#patrick avakian

[musiquesmodernes]

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[tuppencetrinkets]

Sorted screencaps from The Boys, S1-3. Found HERE.

A-Train / Jessie T. Usher #16,800

Actress (Stormfront) - Charlize Theron #500

Adam Bourke - P.J. Byrne #1,370

Alastair Adana - Goran Visnjic #1,800

Also Ashley - Sabrina Saudin #900

Anika - Ana Sani #1,300

Annie January / Starlighter - Erin Moriarty  #78,000

Ashley Barrett - Colby Minifie #14,700

Becca Butcher - Shantel Van Santen  #7,800

Billy Butcher - Karl Urban #64,800

Black Noir - Nathan Mitchell #183

Blue Hawk - Nick Wechsler #1,600

Cameron Coleman - Matthew Edison #1,300

Carol Manning - Jessica Hecht #915

Cassandra - Katy Breier #3,500

Cherie - Jordana Lajoie  #1,000

Connie Butcher - Lesley Nicol  #248

Crimson Countess - Laurie Holden  #1,700

Donna January - Ann Cusack  #3,200

Eagle the Archer - Langston Kerman  #1,400

Elena - Nicola Coccia-Damude  #2,900

Ezekiel - Shaun Benson  #1,000

Frenchie -  Tomer Capone  #30,000

Gecko - David W. Thompson #357

Grace Mallory - Laila Robins  #7,500

Gunpowder - Sean Patrick Flanery / Joel Gagne #950

Homelander - Antony Starr #80,000

Hugh Campbell - Simon Pegg #1,300

Hughie Campbell - Jack Quaid  #82,800

Janine - Liyou Abere / Nalini Ingrita #1,300

Jonah Vogelbaum - John Doman #1,500

Judy Atkinson - Barbara Gordon #400

Kenji Miyashiro / Mouse - Abraham Lim #1,800

Kevin Moskowitz / The Deep - Chace Crawford #22,174

Kimiko Miyashiro - Karen Fukuhara #20,000

Lamplighter - Shawn Ashmore #4,300

Lenny Butcher - Jack Fulton #800

Little Nina - Katia Winter #2,200

Madelyn Stillwell - Elisabeth Shue #12,400

Maggie Shaw / Maeve - Dominique McElligott #23,600

Mesmer - Haley Joel Osment / Aram Avakian #3,700

Mindstorm - Ryan Blakely #411

Monique - Frances Turner / Alvina August #1,500

Mother’s Milk - Laz Alonso #25,000

Nathan - Christian Keyes #2,500

Popclaw - Brittany Allen #3,300

Robert Singer - Jim Beaver #1,800

Robin - Jess Salgueiro #800

Ryan - Cameron Crovetti #8,000

Sam Butcher - John Noble #500

Soldier Boy - Jensen Ackles #8,900

Stan Edgar - Giancarlo Esposito #6,400

Stormfront - Aya Cash #15,400

Supersonic - Miles Gaston Villanueva #3,400

Susan Raynor - Jennifer Esposito #2,900

Tessa (TNT) - Kristin Booth #600

The Legend - Paul Reiser #1,800

Todd - Matthew Gorman #1,200

Tommy (TNT) - Jack Doolan #600

Translucent - Alex Hassell #800

Victoria Neuman -  Claudia Doumit #7,500

Young Butcher - Luca Villacis / Josh Zaharia #300

Young Lenny - Bruno Rudolf #800

Young Mallory - Sarah Swire #1,600

Young Nadia - Elisa Paszt #200

Young Sam Butcher - Brendan Murray #150

Young Stan Edgar - Justin Davis #800

Young Starlight - Maya Misaljevic #500

This content is free for anyone to use or edit however you like; if you care to throw a dollar or two my way for time, effort, storage fees etc you are more than welcome to do so via my PAYPAL.  Please like or reblog this post if you have found it useful or are downloading the content within.  If you have any questions or you have any problems with the links or find any inconsistencies in the content, etc. please feel free to drop me a politely worded message via my ASKBOX (second icon from the top on my theme!)  

[armeniaitn]

ARS Western US Contributes $125,000 to Lebanon Aid Effort

New Post has been published on https://armenia.in-the.news/society/ars-western-us-contributes-125000-to-lebanon-aid-effort-51403-19-08-2020/

ARS Western US Contributes $125,000 to Lebanon Aid Effort

Armenian Relief Society

Ten days ago, the ARS of Western USA, Regional Executive Board released a heartfelt call to action to its members and the community at large to extend a helping hand to Lebanese Armenians affected by the devastating explosion on August 4, 2020.

The ARS Regional Executive Board would like to extend its sincere appreciation and deepest gratitude to ARS chapters, members, and individual donors, who joined in our call to action and made generous donations to benefit the Emergency Appeal for Lebanon. As such, the region’s total contributions to this cause increased to over $125,000, which will be sent to the Armenian Relief Cross of Lebanon through the ARS Central Executive.

Donations continue to be collected and can be made online  by marking Lebanon Disaster Aid. Checks payable to ARS can be mailed to the ARS Regional Headquarters, located at 517 W. Glenoaks Blvd., Glendale, CA 91202. Tel. (818) 500-1343.

