Articles Posted in FINRA Arbitration

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 & Associates, Inc. (S.B. Heinz), a…

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, current military, and other investors.…

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 Banc of America Securities…

Florida Collateralized Debt Obligation – FINRA Arbitration and Litigation Attorney: Pool Identification – ACA ABS 2007-2: UBS to Pay $50 Million to Settle SEC Charges of Misleading CDO Investors The Securities and Exchange Commission (“Commission”) recently charged UBS Securities with violating securities laws while structuring and marketing a collateralized debt obligation (CDO) by failing to…

Securities and Exchange Commission v. John G. Rizzo, Civil Action No. 13 CV 1801 MMA (BLM) (S.D. Cal. August 2, 2013) SEC Charges Penny Stock CEO in International Boiler Room Scheme The Securities and Exchange Commission recently announced charges against a penny stock company CEO in Boca Raton, Fla., for orchestrating an international boiler room…

Securities and Exchange Commission v. Cort Poyner and Mohammed Dolah, Civil Action No. 13 Civ. 4331 (SJ) (E.D.N.Y.) SEC Charges Stock Promoters with Market Manipulation The Securities and Exchange Commission recently announced that it filed a civil injunctive action against Cort Poyner (“Poyner”) and Mohammad Dolah (“Dolah”), alleging that they engaged in a fraudulent broker…

Taxable Municipal Bond – South Florida Bond Investment Fraud, Mismanagement and Misrepresentation, FINRA Arbitration and Litigation Attorney: A taxable municipal bond is a taxable debt obligation of a state or local governmental entity. Taxable municipal bond are issued as private purpose bonds to finance such projects as a sports stadium, as municipal revenue bonds where…

Municipal, Corporate and Revenue Bond – South Florida Breach of Fiduciary Duty, Breach of Contract and Negligence FINRA Arbitration and Litigation Attorney: A premium bond is a bond (Corporate, Revenue and Municipal) with a selling price above face or redemption value. For example, a bond with a face value of $1,000 would be called a…

Preliminary Prospectus, Preliminary Offering Document, Preliminary Official Statement – South Florida Fraud, Misrepresentation and Omission FINRA Arbitration and Litigation Attorney: A preliminary prospectus also known as a “red herring” is the first document released by an underwriter of a new issue to prospective investors. The document offers financial details and other information about the issue…

Put and Call Option Premium Income – South Florida Option Abuse, Excessive Activity, Breach of Fiduciary Duty, Negligent Supervision FINRA Arbitration and Litigation Attorney: Option premium income is income received by an investor who sells a put option or call option. An investor collects premium income by writing a covered option, if the investor owns…