SEC v. Fernando Passos - Fraud Enforcement Action
The SEC announced a final consent judgment against Fernando Passos, former executive vice president of IRB Brasil Resseguros S.A., for fraud. Passos is permanently enjoined from violating antifraud provisions, barred from serving as an officer or director of a public company, and ordered to pay a $500,000 civil penalty.
Urgent
Enforcement
Securities
SEC Bars Ricardi Celicourt for Unregistered Broker Activities
The SEC has barred Ricardi Celicourt from association with any broker or dealer and from participating in any penny stock offering. This action follows findings that Celicourt acted as an unregistered broker, facilitating the sale of unregistered securities for Royal Bengal Logistics, Inc. and receiving over $517,000 in compensation.
Urgent
Enforcement
Securities