Securities and Securities Fraud

Naked Short Selling Scheme – South Florida Securities and Investment Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney

Published on: January 31, 2014 | By Russell L. Forkey, P.A.

South Florida Naked Short Selling FINRA Arbitration and Litigation Attorney:

The Securities and Exchange Commission recently charged a pair of college professors in Tallahassee, Fla., with perpetrating a complex naked short selling scheme for more than $400,000 in illicit profits.

Abusive naked short selling occurs when shares are sold without having the shares to deliver, and then intentionally failing to deliver the securities within the standard three-day settlement period. An SEC investigation found that Gonul Colak and Milen Kostov repeatedly engaged in a series of sham transactions designed to perpetuate a naked short position as part of an elaborate options trading strategy. Colak and Kostov were required to deliver the securities underlying their short positions within the standard three days. Instead, their sham reset transactions created the illusion that they had delivered the underlying securities when in fact they had taken no steps to do so. They maintained the uncovered naked short positions and profited.

Broker/Dealer Fraud, Misrepresentation, Theft and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney

Published on: January 31, 2014 | By Russell L. Forkey, P.A.

Broker/Dealer Investment and Securities Fraud, Misrepresentation, Mismanagement, Theft and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney:

Securities and Exchange Commission v. David L. Rothman, et al., Civil Action No. 2:12-cv-05412 (E.D. Pa.)

Court Enters Final Judgment Against Broker in Settlement of Claims Arising from Fraudulent Misrepresentations and the Misappropriation of Funds

Berton M. Hochfeld and Hochfeld Capital Management, LLC. – South Florida Hedge Fund Mismanagement, Fraud and Breach of Fiduciary Duty Litigation and Arbitration Attorney

Published on: January 31, 2014 | By Russell L. Forkey, P.A.

South Florida Hedge Fund Mismanagement, Fraud and Breach of Fiduciary Duty Federal and State Court Litigation Attorney:

Securities and Exchange Commission v. Berton M. Hochfeld, et al., Civil Action No. 12-CV-8202 (S.D.N.Y.)

Final Judgments Entered Against Former Hedge Fund Manager and His Company

Equity Fund and Equity Manager Fruad and Mismanagement – South Florida Litigation and Arbitration Attorney

Published on: January 31, 2014 | By Russell L. Forkey, P.A.

Private Equity Fund and Private Equity Fund Management Mismanagement and Fruad – South Florida Federal and State Court Litigation and Arbitration Attorney:

SEC Charges Manhattan-Based Private Equity Manager With Stealing $9 Million in Investor Funds:

The Securities and Exchange Commission recently charged a Manhattan-based private equity manager and his firm with stealing $9 million from investors in their private equity fund.

Hedge Fund Fraud and Misrepresentation – South Florida Hedge Fund Fraud, Misrepresentation and Mismanagement Litigation and FINRA Arbitration Attorney

Published on: January 28, 2014 | By Russell L. Forkey, P.A.

Hedge Fund Fraud, Mismanagement and Misrepresentation – South Florida Litigation and AAA Arbitration Attorney:

Securities and Exchange Commission v. Berton M. Hochfeld, et al, Civil Action No. 12-CV-8202 (S.D.N.Y.)

Final Judgments Entered Against Former Hedge Fund Manager and His Company

Elder, Senior and Retirement Abuse and Exploitation – Ponzi Scheme – South Florida Securities and Investment Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney

Published on: January 28, 2014 | By Russell L. Forkey, P.A.

South Florida Elder, Senior and Retirement Financial Abuse and Exploitation FINRA Arbitration and Litigation Attorney:

Securities and Exchange Commission v. Palladino, et al., Civil Action No. 13-11024-DPW (United States District Court for the District of Massachusetts)

Commonwealth of Massachusetts v. Palladino, Crim. Action Nos. 13-10207, 13-10891; Commonwealth of Massachusetts v. Viking Financial Group, Inc., Crim. Action Nos. 13-10209, 13-10894 (Suffolk Superior Court)

Western Asset Management Company – South Florida Securities and Investment Fraud and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney

Published on: January 28, 2014 | By Russell L. Forkey, P.A.

Western Asset Management Company – South Florida Breach of Fiduciary Duty Cross Trading FINRA Arbitration and Litigation Attorney:

The Securities and Exchange Commission recently announced sanctions against a California-based investment adviser for concealing investor losses that resulted from a coding error and engaging in cross trading that favored some clients over others.

Western Asset Management Company, which is a subsidiary of Legg Mason, agreed to pay more than $21 million to settle the SEC’s charges as well as a related matter announced by the U.S. Department of Labor.

Senior, Retirment and Elder Financial Abuse and Exploitation – South Florida Investment and Financial Abuse and Exploitation FINRA Arbitration, Litigation and Probate Estate Attorney

Published on: January 23, 2014 | By Russell L. Forkey, P.A.

Elder, Senior and Financial Abuse and Exploitation FINRA Arbitration, Litigation and Probate Estate Attorney, Russell L. Forkey, Esq.

Extent of Elder Abuse Victimization:

We have been focusing recently or our website, www.forkeylaw.com and on this blog about various issues relating to elder, senior and retirement financial abuse and exploitation. This post is designed to provide some statistics which reflect the growing problems in this area of senior life.

Hybrid Elder and Senior Financial Exploitation and Abuse – South Florida Senior, Elder and Retirement Abuse and Exploitation Litigation, FINRA Arbitration and Probate Estate Attorney

Published on: January 23, 2014 | By Russell L. Forkey, P.A.

Hybrid Senior, Elder and Retirement Financial Abuse and Exploitation Arbitration, Litigation and Probate Estate Attorney, Russell L. Forkey, Esq.

Hybrid financial exploitation.

It has been determined that a relatively unrecognized situation, referred to as hybrid financial exploitation, arises when financial exploitation co-occurs with physical abuse and/or neglect. These cases typically involve financially dependent family members, particularly adult offspring, who have been cared for by the elderly person for years , if not decades. The abuse suffered by these elderly victims is frequently longstanding. Over time, however, as the elderly person’s health declines and the elderly person becomes more socially isolated, often as the result of the death of a spouse, the elderly person increasingly becomes more dependent on another family member for care, resulting in a mutual dependency, albeit with each member of the dyad experiencing a different type of dependency. Although sharing some features in common with physical abuse and neglect, hybrid financial exploitation cases are unique in many ways and tend to result in worse outcomes for elderly victims than result from other forms of elder maltreatment. These outcomes may be attributable to the additional stress associated with the financial loss that is experienced.

Support Level or Resistance Level – Florida Securities and Investment Mismanagement and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney

Published on: January 21, 2014 | By Russell L. Forkey, P.A.

Support Level or Resistance Level – South Florida, including West Palm Beach, Lake Worth, Delray Beach, Royal Palm Beach and Boynton Beach, Securities and Investment Mismanagement and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney:

A support level is a price level at which a security tends to stop falling because there is more demand for the security than supply. Technical analysts identify support levels as prices at which a particular security or market has bottomed in the past. When a stock is falling towards its support level, analysts say it is “testing its support” level and that the stock should rebound as soon as it hits the support price. If the security continues to drop through the support level, its outlook is considered bearish. The opposite of a support level is a resistance level.

Please keep in mind that the above information is being provided for educational purposes only. It is not designed to be complete in all material respects. Thus, it should not be relied upon as legal or investment advice. If the reader has any questions concerning the contents of this post, you should consult a qualified professional.