Articles Posted in Current Investigations

Investor Seeks Up $1M In Damages Over UBS YES Losses. Our Broker Fraud Lawyer Are Representing This Claimant and Others Against UBS Financial Services

The Shepherd Smith Edwards and Kantas Broker Fraud Lawyer Team ( is representing another investor in their UBS Yield Enhancement Strategy (YES) loss lawsuit against UBS Financial Services. The claimant, an inexperienced New Jersey investor, is suing for up to $1M in damages. Unfortunately, she is just one of many who have suffered significant losses in the brokerage firm’s internally managed, high-risk options trading strategy.

Touted by UBS brokers as a way for investors to obtain marginally higher yields on existing portfolios while taking limited risks, the UBS YES program has caused serious losses for many of the firm’s wealthy clients. Its “iron condor” options overlay approach was allegedly implemented with reckless abandon.

Estate of Texas Retiree With Dementia Files Six-Figure Broker Fraud Lawsuit Against LPL Financial And Broker Bradley Bowman. Brokerage Firm Allegedly Unsuitably Sold FS Energy & Power Fund and KBS Real Estate Investment Trust III

The Shepherd Smith Edwards and Kantas Texas broker fraud law firm ( are representing the estate of a deceased widow in a FINRA lawsuit against LPL Financial and its Houston broker Bradley Alan Bowman. The Katy, Texas investor, who was in his eighties, suffered from dementia. Now, his estate is seeking up to $500K in damages for losses sustained in the non-traded real estate investment trust (non-traded REIT) KBS Real Estate Investment Trust III, the non-traded business development company (non-traded BDC) FS Energy & Power Fund, and an annuity. All of these were too risky for someone of his age with this health issue.

In the broker fraud claim, the estate is alleging best interest violations, unsuitable investment recommendations, misrepresentations and omissions, breach of contract, breach of fiduciary duty, negligence, failure to supervise, and more. LPL and its Texas broker earned high commissions and fees from the illiquid alternative investments it sold to this elderly investor who entrusted them to manage his money properly so he could take care of himself and his family.

New Jersey Widow Sues Cambridge Investment Research Over Alternative Investment Losses 

Elderly Investor Seeks Up to $500K For LJM Preservation and Growth Fund, FS Energy & Power Fund, Highlands REIT, InvenTrust PPTYS, and Other Losses

If you suffered losses in alternative investments that were recommended by your financial advisor, contact the Shepherd Smith Edwards and Kantas Alternative Investment Loss Attorneys ( today. These high-risk, illiquid investments are unsuitable for many conservative and elderly retirees. Yet, many brokers continue to market and sell them to these investors in order to earn high commissions.

Are You An Investor Who Suffered Losses While Working With Broker Bill Shopoff?

California Financial Advisor Who Paid $42 Million in Settlements Is Accused of Running Ponzi Scam 

The Shepherd Smith Edwards and Kantas ( Broker Misconduct Attorney teams are investigating claims involving Irvine, CA stockbroker William Anthony Shopoff (Bill Shopoff) of Shopoff Securities. According to his CRD, this financial advisor has paid investors more than $40 million in settlements since 2018. This includes a $28,750,000 settlement, a $6,500,000 settlement, and other seven-figure settlements related to puts and guarantees that were sold to sophisticated, accredited investors.

Northstar (Bermuda) & Colorado Bankers Life Insurance Owner  Sued For Allegedly Trying To Avoid Paying $580M Legal Debt. Annuity Holders Waiting For Payouts Should Explore Filing Broker Fraud Lawsuits

If you are an investor who suffered losses in Northstar Financial Services (Bermuda)Colorado Bankers Life Insurance, or another insurer owned by billionaire Greg Lindberg, you may want to explore other legal options beyond waiting to get back your money from liquidation or bankruptcy proceedings. If you contact us today, the Shepherd Smith Edwards and Kantas Northstar Bermuda Annuity Fraud Attorneys ( can help you assess whether you have grounds for a claim against your broker-dealer for allegedly unsuitably recommending these troubled annuities.

While many investors may be wary of filing a broker negligence lawsuit, the truth is that recovering all, possibly even any of your funds, through those other avenues is unlikely. These insurers are already heavily in debt. Lindberg, who is awaiting two criminal fraud trials, is suspected of funneling money from them to his special-purpose vehicles. He also owes hundreds of millions of dollars in litigation and his legal woes are only worsening.

