Tag: 上海夜网KX

Indian Origin Brothers Charged in the U.S. for Deceiving Investors

first_imgThe Securities and Exchange Commission (SEC) has charged two Indian-origin brothers for defrauding investors and prospective investors by purporting to provide unbiased research reports on certain publicly-traded small and microcap companies.The SEC said that Ajay Tandon, 41, and Amit Tandon, 47, of New York, with and through their stock research firm SeeThruEquity defrauded investors by telling them that their reports were ‘‘unbiased’’ and “not paid for,” while in reality, they received thousands of dollars from issuers as a condition to providing each report.The Tandon brothers are the co-founder of SeeThruEquity. While Ajay has experience in the securities industry, Amit is the Director of Research at SeeThru as well as an attorney and a member of the New York Bar, PTI reported.According to the SEC’s complaint, SeeThruEquity and the Tandon brothers disguised the payments by inviting companies to make a “presentation” at an investor conference in order to receive a research report for free, the news agency reported citing SEC complaint.The SEC also said that the brothers told investors that the price targets included in them were objectively determined, that they did not own the stocks being covered, and that they took precautions to maintain STE’s objectivity.SEC said in its complaint that both SeeThruEquity and the Tandon brothers allegedly collected several thousand dollars in conference presentation fees per company, and the issuers regularly had input into the substance of the supposedly unbiased research reports, even including the price targets at times, the news agency reported.According to SEC’s allegations, both Ajay and Amit periodically instructed SeeThruEquity analysts to increase the price targets generated by the SeeThruEquity model. On the instruction of the Tandon brothers, SeeThruEquity analysts increased the price targets above the targets generated by the SeeThruEquity model.SEC alleged that the Tandon brothers also engaged in Scalping. Scalping means making a stock recommendation and then contemporaneously trading against that recommendation without adequate disclosure of that trading.“There is a clear line between paid advertising and unbiased research coverage, and we allege that SeeThru and its co-founders crossed it to deceive investors and make money,” Director of the SEC’s Atlanta Regional Office Richard Best said. “According to our complaint, Ajay Tandon even scalped multiple issuers, further revealing the biased nature of SeeThru’s research reports.” Related Itemslast_img read more

Read More

Cabo San Lucas—Cabo Riviera a new luxury resident

first_imgCabo San Lucas—Cabo Riviera, a new luxury residential and commercial development in the Baja Peninsula, has broken ground. Located on the Sea of Cortez 45 minutes from the Los Cabos International airport, Cabo Riviera will be the only five-star development on the East Cape of the peninsula, which is known for its calm waters, beautiful white sand beaches, abundant marine life, diving, snorkeling and unparalleled fishing and boating. The 900-acre development will be anchored by two luxury hotels and will include branded residential living, a state-of-the art signature Pete Dye golf course, and a new 285-slip marina with European-influenced old world architecture.The development is a joint venture between several partners, each with unique resort development experience both in Mexico and the U.S. Grumar S.A., based in Mexico City, developed the first U.S. branded luxury hotel in Los Cabos and has executed developments of high-end projects in Huatulco, Acapulco, Puerto Vallarta and the Baja Peninsula. Grumar S.A. also constructed the three U.S. Embassies in Mexico City, Guatemala City and San Salvador. The U.S.-based partners include Gary G Jacobs, Hank Sames, Ben Barnes and James Sharp. The team brings development, financial, marketing and legal experience to the venture. The anchor five-star hotel and branded residences are a joint venture with Jorge Perez, Chairman of the Related Group of Miami.Mr. Jacobs said, “The market is demanding a pristine and secluded luxury project on the Sea of Cortez at Los Cabos, and we are responding. The East Cape of the Baja Peninsula is one of the most spectacular areas in the world. The Sea of Cortez has no pollution, stunning white sand beaches, incredible marine life and inspirational views of the majestic desert mountains of southern Baja. The air is dry, the ocean water is crystal clear, and there is a large living coral reef a few minutes off the coast. The area is perfectly-suited for light tackle and big game fishing, whale watching, ocean swimming, and hiking in the mountains.”www.caboriviera.com.mxlast_img read more

Read More