Articles Posted in SEC

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On February 14, 2019 and February 22, 2019, respectively, A federal district court in Securities and Exchange Commission v. Walter C. Little and Andrew M. Berke, Civil Action No. 1:17-CV-03536 (S.D.N.Y., filed May 11, 2017), entered judgments against two inside traders, a former law firm partner and his neighbor.

Profits of about $1 million were made with the stolen inside info.

The SEC alleged that Walter C. Little, an attorney, viewed confidential material on his law firm’s  computer network related to about 11 deals involving law firm clients. Little then purportedly  traded and tipped his neighbor, Andrew M. Berke. The Complaint stated that the reading occurred from February 2015 to February 2016.

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On February 7, 2019, the Securities and Exchange Commission (SEC) charged the owner of an online gaming company, Kizzang LLC, with fraudulently raising  $9 million from 50 individuals.

The SEC alleged that Robert Alexander represented  that investors would be returned 10 times capital invested and that Alexander had his own millions at stake in Kizzang, had made a $50 million charitable donation, and that he was the creator of a significant video game.