Legal Eagle Review
SEC Charges Northern California Fund Manager in $60 Million Scheme
- Details
- Written by LER
The Securities and Exchange Commission charged an investment adviser in Scotts Valley, California, with running a $60 million investment fund like a Ponzi scheme and defrauding investors by touting imaginary trading profits instead of reporting the actual trading losses he incurred.
SEC Charges Two Feeders for One of South Florida's Largest-Ever Ponzi Schemes
- Details
- Written by LER
The Securities and Exchange Commission charged two individuals who provided the biggest influx of investor funds into one of the largest-ever Ponzi schemes in South Florida.
SEC Charges Former Yahoo Executive and Former Ameriprise Manager with Insider Trading
- Details
- Written by SEC
The Securities and Exchange Commission charged a former executive at Yahoo! Inc. and a former mutual fund manager at a subsidiary of Ameriprise Financial Inc. with insider trading on confidential information about a search engine partnership between Yahoo and Microsoft Corporation.
Administrative Law Judge Upholds FTC's Complaint that POM Deceptively Advertised Its Products
- Details
- Written by LER
In an Initial Decision announced, Chief Administrative Law Judge D. Michael Chappell upheld a Federal Trade Commission complaint, and ruled that POM Wonderful LLC, its sister corporation Roll Global LLC, and principals Stewart Resnick, Lynda Resnick, and Matthew Tupper violated federal law by making deceptive claims in some advertisements that their POM Wonderful 100% Pomegranate Juice and POMx supplements (POM products) would treat, prevent, or reduce the risk of heart disease, prostate cancer, and erectile dysfunction.
Consumers Who Bought Two Oreck Products Will Receive FTC Refunds
- Details
- Written by FTC
Thousands of consumers who purchased two home cleaning products from Oreck Corporation will receive refunds from the Federal Trade Commission because company advertisements allegedly made false and unproven claims that the products could reduce the risk of flu and other illnesses, and eliminate virtually all common germs and allergens.
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