On January 28, 2010, the Securities and Exchange Board of India restrained M/s. Shree Parshwa Finance, Mr. Vasant H Bissa and Ms. Vaishali J Shah from accessing the securities market and further prohibit them from buying, selling or otherwise dealing in securities, directly or indirectly, for a period of three months.
On June 28, 2010, the Securities and Exchange Commission instituted public administrative and cease-and-desist proceedings against Mr. David D Hepworth. These proceedings involve the misappropriation of approximately $650,000 in investor funds by Hepworth, the former Chief Compliance Officer of Interfund Capital Corp. a Commission-registered investment adviser. From August 2007 to May 2009, Hepworth misappropriated money from investors in a private fund that Interfund managed in order to pay personal and business expenses. During this period, Interfund, aided and abetted by Hepworth, failed to maintain proper custody of client funds and securities.The Commission barred Mr. Hepworth from association with any investment adviser, and also prohibited him from serving or acting as an employee, officer, director, member of an advisory board, investment adviser or depositor of, or principal underwriter for, a registered investment company or affiliated person of such investment adviser, depositor, or principal underwriter.
The Investment Industry Regulatory Organization of Canada on May 5, 2010 suspended Ross Patrick Ewaniuk for a period of one year from the effective date of the Settlement Agreement and ordered to pay a fine of $27,500 for failing to properly perform his role as gatekeeper in the capital markets.
The Investment Industry Regulatory Organization of Canada on May 19, 2010 suspended Wayne White for 45-days from any registration with IIROC and ordered to pay a fine of $97,000 for engaging in conduct unbecoming or detrimental to the public interest.
The Investment Industry Regulatory Organization of Canada on June 21, 2010 alleged that Mr. Ronald Stoneburg while being a Registered Representative with Canaccord Capital Corp., misappropriated approximately $150,000 from two clients and while being an employee and later a Registered Representative with yourCFO Advisory Group Inc., misappropriated in excess of $200,000 from approximately 11 clients.
As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions June 2010, FINRA announced that it has ordered Westpark Capital Inc. to pay a total of $400,000 for supervisory system failures, and has suspended two officers for failing to supervise brokers in two now-closed Long Island branches who churned customer accounts and engaged in unauthorized and unsuitable trading in multiple accounts. FINRA suspended Westpark’s former Chief Compliance Officer, William A. Morgan, for four months in any principal capacity and ordered him to pay a $5,000 fine.

As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions June 2010, FINRA announced that it has permanently barred Tod Bretton, former Chief Compliance Officer and Head Trader for Prestige Financial Inc., for engaging in a fraudulent trading scheme that generated approximately $1.3 million in profits for him and his firm at the expense of customers by subjecting their orders to improper and undisclosed additional charges.
On February 1, 2010, the Securities and Exchange Board of India warned Bharat J Patel to be careful and cautious in the conduct of his business and to adhere to and comply with all the statutory provisions while carrying out his activities in the securities market. It is alleged that Mr. Patel had executed 20 structured deals for 5,00,000 shares on BSE while trading for his clients, which created artificial volume and price rise in the shares of Sunearth.
On February 1, 2010, the Securities and Exchange Board of India warned Prashant J Patel to be careful and cautious in the conduct of his business and to adhere to and comply with all the statutory provisions while carrying out his activities in the securities market. It is alleged that Mr. Patel has executed 29 structured and 9 cross deals for 5,00,000 shares and 3,89,930 respectively at NSE while trading for his clients, which created artificial volume and price rise.
As published by the New York State Banking Department on June 17, 2010, the New York Field Office of the United States Secret Service (“USSS”), announced the unsealing of charges against 38 defendants, for allegedly engaging in various mortgage fraud scams that collectively defrauded lenders out of over $29 million in home mortgage loans, and victimized hundreds of homeowners. Wilfredo Blas, who is alleged to have submitted false documents purchased from the informant in support of fraudulent loan applications, and to have recruited straw purchasers. Blas is also alleged to have instructed a straw purchaser to lie to law enforcement authorities about the mortgage fraud scheme.
The Calcutta Stock Exchange on June 22, 2010 published that SEBI has cancelled the registration of Shew Ratan Shroff, Prop.M/s. Shew Ratan Shroff with effect from 18th January,2010.
The Companies House of United Kingdom included the name of James Dominic Wrigley in the list of Register of Disqualified Directors from August 13, 2009 to August 12, 2014.
The Financial Industry Regulatory Authority (FINRA) announced that it has filed a complaint against McGinn, Smith & Co., Inc. and its President and part owner, David L Smith, charging them with securities fraud in the sale of tens of millions of dollars in unregistered securities. The FINRA complaint also charges the firm and Smith with misuse of investor funds, supervisory deficiencies and violation of securities registration rules.
On June 25, 2010, the Securities and Exchange Commission announced that on June 23, 2010, the SEC filed fraud and other charges against four individuals and five companies in connection with three related Ponzi schemes largely targeting the Mormon community. The Commission alleges that from approximately June 2005 through January 2007, Anthony C Zufelt and Joseph A. Nelson raised at least $3.6 million by convincing at least 36 investors to invest in offerings by defendants Zufelt Inc. and Silver Leaf Investments Inc.
On June 25, 2010, the Securities and Exchange Commission announced that on January 20, 2010, the United States District Court for the Southern District of Florida ordered Ricardo H Goldman to pay disgorgement in the amount of $260,360, prejudgment interest of $104,849 and imposes a civil penalty of $130,000. for fraudulently operating an unregistered day trading brokerage firm through his company, E Trade Fund LLC.
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