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.
FINRA has filed a complaint against Gerald James O’Halloran, a Punta Gorda, Florida broker registered with Union Capital Company. The regulator alleges that eight retail customers paid roughly $144,000 in surrender charges after he recommended
Nihat Cardak, the former chief financial officer of GigaMedia Access Corporation, has agreed to settle Securities and Exchange Commission fraud charges tied to a $37 million investor raise. Regulators say Cardak and the software company’s
Former GigaMedia CFO Nihat Cardak settles SEC fraud case over $37 million investor raise Read More »
The Securities and Exchange Commission charged Linqto founder William Sarris and former chief executive Joseph Endoso with defrauding thousands of retail investors who used the platform to buy shares of pre-IPO companies. The complaint describes
Three Florida investors have sued the operators of the Broad Street Global Fund, accusing them of running a billion dollar private equity vehicle in a Ponzi-like fashion and then blocking cash exits. The complaint was
Broad Street Global Fund investors allege Ponzi-style drain of billion dollar fund Read More »
The FBI has placed Imer Gomez, a 29-year-old San Antonio man accused of running a Ponzi scheme, on its new Most Wanted Fraudsters list. Investigators say Gomez raised about 10 million dollars from more than
FBI adds Imer Gomez to Most Wanted Fraudsters list over 10 million dollar Ponzi scheme Read More »
The Securities and Exchange Commission has charged New York fintech startup Kalder Inc. and its founder and chief executive, Gökçe Güven, with defrauding roughly 15 investors of nearly $6.7 million through inflated revenue and customer
SEC charges fintech founder Gökçe Güven and Kalder in $6.7 million investor fraud case Read More »
FINRA has suspended Michigan broker Harvey Alan Brode for two months and fined him $5,000 after determining that his mutual fund switch recommendations left 63 retail customers paying roughly $170,000 in avoidable front-end sales charges.
FINRA suspends Michigan broker Harvey Brode over $5.9 million mutual fund switching Read More »
The Securities and Exchange Commission has obtained final judgments against Francis Biller and four other call-center operators. The group ran a boiler room that pushed small-cap stocks on retail investors and generated more than $58
Matthew Brown, the Texas man whose fabricated $200 million rescue offer briefly lifted Virgin Orbit shares by 33 percent, has been permanently barred from securities offerings and ordered to pay a $236,451 civil penalty. Final
SEC Wins Final Judgment Against Matthew Brown Over Bogus $200 Million Virgin Orbit Offer Read More »
A federal court has permanently barred New York investment adviser Jeremiah Silkowski from the securities industry and ordered him to pay a $200,000 civil penalty after regulators accused him of inflating the value of four
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