Below is the List of ARS-WUSA Donations for Emergency Appeal for Lebanon

ARS Agnouni Chapter Araxie Arzoumanian $1,000 Kohar Enemark $300 Vera Kambourian $250 Mariam Hovsepian $250 Betty Momjian $200 Satenik Harutyunyan $200 Aline Charekian $150 Vera Moroyan $100 Sarine Chanian $100 Takoush Chanchanian $100 Anna Tonoyan $100 Meline Mekhjian $50 Lernig Hovasapian $30 Alenoosh Hovasapian $25 Asanet Abnoosian $25 Jasmin Khodaverdian $25 ARS Anahid Chapter $1,500 Vahe Soghomonian $1,000 Anahid Chapter Executive Board $500 Annie Guiragossian and Hermine Belikian $500 Alice Tchamkertenian $500 Anonymous $500 George Titiziian $500 Haigaz Boyajian $300 Annie and Charles Sloan $300 Ampartsum H. Semirjyan $300 Sarkis and Mary Kratyan $300 Hovig and Shake Seysyan $300 Shake Hagopian $300 Lary and Zabel Tchamkertenian $250 Hovik & Marine Shahinian $250 Sona and Zeron Titizian $200 Sona Bostanian $200 Zohrab and Tania Bostanian $200 Vartan and Haigouhi Ajemian $200 Arax Khanbabian $200 Tivol Kalaydjian $200 Annie Buchakjian $200 Seta Krikorian $200 Mary Gedikian $200 Jack and Shake Tokatlian $200 Anonymous $200 Setrag Boyajian $200 Marie and Levon Arabian $200 Ani Malwajian $200 Serop and Tamar Torosian $200 Hagop Khacherian $150 Araxi Kazandjian $150 Sossi Poladian $150 Dirouhi Melikian $110 Mary Robert Leang $100 Seta Raphaelian $100 Mako Mgrdichian $100 Vartkes and Armenouhi Tomassian $100 Jackline Sarkissian $100 Andrea E Jellinek $100 Armand and Shoushan Hayrabedian $100 Sirarpi Kouyoumdjian $ 100 Sossi Nazarian $100 Jeannine Topalian Alkeine $100 Shake Arevian $100 Annie Kechichian $100 Varoujean Deirmenjian $100 Victorian Manougian $100 Angel Gabrielian $100 Georgette Kradjian $100 Jackie Kevork $100 Irma Soykurt $100 Ankine Agopian $100 Salpi Alian $100 Sonia Daghlarian $100 Louise Chitilian $100 Maro Papazian $100 Azaduhi Pilibosyan $100 Abahit Balyan $100 Cholakian Hasmik $100 Rosi Agopian $100 Mary Karamardian $50 Ishkhan Topalian $50 Mary Kiraz $50 Hripsime Ajamian $50 Arpie Atchabahian $50 Zabel Boyajian $50 Anahit Avetisyan $50 Vardul Kachakchein $50 Sarkis Torosian $50 Annie Anhmias $50 Tamar Dimitrov $50 Kasparian Berjouhi $50 Hovannes Varjabedian $40 Julia Sakratyan $40 Vartkes Boyajian $30 Vartan Kouyoumjian $30 Arsine Shahmelikian $20 ARS Ararat Chapter $1,050 Anonymous $100 ARS Araz Chapter Harout and Vicky Marashlian $5,000 Nazareth Nazaretian $1,000 Silva Batikian $500 Annie Chalian $500 Simon G. $500 Jack and Haikouhie Srourian $500 Marie Babikian $300 Armine Koundakjian $300 Karo and Marie Demirdjian $300 Ayda Sarkissian $200 Houri and Keghani Tavitian $200 Rima Karapetyan $200 Pakrouhi Karchikian $200 Silva Melkonyan $200 Anonymous $200 Card Group $200 Mari Zanazanian $200 Sylva Kajougjian $200 Diana Artounian $200 Aghavni Khachadourian $100 Mariam Karapetian $100 Lucy Markarian $100 Ani Tachdjian $100 Anjel Hagopian $100 Mary Karapetian $100 Manoush Kechkarian $100 Jeanine Boudakian $100 Nanik Kupelian $100 Jasmen Olmesekian $100 Hrach Shahbazian $100 Maro Hovhanesian $100 Seda Ter Hovanisian $100 Maro Chalian Read $100 Zara Magpapian $100 Anna’s Secret Garden $100 Helen Shahbazian $50 Vartoug Hovsepian $50 Salpy Tekkelian Hagopian $50 ARS Erepouni Chapter $1,000 Rita Baghdassarian $1,000 Vache and Taleen Shirikian $200 Samuel and Arpinee Alikian $200 Hasmig Kozanian $200 Nora Shirikian $100 George and Mary Atashkarian $100 Archie and Nelli Azizian $100 Armine Gabrielyan $100 Regina Garabedian $100 Susanna Hayrapetyan $100 Gloria Kasparian $100 Seta Shirikian $100 ARS Garin Chapter $1,000 Garo and Aida Mirigian $500 Annig Zindarsian $250 Nairi Samurkashian $100 Anahid Chakalian $100 Leo Donian $100 Charlene Garabedian $100 ARS Gars Chapter Members $3,000 Marine Andonian Zela Apelian Esther Berberian Sona Chopurian Sylva Hussenjian Nirva Kamarian Rita Kaprielian Houri Kasabian Silva Marounian Zarmig Marounian Valentine Sarafian Helga Sarkis Kohar Shnorhokian Diana Tcherkezian Sandy Tommassian Sona Vartanian Jack and Zarig Yuredjian (Gars Member) $5,000 Sirvart Pilosyan $1,000 Carmen Libaridian $500 Irene Boudakian $500 ARS Karni Chapter Virginia and Clark Rhodes $1,000 Sima and Hampar Karageozian $500 Gassia Apkarian and Tim Jemal $500 Aram Tanielian $500 Haygoush Kalinian $350 Adik Tatavoosian $300 Maral Kalinian $300 Nina and Mihran Mihranian $300 Garo and Maral Mardirossian $300 Maral and Alec Andekian $250 Araxy Aykanian $200 Lina and Nick Tufenkjian $200 Nora and Michael Mikail$200 Sara Sewell $200 Anita and George Hayek $150 Shaki and Nishan Ohanian $100 Anita and Patrick Jacobi $100 Rima Mushkafe $100 Nevart Balkan $100 Seta and Ani Mirzaian $100 Emre and Sarelle Demokan $100 Mary and Astor Tufenkjian $100 Aram Malakian $50 Maro Peterseil $50 ARS Lori Chapter Kristina Montana Kaladjian $1,000 Gems Are Forever (Zareh Boyadjian) $500 LoadQuest Inc. $500 Natalie Gulezian $300 Souren Kouyoumdjian $250 Hovik Shahinian $250 Krikor and Arsho Avakian $200 Narine Babikian $200 Maral Bastilan $200 Kuda Tchakian $200 Souzy Seropian $200 Stepan Altibarmakian $200 Maro Altibarmakian $200 Aznif Zorian $200 Vartoug Kouyoumdjian $100 Aida Hodikian $100 Agavni Godigian $100 Daniela Sahabian $100 Suzy Kalanjian $100 Nora Mazmanian $100 Mike Tavitian $100 Anahid Azaian $100 Robyn Schreiber $100 Narineh Kalanjian $100 Vart Terterian$100 Zvig Guedikian $100 Diana Baronian $100 Marlen Mouchmouchian $100 Koko Mouchmouchian $100 John Mouchmouchian $100 Ani Mouchmouchian $100 Jack Artinian $100 Garine Gendoyan $100 Suzie Tatiossian $100 Maggie Mahseredjian $100 Ivy Kardashian $100 Linda Silverman $100 Alise Asadurian $100 Suzie and Allen Ines $100 Kevork Kevin Artinian $100 Joanie Patersel $100 Marie Jean Baboyan $100 Yervant Oundjian $100 Marie Oundjian $100 Nora Oundjian $100 Haigo Barsamian $100 Tina Bederian $100 Lara Titizian $50 Houri Seropian $50 Lara Der Manuelian $40 Melanie Seraydarian $30 Vicki Berry $20 ARS Maro Chapter $2,000 ARS Fresno Mayr Chapter $3,000 Serpouhie Messerlian $1,000 Randy and Mary Baloian $200 Vahaken Arslanian $200 Norman and Sonia Preston $150 Ron and Barbara Mortanian $100 Edward Mkrtichian $100 Pat Sevoian $100 Mary Ekmalian $100 Patty Torosian $25 ARS Hollywood Mayr Chapter $1,000 Koko and Hermine Kevorkian $1,000 Kristine Keshishian $500 Maggie Sarkouni $300 Anahid Chekherdemian $100 Chake Mardirossian $100 Alvart Barseghian $100 Lisa Ekmekjian $100 Sona Kasbarian $100 Arouiag Yaralian $100 Rose Soukyssian $100 Sonia Peltekian $100 Anonymous $100 Haygouhi Seropian $100 Jacklin Boyadjian $100 Lisa Manougian $100 Ovsann Kekloukian $100 Hripsime Ajemian$100 Alice Yeghyayian $50 ARS Meghry Chapter $620 Silva Andonian $250 Maro Maadanian $200 Maral Benarbashian $100 Maro Kaloustian $100 Hermo Haddad $100 Arsho Guemeksizian $100 Seta Tarpinian $100 Arda Ayvazian $100 Berjouhi Zomjian $100 Arpi Tateossian $100 Dirouhi Grboyan $100 Elo Sarkissian $100 Sona Chalkian $80 Azniv Tarkhanian $50 Silva Markarian $50 Maro Basmajian $50 Nora Baronian $50 Ani Kambourian $50 Hasmig Aprahamian $50 Talin Titizian $50 ARS Nairy Chapter $2,000 Roubina and Salpy Pakradouni $1,000 Dikranouhi Markarian $1,000 Vartan and Sona Fundukian $500 Sosse Gabriel $500 Leone Mooradian $200 Elizabeth Khandjian $200 Nevart Mooradian $150 Lucy Yaghoubian $150 Takouhi Simonian $100 Zepure Simonian $100 Khatoune Pakradouni $100 ARS Roubina Chapter $500 ARS Sepan Chapter Ani Simonian (American Savings Financial Services) $1,001 Yoland Melik-Hovsepian Living Trust $1,000 Armag Oil #6 Inc. $1,000 Campbell Family Trust – Arpi$1,000 Vahe and Priscilla Soghomonian (All Valley Dealer Auto Auction) $1,000 Shakeh Setrakian $700 Anna Arutunyan and Family $540 Asdghig Tejirian $500 Vegen W. Badalian $500 Alfred Rima Boghossian Family Trust $500 Partev Peter and Arik Panossian $500 Raffi Goekjian $500 Soosan LLC $500 Rima and Edward Manookian $500 Garo and Maco Setrakian $300 Lusine Melikian$300 Madlen Simonian $250 Armine Aslan $250 Anoush Stamboulian $250 Sona Simonian $200 Danise Batotian $200 Maral and Verginie Touloumian $200 Mardiros and Eugenie Aroyan $200 Azniv Papirian $200 Maro Jalian $200 Varand and Christine Hovnanian $200 Sevan Khachaturian and Aigin Kalaby $200 Jasik Jarahian $200 Varoush and Selbi Hacopians $150 Vartan and Mariam Sarkissian $150 Fashion Tailoring $150 Serop and Marie Arabian $150 Alice Bedrossian $150 Arevalous Bedrossian $150 Vartiter Nersesian $150 Asdghig Chitilian $150 Sonik Aghazarian $150 Asdghik and Vanik Hovasapian $100 Sirarpi Karamanoukian $100 Rouben’s Union 76 $100 Angelica and Felix Perez  $100 Roobina Navasanian $100 Chake and Hartyoon Soghomonian $100 Rosa Hovanissian $100 Rebecca Kalachian $100 Hasmik Iskanian $100 Alice Babakhanian $100 Shante and Razmig Koulloukian $100 Nora Simonian $100 Sosie Arakelian $100 Peggy Simonian $100 Sirouhi Janoian $100 Arlette Eshraghi $100 Shake Kasabian $100 Ani Eskandarian (Real Estate & Financing Pros) $100 Astkhig M Garabedian $100 Eugene Hovsepian $100 Anoush Yaridjanian $100 Mary B Shakibtash $100 Rema and Seroj Bandarian $100 George and Mariam Bandarian$ 100 Roubin and Zaghik Gourjian $100 Anoosh and Norair Avakian $100 Alice Abaklian $60 Razmik Navassanian $50 Kenarig Avedisian $50 Nora Corbet $50 Janet Zakarian$50 Aida Galustian $50 Araksi Shahinian $50 Jirair and Takouhi Hovasapian $50 Vartan Papirian $50 Alice Gaffney $50 Rozan Simonian $50 Katia and Vardui Kusherian $50 ARS Sevan Chapter $1,000 Fr. Datev and Yeretsgin Haygan Kaloustian $500 Hagop and Angela Parseghian $200 ARS Shogher Chapter $1,000 ARS Shoushi Chapter $5,000 ARS Sophia Chapter $1,000 Alice Abrahamian $100 Sossie Djabrayan $100 Vera Hamamjian $100 Varduhi Petrosyan $100 Larissa Asadourian $50 ARS Sosse Chapter $1,000 ARS Talin Chapter Meher and Roubina Kahdian $1,300 Gabriel Izanian $1,000 Custom Probiotic, Inc. $1,000 Iceberg Heating and Air Conditioning $1,000 Vahik and Helen Msrkhani $1,000 Gary and Shakeh Gagossian $540 Ari Rosenblatt $500 Alan Abramson $500 Charles and Mary Matthews $500 Peter and Sevana Minaskanian $400 Goldner Trust Fund $360 Brian Bell $300 Sona Magdousian $300 Mr. Dryclean $300 David Douek $260 Il Pastaio Restorante & Bar $250 Louisa Gourjian $250 Moses and Hasmig Panossian $200 Hagop Sepetjian $200 Hermine Aposhian $200 Siroun Darakjian $200 Kevork and Liza Santikian $200 Mher and Maria Panossian $200 Haroutioun and Lucine Yeghikian $200 Emma Garabedian $200 Aquatron $200 Ani Bairiam $200 Aram and Lena Bekarian $150 Jacob Matthews $130 Bedros Yeghyaian $115 GeorgeMahroukian $115 Karnig Levonian $115 Sarkis Habibian $115 Leonig Shekherdimian $100 Anna Boghossian $100 Thomas and Nevair Thomassian $100 Stuarts Clothiery LLC $100 Modern Electrical Services $100 Shoghig Gagossian $100 Daniel and Talar Sarkissian $100 Zaven and Marie Kalustian$ 100 Thomas and Arpy Tokmajian $100 Koko and Lusin Krumian $100 Aghavni Astoor $100 Silva Takavorian $100 Mayda Keledjian $100 Hagop Keledjian $100 Carla Barsemian $100 Varsenik Jerejian $100 Suzanne Demerdjian $75 Dickran and Marina Der Sarkissian $50 Hagop and Silva Hovsepian $50 Sossie Manjerian $50 Varsik Khadjhumyan $50 Kesab Educational Association $2,500 Jack & Astineh Megerditchian $100 Individual Donors Mark Markarian $1,000 Meghrie and Karnie Babikian $1,000 Viken Peltekian $1,000 George Mekhtarian $500 Garbis and Silva Baghdasarian$500 Hagop Panossian$500 Onik and Rita Cherchian $200 Salpie Basmadjian $200 Ani Garabedian $200 Shakeh Siyahian $200 Stephanie Pezeshkian $200 Hrair and Silva Jabagchourian $200 Ohannes Megerdichian $200 Vergine Zobian$200 Manuel Gharapetian $200 Harout and Lena Hovasapian $200 Arlene Alpian $200 Ani Dikranian $150 Rosik Asadourian $100 Beatrice Savadian $100 Annik Minasaganian $100 Krikor Ailanjian $100 Lousi Dakessian $100 Krikor Kevorkian $100 Vartan Deirdeirian $100 Don Schmidt $100 Erik Schockman $100 Shant Tarpinian $100 Eliz Semerjian $100 Vartan and Haygoush Kaptanyan$100 Roubina Begoumian $100 Dr. Mkhitar Mouradian $100 Seda Gharapetian $100 Susan Berberian $50 Melinee Manjikian $50 Victoria Sevdayan $50 Berjui Belorian $50 Allen Manuelian $50 Choghik Dokouzlian $50 Seta Manachian $50 Seda Harutunian $50 Arpi Kurdoghlian $35 Deeown Shaverdian $20 Saffa Shabar $10 TOTAL $134,131

