Category Archives: Securities Fraud
With Wild Swings, Stocks Have their Worst December Since the Great Depression
In a volatile market, is your portfolio too risky? As the bell rang to close the New York Stock Exchange (NYSE) on the afternoon of December 31st, a difficult month for stocks finally came to an end. As reported by The Street, this was the worst December for American stocks since 1931 — during… Read More »
Customers File Suits Against B. Riley & Co. For Mismanaging Accounts
Norman Joel Caris (CRD: 40535) is a registered representative of B. Riley FBR, Inc. based in Los Angeles, California. According to Caris’ Financial Industry Regulatory Authority (“FINRA”) BrokerCheck file, he was previously referenced in five customer-initiated, investment-related disputes containing allegations of sales practice violations which include suitability, account mismanagement, excessive commissions, and fraud. Those… Read More »
Customer Complaint Filed Against Ameriprise’s Michael Jay Pepe
Michael Jay Pepe (CRD: 1172861) is an Ameriprise Financial Services, Inc. broker based in the Tampa, Florida area. According to Pepe’s FINRA BrokerCheck profile, he is currently, or was previously, the subject of at least six customer-initiated, investment-related disputes (comprised of complaints or arbitrations) containing allegations of sales practice violations including unauthorized and unsuitable… Read More »
SEC Shuts Down $102 Million Ponzi Scheme
The Securities and Exchange Commission today filed charges and obtained an asset freeze against the individuals and companies behind a $102 million Ponzi scheme that bilked investors throughout the U.S. According to the SEC’s complaint, the defendants defrauded more than 600 investors through sales of securities in issuers they controlled, including First Nationle Solution… Read More »
SEC Files Complaint Against Brokers Christopher S. Laws, Jonathan D. Cooke, Danny S. Hood and Brandon P. Long at Keystone Capital Partners, Inc. d/b/a Federal Employee Benefit Counselors
The Securities and Exchange Commission today charged four former Atlanta-area brokers with fraudulently inducing federal employees to roll over holdings from their federal Thrift Savings Plan (TSP) retirement accounts into higher-fee, variable annuity products. The SEC’s enforcement action comes at a time when the agency has been focusing more specifically on brokers’ and advisers’… Read More »
Deciding if a Financial Adviser Is Right for the Job
By PAUL SULLIVAN JUNE 10, 2016 A few years ago, the board that administers the certified financial planner designation decided to test the idea that investors will ask pointed questions of a prospective adviser and not be fooled by a slick presentation. So the Certified Financial Planner Board of Standards hired a professional D.J…. Read More »
FINRA Sanctions MetLife Securities, Inc. $25 Million for Negligent Misrepresentations and Omissions in Connection With Variable Annuity Replacements
If you invested in a MetLife variable annuity and have suffered losses or have questions regarding this investment, please call for a free consultation at 561-475-1332 today. In addition to MetLife variable annuities, we regularly handle cases involving unsuitable investments, churning, hedge funds, Ponzi schemes, securities arbitration, broker fraud, misrepresentation, exploitation of the elderly, and… Read More »
Investor Bulletin: 10 Investment Tips for 2016
Whether you are a first-time investor or have been investing for years, here are ten tips from the SEC’s Office of Investor Education and Advocacy to help you make more informed investing decisions and avoid common scams in 2016. Always check the background of an investment professional − it is easy and free. Details… Read More »
Five Men Accused of Selling False Real Estate Investments
Many investors are looking for a way to get into the real estate market while minimizing their risk. There are a number of ways to do so, such as purchasing shares in a real estate investment trust, a company that manages properties and pays investors a share of the income. Unfortunately, the prospect of… Read More »
SEC, U.S. Attorney Charge Utah Man With Running Fake Investment Club
Investment clubs are a way for individuals to meet and pool their resources to purchase stock, bonds, mutual funds or other securities. Many investment clubs operate as partnerships or limited liability companies, where individuals purchase memberships and participate in joint decision-making. Unlike larger investment groups, an investment club with fewer than 100 members generally… Read More »
