Tag Archives: securities
Securities Fraud Expert Witnesses

Securities Fraud Expert Witnesses

Securities fraud experts may consult and testify in cases involving financial crime such as the illegal process of convincing others to make investments in the stock market based on false information. Today, the SEC charged Andrew Caspersen, a Park Hill Group partner, with securities fraud. Caspersen is accused of seeking to defraud institutional investors of $95M and using the bulk of the money for investments in his personal account. The SEC complaint filed in federal district court in Manhattan alleges:

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Securities Fraud Experts & Morgan Stanley $2.6B Penalty

Securities Fraud Experts & Morgan Stanley $2.6B Penalty

Securities fraud expert witnesses may consult and testify on the illegal process of convincing others to make investments in the stock market based on false information. These cases may involve mortgage backed securities, asset backed securities, as well as other types of securities and investments. The Justice Department today announced that Morgan Stanley will pay a $2.6B penalty to resolve claims related to Morgan Stanley’s marketing, sale and issuance of residential mortgage-backed securities. Morgan Stanley acknowledged in writing that it failed to disclose critical information to prospective investors about the quality of the mortgage loans underlying its RMBS and about its due diligence practices. Investors, including federally insured financial institutions, suffered billions of dollars in losses from investing in RMBS issued by Morgan Stanley in 2006 and 2007.

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Appellate Court Rules On Securities Expert Witness Testimony

Appellate Court Rules On Securities Expert Witness Testimony

The U.S. Court of Appeals 2nd Circuit vacated Jesse Litvak’s securities fraud conviction saying the lower court improperly excluded parts of his expert witness’s testimony. Securities expert witness Dr. Ram Willner, a business school professor and former portfolio manager, was hired by the defense to testify on how investment managers operate. However, U.S. District Judge Janet Hall disallowed his testimony. The appellate court found that if the defense team had been able to introduce some of Willner’s testimony, a jury might have acquitted the former Jefferies & Company securities broker and trader.

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Securities Expert Witness Testifies In Nomura Trial

Securities Expert Witness Testifies In Nomura Trial

Securities expert witness Peter Rubinstein testified in the Nomura trial against the Federal Housing Finance Agency. Namura Holdings Inc, a global financial services group based in Asia, says the 2007 US housing market is to blame for the financial crisis in 2008 and not the company’s sale of mortgage backed securities. The Federal Housing Finance Agency has sued 18 financial institutions on behalf of Fannie Mae and Freddie Mac.

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Securities Fraud Expert Witnesses & Insider Trading Scam

Securities Fraud Expert Witnesses & Insider Trading Scam

What matters may securities fraud expert witnesses review and consult on? These experts may examine and advise on Ponzi schemes, insider trading, securities offerings, unauthorized trading, churning, and more. Michael Lucarelli, formerly of Lippert/Heilshorn & Associates, was arrested and charged with insider trading on August 26th. He is facing criminal charges by the FBI as well as civil proceedings by the SEC. SEC press release 2014-175 describes the SEC’s investigation and findings.

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Investment Fraud Expert Witnesses

Investment fraud expert witnesses may be called upon to advise and testify regarding asset misappropriations, financial fraud, financial investment strategy, conflicts of interest and more. SEC Press Release 2014-76, April 15, 2014, announces charges against the San Diego investment advisory firm Total Wealth Management and its owner and CEO Jacob Cooper, chief compliance officer, and another employee for misleading investors and breaching their fiduciary duties to clients.

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Securities Fraud Expert Witnesses

What areas of finance may securities fraud expert witnesses consult on? They may write reports and testify on insider trading, Ponzi schemes, and SEC investigations. On February 6th former SAC Capital Advisors portfolio manager Mathew Martoma was found guilty of insider trading. Officials said Martoma sold shares in two pharmaceutical companies after getting inside information from Dr. Sidney Gilman. Dr. Gilman testified he disclosed drug test data to Martoma before the information was made public in 2008. Martoma then sold the shares and made SAC $276M.

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Securities Expert Hired By Anywhere Md Inc.

Securities Expert Hired By Anywhere Md Inc.

Securities expert Donald Rett has been hired by Anywhere Md, Inc. On June 7, 2011, the SEC ordered the securities of ANWM be suspended through June 20, 2011. Per the Order, “Questions have arisen concerning the adequacy and accuracy of public information.”

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Financial Expert Testifies Against Former Executive

Financial Expert Testifies Against Former Executive

A St. George, UT, businessman accused of illegally selling securities in a now-bankrupt Ogden company had the ability to recognize the falseness of statements he allegedly made to investors says a former state investigator. Former state Division of Securities investigator Jared Parrish, who now works as an investigator in a separate lawsuit filed against Hammons by the SEC, testified as an investment expert and reviewed public documents surrounding a series of VesCor transactions.

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D&O Insurance Experts On Goldman Sachs

BusinessInsurance.com writes: “The SEC alleges in a complaint filed April 16 that Goldman made material misstatements and omissions in connection with a synthetic collateralized debt obligation linked to subprime mortgages and that it did not disclose to investors that it had received a Wells notice from the SEC. A Wells notice is an SEC letter stating it intends to begin enforcement proceedings.”

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