Category Archives: Securities Fraud
Black Diamond Ponzi Scheme
Three more members of the infamous Black Diamond Ponzi Scheme were sentenced to prison and ordered to pay millions in restitution to victims. Within the Ponzi scheme, the members claimed that they were a legitimate hedge fund operating in North Carolina, and it came crashing down in 2012 after the operation lost over $40… Read More »
Supreme Court Upholds and Adjusts “Fraud on the Market” Theory
On June 23, 2014, the United States Supreme Court issued its ruling in the case of Halliburton v. Erica P. John Fund, Inc., closing the door on a question of extreme importance to securities fraud law. At the heart of the Halliburton case was a legal theory known as “fraud on the market.” As… Read More »
Florida “Blue Sky” Laws
The federal government’s authority over the U.S. securities market is far reaching. The FBI and the Justice Department investigate allegations of fraud. The Securities and Exchange Commission polices industry professionals and wrongdoing investors. Even FINRA’s oversight of brokers and brokerages has its roots in a federal law requiring its existence. Indeed, the federal securities… Read More »
