Securities fraud

The archdiocese allegedly backed away from repeated promises bond parties would be paid in full, they said.

Randy Miller, 70, and Chad Miller, 41, entered guilty pleas Wednesday in the Legacy Cares securities fraud case and will be sentenced at a later date.

The SEC and DOJ announced charges in connection with municipal bonds issued for the Legacy Cares sports complex in Arizona, which defaulted and went bankrupt.

Ex-IFS Securities head of fixed income Keith Wakefield committed criminal securities and wire fraud from 2017 to 2019, a federal jury in Illinois found.

It's the third time this month that the SEC has announced charges against city officials for disclosure-related violations.

A federal judge signed off on sanctions against IFS Securities Inc.'s former head trader for allegedly pocketing phony commissions and unauthorized trades that bankrupted the firm.

Keith A. Wakefield's alleged unauthorized and speculative trading at the former IFS Securities Inc. and his attempts to cover it up drew charges Thursday from the SEC and U.S. Attorney's office.

RBC and two muni managers settled charges of flipping bonds in the SEC's latest action targeting abuse of retail order periods.

Former Markham, Illinois, Mayor David Webb Jr. was accused of pocketing bribes for a project financed with bonds. He also pled guilty to criminal charges.

A federal judge agreed with the SEC that the Chicago suburb must prove the status of reforms agreed to in settling allegations the city misused bond proceeds.

Two executives for the failed Tri-Valley charter schools agreed to pay $20,000 and $15,000 to settle charges of misleading municipal bond investors.

The SEC and Bank of Oklahoma differ in what they want a federal judge to do next in the Christopher Brogdon case, though both claim to have investors' best interests at heart.

Clayton noted a trend of issuers being advised that information they supply on EMMA is subject to more anti-fraud scrutiny than information provided in other ways.

The financier's lawyers disputed a court-appointed monitor who had criticized him for maintaining an expensive lifestyle while his investors faced losses.

At the National Federation of Municipal Analysts’ annual meeting in Charleston, South Carolina, members asked the board to find ways to open up communications between investors and issuers.

The lawsuit filed in federal court is now the second national suit alleging fraud in the variable-rate debt market.

Municipal enforcement cases including SEC vs. Dwayne Edwards are among those that have been halted.

A Jan. 22 hearing has been set at which time a judge may order Dwayne Edwards to disgorge $766,850 plus interest and pay civil penalties.

The SEC announced the settlement with former UBS broker Chris Rosenthal, the biggest yet from its ongoing flipping investigation.

The Securities and Exchange Commission has sent letters to the 12 top banks and broker-dealers that remarket variable rate demand obligations, seeking information and documents on their remarketing and rate resetting practices.