Read original article here.

[annestach]

Lawyer for SEC Charges

The Securities and Exchange Commission filed fraud charges against a Virginia-based mechanical engineer accused of scheming to manipulate the price of Fitbit stock by making a phony regulatory filing. As a Securities Lawyer, I’ve seen these before. According to the SEC’s complaint, Robert W. Murray purchased Fitbit call options just minutes before a fake tender offer that he orchestrated was filed on the SEC’s EDGAR system purporting that a company named ABM Capital LTD sought to acquire Fitbit’s outstanding shares at a substantial premium. Fitbit’s stock price temporarily spiked when the tender offer became publicly available on Nov. 10, 2016, and Murray sold all of his options for a profit of approximately $3,100.

The SEC alleges that Murray created an email account under the name of someone he found on the internet, and the email account was used to gain access to the EDGAR system. Murray then allegedly listed that person as the CFO of ABM Capital and used a business address associated with that person in the fake filing. The SEC also alleges that Murray attempted to conceal his identity and actual location at the time of the filing after conducting research into prior SEC cases that highlighted the IP addresses the false filers used to submit forms on EDGAR. According to the SEC’s complaint, it appeared as though the system was being accessed from a different state by using an IP address registered to a company located in Napa, California.

“As alleged in our complaint, Murray used deceptive techniques in a concerted effort to evade detection, but we were able to connect the dots quickly and hold him accountable,” said Stephanie Avakian, Acting Director of the SEC Enforcement Division. In a parallel action, the U.S. Attorney’s Office has also announced criminal charges against Murray.

