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.
American Realty Capital Properties, a publicly traded nontraded real estate investment trust, collapsed in 2014 after revealing $3 billion in accounting irregularities. Founder Nicholas S. Schorsch and chief accounting officer Brian S. Block later settled […]
OneCoin operated as a fraudulent cryptocurrency scheme from 2014 to 2017, defrauding investors of approximately $4 billion before collapsing. Founder Ruja Ignatova, a Bulgarian national, disappeared in October 2017 and remains on the FBI’s Ten
The Securities and Exchange Commission has charged Justin Jennings with insider trading that generated approximately $2.7 million in unlawful profits. The scheme relied on material nonpublic information about pending corporate transactions. Jennings allegedly traded ahead
SEC Charges Justin Jennings With $2.7 Million Insider Trading Scheme Read More »
Financial advisors across the country continue to sell variable annuities to retirees without fully disclosing the crippling surrender charges that can lock up savings for a decade or more. The products generate substantial commissions for
Variable Annuity Fraud: How Brokers Misrepresent Surrender Charges to Retirees Read More »
Reid & Rudiger LLC, a New York-based broker-dealer, has been expelled from the securities industry by FINRA for what regulators describe as systemic supervisory failures and repeated violations of anti-money laundering obligations. The firm, which
FINRA Expels Reid & Rudiger LLC Over Widespread Supervisory and Compliance Failures Read More »
The Securities and Exchange Commission has filed civil fraud charges against Craig Allen, a Nebraska-based promoter who allegedly raised $4.9 million from retail investors for a purported casino development project. According to the SEC complaint
SEC Charges Craig Allen in $4.9 Million Nebraska Casino Investment Fraud Scheme Read More »
The SEC has intensified its focus on cryptocurrency investment fraud as token offerings and digital asset schemes increasingly target older investors. Between 2021 and 2024, enforcement actions involving crypto-related fraud exceeded $2.8 billion in disgorgement
Cryptocurrency Investment Fraud: How Token Scams Target Retirees Read More »
Unauthorized trading remains one of the most common complaints filed with FINRA. It occurs when a broker buys or sells securities without obtaining the customer’s prior approval. The practice often generates excessive commissions while exposing
The Securities and Exchange Commission has charged Tampa-based RAD Diversified REIT Inc. and its founders Brandon “Dutch” Mendenhall and Amy Vaughn with orchestrating a $152 million fraud scheme that attracted more than 5,500 investors nationwide.
SEC Charges RAD Diversified REIT and Founders With $152 Million Fraud Scheme Read More »
Elias C. Gerodemos, a former independent broker affiliated with Ameriprise Financial in Crown Point, Indiana, has been barred from the securities industry by the Financial Industry Regulatory Authority. The bar follows federal criminal charges accusing
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