SEC Administrative Proceedings

SEC bars Ofer Ababaneh from investment industry

The SEC has barred Ofer Ababaneh from associating with any investment adviser, investment company, or any other person or entity registered or required to be registered with the Commission. This action follows Ababaneh's guilty plea and sentencing for investment adviser fraud, resulting in a 48-month prison sentence and restitution of $106,000,000.

SEC Revokes LNP R Group Inc. Securities Registration

The SEC has revoked the securities registration of LNP R Group Inc. due to non-compliance with Section 13(a) of the Exchange Act and associated rules. The company failed to file required periodic reports after September 30, 2023. This action is effective February 27, 2026.

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.

SEC v. Tai Mo Shan Limited - Cease-and-Desist Order and $123M Penalty

The SEC has extended the deadline for the Division of Enforcement to submit a Proposed Plan of Distribution for the Fair Fund established in the cease-and-desist order against Tai Mo Shan Limited. The order requires Tai Mo Shan to pay a total of $123,095,287.00 in disgorgement, interest, and penalties for unregistered securities offerings.

SEC Reinstates Accountant Joseph Jennings, CPA After Suspension

The SEC has issued an order reinstating Joseph Jennings, CPA, to practice before the Commission as an accountant. Jennings was suspended in 2018 for insider trading violations related to the H.J. Heinz Company and Kraft Foods Group, Inc. merger.

SEC v. Madison Capital Funding LLC - Investment Adviser Sanctions

The SEC instituted administrative and cease-and-desist proceedings against Madison Capital Funding LLC, an investment adviser. The firm allegedly failed to determine fair market value for trades with pooled investment vehicles it advised during a period of market disruption.

SEC Bars Ejiro Ode Okuma for Fraud and Misappropriation

The SEC has barred Ejiro Ode Okuma from associating with any regulated entity following findings of fraud and misappropriation of over $9 million from a client. A final judgment was entered against Okuma, permanently enjoining him from future violations of securities laws.