Securities and Exchange Commission (SEC)

Leroy King: Order Instituting Administrative Proceedings

Order Instituting Administrative Proceedings in U.S. Securities and Exchange Commission v. Leroy King, described as "a dual citizen of both the United States and Antigua and Barbuda" who "served as the Administrator and Chief Executive Officer of the Financial Services Regulatory Commission, an agency of the Antiguan government, from approximately 2002 to 2009" and is currently serving a 10-year prison sentence after pleaded guilty to criminal charges regarding a fraud committed by former banker Allen Stanford

Kim Kardashian: $1.26M Penalties (‘Crypto Promotion-Undisclosed Compensation’)

Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $1.26 million on Kimberly Kardashian, described as "a well-known media personality and businesswoman" for promoting "a crypto asset security" known as EthereumMax (EMAX) without disclosing that she received compensation of "approximately $250,000".

Sparkster Ltd. et al: $30M+ Penalties (‘Unregistered Crypto Offering’)

Administrative Order by the U.S. Securities and Exchange Commission imposing fines and disgorgement totaling $30.75 million on Sparkster Ltd. of the Cayman Islands, and Sajjad Daya, a resident of the United Kingdom, for conducting an unregistered securities offering involving crypto.

Gol Linhas Aéreas Inteligentes SA: $70M Penalty

Administrative Order by the U.S. Securities and Exchange Commission that it has imposed disgorgement and interest totaling $70 million on GOL Linhas Aéreas Inteligentes SA, a.k.a. GOL Intelligent Airlines Inc., of São Paulo, described as "the second largest domestic airline in Brazil by market share", for "a scheme to bribe government officials in Brazil in exchange for certain payroll tax and fuel tax reductions that financially benefited Gol, along with other airlines".

SparkLabs Global Ventures Management LLC et al: $225K Fines

Administrative Order by the U.S. Securities and Exchange Commission imposing fines totaling $225,000 on SparkLabs Global Ventures Management LLC, of Delaware; SparkLabs Management LLC, of Delaware, and Bernard Moon, of California, for "unauthorized and undisclosed inter-fund loan transactions" involving, inter alia, Cayman Islands-domiciled entities based in South Korea and Taiwan.

Hudson Advisors LP et al: $11.2M Fine

Administrative Order by the U.S. Securities and Exchange Commission that it has imposed a fine of $11.2 million on investment advisers Hudson Advisors LP, of Delaware, and Lone Star Global Acquisitions Ltd., of Bermuda, which "failed to fully disclose Hudson's practice for calculating and charging certain fees".

Ridgeview Asset Management Partners LLC: $70K Fine

Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $70,000 on Ridgeview Asset Management Partners LLC for regulatory breaches involving entities in Brazil and USA.

Garrison Investment Group LP: $330K Fine

Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $330,000 on Delaware-domiciled investment adviser Garrison Investment Group LP for regulatory breaches involving entities in the Cayman Islands and USA.

BiscayneAmericas Advisers LLC: $135K Fine

Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $135,000 on BiscayneAmericas Advisers LLC for conduct that involved, inter alia, three Cayman Islands entities.

Perceptive Advisors LLC: $1.5M Fine

Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $1.5 million on Perceptive Advisors LLC for regulatory breaches involving entities in the Cayman Islands and United States.

Corona Associates Capital Management LLC et al: $80K Fines

Administrative Order by the U.S. Securities and Exchange Commission imposing fines totaling $80,000 on Corona Associates Capital Management LLC, of California; Julian Scurci, of Palo Alto, California, and Giovanni Sergio Scurci, a.k.a. John Scurci, of Riviera Beach, Florida, for alleged "material misrepresentations" involving Antilles Capital Master Fund LP and Antilles Capital Fund (BVI) Ltd., both of the British Virgin Islands, and Dorado Capital Partners LP, of California.

Geluk Capital Management Ltd. et al: $93K Penalties

Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $92,688 on Geluk Capital Management Ltd., of the Bahamas, and Douglas Gerald Fathers, of New Jersey, for alleged "misrepresentations".