The SEC’s complaint charges Murray with violating antifraud provisions of the federal securities laws, including Section 17(a) of the Securities Act of 1933 and Sections 10(b) and 14(e) of the Securities Exchange Act of 1934, and Rules 10b-5 and 14e-8.

The SEC’s continuing investigation is being conducted by David W. Snyder, Assunta Vivolo, Kelly L. Gibson, and Patrick A. McCluskey in the Market Abuse Unit in Philadelphia. The case is being supervised by unit co-chiefs Robert A. Cohen and Joseph G. Sansone. The litigation will be led by Julia C. Green and Christopher R. Kelly of the Philadelphia office. The SEC appreciates the assistance of the U.S. Attorney’s Office at Utah and the U.S. Postal Inspection Service.

Accounting Fraud Charges

The Securities and Exchange Commission has announced that a South Korea-based semiconductor manufacturer and its former CFO have agreed to settle charges related to an accounting scheme to artificially boost revenue and manipulate the financial results reported to investors.

The SEC’s order finds that MagnaChip Semiconductor Corp. overstated revenues for nearly two years in response to immense pressure placed on employees each quarter to meet revenue and gross margin targets that had been communicated to the public. Then-CFO Margaret Sakai directed or approved several fraudulent accounting practices to make it falsely appear the company had met those targets. For example, MagnaChip recognized revenue on sales of incomplete or unshipped products, and the company delayed booking obsolete or aged inventory to manipulate its reported gross margin. MagnaChip also engaged in roundtrip transactions to manipulate accounts receivable balances, and concealed from auditors that there were side agreements with distributors to induce them to accept products early.

“MagnaChip engaged in a panoply of accounting tricks to artificially meet its financial targets,” said Jina L. Choi, Director of the SEC’s San Francisco Regional Office. “Companies that sell stock in the U.S. markets should prioritize a robust accounting culture that is entirely truthful with investors.”

Without admitting or denying the findings in the SEC’s order, MagnaChip agreed to pay a $3 million penalty and Sakai agreed to pay a $135,000 penalty. Sakai also agreed to be barred from serving as an officer or director of a public company and from appearing or practicing before the SEC as an accountant, which includes not participating in the financial reporting or audits of public companies. The SEC’s investigation has been conducted by Justin M. Lichterman and Michael D. Foley of the San Francisco office, and supervised by Steven D. Buchholz.

The Securities and Exchange Commission has announced that a New Jersey-based firm and its CEO have agreed to pay more than $4 million to settle charges that they used new investor money to repay earlier investors in Ponzi-like fashion and tapped investor funds for the CEO’s personal use.

According to the SEC’s complaint, Verto Capital Management and William Schantz III raised approximately $12.5 million selling promissory notes to purportedly fund Verto Capital’s purchase and sale of life settlements, which are life insurance policies sold in the secondary market. The SEC alleges that they misrepresented to investors that Verto Capital was a profitable company and investor funds would be used for general working capital purposes. Verto Capital and other Schantz businesses had been unprofitable for several years, according to the SEC’s complaint, and Schantz resorted to taking disproportionately large distributions of investor funds for himself and using new investor money to repay earlier investors.

Verto Capital and Schantz also allegedly made misrepresentations to investors about the safety of the notes and collateral underlying them. The SEC alleges that the promissory notes were primarily sold through a group of insurance brokers in Texas, and religious investors were targeted.

“As alleged in our complaint, investors were told that the life settlement-backed notes were short-term investments with an unlikely event of default. Schantz and Verto misled investors about the company’s past performance and the value of the collateral, and they diverted significant investor funds for Schantz’s personal use,” said Andrew M. Calamari.

A Fair Fund will be created to return money collected in the settlement to harmed investors. Schantz and Verto Capital agreed to pay disgorgement of $3,433,666 plus interest of $124,851 and a penalty of $600,000. Without admitting or denying the allegations, they consented to permanent injunctions against further violations of Section 17(a)(2) and (3) and Section 5 of the Securities Act of 1933. Schantz further agreed to be enjoined from selling any promissory notes. The settlement is subject to court approval.

SEC Lawyer Free Consultation

If you’ve been charged by the SEC, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

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[armeniaitn]

ARS Western US Contributes $125,000 to Lebanon Aid Effort

New Post has been published on https://armenia.in-the.news/society/ars-western-us-contributes-125000-to-lebanon-aid-effort-51631-19-08-2020/

ARS Western US Contributes $125,000 to Lebanon Aid Effort

Armenian Relief Society

Ten days ago, the ARS of Western USA, Regional Executive Board released a heartfelt call to action to its members and the community at large to extend a helping hand to Lebanese Armenians affected by the devastating explosion on August 4, 2020.

The ARS Regional Executive Board would like to extend its sincere appreciation and deepest gratitude to ARS chapters, members, and individual donors, who joined in our call to action and made generous donations to benefit the Emergency Appeal for Lebanon. As such, the region’s total contributions to this cause increased to over $125,000, which will be sent to the Armenian Relief Cross of Lebanon through the ARS Central Executive.

Donations continue to be collected and can be made online  by marking Lebanon Disaster Aid. Checks payable to ARS can be mailed to the ARS Regional Headquarters, located at 517 W. Glenoaks Blvd., Glendale, CA 91202. Tel. (818) 500-1343.

