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Native American Energy Group, Inc , et al (Release No LR-25748; Jun 16, 2023)
sec.gov - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sec.gov Daily Mail and Mail on Sunday newspapers.
Martin Silver (Release No LR-25673; Mar 23, 2023)
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Litigation Release No. 25028 / February 10, 2021
Securities and Exchange Commission v. David Hu, Civil Action No. 1:20-cv-05496 (S.D.N.Y. filed July 17, 2020)
On February 1, 2021, Judge Denise L. Cote of the U.S. District Court for the Southern District of New York entered a partial judgment against David Hu, the co-founder and chief investment officer of International Investment Group (IIG), a formerly registered investment adviser, enjoining Hu from violating the antifraud provisions of the federal securities laws. The Commission revoked IIG s registration in November 2019.
According to the SEC s complaint, from October 2013, Hu orchestrated multiple frauds on IIG s investment advisory clients. As alleged, Hu grossly overvalued the assets in IIG s flagship hedge fund, resulting in the fund paying inflated fees to IIG, some of which went to Hu personally. In addition, through IIG, Hu allegedly sold at least $60 million in fake trade finance loans to other investors and used
FOR IMMEDIATE RELEASE Washington D.C., Feb. 1, 2021
The Securities and Exchange Commission today charged three individuals with defrauding hundreds of retail investors out of more than $11 million through two fraudulent and unregistered digital asset securities offerings.
According to the SEC s complaint, filed in U.S. District Court for the Eastern District of New York, from approximately December 2017 through May 2018, Kristijan Krstic, founder of Start Options and Bitcoiin2Gen, and John DeMarr, the primary U.S.-based promoter for these companies, fraudulently induced investors to buy digital asset securities. The SEC alleges that, from approximately December 2017 through late January 2018, Krstic and DeMarr touted Start Options purported digital asset mining and trading platform. According to the complaint, they falsely claimed Start Options was the largest Bitcoin exchange in euro volume and liquidity and consistently rated the best and most secure
Litigation Release No. 24993 / December 22, 2020
Securities and Exchange Commission v. Charles Samel, Civil Action No. 1:20-cv-10769 (S.D.N.Y. filed December 21, 2020)
The Securities and Exchange Commission charged Charles Samel, a former consultant for former registered investment adviser International Investment Group LLC (IIG), for his role in an alleged fraud conducted by IIG to cover up tens of millions of dollars in investor losses on bad bets in order to keep its investment advisory business afloat.
As alleged in the SEC s complaint, Samel assisted IIG s principals in concealing the fraudulent nature of a loan asset in the fund s portfolio. The complaint alleges that when auditors asked questions about the prospects that the fake loan would be repaid, Samel helped prepare a sham agreement falsely documenting the sale of the fake loan by the fund. The sham agreement was allegedly provided to the auditors to resolve their concerns about the loan and, as a result, no issues
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