- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2023-11-03T18:00:00
The president and chief compliance officer of investment adviser Prophecy Asset Management misled investors about more than $350 million in losses while pocketing millions in management and incentive fees, according to the Securities and Exchange Commission (SEC).
John Hughes and his associates at Prophecy, which advised hedge funds and reported more than $500 million in assets under management, misled investors, auditors, and the funds’ administrator about the funds’ trading practices, risk, and performance, the SEC alleged in its complaint, filed Thursday in U.S. District Court for the District of New Jersey.
In a related matter, Hughes pleaded guilty to an information charging him with one count of conspiracy to commit securities fraud., the Department of Justice announced.
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2023-12-22T17:00:00Z By Kyle Brasseur
Brooge Energy agreed to pay $5 million in a settlement with the Securities and Exchange Commission resolving fraud charges related to a scheme to inflate revenues.
2023-11-21T19:27:00Z By Kyle Brasseur
SkiHawk Capital Partners won the dismissal of fraud claims against it, another investment adviser, and their owners and managers by the Securities and Exchange Commission.
2023-11-17T15:08:00Z By Kyle Brasseur
The chief compliance officer of a defunct pharmacy holding company was sentenced to 4 1/2 years in prison after being found guilty of conspiracy to commit healthcare fraud and wire fraud earlier this year.
2025-04-22T12:00:00Z
The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
2025-04-18T17:45:00Z By Oscar Gonzalez
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
2025-04-15T07:30:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
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