$38 Million Defrauded by Single-Advisor LLC

Andrew T. Franzone was indicted Friday in a $38 million fraud scheme after allegedly misappropriating funds from approximately 90 investors, including pledging investor funds for personal loans, investing in unauthorized assets, and for personal enrichment. He is also charged with failing to disclose or eliminate conflicts of interest over the course of the five-year scheme.…

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Finra Bars Goldman Sachs Analyst From Industry

Finra banned Brian Maguire, a research analyst for Goldman Sachs who used insider information to purchase two stocks, from the securities industry. Bloomberg Law’s Matt Robinson writes: “Goldman has had a string of insider trading cases against its employees in recent years. In January 2020, an investment banker plead guilty in New York for sharing…

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Michael Giles of CashApp Launches New Clearing Firm

Michael Giles, CEO of the Harland Group and founder of Third Party Technologies—acquired and rebranded as Cash App by Square—has raised $20 million in capital to launch Embedded Financial Technologies Inc., an equities and options clearing house designed to handle modern issues facing investors. If you are interested in leveraging public markets for the next…

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SEC’s Interest in SPACs Changes Market

“The Securities and Exchange Commission’s increasing scrutiny of special purpose acquisition companies and guidance on how to account for warrants are slowing deal activity for firms,” writes Michael Cohen of Accounting Today. If you are interested in leveraging public markets to raise capital for acquisitions, contact the attorneys at the Warren Law Group at (866)…

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SEC Brings Charges in Binary Options Scheme

The Securities Exchange Commission filed suit against Spot Tech House Ltd., and two of its top executives, for allegedly operating a binary options scheme defrauding investors worldwide. Writes the SEC: “To ensure sufficient investor losses and make the scheme profitable, Spot Option allegedly, among other tactics, instructed its partners to permit investors to withdraw only…

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Gary Gensler Confirmed as SEC Chief

Gary Gensler, President Biden’s nominee for Chief of the SEC, has been approved by the Senate for the position. Mr. Gensler, formerly of the CFTC, is expected to introduce modernization to the agency, including regulations surrounding cryptocurrency and retail trading. If you have been affected by financial fraud, fiduciary malfeasance, or are under investigation by…

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Toshiba CEO Steps Down

Toshiba CEO, Nobuaki Kurumatanileav, has left his role as pressure mounts to accept an acquisition offer from CVC Capital. The deal is expected to be worth over $20 billion. If you are interested in leveraging public markets to raise capital for acquisitions, contact the attorneys at the Warren Law Group at (866) WLGROUP or email info@warren.law.

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Superintendent of Oregon School Sues School District

Oscar Moreno Gilson, The Superintendent of the Woodburn School District in Oregon, was placed on administrative leave In January — he “intends to sue the district for claims including breach of contract, retaliation, and intentional infliction of emotional distress,” claiming he was “targeted and retaliated against for attempting to institute a culture of accountability.” Moreno…

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Toshiba Receives Buyout Offer from Private Equity Firm

Toshiba received an offer for acquisition by CVC Capital Partners likely valued at over $20 billion. The deal would be one of the largest leveraged buyouts in history, according to Dealogic, and possibly the largest in Asia,” writes the Wall Street Journal. If you are interested in leveraging public markets to raise capital for acquisitions,…

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