advisory firm, ELIV Group, to fraudulently lure approximately 80 clients to invest more than $8.8 million. Valente also allegedly misappropriated at least $2.66 million of investor funds for personal use. The SEC charged Valente and ELIV with violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(b) as well as Sections 206(1) and 206(2) of the Investment Advisers Act of 1940. Valente denied the allegations.

Please see full newsletter below for more information.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Katten Muchin Rosenman LLP | Attorney Advertising

Written by:

more+
less-

Katten Muchin Rosenman LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×