Meyer Wilson

Recovering Losses Caused By Investment Misconduct

Blog Posts in June, 2010

Beware of Oil Spill Stock Scams

As Americans are still reeling from the aftermath of the Gulf of Mexico oil rig explosion, there has been a lot of concern over oil spill stock scams. Investors are being approached by scam artists ... Continue reading "Beware of Oil Spill Stock Scams" »
A bill that would significantly impact the financial industry was created last Friday, after endless hours of negotiation between the House and Senate regarding their separate versions. The Dodd-Frank ... Continue reading "Bill Calls for Study & Gives Authority to Restrict Arbitration" »
The disciplinary records of individuals licensed as investment adviser representatives (IARs) are now available online for the first time. Investors may now visit the U.S. Securities and Exchange ... Continue reading "Investment Advisers' Disciplinary Records Now Available Online" »
Approximately 20 years ago, Thomas Priore was playing the biggest game of his life as the quarterback of Harvard University. Unfortunately, he lost that game 34-19. The 41-year-old Mr. Priore now ... Continue reading "Former Harvard Quarterback Faces SEC Fraud Charges" »
Brokers make their earnings from commissions. The more trades they make the more income they earn. Unfortunately, this sometimes leads to a form of broker misconduct known as excessive trading. ... Continue reading "What You Need to Know About Excessive Trading Activity Claims" »
Early Friday morning, after weeks of negotiations, a House-Senate committee reached a reconciliation agreement on the financial reform bill. The agreed upon bill is broad in scope and includes, among ... Continue reading "Agreement Reached to Reconcile Financial Reform Bill" »
Detecting an investment scam is not always easy. Unfortunately, many investors are unaware of the fraud until they have lost their money. The NY Daily News recently posted an article entitled, 10 ... Continue reading "NY Daily News Explains Warning Signs of an Investment Fraud Scam" »
Boston-based LPL Financial has been sued by two Nebraska investors in a class action alleging the sale of unsuitable variable annuities in their retirement accounts. The lawsuit alleges that the ... Continue reading "LPL Financial Sued in ClassAction Over Variable Annuities" »
At least one in five Americans over the age of 65 has been the victim of financial abuse and/or financial fraud, according to a June 15, 2010 press release issued by the Investor Protection Trust. ... Continue reading "Survey: 1 in 5 Over Age 65 Likely to be Victims of Financial Fraud" »
On June 14, 2010, the U.S. Securities and Exchange Commission (SEC) announced that it was filing a formal action against Martin T. Wegener of Grand Rapids, Michigan as well as two companies he formed, ... Continue reading "Updated on Investigation: SEC Files Complaint Against Martin Wegener" »
The Financial Industry Regulatory Authority (FINRA) recently issued Regulatory Notice 10-06 regarding the use of blogs and social networking websites such as Facebook, Twitter, and LinkedIn by brokers ... Continue reading "FINRA Issues Compliance Guidelines Regarding Use of Blogs and Social Networking Websites" »
Last week, the United States Securities and Exchange Commission ("SEC") filed a complaint against several individuals charging that they perpetrated a $300 million Ponzi scheme, selling ... Continue reading "SEC Files Complaint to Halt $300 Million Ponzi Scheme Involving Supposed Gold Mining Investments" »
Investors are filing increased numbers of arbitration claims against investment firms for investment misconduct and fraud relating to the sales of complex investment products. A common defense, ... Continue reading "Investor Squares Off Against Merrill Lynch Over "Investor Sophistication"" »
Last summer, the SEC charged Medical Capital Holdings, Inc. and Medical Provider Funding Corporation VI, among others, with fraud. The SEC alleged that the companies "defrauded investors by ... Continue reading "First Investor Win Against Broker-Dealer for Medical Capital Notes Reported" »
The Financial Industry Regulatory Authority (FINRA) recently issued Regulatory Notice 10-25 in which it proposed expanding registration requirements in the securities industry to include those ... Continue reading "FINRA Proposes Expanding Registration to Include Broker-Dealers' "Back Office" Staff" »
Scott Rothstein was sentenced to 50 years in prison for his role in the operation of a $1.2 billion Ponzi scheme. Rothstein pled guilty in January to running the Ponzi scheme in which he sold stakes ... Continue reading "Former South Florida Lawyer Sentenced to 50 Years for $1.2B Ponzi Scheme" »
In a move Massachusetts securities regulators are calling an attempt to delay proceedings based on a "dangerous false presumption," Securities America is asking the Court to subpoena other ... Continue reading "Securities America Requests Broker-Dealers Be Subpoenaed in Legal Battle Involving Medical Capital Private Placements" »
Jeremy Hart and Richard Novaria were arrested on Friday, May 28, 2010, for their alleged connection to a Northern Colorado Ponzi scheme that involved $3.5 million. The pair has been accused of duping ... Continue reading "Northern Colorado Ponzi Scheme Involves $3.5 Million" »
Inland Western Retail Real Estate Trust Inc. isn't listed on any exchange, and yet brokers promised investors a payout of steady dividends and a stock price that wouldn't fluctuate with the ... Continue reading "Brokers Questioned for Pushing Inland Western Non-listed REITs." »
Federal officials are warning investors to be wary of pump-and-dump schemes in the aftermath of the BP oil spill, according to The Sacramento Bee. These scams are relatively common after a natural or ... Continue reading ""Pump and Dump" Investment Scams Tied to BP Oil Spill" »

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