{"id":4555,"date":"2008-01-21T10:59:58","date_gmt":"2008-01-21T10:59:58","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2008\/01\/kw_brown_company_kw_brown_inve"},"modified":"2022-03-25T15:01:12","modified_gmt":"2022-03-25T20:01:12","slug":"kw-brown-company-kw-brown-inve","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/kw-brown-company-kw-brown-inve\/","title":{"rendered":"K.W. Brown & Company, K.W. Brown Investments, & 21st Century Advisors Are Held Liable in $4.5 Million Cherry-Picking Scam"},"content":{"rendered":"

The U.S. District Court for the Southern District of Florida has found K.W. Brown & Company, K.W. Brown Investments, 21st Century Advisors, the companies’ owner Kenneth Brown, his spouse Wendy Brown, and representative Michael Cimilluca liable for their involvement in a cherry-picking scam that earned them $4.5 million and cost investors $9 million. The three of them were also found liable for violating federal securities laws.<\/p>\n

According to the Florida Court, from September 2002 up until at least June 2006, Brown and his friends took part in a fraudulent cherry-picking scheme that helped him and his friends earn millions of dollars in illegal gains while clients lost money as a result.<\/p>\n

Industry regulators had warned Brown that he needed to put in place procedures and policies that would prevent this type of illegal activity, yet the oversights persisted. A Securities and Exchange examination staff had discovered a number of violations in June 2003, including undisclosed conflicts of interest and breaches of fiduciary duty.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The U.S. District Court for the Southern District of Florida has found K.W. Brown & Company, K.W. Brown Investments, 21st Century Advisors, the companies’ owner Kenneth Brown, his spouse Wendy Brown, and representative Michael Cimilluca liable for their involvement in a cherry-picking scam that earned them $4.5 million and cost investors $9 million. The three […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3860,3861],"tags":[],"class_list":["post-4555","post","type-post","status-publish","format-standard","hentry","category-broker-fraud","category-k-w-brown-company","category-k-w-brown-investments"],"yoast_head":"\nK.W. Brown & Company, K.W. 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