Petroteq Energy, Inc. et al: Fines

Administrative Order by the U.S. Securities and exchange Commission imposing fines of $1 million and $450,000, respectively, on Petroteq Energy, Inc., of Canada, and Aleksandr Blyumkin, of California.

Tenaris SA: $25M Fine

Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $25 million on Tenaris S.A., described as "a global manufacturer and supplier of steel pipe products and related services, headquartered in Luxembourg", for "violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977 by Tenaris, as a result of a bribe scheme involving agents and employees of its Brazilian subsidiary to obtain and retain business from a Brazil state-owned entity Petróleo Brasileiro S.A.".

Wells Fargo Clearing Services LLC: $7M Fine

Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $7 million on Wells Fargo Clearing Services LLC for "failure to timely file certain suspicious activity reports between April 2017 and October 2021" involving wire transfers "to or from certain foreign countries determined to be at a high risk or moderate risk for money laundering, terrorist financing or other illegal monetary movements", including "Costa Rica, Turkey, Honduras, the British Virgin Islands, Antigua, Cayman Islands, Ukraine, and Guernsey".

Thomas Plaut: Industry Ban

Administrative Order by the U.S. Securities and Exchange Commission imposing an industry ban on Thomas F. Plaut, described as "the sole owner, Chairman, and CEO of Worldwide Markets Ltd., a British Virgin Islands company with its principal place of business in Woodcliff Lake, New Jersey".

Stericycle, Inc.: $24M Penalty

Administrative Order by the U. S. Securities and Exchange Commission imposing a penalty of $23,987,520 on Stericycle, Inc., described as a Delaware-domiciled "world-wide provider of medical waste and other services" for "violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977" involving "wholly-owned subsidiaries in Brazil, Mexico, and Argentina".

John Gunn: Suspension

Administrative Order by the U.S. Securities and Exchange Commission imposing a suspension on John William Gunn, described as a citizen of the United Kingdom residing in Hong Kong.

Global Investment Strategy UK Ltd.: US Industry Ban

Administrative Order by the U.S. Securities and Exchange Commission imposing an industry ban on Global Investment Strategy UK Ltd., described as "a financial services firm registered with and regulated by the Financial Conduct Authority of the United Kingdom, and is a member of the London Stock Exchange".

BlockFi Lending LLC: $50M Fine

Administrative Order by the U. S. Securities and Exchange Commission that it has imposed a fine of $50 million on BlockFi Lending LLC, a New Jersey-based crypto lender, for regulatory breaches, including "material misrepresentation" and operating as "an Unregistered Investment Company".

Ran Armon: Industry Ban

Administrative Order by the U. S. Securities and Exchange Commission imposing an industry ban on Ran Armon, described as a citizen and resident of Canada, for an alleged fraud.

Nicholas Abbate: $30K Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $30,000 on Nicholas Abbate, a resident of Staten Island, New York, for "his role in assisting others in a course of business that operated as a fraud or deceit upon clients and investors", including a mutual fund in the Cayman Islands that is not identified in the order but which OffshoreAlert believes is the Income Collecting 1-3 Months T-Bills Mutual Fund.

Wedbush Securities Inc.: $1.2M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $1.2 million on Wedbush Securities Inc. for the "unregistered offers and sales of large blocks of low-priced securities by an offshore customer", namely Silverton SA, now known as Wintercap SA, described as "a purported Swiss asset manager", and failure to file suspicious activity reports.

WEX Inc.: $350K Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $350,000 on WEX Inc., described as "a Maine-based reporting company that describes itself as a financial technology service provider" for failing "properly to devise and maintain a sufficient system of internal accounting controls at its Brazilian subsidiary, UNIK S.A.", that led to "errors in WEX Brazil’s financial statements back to fiscal year 2013 totaling approximately $85.5 million, mostly relating to the overstatement of unbilled receivables. This amount included about $8 million in suspected theft or unauthorized transactions by former WEX Brazil employees".

