Author Archive: Jon-Jorge Aras

Jon-Jorge Aras Gives Insight on SEC’s Meme Stock Warning Video

By Jon-Jorge Aras / June 6, 2022
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The SEC’s attack on meme stocks is far from over — the agency has released a video warning investors of meme stocks, with a message intended to educate investors on responsible trading. The YouTube video has left many investors feeling that the SEC does not have their best interest in mind. Many profited off of…

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SEC Charges Company and its Founders for Cryptomining and Trading Scheme

By Jon-Jorge Aras / May 13, 2022
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The Securities and Exchange Commission (SEC) has recently announced fraud charges against MCC International Corp. and its founders in connection with the unregistered offerings and fraudulent sales of investment plans to thousands of investors.  The defendants allegedly generated $8.1 million from the sale of these investment plans and $3.2 million in initiation fees. The SEC…

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FINRA Fines Companies for Crowdfunding Violations

By Jon-Jorge Aras / May 10, 2022
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FINRA has recently fined two registered funding portals, Wefunder and StartEngine, a combined $1.75 million for failing to comply with securities laws and regulations designed to protect crowdfunding investors.  Wefunder raised approximately $20 million more than they were permitted under FINRA’s current crowdfunding regulations. They also failed to promptly direct the transmission of funds to…

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Jon-Jorge Aras Secures $175K For U5 Defamation in FINRA Arbitration

By Jon-Jorge Aras / March 30, 2022
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Jon-Jorge Aras, Partner and Chair of Securities Litigation at Warren Law Group, secured an award and expungement for our client, a broker, who was wrongfully terminated and defamed in a malicious U5 statement. The arbitrators found that punitive and compensatory damages were appropriate given the willful misconduct of the Respondents. If you are a broker…

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President Biden Signs Order on Digital Assets

By Jon-Jorge Aras / March 10, 2022
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Yesterday, March 9th, 2022, President Biden signed an executive order regarding the protection of digital assets. The main objectives of the order include:  Protect U.S. consumers, investors, and businesses  Protect U.S. and global financial stability and mitigate systemic risk Mitigate the illicit finance and national security risks posed by the illicit use of digital assets…

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Failure to Comply with CRS Obligations May Lead to Significant Charges

By Jon-Jorge Aras / February 22, 2022
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Recently, the Securities and Exchange Commission (SEC) charged 12 additional firms for failure to meet Form CRS (Client Relationship Summary) obligations. Six broker-dealers and six investment advisers agreed to settle charges for neglecting to deliver and file Form CRS. Jon-Jorge Aras, Partner and Chair of Securities Litigation at Warren Law Group states, “Keeping up with your…

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Super Bowl LVI Ads Prove “Main Street” Has More Access to Cryptocurrency than Wall Street

By Jon-Jorge Aras / February 14, 2022
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Cryptocurrency is undoubtedly a conversation starter and last night several Super Bowl ads further hyped up the attention around these investments. The major crypto exchanges (FTX, Coinbase, and Crypto.com) showcased their prime-time ads based on the central idea that if you aren’t investing in crypto, you are missing out on making money. The Super Bowl…

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Warren Law Group

U.S. Central Bank Digital Currency: Pros and Cons Analysis

By Jon-Jorge Aras / January 24, 2022
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The Federal Reserve has recently released a report analyzing the pros and cons of a potential U.S. Central Bank Digital Currency. The report states that a safe and regulated centralized digital currency could provide liquidity to households and businesses. Further, a centralized currency would give entrepreneurs a platform on which to create new financial products…

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Warren Law Group

ConstitutionDAO Tokens Worth Over $300 Million After Disbanding

By Jon-Jorge Aras / January 21, 2022
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As of January 19, 2022 tokens of the now defunct ConstitutionDAO are worth over $300 million.  Last year, the ConstitutionDAO raised over $47 million for the purpose of purchasing an original copy of the U.S. Constitution at a Sotheby’s auction. In return for their contribution, the DAO issued PEOPLE tokens, which were going to represent…

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