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DAILY BLAWGGER

because everyone should know the law

Posts by Lahdan

Three Men Arrested in $722 Million Cryptocurrency Fraud Scheme Targeting “Dumb” Investors

According to a Release from the Department of Justice (DOJ), three men were arrested today in connection with a cryptocurrency mining scheme that defrauded investors of $722 million, U.S. Attorney Craig Carpenito announced. The following information is quoted from the Release. Matthew Brent Goettsche, 37, of Lafayette, Colorado, and Jobadiah Sinclair Weeks, 38, of Arvada, Colorado,…

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Should Court Transcripts be Provided to Parties Free of Charge?

I learned during my first semester at University of San Francisco School of Law during Dean Brand’s welcome reception that in the United States, one only gets as much justice as one can afford.  In other words, there is no such thing as equal access to justice. I didn’t fully understand the weight of those words until recently.  During trial, I realized that…

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SEC may Reward Issuers and Auditors for Self-Policing, Self-Reporting, Remediation and Cooperation with Law Enforcement Authorities

In Release No. 44969 (Release) published on October 23, 2001, the United States Securities and Exchange Commission (SEC) announces its decision to commence and settle a cease-and-desist proceeding against Gisela de Leon-Meredith, former controller of a subsidiary of a public company, Chestnut Hill Farms, a Miami-based division of Seaboard Corporation.  The SEC’s order found that…

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I attended the CAI-GLAC’s Legal Update 2019 and Learned a Lot about the Impact of New Legislation

I serve as Treasurer of the Marina City Club Condominium Owners Association and requested our Management Company, Seabreeze Management, to sign me up for the CAI-GLAC’s Legal Update 2019. The speakers were awesome, lunch was delicious and people were friendly. According to the Community Associations Institute (CAI), about six out of 10 new homes are…

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Telegram Accuses The SEC Of Failing To Provide Clear Guidance And Engaging In Improper Regulation By Enforcement

On November 12, 2019, Telegram Group Inc. and TON Issuer (Defendants) filed a response to the U.S. Securities and Exchange Commission (SEC) complaint originally filed on October 11, 2019.  Not surprisingly, Defendants deny all allegations in the SEC complaint.  According to the response, Defendants mainly rely on the following three arguments:   Defendants conducted a…

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Broken Windows: SEC Commissioner Hester M. Peirce’s Remarks before the 51st Annual Institute on Securities Regulation

Last week, U.S. Securities and Exchange Commission (SEC) Commissioner Hester M. Peirce, delivered a speech providing recommendations on how to make the SEC’s enforcement program even better than it is. First, the SEC should be on the lookout for rules that need to be written, eliminated or rewritten. By modernizing its rules, the SEC can…

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SEC Charges Adviser for Running Ponzi Scheme Targeting Haitian Community Including his Family and Friends

Last week, the U.S. Securities and Exchange Commission’s (SEC) issued a press release to announce that it filed a complaint against Ruless Pierre a/k/a Rules Pierre (Defendant), alleging that he operated a multimillion-dollar investment club that was actually a fraudulent Ponzi scheme targeting members of the local Haitian community as well as his family and…

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SEC Charges Issuer and CEO with Violating Whistleblower Protection Laws to Silence Investor Complaints

Last week, the U.S. Securities and Exchange Commission’s (SEC) issued a press release to announce that it filed an amended complaint against Collector’s Coffee, Inc. (d/b/a Collectors Café) and its CEO, Mykalai Kontilai (Defendants), alleging that they unlawfully sought to prohibit their investors from reporting misconduct to the SEC and other governmental agencies.  What are…

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SEC Division of Enforcement Publishes Annual Report for Fiscal Year 2019

Earlier this week, the U.S. Securities and Exchange Commission (SEC) Division of Enforcement published its Annual Report for First Year 2019.  The Annual Report details the Division of Enforcement’s efforts and initiatives on behalf of investors, highlights several significant actions, and presents the activities of the Division of Enforcement from both a qualitative and quantitative…

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