While the youngs are buying cryptocurrency, the olds prefer old-fashioned shiny metal. That might be why Jeffrey Santulan targeted retirees in what the SEC says was a multimillion-dollar fraudulent scheme. Santulan owns a firm called Safeguard Metals which has one office in the Los Angeles suburb of Woodland Hills
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German Nino was a financial advisor for UBS in Miami, specializing in work with high-net-worth clients. He apparently decided to step out on his wife, and he needed money to impress his new girlfriends. He joined UBS in 2012. One of his clients was a retired couple with $11 million in assets
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For the second week in a row, the SEC didn’t announce any actions against wrongdoers, but the CFTC was heaping additional sanctions on a convicted fraudster. William S. Evans III of Harrodsville, KY was ordered to return $17 million to investors in his Ponzi scheme, billed as a commodities trading fund
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The SEC was a quiet place this week, at least in term of announced enforcement actions. Its derivatives counterpart, the Commodity Futures Trading Commission, picked up the slack and suspended the registration of Ted Brent Alexander of Jackson, Mississippi because of his federal criminal indictment on securities and commodities fraud, conspiracy, and wire fraud
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Crypto might receive widespread adoption sooner if some of its biggest promoters would stop running scams. This week, the SEC charged Craig Sproule, an Australian citizen, with making false, material statements in conjunction with an initial coin offering
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