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.
A customer complaint has been filed against former stockbroker Eric Hollifield (Eric Shea Hollifield CRD:# 3091319) claiming damages of $1,240,000 for misappropriation of funds from the account. The claim was filed on the 25th of …
FA Eric Hollifield Barred After $1.2 Million Misappropriation Complaint Read More »
Matthew Clason, a one-time LPL Financial FA (financial advisor), has got 30 months behind bars, against a possible 20 years, for stealing several hundred thousand dollars from an elderly client. The sentence was announced by …
Matthew Clason From LPL Financial Gets 2.5 Years In Prison For Theft From Elderly Client Read More »
At one time associated as a financial advisor (FA) with Ameriprise, Paul Juan Mata has pleaded guilty to multiple counts of wire and mail fraud, and several others, in a total of 17 felonies. The …
Paul Juan Mata (Ameriprise) Sentenced to 14 Years For Fraud Read More »
Sentencing has been done for Phillip Conley of Jacksonville, Florida on charges of defrauding pastors and churches, and others, in West Virginia, to the tune of $5 million. He is required to serve 87 months …
Northstar Financial Services (Bermuda) has filed for bankruptcy protection. Fraud experts are saying that investors will likely lose a substantial chunk, if not all, of their principal. At one time, the company was estimated to have …
Northstar Financial Services (Bermuda) Investors Sue To Recover Millions Losses Read More »
Payment for “at least two vehicles,” credit card balances, and his own and his in-laws’ home mortgages, are some of the unlawful uses to which 61-year-old Ronald Molo of Sherwood, Illinois, formerly a broker with …
Edward Jones Broker Ron Molo Indicted for Senior Fraud of $778K Read More »
Financial advisor Marc Korsch is facing millions in damages from clients while he was at Arkadios Capital and Centaurus Financial. In addition, Haselkorn & Thibaut, a national investor law firm, has opened an investigation into …
Marc Korsch: Millions Sought in Damages in Pending Arbitration Claims Against Broker Read More »
Through ‘coordinated trading events,’ as the Securities Exchange Commission (SEC) calls them, Gibbsboro, New Jersey-based broker James David O’Brien appears to have made $10 million for himself. The Sec has filed a complaint in the …
Securities Exchange Commission Charges Broker In Stock Manipulation Scheme Read More »
Allegations of executing several hundred unauthorized trades and making up a title and position at a clearing firm where he was never an employee have earned for financial advisor Albert DeGaetano a FINRA (Financial Industry …
A 21-year veteran of the brokerage industry and apparently a well-regarded one, Los Angeles-based Antoine Souma, has been fined $20K and placed on suspension for two months by the Financial Industry Regulatory Authority (FINRA). The …
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