South Florida Internet Ponzi Scheme and Securities Fraud and Misrepresentation FINRA Arbitration and Florida State and Federal Litigation Attorney:
Securities and Exchange Commission v. Timothy J. Coughlin, et al., Civil Action No. 1:14-cv-00562-WTL-MJD (S.D. Ind.)
SEC Charges Indiana Man for Defrauding Investors in “Credit Union” Ponzi Scheme
Florida Broker/Dealer and Investment Advisor Securities Fraud, Misrepresentation and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney:
SEC Charges Brokerage Firm Executives in Kickback Scheme to Secure Business of Venezuelan Bank
The Securities and Exchange Commission recently announced another round of charges in its ongoing case against several individuals involved in a massive kickback scheme to secure the bond trading business of a state-owned Venezuelan bank.
South Florida, including Hollywood, Fort Lauderdale, Pompano Beach, Deerfield Beach, Boca Raton and Delray Beach, Florida Investment Advisor Fraud and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney:
The Securities and Exchange Commission recently announced charges against a San Diego-based investment advisory firm, its chief executive officer, chief compliance officer, and another employee for misleading investors and breaching their fiduciary duties to clients.
The SEC’s Enforcement Division alleges that Total Wealth Management and its owner and CEO Jacob Cooper entered into undisclosed revenue sharing agreements through which they paid themselves kickbacks or so-called “revenue sharing fees.” They failed to disclose to clients the conflicts of interest created by these agreements as they recommended the underlying investments to clients and investors in the Altus family of funds. Total Wealth and Cooper also materially misrepresented the extent of the due diligence conducted on the investments they recommended. Total Wealth’s CCO Nathan McNamee and investment adviser representative Douglas Shoemaker also breached their fiduciary duties and defrauded clients by failing to disclose conflicts of interest and concealing the kickbacks they received from the investments they recommended.
South Florida, including Dade, Monroe, Broward and Palm Beach County, Florida Social Media and Hedge Fund Misrepresentation of Credentials and Trading Experience FINRA Arbitration and Litigation Attorney:
The Securities and Exchange Commission recently announced fraud charges against a Honolulu woman posing as an investment banker and soliciting investors through Twitter, Facebook, and other social media.
An SEC investigation found that Keiko Kawamura engaged in two separate fraudulent schemes to raise money from investors while casting herself as an investment and hedge fund expert when in fact she had virtually no prior trading experience. In one scheme, she sought investors for her self-described hedge fund and posted on Twitter some screenshots of brokerage account statements suggesting she was personally obtaining incredible investment returns. However, the account statements were not hers. And instead of investing the money she raised from investors, she spent it on her own living expenses and luxury trips to Miami and London. In a later scheme, Kawamura continued to boast phony experience to attract investors to her subscription service for investment advice. She falsely told subscribers that she had been in the investment banking industry for nearly a decade and had achieved 800 percent returns in her personal brokerage account.
Securities and Exchange Commission v. JCS Enterprises, Inc. et al., Civil Action No. 14-civ-80468 (S.D. Fla.) (April 7, 2014)
SEC, Criminal Authorities Halt Florida Ponzi Scheme Targeting Investors in Virtual Concierge Machines
Securities and Exchange Commission v. World Capital Market Inc., et al., Civil Action No. CV14-2334-CAS (MRWx)
South Florida Pyramid Scheme, Ponzi Scheme and Affinity Fraud Litigation and Arbitration Attorney:
SEC Halts Los Angeles- and Hong Kong-Based Pyramid Scheme Targeting Asian and Latino Communities
South Florida Broker/Dealer and Account Executive Elder, Senior and Retirement Financial Abuse and Exploitation, Negligent Supervision, Breach of Fiduciary and Unapproved Outside Business Activity (Selling Away) FINRA Arbitration, Litigation and Probate Attorney:
The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute an enforcement action, firms and licensed individuals have the responsibility to reflect such action on their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.
The monthly disciplinary information is referenced on the FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:
South Florida Broker/Dealer and Account Executive Elder, Senior and Retirement Financial Abuse and Exploitation, Negligent Supervision, Breach of Fiduciary and Theft FINRA Arbitration, Litigation and Probate Attorney:
The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute an enforcement action, firms and licensed individuals have the responsibility to reflect such action on their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.
The monthly disciplinary information is referenced on the FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:
South Florida Broker/Dealer Negligent Supervision, Breach of Fiduciary, Selling Away and Unapproved Outside Business Activity FINRA Arbitration and Litigation Attorney:
The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute an enforcement action, firms and licensed individuals have the responsibility to reflect such action on their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.
The monthly disciplinary information is referenced on the FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:
Florida Securities Excessive Activity (Churning), Breach of Fiduciary Duty and Negligent Supervision FINRA Arbitration and Litigation Attorney:
The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute an enforcement action, firms and licensed individuals have the responsibility to reflect such action on their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.
The monthly disciplinary information is referenced on the FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:
South Florida Arbitration & Litigation Lawyer Blog