COVID-19 UPDATE: We're Open and Ready to Serve Our ClientsLearn More Here
Justia Lawyer Rating
Super Lawyers - Rising Stars
Super Lawyers
Super Lawyers William S. Shephard
Texas Bar Today Top 10 Blog Post
Avvo Rating. Samuel Edwards. Top Attorney
Lawyers Of Distinction 2018

FINRA Suspends Waco, Texas Broker For 18 Months

Two investors have filed Financial Industry Regulatory Authority (FINRA) arbitration complaints against Michael Allen Kamperman, who was most recently a former HD Vest Investment Services registered representative. Both customers are accusing him of making unsuitable and excessive trades on their behalf. Kamperman, who is based out of Texas, was suspended by FINRA last year. 

Our Texas stockbroker fraud lawyers are currently investigating customer claims involving Michael Kamperman. Contact Shepherd Smith Edwards and Kantas (SSEK Law Firm) today.

Texas Brothers Sue Financial Services Company for $1.5M

After turning down a settlement that would have reimbursed them 60 cents for every dollar, brothers Jim and Ken Karger are suing Monex Grupo Financiero for the $1.5M they lost in an alleged decades-long Ponzi scam. This alleged scam not only defrauded them but also other expatriates living in the town of San Miguel de Allende resulting in a loss of up to $40M.

Mexico Daily News, which conducted an investigation into the allegations last year, found that the money was stolen from 150 Monex accounts held by expatriates, including retirees. 

Michael Cohn Allegedly Stole Information About SEC Probe Into GPB Ponzi Scam Allegations

Nearly a year after he was charged with obstruction of justice, Michael Cohn, the former Chief Compliance Officer of GPB Capital Holdings, has pleaded guilty to the misdemeanor crime of theft of government property. 

The initial charges against him had been classified as federal crimes and included obstruction of justice, unauthorized disclosure of confidential information, and unauthorized computer access.

Pending Allegations Likely Involve UBS YES Strategy 

Frederick Maximillian Kort, a former UBS Financial (UBS) broker, is facing allegations that he made misrepresentations when making unsuitable investment recommendations to customers. 

According to his BrokerCheck record, there are two pending customer disputes against him,  both involving an options overlay strategy. While the disclosure does not specifically state so, this is likely UBS’s Yield Enhancement Strategy, in which many of the firm’s registered representatives have come under fire for selling to investors. 

Family Trust to Receive Compensatory Damages From Broker-Dealer 

In its Financial Industry Regulatory Authority (FINRA) arbitration claim against Raymond James & Associates and former broker Paul Anthony Steffany, the Angelina J. Cuccaro Family Trusted was awarded $320K in compensatory damages. 

The claimant contends that it was the victim of broker negligence and the firm’s failure to supervise.  The former Connecticut broker was barred by the self-regulatory organization (SRO) in 2015.  

Following Bankruptcy Proceedings, Bondholders Turn to FINRA Arbitration 

Now that Frontier Communications Corp. has filed for bankruptcy protection, investors who bought the company’s bonds may be grappling with how to recover their losses. 

At Shepherd Smith Edwards and Kantas (SSEK Law Firm), our bond fraud lawyers are here to tell you that you may have grounds for a Financial Industry Regulatory Authority (FINRA) arbitration claim against the broker that sold you these investments. 

Barred Ohio Stockbroker Accused of Over 500 Unsuitable Exchange Traded Fund Transactions 

Dominic Anthony Tropiano, a former registered broker in Ohio, is now facing US Securities and Exchange Commission (SEC) fraud charges. The regulator contends that Tropiano placed more than 500 unsuitable and unauthorized trades in 40 customer accounts belonging to retail customers, including elderly investors. 

These transactions and investment strategies involved leveraged exchange-traded funds (ETFs), which are complex, very risky securities. As a result, customers allegedly lost over $1M. Meanwhile, Tropiano earned at least $115K in bonuses and commissions.

Franklin Square Energy and Power Fund’s Board Suspends Repurchase Program

If you are someone who invested in Franklin Square Energy and Power Fund (FSEP), you have likely experienced losses. The non-traded business development company’s (BDC) board recently announced that it was suspending its repurchase program and its share price has once again plunged. 

While FSEP has pointed to COVID-19, the resulting turbulence, and oil prices sinking as reasons for its current woes, investors may have reason to pursue broker fraud and negligence claims if their broker-dealer unsuitably recommended this investment or failed to apprise them of the risks involved.

Senior Investor’s Loses Retirement Funds Because of Unsuitable Investment

An Arkansas retiree has filed a Financial Industry Regulatory Authority  (FINRA) arbitration claim against LPL Financial for losses he suffered because of the unsuitable recommendation of Rhett Douglas Bedwell, one of the broker-dealer’s former registered representatives. Bedwell, who is no longer a  stockbroker or investment advisor, is accused of defrauding a number of customers. 

Now, this retiree is seeking up to $500K in investment loss damages after Bedwell invested a significant portion of his retirement funds in what appears to have been a Ponzi scam involving Small World Capital and the now defunct, Graysail Capital. 

Investment Advisor Allegedly Defrauded Senior Investors to Fund Lavish Lifestyle

The US Securities and Exchange Commission (SEC) has filed charges against Mark Joseph Boucher, a California-based investment adviser, and his firm, Strategic Wealth Advisor Group Services. 

Boucher and Strategic Wealth Advisor Group are accused of stealing $2.2M from older customers, including one who had died. Now, the regulator wants permanent injunctions, civil penalties, and disgorgement with prejudgment interest.

Contact Information