Tag Archives: Boca Raton Securities Fraud Attorney
Investment Adviser Admits It Failed to Stop Ex-President from Stealing Client Funds
Investment advisers and other professionals who handle investor funds have a legal duty to ensure their employees and agents do not misappropriate those funds for personal use. An investment adviser registered with the U.S. Securities and Exchange Commission must “adopt and implement written policies and procedures reasonably designed to prevent” violations of federal securities… Read More »
Federal Judge Sentences Jacksonville Ponzi Scheme Operator Who Defrauded Retired Teachers
On June 12, a federal judge in Jacksonville sentenced the former operator of a Ponzi scheme to 10 years in prison. Anderson Scott Hall previously pleaded guilty to four felony charges of wire fraud, mail fraud and money laundering in late 2013. The United States Attorney’s Office in Jacksonville recommended the 10-year sentence, which… Read More »
The Risks of Self-Directed Individual Retirement Accounts
Millions of Americans rely on Individual Retirement Accounts (IRAs) to save for their retirement. IRAs are a type of restricted savings account where the owner receives certain tax benefits. For example, in a traditional IRA, you may contribute a certain amount each year (up to $5,500 if you are under the age of 50)… Read More »
SEC Charges Atlanta Broker With Defrauding Public Employee Pension Funds
Millions of state and local government employees depend on public pension systems to safeguard their retirement. Florida itself operates the fourth-largest public pension system in the country. And when unethical investment advisers try to take advantage of public pension systems by recommending unsuitable uses for pension funds, workers and retirees may be put at… Read More »
SEC Charges Rhode Island Broker With Running $11 Million Ponzi Scheme
On May 7, the U.S. Securities and Exchange Commission charged a Rhode Island investment adviser with running what amounted to a Ponzi scheme. The SEC alleges Patrick Churchville used his one-man company, ClearPath Wealth Management, LLC, to defraud investors out of millions of dollars. The SEC has asked a federal judge in Providence to… Read More »
SEC Charges Texas Army Veteran With Defrauding Fellow Servicemen
On April 13, the U.S. Securities and Exchange Commission charged Leroy Brown, Jr., of Killeen, Texas, with securities fraud. The SEC said Brown, a 12-year veteran of the U.S. Army, conducted a “fraudulent scheme to lure current and former U.S. military personnel and others to invest with him and his firm.” A federal judge… Read More »
SEC, Prosecutors Charge JPMorgan Adviser With Embezzling $20 Million In Client Funds
On April 16, the U.S. Securities and Exchange Commission and federal prosecutors in New York City charged a former JPMorgan Chase investment advisor with defrauding clients out of more than $20 million. The New York Times reported JPMorgan officials “alerted federal authorities to the apparent theft and misuse of client money.” The accused, Michael… 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 »
Feds Charge Son-in-Law of Prominent New York Politician With Securities Fraud
On April 13, federal prosecutors in New York City charged a Brooklyn man with scheming to defraud investors out of more than $7 million. The U.S. Attorney’s Office in Manhattan claims Marcello Trebitsch, also known as Yair Trebitsch, promised to invest customer funds while actually appropriating money for himself. Trebitsch is married to the… Read More »
Supreme Court Says Company May Be Sued For Omitting Facts Which Contradict “Opinions”
On March 24, the U.S. Supreme Court issued a major decision related to securities fraud. The justices addressed the legal standards necessary for shareholders to sue companies for allegedly misleading statements contained in official securities filings. The Court’s decision opens the door for a more permissive standard that could benefit shareholders in the long… Read More »
