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Securities and Exchange Commission

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Manhattan's Top Federal Prosecutor To Resign Before Trump Presidency Manhattan's Top Federal Prosecutor To Resign Before Trump Presidency
Manhattan's Top Federal Prosecutor To Resign Before Trump Presidency US Attorney Damian Williams, who has overseen high-profile cases in the Southern District of New York, has announced his resignation, a move that comes ahead of President-elect Donald Trump’s second term and the expected nomination of his successor.  Williams’ resignation will take effect at 11:59 p.m. on Friday, Dec. 13, 2024, according to a statement from his office on Monday, Nov. 25.  The resignation comes as President-elect Trump has announced plans to nominate Jay Clayton, a former Securities and Exchange Commission Chairman under Trump’s first administration, to lead the of…

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by Ben Crnic
News
$1B Scheme: Pair Of CEOs, Including Manhasset Man, Defrauded 10K Investors, Jury Finds $1B Scheme: Pair Of CEOs, Including Manhasset Man, Defrauded 10K Investors, Jury Finds
$1B Scheme: Pair Of CEOs, Including Manhasset Man, Defrauded 10K Investors, Jury Finds A New York resident was one of two CEOs convicted in federal court of a $1 billion fraud scheme involving thousands of investors. Long Island resident David Gentile, age 57, of Manhasset, and Jeffry Schneider, age 55, of Austin, Texas, were found guilty in federal court on all counts of an indictment charging them with conspiracy to commit securities fraud, conspiracy to commit wire fraud, and securities fraud. Gentile, the owner and CEO of GPB Capital Holdings, was also convicted on two counts of wire fraud. The verdict came after an eight-week trial. When sentenced on Thursd…

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by Joe Lombardi
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$520,000 Stock Fraud Scheme Leads To Indictment For Barred NY Investment Broker: DA $520,000 Stock Fraud Scheme Leads To Indictment For Barred NY Investment Broker: DA
$520,000 Stock Fraud Scheme Leads To Indictment For Barred NY Investment Broker: DA A barred investment broker has been indicted on charges he stole $520,000 from six investors who believed they were investing in stocks for several high-profile companies. Long Island resident Peter Quartararo, age 57, of Glen Cove, was arraigned Thursday, March 9 on charges of grand larceny, said Nassau County District Attorney Anne Donnelly. “This defendant allegedly tricked investors into believing they were getting in on the ground floor of high-profile companies that were going public," Donnelly said. During the "scheme" which began in July 2018 and continued through January 2021, Qua…

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by Kathy Reakes
Lifestyle
Brand-New Forbes Rankings Reveal Richest NY Residents Brand-New Forbes Rankings Reveal Richest NY Residents
Brand-New Forbes Rankings Reveal Richest NY Residents The richest people in America are revealed in a new Forbes 400 ranking, which includes over a dozen New Yorkers. To come up with its 41st annual list of the 400 wealthiest Americans, the outlet consulted with a variety of sources, including financial advisors, Securities and Exchange Commission documents, court filings, attorneys, and news articles. Researchers looked at assets held, including public and private companies, as well as personal property like car collections, yachts, planes, and jewelry. Debts and charitable giving were also factored in, Forbes said. The top 20 people on th…

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by Michael Mashburn
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Bed Bath & Beyond Exec Faced $1.2B Insider Trading Lawsuit When He Jumped To His Death: Report Bed Bath & Beyond Exec Faced $1.2B Insider Trading Lawsuit When He Jumped To His Death: Report
Bed Bath & Beyond Exec Faced $1.2B Insider Trading Lawsuit When He Jumped To His Death: Report An executive at Bed Bath & Beyond who jumped 18 stories to his death at the so-called "Jenga" tower in New York City where he lived on Friday, Sept. 2 was facing a $1.2 billion insider trading lawsuit, according to a new report. Gustavo Arnal, age 52, was the company's executive vice president and chief financial officer. Arnal was among several defendants named in a complaint alleging a "pump-and-dump" stock fraud scheme, the Daily Mail first reported. Bed Bath & Beyond, the lead defendant, allegedly made a “materially false and misleading statement” in a Securities and Exchange …

