The SEC brought another action centered on the municipal bond market. This case, against the City of Miami and its former Budget Director, not only
A corporate director and division CEO of a Fortune 1,000 company who systematically abused his position, obtaining payments from vendors and misappropriating company property, was undone by a whistleblower.
The SEC announced the filing of civil fraud charges against eleven individuals and eight companies in nine cases.
Lawyers are often viewed as the gatekeepers because of their position in corporate transactions.
This week the Commission prevailed in a litigated action, securing the relief it sought against a defendant and his company after prevailing on summary judgment.
The SEC brought a fraud action against a company and its Chairman and President for defrauding company shareholders out of more than $110 million in the sale of their shares to the company by paying prices which were as much as 300 under value.
Joel Esquenazi, the president of Miami based Terra Telecommunications Corp., and Carlos Rodriguez, the executive vice president of the company, were convicted on all counts following a jury trial.
SEC v. DBH Industries, Inc., Civil Action No. 0:11-cv-60431 (S.D. Fla. Filed Feb. 28, 2011) and SEC v. Krantz, Civil Action No. 0:11-cv-60432 (S.D. Fla. Filed Feb. 28, 2011) are two fraud actions arising from the demise of military bullet proof vest manufacturer DBH Industries, otherwise known as Pont Blank Solutions.
Insider trading cases can be difficult to prove.
SEC v. Wall Street Communications, Inc., Civil Action No. 8:09-cv-1046 (M.D. Fla.) is an action against Howard Scalia and his company, Wall Street Communications as well as Ross Barall and Donald McKelvey.