Jade Management may be tied to alleged Success Trade Securities Investment Fraud

Block & Landsman by Block & Landsman

The securities fraud complaint and temporary cease-and-desist order (see here for more information) filed against Success Trade Securities by the Financial Industry Regulatory Authority may be the tip of a larger fraud.  Now it appears the NFL Players Association has asked a handful of athletes with investment involving Jade Management to contact the FBI. Jade Management may have ties to the fraudulent investments made by NFL and NBA players through Success Trade Securities.  These investments supposedly generated returns between 11 and 26...Read More

FINRA Files Temporary Cease-and-Desist Order against Success Trade Securities

Block & Landsman by Block & Landsman

The Financial Industry Regulatory Authority (“FINRA”) has filed a Temporary Cease-and-Desist Order (“the Order”) against Washington, D.C.-based Success Trade Securities.  Fuad Ahmed, Success Trade Securities CEO and President, was also named in the Order.  The Order seeks to halt fraudulent activities and the misuse of investors’ funds and assets.  The Order freezes all activities at Success Trade Securities. In addition to the Order, FINRA filed a complaint against Success Trade Securities and Ahmed, alleging securities fra...Read More

Allegations of Securities Fraud Result in Indictments for four DBSI Inc. Executives

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A federal grand jury in Idaho indicted four top executives of DBSI Inc. on Wednesday alleging securities fraud violations.  The charges, 83 in all, include conspiracy to commit securities fraud, mail fraud, interstate transportation of stolen property, and wire fraud. Assistant U.S. Attorney Wendy Olson announced the indictment against Douglas Swenson, founder and president of DBSI Inc.  Swenson was indicted along with DBSI’s general counsel, Mark Ellison, and two assistant secretaries, David Swenson and Jeremy Swenson. Olson was quot...Read More

Mary Jo White Sworn in as New SEC Chair

Block & Landsman by Block & Landsman

The Securities and Exchange Commission (“SEC”) announced today Mary Jo White was sworn in as its 31st Chair.  Chairman White comes to the SEC after having spent years prosecuting securities and financial institution frauds and international terrorism cases as U.S. Attorney for the Southern District of New York from 1992 to 2002.  Afterwards, she was a partner at the law firm of Debevoise & Plimpton LLP in New York. “It is an honor to lead the talented and dedicated SEC staff on behalf of America’s investors and markets,” sta...Read More