Bankoh Investment Services Investors May Have Lost Up to $70M in Northstar Bermuda Products Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is continuing to speak to investors who suffered losses in Northstar Financial Services (Bermuda) products that were sold to them by Bankoh Investment Services brokers. The…
FINRA Suspended Ex-Iowa Stockbroker in 2018 For Selling Away John Michael Krohn, a former Iowa broker with Principal Securities, is named in three customer disputes in which the claimants are collectively pursuing over $39.2M in damages for losses they sustained while working with him. The investors contend that Krohn engaged…
Broker-Dealers Collectively Will Pay $550K Fine and Over $3.3M in Restitution The Financial Industry Regulatory Authority (FINRA) has fined and censured three brokerage firms after finding that they failed to supervise recommendations of the LJM Preservation and Growth Fund (LJMIX, LJMCX, LJMAX) and did not conduct the proper due diligence…
Allegedly Unsuitable Recommendations Caused Senior Investor Loss of Savings A Brunswick, Georgia retiree has filed a Financial Industry Regulatory Authority (FINRA) arbitration case against broker-dealer MML Investors Services, LLC. The investor contends that a broker from the firm overconcentrated his IRA and a non-IRA account in CNL Lifestyle Properties, which…
Big Banks Anticipate Losses in the Billions Last week, Archegos Capital Management, the $10 billion hedge fund founded by Bill Hwang, was forced to liquidate over $30 billion in equities including millions of shares in ViacomCBS, media company Discovery, and a number of Chinese tech companies. The move came after…
Brokerage-Dealer Accused of Unsuitable Investment Recommendation In Three GPB Funds Geneos Wealth Management, a Denver, Colorado-based brokerage firm, is accused of inappropriately recommending that a customer invest in three GPB Capital funds: The GPB Holdings II LP, the GPB Automotive Portfolio, and GPB Waste Management. The investment fraud claim contends…
Former Chicago Stockbroker Defrauded Customers To Fund Luxury Lifestyle Marcus E. Boggs, an ex-Merrill Lynch, Pierce, Fenner & Smith registered representative, has pleaded guilty to wire fraud in the federal criminal case accusing him of defrauding former customers of $3M. The ex-Chicago financial advisor admitted to using the money to…
Investors That Bought NYC Stock When it Was a Non-Traded REIT Hit Especially Hard After NYSE Listing Our real estate investment fraud attorneys (REIT) at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) are investigating the broker-dealers and investment advisors that sold New York City REIT (NYC) to…
Former Customer of Florida Broker is Seeking $245K In Damages Maria Florencia Calcena, currently an Infinex Investments broker in Palm Beach, Florida, is named in a $245K investor claim in which the customer invested in a product from Northstar Financial Services (Bermuda) Ltd. The investor is alleging breach of fiduciary…
Customers of Sagepoint Financial, Royal Alliance Associates, and FSC Securities Have Suffered Losses in the GPB Funds According to InvestmentNews, three Advisor Group brokerage firms raised their reserves for expected “legal and regulatory matters” by up to three times last year. The firms disclosed this information in their 2020 Focus…