Investor Lawyers Blog

SSEK Investigates Stockbroker Misconduct Claims Involving Ex-Commonwealth Capital Broker Kimberly Springsteen-Abbott

Published on: February 26, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Ex-Commonwealth Capital Broker Was Accused Of Misusing Investors’ Money

If you or someone you know lost money while working with former Commonwealth Capital broker, Kimberly Springsteen-Abbott, please contact our stockbroker fraud lawyers at Shepherd Smith Edwards and Kantas so we can determine whether you have grounds for a claim.

In 2013, Springsteen-Abbott was accused by the Financial Industry Regulatory Authority (FINRA) of misusing about $345K of investor funds to pay for her own expenses. These included home renovations, meals, travel, and other items.

Shepherd Smith Edwards and Kantas Investigates Claims Involving Ex-First Allied Securities Broker Masood Azad

Published on: February 25, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Ex-Broker and First Allied Securities Accused in $1M Investor Fraud Case

Masood Husain Azad, a former Texas-based broker, is now the subject of an over $1M investor fraud claim. Also known as Mike Azad, he was fired by First Allied Securities in 2017. Now, First Allied Securities is a respondent in this Financial Industry Regulatory Authority (FINRA) arbitration case, which was brought by a customer.

At Shepherd Smith Edwards and Kantas (SSEK Law Firm), our broker fraud lawyers are offering a free, no obligation case assessment to former customers of Masood Azad who suffered investment losses that they suspect may be due to fraud or negligence. Contact SSEK Law Firm today.

GPB Capital Sued Again: A Class Action Fraud Case and One Lawsuit by Volkswagen

Published on: February 24, 2020 | by Shepherd Smith Edwards & Kantas, LLP

GPB Capital Holdings Faces Another Securities 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 Capital of breaking its agreement when it fired Prime Automotive Group CEO, David Rosenberg, last year.

Shepherd Smith Edwards and Kantas Investigates Claims Involving Ex-NYLIFE Securities Broker Over Future Income Payments Sales

Published on: February 21, 2020 | by Shepherd Smith Edwards & Kantas, LLP

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.

Shepherd Smith Edwards & Kantas Files GPB Capital Private Placement Fraud Case Against International Assets Advisory

Published on: February 20, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Texas-Based Broker Sold GPB Private Placements To Retiree Couple

Once again, Shepherd Smith Edwards and Kantas (SSEK Law Firm) has filed an investor fraud claim against a broker-dealer after its financial advisor sold investments in GPB Capital Holding’s funds to customers.

This time, the brokerage firm is International Assets Advisory (IAA), LLC and the broker involved is Williams Keen Butcher who is based in Houston.

Shepherd Smith Edwards and Kantas Investigates Investor Claims Involving Ex- Broker Ma Rosa Linan Abrego and Merrill Lynch

Published on: February 19, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Fired Merrill Lynch Broker Barred By FINRA Indefinitely

If you were an investor who sustained losses while working with Ma Rosa Linan Abrego, contact Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) today. Our brokerage firm misconduct lawyers work with clients who have suffered financial losses due to the negligent, fraudulent or other wrongful actions of their financial representatives.

Ma Rosa Linan Abrego, based out of McAllen, Texas, was terminated by Merrill Lynch and recently barred indefinitely by the Financial Industry Regulatory Authority (FINRA) from working as a financial advisor/stockbroker.

Ex-Morgan Stanley Broker Elias Hafen Sentenced To Prison For Investment Fraud

Published on: February 13, 2020 | by Shepherd Smith Edwards & Kantas, LLP

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.

GPB Capital Won’t Be Providing Key Tax Documents to Over 6,500 Investors By April 15

Published on: February 11, 2020 | by Shepherd Smith Edwards & Kantas, LLP

GPB Capital Notifies Automotive Portfolio Investors About Schedule K-1 Delay

Beleaguered alternative asset firm, GPB Capital Holdings, has notified investors of its GPB Automotive Portfolio fund that it won’t be delivering key tax documents to them in time for this year’s April 15th tax deadline.

The GPB Automotive Portfolio is one of the company’s largest funds, having raised $622.1M alone for more than 6,500 investors. Many of whom have suffered huge losses after the fund’s private placements dropped in value by 39%.

Rogue Broker Named in Over 50 Complaints Found Guilty of Mail & Wire Fraud

Published on: February 10, 2020 | by Shepherd Smith Edwards & Kantas, LLP

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.

Shepherd Smith Edwards and Kantas Investigates Investor Claims Involving Non-Traditional ETFs

Published on: February 7, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Non-Traditional Exchange-Traded Funds Are Not Suitable For Every Investor

Our securities fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm) are looking into complaints by investors whose brokers may have inappropriately recommended that they invest in non-traditional exchange-traded funds (ETFs).

These types of ETFs are leveraged, inverse and inverse-leveraged exchange-traded funds and they are not for every investor. This is definitely the type of investment that a financial representative and its broker-dealer should assess for suitability on a customer-by-customer basis.