Thursday, June 9, 2016

SEC Charges #AZN Inside Traders & 8 Others In Unrelated Securities Fraud Charges Across The Country, #Florida, #NorthDakota, #Kansas, #Nebraska, #Oklahoma, #Arizona, #New York, #Colorado

The SEC charged Michael J. Fefferman, senior director of information technology at Ardea Biosciences Inc, and his brother-in-law Chad E. Wiegand with insider trading. Ardea Biosciences was eventually sold to AstraZeneca PLC (NYSE: AZN). Wiegand, a stockbroker, purchased Ardea and tipped fellow stockbroker Akis C. Eracleous off about the deal.  The alleged insider trading ring amassed $530K in illegal profits. “As a corporate insider, Fefferman breached his duty to Ardea’s shareholders by tipping confidential information about significant corporate events before they were announced,” said Sharon B. Binger, Director of the SEC’s Philadelphia Regional Office. All three have settled with the SEC.

The SEC also charged the following people with various unrelated forms of securities and/or wire fraud:

  • Frederic Elm f/k/a Frederic Elmaleh, 45 resides in Fort Lauderdale, Florida. AKA, Elm Tree Investment Advisors, LLC, 45, Ponzi-like payments. Sanctions have been ordered.
  • Robert H. Medhus is a 67 year old resident of Jamestown, North Dakota - 13 counts of securities fraud, sentenced to serve ten years of incarceration.
  • DeVon J. Carlson, age 55 is a resident of Shawnee, Kansas, two counts of securities fraud, sentenced to serve 32 months of incarceration and ordered to pay restitution in the amount of $231,078.
  • Brian J. Schuster, age 41, is a resident of Ashland, Nebraska, four counts of securities fraud, sentenced to serve between 80 months and 16 years of incarceration.
  • Jason Matthew Pennington age 43, is a resident of El Reno, Oklahoma, charged with wire fraud, sentenced to serve 42 months of incarceration.
  • Rebecca L. Engle, age 61, is a resident of Green Valley, Arizona, Engle pled no contest to two counts of securities fraud, sentenced to serve between three and six years of incarceration.
  • The ELIV Group, LLC and Scott Valente, Valente is 57 years old and is a resident of East Greenbush, New York, fraudulently lured approximately eighty individual investors, sanctions have been imposed.
  • Clinton D. Fraley, age 38 is a resident of CaƱon City, Colorado, one count of securities fraud in violation, sentenced to serve 12 years of incarceration and ordered to pay restitution in the amount of $617,710.

If you like what you're reading, please join my mailing list to receive blog posts and updates as they occur. If you're an investor with all of your assets tied up in the stock market and cash, you might want to consider a few diversification strategies. Gold is the oldest asset in the world and it's inflation proof. Bitcoin is the gold standard for the cryptocurrency world, which is the fastest growing asset class in the world. Diversifying your portfolio into one or both of these assets can help to insure your portfolio against a stock market crash or inflation. Most importantly, it can help to safeguard the gains you've made over the last 10 years.

Please note that there are other companies that sell gold and Bitcoin on the market, and you should always do your research when making decisions about your portfolio. Just like your personal health, if you're planning on having major surgery, you need to get a second, and sometimes a third, opinion. You want to make sure your surgeon is good and has performed the procedure many, many times.  In the same way, you need to trust your broker and you need to make sure they are reputable. This is the process I used when looking for a broker to recommend.

Full disclosure: RegalAssets compensates me for everyone I send their way, but I would receive compensation from any company I chose to recommend. The only broker I'm recommending is Regal, primarily due to its innovative product offering in my favorite commodities - gold, precious metals and cryptocurrency like Bitcoin. They also have a distinguished track record for success (see below).

Next Steps: Use Regal as one of your options and compare against them. Your other brokers should be able to offer the same level of service and the same low rates. The kit is free and it will provide you with a basis for comparison. Don't wait, get started today. Fill out the form below to get your free investment kit.

If you're interested in learning more about gold investments, click here to receive a free gold investment kit from Regal Assets.

If you're interested in learning more about Bitcoin investments, click here to receive a free Bitcoin investment kit from Regal Wallet.

Featured Post

Can Digital Currency (Bitcoin / M-Pesa) Wipe Out World-Wide Corruption & Poverty?

I often hear about all the alleged "criminal behavior" Bitcoin supports. I think it's important to discuss Bitcoin's p...

Popular Posts

Popular Older Posts