"Nothing motivates enforcement staff more than protecting those who invest their savings in our markets," said David Woodcock, director of the SEC's Division of Enforcement.

A judge sentenced Randy Miller to six years in prison and his son, Chad Miller, to five years. They had pleaded guilty to fraud stemming from a bond sale.

Without admitting or denying the findings, Alan Appelbaum agreed to be barred from participating in any securities offerings, but is able to apply for reentry after ten years.

"Nothing is off the table in terms of looking at who we can potentially charge," said Brian Fagel, assistant director of the SEC's Public Finance Abuse Unit.  

State Controller Malia Cohen said she stepped up to help draft audit guidelines following a charter school fraud case that cost the state $400 million.

Vern Breland has been permanently barred from participating in any municipal securities issuance after he and the city's municipal advisor were charged with misleading investors on two offerings.

Capital Markets Advisors and Richard Ganci have called for partial judgment in their defense against Securities and Exchange Commission claims that they misled investors, ignored signs of financial distress and that they failed to disclose material conflicts of interest to nearly 200 municipal clients.

As it tracks the spending of $4.6 trillion of pandemic funds, the GAO is also reviewing what some Republicans deem improper use of the funds by cities and states.

Ruben James Rojas agreed to admit wrongdoing and pay a $50,000 fine after the Securities and Exchange Commission found that he misled bond investors in connection with a $100 million offering.

The former municipal advisor Porter Bingham has been sentenced to four months imprisonment and two years term of supervised release following his fraudulent billing to the city of Rolling Fork, Mississippi in connection with a 2015 bond offering.

Illinois-based broker dealer Ronald Molo has been fined $815,104 in disgorgement and prejudgment interest and has been permanently enjoined from participating in the issuance, purchase, offer or sale of any security.

The SEC’s Public Finance Abuse Unit has brought four enforcement cases against municipal issuers this year, which signals a shift from the usual focus on underwriters and municipal advisors.

Park View School Inc., a charter school operator in Prescott Valley, has filed for bankruptcy following years of financial mismanagement and a lawsuit from the SEC.

Karl K. Klessig provided a fraudulent loan document and forged a signature in an application last year to acquire control of Golden Pacific Bancorp, according to the Federal Reserve.

Porter Bingham stands accused of stealing $33,000 from the city of Rolling Fork, Mississippi.

Come away better prepared for what’s ahead after hearing Satish Kini and David Sewell of Debevoise & Plimpton and Darin Jarrett, Deputy BSA/AML Officer at American Express, in conversation with Bonnie McGeer, Executive Editor of American Banker, as they explore: •How the new administration might change the BSA/AML Act •Are there easy wins in relieving the burden of suspicious activity reports without undermining effectiveness? •New ways that companies are innovating within AML compliance and risk •What banks are doing to drive next-gen efficiency and effectiveness of risk and compliance

Jim Beard, Atlanta's CFO for seven years, was charged by a federal grant jury with fraud, theft of government funds and purchasing illegal machine guns.

A judge ruled Monday that the facts of the case supported a finding the defendants broke the law.

Moody's calls the missed payments an administrative default given the district's willingness and ability to pay.

“The channel doesn’t matter in terms of responsibility for the information,” said SEC Chairman Jay Clayton.