Below is the List of ARS-WUSA Donations for Emergency Appeal for Lebanon

ARS Agnouni Chapter Araxie Arzoumanian $1,000 Kohar Enemark $300 Vera Kambourian $250 Mariam Hovsepian $250 Betty Momjian $200 Satenik Harutyunyan $200 Aline Charekian $150 Vera Moroyan $100 Sarine Chanian $100 Takoush Chanchanian $100 Anna Tonoyan $100 Meline Mekhjian $50 Lernig Hovasapian $30 Alenoosh Hovasapian $25 Asanet Abnoosian $25 Jasmin Khodaverdian $25 ARS Anahid Chapter $1,500 Vahe Soghomonian $1,000 Anahid Chapter Executive Board $500 Annie Guiragossian and Hermine Belikian $500 Alice Tchamkertenian $500 Anonymous $500 George Titiziian $500 Haigaz Boyajian $300 Annie and Charles Sloan $300 Ampartsum H. Semirjyan $300 Sarkis and Mary Kratyan $300 Hovig and Shake Seysyan $300 Shake Hagopian $300 Lary and Zabel Tchamkertenian $250 Hovik & Marine Shahinian $250 Sona and Zeron Titizian $200 Sona Bostanian $200 Zohrab and Tania Bostanian $200 Vartan and Haigouhi Ajemian $200 Arax Khanbabian $200 Tivol Kalaydjian $200 Annie Buchakjian $200 Seta Krikorian $200 Mary Gedikian $200 Jack and Shake Tokatlian $200 Anonymous $200 Setrag Boyajian $200 Marie and Levon Arabian $200 Ani Malwajian $200 Serop and Tamar Torosian $200 Hagop Khacherian $150 Araxi Kazandjian $150 Sossi Poladian $150 Dirouhi Melikian $110 Mary Robert Leang $100 Seta Raphaelian $100 Mako Mgrdichian $100 Vartkes and Armenouhi Tomassian $100 Jackline Sarkissian $100 Andrea E Jellinek $100 Armand and Shoushan Hayrabedian $100 Sirarpi Kouyoumdjian $ 100 Sossi Nazarian $100 Jeannine Topalian Alkeine $100 Shake Arevian $100 Annie Kechichian $100 Varoujean Deirmenjian $100 Victorian Manougian $100 Angel Gabrielian $100 Georgette Kradjian $100 Jackie Kevork $100 Irma Soykurt $100 Ankine Agopian $100 Salpi Alian $100 Sonia Daghlarian $100 Louise Chitilian $100 Maro Papazian $100 Azaduhi Pilibosyan $100 Abahit Balyan $100 Cholakian Hasmik $100 Rosi Agopian $100 Mary Karamardian $50 Ishkhan Topalian $50 Mary Kiraz $50 Hripsime Ajamian $50 Arpie Atchabahian $50 Zabel Boyajian $50 Anahit Avetisyan $50 Vardul Kachakchein $50 Sarkis Torosian $50 Annie Anhmias $50 Tamar Dimitrov $50 Kasparian Berjouhi $50 Hovannes Varjabedian $40 Julia Sakratyan $40 Vartkes Boyajian $30 Vartan Kouyoumjian $30 Arsine Shahmelikian $20 ARS Ararat Chapter $1,050 Anonymous $100 ARS Araz Chapter Harout and Vicky Marashlian $5,000 Nazareth Nazaretian $1,000 Silva Batikian $500 Annie Chalian $500 Simon G. $500 Jack and Haikouhie Srourian $500 Marie Babikian $300 Armine Koundakjian $300 Karo and Marie Demirdjian $300 Ayda Sarkissian $200 Houri and Keghani Tavitian $200 Rima Karapetyan $200 Pakrouhi Karchikian $200 Silva Melkonyan $200 Anonymous $200 Card Group $200 Mari Zanazanian $200 Sylva Kajougjian $200 Diana Artounian $200 Aghavni Khachadourian $100 Mariam Karapetian $100 Lucy Markarian $100 Ani Tachdjian $100 Anjel Hagopian $100 Mary Karapetian $100 Manoush Kechkarian $100 Jeanine Boudakian $100 Nanik Kupelian $100 Jasmen Olmesekian $100 Hrach Shahbazian $100 Maro Hovhanesian $100 Seda Ter Hovanisian $100 Maro Chalian Read $100 Zara Magpapian $100 Anna’s Secret Garden $100 Helen Shahbazian $50 Vartoug Hovsepian $50 Salpy Tekkelian Hagopian $50 ARS Erepouni Chapter $1,000 Rita Baghdassarian $1,000 Vache and Taleen Shirikian $200 Samuel and Arpinee Alikian $200 Hasmig Kozanian $200 Nora Shirikian $100 George and Mary Atashkarian $100 Archie and Nelli Azizian $100 Armine Gabrielyan $100 Regina Garabedian $100 Susanna Hayrapetyan $100 Gloria Kasparian $100 Seta Shirikian $100 ARS Garin Chapter $1,000 Garo and Aida Mirigian $500 Annig Zindarsian $250 Nairi Samurkashian $100 Anahid Chakalian $100 Leo Donian $100 Charlene Garabedian $100 ARS Gars Chapter Members $3,000 Marine Andonian Zela Apelian Esther Berberian Sona Chopurian Sylva Hussenjian Nirva Kamarian Rita Kaprielian Houri Kasabian Silva Marounian Zarmig Marounian Valentine Sarafian Helga Sarkis Kohar Shnorhokian Diana Tcherkezian Sandy Tommassian Sona Vartanian Jack and Zarig Yuredjian (Gars Member) $5,000 Sirvart Pilosyan $1,000 Carmen Libaridian $500 Irene Boudakian $500 ARS Karni Chapter Virginia and Clark Rhodes $1,000 Sima and Hampar Karageozian $500 Gassia Apkarian and Tim Jemal $500 Aram Tanielian $500 Haygoush Kalinian $350 Adik Tatavoosian $300 Maral Kalinian $300 Nina and Mihran Mihranian $300 Garo and Maral Mardirossian $300 Maral and Alec Andekian $250 Araxy Aykanian $200 Lina and Nick Tufenkjian $200 Nora and Michael Mikail$200 Sara Sewell $200 Anita and George Hayek $150 Shaki and Nishan Ohanian $100 Anita and Patrick Jacobi $100 Rima Mushkafe $100 Nevart Balkan $100 Seta and Ani Mirzaian $100 Emre and Sarelle Demokan $100 Mary and Astor Tufenkjian $100 Aram Malakian $50 Maro Peterseil $50 ARS Lori Chapter Kristina Montana Kaladjian $1,000 Gems Are Forever (Zareh Boyadjian) $500 LoadQuest Inc. $500 Natalie Gulezian $300 Souren Kouyoumdjian $250 Hovik Shahinian $250 Krikor and Arsho Avakian $200 Narine Babikian $200 Maral Bastilan $200 Kuda Tchakian $200 Souzy Seropian $200 Stepan Altibarmakian $200 Maro Altibarmakian $200 Aznif Zorian $200 Vartoug Kouyoumdjian $100 Aida Hodikian $100 Agavni Godigian $100 Daniela Sahabian $100 Suzy Kalanjian $100 Nora Mazmanian $100 Mike Tavitian $100 Anahid Azaian $100 Robyn Schreiber $100 Narineh Kalanjian $100 Vart Terterian$100 Zvig Guedikian $100 Diana Baronian $100 Marlen Mouchmouchian $100 Koko Mouchmouchian $100 John Mouchmouchian $100 Ani Mouchmouchian $100 Jack Artinian $100 Garine Gendoyan $100 Suzie Tatiossian $100 Maggie Mahseredjian $100 Ivy Kardashian $100 Linda Silverman $100 Alise Asadurian $100 Suzie and Allen Ines $100 Kevork Kevin Artinian $100 Joanie Patersel $100 Marie Jean Baboyan $100 Yervant Oundjian $100 Marie Oundjian $100 Nora Oundjian $100 Haigo Barsamian $100 Tina Bederian $100 Lara Titizian $50 Houri Seropian $50 Lara Der Manuelian $40 Melanie Seraydarian $30 Vicki Berry $20 ARS Maro Chapter $2,000 ARS Fresno Mayr Chapter $3,000 Serpouhie Messerlian $1,000 Randy and Mary Baloian $200 Vahaken Arslanian $200 Norman and Sonia Preston $150 Ron and Barbara Mortanian $100 Edward Mkrtichian $100 Pat Sevoian $100 Mary Ekmalian $100 Patty Torosian $25 ARS Hollywood Mayr Chapter $1,000 Koko and Hermine Kevorkian $1,000 Kristine Keshishian $500 Maggie Sarkouni $300 Anahid Chekherdemian $100 Chake Mardirossian $100 Alvart Barseghian $100 Lisa Ekmekjian $100 Sona Kasbarian $100 Arouiag Yaralian $100 Rose Soukyssian $100 Sonia Peltekian $100 Anonymous $100 Haygouhi Seropian $100 Jacklin Boyadjian $100 Lisa Manougian $100 Ovsann Kekloukian $100 Hripsime Ajemian$100 Alice Yeghyayian $50 ARS Meghry Chapter $620 Silva Andonian $250 Maro Maadanian $200 Maral Benarbashian $100 Maro Kaloustian $100 Hermo Haddad $100 Arsho Guemeksizian $100 Seta Tarpinian $100 Arda Ayvazian $100 Berjouhi Zomjian $100 Arpi Tateossian $100 Dirouhi Grboyan $100 Elo Sarkissian $100 Sona Chalkian $80 Azniv Tarkhanian $50 Silva Markarian $50 Maro Basmajian $50 Nora Baronian $50 Ani Kambourian $50 Hasmig Aprahamian $50 Talin Titizian $50 ARS Nairy Chapter $2,000 Roubina and Salpy Pakradouni $1,000 Dikranouhi Markarian $1,000 Vartan and Sona Fundukian $500 Sosse Gabriel $500 Leone Mooradian $200 Elizabeth Khandjian $200 Nevart Mooradian $150 Lucy Yaghoubian $150 Takouhi Simonian $100 Zepure Simonian $100 Khatoune Pakradouni $100 ARS Roubina Chapter $500 ARS Sepan Chapter Ani Simonian (American Savings Financial Services) $1,001 Yoland Melik-Hovsepian Living Trust $1,000 Armag Oil #6 Inc. $1,000 Campbell Family Trust – Arpi$1,000 Vahe and Priscilla Soghomonian (All Valley Dealer Auto Auction) $1,000 Shakeh Setrakian $700 Anna Arutunyan and Family $540 Asdghig Tejirian $500 Vegen W. Badalian $500 Alfred Rima Boghossian Family Trust $500 Partev Peter and Arik Panossian $500 Raffi Goekjian $500 Soosan LLC $500 Rima and Edward Manookian $500 Garo and Maco Setrakian $300 Lusine Melikian$300 Madlen Simonian $250 Armine Aslan $250 Anoush Stamboulian $250 Sona Simonian $200 Danise Batotian $200 Maral and Verginie Touloumian $200 Mardiros and Eugenie Aroyan $200 Azniv Papirian $200 Maro Jalian $200 Varand and Christine Hovnanian $200 Sevan Khachaturian and Aigin Kalaby $200 Jasik Jarahian $200 Varoush and Selbi Hacopians $150 Vartan and Mariam Sarkissian $150 Fashion Tailoring $150 Serop and Marie Arabian $150 Alice Bedrossian $150 Arevalous Bedrossian $150 Vartiter Nersesian $150 Asdghig Chitilian $150 Sonik Aghazarian $150 Asdghik and Vanik Hovasapian $100 Sirarpi Karamanoukian $100 Rouben’s Union 76 $100 Angelica and Felix Perez  $100 Roobina Navasanian $100 Chake and Hartyoon Soghomonian $100 Rosa Hovanissian $100 Rebecca Kalachian $100 Hasmik Iskanian $100 Alice Babakhanian $100 Shante and Razmig Koulloukian $100 Nora Simonian $100 Sosie Arakelian $100 Peggy Simonian $100 Sirouhi Janoian $100 Arlette Eshraghi $100 Shake Kasabian $100 Ani Eskandarian (Real Estate & Financing Pros) $100 Astkhig M Garabedian $100 Eugene Hovsepian $100 Anoush Yaridjanian $100 Mary B Shakibtash $100 Rema and Seroj Bandarian $100 George and Mariam Bandarian$ 100 Roubin and Zaghik Gourjian $100 Anoosh and Norair Avakian $100 Alice Abaklian $60 Razmik Navassanian $50 Kenarig Avedisian $50 Nora Corbet $50 Janet Zakarian$50 Aida Galustian $50 Araksi Shahinian $50 Jirair and Takouhi Hovasapian $50 Vartan Papirian $50 Alice Gaffney $50 Rozan Simonian $50 Katia and Vardui Kusherian $50 ARS Sevan Chapter $1,000 Fr. Datev and Yeretsgin Haygan Kaloustian $500 Hagop and Angela Parseghian $200 ARS Shogher Chapter $1,000 ARS Shoushi Chapter $5,000 ARS Sophia Chapter $1,000 Alice Abrahamian $100 Sossie Djabrayan $100 Vera Hamamjian $100 Varduhi Petrosyan $100 Larissa Asadourian $50 ARS Sosse Chapter $1,000 ARS Talin Chapter Meher and Roubina Kahdian $1,300 Gabriel Izanian $1,000 Custom Probiotic, Inc. $1,000 Iceberg Heating and Air Conditioning $1,000 Vahik and Helen Msrkhani $1,000 Gary and Shakeh Gagossian $540 Ari Rosenblatt $500 Alan Abramson $500 Charles and Mary Matthews $500 Peter and Sevana Minaskanian $400 Goldner Trust Fund $360 Brian Bell $300 Sona Magdousian $300 Mr. Dryclean $300 David Douek $260 Il Pastaio Restorante & Bar $250 Louisa Gourjian $250 Moses and Hasmig Panossian $200 Jack Sepetjian $200 Hagop Sepetjian $200 Hermine Aposhian $200 Siroun Darakjian $200 Kevork and Liza Santikian $200 Mher and Maria Panossian $200 Haroutioun and Lucine Yeghikian $200 Emma Garabedian $200 Aquatron $200 Ani Bairiam $200 Aram and Lena Bekarian $150 Jacob Matthews $130 Bedros Yeghyaian $115 GeorgeMahroukian $115 Karnig Levonian $115 Sarkis Habibian $115 Leonig Shekherdimian $100 Anna Boghossian $100 Thomas and Nevair Thomassian $100 Stuarts Clothiery LLC $100 Modern Electrical Services $100 Shoghig Gagossian $100 Daniel and Talar Sarkissian $100 Zaven and Marie Kalustian$ 100 Thomas and Arpy Tokmajian $100 Koko and Lusin Krumian $100 Aghavni Astoor $100 Silva Takavorian $100 Mayda Keledjian $100 Hagop Keledjian $100 Carla Barsemian $100 Varsenik Jerejian $100 Suzanne Demerdjian $75 Dickran and Marina Der Sarkissian $50 Hagop and Silva Hovsepian $50 Sossie Manjerian $50 Varsik Khadjhumyan $50 Kesab Educational Association $2,500 Jack & Astineh Megerditchian $100 Individual Donors Mark Markarian $1,000 Meghrie and Karnie Babikian $1,000 Viken Peltekian $1,000 George Mekhtarian $500 Garbis and Silva Baghdasarian$500 Hagop Panossian$500 Onik and Rita Cherchian $200 Salpie Basmadjian $200 Ani Garabedian $200 Shakeh Siyahian $200 Stephanie Pezeshkian $200 Hrair and Silva Jabagchourian $200 Ohannes Megerdichian $200 Vergine Zobian$200 Manuel Gharapetian $200 Harout and Lena Hovasapian $200 Arlene Alpian $200 Ani Dikranian $150 Rosik Asadourian $100 Beatrice Savadian $100 Annik Minasaganian $100 Krikor Ailanjian $100 Lousi Dakessian $100 Krikor Kevorkian $100 Vartan Deirdeirian $100 Don Schmidt $100 Erik Schockman $100 Shant Tarpinian $100 Eliz Semerjian $100 Vartan and Haygoush Kaptanyan$100 Roubina Begoumian $100 Dr. Mkhitar Mouradian $100 Seda Gharapetian $100 Susan Berberian $50 Melinee Manjikian $50 Victoria Sevdayan $50 Berjui Belorian $50 Allen Manuelian $50 Choghik Dokouzlian $50 Seta Manachian $50 Seda Harutunian $50 Arpi Kurdoghlian $35 Deeown Shaverdian $20 Saffa Shabar $10 TOTAL $134,131

