SEC Unmasks $91M Ponzi Scheme in Texas: Three DFW Residents Charged in Sweeping Fraud Case
The Securities and Exchange Commission (SEC) has filed sweeping civil charges against three Dallas-Fort Worth (DFW) residents for orchestrating an alleged $91 million Ponzi scheme that defrauded over 200 investors. The defendants—Kenneth Alexander II, Robert D. Welsh, and Caedrynn E. Conner—now face allegations of violating the antifraud and registration provisions of federal securities laws through a complex network of deceptive investment vehicles.
Civitas Resources Faces Securities Class Action After 18% Stock Drop: What Investors and Public Companies Should Know
Civitas Resources, Inc. (NYSE: CIVI), a prominent player in the U.S. oil and gas sector, now finds itself at the center of a securities class action lawsuit following a sharp 18% decline in its stock price. The complaint, filed in the U.S. District Court for the District of New Jersey (captioned Lin v. Civitas Resources, Inc., et al., No. 25-cv-03791), alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, spotlighting misstatements concerning production capabilities and capital expenditures.
SafeMoon Trial Opens: Former CEO Claims Innocence, Points to Founder as Culprit
The trial of SafeMoon’s former CEO, Braden John Karony, commenced this week in the U.S. District Court for the Eastern District of New York (EDNY), adding another complex layer to the growing landscape of crypto enforcement actions. Facing charges of securities fraud conspiracy, wire fraud conspiracy, and money laundering conspiracy, Karony has publicly asserted his innocence—and in a rare move, attempted to deflect culpability toward SafeMoon’s founder, Kyle Nagy.
Start-Up AI and Robotics Company and CEO Face SEC Charges for Investor Fraud
In a recent enforcement action, the Securities and Exchange Commission (SEC) charged Destiny Robotics Corp., a start-up specializing in artificial intelligence (AI) and robotics, along with its founder and CEO, Megi Kavtaradze, for allegedly defrauding investors through false and misleading statements about the company’s operations and products.
Key Takeaways from SEC Fraud Charges Against the Kubient Officers
In early October, the Securities and Exchange Commission (SEC) filed accounting fraud charges in the U.S. District Court for the Southern District of New York against the CEO, CFO, and Audit Committee Chair of Kubient, Inc. Kubient, a technology company that claims to employ artificial intelligence to detect fraud in digital advertising, is now at the center of an enforcement action highlighting serious governance failures at the highest levels of management.
SEC Charges Accountant Olayinka Oyebola and His Firm With Aiding and Abetting Massive Fraud
The Securities and Exchange Commission (SEC) has taken significant enforcement action against Olayinka Oyebola and his accounting firm, Olayinka Oyebola & Co. (Chartered Accountants), alleging their role in a sprawling securities fraud orchestrated by Mmobuosi Odogwu Banye, a businessman with an ambitious—and, it turns out, fictitious—empire of U.S.-based companies.