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Anonymous ID: 8dd3bf Dec. 30, 2020, 10:02 a.m. No.12238771   🗄️.is 🔗kun   >>8774

SEC Charges Jewelry Wholesaler with Fraudulent Securities Offering Targeting Current and Retired Police Officers and Firefighters

FOR IMMEDIATE RELEASE

2020-343

Washington D.C., Dec. 30, 2020 —

The Securities and Exchange Commission today charged Gregory Altieri, of Melville, New York, for operating a fraudulent Ponzi-like scheme that defrauded current and retired police officers and firefighters, among others, and misappropriating investor funds.

 

According to the SEC's complaint, from at least 2017 through early 2020, Altieri, through LNA Associates, an entity he owned and controlled, raised over $69 million from at least 80 investors by falsely claiming that the investments would be used to acquire jewelry for a business operated by LNA. Altieri allegedly guaranteed investors that they would quickly receive a return on their investment ranging from approximately 30% of their initial investment to, in some instances, over 100%. However, as the complaint alleges, Altieri used the vast majority of the funds to perpetuate and conceal his fraudulent scheme, using funds from new investors to pay earlier investors their anticipated returns. The complaint further alleges that Altieri also misappropriated at least $3.8 million in investor funds.

 

"As alleged in the complaint, Altieri defrauded current and former first responders and other investors who thought they were making safe investments," said Richard R. Best, Director of the SEC's New York Regional Office. "We will continue to diligently pursue those who prey on investors and abuse their trust."

 

The SEC's Office of Investor Education and Advocacy has issued investor alerts on avoiding investment frauds; and Ponzi scheme red flags. Additional information is available on Investor.gov and SEC.gov. The SEC's complaint, filed in federal court for the Eastern District of New York, charges Altieri with violations of the antifraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934, and seeks injunctive relief, disgorgement plus prejudgment interest, and civil penalties.

 

On Dec. 30, 2020, Altieri entered a guilty plea for related conduct before the United States District Court for the Eastern District of New York.

 

The SEC's investigation was conducted by Elizabeth Butler, Jacqueline A. Fine, and Thomas P. Smith, Jr., and supervised by Lara S. Mehraban. The litigation will be handled by Pascale Guerrier and Ms. Butler. The SEC appreciates the assistance of the United States Attorney's Office for the Eastern District of New York and the Federal Bureau of Investigation.

Anonymous ID: 8dd3bf Dec. 30, 2020, 10:03 a.m. No.12238791   🗄️.is 🔗kun

>>12238784

Jed Hickman Named SEC’s EDGAR Business Office Director

FOR IMMEDIATE RELEASE

2020-344

Washington D.C., Dec. 30, 2020 —

The Securities and Exchange Commission today announced that it has named Jed Hickman as the Director of the SEC’s EDGAR Business Office (EBO). Mr. Hickman, who has been serving as Acting Director of the office since April 2019, will assume his new role immediately.

 

The EDGAR Business Office provides executive-level oversight of the SEC’s Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system that provides investors with free online access to financial disclosures by public companies. The EDGAR database also includes filings by mutual funds, exchange-traded funds, variable annuities, and others.

 

The EDGAR website on SEC.gov is considered one of the federal government’s most valuable, receiving nearly two million electronic filings and handling more than 24 million search requests per year.

 

“Information is the lifeblood of our markets and EDGAR provides the backbone,” said SEC Chief Operating Officer Kenneth Johnson. “Jed has demonstrated strong leadership and deep knowledge of EDGAR and the EDGAR Business Office, and I look forward to his continuing contributions to the EDGAR program.”

 

“I am honored to have this opportunity to continue working with my talented and dedicated colleagues supporting EDGAR and improving its effectiveness in bringing efficiency, transparency, and fairness to the securities markets,” Mr. Hickman said.

 

The EDGAR Business Office is currently leading efforts to modernize and enhance EDGAR while continuing to handle EDGAR filer support and evaluate the potential effects on EDGAR from new or changed filing requirements.

 

In addition to serving as the business owner of EDGAR, the EBO Director is responsible for EBO’s legal, technical, and operational units, overseeing everything from rulemaking analysis to governance, planning, budgeting, and customer support related to EDGAR.

 

Mr. Hickman was EBO’s Deputy Director from September 2018 to April 2019, when he was named Acting Director of the office. He joined the SEC in January 2014 as Branch Chief for the Office of Information Technology’s Application Management unit, with responsibility for EDGAR system operations.

 

Before coming to the SEC, Mr. Hickman spent 16 years working in software development, IT infrastructure engineering, IT operations, and IT project and program management in public and private industries.

 

Mr. Hickman holds a bachelor’s degree from the University of Missouri.