Selected Press Releases
SEC Shuts Down $600 Million Online Pyramid and Ponzi Scheme
08/17/2012
The Securities and Exchange Commission today announced fraud charges and an emergency asset freeze to halt a $600 million Ponzi scheme on the verge of collapse. The emergency action assures that victims can recoup more of their money and potentially avoid devastating losses.Read moreSEC Charges College Football Hall of Fame Coach in $80 Million Ponzi Scheme
08/16/2012
The Securities and Exchange Commission today announced fraud charges against a former college football coach who teamed with an Ohio man to conduct an $80 million Ponzi scheme that included other college coaches and former players among its victims.Read moreSEC Charges Oracle Corporation With FCPA Violations Related to Secret Side Funds in India
08/16/2012
The Securities and Exchange Commission today charged Oracle Corporation with violating the Foreign Corrupt Practices Act (FCPA) by failing to prevent a subsidiary from secretly setting aside money off the company's books that was eventually used to make unauthorized payments to phony vendors in India.Read moreSEC Halts Denver-Based Ponzi Scheme
08/15/2012
The Securities and Exchange Commission today announced fraud charges and an emergency asset freeze against a Denver-based company and two Colorado residents carrying out a $15.7 million Ponzi scheme harming more than 120 investors nationwide.Read moreSEC Charges Wells Fargo for Selling Complex Investments Without Disclosing Risks
08/14/2012
The Securities and Exchange Commission today charged Wells Fargo’s brokerage firm and a former vice president for selling investments tied to mortgage-backed securities without fully understanding their complexity or disclosing the risks to investors.Read more