Our Northstar Bermuda Broker Fraud Attorney Represents South American Investors Over Northstar (Bermuda) Losses

Argentine Family Seeks Up To $1M in Damages from Truist Investment Services

Shepherd Smith Edwards and Kantas ( represent clients throughout Latin America and South America who suffered losses because a US-based brokerage firm marketed and sold them Northstar Financial Services (Bermuda) annuities. This includes a family in Buenos Aires—mostly of retirees—who entrusted Truist Investment Services (AKA SunTrust Investment Services)  to keep their money secure. Now, they are suing the brokerage firm for up to $1,000,000 in damages.

Our New York Elder Financial Abuse Lawyers Represent Older Investors and Their Families Who Have Broker Fraud Claims

Elder financial abuse is a crime that involves a perpetrator stealing money or assets from an older person. It is often committed by someone that the victim knows, such as a relative, a close friend, a caretaker, or a trusted professional. At Shepherd Smith Edwards and Kantas ( we represent elderly New York investors and their families who have been the victims of broker misconduct or negligence. In the most egregious instances, this can involve deliberate elder financial exploitation.

Older seniors are one of the most vulnerable groups when it comes to financial abuse. By this point in life, many elderly investors will have accrued a nest egg after years of hard work. This means that they have money for bad brokers to misappropriate. Not only that, but as a person ages, they may develop memory problems or decreased mental function, including Alzheimer’s or dementia, and this can make it easier to take advantage of them.

California Senior Files 6-Figure Moody National REIT II Loss Lawsuit Against Centaurus Financial. Our Non-Traded REIT Fraud Law Firm Are Representing This Claimant

A Newport Beach, CA investor is suing Centaurus Financial for up to $500K because of losses she sustained in real estate investment trusts (REITs), including Moody National REIT II. This claimant is an octogenarian semi-retiree and inexperienced when it comes to investing. She looked to this brokerage firm for investment guidance while making it clear she did not want to take on any undue risk.

Shepherd Smith Edwards and Kantas ( are representing this elderly investor. In her FINRA arbitration case, she is accusing Centaurus of allegedly unsuitably recommending illiquid, high-risk, non-traded REITs, including Moody. She also is claiming breach of contract, failure to properly supervise, breach of fiduciary duty, and more. Our client contends that Centaurus broker Gregory Scott Kinkead made misrepresentations and omissions about the risks involved with real estate investment vehicles.

GWG L Bonds Unsuitable For “Perhaps Anyone” Declares FINRA Arbitrator. Investor Awarded Almost $100K Against Greenberg Financial Group

The FINRA arbitrator who ordered brokerage firm Greenberg Financial Group and its longtime financial advisor David Michael Sherwood to pay $102K (including damages, fees, and interest) to a claimant called GWG L Bonds “not a suitable investment for the {client} or perhaps anyone.” These high-risk junk bonds, issued by GWG Holdings, were marketed and sold by approximately 40 regional brokers to retail investors, including retirees and seniors, all over the United States.

GWG, which filed for Chapter 11 bankruptcy protection in 2022, is accused of operating a more than $1.6B Ponzi scam. Meanwhile, L Bond investors, who thought they were buying into safe life settlement bonds, have found themselves with significant losses.

Chicago Elder Financial Abuse Law Firm Represents Older Illinois Seniors and Retirees In Recouping Their Investment Losses From Broker-Dealers

For more than three decades, Shepherd Smith Edwards and Kantas ( have been known as one of the most dedicated Chicago-area elder financial abuse law firms when it comes to advocating and fighting for elderly investors and their families who have fallen victim to stockbroker fraud. We represent clients throughout the state against local and regional broker-dealers, as well as the largest brokerage firms on Wall Street.

Unfortunately, elder financial abuse happens. The National Council on Aging says this crime collectively costs victims up to $36.5B each year. This type of financial exploitation of an older person is often committed by someone that they know, such as a family member, a friend, or a caregiver. It is also carried out by bad brokers and investment advisers seeking to take advantage of an elderly investor, including those suffering from dementia, Alzheimer’s, or other health issues.

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