Category: Securities Law

United States v. Simmons, No. 12-4469

Decided: December 11, 2013 The Fourth Circuit affirmed Keith Simmons’s (Simmons) convictions for securities fraud and wire fraud, but reversed his conviction for two counts of money laundering because the transactions underlying these latter convictions constituted essential expenses of Simmons’s fraudulent endeavor.  The Fourth Circuit therefore affirmed the decision of...

United States v. Abdulwahab, No. 11-5093

Decided: April 29, 2013 Adley H. Abdulwahab appealed his conviction and sentence for several crimes related to a fraudulent investment scheme. The Fourth Circuit reversed Abdulwahab’s conviction for money laundering, but affirmed the conviction on all other counts. Abdulwahab’s conviction stemmed from a fraudulent investment scheme where Abdulwahab and two...

Waterford Investment Services, Inc. v. Bosco, No. 11-2103

Decided: June 21, 2012 In this declaratory judgment action, the Fourth Circuit held that a securities brokerage firm was subject to arbitrate the claims of certain investors who alleged that their financial advisor, a person indirectly under the control of the firm, had committed misrepresentations and failed to perform “due...