Regulatory

SEC v. Matthew Nicosia et al: Complaint (‘Penny Stock Fraud’)

Complaint alleging "fraudulent schemes to sell publicly traded stock to retail investors" involving "penny stocks" issued by Odyssey Group International, Inc., Scepter Holdings, Inc., and CannaPharmaRx, Inc. in U.S. Securities and Exchange Commission v. Matthew Nicosia, William 'Rocky' Reininger, Fabrizio Di Carlo, described as a citizen and resident of Canada, and Ronald Touchard at the U.S. District Court for the Eastern District of New York.

Nexo Inc. et al: Cease and Desist Order (Oklahoma)

Cease and Desist Order by the Oklahoma Department of Securities against Nexo Financial LLC, of Delaware; Nexo Inc., of the Cayman Islands, and Nexo Capital Inc., of the Cayman Islands, which collectively operate a crypto lending platform.

Nexo Inc. et al: Cease and Refrain Oder (California)

Cease and Refrain Order by the California Department of Financial Protection and Innovation against Nexo Group, which "comprises business entities organized primarily in European countries and territories"; Nexo Inc., of the Cayman Islands, and Nexo Capital Inc., of the Cayman Islands, which collectively "a crypto platform that offers crypto interest accounts, self-directed and over-the-counter trade execution, and lending, borrowing, and exchange services".

SEC v. James Patten et al: Complaint

Complaint alleging securities fraud involving Makamer Holdings, Inc., formerly Hometown International, Inc., and EZRaider Co., formerly E-Waste Corporation, in U.S. Securities and Exchange Commission v. James T. Patten, Peter L. Coker, Sr., and Peter L. Coker, Jr., described as a resident of Hong Kong, at the U.S. District Court for the District of New Jersey.

SEC v. Jason Sugarman: Judicial Assistance (David Ezekiel, Mark Waddington & Valor Group Ltd.)

Order "issuing letters rogatory for International Judicial Assistance to the Supreme Court of Bermuda, requesting assistance to compel the production of documents and oral examinations for use at trial of David Ezekiel and Mark Waddington, and the production of documents from Valor Group, Ltd." for an enforcement action regarding Jason Sugarman's "fraudulent scheme to steal $43 million from unwitting pension funds to finance the acquisition of a global financial conglomerate of European and Bermuda insurers, and investment advisers based in Virginia and Connecticut" in U.S. Securities and Exchange Commission v. Jason Sugarman at the U.S. District Court for the Southern District of New York.

Nexo Inc. et al: Cease and Desist Order (Vermont)

Ex Parte Order to Cease and Desist by the State of Vermont Department of Financial Regulation in re. Nexo Inc., of the Cayman Islands; Nexo Capital Inc., of the Cayman Islands, and Nexo Financial LLC, a Delaware entity based in London, England, collectively described as "a financial services company that generates revenue by providing, deploying, and investing digital assets and virtual currencies".

MGI Capital (Suisse) AG: Public Warning

Public Warning by the Swiss Financial Market Supervisory Authority that MGI Capital (Suisse) AG is "suspected of conducting unauthorised activities in the financial market".

Aspen Asset Management AG: Public Warning

Public Warning by the Swiss Financial Market Supervisory Authority that Aspen Asset Management AG is "suspected of conducting unauthorised activities in the financial market".

SEC v. Michael Weiss: Complaint (Insider Trading-Ernst & Young Clients)

Complaint alleging "insider trading by Defendant in the stock of four Ernst & Young LLP clients or prospective clients made while he was employed as an EY Business Development Director" in U.S. Securities and Exchange Commission v. Michael Weiss at the U.S. District Court for the Southern District of New York.

SB Global Ltd.: License Suspension

Public Notice by the Mauritius Financial Services Commission that it has suspended the Global Business License and Collective Investment Scheme License of fund manager SB Global Ltd.

Asset Capital Growth Fund Ltd.: License Suspension

Public Notice by the Mauritius Financial Services Commission that it has suspended the Global Business License of Asset Capital Growth Fund Ltd. and its Authorization to operate as a Collective Investment Fund and CIS Expert Fund.

