Articles Posted in Securities Fraud

What Can You Expect When You Hire Our Seasoned Securities Litigation Lawyers?

With over 30 years representing investors, Shepherd Smith Edwards and Kantas (investorlawyers.com) offer unparalleled experience in securities litigation while providing personalized attention to each of our clients. We work with retail investors, retirees, accredited investors, wealthy investors, and institutional investors that have suffered significant investment losses due to broker negligence or misconduct in pursuing damages from their broker-dealers. Our SEC fraud attorneys have gone up against the largest brokerage firms on Wall Street to secure settlements and win arbitration awards for our clients.

When you retain our services, you gain the insight, skills, and experience of not just one attorney, but of an entire team of knowledgeable securities arbitration lawyers along with skilled staff, including paralegals, legal secretaries, consultants, and assistants. Many of us have previous experience working in other areas of the securities industry, including as account managers and brokers at large Wall Street firms. It is because of what we witnessed in terms of unsavory broker-dealer misconduct and negligence, and how these behaviors harmed investors, that we are now fighting on the side of clients like you. Not only that, but unlike many other securities fraud law firms for which representing investors is just one area of their business, this is our sole area of practice and we’ve been here doing this for a very long time.

Are You An Investor Who Is A Victim of Unsuitable Investment Recommendations by Your Broker?

How Our Skilled Brokerage Firm Arbitration Lawyers Can Help

An unsuitable investment is one that is not appropriate for an investor and this can be for a number of many different reasons depending on the customer. The investment may be too risky for a conservative retiree resulting in serious investor losses. The same investment might not be risky enough for a sophisticated investor, losing them the opportunity to earn the income they might have otherwise if only their portfolio held more complex alternative investments.

Our Seasoned Securities Lawyers Continue to Fight For GWG L Bond Investors

Resignations of GWG Holdings CEO and CFO Are Latest Upset To Hit Beleaguered Alternative Asset Firm

GWG Holdings, Inc. CEO/President Murray T. Holland and CFO/Treasurer Timothy L. Evans recently resigned as the company’s executives. The two men stepped down in mid-November 2022 after an internal review found that other ex-board members’ worries about one investment were allegedly disregarded. Holland and Evans, however, remain on the alternative asset firm’s board.

$500M of This Risky Private Placement Investment May Have Been Sold By Brokerage Firms 

More than two years after the US Securities and Exchange Commission (SEC) announced that it had filed an emergency action against Complete Business Solutions (d/b/a Par Funding), many of those who collectively invested up to $500M in its alternative investment offerings are still grappling with how to recover their investor losses.

The Broker Misconduct Lawyer teams of Shepherd Smith Edwards and Kantas (investorlawyers.com) are speaking with these investors, many of whom may have been unsuitably sold these risky unregistered securities by brokers. If this is the case for you, then you may have grounds for filing a Financial Industry Regulatory Authority (FINRA) lawsuit against your broker-dealer for damages.

New Jersey Accuses Real Estate Development Company of Defrauding 1,800 Investors 

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is investigating claims of losses by 1,800 investors. These investors may have been fraudulently sold at least $630M in securities by National Realty Investment Advisors (NRIA) between 2018 and 2022. The New Jersey-based real estate development company filed for Chapter 11 bankruptcy protection on June 8, 2022. 

An affidavit filed in US bankruptcy court notes about $600M in claims against approximately $300M of assets. On June 21, 2022, the New Jersey Bureau of Securities ordered NRIA to stop operations and accused the company of fraudulent investment sales. Investors were purportedly fraudulently sold units in the NRIA Fund. The minimum investment that investors could make was $100K.

Morgan Stanley Broker Thomas Bonds Has Three Investor Claims That Resulted in Settlements 

Our broker misconduct attorneys are investigating claims of losses involving current and former customers of Morgan Stanley broker Thomas Craig Bonds. According to his BrokerCheck record, the Kirkland, WA financial advisor has one pending customer dispute. In the investor’s FINRA arbitration claim, the claimant seeks $5M in damages and alleges unsuitability related to how the broker managed their account from April 2015 to September 2021. 

Unsuitability generally alleges that actions were taken by the financial advisor that were not a suitable fit for the investor given several factors, including: 

Ex-NPB Financial Group Advisor Has Six Disputes On BrokerCheck Record

If you suffered losses while working with former NPB Financial Group registered representative Neal Edwin Nakagiri, you might have grounds for a Financial Industry Regulatory Authority (FINRA) arbitration claim to pursue damages from the firm. Nakagiri, who has worked for four decades in the industry, has been named in at least six customer complaints. 

According to his LinkedIn, Nakagiri is President and managing owner of NPB Financial Group. He was also a registered broker and investment advisor with the firm from 2006 until March 2022. 

Ex-Centaurus Financial Broker May Have Unsuitably Sold Risky Junk Bonds to Elderly Investors 

Our GWG Holdings L Bond lawyers are looking into claims of L Bond losses by former customers of Mark John Williams, an ex-Centaurus Financial broker. Williams is currently a Kingswood Capital Partners stockbroker and Financial Gravity Family Office Services investment advisor out of Carmel By The Sea, California. 

Several of his former customers, including elderly investors and retirees, have complained that he allegedly recommended and sold them GWG L Bonds. These high-yield bonds were too risky, illiquid, and speculative for these investors from the beginning. These contentions appear to be from when he was registered with Centaurus Financial and after with Forta Financial Group. 

Los Angeles-Based Financial Advisor Allegedly Targeted Customers of Iranian Heritage

In an earlier GWG L Bond blog post, our securities attorneys reported we were looking into whether customers of Emerson Equity broker Tony Barouti had suffered losses in these high-yield bonds. In March 2022, investors filed two investor claims seeking $1.37M in damages.

Brokerage firm Emerson Equity is the managing broker-dealer for the GWG issuer of $1.6B of L bonds, backed by life settlements. On April 20, 2022, GWG Holdings, Inc. filed for Chapter 11 bankruptcy protection. The move came just two months after the Texas-based alternative asset firm defaulted on $13.6M in bond payments and interest it owed L Bond investors. 

Berthel Fisher & Co Accused of Supervisory and Compliance Issues Involving a Customer 

The Financial Industry Regulatory Authority (FINRA) announced that Berthel Fisher & Co. had been ordered to pay a $100K fine. This fine concerns shortcomings related to compliance involving options trades in a customer’s account. The firm is not denying or admitting to the self-regulatory organization’s (SRO) findings. 

According to FINRA, in August 2015, while looking over a customer’s request for approval to trade options in his account, Berthel Fisher & Co neglected to conduct due diligence. The broker-dealer failed to ensure that this type of transaction was suitable based on the client’s investment experience. 

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