Frank Glassner of Veritas Executive Compensation Consultants is actually a fraudster who was charged by the SEC.
Frank Glassner of Veritas Executive Compensation Consultants was charged for securities fraud by the SEC in California.
The following Veritas Executive Compensation Consultants review explains how they use deceptive marketing to bury their dirt and the criminal history of its owner, Frank Glassner:
Frank Glassner of Veritas Executive Compensation Consultants- What His Marketers Want You to Think:
The Chairman and CEO of Veritas Executive Compensation Consultants are Frank B. Glassner (Veritas). He also oversees the profession of executive salary consultancy for the firm. Frank is a nationally recognized executive compensation expert with over thirty-six years of experience in the field of compensation and strategy consulting. His consulting experience spans a variety of projects, with a focus on executive compensation, studies connecting organizational strategy and compensation programs to business strategies, board of directors compensation and governance, bankruptcy and reorganization compensation and incentive plans, corporate governance, and ethics, litigation support and expert witness services, succession planning, tax-deferred compensation, wage and salary administration.
The idea of Veritas
According to Frank, a lot of boutique executive compensation consulting firms are only offshoots of larger organizations and have lost popularity as a result of diversifying their business in order to avoid a conflict of interest. Organizational methods within specialized sectors, sales and marketing compensation, incentive compensation and performance management, and performance appraisal and development. Veritas Executive Compensation Consultants was established to have independent ownership to bypass these restrictions.
Specialties: Executive compensation; studies linking organizational strategy and compensation
programs to business strategies; board of directors compensation, governance, and ethics; bankruptcy and reorganization compensation plans; wage and salary administration; job analysis and evaluation; incentive compensation and performance management; performance appraisal and development; and is a highly trained expert witness in the aforementioned fields.
Media and Publications-
Frank is frequently quoted in major publications such as the Wall Street Journal, Fortune, BusinessWeek, Time Magazine, Financial Times, London (UK) Times, Forbes, USA Today, Directors and Boards, Die Welt (GER), US News & World Report, Boston Globe, New York Times, New York Post, LA Times, Washington Post, China Times, Barrons, Chicago Tribune, and the San Francisco Chronicle. He also appears regularly on CNN, Bloomberg, CNBC, CBS, FOX, NPR, and NBC. He often speaks publicly on executive pay and strategic total compensation. He is a member and Corporate Governance and Leadership Fellow of the National Association of Corporate Directors.
Veritas Executive Compensation Consultants by Frank Glassner – More Marketing Claims
Veritas Executive Compensation Consultants (“Veritas”) is a well-known consulting company with a focus on providing advice on governance to executives, boards of directors, and other key personnel. Since 1991, we have served as dependable advisors to many of the top firms in the country in a variety of business sectors.
A fully independent executive compensation consulting organization is Veritas Executive Compensation Consultants.
An independently owned firm, and having no entangling relationships that create a potential conflict of interest scenarios, may attract the unwanted scrutiny of regulators, shareholders, or the media, or create a public outcry.
In order to offer unbiased executive compensation advice, Veritas Executive Compensation Consultants goes above and beyond. Due to the fact that we are independently owned, we carry out our duties with the utmost objectivity – free from any tangled commercial ties.
- Executive Compensation
- Board of Directors Compensation and Governance
- Incentive Compensation and Performance Management
- Bankruptcy and Reorganization Compensation and Incentive Plans
- Litigation Support and Expert Witness Services
- Tax-Deferred Compensation Arrangements
- Surveys on Executive Compensation and Organizational Practices within Specialized Industries.
161 Laurelwood Dr
Novato, California 94949, US
Veritas Executive Compensation Consultants: Frank Glassner Charged with Fraud
SEC Charges Executive Compensation Consultant with Insider Trading
Defendant Allegedly Misappropriated Information He Obtained While Advising Kadmon Holdings, Inc. in Connection with Its Sale to Sanofi
In advance of the announcement of a corporate purchase by one of his clients, the biopharmaceutical company Kadmon Holdings, Inc., the Securities and Exchange Commission today filed an insider trading complaint against Frank B. Glassner, an executive compensation consultant located in California.
A defendant charged with securities fraud in connection with a plot to engage in insider trading using significant, nonpublic information was defended by a criminal defense attorney in New York, New York.
