office for the Southern District of New York

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  SEC Enforcement Roundup: High School Dropout ‘Advisor’ Busted for Fraud

  By Marlene Y. Satter, AdvisorOne  |  November 20, 2012

  The SEC charged a man who was high school dropout and a phony “investment advisor” who spent his clients’ funds on drugs and gambling; and a group of former high school buddies were charged with engaging in insider trading.

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  SEC Enforcement Roundup: BP to Pay Third Largest Penalty in SEC History

  By Marlene Y. Satter, AdvisorOne  |  November 16, 2012

  As part of the $4.5 billion settlement with the U.S., BP admitted to misleading investors about the rate of the oil flow in the Deepwater Horizon disaster in the Gulf of Mexico in 2010.

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  SEC Charges Four Brokers With Overcharging Customers $18.7 Million

  By Melanie Waddell, AdvisorOne  |  October 5, 2012

  The SEC charged four brokers who formerly worked on the cash desk at a New York-based BD with using hidden markups and markdowns and secretly keeping portions of profitable customer trades.

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  Former Yahoo Exec, Former Ameriprise Fund Manager Charged With Insider Trading

  By Marlene Y. Satter, AdvisorOne  |  May 22, 2012

  Robert W. Kwok, formerly Yahoo’s senior director of business management, and Reema D. Shah, a former mutual fund manager at an Ameriprise Financial unit, were charged with insider trading.

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  SEC, FINRA Enforcement Roundup: Former Detroit Mayor, Movie Producer Charged

  By Marlene Y. Satter, AdvisorOne  |  May 11, 2012

  Among those finding themselves recently on the wrong end of an SEC action were a movie producer, former Detroit mayor Kwame Kilpatrick and a Shanghai-based auditing firm.

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  Diamondback Capital Agrees to Settle SEC Charges

  By Marlene Y. Satter, AdvisorOne  |  January 23, 2012

  The Securities and Exchange Commission announced Monday that Diamondback Capital Management has agreed to settle charges of insider trading for more than $9 million.

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  SEC Charges Madoff Employee With Falsifying Documents

  By Marlene Y. Satter, AdvisorOne  |  December 20, 2011

  Enrica Cotellessa-Pitz, a more-than-30-year employee of Bernard Madoff Investment Securities, was charged Monday by the SEC of falsifying internal accounting records at the firm to hide the fact that client money had been transferred to operating accounts to hide trading losses.