1 Global Capital

Shepherd Smith Edwards and Kantas Investigates Claims Involving 1 Global Capital Investments

Published on: November 25, 2019 | by Shepherd Smith Edwards & Kantas, LLP

SSEK Investigate Investment Fraud Claims Made Against 1 Global Capital

If you are someone who invested in 1 Global Capital notes at the recommendation of your broker or financial advisor, you may have grounds for filing an investment fraud claim. 1 Global is accused of operating a $322M scam and defrauding at least 3,600 investors including older investors who lost their retirement funds as a result.

Contact Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) today so we can determine whether you have grounds for a broker fraud case to help you recover your money.

FINRA Bars Broker For Selling $10.8M of Notes in $1.2B Woodbridge Ponzi Scam

Published on: December 6, 2018 | by Shepherd Smith Edwards & Kantas, LLP

The Financial Industry Regulatory Authority (FINRA) has barred yet another ex-broker for selling promissory notes that have since been linked to the $1.2B Woodbridge Ponzi scam. The fraud is believed to have bilked around 8,400 investors.

According to the self-regulatory authority (SRO), broker Frank Dietrich sold 58 investors $10M of promissory notes that came from the Woodbridge Group of Companies. 30 of these investors were clients of Quest Capital Strategies, Inc., which was Dietrich’s brokerage firm at the time of the sales. FINRA said that the former Quest Capital broker earned $261K in commissions from selling the Woodbridge investments.

Quest Capital Strategies reportedly did not know that Dietrich was selling the Woodbridge notes to its customers. Earlier this year, the brokerage firm allowed him to step down after finding that he had sold a product it had not approved and for failing to disclose external business activities.

1 Global Capital Accused of Defrauding Retail Investors in Alleged $287M Unregistered Securities Scam

Published on: September 4, 2018 | by Shepherd Smith Edwards & Kantas, LLP

The US Securities and Exchange Commission has filed fraud charges against 1 Global Capital LLC, a Florida-based cash advance company, and its ex-CEO Carl Ruderman. According to the regulator, they allegedly defrauded at least 3,400 investors and since 2014 have fraudulently raised over $287M through unregistered securities sales.

According to the SEC’s complaint, 1 Global worked with a network of both registered and unregistered investment advisors, brokers who were barred from the industry, and other sales agents. The company paid them millions of dollars in commissions for offering and selling the unregistered securities to investors in at least 25 US states.

Investors were promised that they would make money from loans that 1 Global would issue to companies. The investments were touted as “high-return, low-risk” and purportedly involved the issuing of short-term cash advances to businesses that didn’t qualify for financing of the “more traditional” varieties.