Meyer Wilson

Recovering Losses Caused By Investment Misconduct

Blog Posts in December, 2011

Brian Marsack, of Chesterfield Township, has been charged with stealing the life savings of at least three individuals. The alleged victims include a 91-year-old man, Edward Mancini, and his ... Continue reading "Man Charged in Latest Detroit Ponzi Scheme Case" »
Keenan R. Hauke, CEO of the Indianapolis investment firm Samex Capital Partners LLC, has agreed to plead guilty to one count of securities fraud in connection to an alleged $7 million Ponzi scheme ... Continue reading "CEO of Samex Capital Agrees to Plead Guilty in Alleged Ponzi Scheme Case" »
George Sepero, of Glen Rock, N.J., and Carmelo Provenzano, of Garfield, N.J., were arrested on Wednesday on charges related to an alleged $3.5 million investment fraud. In the Complaint, Sepero and ... Continue reading "Fake Hedge Fund Managers Charged with Fraud in Alleged $3.5M Foreign Currency Ponzi Scheme" »
We have long advised investors to take steps to minimize the risk of investment fraud by choosing the right financial adviser. Spending the time to conduct a thorough background check and to ... Continue reading "Want to Avoid Investment Fraud? Spend Time Choosing Your Adviser" »
Late last month, the North American Securities Administrators Association (NASAA) sent a Cease-and-Desist letter to the operator of the "State Securities Commission" website, a website the ... Continue reading "Investor Alert: Beware of Fake Securities Regulator Scams" »
James Risher, of Sanibel, Florida, has been sentenced to 19 years and 7 months in federal prison for charges related to his role in a Ponzi scheme that defrauded 106 investors in Florida and North ... Continue reading "Florida Ponzi Schemer Sentenced to Nearly 20 Years in Prison for $21M Fraud" »
Andrey C. Hicks, owner of Locust Offshore Management LLC. has been indicted on federal fraud charges in connection to an alleged $2.5 million investment scheme involving a purportedly billion-dollar ... Continue reading "Boston-Area Man Indicted In Alleged Hedge Fund Investment Scheme" »
"An enforcement wave is coming," warns a former assistant director at the Securities and Exchange Commission's asset management unit in a Dec. 4 InvestmentNews article, "The world ... Continue reading "SEC Gearing up for Investment Fraud "Enforcement Wave"" »
Laurence M. Brown, of Westchester County, was sentenced to five years in prison recently for his role in a $2 million fraudulent gas-pipeline investment scheme. According to court documents, Brown ... Continue reading "NY CPA and Business Owner Sentenced to 5 Years for Gas-Pipeline Investment Scheme" »
Baby boomers make up 25 percent of the U.S.’s current population. That’s approximately 77 million people, many of who are living on significantly smaller incomes than they had anticipated. ... Continue reading "Nationwide Surge in Investment Fraud Against Baby Boomers Continues" »
Both the SEC and the NASAA are becoming increasingly concerned about the potential for investment fraud in self-directed individual retirement accounts (IRAs). Though the self-directed IRA market is ... Continue reading "Indiana Case Highlights Investment Fraud Dangers of Self-Directed IRAs" »
Richard Elkinson, of Framingham, recently received a 102-month prison sentence for an alleged Ponzi scheme. Elkinson pleaded guilty earlier this year to 18 counts of mail fraud in the scheme. ... Continue reading "Framingham Man Sentenced to 102 Months for Alleged Ponzi Scheme" »
Jon Edwards Hankins, of Knoxville, Tennessee, was sentenced to three years and four months in prison late last month for perpetrating an investment scheme while still on home confinement for a 2007 ... Continue reading "Previously Convicted Knoxville Fraudster Heads Back to Prison for Second Investment Scheme" »
DBSI, Inc. filed for bankruptcy in 2008. Medical Capital Financial Corp. and Provident Royalties both filed for bankruptcy a year later. Since then, approximately two dozen independent broker-dealers ... Continue reading "FINRA Slams Broker-Dealers On Private Placements, Again" »
John S. Morgan, of Sarasota, was recently sentenced to ten years in prison for his involvement in a Ponzi scheme that he allegedly ran with his wife through their Morgan European Holdings company. His ... Continue reading "Ten-Year Sentence for Man in Sarasota Ponzi Scheme" »
"Mini-Madoff" in Michigan Means Multiple Ponzi Scam Issues for Investors A Michigan man has been accused of running a Ponzi scheme, and some people have taken to calling him a ... Continue reading "Multiple Issues for Investors in Mini-Madoff Ponzi Scheme" »
The Securities and Exchange Commission (SEC) has charged Western Pacific Capital Management, LLC, and company president, Kevin James O’Rourke, with fraud after an investigation. The charges ... Continue reading "San Diego Investment Firm Faces Securities Fraud Charges" »
Garfield M. Taylor, of Bethesda, Maryland, was recently charged by the Securities and Exchange Commission (SEC) with running a Ponzi scheme that took millions from investors. The alleged investment ... Continue reading "Maryland Man Faces Ponzi Scheme Charges; Investors Lost Millions" »
An Arizona estate-planning company has been accused of targeting senior investors for annuity investments that led to fraud and financial abuse. National Future Benefits, headed by company president ... Continue reading "Arizona Annuities Fraud Targets Seniors" »
David Lewalski, formerly of Gainesville, has recently been sentenced in a $30 million Ponzi scheme case. According to officials, the scheme affected over 500 investors and took about $30 million. The ... Continue reading "Former Florida Man Sentenced for $30 Million Ponzi Scheme" »
Samuel "Mouli" Cohen was recently found guilty in an investment fraud scheme that officials say targeted high-profile investors, such as actor Danny Glover and the Vanguard Public ... Continue reading "Man Found Guilty in High-Profile Investment Fraud" »
A recent report out of Illinois focused not only on the rise of investment fraud that targets the elderly, but also on why seniors are so often taken in by Illinois investment fraud and other scams ... Continue reading "Seniors Increasingly Targets of Illinois Investment Fraud" »
Michael K. Wallens, Jr., of Plano, Texas, has pleaded guilty to securities fraud. He has been sentenced to five years in prison, and he will also have to pay out $13 million in restitution. His father ... Continue reading "Texas Father and Son Plead Guilty in Investment Fraud Case" »

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