A California firm is being pursued by the Securities and Exchange Commission for allegedly engaging in fraud. The SEC's complaint accuses the management of Hoplon Financial Group, a hybrid advisory firm, of lying to investors and committing fraud in matters connected to real estate and the sale of securities.
Attorney John Patrick Ryan mentioned in the news on "Drunken driver sentenced to 16 years for crash that killed brother-in-law" [Read more at Bakersfield.com]
The U.S. Securities and Exchange Commission filed white collar crime charges in March 2017 against two men who were allegedly involved in an elaborate money laundering scheme involving tickets for Broadway shows and musical performances. The fraud allegations could have far-reaching effects and consequences on corporate crime charges in California and elsewhere around the country.
California residents who are looking for ways to invest their money should always be wary of scams such as Ponzi schemes. According to the Securities and Exchange Commission, or SEC, there are many indications that an investment arrangement may be part of a Ponzi scheme.
A former partner at a leading California financial management company has admitted to embezzling more than $6.5 million from a number of clients including the Grammy Award-winning singer and songwriter Alanis Morissette. The admission was made in papers filed as part of the man's plea arrangement on Jan. 18. The man is facing a raft of white-collar crime charges including wire fraud and filing a falsified personal tax return.
While it may be possible to prove that corporations and those who run them engage in criminal activity, it may be hard to win a conviction. This is partially because a corporation is a separate entity from its owners and operators. It presents a structural challenge that makes it difficult to show that individuals were actually aware that they were committing a crime or should have known about any wrongdoing.
The CEO of Altai, a company producing gourmet marijuana candies distributed to over 100 dispensaries in California, faces a lawsuit from an investor. The investor maintained anonymity by having Hannaford Enterprises, LLC, bring the suit against Indus, the holding company of Altai. According to court filings, the investor claims that the CEO squandered the $750,000 that was entrusted to Altai.
A Florida congresswoman was indicted for fraud in early July 2016. According to allegations, Rep. Corrine Brown and her chief of staff used the $800,000 they collected in donations for an educational charity known as One Door for Education Foundation Inc. as a slush fund. The money was supposed to go toward school computer drives, scholarships and other education initiatives.
California residents may know who Abby Lee Miller is thanks to her role on the Lifetime network reality series 'Dance Moms" and other spinoff shows. On June 27, Miller pleaded guilty to two fraud charges related to her Chapter 11 bankruptcy filing. Miller was charged with structuring an international monetary transaction and concealing bankruptcy assets.
On May 31, a federal judge sentenced the ex-head of the California Public Employees' Retirement System to four and a half years in prison for fraud and bribery. The judge called the defendant's crimes a "spectacular breach of trust" for the purpose of "self-enrichment."