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SEC Charges Final Participant in Multi-Million Dollar Scheme to Spread and Trade on False Rumors about Public Companies

The Securities and Exchange Commission today charged Milan Vinod Patel, of Cumming, Georgia, for spreading more than 100 false rumors about public companies to generate more than $1 million in illicit trading profits. The SEC previously charged Barton Ross, Mark Melnick, Anthony Salandra, and Charles Parrino for their roles in this scheme. According to the […]

Roadrunner Settles Financial Fraud Claims – SEC ACTIONS

Financial fraud cases were at one time a staple of the Enforcement Division. Cases alleging financial fraud were regularly uncovered and filed. In recent years, however, the Commission has had difficulty in bringing such cases despite significant initiatives. Nevertheless, the agency has persisted and had some success. Its most recent financial fraud action is In […]