Read original article here.

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Lawyer for SEC Charges

The Securities and Exchange Commission filed fraud charges against a Virginia-based mechanical engineer accused of scheming to manipulate the price of Fitbit stock by making a phony regulatory filing. As a Securities Lawyer, I’ve seen these before. According to the SEC’s complaint, Robert W. Murray purchased Fitbit call options just minutes before a fake tender offer that he orchestrated was filed on the SEC’s EDGAR system purporting that a company named ABM Capital LTD sought to acquire Fitbit’s outstanding shares at a substantial premium. Fitbit’s stock price temporarily spiked when the tender offer became publicly available on Nov. 10, 2016, and Murray sold all of his options for a profit of approximately $3,100.

The SEC alleges that Murray created an email account under the name of someone he found on the internet, and the email account was used to gain access to the EDGAR system. Murray then allegedly listed that person as the CFO of ABM Capital and used a business address associated with that person in the fake filing. The SEC also alleges that Murray attempted to conceal his identity and actual location at the time of the filing after conducting research into prior SEC cases that highlighted the IP addresses the false filers used to submit forms on EDGAR. According to the SEC’s complaint, it appeared as though the system was being accessed from a different state by using an IP address registered to a company located in Napa, California.

“As alleged in our complaint, Murray used deceptive techniques in a concerted effort to evade detection, but we were able to connect the dots quickly and hold him accountable,” said Stephanie Avakian, Acting Director of the SEC Enforcement Division. In a parallel action, the U.S. Attorney’s Office has also announced criminal charges against Murray.

