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Category Archives: Uncategorized

SEC Puts a Stop to Colorado-Based Pyramid Scheme

By Gregory Tendrich, P.A. |

If you are considering investing with a company that feels the need to proclaim, “We are not a pyramid scheme,” you may, in fact, be dealing with a pyramid (or Ponzi) scheme. Investors in one Colorado-based company probably wish they had considered that possibility as federal securities regulators recently moved in on the firm… Read More »

Another Man Sentenced in Connection with Billion-Dollar Florida Ponzi Scheme

By Gregory Tendrich, P.A. |

On Feb. 20, a federal judge in Miami sentenced former attorney Frank Preve to 3½ years in jail for his role in one of the most infamous Ponzi schemes of all time. Preve is among dozens of people convicted of criminal charges in connection with the scheme, which was orchestrated by the now-defunct law… Read More »

Canadian Jury Convicts Two Men for Running $400 Million Ponzi Scheme

By Gregory Tendrich, P.A. |

On Feb. 14, a jury in Calgary, Alberta convicted Gary Sorenson and Milowe Brost of securities fraud for their role in what has been described as the largest Ponzi scheme in Canadian history. Prosecutors for the Canadian Crown presented evidence Sorenson and Brost defrauded more than 3,000 people, including a number of U.S. residents,… Read More »

SEC, New York Charge Hedge Fund Manager With Fraud

By Gregory Tendrich, P.A. |

On Feb. 13, New York officials arrested and charged Moazzam Ifzal Malik, also known as Mark Malik, with 28 felony counts arising from his operation of what federal and state officials allege is a fraudulent hedge fund. Malik is the CEO and fund manager of Wolf Hedge Investment Management, an entity the authorities claim… Read More »

SEC Cites “Lax” Oversight in Illegal “Trading Profits” Case

By Gregory Tendrich, P.A. |

Investors should always be on the lookout for brokers who add charges to their stated commissions. Securities fraud does not always involve Ponzi schemes or people selling fictitious investments. Many times, there is fraud in routine, everyday transactions where a seemingly legitimate broker takes markups on trades without telling the investor. SEC v. Lax… Read More »

SEC Warns Investors Not to Fall for “Prime Bank” Scams

By Gregory Tendrich, P.A. |

Securities fraud frequently involves misleading potential investors by using complicated-sounding language. After all, the more complex the investment sounds, the more likely it is to earn enormous profits, right? At least that is what the perpetrators of the fraud want you to believe. The U.S. Securities and Exchange Commission has identified a number of… Read More »

SEC Fines Texas Brokerage After Agent Stole $300,000 From Elderly Clients

By Gregory Tendrich, P.A. |

Even if you deal with a reputable securities broker, there may still be unscrupulous agents of that broker who will take advantage of clients. Federal law requires all registered brokers to establish procedures for supervising their representatives. A broker who fails to do so can be held liable for a rogue agent’s illegal actions…. Read More »

SEC Advises Brokers, Investors on Risks of Hacking and Other “Cyber” Attacks

By Gregory Tendrich, P.A. |

“Cybersecurity” is a major issue that affects many large, publicly traded companies. Recently Anthem, Inc., the nation’s second-largest health insurer, reported a major breach of its security. Hackers managed to acquire personal data—Social Security numbers, telephone numbers, addresses, et cetera—on millions of Anthem customers. This attack comes just a couple weeks after President Obama… Read More »

SEC Fines Broker $10 Million for Laundering Penny Stocks

By Gregory Tendrich, P.A. |

On January 27th, the U.S. Securities and Exchange Commission said New York-based broker Oppenheimer & Co., Inc., admitted to multiple violations of federal securities laws and agreed to pay a $10 million civil penalty. The SEC’s order cited two series of illegal activities by Oppenheimer. Both involved Oppenheimer acting as an intermediary for unregistered… Read More »

Understanding the FINRA Arbitration Process

By Gregory Tendrich, P.A. |

What happens when there is a dispute between you and your investment broker? When you open a brokerage account, you typically sign some sort of customer agreement. This agreement usually contains language requiring arbitration to resolve any disagreement or dispute arising from your account. But what does “arbitration” actually mean? Arbitration and FINRA Arbitration… Read More »

Gregory Tendrich, PA
Gregory Tendrich, P.A. serves clients throughout Florida, including the cities of West Palm Beach, Palm Beach, Delray Beach, Boynton Beach, Boca Raton, Port St. Lucie, Lake Worth, Wellington, Riviera Beach, Palm Beach Gardens, Fort Pierce, Vero Beach, Hobe Sound, Jupiter Island, North Palm Beach, Lake Park, Lantana, Stuart, Palm City, Jensen Beach, Tequesta and Juno Beach and represents clients in Palm Beach County, Martin County, St. Lucie County, Indian River County and throughout Florida.

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