Investor Lawyers Blog

Ex-GPB Capital Holdings CCO Pleads Guilty to Theft of Government Property

Published on: September 16, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Michael Cohn Allegedly Stole Information About SEC Probe Into GPB Ponzi Scam Allegations

Nearly a year after he was charged with obstruction of justice, Michael Cohn, the former Chief Compliance Officer of GPB Capital Holdings, has pleaded guilty to the misdemeanor crime of theft of government property.

The initial charges against him had been classified as federal crimes and included obstruction of justice, unauthorized disclosure of confidential information, and unauthorized computer access.

Ex-UBS Broker and IHT Wealth Management Investment Advisor Frederick Kort Accused Of Unsuitable Investment Recommendations Involving Options Overlay Strategy

Published on: September 15, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Pending Allegations Likely Involve UBS YES Strategy

Frederick Maximillian Kort, a former UBS Financial (UBS) broker, is facing allegations that he made misrepresentations when making unsuitable investment recommendations to customers.

According to his BrokerCheck record, there are two pending customer disputes against him, both involving an options overlay strategy. While the disclosure does not specifically state so, this is likely UBS’s Yield Enhancement Strategy, in which many of the firm’s registered representatives have come under fire for selling to investors.

Former Customer of Ex-Raymond James Broker Paul Steffany Wins $320K Award

Published on: September 14, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Family Trust to Receive Compensatory Damages From Broker-Dealer

In its Financial Industry Regulatory Authority (FINRA) arbitration claim against Raymond James & Associates and former broker Paul Anthony Steffany, the Angelina J. Cuccaro Family Trusted was awarded $320K in compensatory damages.

The claimant contends that it was the victim of broker negligence and the firm’s failure to supervise. The former Connecticut broker was barred by the self-regulatory organization (SRO) in 2015.

Frontier Communication Bonds Investors May Be Able To Recover Losses Through Broker Fraud Claims

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

Following Bankruptcy Proceedings, Bondholders Turn to FINRA Arbitration

Now that Frontier Communications Corp. has filed for bankruptcy protection, investors who bought the company’s bonds may be grappling with how to recover their losses.

At Shepherd Smith Edwards and Kantas (SSEK Law Firm), our bond fraud lawyers are here to tell you that you may have grounds for a Financial Industry Regulatory Authority (FINRA) arbitration claim against the broker that sold you these investments.

Ex-American Northcoast Securities Broker Dominic Tropiano Allegedly Defrauded ETF Investors

Published on: September 9, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Barred Ohio Stockbroker Accused of Over 500 Unsuitable Exchange Traded Fund Transactions

Dominic Anthony Tropiano, a former registered broker in Ohio, is now facing US Securities and Exchange Commission (SEC) fraud charges. The regulator contends that Tropiano placed more than 500 unsuitable and unauthorized trades in 40 customer accounts belonging to retail customers, including elderly investors.

These transactions and investment strategies involved leveraged exchange-traded funds (ETFs), which are complex, very risky securities. As a result, customers allegedly lost over $1M. Meanwhile, Tropiano earned at least $115K in bonuses and commissions.

FS Energy & Power Fund Investors Should Talk To A Broker Fraud Lawyer

Published on: September 8, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Franklin Square Energy and Power Fund’s Board Suspends Repurchase Program

If you are someone who invested in Franklin Square Energy and Power Fund (FSEP), you have likely experienced losses. The non-traded business development company’s (BDC) board recently announced that it was suspending its repurchase program and its share price has once again plunged.

While FSEP has pointed to COVID-19, the resulting turbulence, and oil prices sinking as reasons for its current woes, investors may have reason to pursue broker fraud and negligence claims if their broker-dealer unsuitably recommended this investment or failed to apprise them of the risks involved.

Arkansas Retiree Who Worked With Ex-LPL Financial Broker Rhett Bedwell Sues for $500K in Damages

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

Senior Investor’s Loses Retirement Funds Because of Unsuitable Investment

An Arkansas retiree has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against LPL Financial for losses he suffered because of the unsuitable recommendation of Rhett Douglas Bedwell, one of the broker-dealer’s former registered representatives. Bedwell, who is no longer a stockbroker or investment advisor, is accused of defrauding a number of customers.

Now, this retiree is seeking up to $500K in investment loss damages after Bedwell invested a significant portion of his retirement funds in what appears to have been a Ponzi scam involving Small World Capital and the now defunct, Graysail Capital.

SEC Accuses Financial Advisor And Strategic Wealth Advisor Group of Stealing $2.2M From Senior Investors

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

Investment Advisor Allegedly Defrauded Senior Investors to Fund Lavish Lifestyle

The US Securities and Exchange Commission (SEC) has filed charges against Mark Joseph Boucher, a California-based investment adviser, and his firm, Strategic Wealth Advisor Group Services.

Boucher and Strategic Wealth Advisor Group are accused of stealing $2.2M from older customers, including one who had died. Now, the regulator wants permanent injunctions, civil penalties, and disgorgement with prejudgment interest.

Brokers Unsuitably Recommended NorthStar Healthcare Income Non-traded REIT To Many Retail Investors

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

NorthStar Healthcare Investors Should Explore Legal Options to Recover Losses

Eighteen months after NorthStar Healthcare REIT suspended distributions, investors are still grappling with the losses they’ve sustained. Now, the non-traded real estate investment trust’s (non-traded REITs) share price appears to have lost most, if not all, of its value.

If you are a Northstar Healthcare investors, our non-traded REIT fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) would like to help you explore your legal options. You very well may have grounds for a broker negligence claim to recover your losses and damages.

Dallas Retiree Accuses UBS Of Unsuitably Recommending YES Strategy

Published on: September 1, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Senior Investor Sues UBS Financial For Losses Caused by Yield Enhancement Strategy

A Texas retiree says UBS’s Yield Enhancement Strategy (“YES”) is to blame for investment losses he suffered over a short time period at the end of 2018. According to the claim filed with the Financial Industry Regulatory Authority (“FINRA”), the YES program was unsuitably recommended to him as it is a highly risky investment program. Now, the claimant is seeking up to $100,000 in damages.

Our broker-dealer fraud lawyers at Shepherd Smith Edwards & Kantas (“SSEK Law Firm”) are representing this investor as well as several others seeking to recoup wrongful losses from UBS Financial’s YES program. SSEK Law Firm represents investors nationwide, including in UBS YES claims. The most recent case SSEK Law Firm has filed will be held in Dallas.