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Recent Posts in Securities Fraud Category

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Merrill Lynch, Pierce, Fenner & Smith Inc. has been fined $6.25 million, with an additional $780,000 to be paid in restitution, after the Financial Industry Regulatory Authority (FINRA) found that ... Continue reading "Merrill Lynch Fined $7 Million by FINRA" »
The Financial Industry Regulatory Authority (FINRA) has fined VALIC Financial Advisors, Inc., a Houston-based broker-dealer, $1.75 million. VALIC Financial Advisors consented to the entirety of ... Continue reading "VALIC Financial Advisors, Inc. Fined $1.75 Million" »
Former Newbridge Securities Corp. broker Gerald J. Cocuzzo (CRD# 4047511) pleaded guilty to charges relating to his role in a $131 million market manipulation scheme. The United States Department of ... Continue reading "Former Broker Gerald Cocuzzo Pleads Guilty to Securities Fraud" »
The securities fraud attorneys at Meyer Wilson are currently investigating claims against former broker Jay J. Gruenebaum (CRD# 2351888). The Financial Industry Regulatory Authority (FINRA), has ... Continue reading "Meyer Wilson Investigating Claims Against Former Broker Jay Gruenebaum" »
Following Ameriprise Financial Services, Inc.’s failure to detect that one of their registered representatives had converted more than $370,000 from customer accounts, the Financial Industry ... Continue reading "Don't Forget About Your Brokerage Account Statement" »
Pump-and-dump scams, also known as boiler room scams, used to rely on cold calls as a way to artificially increase the price of a stock and take advantage of unsuspecting investors. Nowadays, scammers ... Continue reading "Don't Fall Prey To Digital "Pump And Dump" Scams" »
Federal securities regulators have been relying on an increasing number of confidential informants, also called whistle-blowers, to find and prosecute wrongdoing in the financial sector following the ... Continue reading "Securities Fraud Whistle-Blowers Are Being Rewarded" »
Barclays Capital Inc. (CRD# 19714 / SEC# 8-41342) was fined $1.3 million by the Financial Industry Regulatory Authority (FINRA) for supervisory failures related to systemic reporting violations to the ... Continue reading "Barclays Capital Inc. Fined $1.3 Million for Extensive Violations and Failures" »
Former Ohio-based LPL Financial Broker Thomas H. Caniford has pled guilty to 135 counts relating to securities fraud and theft. Last August, Meyer Wilson announced our investigation into misconduct ... Continue reading "Thomas Caniford Pleads Guilty, Sentenced to 12 Years for Hedge Fund Fraud" »
Last week, the Securities and Exchange Commission (SEC) initiated administrative proceedings against UBS Financial Services Inc. of Puerto Rico and one of its former branch managers for improperly ... Continue reading "NEWS: UBS Puerto Rico Agrees to Settle Supervisory Failure Case with the SEC" »
The Securities and Exchange Commission has brought forth a complaint against Nomura International Securities’ senior traders Ross Shapiro ( CRD# 4260687 ), Michael Gramins (CRD# 4826040), and ... Continue reading "The SEC Indicts Former Nomura Traders with Fraud, Meyer Wilson Investigating" »
Former Merrill Lynch and Smith Barney investment advisor, Jane O’Brien, has once again been given time in prison for engaging in almost twenty years of securities fraud. She has been given an ... Continue reading "NEWS: Former Merrill Lynch and Smith Barney Investor Given Extra Jail Time" »
The Securities and Exchange Commission has charged Edward Jones with selling municipal bonds at an inappropriate price. The brokerage firm, located in St. Louis, was accused of buying municipal bonds, ... Continue reading "NEWS: The SEC Alleges Edward Jones Overcharged Customers on Municipal Bonds" »
The Securities and Exchange Commission has charged ITG Inc., and its subsidiary AlterNet, with violations of the Securities Act of 1993 and Regulations ATS. ITG has been accused of operating a secret ... Continue reading "NEWS: ITG Charged with Working a Secret Trading Desk and Exploiting Subscriber Information" »
A former trainer for the Seattle Supersonics admitted that he defrauded 30 people out of approximately $4 million and was sentenced last Thursday to 50 months in prison. Stephen Bruce Gordon admitted ... Continue reading "Former NBA Trainer Stephen Gordon Gets 50 Months for Fraud" »
BestVest Investments has accepted and consented to FINRAs findings that accuse the firm of failing to establish and maintain a supervisory system to monitor ETF transactions. According to FINRA, from ... Continue reading "BestVest Investments, Ltd. Fined Over Sale of Non-Traditional ETFs" »
Claude Darrell McDougal was sentenced to 78 months in prison after pleading guilty to orchestrating a Ponzi scheme that defrauded more than 25 investors out of approximately $2.5 million. According to ... Continue reading "Claude Darrell McDougal Gets 6+ Years for Securities Fraud" »
The SEC has implicated 34 defendants in a scheme involving the manipulation of microcap stock trades. According to the SEC, 15 of the defendants are individuals and 19 are entities. Out of those 19 ... Continue reading "15 People, 19 Entities Charged in Microcap Stock Schemes" »
In 2013, Meyer Wilson was investigating claims surrounding former Ohio realtor Brenda Ashcraft that she defrauded investors out of millions of dollars. Recently, she pleaded guilty to these charges. ... Continue reading "Ohio Realtor Brenda Ashcraft Pleads Guilty to Defrauding Investors Out of $15 Million" »
Meyer Wilson is currently investigating accusations against broker Marc W. Evans that he sold securities without first getting approval from his employing firm. Marc W. Evans (CRD# 859585) faced ... Continue reading "Meyer Wilson Investigates Accusations Involving Broker Marc W. Evans" »
Meyer Wilson is currently investigating claims involving an unregistered investment advisor from Northeast Ohio, Geoffrey W. Nehrenz. In a new investment fraud case coming out of Northeast Ohio, an ... Continue reading "NE Ohio Investment Advisor Accused of $7 Million Ponzi Scheme" »
The Jon Guay story is one of a wolf in sheep's clothing. Guay, who recently pleaded no contest to fraud and grand theft, was accused of befriended a group of people in California's Bay Area, ... Continue reading "California Man Steals $300,000 from Bay Area Investors" »
By Chad M. Kohler, Esq. Many people contact our law firm with questions about unregistered securities that they were sold. All too often, these "investments" are nothing more than a scam and ... Continue reading "SEC Warns Investors about Unregistered Securities" »
On Tuesday of this week, the Securities and Exchange Commission ("SEC") filed a civil lawsuit against Oscar Villarreal for swindling investors out of more than $18 million. Knowing about the ... Continue reading "As I Predicted Last Year, Oscar Villarreal's WW Capital Partners Fund Appears to be a Ponzi Scheme" »
Within the past few months, I have spoken with numerous potential clients who lost money in various foreign currency exchange (or "forex") trading scams. According to the Commodity Futures ... Continue reading "Investors Should Be Leary of Forex Trading Promoters" »
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