FINRA a defendant? What is this?

Discussion in 'Wall St. News' started by wilburbear, Dec 11, 2019.

  1. guru

    guru

    Looks like it's this guy counter-suing for release of his trading records in a lawsuit:
    https://www.justice.gov/usao-nj/pr/microcap-company-ceo-sentenced-52-months-prison-securities-fraud
    "

    Microcap Company CEO Sentenced to 52 Months in Prison for Securities Fraud
    Falsely Claimed Millions in Revenue from Contracts with Foreign Countries
    TRENTON, N.J. – The chief executive officer of a publicly traded microcap company was sentenced today to 52 months in prison for orchestrating a multimillion-dollar securities fraud scheme using false reports with the U.S. Securities and Exchange Commission, U.S. Attorney Craig Carpenito announced.

    Cary Lee Peterson, 38, of Phoenix, Arizona, was previously found guilty of all three counts of an indictment charging him with two counts of false certification in SEC filings and one count of securities fraud. He was convicted following a two-week trial before U.S. District Judge Anne E. Thompson, who imposed the sentence today in Trenton federal court.

    According to documents filed in this case and evidence presented at trial:

    Peterson, as CEO of RVPlus Inc., filed numerous false reports with the SEC, including:

    • On Aug. 21, 2012, Peterson falsely certified on SEC Form 8-K that RVPlus had entered into a contract worth $1.8 billion with the Ministry of Environment for Katsina State within the Federal Republic of Nigeria to provide unspecified green energy products and services.


    • On Nov. 16, 2013, Peterson falsely certified on SEC Form 8-K that RVPlus had entered into a contract worth $90 million with the Commission of the Foreign Affairs to the Senate for the Republic of Haiti.


    • On Dec. 21, 2012, Peterson falsely certified on Form 10-Q that RVPlus held $8,653,846 in short-term accounts receivable for services rendered under the Nigeria agreement, despite prior warnings from RVPlus’ auditors that reporting these receivables as revenue was improper.
    • On Dec. 27, 2012, Peterson falsely certified on SEC Form 8-K that RVPlus had entered into a contract worth $10.5 million with the Federal Ministry of Planning & Economic Affairs for the Republic of Liberia.
    • On March 28, 2013, Peterson falsely certified on SEC Form 10-Q that RVPlus held $17,590,837 in short-term accounts receivable from, among other sources, the Haiti and Liberia agreements.


    The SEC suspended trading in RVPlus on July 19, 2013, due to questions concerning the accuracy of RVPlus’ periodic financial filings, including reported accounts receivable, assets, and operations.

    Peterson also claimed that ECCO2 Corp., a not-for-profit owned by Peterson was an “affiliate organization” of the U.N. Convention on Climate Change. Peterson claimed that “[t]his status held with the sectors of the United Nations opens many windows of opportunity to over $100 billion in financial aid to fund ECCO2 projects.” ECCO2 was never an affiliate of the U.N. Convention on Climate Change. In fact, the U.N. wrote to Peterson on two separate occasions demanding that ECCO2 stop claiming that it was.

    In addition to the prison term, Judge Thompson sentenced Peterson to three years of supervised release and ordered him to pay restitution of $250,167.

    U.S. Attorney Carpenito credited special agents of the FBI, under the direction of Special Agent in Charge Gregory W. Ehrie in Newark, with the investigation. He also thanked FBI special agents under the direction of Special Agent in Charge John F. Bennett in San Francisco for their assistance with Peterson’s arrest, and the U.S. Securities and Exchange Commission’s New York Regional Office, under the direction of Regional Director Marc P. Berger and Senior Associate Regional Director Sanjay Wadhwa, for its assistance.

    The government is represented by Assistant U.S. Attorney Ari Fontecchio of the U.S. Attorney’s Office Criminal Division and Executive Assistant U.S. Attorney Zach Intrater.

    "
     
  2. @guru from the looks of it Cary Lee Peterson confronted the Feds and the Court about this data breach made by the US attorney a year ago during his sentencing hearing and they ignored the data breach after a year. I just read the D.C. class-action complaint.

    See links: https://pronewsreport.com/2019/01/0...orney-leak-bank-records-into-new-jersey-jail/

    https://www.emediaworld.com/politic...y-leak-bank-records-into-new-jersey-jail.html

    Fed Judge Helps US Attorney Leak Bank Records into New Jersey Jail

    (ProNewsReport Editorial):- District of Columbia, Jan 4, 2019 (Issuewire.com) – A federal judge and the U.S. Attorney in New Jersey leaked thousands of bank records containing personal and business trading account profile information from dozens of banks and brokerage firms into the New Jersey Department of Corrections while in pursuit to maliciously sentenced civil rights activist, Cary Lee Peterson. (38) for securities fraud on December 20, 2018.
    U.S. Department of Justice fake news flaws leading to Blue Sheets Bank Leak Crisis to top off 2018 (view history)
    Blue Sheets Bank Leak Crisis Survey – Are you a current customer with one or more of the following financial institutions?
    Apex Clearing Corp
    Charles Schwab & Co
    E-Trade
    First Clearing Corp
    National Financial Services
    Optionsxpress
    TD Ameritrade
    USAA
    Protect yourself today. See Blue Sheets Bank Leak Crisis Survey for more details: (Read more)
    The FINRA Blue Sheets bank leak of extremely privileged and confidential banking data (now in the hands of the U.S. Supreme Court and the Secret Service thanks to Peterson) included the following:
    Complete Social Security numbers
    Complete FEINs (for businesses)
    Complete bank account numbers
    Transaction history
    Complete address and contact information of account holders
    A reliable media source who attended the very long and unusual PAC Man Hearing confirmed that Peterson presented to the judge a copy of the leaked Blue Sheets data that the U.S. Attorney said was produced by a FINRA employee who had been a government witness in Petersons trial.
    U.S. District Court Senior Judge Anne E. Thompson (84) concurred with Peterson that the Blue Sheets should have been sanitized, and abruptly demanded a private meeting in her chamber on the issue in the middle of Petersons sentencing hearing. Upon the private chamber meeting the judge barred Peterson from further pro sepleadings, sentenced him to 52 months in prison for a white-collar crime, passes the Blue Sheets from FINRA back to Peterson, and ordered the U.S. Marshals take him back to jail in Monmouth County, New Jersey with hundreds of criminal offenders.
    The year 2018 could not have ended any better than finding out that a lobbyist sent into the Department of Corrections subsequent to a series of clandestine acts conspired by a former United States Attorney, after a mere misunderstanding between lawyers and businessmen would lead to an 84-year-old judge, the current U.S. Attorney of New Jersey, a FINRA employee, and the longest-serving member of Congress leaking thousands of highly confidential and privileged bank records from stock trading accounts from dozens of banks into the New Jersey prison system with thousands of criminals who would keep ID theft protection companies like LifeLock busy in 2019 and thereafter.
    Its times like this that make it seem sufficient to vote on new laws as to how long a judge can serve on the bench, or whether or not the U.S. Treasury Department should place a tighter grip on banking privacy regulations, or simply get rid of non -governmental organizations like FINRA who appear to be easily compromised while doing the SECs job in this particular instance.
    The story still developing
    Media Contact
    Holly S,
    Freelance writer for EMWNews
    EMWNews.com@gmail.com
    Permalink: https://EMWNews.com/fed-judge-helps-us-attorney-leak-bank-records-into-new-jersey-jail
     
    guru likes this.