LinkedIn
¿PERDIÓ EN BONOS Y FONDOS DE PUERTO RICO?

CALL US!800-259-9010

CALL US!800-259-9010

Investor Lawyers Blog

Home Investor Lawyers Blog

Investor Fraud: Former MML Investors Broker Who Sold $3.5M of Woodbridge Notes is Barred, Ex-Merrill Lynch Rep Gets 40-Month Prison Term for Defrauding Clients, and Barred UBS Broker is Sentenced in $3.7M Fraud

Broker Fraud, Current Investigations, Ponzi Scams, , , , , ,

Ex-Merrill Lynch Broker Will Pay $5M Penalty and Serve Time In Prison A federal judge has sentenced Thomas Buck, an ex-Merrill Lynch broker, to 40 months in prison. Buck pleaded guilty to securities fraud in 2017. As part of his plea, he admitted to lying to Merrill about telling clients about their account options, and, at…

Read More

$18 Billion COFINA Deal to Restructure Puerto Rico Debt Gets Federal Court Approval

Puerto Rico Debt Crisis, ,

U.S. District Judge Laura Taylor Swain has approved a plan to restructure nearly $18 billion of Puerto Rico’s Sales Tax Financing Corp. (COFINA) debt. Judge Swain, who is based in New York but oversees Puerto Rico’s bankruptcy-like proceedings, said the Court believes that the COFINA plan is essential to the island’s financial recovery efforts. The…

Read More

Commodity Futures Trading Commission Orders Couple Who Pleaded Guilty in $11M Futures Trading Scam to Pay Restitution

CFTC, Investor Fraud, Texas Securities Fraud, ,

The CFTC is ordering Lawrence/Laurence Hong, his wife Grace Hong, and their Pishon Holding LLC to pay over $1.25M in restitution for the misappropriation and fraudulent solicitation of futures contracts. The couple already pleaded guilty to related criminal charges last year, with Laurence sentenced to 180 months in prison and Grace to 72 months behind…

Read More

Statim Holdings Is Accused of Defrauding Private Fund Arjun and Its Investors

Hedge Funds, SEC Enforcement, ,

The US Securities and Exchange Commission has filed civil charges against Statim Holdings, Inc. and its owner Atlanta investment adviser, Joseph A. Meyer. The regulator is accusing them of defrauding the private fund Arjun L.P., which they managed, and its investors. Arjun, set up by Meyer in 2007, is a pooled investment vehicle. Its records…

Read More

Finra Bars Fired Merrill Lynch Broker Accused of Falsifying Class B Mutual Fund Share Sales Orders

FINRA, Industry Bars, Mutual Funds,

The Financial Industry Regulatory Authority (Finra) has permanently barred fired Merrill Lynch broker Bhenoy (Ben) Dembla. According to InvestmentNews, The former broker was let go from the financial firm in 2016 for “falsifying documents” related to mutual fund sales. Dembla, who worked for Merrill the entire time he was a broker from 2001 to 2016,…

Read More

Investment Fraud: Capital Securities Must Pay Retired Teachers $3.8M and Investors Ask Court for Nearly $2.7M Judgment over High Risk Investment Losses

FINRA, Investment Advisers,

FINRA Panel Orders Capital Securities to Pay Retired Teachers $2.38M A Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded retired schoolteachers Beryl Lakin and Janice Patin $2.38M for losses they sustained while they were clients of Capitol Securities Management, which is based in Virginia. The two claimants, who are former coworkers, alleged excessive trading,…

Read More

U.S. First Court of Appeals Reverses Lower Court and Rules that Puerto Rico Bondholders Have a Valid Claim on Pension Fund Assets

Municipal Bonds, Puerto Rico Bond Funds, Puerto Rico UBS Bond

The First Circuit Court of Appeals has reversed a district court ruling from the lower court over whether bondholders of nearly $3 billion of debt issued by Puerto Rico’s Employees Retirement System (ERS) have a claim on the pension fund’s assets. The pension fund is designated for the island’s public employees. In 2008, the ERS…

Read More

Retirement Losses: First Allied Securities and Financial Adviser to Pay Retirees Over $1.6M for Investment Advice, MetLife to Pay Another $189M to Individuals Owed Pensions, and Duke University Will Pay Over $10M to Settles Lawsuits Alleging ERISA Violations

FINRA, Pension Funds, Senior Investors, Variable Annuities, , ,

Investors Alleging Negligence and Mishandling of Their Retirement Funds Win FINRA Case A Financial Industry Regulatory Authority (FINRA) panel arbitration is ordering First Allied Securities and financial adviser Larry Glenn Boggs to pay claimants and early retirees Nita and Mike Snow over $578K in compensatory damages, $500,000 in punitive damages, $350K in attorney’s fees, and…

Read More

Investor Fraud: Quest Capital Strategies Must Pay Investor $276K in Woodbridge Ponzi Fraud, FINRA Warns Firms About Recommending Unsuitable 529 Plan Share Classes, and Ex-Ameritas Broker is Barred from the Securities Industry

Arbitration Rulings, Broker Fraud, Current Investigations, FINRA, Industry Bars, Investor Fraud, , , , ,

Investor Awarded $276K in Woodbridge Ponzi Fraud A Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded more than $276K to an investor that lost money in the $1.2B Woodbridge Ponzi scam. The panel found that Quest Capital Strategies did not properly supervise former broker Frank Dietrich, who sold $400K of Woodbridge-sponsored mortgage notes to…

Read More

Woodbridge and Its Ex-Owner Must Pay $1B Over Alleged Ponzi Scam

Ponzi Scams, Retirement Funds, SEC Enforcement, ,

A federal court has ordered the Woodbridge Group of Companies and its former CEO and owner Robert H. Shapiro to pay $1B in disgorgement and penalties for allegedly running a $1.2B Ponzi scam that victimized 8,400 retail investors, including many senior investors who ended up losing their retirement money. Of this $1B, Woodbridge and its…

Read More
Menu