John Kelmanson: £6.5K Fine

Disciplinary Consent Order from the United Kingdom's Insolvency Service that insolvency practitioner John Kelmanson "be Severely Reprimanded and fine £6,500" following "a Complaint that in his role as a potential liquidator/liquidator of a Company, Mr Kelmanson breached the fundamental principle of Professional Competence and Due Care of the Insolvency Code of Ethics".

Geoffrey Trebert: £87.5K Fine & Ban

News Release by the Guernsey Financial Services Commission that it has imposed a fine of £87,500 and disqualification on Geoffrey John Trebert for "his failure to meet the Minimum Criteria for Licensing".

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.

SEC v. Ian Balina: Complaint (‘$30M Unregistered Crypto Offering’)

Complaint alleging an "unregistered offering and promotion" of crypto involving "Sparkster, Ltd., a software development company incorporated in the Cayman Islands" that raised "approximately $30 million from nearly 4,000 investors" in U.S. Securities and Exchange Commission v. Ian Balina, a resident of Austin, Texas and "a self-described crypto asset investor, promoter, and influencer", at the U.S. District Court for the Western District of Texas.

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".

SEC v. Gabriel Edelman et al: Complaint (‘$4.39M Crypto Investment Fraud’)

Complaint alleging a $4.39 million crypto-related investment fraud in the U.S. Securities and Exchange Commission v. Gabriel Edelman, who is "presently a resident of Spain"; Creative Advancement LLC, and Edelman Blockchain Advisors LLC at the U.S. District Court for the Southern District of New York.

Maitland Luxembourg SA: €266K Fine

Public Notice by the Luxembourg CSSF that it has imposed a fine of €266,000 on Maitland Luxembourg SA for regulatory breaches.

SEC v. Chicago Crypto Capital LLC et al: Complaint (‘$1.5M Crypto Fraud’)

Complaint alleging a $1.5 million investment fraud regarding crypto tokens issued by Saint Kitts and Nevis-domiciled Beaxy Digital Ltd. in the U.S. Securities and Exchange Commission v. Chicago Crypto Capital LLC, Brian B. Amoah, Darcas Oliver Young, and Elbert G. Elliott at the U.S. District Court for the Northern District of Illinois.

Voyager Digital Ltd. et al: Cease and Desist Order

Ex Parte Order to Cease and Desist regarding a cryptocurrency group in Vermont Department of Financial Regulation v. Voyager Digital Ltd., of British Columbia, Canada; Voyager Digital Holdings Inc., of Delaware, and Voyager Digital LLC, of Delaware.

Gary Durkin: £35K Fine

News Release by the Guernsey Financial Services Commission that it has imposed a fine of £35,000 on corporate service provider Gary William Jason Durkin "following his failure to meet the Minimum Criteria for Licensing".

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.

Fuchs & Associés Finance SA: €1M Fine

Public Notice by the Luxembourg CSSF that it has imposed two fines totaling €1,015,000 on investment firm Fuchs & Associés Finance S.A. for regulatory breaches.

SEC v. Empirex Capital LLC et al: ‘Subpoena Compliance’ Application (‘Crypto-Based Investment Fraud’)

Application for an order compelling compliance with administrative subpoenas for an investigation into "a potential fraudulent offering scheme by Empirex" that "may have raised as much as $55 million from investors" and, inter alia, involved cryptocurrency in U.S. Securities and Exchange Commission v. Empirex Capital LLC, AKC Management LLC, Rafael Alberto Vargas Gonzalez, a.k.a. Rafael Vargas, and Paola A. Vargas at the U.S. District Court for the Southern District of Florida.

SEC v. Greg Lindberg et al: Complaint (‘$75M Fraud’)

Complaint alleging fraud involving entities in Bermuda, Malta, and the USA in U.S. Securities and Exchange Commission v. Gregory E. Lindberg, Christopher Herwig, and Standard Advisory Services Limited, of Malta, at the U.S. District Court for the Middle District of North Carolina.