VTB Capital Plc: $6.4M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $6.4 million on VTB Capital Plc regarding "material omissions and misleading statements in a 2016 bond offering for which VTB Capital Plc, a London-based investment bank, acted with Credit Suisse Group AG as joint-lead manager".

Credit Suisse Group AG: $99M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $99 million on Credit Suisse Group AG, of Switzerland, regarding "an offering fraud and violations of the internal accounting controls and books and records provisions of the Foreign Corrupt Practices Act ... in connection with three interconnected transactions involving, among others, United Kingdom-based Credit Suisse entities and Mozambican state-owned entities".

Robert Press: $5.4M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $50,000 on Donna M. Silverman to settle allegations of fraud involving TCA Fund Management Group Corp., of Florida, and four TCA funds in the Cayman Islands.

Donna Silverman: $50K Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $50,000 on Donna M. Silverman to settle allegations of fraud involving TCA Fund Management Group Corp., of Florida, and TCA Global Credit Fund GP Ltd., of the Cayman Islands.

WPP Plc: $22M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $22.5 million on WPP Plc, described as "the world's largest advertising group" that is domiciled in Jersey, in the Channel Islands; headquartered in London and New York City, and whose shares are listed on the New York Stock Exchange for alleged violations of "the anti-bribery, books and records, and international accounting controls provisions of the Foreign Corrupt Practices Act" involving its subsidiaries in Brazil, China, India, and Peru.

Helikon Investments Ltd.: $778K Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $778,244 on Helikon Investments Ltd., described as a United Kingdom company that is registered with the U.K. Financial Conduct Authority, to settle allegations that it "sold short American depositary shares and then, within the rule's five-day restricted period, purchased ADSs of the same issuer in an offering, thereby violating Rule 105", profiting "by $669,002 from the transaction".

Ronald Haller: Industry Ban

Administrative Order by the U. S. Securities and Exchange Commission imposing an industry ban on Ronald P. Haller, 67, of Ontario, Canada, after. he pleaded guilty to fraud in Canada.

Murchinson Ltd. et al: $9M Settlement

Administrative Order by the U. S. Securities and Exchange Commission stating that Murchinson Ltd., of Toronto, Canada; Marc Bistricer, and Paul Zogala, described as citizens and residents of Canada, have agreed to pay penalties totaling $9 million to settle a regulatory investigation that, inter alia, involved an unidentified Bermuda "hedge fund".

Pearson Plc: $1M Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $1 million on Pearson Plc, described as a British publicly-listed "multinational educational publishing and services company", for "material misstatements and omissions regarding a 2018 cyber intrusion that affected several million rows of student data across 13,000 school, district, and university AIMSweb 1.0 customer accounts in the United States".

Poloniex LLC: $10.3M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $10.3 million on Poloniex, LLC, of Delaware, for operating "a digital asset trading platform" without registering "as a national securities exchange".

DeFi Money Market et al: $13M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties on Blockchain Credit Partners, d.b.a. DeFi Money Market, of the Cayman Islands; Gregory Keough, and Derek Acree, both of Florida, for an alleged fraud that involved selling "more than $30 million of securities in unregistered offerings by using smart contracts and "decentralized finance" technology to sell digital tokens".

Coinschedule Ltd.: $201K Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $201,688 on Blotics Ltd., formerly doing business as Coinschedule Ltd., described as a United Kingdom-domiciled company that "owned and operated a once-popular website platform, www.coinschedule.com, that publicized current and upcoming offerings for different digital tokens and was accessible in the United States from 2016 to August 2019", for promoting a security without disclosing that it received compensation for doing so.

Momentus Inc. et al: $8M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties of $8 million on Momentus Inc., Stable Road Acquisition Corp., SRC-NI Holdings LLC, and Brian Kabot for alleged securities fraud involving, inter alia, Mikhail Kokorich, described as "a Russian citizen residing in Switzerland".

