Tag Archives: Boca Raton Investment Fraud Lawyers
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 »
SEC Fines Broker $10 Million for Laundering Penny Stocks
On January 27th, the U.S. Securities and Exchange Commission said New York-based broker Oppenheimer & Co., Inc., admitted to multiple violations of federal securities laws and agreed to pay a $10 million civil penalty. The SEC’s order cited two series of illegal activities by Oppenheimer. Both involved Oppenheimer acting as an intermediary for unregistered… 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 »
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 »
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 »
Fort Myers Pair Plead Guilty to Criminal Ponzi Scheme
On Dec. 8, the United States Attorney’s office in Miami announced two Fort Myers residents had pleaded guilty to criminal charges in connection with a real estate-based Ponzi scheme. According to prosecutors, Barry J. Graham and Ricky Lynn Stokes took approximately $300 million from 1,400 investors over a four-year period. Graham, Stokes and three… Read More »
Prosecutors Extradite Accused Ponzi Scheme Operator from Brazil to Florida
On Dec. 8, former Miami Beach concert promoter Jack Utsick made his first appearance in federal court on eight counts of mail fraud related to a Ponzi scheme he ran for nearly 10 years. Utsick previously settled civil charges with the U.S. Securities and Exchange Commission related to the scheme. But four years ago,… Read More »
“Free Lunch” Investment Seminars Not Always Only About Education
According to “Save and Invest”—a website and newsletter run by FINRA’s Investor Education Foundation—over 6 million Americans 55 and above have attended a “free lunch investment seminar.” But as FINRA also notes that these seminars are often less about education than they are about sales. “[A]ttendees are often pressured into making unsuitable—or even fraudulent—investments,”… Read More »
