News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
- 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.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
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.
2024-07-02T20:35:00Z By Adrianne Appel
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
2024-07-02T14:42:00Z By Adrianne Appel
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
2024-07-02T13:50:00Z By Aaron Nicodemus
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
Site powered by Webvision Cloud