Securities and Securities Fraud

Regions Bank, Thomas Neely, Jr., Jeffrey Kuehr, Michael Willoughby – South Florida Accounting Fraud and Negligence Litigation and Arbitration Attorney

Published on: June 27, 2014 | By Russell L. Forkey, P.A.

SEC Announces Fraud Charges Against Three Former Regions Bank Executives in Accounting Scheme

The Securities and Exchange Commission recently announced fraud charges against three former senior managers of Regions Bank for intentionally misclassifying loans that should have been recorded as impaired for accounting purposes. As a result, the bank’s publicly-traded holding company overstated its income and earnings per share in its financial reporting.

The SEC also entered into a deferred prosecution agreement with Regions Financial Corp., which substantially cooperated with the agency’s investigation and undertook extensive remedial actions. Regions will pay a total of $51 million to resolve parallel actions by the SEC, Federal Reserve Board, and Alabama Department of Banking.

Dawson James Securities, Inc. – Boca Raton, Florida Broker/Dealer Sales Practice Violations FINRA Arbitration and Litigation Attorney

Published on: June 27, 2014 | By Russell L. Forkey, P.A.

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:

June 2014 Disciplinary and Other FINRA Actions

Boca Raton, Florida Advance Fee High-Yield Investment Scam Litigation and FINRA Arbitration Litigation Attorney

Published on: June 27, 2014 | By Russell L. Forkey, P.A.

Boca Raton, Lantana, Lake Worth, Delray Beach and Boynton Beach, Florida High Yield Investment Scam Litigation and FINRA Arbitration Litigation Attorney:

Securities and Exchange Commission v. Cheryl L. Robinson, Civil Action No. 2:14-cv-1036 (D. Nev. June 26, 2014)

SEC Files Settled Charges Against Arizona Resident in Prime Bank Investment Scheme

Weston Capital Asset Management and Albert Hallac – South Florida Hedge Fraud and Mismanagement FINRA Arbitration and Litigation Attorney

Published on: June 25, 2014 | By Russell L. Forkey, P.A.

West Palm Beach, Lake Worth, Delray Beach, Boca Raton and Pompano Beach, Florida – Hedge Fund Fraud and Mismanagement FINRA Arbitration and Litigation Attorney:

Securities and Exchange Commission v. Weston Capital Asset Management LLC, et al., Civil Action No. 14-cv-80823 (S.D. FL)

The Securities and Exchange Commission recently filed a civil action in the United States District Court for the Southern District of Florida against Weston Capital Asset Management LLC and its founder and president Albert Hallac of Palm Beach, Florida, for violations of antifraud provisions, and against the firm’s former general counsel, chief compliance officer, and chief operating officer Keith Wellner of New York, New York for aiding and abetting violations. The complaint also names Hallac’s son, Jeffrey Hallac, a managing member at Weston Capital, as a relief defendant.

Carolina Financial Securities, LLC – South Florida Private Placement Fraud and Mismanagement FINRA Arbitration and Litigation Attorney

Published on: June 25, 2014 | By Russell L. Forkey, P.A.

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:

June 2014 Disciplinary and Other FINRA Actions

World Trade Financial Corporation – Fort Lauderdale, Florida Section 5 and Unregistered Sale of Securities FINRA Arbitration and Litigation Attorney

Published on: June 25, 2014 | By Russell L. Forkey, P.A.

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:

June 2014 Disciplinary and Other FINRA Actions

Your Best Memories and Robert Hurd – South Florida Ponzi Scheme and Securities Fraud FINRA Arbitration and Litigation Attorney

Published on: June 12, 2014 | By Russell L. Forkey, P.A.

South Florida, including Fort Lauderdale, Boynton Beach, West Palm Beach, Boca Raton and Deerfield Beach Ponzi Scheme and Securities Fraud FINRA Arbitration and Litigation Attorney:

Securities and Exchange Commission v. Robert Hurd, Your Best Memories International Inc. and Kenneth Gross, Civil Action No. 13-CV-04464-RGK (JCGx) (C.D. Cal. June 20, 2013)

Court Orders California Company and Its President to Pay Over $1.9 Million in Investment Scheme Involving Purported Alzheimer’s Treatment

FAQs Equity Indexed Annuities – Boca Raton, Florida Annuity Twisting and Fraud FINRA Arbitration and Litigation Attorney

Published on: June 11, 2014 | By Russell L. Forkey, P.A.

Equity Indexed Annuities – Boca Raton, Deerfield Beach, Lighthouse Point, Delray Beach and West Palm Beach, Florida Annuity Twisting and Fraud FINRA Arbitration and Litigation Attorney:

An equity indexed annuity is a fixed annuity, either immediate or deferred, that earns interest or provides benefits that are linked to an external equity reference or an equity index. The value of the index might be tied to a stock or other equity index. One of the most commonly used indices is the Standard & Poors 500 Composite Stock Price Index, which is an equity index. The value of any index varies from day to day and is not predictable. When you buy an equity indexed annuity you own an insurance contract. You are not buying shares of any stock index.

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 providing legal or investment advice. If you have any questions concerning the contents of this post, you should contract a qualified professional.

Richard Olive, Susan Olive and We The People, Inc. – Fort Lauderdale and Boca Raton, Florida Charitable Fraud Litigation and Arbitration Attorney

Published on: May 29, 2014 | By Russell L. Forkey, P.A.

South Florida, including Fort Lauderdale, Pompano Beach, Margate, Lighthouse Point, Deerfield Beach and Boca Raton Charitable Gift Fraud and Misrepresentation and Elder Abuse and Exploitation FINRA Arbitration and Litigation Attorney:

Securities and Exchange Commission v. Richard K. Olive and Susan L. Olive, Civil Action No. 2:13-civ-14047 (S.D. Fla.); Securities and Exchange Commission v. William G. Reeves, Esq., Civ. No. 2:13-cv-14048 (S.D. Fla.)

Husband and Wife Agree to $2 Million Settlement in Florida-Based Charity Fraud Case

Neal V. Goyal – Boca Raton, Florida Investment Fund Manager Fraud and Mismanagement FINRA Arbitration and Litigation Attorney

Published on: May 29, 2014 | By Russell L. Forkey, P.A.

South Florida, including Boca Raton, Deerfield Beach, Coral Springs, Delray Beach and Boynton Beach Investment Fund Manager Fraud and Ponzi Scheme FINRA Arbitration and Litigation Attorney:

Securities and Exchange Commission v. Neal V. Goyal, et al., Civil Action No. 1:14-cv-03900 (N.D. Illinois)

SEC Charges Chicago-Based Investment Fund Manager with Stealing Investor Money and Conducting Ponzi Scheme