Recent Blog Posts
Understanding the FINRA Arbitration Process
What happens when there is a dispute between you and your investment broker? When you open a brokerage account, you typically sign some sort of customer agreement. This agreement usually contains language requiring arbitration to resolve any disagreement or dispute arising from your account. But what does “arbitration” actually mean? Arbitration and FINRA Arbitration… Read More »
Miami Prosecutors Secure Guilty Plea from Precious Metals Scam Operator
Federal prosecutors recently uncovered yet another precious metals scam. On January 9th, 2015, the U.S. Attorney’s office in Miami announced a plea agreement with Christopher Anzalone, a California resident who confessed to defrauding investors out of millions of dollars with false promises of profits trading in gold, platinum and other precious metals. Anzalone faces… Read More »
SEC Charges Fort Lauderdale Broker With Running Ponzi Scheme
On January 15th, the U.S. Securities and Exchange Commission filed a civil lawsuit against a Fort Lauderdale man and various entities under his control. The SEC accuses Frederic Elm of running a Ponzi scheme, defrauding dozens of investors out of more than $17 million. A federal judge has already agreed to freeze Elm’s assets… Read More »
Judge Allows SEC Case Against Accused Oil & Gas Scam to Proceed
On December 31, 2014, a federal judge in Dallas denied a motion to dismiss a Securities and Exchange Commission complaint against a Texas man accused of defrauding investors out of nearly $10 million. SEC v. Couch The defendant, Charles Couch, owns Couch Oil & Gas, Inc. (COG) According to the SEC’s complaint, Couch and… Read More »
Precious Metals Just as Risky as Other Investments
Gold, silver and other precious metals are often considered “safe” investments relative to stocks and securities. But there is no such thing as a no-risk investment. Precious metals are subject to price fluctuations like any other investment. More importantly, not all precious metal investments are the same. Often, people purchase gold and silver through… Read More »
The Basics of “Secured Notes”
Investors should always be skeptical about complicated-sounding investments that promise to minimize or eliminate risk. One such type of investment is known as a “structured note.” This describes any hybrid security that includes multiple financial products. Structured Notes Structured notes are linked to some other index or security. Here is a simple example of… Read More »
How Do I Get My Money Back?
Investment fraud is sadly commonplace. Every year people fall victim to Ponzi schemes, insider trading, corporate misconduct, “boiler rooms,” and other types of securities fraud. If you are the customer at the losing end of such scams, your first question will be, “Can I get my money back?” The answer is often not so… Read More »
FBI Arrests Alt Fund Manager on Securities Fraud Charges
A traditional mutual fund buys and holds securities, such as stocks or bonds. But in recent years, many investors have flocked to so-called alternative mutual funds (alt funds), which rely on one or more non-traditional investments or trading strategies. Although similar to hedge funds, alt funds are still considered mutual funds, which means they… Read More »
SEC Charges Broker with Making False Sales of Facebook, Twitter Shares
Many investors hope to strike it big by investing in a hot initial public offering (IPO). But high demand for an IPO can also open the door for unscrupulous brokers to take advantage of investors. Recently the U.S. Securities and Exchange Commission filed a civil lawsuit against a California stockbroker accused of falsely promising… Read More »
SEC Charges New York Real Estate Investor with Securities Fraud
On December 12th, the U.S. Securities and Exchange Commission charged a New York man with securities fraud in connection with his now-bankrupt real estate investment company. The SEC claims David L. Fleet, former owner of Cornerstone Homes, Inc., cheated over 300 “mostly elderly, unsophisticated investors” out of more than $16 million. The SEC is… Read More »
