Jonah Engler Silberman- Accused in Illicit Trading Scheme

Jonah Engler Silberman– The SEC obtains final judgments totaling more than $5 million against two defendants in a IIIicit Trading Scheme.

Jonah Engler Silberman claims to be a successful New York-based entrepreneur and finance specialist. Showing off his accomplishments and achievements, Jonah Engler Silberman claims that he has accomplished a lot, from being a popular Wall Street stockbroker to developing startup ventures and starting and expanding a mobile franchise company, as well as focusing on philanthropic activities such as establishing the Jonah Engler Silberman Grant to assist poor students in America who cannot afford higher education fees.

Showcasing his personal life to be untroubled and normal Jonah Engler Silberman claims and asserts that he is also a coffee addict who enjoys the aroma and flavor of the beverage. Jonah Engler Silberman is also knowledgeable about investments and is eager to assist public and private organizations in growing and expanding both large and small businesses.

Further going on with the showing off his happy-go-lucky personal life Jonah Engler Silberman, on the other hand, claims that he believes that his most essential duty is to be the father that his three children require. As a result, Jonah Engler Silberman asserts that he frequently engages his children in his travels and activities. Outside of entrepreneurship, his main interests include love, romanticism, and modern art. Individualism, emotional passion, and idealism, in his opinion, are inextricably linked to both business and family life.

Jonah Engler Silberman also claims his love for sports and asserts that he enjoys boxing, which is not surprising given his competitive nature in the “ring” of entrepreneurship. Finally, Jonah Engler Silberman has a strong interest in spirituality and Buddhism. Indeed, the latter’s tenets, such as kindness and compassion, affect how he conducts himself in business, parenting, and life in general. 

Jonah Engler Silberman- About Jonah Engler Grant Program 2023( As claimed)

“Jonah Engler appreciates and loves unselfishness and accommodating drives, therefore he donates to some genuinely needed help of unfortunate kids in the US, who can’t deal with the expense of the enormous preparatory cost in US schools and universities.

This Grant has been designed to keep our future chiefs’ enthusiasm and thoughts in check. Furthermore, Jonah’s first honor of $1000 will be presented to the understudy who is generally prepared to extend these qualities in words, by writing a 700-850 essay.

Jonah Engler Silberman is expected to put up a plan for students to cope with a touch and feel, the essential philosophy, and the ensuing technique is development. With respect to the $1,000 prize money, it would be given to a huge student effort in his scholastics as well as someone, who helps others around him.

Jonah Engler Silberman’s Grant is a legitimately based program that helps brilliant understudies pursue cutting-edge examinations at some of America’s best institutions and colleges.

In other words, Jonah Engler Silberman understands how difficult it is for talented students from low-income households to get into a good school. As a result, Jonah Engler Silberman established the Grant Fund, with the goal of assisting capable understudies from all backgrounds in obtaining the education they deserve.

One of the grant’s expository themes this year is “Have you ever felt like you were emotionally healing from a situation?” “What did you take away from it?” This topic is very relevant to Jonah, who experienced a great deal of emotional agony and torment as a child. Notwithstanding this, Jonah found the internal quality to persevere and move ahead in life. This is the thing that he needs to impart to the grant beneficiaries – that enduring tough circumstances can make them more grounded and more resistant in their lives

This Grant is available to any gifted student who meets the eligibility requirements. The award covers all or a portion of the cost of education for students in the United States.

To begin with, while this program is open to all students, those who can demonstrate financial need are given priority. In America, the grant is finance. Second, The Jonah Engler Grant 2023 is a capacity-based initiative that provides bright students with the opportunity to pursue their education at America’s top schools and universities. All students are eligible for the grant, but those who can demonstrate financial need are given priority.

Thirdly, This Grant Fund was established by Jonah Engler Silberman with the goal of aiding students who have the ability and desire to pursue advanced education but lack the financial resources to do so. Lastly, The fund provides scholarships to talented students from all backgrounds, with a focus on those from disadvantaged families.”

Jonah Engler Silberman- The SEC has settled a case involving three former registered representatives.

Source- SEC.gov | Engler, et al.

On April 12, 2023, the United States District Court for the Eastern District of New York entered final judgments against defendants Jonah Engler and Barbara Desiderio in an ongoing civil action in which the SEC claims Engler, Desiderio, and two other defendants engaged in a fraudulent, unauthorized trading scheme through hundreds of retail customer accounts at New York broker-dealer Global Arena Capital Corp. Engler, who allegedly managed Global Arena and directed the fraud, was sentenced to pay $1,440,683.51 in ill-gotten gains plus $420,561.71 in prejudgment interest and a civil penalty of $2,295,977.90. Desiderio was sentenced to pay a disgorgement of $391,000, a prejudgment interest of $114,140, and a civil penalty of $391,000.

On May 18, 2023, the United States District Court for the Eastern District of New York entered final judgments against Joshua W. Turney and Hector Perez, former registered representatives at New York broker-dealer Global Arena Capital Corp., in a civil action brought by the Securities and Exchange Commission alleging that they engaged in an unauthorized trading scheme. The final judgments bring the SEC’s case against Turney and Perez to a close.

According to the SEC’s complaint, defendants Jonah Engler, Barbara Desiderio, Turney, and Perez fraudulently schemed to undertake large-scale trading in certain Global Arena customer accounts without gaining authorization from those customers from April to June 2015. The defendants’ allegedly illegal trading occurred in over 360 customer accounts, resulting in over $2.4 million in illegal earnings for Global Arena and ill-gotten riches for the defendants.

