Article: Five Charged in Offering Fraud, Stock Manipulation, Ranging from Oil to Pot

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Five Charged in Offering Fraud, Stock Manipulation, Ranging from Oil to Pot

Michael Katz, 30 April 2021

Five people have been charged in federal court for their involvement in two securities fraud schemes. According to prosecutors, the schemes involved an offering fraud of a Texas-based oil and gas company and the attempted manipulation of a cannabis company’s publicly traded stock.

An indictment was filed in the Eastern District of New York against Richard Dale Sterritt Jr., Michael Greer, Robert Magness, Mark Ross, and Robyn Straza charging them with conspiracy to commit securities fraud, wire fraud, and money laundering, among other offenses.

“Through a web of related schemes, Sterritt and his co-defendants allegedly stole millions of dollars from investors, attempted to manipulate a publicly traded stock and laundered the proceeds of their crimes through the purchase of luxury items like a Bentley,” Mark Lesko, acting US attorney for the Eastern District of New York, said in a statement. Continue reading “Article: Five Charged in Offering Fraud, Stock Manipulation, Ranging from Oil to Pot”

Article: Five Charged in Offering Fraud, Stock Manipulation, Money Laundering

Article - Media, Publications

Five Charged in Offering Fraud, Stock Manipulation, Money Laundering

Michael Katz, 23 April 2021

Five people have been charged in federal court for their alleged involvement in two securities fraud schemes. According to prosecutors, the schemes involved an offering fraud of a Texas-based oil and gas company and the attempted manipulation of a cannabis company’s publicly traded stock.

An indictment was filed in the Eastern District of New York against Richard Dale Sterritt Jr., Michael Greer, Robert Magness, Mark Ross, and Robyn Straza, charging them with conspiracy to commit securities fraud, wire fraud, and money laundering, among other offenses. Continue reading “Article: Five Charged in Offering Fraud, Stock Manipulation, Money Laundering”

Article: Bursor & Fisher Makes Play To Lead Robinhood MDL

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Bursor & Fisher Makes Play To Lead Robinhood MDL

Nathan Hale, 15 April 2021

Bursor & Fisher PA touted its experience in class actions and multidistrict litigation as well as multiple clients with significant financial interest as it made a bid Wednesday to lead multidistrict litigation over stock-trading app Robinhood’s decision to block users from buying certain volatile stocks including GameStop.

The boutique firm, which has offices in California, Miami and New York, filed its motion to serve as lead counsel alongside a request from six clients — Eric Quat, Aaron Fassinger, Mike Ross, Igor Kravchenko, Michael McFadden and Tenzin Woiser — to serve together as lead plaintiffs for the dozens of cases against Robinhood Financial LLC and other entities that were centralized earlier this month in the Southern District of Florida. Continue reading “Article: Bursor & Fisher Makes Play To Lead Robinhood MDL”

Article: Five Individuals Charged in Offering Fraud, Stock Manipulation and Money Laundering Schemes

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Five Individuals Charged in Offering Fraud, Stock Manipulation and Money Laundering Schemes

Department of Justice, 14 April 2021

A five-count indictment was filed today in federal court in Brooklyn charging Richard Dale Sterritt, Jr., Michael Greer, Robert Magness, Mark Ross and Robyn Straza with conspiracy to commit securities fraud, wire fraud and money laundering, among other offenses. The charged crimes arise out of a series of securities fraud schemes, including an offering fraud targeted at investors and potential investors in an oil and gas company in Texas and the attempted manipulation of the publicly traded stock of a cannabis company. The defendants were arrested today. Sterritt, Greer and Straza will make their initial appearance in federal court in Dallas, Texas; Magness and Ross will make their initial appearance in Brooklyn. Continue reading “Article: Five Individuals Charged in Offering Fraud, Stock Manipulation and Money Laundering Schemes”

Article: How Jim Cramer Is Approaching Bank Stocks

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How Jim Cramer Is Approaching Bank Stocks

Katherine Ross, 21 June 2020

A report by the International Consortium of Investigative Journalists found five global banks moved “staggering sums of illicit cash for shadowy characters and criminal networks that have spread chaos and undermined democracy around the world.”

The report said that JPMorgan Chase and Deutsche Bank and other financial services companies had defied money laundering crackdowns even after being fined by U.S. authorities.

Continue reading “Article: How Jim Cramer Is Approaching Bank Stocks”

Fined: Ross, Sinclaire & Associates, LLC Fined by FINRA

Fined

Ross, Sinclaire & Associates, LLC Fined by FINRA

10 June 2019

An AWC was issued in which the firm was censured and fined $200,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to disclose material facts while assisting with the preparation and circulation of a confidential information memorandum (CIM) to accredited investors for a private placement of notes.

Read full report.

Article: BlackRock CEO Larry Fink earns recognition as a climate fraud

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BlackRock CEO Larry Fink earns recognition as a climate fraud

Friends of the Earth International, 31 October 2018

NEW YORK– In recognition for his outstanding contribution to climate change, the activist group Friends of the Earth U.S. today presented BlackRock CEO Larry Fink with a “climate fraud” award. BlackRock holds more stock in companies contributing to climate change than any other company in the world. Continue reading “Article: BlackRock CEO Larry Fink earns recognition as a climate fraud”

Article: Feds charge billionaire Steven A. Cohen’s hedge fund SAC Capital with insider trading

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Feds charge billionaire Steven A. Cohen’s hedge fund SAC Capital with insider trading

BARBARA ROSS and BILL HUTCHINSON, 26 July 2013

Wall Street’s richest hedge fund, SAC Capital Advisors, owned by billionaire Steven Cohen, was indicted Thursday by a federal grand jury on charges of being an insider-trading machine. Prosecutors charge that SAC made “hundreds of millions of dollars of illegal profits” from 1999 to 2010 by recruiting employees based on trade secrets they brought to the firm, or if they had the know-how to get them.

The scheme “was substantial, pervasive and on a scale without known precedent in the hedge-fund industry,” the indictment charges. Continue reading “Article: Feds charge billionaire Steven A. Cohen’s hedge fund SAC Capital with insider trading”

Article: SEC Gave “Preferential Treatment” to Wall Street CEO

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SEC Gave “Preferential Treatment” to Wall Street CEO

Brian Ross, Rhonda Schwartz

abc News, 6 October 2008

The SEC gave “preferential treatment” to Wall Street executive John Mack during an insider trading investigation three years ago because Mack was about to become CEO of the Morgan Stanley investment banking firm, the SEC’s inspector general concluded in a report obtained by ABC News.

The report recommended disciplinary action against the SEC’s chief of enforcement, Linda Thomson, and said the firing of an SEC lawyer was “connected” to his persistent attempts to take Mack’s testimony. Read the report’s conclusion and recommendations here.

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