PLS, CPA et al: Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties on PLS, CPA, Chang G. Park, Joseph Yongyun Lee, and Juchi Lee, all accountants, for "improper professional conduct" involving, inter alia, Interactive Multi-Media Auction Corporation, described as "a British Virgin Islands corporation with its principal place of business in the United Kingdom" and "formerly headquartered in Hong Kong".

Amec Foster Wheeler Ltd.: $22.7M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $22.7 million on Amec Foster Wheeler Limited, described as a Switzerland-domiciled parent of a group "with a significant presence in the United Kingdom", regarding "a bribery scheme to obtain an oil and gas engineering and design contract in Brazil" involving Petróleo Brasileiro S.A. - Petrobras.

Gil Beserglik et al: Industry Bans

Administrative Order by the U. S. Securities and Exchange Commission imposing industry bans on Gil Beserglik, 64, a citizen of Israel; Raz Beserglik, 35, a citizen of Israel, and Kai Christian Petersen, 53, a citizen of Germany, regarding their involvement in binary options brokers.

S&P Dow Jones Indices LLC: $9M Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $9 million on S&P Dow Jones Indices LLC for regulatory breaches involving Credit Suisse AG, of Switzerland.

Peter DeCaprio: $75K Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing sanctions, including a fine of $75,000, on Peter J. Decaprio, of Boston, Massachusetts, for regulatory breaches involving, inter alia, an "unregistered fund" in the British Virgin Islands.

David Hu: Industry Ban

Administrative Order by the U. S. Securities and Exchange Commission imposing an industry ban on David Hu for securities fraud involving International Investment Group LLC and funds in the Cayman Islands and Curaçao.

Wireline, Inc.: $650K Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $650,000 on Wireline, Inc., described as a Delaware-domiciled "early-stage project focused on the development of a decentralized, blockchain based platform", for an unregistered securities offering and alleged fraud involving, inter alia, Wireline Developer Fund Ltd., a.k.a. Wireline Development Fund, of the Cayman Islands. Editor's Note: Research by OffshoreAlert showed that, in the Cayman Islands General Registry, the directors of Wireline Developer Fund Ltd. are identified as Lucas Geiger and Rich Burdon.

Deutsche Bank AG: $43M Penalty

Administrative Order by the U. S. Securities and Exchange Commission imposing a penalty of $43.3 million on Deutsche Bank AG for regulatory breaches involving, inter alia, entities in Abu Dhabi, British Virgin Islands, China, Italy, and Saudi Arabia.

Tierion, Inc.: $250K Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $250,000 on Tierion, Inc. for regulatory breaches involving the sale of digital tokens by its "Cayman Islands-subsidiary, Tierion International Ltd.". Editor's Note: Research by OffshoreAlert in the Cayman Islands General Registry showed that the directors of Tierion International Ltd. are Casey McDonald and Wayne Vaughan.

Mustafa Abdel-Wadood: Industry Ban

Administrative Order by the U. S. Securities and Exchange Commission imposing an industry ban on Mustafa Abdel Wadood, described as a citizen of Egypt, for "the misappropriation of fund assets from one private equity fund client of the Abraaj Group and an offering fraud against investors in another Abraaj fund".

Robinhood Financial, LLC: $65M Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $65 million on Robinhood Financial, LLC, described as a Delaware-domiciled "self-directed securities brokerage" based in Menlo Park, California, for "material misrepresentations and omissions by Robinhood relating to its revenue sources".

Mancera SC, et al: $1.6M Penalty & Bans

Administrative Order by the U. S. Securities and Exchange Commission imposing a financial penalty of $1,589,926 on Mancera SC, described as "the Mexican member firm of Ernst & Young Global", and bans on accountants Alejandro Valdez Mendoza, CP and Angel Radames Corral Nieblas, CP, both citizens of Mexico, for regulatory breaches regarding Desarrolladora Homex, SAB de CV, which was described as a construction firm that "engaged in a massive fraudulent accounting scheme over at least a three-year period" and whose shares were listed on the Mexican Stock Exchange and New York Stock Exchange.