The defendants’ illicit trading allegedly took place in over 360 customer accounts, generated over $2.4 million in unlawful profits for Global Arena and ill-gotten gains for the defendants, and resulted in over $4 million in net losses for their customers. The SEC’s complaint charged Turney and Perez with violating Section 17(a)(1) and (3) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5(a) and (c) thereunder.

The defendants’ illicit trading allegedly took place in over 360 customer accounts, generated over $2.4 million in unlawful profits for Global Arena and ill-gotten gains for the defendants, and resulted in over $4 million in net losses for their customers. The SEC’s complaint charged Turney and Perez with violating Section 17(a)(1) and (3) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5(a) and (c) thereunder.

The United States Attorney’s Office for the Eastern District of New York accused Turney and Perez criminally, and each pleaded guilty to one count of conspiracy to commit securities fraud. Turney was sentenced to two years in prison followed by two years of supervised release, and he was ordered to pay $5,295,868.12 in restitution jointly and severally with Perez, as well as forfeit $281,914. Perez was sentenced to two years probation, ordered to pay $5,295,868.12 in restitution with Turney, and forced to forfeit $137,275.

Turney and Perez agreed to separate final judgments in the SEC action. Turney was ordered to pay $347,019.13 in disgorgement and $81,297.47 in prejudgment interest. Perez was ordered to pay $137,275.26 in disgorgement and $32,159.94 in prejudgment interest. The payments were deemed satisfied by the restitution order for Turney and the restitution and forfeiture orders for Perez, in the respective parallel criminal proceedings.

The Court earlier granted partial consent judgments against Turney and Perez in the SEC lawsuit, permanently enjoining them from breaching the Securities Act and Exchange Act antifraud provisions. Litigation Release No. 24874 (Aug. 25, 2020) contains further information. In addition, the SEC recently closed its litigation against Engler and Desiderio.

The New York Regional Office’s litigation and investigative teams included Richard Primoff, Margaret Spillane, Jacqueline Fine, Hane L. Kim, and Steven G. Rawlings, as well as Sandra Yanez from the Home Office. Sheldon Pollock of the New York Regional Office oversaw the litigation. The SEC thanks the United States Attorney’s Office for the Eastern District of New York, the Federal Bureau of Investigation, and the Financial Industry Regulatory Authority.

Jonah Engler Silberman- Illicit Trade (Crime committed by Jonah Engler Silberman) 

Illicit commerce poses a significant and growing threat to civilization. Governments are losing billions of dollars in tax income, legitimate firms are being harmed, and consumers are being exposed to poorly manufactured and unregulated products. The World Economic Forum has warned that illicit commerce might cost the global economy USD 2.2 trillion each year.

Counterfeiters and smugglers are drawn to high-demand items such as luxury products, medications, cosmetics, toys, and gadgets. Cigarettes, for example, are among the most illegally trafficked items in the world, owing to the enormous rewards and relatively low dangers. These gains are typically used by criminal networks to fund other activities such as human trafficking, drug trafficking, and even terrorism.

Illicit commerce makes cheap, unregulated, or non-compliant tobacco products widely available, undermining efforts to reduce smoking prevalence and safeguard young people from nicotine use. As a result, limiting illicit commerce is at the heart of many public health initiatives around the world. To achieve our goal of delivering a smoke-free future, we must ensure that no unlawful actors are fueling a black market for cigarettes and other tobacco products.

Jonah Engler Silberman- What effect does illegal trading have?

Among the many negative repercussions of the illegal tobacco product trade are:

• Governments are deprived of tax income.
• Consumers are exposed to uncontrolled products that are frequently made in unclean settings.
• It is a security risk because it is a key source of revenue for multinational criminal groups.
• Corruption is encouraged, and the rule of law is jeopardized.
• Unregulated, low-quality, and non-compliant products, reduce the effectiveness of public health regulations aimed at preventing smoking.
• Allows children easier access to tobacco products
• The genuine industry’s business is jeopardized.

Jonah Engler Silberman- What is the scope of the illicit trade problem?

According to a Munich Security Conference (MSC) estimate, worldwide illegal flows total between USD 1.6 and 2.2 trillion per year. A large chunk is the trafficking of counterfeit and pirated goods, which according to a 2021 OECD research could have reached USD 464 billion in 2019—that’s 2.5 percent of global trade.

The illicit market accounts for around 12% of overall cigarette sales (excluding China). According to PMI, 400-460 billion contraband cigarettes are consumed globally each year.

Jonah Engler Silberman- How do you go about combating illegal trade?

• Recognize the scope of the issue

This is critical if we are to keep anti-illicit trade methods and solutions relevant and effective. We need to investigate the scope, drivers, and trends of the illicit tobacco trade.

• Allow for customer awareness and education.

We want to help consumers distinguish between legal and illicit items, as well as the risks associated with purchasing unlawful cigarettes, e-cigarettes, and heated tobacco products.

• Demand harsh punishments and strict enforcement.

Governments should enact legislation to make the illegal trade in tobacco products illegal. This should be backed up by tough enforcement and the imposition of serious punishments. This includes a zero-tolerance policy for anyone in possession of illegal or counterfeit tobacco goods.

• Take and destroy

Seized goods and production equipment should be systematically destroyed, and convicted tobacco traffickers’ assets should be forfeited.

• Improve supply chain controls

Technological advancements can enable governments, businesses, and consumers to quickly detect whether a product is real or counterfeit. Tracking and tracing technologies can aid in the prevention of product smuggling across borders. Security features can aid in the authentication of items and the prevention of counterfeiting.

• Encourage public-private collaborations.

Ongoing coordinated and committed work by the local and international public and corporate sectors is critical.

Jonah Engler Silberman- Accused in Illicit Trading Scheme

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