Tag Archives: Boca Raton Securites Fraud Lawyer
Florida Man Settles SEC Charges Arising from “Boiler Room” Scam
On August 21, a West Palm Beach resident agreed to settle charges brought by the U.S. Securities and Exchange Commission over his alleged operation of a “boiler room” fraud which reportedly scammed investors out of more than $1.5 million. According to a complaint filed by the SEC with a federal court in Philadelphia, Moshe… Read More »
SEC Stops Ponzi Scammer Selling Notes in Florida Software Company
Although all Ponzi schemes inevitably collapse, it can be years before investors (or regulators) catch up with the scammer. For example, the U.S. Securities and Exchange Commission recently charged a Texas man with running a Ponzi scheme for more than a decade. The alleged scheme centered on efforts to raise money for a Florida-based… Read More »
SEC, California Prosecutors Expose $2.6 Million Ponzi Scheme
Investors should always be cautious when dealing with unregistered investment advisors. Registration with the U.S. Securities and Exchange Commission and state officials are important tools that provide investors with access to critical information. It is far too easy for scammers to lure unsuspecting investors with fake credentials and non-existent investment products. SEC v. Moore… Read More »
Do You Know the Warning Signs of a Financial Scam?
Financial scammers often target retirees and the elderly. That it is why it is important to understand and identify the potential signs of financial fraud before you lose your life savings. The U.S. Securities and Exchange Commission recently issued an Investor Alert cautioning all seniors to look for five “red flags” which may indicate… Read More »
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 »
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 »
Texas Securities Regulators Order Unregistered Broker to Pay Back His Victims
Securities fraud and stockbroker fraud are not just federal matters. Florida and other states utilize their own securities regulators who are charged with protecting the public from unregistered and unlicensed brokers who defraud investors. For example, on April 7, the Texas State Securities Board (TSSB) announced a plea agreement with Robert P. McGann, an… Read More »
Michigan Real Estate Promoter Sentenced for Running Ponzi-Type Scheme
On April 24, a Michigan judge sentenced a former real estate promoter to prison after a jury convicted him in March of orchestrating what the state attorney general and the U.S. Securities and Exchange Commission described as a Ponzi scheme. Even at his sentencing hearing, Joel I. Wilson maintained he never intended to defraud… 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 »
Another Man Sentenced in Connection with Billion-Dollar Florida Ponzi Scheme
On Feb. 20, a federal judge in Miami sentenced former attorney Frank Preve to 3½ years in jail for his role in one of the most infamous Ponzi schemes of all time. Preve is among dozens of people convicted of criminal charges in connection with the scheme, which was orchestrated by the now-defunct law… Read More »
