South Florida Precious Metals Fraud, Misrepresentation and Breach of Fiduciary Duty Litigation and Arbitration Attorney: The Manhattan District Attorney’s Office recently announced that three Florida men who operated an investment scheme through a precious metals company have been indicted in New York City on charges they defrauded scores of investors…
Short-Term Bond and Common Stock Investment Loss – South Florida FINRA Arbitration and Litigation Attorney: A Short-Term Bond Fund is a bond mutual fund which invests in short-to-intermediate term bonds. Such bonds typically mature in 3 to 5 years and pay higher yields than the shortest maturity bonds of 1…
Philip Falcone and Harbinger Capital Agree to Settlement: The Securities and Exchange Commission (“Commission”) recently announced that New York-based hedge fund adviser Philip A. Falcone and his advisory firm Harbinger Capital Partners have agreed to a settlement in which they must pay more than $18 million and admit wrongdoing. Falcone…
South Florida Retirement and Elder Care Misappropriation and Theft FINRA Arbitration and Litigation Attorney: Securities and Exchange Commission v. Blake Richards, Civil Action No. 1:13-CV-1729 (N.D. Ga.) Federal Court Permanently Enjoins Atlanta-Area Registered Representative Blake Richards from Securities Fraud Violations Recently, the Honorable Julie E. Carnes of the United States District…
South Florida Microcap and Penny Stock Fraud and Investment Loss FINRA Arbitration and Litigation Attorney: The Securities and Exchange Commission (“Commission”) recently announced that it charged two microcap companies, their CEOs, and one penny stock promoter for spearheading illegal kickback schemes. The Commission also charged two other microcap companies, their CEOs,…
The Securities and Exchange Commission Charges Two J.P. Morgan Traders with Fraudulently Overvaluing Investments To Conceal Losses The Securities and Exchange Commission (“Commission”) recently charged two former traders at JPMorgan Chase & Co. with fraudulently overvaluing investments in order to hide massive losses in a portfolio they managed. The SEC alleges…
Cash Basis of Accounting, Accrual Method of Accounting and Modified Cash Basis: South Florida Accounting Negligence and Breach of Contract Commerical Litigation Attorney, Russell L. Forkey, Esq. The Cash Basis accounting method recognizes revenues when cash is received and recognizes expenses when cash is paid out. In contrast, the Accrual…
SEC Obtains Asset Freeze and Other Relief in $4 Million Offering Fraud Recently, the Securities and Exchange Commission (“Commission”) obtained a temporary restraining order and an emergency asset freeze in a $4 million offering fraud and Ponzi scheme orchestrated by Steven B. Heinz (Heinz) and his company S.B. Heinz &…
SEC Halts Ex-Marine’s Hedge Fund Fraud Targeting Fellow Military The Securities and Exchange Commission (the” Commission”) recently obtained an emergency court order to halt a hedge fund investment scheme by a former Marine living in the Chicago area who has been masquerading as a successful trader to defraud fellow veterans,…
SEC Charges Bank of America Entities with Material Misrepresentations and Omissions in Connection with an RMBS Offering Recently, the Securities and Exchange Commission (“Commission”) filed a civil injunctive action against Bank of America, N.A. (BANA), Banc of America Mortgage Securities, Inc. (BOAMS), and Merrill Lynch, Pierce, Fenner & Smith, Inc. f/k/a…