Tag Archives: Boca Raton Securities Fraud Lawyer
Deciding if a Financial Adviser Is Right for the Job
By PAUL SULLIVAN JUNE 10, 2016 A few years ago, the board that administers the certified financial planner designation decided to test the idea that investors will ask pointed questions of a prospective adviser and not be fooled by a slick presentation. So the Certified Financial Planner Board of Standards hired a professional D.J…. Read More »
Five Men Accused of Selling False Real Estate Investments
Many investors are looking for a way to get into the real estate market while minimizing their risk. There are a number of ways to do so, such as purchasing shares in a real estate investment trust, a company that manages properties and pays investors a share of the income. Unfortunately, the prospect of… Read More »
Alleged New York Insurance Scammers Face Civil, Criminal Charges
Insurance is often a vehicle for securities fraud. Scam artists lure investors with the promise of easy profits earned through the sale of various insurance products. But those promises often do not translate into reality, leaving investors to pick up the pieces. SEC v. Griffin The SEC recently charged two men with running just… Read More »
SEC Obtains Judgment Against Ex-Radio Host Who Ran Real Estate Ponzi Scheme
On July 17, the U.S. Securities and Exchange Commission obtained a civil judgment against two individuals who cheated investors and lenders out of nearly $7 million through a fraudulent real estate investment scheme. The SEC said the pair, together with a third person, “misappropriated millions of dollars raised from investors through the fraudulent sale… Read More »
Court Says Bankrupt Ex-Broker Must Still Pay Back Cheated Clients
When stockbrokers commit fraud, their affected clients and the U.S. Securities and Exchange Commission can recover damages through the courts. But what happens when the broker files for bankruptcy in an effort to get around such civil judgments? A recent decision by a Philadelphia appeals court offers one answer. SEC v. Bocchino Steven Bocchino… 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 »
SEC Cannot Be Sued for Failing to Stop Ponzi Scheme Sooner
Federal securities regulators are responsible for identifying and stopping fraud that harms investors. But what happens when the regulators act too late? Can the government be held responsible for the negligence of its own officials when they fail to act on obvious warning signs of securities fraud? A federal appeals court recently addressed this… 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 »
The Role of “Whistleblowers” in Securities Fraud Cases
Congress passed the Dodd-Frank Act (DFA) in 2010 in response to the post-2007 financial crisis. The DFA included a number of provisions designed to strengthen regulation of the securities and financial industries. One such provision involved the use of “whistleblowers” in securities fraud investigations. Broadly defined, a whistleblower is anyone who provides “information relating… Read More »
SEC Says Buffalo Man Running Ponzi Scheme
On Feb. 27, the U.S. Securities and Exchange Commission obtained an emergency order from a federal judge in Buffalo, freezing the assets of a venture capital fund manager accused of running a “Ponzi-like scheme.” Regulators believe the fund manager made false promises to investors about his ability to obtain pre-IPO shares of popular stocks… Read More »