The complaint accusing FRANK GLASSNER, a principal of an executive compensation consulting firm based in Novato, California (the “Consulting Firm”), of securities fraud in connection with a scheme to engage in insider trading, was unsealed today, according to Damian Williams, the United States Attorney for the Southern District of New York, and Michael J. Driscoll, Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (the “FBI” GLASSNER was detained this morning in Novato, California, and will be arraigned today in the United States District Court for the District of Northern California.
U.S. Attorney Damian Williams said: “As an advisor to Kadmon Holdings, Frank Glassner is alleged to have illegally taken advantage of his access to nonpublic information regarding the company’s acquisition to front run trades for himself. Glassner’s alleged attempts to illegally game the markets may have given him a profitable edge, but they also exposed him to a much riskier downside criminal liability for insider trading.”
In a parallel action, the U.S. Attorney’s Office for the Southern District of New York today announced criminal charges against Glassner.
Glassner is accused of breaking Section 10(b) of the Securities Exchange Act of 1934’s antifraud provisions and Rule 10b-5 thereunder in the SEC’s complaint, which also asks for a permanent injunction, disgorgement plus prejudgment interest, and a civil penalty.
Veritas Executive Compensation Consultants
Kadmon was a publicly traded biopharmaceutical firm that specialized in the discovery, development, and marketing of small molecules and biologics with an emphasis on inflammatory and fibrotic illnesses prior to being purchased by Sanofi. On the NASDAQ, Kadmon’s stock was traded under the ticker “KDMN.
Kadmon hired GLASSNER and the Consulting Firm between July 2021 and September 2021 to offer executive compensation consulting services in connection with the potential acquisition of Kadmon. GLASSNER had access to significant, non-public information related to this engagement, which he misused and, in violation of the obligations he made to Kadmon, utilized to trade Kadmon shares and call options.
Between approximately August 3, 2021, and approximately August 23, 2021, GLASSNER conducted this trade while also providing Kadmon with purchase advice. On September 8, 2021, Kadmon made a public announcement announcing that it had reached an agreement to be bought by Sanofi for a price per share that was much more than Kadmon’s share price at the time. GLASSNER made around $405,000 in realized and unrealized profits on the Kadmon shares and call options he had previously bought on that day when Kadmon’s share price rose by about 71%.
Veritas Executive Compensation Consultants: Conclusion
The maximum term for each of the two counts of securities fraud against Veritas Executive Compensation Consultants, GLASSNER, 68, of Novato, California, is twenty years in jail. The other offense carries a possible sentence of twenty-five years in prison.
The maximum possible sentences have been set by Congress and are presented here just for informative purposes; a judge will decide how to punish the prisoner.
Mr. Williams applauded the FBI’s excellent effort. The United States Securities and Exchange Commission, which today launched a simultaneous civil lawsuit, was also thanked by Mr. Williams.
The Securities and Commodities Fraud Task Force of the Office is handling this case. Christine Magdo, an assistant US attorney, is in charge of the prosecution.
The charges contained in the Complaint are merely accusations, and the defendants are presumed innocent unless and until proven guilty.
It’s clear that Frank Glassner of Veritas Executive Compensation Consultants is a fraudster who was charged by the SEC and the Department of Justice. Avoid doing business with him for your own safety.
A rational investor is a person who has great knowledge about the market. Aware of different types of fraud schemes which are available in the market.
I’m doing trading for the last five years and I know when to invest and when not. There are lots of firms that have different types of securities schemes.so, kindly examine the particular trade cycle and then invest in it.
The government should take strict action against this type of business whose main motive is to earn profits making a lot of fraud in the market.
There are various phases in the particular organization like depression and recession so, particular investors keep in mind whether the firm is making a profit for themselves or others.
One of my friends invested in the Veritas consulting firm and his main motive was to get some effective return from investing. But he had to suffer lots of loss.
The owner of Veritas Executive Compensation firm Frank Glassner used his 36 years of experience to ruin the public wealth. By his fake trading scheme.
Glassner committed his crime he accesses the nonpublic information and violated of obligation that he made to Kadmon. By making this crime the court had the right to give twenty years of jail to him.
Insider trading is now taking place all over the world which is illegal when the company is taking part in non-public information and which affects the price of a particular stock.
The particular law is made to the particular organization that was indulged in this type of stock activities which acts as the watchdog to the particular company.
By reading this article I get to know about the various type of scams and that the government should increase the penalty rates and audit the particular company that is indulging in this type of activity.