The self-regulatory organization (SRO) found that the firm’s weak supervision of consolidated reports enabled one ex-broker to run a $1M Ponzi scam that harmed customers.

we have collectively recovered many millions of dollars for thousands of clients related to: Alternative investments Stocks and Bonds Real estate investment trusts (REITs) and Non-traded REITs Private Placements Annuities Oil and Gas investments Trading strategies that were too risky ...

over losses caused by: Misappropriation Broker fraud Misrepresentations and Omissions Negligence Unregistered securities sales Other registration violations Failure to execute trades Churning Unsuitability Overconcentration Unauthorized trading Breach of contract Breach of fiduciary duty Failure to supervise Different kinds of investment ...

Brokers also have a duty to ensure that an investment is legitimate and not part of a Ponzi scam or another type of fraud. Unfortunately, many investment losses happen because a registered representative made an unsuitable recommendation or left out ...

At that time, the stock market in the United States was not federally regulated and, as a result, many scams had been perpetrated on the investing public. In response, Congress passed the Exchange Act with the intention of protecting investors ...

The latter, a New York-based alternative asset firm, was sued by the SEC for allegedly operating an over $1.8B Ponzi scam.

Over Alleged $110M Ponzi Scam On August 1, 2021, investors filed a securities fraud lawsuit against Oppenheimer over the investment losses they sustained in an alleged Ponzi scam involving ex-broker John J. Woods. The former Georgia financial advisor is also ...

Another ex-Newbridge broker, Gerald Cocuzzo, pleaded guilty to securities fraud involving a $131M Ponzi scam in 2016.

Nelson Partners owner Patrick Nelson is accused of allegedly running a Ponzi-like scam and using proceeds from the 2019 deal to invest in other ventures while turning a profit. Besides that, hedge fund Axonic Capital, which provided millions to help ...

Bennett, also of Bennett Group Financial, allegedly ran a $20M Ponzi Scam. She was sentenced to 20 years in prison in 2019.