SEC v. Harmel Rayat et al: Amended Complaint

Amended Complaint alleging "a longstanding and wide-reaching fraudulent scheme to increase the share price and trading volume of the common stock of RenovaCare, a purported medical device company with no commercially available product and no revenue" in U.S. Securities and Exchange Commission v. Harmel S. Rayat, a citizen and resident of Canada; RenovaCare Inc., Jatinder Bhogal, a citizen and resident of Canada; Jeetenderjit Singh Sidhu, a citizen and resident of Canada, and Sharon Fleming, of California, as Defendants, and Treadstone Financial Group Ltd., of Canada; Treadstone Financial Group LLC, of Delaware; Blackbriar Asset Management Ltd., of Canada, and 1420527 Alberta Ltd. of Canada,, as Relief Defendants, at the U.S. District Court for the Southern District of New York.

SEC v. Rahim Mohamed et al: Complaint (‘Hacking & Securities Fraud’)

Complaint alleging hacking and securities fraud in the U.S. Securities and Exchange Commission v. Rahim Mohamed, described as a citizen of Canada residing in Canada and the Cayman Islands; Davies Wong, described as a citizen and resident of Canada; Glenn B. Laken, described as a resident of Chicago, Illinois; Richard C. S. Tang, described as a citizen and resident of Canada; Zoltan Nagy, described as a citizen and resident of Canada; Jeffrey D. Cox, a citizen and resident of Canada; Phillip G. Sewell, described as a citizen of the United Kingdom residing in Canada; Breanne M. Wong, described as a citizen and resident of Canada; Christophe Merani, described as a resident of Illinois, USA; Anna Tang, described as a citizen and resident of Canada; Robert W. Seeley, described as a citizen of the United Kingdom residing in the Dominican Republic; Richard B. Smith, described as a citizen of the United Kingdom residing in the Dominican Republic; Christopher R. Smith, described as a citizen of the United Kingdom residing in the Dominican Republic; H.E. Capital SA, described as a Nevis-domiciled company based in the Dominican Republic; Pop Holdings Ltd., described as a Nevis-domiciled company based in the Dominican Republic; Maximum Ventures Holdings LLC, Harmony Ridge Corp., and Avatele Group LLC, as Defendants, and 9224-3708 Quebec Inc., a.k.a. Distributions Bano, and Jason Black, as Relief Defendants, at the U.S. District Court for the Northern District of Georgia.

Lloyds Bank Corporate Markets Plc: £498K Fine

Public Statement by the Jersey Financial Services Commission that it has imposed a fine of £498,000 on Lloyds Bank Corporate Markets Plc (Jersey Branch) for regulatory breaches.

Ferratum Bank Plc: €653K Fine

Public Notice by Malta's Financial Intelligence Analysis Unit that it has imposed a fine of €653,637 on Ferratum Bank Plc for regulatory breaches.

Trident Trust Company (I.O.M.) Ltd.: Public Statement

Public Statement by the Isle of Man Financial Services Authority "concerning the regulatory investigation of The Isle of Man Financial Services Authority in respect of Trident Trust Company (I.O.M.) Limited and the associated outcomes".

R & M Management (I.O.M.) Ltd.: Public Statement

Public Statement by the Isle of Man Financial Services Authority "concerning the regulatory investigation of The Isle of Man Financial Services Authority in respect of R & M Management (I.O.M.) Limited and the associated outcomes".

KDM Shipping Public Ltd.: €19K Fine

Public Notice by the Cyprus Securities and Exchange Commission that it has imposed a fine of €19,250 on KDM Shipping Public Limited for regulatory breaches.

Exelcius Prime Ltd.: License Suspension

Public Notice by the Cyprus Securities and Exchange Commission that it has suspended the license of investment firm Exelcius Prime Ltd. for regulatory breaches.

FAB CBO 2003-I BV: €15K Fine

Public Notice by the Luxembourg CSSF that it has imposed a fine of €15,000 on FAB CBO 2003-I B.V., of the Netherlands, for failure to file its 2021 annual report "within the required time limit".