We cover latest news on investor lawsuits, investigations and investment fraud. Unfortunately, investment fraud is very common, especially with seniors. We report on several different kinds of security fraud that includes Ponzi-Schemes, Bad Accounting and Improper Sales Practices.
Brenda Smith, an investment advisor, pled guilty previously to securities fraud and was sentenced to 109 months imprisonment for selling Broad Reach Capital LP investments. She was also ordered to pay $47.2 Million in restitution …
Brenda Smith Pleads Guilty To Fraud and Sentenced to Over 9 Years Read More »
On February 18, 2022, Girard Sharp filed a class action lawsuit against GWG Holdings, Inc., based on reports that the alternative asset management firm made misleading and false statements. GWG holds a large portfolio of …
GWG Holdings Lawsuit Filed By Investors To Recover Losses Read More »
If you have a complaint about a financial advisor or broker, you have a number of options. You can contact the SEC, FINRA, the Ombudsman for Banking Services and Investments (OBSI), or several other government …
On Wednesday, the Financial Industry Regulatory Authority Inc. fined national Securities Corp $663,000 on Wednesday for misrepresenting investors regarding the share prices in a private placement sale in December 2017 and January 2018. The Boca …
FINRA Fines National Securities Corp Over 650K Over Pre-IPO Placement Read More »
Nearly two years later, the SEC staffers have been trying to assist financial professionals (including those who are registered as both investment advisors or brokers) in determining which type of account –brokerage, fee-based advisory, etc. …
SEC Warns Advisors On Account Selection For Clients Read More »
The US Securities and Exchange Commission (SEC) has brought civil charges against James Velissaris (founder and former chief investment officer at Infinity Q Capital Management). The regulator claims that Velissaris overvalued assets by more than $1B …
SEC Accuses Infinity Q Founder Accused of $1 Fraud Read More »
A major LPL Financial hybrid RIA firm quietly settled a lawsuit brought by fraud victims alleging that its response to a former financial adviser’s scheme was “as egregious and criminal as the crime itself.” Integrated …
In 2021, the Securities and Exchange Commission (SEC) examined 16% of RIAs (registered investment advisors). This translates to every sixth RIA being examined, out of about 15,000 in all. Additionally, the SEC believes that in …
A registered representative of Merrill Lynch, Evelyn Batista was suspended by the Financial Industry Regulatory Authority (FINRA) for making “reckless misrepresentations” to the Small Business Administration (SBA) to obtain an economic injury disaster loan. In …
A FINRA claim has been filed by an investment fraud law firm on behalf of a resident of Kansas. It alleges unsuitable client investments made by Lincoln Financial Advisors Corp. in Cole Credit Property Trust …
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