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Articles Tagged with Alternative Investment Fraud

Broker-Dealers Collectively Will Pay $550K Fine and Over $3.3M in Restitution 

The Financial Industry Regulatory Authority (FINRA) has fined and censured three brokerage firms after finding that they failed to supervise recommendations of the LJM Preservation and Growth Fund (LJMIX, LJMCX, LJMAX) and did not conduct the proper due diligence into the alternative mutual fund:

  • Cambridge Investment Services will pay a $400K fine plus more than $3M in restitution 

Infinity Q Capital Management Founder May Have Incorrectly Valued Certain Fund Assets

The US Securities and Exchange Commission (SEC) has approved the suspension of redemptions on the $1.8B Infinity Q Diversified Alpha Investor Fund (IQDAX). This includes postponing redemption date payments past seven days.

The move comes in the wake of allegations that Infinity Q Capital Management CIO and founder, James Velissaris, may have placed the incorrect value on certain complex derivatives in the open-ended mutual fund. 

Former Canonsburg, Pennsylvania Stockbroker Faces Selling Away Allegations

Three years after the Financial Industry Regulatory Authority (FINRA) barred him, Jonathan Douglas Freeze remains the subject of eight pending customer disputes. Most of these investor claims accuse him of selling away and investing customers’ funds in Alternative Investment Holdings, a North Carolina real estate and investment holdings company, without Fortune Financial Services’ authorization.  

Freeze worked 21 years in the industry. He also previously was a broker for Summit Brokerage Services, LPL Financial (LPLA), Lincoln Financial Advisors, and The Lincoln National Life Insurance Company.

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