Tag Archives: Boca Raton Investment Fraud Attorneys
Do You Know Who You Are Investing With?
In a recent Investor Alert, the U.S. Securities and Exchange Commission warned, “In order to attract unsuspecting investors and gain their trust, fraudsters may boast about credentials they do not have.” Indeed, a key part of many securities fraud schemes is the operator’s ability to mislead investors about his or her expertise and track… Read More »
SEC Halts “Prime Bank” Scheme Targeting Construction Industry
On May 14, the U.S. Securities and Exchange Commission filed a civil complaint against six individuals and several companies accused of participating in a scheme to sell non-existent financial instruments to unsuspecting investors seeking financing for construction projects. SEC v. North Star Finance LLC According to the SEC’s complaint, in February 2014, Thomas Ellis,… Read More »
Court Upholds $120 Million Judgment Against Man Who Sold Fake Promissory Notes
On May 21, a federal appeals court in Ohio upheld a $120 million civil judgment against a man charged by the U.S. Securities and Exchange Commission with defrauding investors in Florida and Michigan out of millions of dollars. The defendant, Joseph Paul Zada, posed as a wealthy oil investor soliciting new investors. In fact,… Read More »
Identifying and Protecting Against Elder Financial Abuse
Financial abuse of the elderly is a serious problem in Florida and throughout the country. Many elderly persons exhibit signs of diminished capacity to manage their own finances. Unscrupulous relatives and would-be financial advisers often take advantage of such persons. Planning to Avoid Elder Abuse through Estate Planning In a recent Investor Bulletin, the… Read More »
SEC Charges LA Company With $100 Million “Life Settlements” Fraud
Many of us take out life insurance policies to provide for family members in the event of our death. But life insurance can also be bought and sold like a security. “Life settlements” are a common device used to sell life insurance policies to third parties. For example, let’s say you have a life… Read More »
SEC Announces Million-Dollar Whistleblower Award to Compliance Officer
Washington D.C., April 22, 2015 — The Securities and Exchange Commission today announced an award of more than a million dollars to a compliance professional who provided information that assisted the SEC in an enforcement action against the whistleblower’s company. The award involves a compliance officer who had a reasonable basis to believe that… Read More »
Ex-Miami Dolphins Player Accused of Running Ponzi Scheme
Miami Dolphins fans may remember Will Allen’s five-year stint with the team as a defensive back. Allen played 11 seasons altogether in the NFL, ending his career with the New England Patriots in 2012. However, Allen’s time in New England was not exclusively devoted to football; he also co-founded a group of investment companies… Read More »
FINRA Launches Toll-Free FINRA Securities Helpline for Seniors
FINRA News Report – Monday, April 20, 2015 WASHINGTON—The Financial Industry Regulatory Authority (FINRA) has launched the toll-free FINRA Securities Helpline for Seniors™ to provide older investors with a supportive place to get assistance from knowledgeable FINRA staff related to concerns they have with their brokerage accounts and investments. Senior investors can call FINRA’s new toll-free… Read More »
Missing Boater Returns: Former Boca Financial Adviser was Listed as Missing Two Weeks Ago
By Matt Morgan, Palm Beach Post Staff Writer mmorgan@pbpost.com A boater who went missing about two weeks ago has returned to his home and admitted that he orchestrated his disappearance to escape his legal problems, according to the Palm Beach County Sheriff ’s Office. Richard Ohrn, 44, went missing off the coast of Boca Raton… Read More »
Final Defendant Sentenced in Massive North Carolina Ponzi Scheme
Earlier this year, a federal judge in North Carolina sentenced the 11th and final defendant in a massive Ponzi scheme that cost investors upwards of $40 million. The so-called Black Diamond Ponzi Scheme conned about 400 victims with promises of significant profits through trading in foreign currencies. Unlike traditional securities markets, foreign exchange (or… Read More »