A US judge has entered an order requiring a Foirt Lauderdale resident to show why he should not be held in civil contempt for violating a default judgement after he and another man allegedly used three Bahamas-registered corporations to gain $500,000 from “a scheme to defraud purchasers of securities” in a furnitures manufacturing company.<\/P><\/p>\n
The order was filed against Rajiv Vohra, who with Sean Healey, had earlier been accused in a lawsuit filed by the Securities and exchange Commission (SEC) of using three Bahamian companies – Lantern Investments, Lipton Holdings and Beaufort Holdings – to create “wash sales” that gave the “appearance of active trading in the stock” of New Directions Manufacturing, a firm quoted on the National Association of Securities Dealers (NASD) over-the-counter market.<\/P><\/p>\n
In a ruling on February 26 in the southern district of Florida, a US judge ordered Beaufort Holdings to pay disgorgement worth $61,903 and prejudgement interest of $14,124, with Lantern Investments ordered to pay disgorement of $57,702 and prejudgement interest of $12,300. Both these companies had civil penalties of $100,000 each imposed against them.<\/P><\/p>\n
By Neil Hartnell, The Tribune<\/B><\/P><\/p>\n","protected":false},"excerpt":{"rendered":"
Lantern Investments, Lipton Holdings and Beaufort Holdings – named in alleged fraud<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[],"tags":[],"class_list":["post-241659","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/241659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=241659"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/241659\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=241659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=241659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=241659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}