December 2016

Advisor Fined $8.9 Million For Penny Stock Fraud
A Canadian citizen and his Boston-based advisory practice have been ordered to pay $8.9 million for penny stock fraud.

SEC Alleges Suspended Broker Continued To Scam Retirees
A broker was hit with a temporary court bar and asset freeze after the SEC alleged he drained clients' retirement savings.

Texas Investment Advisor Operated $6 Million Ponzi Scheme
Bobby Eugene Guess bragged about his expertise in radio ads and seminars, Texas regulators say.

Advisor Who Allegedly Cheated Pro Athletes Barred From Industry
Ash Narayan is accused of defrauding former Jets quarterback Mark Sanchez and others out of $33 million.

Advisor Made $1 Million Through Fraud, Indictment Says
An Illinois advisor assigned profitable securities to himself and gave losers to clients, says the SEC.

Goldman Sachs Ordered To Pay $120M Penalty For Rate Manipulation
The Commodity Futures Trading Commission said Goldman tried to manipulate a dollar benchmark for interest rate products.'Big Short' Advisor Loses Appeal In SEC CaseWing Chau is at the center of a fraud case that alleges he defrauded investors out of $1.1 billion.