Meyer Wilson

Recovering Losses Caused By Investment Misconduct

Blog Posts in June, 2011

Lorn Leitman, of Key Biscayne, was convicted of mail fraud in a plea deal for an alleged ten year Ponzi scheme involving residential mortgage loans and loans for military personnel. John Gentile, who ... Continue reading "Multimillion-Dollar Ponzi Scheme Targets Seniors and Lifelong Friends" »
Zvi Goffer was found guilty on 14 charges of securities fraud and conspiracy on June 13th in Manhattan for his part in an alleged insider-trading hedge fund fraud. The charges came after a nationwide ... Continue reading "Man Found Guilty of 14 Charges of Securities Fraud & Conspiracy" »
On Wednesday, the SEC voted 3-2 to adopt the new whistle-blower program included in last year's Dodd-Frank financial reform law. Under the new rules, tipsters who provide information that leads to ... Continue reading "SEC Votes to Adopt New Whistle-Blower Program" »
The U.S. Securities and Exchange Commission proposed a rule which would disqualify Regulation D offerings ( private placements ) if they involve certain "felons or other bad actors." The ... Continue reading "SEC Proposes Rule to Ban Felons and "Bad Actors" from Private Placement Offerings" »
Warnings against structured products abound these days. Recently, officials for both the SEC and FINRA warned investors against the products, and called the payout structures "difficult to ... Continue reading "Warnings Keep Pouring In On Risks of Structured Products" »
In anarticle published on NevadaAppeal.com, Deborah Jaquith, Director of Communications, AARP Nevada State Office, offered five tips to help investors avoid investment fraud: Watch for warning signs. ... Continue reading "Five Tips to Help You Avoid Investment Fraud" »
Joseph John Viola, who goes by the name Giuseppe Viola, has been sentenced to 36 years in prison for Arizona investment fraud.The charges were filed in 1990, but Viola allegedly fled to Italy at that ... Continue reading "Man Sentenced for Arizona Investment Fraud; Accused of California Ponzi Scheme" »
Brian Schuster, a former Nebraska football player, pleaded no contest to securities fraud charges on May 17 th as part of a plea agreement. Schuster initially faced eight felony counts of intentional ... Continue reading "Former Football Player Pleads No Contest to Nebraska Securities Fraud" »
A Florida Ponzi scheme involving a prominent attorney allegedly bilked investors out of at least $800 million. Michael J. McNerney, a Fort Lauderdale lawyer and legal counsel for Mutual Benefits ... Continue reading "Fort Lauderdale Man Allegedly Involved in $800 Million in Florida Ponzi Schem" »
John Bravata, the chairman of BBC Equities, LLC, was arrested in New York City on May 5 th as he exited a plane returning from Italy. Bravata now faces criminal charges for a Michigan investment scam ... Continue reading ""Billionaire Boys Club" Member Arrested for MI Ponzi Scheme after Fleeing to Italy" »
If you read our previous blog post, you probably already understand the general risks of REITs. However, you may still have questions about what makes an unlisted REIT like Apple REIT 10 specifically ... Continue reading "How Are Unlisted REITs like Apple REIT 10 Potentially Unsuitable for Me?" »
In light of the recent FINRA allegations against David Lerner Associates for their alleged Apple REIT 10 fraud, we thought it would be a good time to talk about the increase in sales of these ... Continue reading "Apple REIT 10 & Other REITs: What are the Risks?" »
Most investors assume CDs are entirely risk-free. And, thanks, in part, to the volatility of the stock market over the past several years that means CD purchases are on the rise. But, that assumption ... Continue reading "CDs Not As Safe As Many Investors Believe" »
Structured notes with principal protection are hot products these days. The financial crisis of 2008 left many investors with crippling losses, and the desire to find a safer place to invest their ... Continue reading "Regulators Warn Investors Against Structured Notes" »
The Financial Industry Regulatory Authority (FINRA) has accused David Lerner Associates of misleading investors regarding their Apple REITs, in particular the unlisted Apple REIT 10. The suit alleges ... Continue reading "David Lerner Associates Accused of Misleading Vulnerable Investors" »
According to customer statements from David Lerner Associates, the value of Apple REIT 8 hasn’t ever changed, even during the recent real estate downturn. In reality, the REIT is even now facing ... Continue reading "David Lerner Associates' Apple REIT 8 Also In Trouble" »
In its formal complaint, the Financial Industry Regulatory Authority (FINRA) has accused the Syosset, New York-based brokerage firm, David Lerner Associates (DLA) of investment fraud. FINRA cites that ... Continue reading "Details Emerge Regarding FINRA Lawsuit Against David Lerner" »
David Lerner Associates (DLA) has been accused of investment fraud. DLA has been accused of selling illiquid real estate investment trust shares to unsophisticated and elderly investors without taking ... Continue reading "FINRA Pursues Claim Against David Lerner Associates" »
This week, the Financial Industry Regulatory Authority (FINRA) filed a complaint against David Lerner Associates regarding the investment company’s sale of Apple REIT Ten. In the complaint, ... Continue reading "Apple REIT Ten: Center of FINRA Complaint With David Lerner Associates" »
Stock-based loan programs allow investors to obtain "non-recourse" loans from third-party lenders (typically unregistered and unregulated) by pledging fully paid stock as collateral. ... Continue reading "FINRA Cautions Against Stock-Based Loan Programs" »
Last year, FINRA issued Regulatory Notice 10-06 regarding the use of blogs and social networking websites such as Facebook, Twitter, and LinkedIn by brokers to communicate with the public. The Notice ... Continue reading "Morgan Stanley Smith Barney Allows Brokers to Use Twitter, LinkedIn" »

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