September 30, 2015
A Santa Barbara, California, money manager who was accused by the U.S. Securities and Exchange Commission of fleecing investors by promising to buy them pre-initial public offering shares of Facebook Inc. and Twitter Inc. on Tuesday was ordered to pay a total of nearly $3.08 million in penalties.
September 10, 2015
A Santa Barbara money manager accused by the U.S. Securities and Exchange Commission of fleecing investors by promising to buy them pre-initial public offering shares of Facebook Inc. and Twitter Inc. scored a partial victory Wednesday as a California federal judge reduced his financial penalty to $2.9 million.
August 11, 2015
A Santa Barbara money manager who allegedly duped investors with promises he would buy for them pre-initial public offering shares of Facebook Inc. and Twitter Inc. opposed on Monday $5.7 million in proposed sanctions on him, saying the punishment is excessive and he has already paid back an additional $1.3 million to investors on his own volition.
July 21, 2015
The U.S. Securities and Exchange Commission on Monday asked a California federal court to impose $5.7 million in sanctions on a Santa Barbara money manager who allegedly duped investors with promises he would buy for them pre-initial public offering shares of Facebook Inc. and Twitter Inc.
December 23, 2014
The U.S. Securities and Exchange Commission in California federal court on Tuesday accused a Santa Barbara-based man of raising $3.4 million from investors to buy pre-initial public offering shares of Facebook Inc. and Twitter Inc. and instead using the proceeds to fund his own money-losing day trading activities.