Meyer Wilson

Recovering Losses Caused By Investment Misconduct

Blog Posts in February, 2011

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Con artists often disguise themselves as “investment advisers” and professional sales representatives in order to solicit investments from unsuspecting people. A good way to avoid being ... Continue reading "How to Avoid Being Conned by a Fake Investment Adviser" »
Gregory J. Buchholz of Bridgewater was scheduled to be sentenced on Monday, January 31, 2011, in federal court in Bridgeport. Buchholz, an independent financial adviser operating at Raymond James ... Continue reading "Gregory J. Buchholz Faces Sentencing for $1.37 Million in Alleged Financial Fraud" »
A 34-year-old man from Florida was sentenced to seven and a half years in federal prison for allegedly operating a Ponzi scheme that collected more than $10 million. The man, Patrick Rakotonanahary, ... Continue reading "Florida Resident Sentenced for Purported $10 Million Ponzi Scheme" »
There have been new developments in the case surrounding former attorney Scott Rothstein and his alleged 1.2 billion dollar Ponzi scheme, run from his South Florida Law office. A federal judge has ... Continue reading "TD Bank Purportedly Utilized in Rothstein Ponzi Scheme" »
On Feb. 9, FINRA sent a Wells Notice to the online brokerage E*Trade that said it may soon pursue an enforcement action against the company over the sale of auction-rate securities (“E*Trade ... Continue reading "FINRA May Pursue Action Against E*Trade Over Auction-Rate Securities" »
As the onslaught of Ponzi schemes continues, investors keep asking how they can avoid becoming a victim. Don Dunn, whose 1975 biography of Charles Ponzi was re-released after the Madoff scandal ... Continue reading "Ponzi's Biographer Shares Tips on How to Avoid Ponzi Schemes" »
The U.S. Commodity Futures Trading Commission has charged Tucson resident Anthony Eugene Linton with misappropriation of customer funds and fraud. The scheme reputedly involved foreign currency ... Continue reading "Tucson Resident Charged with Ponzi Scheme, Fraud Allegations" »
A Boulder, Colorado judge passed sentencing on 50-year-old Texan, Kevin Lauritsen, today in connection with financial fraud allegations tied to a community church. Lauritsen received four years in ... Continue reading "Lauritsen Sentenced, Ordered to Pay Restitution in Connection with Alleged Financial Fraud in Religious Circle" »
It looks like authorities may have uncovered a real Jersey Shore "Situation." Well-known humanitarian and former partner of one of the state's biggest insurance agencies, C. Gavin Gatta, ... Continue reading "Gatta Sentenced for Alleged Jersey Shore Ponzi Scheme" »
A 39-year-old Colorado native, John Reinholdt II has been found guilty of charges of a Ponzi scheme to defraud Colorado and Arizona banks, according to the Denver Business Journal. Reinholdt may face ... Continue reading "Reinholdt Found Guilty of Alleged Colorado and Arizona Ponzi" »
Earlier this month, FINRA officials announced that Regulation D private placements and non-traded real estate investment trusts (REITs) would be FINRA’s top areas of focus this year. The ... Continue reading "National Securities Is Latest Broker-Dealer to Be Disciplined in FINRA's Crackdown" »
Authorities say something is brewing in Seattle-and it isn't coffee. Frederick Darren Berg is being tied to an alleged financial fraud that is being called the biggest Ponzi scheme ever prosecuted ... Continue reading "Largest Alleged Ponzi Scheme Ever Prosecuted in WA Brews in Seattle" »
Life insurance policies are expensive and many older adults decide they can either no longer afford the payments or no longer have a use for their policies once they retire. If you are an adult over ... Continue reading "What Seniors Need to Know About Selling Their Life Insurance Policies" »
Harrison Jones, a licensed financial planner in Panama City, was arrested recently on Ponzi scheme allegations. His advertisements, which reputedly promised to make clients' money "last as ... Continue reading "Alleged Panama City Ponzi Scheme Promised 12 Percent Returns" »
Daniel Spitzer, of Barrington, Illinois, was charged last Thursday with eight counts of mail fraud, according to a Feb. 11 DOJ press release. Prosecutors allege that Spitzer defrauded over 400 ... Continue reading "Chicago-Area Man Charged with Running $105 Million Ponzi Scheme" »
Consistency. Like Bernie Madoff’s billon-dollar Ponzi scheme, many fraudulent investments show consistent returns – or promise consistent returns – quarter after quarter, year after ... Continue reading "If You Want to Avoid Investment Fraud, Watch Out for These Red Flags" »
Goodman Goqo, 26, was arrested at his Hillcrest home recently. The ringleader of what the State alleges was a financial fraud and Ponzi scheme has been charged with a whopping 4,000 counts of fraud. ... Continue reading "Ringleader of Alleged Ponzi Scheme Charged with 4,000 Counts of Fraud" »
On Monday, a three-member FINRA arbitration panel awarded a group of investors $6.4 million in an arbitration claim against two units of Citigroup Inc. for losses related to investments in a series of ... Continue reading "FINRA Orders Citigroup to Pay $6.4 Million to Investors for Losses in Municipal Arbitrage Fund" »
James Shorris, FINRA’s executive vice president and executive director of enforcement, recently announced that monitoring Regulation D private placements and non-traded real estate investment ... Continue reading "FINRA Says Private Placements and Non-Traded Real Estate Investment Trusts Are Top Focus" »
Many retirees have heard the pitch: Index annuities are a perfect blend of stock performance and little risk. They offer returns that go up when the market does and are guaranteed to never lose ... Continue reading "Money Magazine Calls Index Annuities a Safety Trap" »
An easy way to protect yourself in the case of broker fraud and broker bankruptcy is to verify that your brokerage firm is a member of the Securities Investor Protection Corp. (SIPC) and that all the ... Continue reading "How Investors Can Protect Themselves from Broker Fraud and Broker Bankruptcy" »
Equity Indexed Annuities Promise High Returns...Paralleled With High Risk And High Fees Equity-indexed annuities are extremely popular right now. And, with purported returns of up to 8 percent and a ... Continue reading "Hidden Fees Make Equity-Indexed Annuities Bad Investment for Seniors" »
Last week, the SEC adopted two sets of new rules that will affect disclosure and review requirements for asset-backed securities (ABS), according to a Jan. 20 SEC press release. Asset-backed ... Continue reading "SEC Adopts New Disclosure and Review Requirements for Asset-Backed Securities" »
A husband and wife in their 70s recently won the largest DBSI-related arbitration award to date - $1.6 million - in a claim filed against QA3 Financial Corp, according to a Jan. 23 InvestmentNews ... Continue reading "FINRA Awards Investors $1.6 Million in Claim Related to DBSI-Packaged TICs" »
On January 25, Merrill Lynch Pierce Fenner & Smith Inc. settled with the SEC on charges of securities fraud. The SEC had alleged that the firm inappropriately used customer information and that it ... Continue reading "Merrill Settles with SEC for $10 Million" »
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