SEC Obtains Emergency Relief to Halt Pre-IPO Stock Fraud Scheme by Unregistered Broker-Dealer

SEC

The Securities and Exchange Commission today announced that it obtained asset freezes and other emergency relief against StraightPath Venture Partners LLC, StraightPath Management LLC, Brian K. Martinsen, Michael A. Castillero, Francine A. Lanaia, and Eric D. Lachow (collectively, the defendants) to halt ongoing securities violations, including allegedly selling pre-initial public offering (IPO) shares they did not own, pocketing undisclosed fees, and commingling investor funds, resulting in Ponzi scheme-like payments. The relief arose from fraud and registration charges filed by the SEC. read more »

U.S. Supreme Court to hear SEC bid to avoid challenge to in-house judges

REUTERS

The U.S. Supreme Court on Monday agreed to hear the Securities and Exchange Commission's bid to block a challenge to the constitutionality of its in-house tribunal brought by a Texas accountant who the agency punished after faulting her audits of publicly traded companies. read more »

Goldman Sachs officials reach $79.5 million shareholder settlement over 1MDB scandal

REUTERS

Goldman Sachs Group Inc (GS.N) officers and directors reached a $79.5 million settlement to resolve shareholder claims that their poor oversight contributed to the bank being enmeshed in the looting scandal at Malaysia's 1MDB sovereign wealth fund. read more »