Meyer Wilson

Recovering Losses Caused By Investment Misconduct

Blog Posts in March, 2011

According to the U.S. Commodity Futures Trading Commission (CFTC), a Clinton Township man and a Pennsylvania man were charged in an alleged investment scam involving more than $45 million. The ... Continue reading "Detroit-Area Man Charged in Investment Scam" »
David Sokol, top manager of Berkshire Hathaway Inc., chairman of several Berkshire subsidiaries, and CEO of Columbus-based NetJets, Inc., resigned abruptly on Wednesday amidst concerns over his ... Continue reading "CEO of Columbus-based NetJets Abruptly Resigns" »
A Southern Arizona man has been indicted by a federal grand jury for investment fraud involving approximately $1.4 million. The federal indictment against Phillip Mark Cain was handed down on ... Continue reading "Southern Arizona Man Indicted for Investment Fraud" »
According to Peter Hoss, adviser to Legal Services for Seniors, investors should be wary of structured products, even those sold by legitimate and respected financial institutions ("Peter Hoss, ... Continue reading "Investors Warned Against Structured Products" »
FINRA fined LPL Financial Corp. a total of $220K in March for three separate matters, according to the Boston Business Journal ("LPL Financial fined by regulators," Boston Business Journal, ... Continue reading "LPL Financial Corp. Fined $220K in March" »
Victoria McGee-Harris, a securities broker from St. Louis, pled guilty to fraud charges on Thursday in a $6 million investment fraud case ("St. Louis broker admits $6 million investment scam, ... Continue reading "St. Louis Woman Pleads Guilty to $6 Million Investment Scheme" »
Dallas-based Southwest Securities, Inc. was hit with a $650,000 fine this week, the second fine imposed on the firm by FINRA in less than 30 days ("Finra socks Southwest Securities again," ... Continue reading "FINRA Fines Southwest Securities for Second Time This Month" »
Morgan Keegan has been ordered by a Financial Industry Regulatory Authority arbitration panel to pay more than $250,000 to a Florida couple who lost their investment after their money was channeled to ... Continue reading "Morgan Keegan Ordered to Pay Over $250,000 in Madoff Feeder Fund" »
A Missouri man has pleaded guilty in federal court for his involvement in a Ponzi scheme. Carl R. Todd, 58, of Raymore, pleaded guilty to conspiracy to commit wire fraud before U.S. District Judge ... Continue reading "Missouri Man Pleads Guilty to $2.2 Million Ponzi Scheme" »
A prominent political fundraiser has been indicted by a federal grand jury for his alleged participation in a Ponzi scheme involving hundreds of millions of dollars. Forty-eight-year-old Timothy ... Continue reading "Political Fundraiser Indicted in Alleged Ponzi Scheme" »
In January, the SEC submitted a recommendation to Congress to adopt a "universal fiduciary duty " that would include any financial professional that provides personalized investment advice ... Continue reading "Is Your Adviser a "Registered Investment Adviser" or a "Broker-Dealer"? (The Answer Matters)" »
Eureka, California, stockbroker Timothy D. Cochrane was terminated by his employer, Summit Brokerage Services, Inc. on March 10, 2011. According to documents filed with the securities regulators, the ... Continue reading "Potential Investor Claims Against Summit Brokerage Relating to Timothy Cochrane" »
A FINRA arbitration panel has found Morgan Keegan & Co. Inc. liable for both compensatory and punitive damages in an arbitration claim that involved a Madoff "feeder fund," Greenwich ... Continue reading "Morgan Keegan Ordered to Pay Punitive Damages in Madoff Feeder Fund Case" »
A Lakewood man has been indicted for his alleged involvement in an investment scam. Kenneth Dewey Wyatt, 51, of Lakewood, has been indicted on 51 counts of securities fraud and four counts of theft by ... Continue reading "Lakewood Man Indicted for Securities Fraud" »
A Connecticut hedge fund manager has pleaded guilty for his involvement in what has been described as a massive Ponzi scheme. Francisco Illarramendi, 42, of New Canaan, pleaded guilty to multiple ... Continue reading "Connecticut Hedge Fund Manager Pleads Guilty in Massive Ponzi Scheme" »
At a fixed-income conference in New York on Monday, FINRA CEO Richard Ketchum announced that FINRA has plans to increase inquiries into the $2.9 trillion municipal bond market ("Finra Steps Up ... Continue reading "FINRA Announces Focus on Municipal Bond Dealers" »
Joseph A. Dawson, of Fox Lake, Illinois, was sentenced this week to four-and-a-half years in prison for his role in a $3.3 million Ponzi scheme that defrauded approximately two dozen investors ... Continue reading "Fox Lake Man Gets 4.5 Years for Ponzi Scheme" »
Federal authorities have linked a Clayton man to a Ponzi scheme involving nearly $35 million. Bryan Coats has been named in the complaint filed by the Commodity Futures Trading Commission (CFTC) in ... Continue reading "Clayton Man Suspected in $35 Million Ponzi Scheme" »
Jason "Bo" Alan Beckman Charged for Role in Twin Cities Ponzi Scheme with Trevor Cook Defrauding 1000 Investors The SEC brought charges against Jason "Bo" Alan Beckman on Monday ... Continue reading "More Charged in Twin Cities $194 Million Ponzi Scheme" »
Last week, the U.S. Department of Labor held hearings to discuss a proposed change to the current definition of “fiduciary” in the Employee Retirement Income Security Act (ERISA) of 1974 ... Continue reading "Labor Department Proposes Applying Fiduciary Standard to IRAs" »
The Securities and Exchange Commission (SEC) has charged a Marin hedge fund manager for fraud for his alleged participation in an investment scam involving over $12 million. Larry Goldfarb has entered ... Continue reading "SEC Charges Hedge Fund Manager in Investment Fraud Case" »
If it seems like FINRA has been filing more enforcement actions over the past twelve months or so, it’s because it has. According to a study released Monday, the self-regulatory organization ... Continue reading "FINRA Disciplinary Actions Up in 2010" »
An investment scheme involving $80 million ends in an eight-year prison sentence for a North Carolina man. Vance Moore II learned his fate on Monday, February 28, 2011, as U.S. District Judge Thomas ... Continue reading "ATM Investment Scam Gets North Carolina Man 8 Years" »
According to an annual report filed by Citigroup on Friday, the company is under investigation by the SEC and other regulators for activities related to its subprime mortgage bond business and the ... Continue reading "Citigroup Under Investigation by SEC for Activities Related to Financial Crisis" »
In an effort to increase returns in the face of low interest rates, many investors have turned to preferred stocks. According to the Wall Street Journal’s "Intelligent Investor" ... Continue reading "What Investors Should Know About Preferred Stocks" »

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