South Florida Arbitration & Litigation Lawyer BlogFlorida 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
Articles Posted in Securities and Securities Fraud
John Rizzo – Florida Penny Stock Boiler Room and Market Manipulation FINRA Arbitration and Litigation Attorney
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 scheme.
Cort Poyner and Mohammad Dolah – Florida Common and Penny Stock Manipulation and Fraud FINRA Arbitration and Litigation Attorney
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 bribery scheme designed to manipulate the market for the common stock of Resource Group International, Inc. (“Resource Group”) and Gold Rock Resources Inc. (“Gold Rock”).
Premium Bond – Florida Municipal, Corporate and Revenue Bond Fraud, Misrepresentation and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney
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 premium bond if it sold for $1,100. This price does not include any accrued interest due when the bond is purchased. When a premium bond is called before scheduled maturity, bondholders are usually paid more than face vale, though the amount may be less than the bond is selling for at the time of the call.
Please keep in mind that the above information is being provided for educational purposes only. Thus, it is not designed to be complete in all material respects. It should not be relied upon as legal or investment advice. If the reader has any questions concerning this post, you should contact a qualified professional.
Preliminary Prospectus (Official Statement) – South Florida Fraudulent and Misleading Offering Document FINRA Arbitration and Litigation Attorney
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 but does not contain all of the information that will appear in the final prospectus, and parts of the document may be changed before the final prospectus is issued.
Please keep in mind that the above information is being provided for educational purposes only. Thus, it is not designed to be complete in all material respects. Further, this post should not be relied upon as legal or investment advice. If the reader has any questions concerning the contents of this post, you should contact a qualified professional.
Put and Call Option Premium – South Florida Option Abuse, Misrepresentation and Negligent Supervision FINRA Arbitration and Litigation Attorney
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 the underlying stock, or a naked option, if he or she does not own the stock. An investor who sells options to collect premium income hopes that the underlying stock will not rise very much ( in the case of a call) or fall very much (in the case of a put).
Please keep in mind that the above information is being provided for educational purposes only. Thus, it is not designed to be complete in all material respects. It should not be relied upon as legal or investment advice. If the reader has any questions relative to this post, you should contact a qualified professional.
City of Miami and Michael Boudreaux – South Florida (Miami) Municipal Bond Offering Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney
City of Miami and Michael Boudreaux – South Florida (Miami) Municipal Bond Offering Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney:
Securities and Exchange Commission v. City of Miami, Florida, and Michael Boudreaux, Civil Action No. 1:13-cv-22600 (U.S. District Court for the Southern District of Florida, filed July 19, 2013)
The Securities and Exchange Commission announced that it recently charged the City of Miami and its former Budget Director with securities fraud in connection with several municipal bond offerings and other disclosures made to the bond investing public. The SEC’s action also charges the City with violating a 2003 SEC Cease-and-Desist Order which was entered against the City based on similar misconduct. This case is the SEC’s first ever injunctive action against a municipality already under an existing SEC cease-and-desist order.
Steven J. Brewer – South Florida Promissory Note Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney
In the Matter of Steven J. Brewer:
On July 12, 2013, the Securities and Exchange Commission announced the issuance of an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 (Exchange Act) and Section 203(f) of the Investment Advisers Act of 1940 (Advisers Act), Making Findings and Imposing Remedial Sanctions (Order) against Steven J. Brewer.
The Order finds that from June 2009 through October 2010, Steven J. Brewer was engaged in the business of effecting transactions in securities for the accounts of others by offering and selling promissory notes to investors. During that time, Brewer was associated with a registered broker dealer and with a registered investment adviser. On April 22, 2013, a judgment was entered by consent against Brewer, permanently enjoining him from future violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder and from aiding and abetting future violations of Section 15(c) of the Exchange Act and Sections 206(1) and 206(2) of the Advisers Act, in the civil action entitled Securities and Exchange Commission v. Steven Brewer, et al., Civil Action Number 10-cv-6932-BMM-AK, in the United States District Court for the Northern District of Illinois. The Commission’s complaint alleged that, from June 2009 through at least the end of September 2010, Brewer and others participated in fraudulent, unregistered offerings of promissory notes issued by FPA Limited, an Isle of Man company, in the aggregate amount of $5.6 million to at least 74 investors. The offering materials created and used for the offerings misrepresented the risk of the investment and misrepresented the use of proceeds of the offering. The complaint alleged that Brewer originated the fraudulent offerings and participated in creating the fraudulent offering documents. Brewer also controlled the bank account into which the proceeds of the offerings were deposited and then disbursed, primarily to BIG.
Johnny Clifton – Florida Oil and Gas Limited Partnership Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney
The Securities and Exchange Commission Sanctions Johnny Clifton for Antifraud and Failure to Supervise Violations
The Securities and Exchange Commission (Commission) recently announced that it barred Johnny Clifton, who was president, chief executive officer, and principal of MPG Financial, LLC, a former Commission-registered broker-dealer, from associating with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization, entered a cease-and-desist order, and imposed a $150,000 third-tier civil money penalty. The Commission found that Clifton violated Sections 17(a)(1), 17(a)(2), and 17(a)(3) of the Securities Act of 1933 because he made material misrepresentations and omissions in the offer and sale of oil-and-gas limited partnership interests, and through those misrepresentations, omissions, and other misconduct he engaged in a fraudulent scheme and course of business that operated as a fraud on prospective investors. The Commission also found that Clifton violated Section 15(b) of the Securities Exchange Act of 1934 because he failed reasonably to supervise at least one MPG Financial sales representative with a view towards detecting and preventing the sales representative’s securities law violations. Concluding that it was in the public interest to impose a full collateral bar on Clifton, the Commission stated that “[h]is repeated and egregious misconduct evidences an unfitness to participate in the securities industry that goes beyond the professional capacity in which he was acting” and “demonstrates his unfitness to participate in the securities industry in any capacity.”
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Yield To Maturity (YMT) – South Florida Fixed Income Breach of Fiduciary Duty, Negligent Supervision and Fraud FINRA Arbitration and Litigation Attorney
Yield to Maturity (YTM) – South Florida Breach of Fiduciary Duty, Negligent Supervision and Breach of Contract Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq.
“Yield to Maturity” is a concept used to determine the rate of return an investor will receive if a long-term, interest-bearing investment, such as a bond is held to it maturity date. It takes into account the purchase price, redemption value, time to maturity, coupon yield, and the time between interest payments. Recognizing time value of money, it is the discount rate at which the present value of all future payments would equal the present price of the bond, also known as the internal rate of return. It is implicitly assumed that coupons are reinvested at the yield to maturity date.
Please keep in mind that the above referenced post 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 contact a qualified professional.