The SEC’s complaint charges Murray with violating antifraud provisions of the federal securities laws, including Section 17(a) of the Securities Act of 1933 and Sections 10(b) and 14(e) of the Securities Exchange Act of 1934, and Rules 10b-5 and 14e-8.

The SEC’s continuing investigation is being conducted by David W. Snyder, Assunta Vivolo, Kelly L. Gibson, and Patrick A. McCluskey in the Market Abuse Unit in Philadelphia. The case is being supervised by unit co-chiefs Robert A. Cohen and Joseph G. Sansone. The litigation will be led by Julia C. Green and Christopher R. Kelly of the Philadelphia office. The SEC appreciates the assistance of the U.S. Attorney’s Office at Utah and the U.S. Postal Inspection Service.

Accounting Fraud Charges

The Securities and Exchange Commission has announced that a South Korea-based semiconductor manufacturer and its former CFO have agreed to settle charges related to an accounting scheme to artificially boost revenue and manipulate the financial results reported to investors.

The SEC’s order finds that MagnaChip Semiconductor Corp. overstated revenues for nearly two years in response to immense pressure placed on employees each quarter to meet revenue and gross margin targets that had been communicated to the public. Then-CFO Margaret Sakai directed or approved several fraudulent accounting practices to make it falsely appear the company had met those targets. For example, MagnaChip recognized revenue on sales of incomplete or unshipped products, and the company delayed booking obsolete or aged inventory to manipulate its reported gross margin. MagnaChip also engaged in roundtrip transactions to manipulate accounts receivable balances, and concealed from auditors that there were side agreements with distributors to induce them to accept products early.

“MagnaChip engaged in a panoply of accounting tricks to artificially meet its financial targets,” said Jina L. Choi, Director of the SEC’s San Francisco Regional Office. “Companies that sell stock in the U.S. markets should prioritize a robust accounting culture that is entirely truthful with investors.”

Without admitting or denying the findings in the SEC’s order, MagnaChip agreed to pay a $3 million penalty and Sakai agreed to pay a $135,000 penalty. Sakai also agreed to be barred from serving as an officer or director of a public company and from appearing or practicing before the SEC as an accountant, which includes not participating in the financial reporting or audits of public companies. The SEC’s investigation has been conducted by Justin M. Lichterman and Michael D. Foley of the San Francisco office, and supervised by Steven D. Buchholz.

The Securities and Exchange Commission has announced that a New Jersey-based firm and its CEO have agreed to pay more than $4 million to settle charges that they used new investor money to repay earlier investors in Ponzi-like fashion and tapped investor funds for the CEO’s personal use.

According to the SEC’s complaint, Verto Capital Management and William Schantz III raised approximately $12.5 million selling promissory notes to purportedly fund Verto Capital’s purchase and sale of life settlements, which are life insurance policies sold in the secondary market. The SEC alleges that they misrepresented to investors that Verto Capital was a profitable company and investor funds would be used for general working capital purposes. Verto Capital and other Schantz businesses had been unprofitable for several years, according to the SEC’s complaint, and Schantz resorted to taking disproportionately large distributions of investor funds for himself and using new investor money to repay earlier investors.

Verto Capital and Schantz also allegedly made misrepresentations to investors about the safety of the notes and collateral underlying them. The SEC alleges that the promissory notes were primarily sold through a group of insurance brokers in Texas, and religious investors were targeted.

“As alleged in our complaint, investors were told that the life settlement-backed notes were short-term investments with an unlikely event of default. Schantz and Verto misled investors about the company’s past performance and the value of the collateral, and they diverted significant investor funds for Schantz’s personal use,” said Andrew M. Calamari.

A Fair Fund will be created to return money collected in the settlement to harmed investors. Schantz and Verto Capital agreed to pay disgorgement of $3,433,666 plus interest of $124,851 and a penalty of $600,000. Without admitting or denying the allegations, they consented to permanent injunctions against further violations of Section 17(a)(2) and (3) and Section 5 of the Securities Act of 1933. Schantz further agreed to be enjoined from selling any promissory notes. The settlement is subject to court approval.

SEC Lawyer Free Consultation

If you’ve been charged by the SEC, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

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[divorcelawyergunnisonutah]

Lawyer for SEC Charges

The Securities and Exchange Commission filed fraud charges against a Virginia-based mechanical engineer accused of scheming to manipulate the price of Fitbit stock by making a phony regulatory filing. As a Securities Lawyer, I’ve seen these before. According to the SEC’s complaint, Robert W. Murray purchased Fitbit call options just minutes before a fake tender offer that he orchestrated was filed on the SEC’s EDGAR system purporting that a company named ABM Capital LTD sought to acquire Fitbit’s outstanding shares at a substantial premium. Fitbit’s stock price temporarily spiked when the tender offer became publicly available on Nov. 10, 2016, and Murray sold all of his options for a profit of approximately $3,100.

The SEC alleges that Murray created an email account under the name of someone he found on the internet, and the email account was used to gain access to the EDGAR system. Murray then allegedly listed that person as the CFO of ABM Capital and used a business address associated with that person in the fake filing. The SEC also alleges that Murray attempted to conceal his identity and actual location at the time of the filing after conducting research into prior SEC cases that highlighted the IP addresses the false filers used to submit forms on EDGAR. According to the SEC’s complaint, it appeared as though the system was being accessed from a different state by using an IP address registered to a company located in Napa, California.

“As alleged in our complaint, Murray used deceptive techniques in a concerted effort to evade detection, but we were able to connect the dots quickly and hold him accountable,” said Stephanie Avakian, Acting Director of the SEC Enforcement Division. In a parallel action, the U.S. Attorney’s Office has also announced criminal charges against Murray.

The SEC’s complaint charges Murray with violating antifraud provisions of the federal securities laws, including Section 17(a) of the Securities Act of 1933 and Sections 10(b) and 14(e) of the Securities Exchange Act of 1934, and Rules 10b-5 and 14e-8.

The SEC’s continuing investigation is being conducted by David W. Snyder, Assunta Vivolo, Kelly L. Gibson, and Patrick A. McCluskey in the Market Abuse Unit in Philadelphia. The case is being supervised by unit co-chiefs Robert A. Cohen and Joseph G. Sansone. The litigation will be led by Julia C. Green and Christopher R. Kelly of the Philadelphia office. The SEC appreciates the assistance of the U.S. Attorney’s Office at Utah and the U.S. Postal Inspection Service.

Accounting Fraud Charges

The Securities and Exchange Commission has announced that a South Korea-based semiconductor manufacturer and its former CFO have agreed to settle charges related to an accounting scheme to artificially boost revenue and manipulate the financial results reported to investors.

The SEC’s order finds that MagnaChip Semiconductor Corp. overstated revenues for nearly two years in response to immense pressure placed on employees each quarter to meet revenue and gross margin targets that had been communicated to the public. Then-CFO Margaret Sakai directed or approved several fraudulent accounting practices to make it falsely appear the company had met those targets. For example, MagnaChip recognized revenue on sales of incomplete or unshipped products, and the company delayed booking obsolete or aged inventory to manipulate its reported gross margin. MagnaChip also engaged in roundtrip transactions to manipulate accounts receivable balances, and concealed from auditors that there were side agreements with distributors to induce them to accept products early.

“MagnaChip engaged in a panoply of accounting tricks to artificially meet its financial targets,” said Jina L. Choi, Director of the SEC’s San Francisco Regional Office. “Companies that sell stock in the U.S. markets should prioritize a robust accounting culture that is entirely truthful with investors.”

Without admitting or denying the findings in the SEC’s order, MagnaChip agreed to pay a $3 million penalty and Sakai agreed to pay a $135,000 penalty. Sakai also agreed to be barred from serving as an officer or director of a public company and from appearing or practicing before the SEC as an accountant, which includes not participating in the financial reporting or audits of public companies. The SEC’s investigation has been conducted by Justin M. Lichterman and Michael D. Foley of the San Francisco office, and supervised by Steven D. Buchholz.

