Financial fraud includes activities like embezzlement, insider trading, and accounting fraud, inflicts substantial harm on society. It distorts the transparency and efficiency of financial markets, leading investors and regulators to make decisions based on false information, which can destabilize entire economic systems. The direct victims of financial fraud—ranging from individual investors to large corporations—can face devastating financial losses, potentially wiping out life savings or crippling business operations.
TL;DR Velox Clearing LLC, a Miami-based Wall Street clearing firm, was fined $1.3 million (enough to pay a full-time teacher’s salary for 26 years) by FINRA for running a broken anti-money laundering program from 2019 through 2024. The firm processed…
Financial Misconduct • FINRA Enforcement • Market Transparency NewEdge “Forgot” to Report 19,000 Trades. Here’s Why It Matters. For eight straight years, NewEdge Securities hid over 19,000 fixed-income transactions from the system designed to protect you. The fine they paid…
SEC Fraud Enforcement • Financial Crimes The “Financial Freedom” Fraud That Robbed Real People Judgment Entered: August 14, 2025 • EvilCorporations.com Investigates TL;DR Robert M. Thompson and his company, The Financial Freedom Foundation (also called F3 Mastermind), were sued by…
TL;DR Misconduct DriveWealth, LLC ignored 1,206 customer requests to move their own money and investments to a different broker, trapping their accounts for over two years. Facts The freeze ran from June 2020 through October 2022, a period when markets…
Financial Fraud • Market Manipulation • Regulatory Capture 446 Million Fake Trades.One $185,000 Fine. Reported by EvilCorporations.com • Source: FINRA AWC No. 2021072257301 • Accepted June 4, 2025 TL;DR XP Investments US, LLC pumped fake trade volume onto Bloomberg data…
TL;DR Three executives at Aequitas Management LLC raised $346 million from private investors while secretly running what their own general counsel called a Ponzi scheme. Investor money pitched as funding for “secure receivables” was overwhelmingly diverted to pay off earlier…
EvilCorporations.com | Financial Crimes Investigation Inside the 36,000 Lies Wall Street’s SIDCO Told Its Customers Accepted by FINRA: June 24, 2025 | AWC No. 2023078259101 TL;DR SEI Investments Distribution Co. (SIDCO) hid 19,160 trades from federal regulators for eight straight…
TL;DR A securities fraudster named Ongkaruck Sripetch ran schemes across at least 20 penny stocks, pulling in at least $6 million (enough to fully fund a small-town school district for an entire year) in illicit proceeds. Sripetch argued in federal…
TL;DR Edwin Brant Frost IV and his company First Liberty Building & Loan raised at least $140 million (enough to buy every home in a small American town) from approximately 300 investors between 2014 and June 2025. Frost told investors…
EvilCorporations.com | Investigative Finance Desk TL;DR Imer Gomez, age 28, collected approximately $9 million (enough to pay the annual rent for roughly 240 working families) from investors, primarily Hispanic clients in San Antonio, Texas, by promising them double-digit monthly returns…