Articles Posted in Investor Fraud

Texas Revokes George Marwieh’s RIA License

Our broker misconduct lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) are investigating claims by customers who were sold Future Income Payments notes by their financial advisers or brokers. One of these advisers, George A. Marwieh, got his license revoked by the state of Texas. This bars him from working as a registered investment adviser (RIA) in Texas. Marwieh and his Marwieh Advisory Services, LLC are based in Austin, Texas.

Future Income Payments is accused of running a Ponzi scam that defrauded over 2600 investors of more than $300M. Many of those who lost money were retirees and US veterans.

GPB Capital Holdings Faces Another Fraud Lawsuit

Already the subject of mass fraud accusations, including allegations of a $1.8B Ponzi scam, the alternative assets firm is once again the defendant of two new lawsuits. 

Adding to a growing list of GPB Capital lawsuits is another class action securities fraud case. The other, brought by Volkswagen of America, is accusing GPB of breaking its agreement when it fired Prime Automotive Group CEO, David Rosenberg, last year. 

Ex-NYLIFE Securities Broker Accused Of Selling Investments In Mass Ponzi Scam 

If you suffered losses after former NYLIFE Securities broker, Kari Bracy, also known as Kari Falwell, or any other registered representative persuaded you to invest in Future Income Payments, please contact Shepherd Smith Edwards and Kantas (SSEK Law Firm) today. 

Our stockbroker securities law firm has been looking into claims involving Future Income Payments, LLC. By the time the company stopped doing business in 2018, over 2600 investors were owed more than $300M. The firm has since been accused of running a Ponzi scam. 

Ex-Morgan Stanley Broker Sentenced To 30 Months

Please contact Shepherd Smith Edwards and Kantas (SSEK Law Firm) if Elias Herbert Hafen, a former Morgan Stanley (MS) and Wells Fargo (WFC) broker, was your financial representative when you suffered substantial investment losses that you think may be due to fraud. Hafen is sentenced to 30 months in prison for defrauding former clients of over $1.6M. 

The prison term comes after Hafen pleaded guilty to investment advisor fraud. Prosecutors contend that Hafen sought to defraud 11 retail customers, between 2011 until 2018, by making them think he had access to a high-yield fund that would bring them guaranteed investment returns. 

Rogue Broker Convicted & Faces Decades In Prison

A jury has convicted Anthony Diaz, a barred rogue stockbroker who was fired by several brokerage firms and has been the subject of more than four dozen customer complaints, of 11 counts of wire fraud and mail fraud. Each criminal court comes with a maximum sentence of 20 years in prison. 

Shepherd Smith Edwards and Kantas (SSEK Law Firm) have been speaking to former customers of Diaz who sustained investment losses while working with him. If you are one of these investors, contact our broker fraud attorneys today. You may have grounds for a civil claim against the brokerage firm where he was working at the time. 

Stockbroker Accused Of Improperly Borrowing From Older Customer 

If you suffered investment losses while First Western Securities broker, Kerry Dean Wills was your financial representative, contact Shepherd Smith Edwards and Kantas (SSEK Law Firm). 

Kerry Dean Wills, who is also a registered investment advisor, was recently suspended for six months by the Financial Industry Regulatory Authority (FINRA) and ordered to pay a $10K fine over allegations of elder investment fraud. 

Edward Matthes, Ex-Stockbroker Accused of Elder Investor Fraud 

The US Securities and Exchange Commission (SEC) is accusing former broker, Edward Matthes of defrauding older investors of $2.4M. Matthes was a registered stockbroker and an investment advisor. The Financial Industry Regulatory Authority (FINRA) and the Wisconsin Department of Financial Institutions Securities Division have both permanently barred him. 

The Federal Bureau of Investigation (FBI) opened a probe into his alleged actions last year. Matthes was a registered Mutual of Omaha broker from 2012 – 2019 which was when the firm fired him. He worked in the industry for 20 years. 

UBS Financial Broker Accused Of Unsuitable Recommendations 

If UBS stockbroker, Christopher Wayne Tolman, recommended that you employ UBS’s Yield Enhancement Strategy (YES) for your investments and you sustained significant losses as a result, our securities fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm) want to talk to you. 

Unfortunately, investors have lost about $60M from using this complex investment strategy that many were under the impression was safe and low risk. 

FINRA Bars Former Morgan Stanley Representative

The Financial Industry Regulatory Authority (FINRA) has barred former Morgan Stanley broker, John Joseph Cahill. The ex-registered representative, who was fired from Janney Montgomery Scott early last year, is accused of potentially converting and/or misappropriating an elderly client’s funds while he was at Morgan Stanley. 

John Cahill Is Accused of Elder Investor Fraud

Many SBLOC Investors Not Apprised of Risks

If you are an investor who suffered significant losses from securities-backed line of credits (SBLOCs) and your brokerage firm and their broker neglected to tell you about the risks involved, our investment fraud lawyers at Shepherd Smith Edawrds and Kantas (SSEK Law Firm) would like to talk to you. SBLOCs are not for every investor and they are certainly not for those that are unable to handle too much risk.

What are SBLOCs

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