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by Joe Lombardi
News
Long Island Man Admits Scamming $3.5M From Investors Long Island Man Admits Scamming $3.5M From Investors
Long Island Man Admits Scamming $3.5M From Investors A Long Island man admitted on Monday, Nov. 1 that he scammed investors in a purportedly revolutionary new aspirin out of $3.5 million that he used as his own personal piggy bank. Donald A. Milne III, a 57-year-old repeat offender from Massapequa, defrauded more than 70 victims from throughout the country who thought they'd invested in Instaprin Pharmaceuticals, which he touted as a “fast-acting form of powdered aspirin that could instantly stop heart attacks and strokes," Acting US Attorney for the District of New Jersey Rachael A. Honig said. He used the money instead for a Caribbean vacat…

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by Jerry DeMarco
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Trio Accused Of Insider Trader After NY Company's Stock Surged Following Rebranding Trio Accused Of Insider Trader After NY Company's Stock Surged Following Rebranding
Trio Accused Of Insider Trader After NY Company's Stock Surged Following Rebranding The Securities and Exchange Commission has charged three people with insider trading on allegations they bought shares of a New York company before its announcement it would "pivot" to a surprise name change and new business model. Eric Watson, an undisclosed control person of Long Island-based Long Blockchain, drove the business change during the 2017 crypto craze and tipped off his friend and broker, Oliver Barret-Lindsay, according to the SEC's complaint, filed in the United States District Court for the Southern District of New York on Friday, July 9. Long Blockchain, based in…

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by Joe Lombardi
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Long Island Broker, Business Partner Charged For Alleged $436K Fraud Scheme, DA Says Long Island Broker, Business Partner Charged For Alleged $436K Fraud Scheme, DA Says
Long Island Broker, Business Partner Charged For Alleged $436K Fraud Scheme, DA Says A barred investment broker from Long Island and his business partner are facing charges for allegedly stealing hundreds of thousands of dollars from investors who thought they were getting in on the ground floor of major upcoming companies. Glen Cove resident Peter Quartararo, the barred broker, and his partner, Paul Casella, of East Meadow, were arraigned on Tuesday, April 27 for allegedly stealing $436,000 from four investors to live a life of luxury, the District Attorney's Office announced. Nassau County District Attorney Madeline Singas said that the investors believed they were invest…

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by Zak Failla
News
Former Broker From Long Island Accused Of Swindling $1M From Friends, Neighbors Former Broker From Long Island Accused Of Swindling $1M From Friends, Neighbors
Former Broker From Long Island Accused Of Swindling $1M From Friends, Neighbors A former investment broker from Long Island has been accused of using a fake hedge fund to fleece friends and neighbors out of more than $1 million in a Ponzi scheme. Rand Heckler, 55, of Glen Head, allegedly used his clients’ money – more than $1 million – to pay for his mortgage, country club membership and other expenses, Nassau County District Attorney Madeline Singas said. Heckler was arraigned on Wednesday, Sept. 30 in Mineola and charged with: three counts of grand larceny in the second degree (a Class C felony),  grand larceny in the third degree (a Class D felony), sc…

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by Joe Lombardi
News
Private Equity Firm Director From Norwalk Indicted For Obstruction Of Justice Private Equity Firm Director From Norwalk Indicted For Obstruction Of Justice
Private Equity Firm Director From Norwalk Indicted For Obstruction Of Justice A former Securities and Exchange Commission investigator from Fairfield County is facing an obstruction of justice charge for alleged unauthorized computer access and disclosure of confidential information to a firm where he sought a job. Michael Cohn, 59, of Norwalk, the Chief Compliance Officer of GPB Capital Holdings in Manhattan allegedly stole information from the SEC before he started working for FPB in October last year. Cohn was charged obstruction of justice, unauthorized computer access and unauthorized disclosure of confidential information and released on a $250,000 bond followi…

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by Zak Failla