Over 1000 Investors May Be Victims of Alleged Future Income Payments Fraud Dozens of stockbrokers, financial planners, financial advisers, and insurance agents are now the defendants of investor fraud lawsuits over an alleged $100M scam that may have bilked over 1000 investors. Many of these investors were retirees, which…
Five unregistered brokers and their companies are now facing US Securities and Exchange Commission charges accusing them of selling Woodbridge securities to investors even though they were not registered as broker-dealers and therefore were not allowed to sell these securities. The defendants allegedly made millions of dollars from the Woodbridge…
According to Yahoo Finance, a number of Wells Fargo (WFC) advisors who used to work for the Private Bank’s wealth management unit are claiming that the firm pushed them to place client funds in investments that charged higher fees to clients. The ex-bank employees contend that they were pressured to…
San Juan, Puerto Rico – October 3, 2013 Lawyers with the Securities Law Firm of Shepherd Smith Edwards & Kantas LLP, are investigating claims involving Puerto Rico UBS bond funds. UBS has been the most prominent broker-dealer operating in Puerto Rico for a number of years. As a result, many,…
With already $1.8B in investor funds, GPB Capital Holdings is now placing a pause on raising more funds while it concentrates on putting in order the accounting and financial statements of two of its biggest funds, the GPB Automotive Portfolio and the GPB Holdings II. Both, collectively have raised nearly…
The US Securities and Exchange Commission is accusing Equitybuild Inc., a real estate investment firm that is based in Florida, and its owners of operating a $135M Ponzi scam that defrauded approximately 900 investors. The regulator contends that the company, its President/CEO Jerome Cohen, and Vice President Shaun Cohen, who…
Shareholders Can Proceed with $13B CDO Fraud Case Against Goldman Sachs A US district court judge has given Goldman Sachs (GS) shareholders the right to move forward with their $13B collateralized debt obligation fraud lawsuit accusing the bank of not disclosing certain conflicts of interest. Judge Paul A. Crotty…
The attorneys with the law firm of Shepherd, Smith, Edwards & Kantas LLP are currently investigating claims involving Larry Dearman, Sr. Larry Dearman moved to Bartlesville, Oklahoma in 2005, when he began working as a financial advisor in the area. He was registered both with the Financial Industry Regulatory Authority…
In a settlement reached with the US Securities and Exchange Commission, Ameriprise Financial Services (AMP) will pay $4.5M over allegations that it did not protect retail investors from five of their financial representatives, who stole over $1.5M. Three of these individuals had previously pleaded guilty to criminal charges involving investor…
Earlier this year, the US Securities and Exchange Commission barred ex-RBC broker Thomas Buck from the industry. The action came less than four months after the regulator filed a civil case accusing Buck of investor fraud. He allegedly made material misrepresentations and omissions to investment advisory clients and certain customers…