Former Georgia Financial Advisor Allegedly Ran Ponzi Scheme Through Southport Capital On August 20, 2021, the Securities and Exchange Commission (SEC) filed an emergency action seeking to stop a $110 million Ponzi scheme allegedly operated by ex-Oppenheimer stockbroker, John Justin Woods. The fraud, involving Horizon Private Equity III, LLC was…
South Carolina Financial Advisor Named in Five Pending Customer Disputes Cetera Advisors Network registered representative, Ronald Franklin Metcalf, Jr, is named in five pending customer disputes in which the claimants are seeking more than $6.5M in financial recovery. All of them accuse Metcalf of failing to supervise other registered representatives…
Financial Independence President & Ex-Dallas, Texas Financial Advisor Was Barred by FINRA Dana Bruce Vietor, a former CFD Investment Services registered representative is under scrutiny following multiple allegations of broker misconduct that have led to customer losses. The latest still pending claims were brought by investors seeking to collectively recover…
Pennsylvania Financial Advisor is Accused of Making Unsuitable Recommendations Austin Richard Dutton, Jr., an American Trust Investment Services stockbroker, is currently the subject of a Financial Industry Regulatory Authority (FINRA) arbitration case. The self-regulatory organization (SRO) has made a preliminary determination to recommend disciplinary action against him. The Doylestown, PA…
GPB Sells Remaining Prime Automotive Group Dealerships to Group 1 Automotive According to a regulatory filing submitted on September 13th, 2021, the private equity firm is selling all of its Prime Automotive car dealerships to Group 1 Automotive Inc. for $880M. The sale includes GPB Automotive Portfolio’s remaining 30 stores…
Ex-New York Financial Advisor Was Barred by FINRA in 2014 Nearly seven years after he was barred by the Financial Industry Regulatory Authority and fired by Ameriprise Financial Services, ex-New York broker Ted Wayne Cadwallader continues to be accused of making unsuitable investment recommendations that caused them significant losses. Shepherd…
Similar Determination Made in Wind Up Proceedings for Old Mutual (Bermuda) Bermuda’s Chief Justice Narinder Hargun and Joint Provisional Liquidators (JPLs) are in agreement that representatives will be appointed for every creditor class in the liquidation proceedings for both Northstar Financial Services (Bermuda), Ltd. and Omnia, Ltd., which was formerly…
Determinación Similar Hecha en Procedimientos de Liquidación de Old Mutual (Islas Bermudas) El juez presidente de Islas Bermudas, Narinder Hargun y los Liquidadores Provisionales Conjuntos (LPCs) están de acuerdo en que sean nombrados representantes para toda clase de acreedores en los procedimientos de liquidación tanto para Northstar Financial Services (Bermuda)…
Civil Lawsuit is Latest Legal Trouble For Convicted Businessman, Greg Lindberg Greg Lindberg, the owner of Northstar Financial Services (Bermuda), is the defendant in a lawsuit in which the plaintiff is demanding that he pay $524M to honor an agreement between two insurers. These insurers are PB Life and Annuity…
Ex-Broker Mike Shustek is Accused of Fraudulently Enriching Himself and the Company Michael Vincent Shustek, an ex-MVP American Securities stockbroker and the CEO of a number of real estate investment trusts (REITs) is facing SEC charges. The ex-broker is being accused of enriching himself and The Parking REIT since 2012. …