Articles Tagged with Securities Fraud

What Are High-Yield Bonds? 

Our Skilled Securities Fraud Law Firm Can Help If You Have Suffered Junk Bond Losses

High-yield bonds, also known as junk bonds, are non-investment grade bonds. They are usually put out by issuers that have been given a low rating by credit rating agencies and are considered at risk of not paying interest or giving back an investor’s principal upon maturity. Examples of potential issuers are former investment-grade companies that are in financial trouble or are too highly leveraged and emerging companies looking for working capital to help with expansion.

New Jersey Accuses Real Estate Development Company of Defrauding 1,800 Investors 

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is investigating claims of losses by 1,800 investors. These investors may have been fraudulently sold at least $630M in securities by National Realty Investment Advisors (NRIA) between 2018 and 2022. The New Jersey-based real estate development company filed for Chapter 11 bankruptcy protection on June 8, 2022. 

An affidavit filed in US bankruptcy court notes about $600M in claims against approximately $300M of assets. On June 21, 2022, the New Jersey Bureau of Securities ordered NRIA to stop operations and accused the company of fraudulent investment sales. Investors were purportedly fraudulently sold units in the NRIA Fund. The minimum investment that investors could make was $100K.

Pending Customer Disputes Seek Nearly $2.6M in Broker Misconduct Damages

If you suffered losses while working with ex-Forta Financial Group stockbroker Gregory Jon Williams, you may want to consider filing a FINRA arbitration claim to pursue damages. 

Williams, who is named in several pending customer disputes, is no longer a registered representative. He appears to still be affiliated with Presidential Wealth Management in Colorado Springs.  

Michigan Stockbroker Was Fired By Securities America

Jaime Michael Westenbarger, a former Securities America registered representative in Michigan, is currently named in three pending customer complaints accusing him of negligence and stockbroker fraud. Westenbarger, who was fired by the broker-dealer last year, has been barred by the Financial Industry Regulatory Authority (FINRA).

He worked 16 years in the securities industry. Our securities fraud lawyers at SSEK Law Firm are offering free case consultations to former customers of Jaime Westenbarger who’ve suffered significant investment losses. You may have grounds for a FINRA arbitration claim to recover damages. 

Barred Stockbroker Faces Criminal and SEC Charges for Senior Investor Fraud 

Frederick Stow (CRD#: 864436), a former Raymond James broker based out of Tennessee, is now the subject of criminal charges accusing him of securities fraud, identity theft, and wire fraud for allegedly stealing $943,500 from the IRAs and other accounts of two senior investors between 2015 and 2019. 

The broker-dealer fired him last year and the Financial Industry Regulatory Authority (FINRA) barred him in January. The US Securities and Exchange Commission (SEC) recently filed a parallel civil lawsuit against Stow.

Illinois-Based Stockbroker Faces Four Pending Customer Disputes

Carlos Legaspy, a longtime broker and the owner of InSight Securities, is the subject of four pending customer disputes. All disputes are accusing him of fraud and/or negligence, including one claim seeking up to $6M in damages. 

If you are or were a customer of Legaspy’s or InSight Securities and you suffered substantial losses, contact our stockbroker fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm) right away so that we can help you explore your legal options. We work with investors throughout the US.

Throughout the San Francisco Bay Area, investors are finding themselves hit with huge investment losses, especially over the last few months as COVID-19 has shut down the economy, rattled the markets, and caused an oil price war. 

While the Coronavirus has negatively impacted many investments, you should know that some of these losses also may be due to broker fraud or negligence. Shepherd Smith Edwards and Kantas (SSEK Law Firm) can help you determine whether this is the case and if it means that you have grounds for an investor claim to recover your losses. Contact us today to request your free, no-obligation consultation. 

Investment Losses Reasons That May Be Grounds for a San Francisco Broker Fraud Claim

Our San Francisco structured product fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) work with investors throughout the San Francisco Bay Area in helping them to recoup their losses. 

Structured products are not for everyone, although investors find them very attractive because they can provide the opportunity to earn the high yield not likely to happen with more traditional types of investments. 

Unfortunately, even though these market-linked investments should only be marketed to sophisticated investors that can handle a certain level of risk, brokers lured by the healthy commissions have been recommending them to retail investors, including senior investors and retirees, for years.

Becoming the victim of securities fraud in San Francisco can lead to devastating financial losses and there are steps that you can take to prevent that from happening. Even if your broker is registered with a known brokerage firm, there are questions you should ask and due diligence you can do to protect yourself and your investments.

How To Protect Yourself Against Securities Fraud

Below, we discuss the steps you need to put in place to ensure that you are fully protected when dealing with a broker or brokerage firm based in San Francisco. 

Citigroup Global Markets Broker Under Investigation 

Shepherd, Smith, Edwards & Kantas, a law firm specializing in representing wronged investors, is looking into securities fraud allegations against Timothy Kenska, a broker employed by Citigroup Global Markets out of Encinitas, California. Prior to that, he worked at Citicorp.  

According to his official record on the Financial Industry Regulatory Authority’s (“FINRA”) website, Kenska has seven “disclosures.”  FINRA is the regulatory body overseeing brokerage firms and registered representatives employed by them. A disclosure is an official complaint made or a claim filed against a broker/financial advisor.

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