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Selected Press Releases

Assets Frozen in Alleged Immigration Scam

11/19/2015

The Securities and Exchange Commission today announced it has obtained a court order freezing the assets of a South Florida woman and her company accused of purchasing a boat and luxury cars with money she raised from investors seeking U.S. residency through the EB-5 Immigrant Investor Pilot Program. Read more

SEC Charges Pump-and-Dump in Marley Coffee Stock

11/17/2015

The Securities and Exchange Commission today announced fraud charges against several alleged perpetrators behind a $78 million pump-and-dump scheme involving the stock of Jammin’ Java, a company that operates as Marley Coffee and uses trademarks of late reggae artist Bob Marley to sell coffee products.Read more

Mutual Fund Adviser Advertised False Performance Claims

11/16/2015

The Securities and Exchange Commission today announced that a Hartford, Conn.-based investment management firm agreed to pay $16.5 million to settle charges that it misled mutual fund investors and others with advertisements containing false historical performance data about AlphaSector, a major exchange-traded fund (ETF) portfolio strategy.Read more

SEC Bars Brokers Who Played Favorites to Double Their Commissions

10/28/2015

The Securities and Exchange Commission today barred two brokers at a now-defunct Connecticut brokerage for giving customer order information to certain favored customers, helping those customers get better prices while generating extra commissions for their firm. The SEC also ordered the brokers to pay financial penalties. Read more

Developer, Former Top Execs Charged for Improper Accounting of Real Estate Assets During Financial Crisis

10/27/2015

The Securities and Exchange Commission today charged The St. Joe Company, a Watersound, Florida-based real estate developer and landowner, its former top executives, and two former accounting department directors, with improperly accounting for the declining value of its residential real estate developments during the financial crisis. As a result of this misconduct, St. Joe reported materially overstated earnings and assets in 2009 and 2010. Read more