Investor Lawyers Blog

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.

Shepherd Smith Edwards and Kantas Investigates Suspended First Western Securities Broker Kerry Dean Wills

Published on: February 5, 2020 | by Shepherd Smith Edwards & Kantas, LLP

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.

Shepherd Smith Edwards and Kantas Investigates Former Berthel Fisher Broker Mason Gann

Published on: February 4, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Suspended Broker Accused of Making Unsuitable Recommendations to Retiree

If you sustained investment losses while working with ex-Berthel Fisher broker Mason Gann, contact our stockbroker fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm) today. Gann, who is not a registered broker at this time, is serving a three-month suspension imposed by the Financial Industry Regulatory Authority (FINRA). The self-regulatory organization (SRO) found that he made unsuitable recommendations in the account of an elderly retiree.

According to the self-regulatory organization (SRO), between 8/2015 and 1/2018, Gann recommended that this investor employ a high-risk options trading strategy. This retiree, who was in his 70’s at the time, not only had “modest retirement savings” and “limited income,” but he was also an inexperienced investor. FINRA contends that Gann did not have reasonable grounds for making such recommendations to this particular customer.

Shepherd Smith Edwards and Kantas Investigates Barred Mutual of Omaha Broker Edward Matthes

Published on: February 3, 2020 | by Shepherd Smith Edwards & Kantas, LLP

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.

Shepherd Smith Edwards and Kantas Investigates Ex-Cetera Advisors Broker Roger Owens

Published on: January 30, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Fired Cetera Advisors Broker Accused Of Unauthorized Securities Sales

Our stockbroker fraud attorneys are speaking to former clients of former Cetera Advisors LLC broker, Roger Lee Owens that sustained substantial investment losses while working with him. Contact Shepherd Smith Edwards and Kantas (SSEK Law Firm) today to schedule your free, no-obligation case consultation.

Cetera Advisors fired Roger Owens last year for allegedly taking part in unapproved private securities transactions. A few months later, the Financial Industry Regulatory Authority (FINRA) suspended Owens for a year, through August 2020, for the same reasons.