Meyer Wilson

Recovering Losses Caused By Investment Misconduct

Blog Posts in August, 2011

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Raymond James Financial Services has been ordered to pay investors approximately $300 million owed to them, after their funds were frozen during the shutdown of the Auction Rate Securities (ARS) in ... Continue reading "Investors with Raymond James get $300 million" »
The North American Securities Administrators Association Inc. recently released its top ten list of financial products and practices that con artists use to defraud investors out of their hard-earned ... Continue reading "NASAA Releases 2011 Top Investor Traps and Threats" »
Mantria Corp., supposedly defrauded investors out of millions with blatant disregard, having investors drain money from equity in their homes, college funds, and bank loans to invest in their ... Continue reading "Three Charged in Alleged Green Energy Investment Fraud" »
In mid-2009, Time Magazine published an article that declared the United States was in a " boom time for scams." Two years later, that's still true. In a recession, economic uncertainty ... Continue reading "Recession Causes Rise in Fraud and Rise in Convictions" »
Through an alleged cold-calling scheme, a Philadelphia man with five prior white-collar convictions pleaded guilty to running a $17 million real-estate Ponzi scheme, Life's Good Inc.. The case ... Continue reading "Man Accused of Making $17 Million in Real Estate Ponzi Scheme" »
Robert Stinson, of Berwyn, Pennsylvania, allegedly told investors that he had an impressive background in business and was a graduate of MIT. Unfortunately for his 260 investors, Stinson bent the ... Continue reading "Man Indicted in Pennsylvania Ponzi Scheme Fails to Mention Previous Convictions" »
There were 800 victims, many elderly, harmed by an alleged fraud scheme that spanned the United States and Canada, costing victims $100 million. Five people from A&O Resource Management, Ltd., ... Continue reading "A&O Entities Sentenced to Prison for $100 Million Fraud Scheme" »
Carl Miller, as head of Orinda Real Estate Investment Group, has reportedly been living a lavish lifestyle for a number of years. He has recently been accused of nine counts of embezzling, totaling ... Continue reading "Real Estate Group Allegedly Stole, Forged, and Embezzled Investors' Money." »
Tabor Academy received $1.52 million in stock from John Mazzuto, and they even named their Mazzuto Math Wing after him. Tabor's headmaster praised Mazzuto, and said, "Appreciate is probably ... Continue reading "Securities Fraud Could Impact Schools; Asked to Return Stocks" »
Shane A. Sterling, owner of the now defunct Sterling Wealth Management in Pleasant Hill, Iowa, has agreed to give up his brokerage license and to be barred permanently from the securities industry in ... Continue reading "Iowa Business Owner Permanently Barred from Selling Securities" »
The Financial Industry Regulatory Agency has teamed up with Stanford University's Center on Longevity to launch the new online Research Center on the Prevention of Financial Fraud. Explaining the ... Continue reading "Stanford University and FINRA Unite to Fight Fraud" »
Clifford Roth, a lawyer from Leawood, Kansas, has pleaded guilty in a fraud case spanning Kansas, Oklahoma, and Texas. Roth was sentenced on Tuesday August 9th, 2011 by US District Judge Marcia Crone ... Continue reading "Kansas Lawyer Convicted for Texas Investment Fraud" »
Former Nebraska City broker Brian Schuster was sentenced to 16 years in prison on Tuesday for his role in an investment fraud that involved the sale of more than $20 million in risky investments to ... Continue reading "Former Nebraska City Brokers Sentenced in $20M Investment Fraud Case" »
Julio Mercado, 37, has been accused of running a Palm Beach investment scam through his Lexington Financial Group. The investigation began after National City Bank reported suspicious activity in an ... Continue reading "Investment Fraud Company Mimics Legitimate Company to Take $304,000" »
This week, a federal jury found Kurt Barton, former CEO of Austin-based Triton Financial, guilty of running a $75 million Ponzi scheme that defrauded approximately 300 investors out of more than $50 ... Continue reading "Former Triton CEO Found Guilty on 39 Counts for $75M Ponzi Scheme" »
Robert Stinson, Jr., of Berwyn, Pennsylvania, pled guilty to 26 federal charges on Monday in relation to an investment scheme that defrauded at least 260 investors out of more than $17 million. ... Continue reading "Philadelphia-Area Business Owner Pleads Guilty to $17M Ponzi Scheme" »
While restitution has been ordered in a complicated Fresno Ponzi scheme case, victims are unlikely to see much of their lost cash again. The Fresno County Superior Court has ordered $46.5 million be ... Continue reading "Fresno Ponzi Scheme Victims Will Probably Only Receive "Pennies on the Dollar"" »
Rocco DeSimone, a former Rhode Island art dealer, was convicted of money laundering and mail fraud earlier this year. He has now received a stiff sentence of 16 years in prison, which is nearly the ... Continue reading "Rhode Island Man Convicted in Providence Investment Scam" »

Are Mortgage REITs Too Risky?

Are Mortgage REITs Too Risky for Me? For the average investor, the answer is yes. Though many investment advisers will say new mortgage REITs are great investment vehicles for certain investors, the ... Continue reading "Are Mortgage REITs Too Risky?" »
Robert Tunnell, a former San Francisco attorney, has been charged with running a California Ponzi scheme that took $7 million from victims. The victims in the alleged investment scam were mostly made ... Continue reading "San Francisco Investment Scam Takes $7 Million from Family, Friends, and Girlfriend" »
Lloyd Kimura, brother of Hawaii County Prosecuting Attorney Jay Kimura, was sentenced on July 13th for his alleged involvement in an $8 million dollar investment scam in Hawaii. According to ... Continue reading "Tropical Paradise Becomes Nightmare for Victims of $8 Million Maui Ponzi Scheme" »
Jason Severs, 37, has been charged with at least 95 counts of theft and fraud for Indiana investment scams over the past ten years. Officials discovered the scams when an Ohio woman reported she had ... Continue reading "Indiana Investment Scams Land Terre Haute Man in Jail" »
The U.S. Securities and Exchange Commission accused Stifel, Nicolaus & Co. as well as a former senior executive at that firm of fraud involving five separate school districts in Wisconsin. The SEC ... Continue reading "SEC Charges Stifle, Nicolaus & Co and Executive with Defrauding Wisconsin Schools" »
This week, FINRA fined Citigroup $500,000 for failure to supervise Tamara Moon, a former registered sales assistant at the firm's branch office in Palo Alto, California. Moon was barred from the ... Continue reading "Citigroup Fined $500K for Failure to Supervise Sales Assistant" »
Gary Mountain, 61, has pleaded no contest to five counts of felony securities fraud in San Jose. The charges come in connection with an alleged $1.2 billion real estate investment scam that affected ... Continue reading "California Investment Scam Results in Securities Fraud Charges and Prison Time" »
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