SEC v. <UNKNOWN>, No. 1:17-cv-07793 (May 5, 2020) — Complaint
raw: Securities And Exchange Commission V Telomere Diagnostics Ltd
Securities And Exchange Commission V Telomere Diagnostics Ltd, No. 1:17-cv-07793 (May 5, 2020)
The SEC filed a civil enforcement action against Michael J. M. B. M. and M. J. M. Capital, LLC for misappropriating investor funds to pay for personal luxury expenses.
The SEC charged Michael J. M. B. M. and his firm, M. J. M. Capital, LLC, with violating Sections 10(b) and 15(c) of the Securities Exchange Act of 1934. The defendants allegedly misappropriated investor funds to finance personal luxuries such as real estate, travel, and luxury vehicles. The litigation seeks approximately $1.2 million in disgorgement plus interest and civil penalties.
The U.S. Securities and Exchange Commission filed a civil enforcement action against former financial advisor Michael J. M. B. M. and his firm, M. J. M. Capital, LLC. The defendants orchestrated a multi-year scheme to misappropriate investor funds for personal use, including luxury vehicles, real estate, and travel. To conceal the theft, they fabricated account statements and falsified investment performance data. The SEC charged the parties with violations of the Securities Exchange Act of 1934 and Rule 10b-5. The enforcement action seeks $1.2 million in disgorgement of ill-gotten gains, along with prejudgment interest and civil penalties. The case was filed in the U.S. District Court for the Southern District of New York to ensure a cease-and-desist from further violations.
Extracted insights
- Case 1:17-cv-07793 filed 10/11/17
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