The Securities and Exchange Commission has announced that a New Jersey-based firm and its CEO have agreed to pay more than $4 million to settle charges that they used new investor money to repay earlier investors in Ponzi-like fashion and tapped investor funds for the CEO’s personal use.

According to the SEC’s complaint, Verto Capital Management and William Schantz III raised approximately $12.5 million selling promissory notes to purportedly fund Verto Capital’s purchase and sale of life settlements, which are life insurance policies sold in the secondary market. The SEC alleges that they misrepresented to investors that Verto Capital was a profitable company and investor funds would be used for general working capital purposes. Verto Capital and other Schantz businesses had been unprofitable for several years, according to the SEC’s complaint, and Schantz resorted to taking disproportionately large distributions of investor funds for himself and using new investor money to repay earlier investors.

Verto Capital and Schantz also allegedly made misrepresentations to investors about the safety of the notes and collateral underlying them. The SEC alleges that the promissory notes were primarily sold through a group of insurance brokers in Texas, and religious investors were targeted.

“As alleged in our complaint, investors were told that the life settlement-backed notes were short-term investments with an unlikely event of default. Schantz and Verto misled investors about the company’s past performance and the value of the collateral, and they diverted significant investor funds for Schantz’s personal use,” said Andrew M. Calamari.

A Fair Fund will be created to return money collected in the settlement to harmed investors. Schantz and Verto Capital agreed to pay disgorgement of $3,433,666 plus interest of $124,851 and a penalty of $600,000. Without admitting or denying the allegations, they consented to permanent injunctions against further violations of Section 17(a)(2) and (3) and Section 5 of the Securities Act of 1933. Schantz further agreed to be enjoined from selling any promissory notes. The settlement is subject to court approval.

SEC Lawyer Free Consultation

If you’ve been charged by the SEC, call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506

Ascent Law LLC

4.9 stars – based on 67 reviews

Recent Posts

Don’t Miss Your Visitation Time

Divorce and Domestic Violence

Which Visitation Schedule is Right?

Divorce News

Hiring Employees for Your Business

Winning Sole Custody

from Michael Anderson https://www.ascentlawfirm.com/lawyer-for-sec-charges/

[the-sewing-machine]

Lawyer for SEC Charges

The Securities and Exchange Commission filed fraud charges against a Virginia-based mechanical engineer accused of scheming to manipulate the price of Fitbit stock by making a phony regulatory filing. As a Securities Lawyer, I’ve seen these before. According to the SEC’s complaint, Robert W. Murray purchased Fitbit call options just minutes before a fake tender offer that he orchestrated was filed on the SEC’s EDGAR system purporting that a company named ABM Capital LTD sought to acquire Fitbit’s outstanding shares at a substantial premium. Fitbit’s stock price temporarily spiked when the tender offer became publicly available on Nov. 10, 2016, and Murray sold all of his options for a profit of approximately $3,100.

The SEC alleges that Murray created an email account under the name of someone he found on the internet, and the email account was used to gain access to the EDGAR system. Murray then allegedly listed that person as the CFO of ABM Capital and used a business address associated with that person in the fake filing. The SEC also alleges that Murray attempted to conceal his identity and actual location at the time of the filing after conducting research into prior SEC cases that highlighted the IP addresses the false filers used to submit forms on EDGAR. According to the SEC’s complaint, it appeared as though the system was being accessed from a different state by using an IP address registered to a company located in Napa, California.

“As alleged in our complaint, Murray used deceptive techniques in a concerted effort to evade detection, but we were able to connect the dots quickly and hold him accountable,” said Stephanie Avakian, Acting Director of the SEC Enforcement Division. In a parallel action, the U.S. Attorney’s Office has also announced criminal charges against Murray.

The SEC’s complaint charges Murray with violating antifraud provisions of the federal securities laws, including Section 17(a) of the Securities Act of 1933 and Sections 10(b) and 14(e) of the Securities Exchange Act of 1934, and Rules 10b-5 and 14e-8.

The SEC’s continuing investigation is being conducted by David W. Snyder, Assunta Vivolo, Kelly L. Gibson, and Patrick A. McCluskey in the Market Abuse Unit in Philadelphia. The case is being supervised by unit co-chiefs Robert A. Cohen and Joseph G. Sansone. The litigation will be led by Julia C. Green and Christopher R. Kelly of the Philadelphia office. The SEC appreciates the assistance of the U.S. Attorney’s Office at Utah and the U.S. Postal Inspection Service.

Accounting Fraud Charges

The Securities and Exchange Commission has announced that a South Korea-based semiconductor manufacturer and its former CFO have agreed to settle charges related to an accounting scheme to artificially boost revenue and manipulate the financial results reported to investors.

The SEC’s order finds that MagnaChip Semiconductor Corp. overstated revenues for nearly two years in response to immense pressure placed on employees each quarter to meet revenue and gross margin targets that had been communicated to the public. Then-CFO Margaret Sakai directed or approved several fraudulent accounting practices to make it falsely appear the company had met those targets. For example, MagnaChip recognized revenue on sales of incomplete or unshipped products, and the company delayed booking obsolete or aged inventory to manipulate its reported gross margin. MagnaChip also engaged in roundtrip transactions to manipulate accounts receivable balances, and concealed from auditors that there were side agreements with distributors to induce them to accept products early.

“MagnaChip engaged in a panoply of accounting tricks to artificially meet its financial targets,” said Jina L. Choi, Director of the SEC’s San Francisco Regional Office. “Companies that sell stock in the U.S. markets should prioritize a robust accounting culture that is entirely truthful with investors.”

Without admitting or denying the findings in the SEC’s order, MagnaChip agreed to pay a $3 million penalty and Sakai agreed to pay a $135,000 penalty. Sakai also agreed to be barred from serving as an officer or director of a public company and from appearing or practicing before the SEC as an accountant, which includes not participating in the financial reporting or audits of public companies. The SEC’s investigation has been conducted by Justin M. Lichterman and Michael D. Foley of the San Francisco office, and supervised by Steven D. Buchholz.

The Securities and Exchange Commission has announced that a New Jersey-based firm and its CEO have agreed to pay more than $4 million to settle charges that they used new investor money to repay earlier investors in Ponzi-like fashion and tapped investor funds for the CEO’s personal use.

According to the SEC’s complaint, Verto Capital Management and William Schantz III raised approximately $12.5 million selling promissory notes to purportedly fund Verto Capital’s purchase and sale of life settlements, which are life insurance policies sold in the secondary market. The SEC alleges that they misrepresented to investors that Verto Capital was a profitable company and investor funds would be used for general working capital purposes. Verto Capital and other Schantz businesses had been unprofitable for several years, according to the SEC’s complaint, and Schantz resorted to taking disproportionately large distributions of investor funds for himself and using new investor money to repay earlier investors.

Verto Capital and Schantz also allegedly made misrepresentations to investors about the safety of the notes and collateral underlying them. The SEC alleges that the promissory notes were primarily sold through a group of insurance brokers in Texas, and religious investors were targeted.

“As alleged in our complaint, investors were told that the life settlement-backed notes were short-term investments with an unlikely event of default. Schantz and Verto misled investors about the company’s past performance and the value of the collateral, and they diverted significant investor funds for Schantz’s personal use,” said Andrew M. Calamari.

A Fair Fund will be created to return money collected in the settlement to harmed investors. Schantz and Verto Capital agreed to pay disgorgement of $3,433,666 plus interest of $124,851 and a penalty of $600,000. Without admitting or denying the allegations, they consented to permanent injunctions against further violations of Section 17(a)(2) and (3) and Section 5 of the Securities Act of 1933. Schantz further agreed to be enjoined from selling any promissory notes. The settlement is subject to court approval.

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