Fraud

Broker makes 9 unauthorized sales

Daniel Micha, a broker with RBC Capital Markets in 2009 has been fined and suspended by FINRA because he made trades that were unauthorized by his client and then failed to report her complaints. On August 18, 2009, Micha sold nine securities positions with a total worth of $326,000 without his client’s consent. Soon after, […]

By Staff |June 22, 2012

1 min read

Industry

Fraudsters are ahead of regulators

Risky trading practices that caused huge losses for J.P. Morgan went undetected by U.S. regulators, sparking Congressional hearings at which SEC officials have been taken to task and one top official admitted some red flags went unheeded.

By Philip Porado |June 12, 2012

3 min read

Industry

Takeaway: Fraud lessons

We’re committed to making your practice better, so all this month, we’re delivering you a daily takeaway.

By Staff |June 8, 2012

1 min read

Industry

E-mail fraud causes tax trouble

One lawyer’s dismal drama leads to unexpected payments to CRA

June 6, 2012

3 min read

First Leaside founder deceived investors: OSC

OSC alleges David Charles Phillips, founder and directing mind of First Leaside Group, intentionally deceived investors by selling and overseeing securities sales of approximately $19 million in 2011, while withholding important information.

By Staff |June 5, 2012

2 min read

OSC sanctions Sextant Capital for fraud

An Ontario Securities Commission (OSC) panel has released its reasons for decision on sanctions and costs against Sextant Capital Management (SCM), Sextant Capital GP (SC), Otto Spork, Konstantinos Ekonomidis, and Natalie Spork (N. Spork). On May 17, 2011, an OSC panel found Spork, SCM and SC committed fraud contrary to the Securities Act. The panel […]

By Staff |June 5, 2012

1 min read

Unregistered rep faces 11 AMF charges, fine

The Autorité des marchés financiers (AMF) has launched a penal proceeding against Sylvain Laroche, born August 6, 1961*, for illegal distributions and illegal practice as a securities dealer and derivatives adviser. He’s now facing 11 charges, and the AMF is seeking $432,000 in fines from him. Laroche allegedly convinced two investors to make investments in […]

By Staff |June 1, 2012

1 min read

SEC fines U.S. fund-manager

Disgorgement is such an ugly word. But it could happen to Jason J. Koiner, a New York-based ‘fund manager’ and his two firms Absolute Fund Management and Absolute Fund Advisors. The SEC alleges that since November 2011 Koiner raised $11 million selling investors limited partnership interests. He promised investors that he would allocate capital of […]

1 min read

Fraud

Broker makes 9 unauthorized sales

Fraudsters are ahead of regulators

Takeaway: Fraud lessons

E-mail fraud causes tax trouble

First Leaside founder deceived investors: OSC

OSC sanctions Sextant Capital for fraud

Unregistered rep faces 11 AMF charges, fine

SEC investigates major Florida Ponzi scheme

SEC fines U.S. fund-manager

Canadian ran U.S. Ponzi scheme, fined