Meyer Wilson

Recovering Losses Caused By Investment Misconduct

Blog Posts in January, 2012

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Last Thursday, Christopher Plummer, of Lyme, Connecticut, admitted to an investment scheme that defrauded investors out of approximately $1.9 million. Total victim losses were around $1.7 million. ... Continue reading "Connecticut Man Pleads Guilty to 1 point 9 Million Dollar Investment Fraud Scheme" »
Last week, Candice Campbell, of Canton, Michigan, received a 52-month prison sentence for her role in a Ponzi scheme that defrauded investors out of more than $1 million. She also was ordered to pay ... Continue reading "Operation Broken Trust Leads to 52-Month Sentence for Michigan Woman in One Million dollar Ponzi Scheme Case" »
January 30, 2012 - A large group of individual investors who lost millions of dollars in a Ponzi scheme operated by a former broker with World Group Securities hired Meyer Wilson to pursue their ... Continue reading "Meyer Wilson Files Second FINRA Arbitration Against World Group Securities" »
Retired NBA All-Star Vincent Baker has filed a lawsuit against Donald S. Brodeur Jr. and Connecticut-based Brodeur & Co. Certified Public Accountants ("B&C") that accuses both ... Continue reading "Retired NBA All-Star Loses Nearly $86M in Alleged Investment Fraud" »
Younger Cohen Sentenced in $39M Ponzi Scheme, Father Sentenced January 30 Daniel O. Cohen received a 12-year prison sentence for his role in a multi-million dollar Ponzi scheme that defrauded ... Continue reading "Ponzi Scheme Sends Daniel Cohen to Prison" »
Algrid M. Norkus, of Aurora, Illinois, has been sentenced to 63 months in prison and ordered to pay $4.5 million in restitution for mail fraud charges related to the operation of a $9 million Ponzi ... Continue reading "Illinois Man Sentenced to More Than 5 Years in Prison for $9 Million Dollar Ponzi Scheme" »
Gilbert, Arizona Resident Gerald Lee Kelly Indicted for Real Estate Investment Fraud Scheme Gerald Lee Kelly, of Gilbert, Arizona has been indicted on 25 counts related to an alleged real estate ... Continue reading "Arizona Man Indicted for Alleged Real Estate Investment Fraud" »
Gaston E. Cantens, 73, will now be facing federal criminal charges for his part in an alleged real estate Ponzi scheme. Cantens, along with his wife, had previously faced charges from the U.S. ... Continue reading "Real Estate Ponzi Scheme Garners Federal Criminal Charges" »
Last week, the SEC filed civil fraud charges against a Florida-based business development company, its owner, a former officer, and a former auditor in connection to what officials say was a ... Continue reading "SEC Charges Florida-based Imperiali and Officers with Securities Fraud" »
Arraignment Scheduled in California PTA Moms’ Alleged Ponzi Scheme Case Last summer, California prosecutors charged three women, Maricela Barajas, Juliana Celeste Menefee, and Eva Perez, with 22 ... Continue reading "Arraignment Scheduled in California PTA Moms' Alleged Ponzi Scheme Case" »
A North Idaho man has been sentenced after pleading guilty to wire fraud earlier this year related to a Ponzi scheme that allegedly took more than $2 million from Idaho investors. Dale E. Lowell will ... Continue reading "North Idaho Man Allegedly Scammed Church Members in Ponzi Scheme" »
Gilbert, AZ Resident, Gerald Lee Kelly, Indicted for Using Cornerstone Financial Holdings to Bilk Distressed Homeowners A federal grand jury indicted Gilbert, Arizona resident Gerald Lee Kelly on ... Continue reading "Grand Jury Indicts Gilbert Resident for Alleged Investment Scheme" »
Joseph A. Nelson, along with several others, has been accused of having a part in a Ponzi scheme that took millions from investors. Nelson, who has served The Church of Jesus Christ of Latter-Day ... Continue reading "LDS Church Members Allegedly Targeted in Promissory Note Scam" »
Anthony Fields, an investment advisor from Illinois, has been accused by the Securities and Exchange Commission (SEC) of attempting to run an investment scam through the social media site LinkedIn. ... Continue reading "LinkedIn Scam Spurs Warning to Investors About Social Media Investment Fraud" »
Robert L. Holloway, 54, has recently been arrested for allegedly running a Ponzi scheme through his Utah-based US Ventures, LC company. According to authorities, the alleged Ponzi scheme ended up ... Continue reading "San Diego Man Arrested for Alleged Ponzi Scheme" »
Draper, Utah Ponzi Schemer Who Used Real Estate Loan Fund Waterford Funding Ordered to Repay $43.2 Million to Elderly Investors Travis Wright, of Draper, Utah, received a 10-year federal prison ... Continue reading "Former Utah Scoutmaster Sentenced to 10 Years in Prison for $145M Ponzi Scheme" »
The SEC filed a civil fraud action against Kevin J. Wilcox, Jennifer E. Thoennes, and Eric R. Nelson last week for their alleged roles in a $16 million Ponzi scheme allegedly operated by Joseph ... Continue reading "Mormon Church Leader Allegedly Used Leadership Position to Perpetrate $16M Ponzi Scheme, Says SEC" »
The SEC charged Texas-based financial services firm Life Partners Holdings, Inc., and three of its senior executives with engaging in an alleged accounting fraud and life settlements investment ... Continue reading "SEC Charges Life Partners Holdings with Life Settlements Investment Scheme" »
Many complicated and unregistered securities products, such as private-placement real estate investment trusts (also referred to as " private-REITs "), can only be sold to "accredited ... Continue reading "SEC Adopts New Net Worth Standard for Accredited Investors" »
Edward Moskop, 64, was sentenced on December 13 th for mail fraud and money laundering in relation to an alleged investment scam. During the hearing, many of the affected investors told their stories, ... Continue reading "Alleged Belleville Fraudster Sentenced to 20 Years after Ponzi Scheme" »
Anthony Cutaia, 65, who pleaded guilty to federal charges of mail fraud earlier this year, will now not be sentenced until January. Sentencing was to have taken place on December 13 th, but apparently ... Continue reading "Ponzi Scheme Sentencing Delayed after Accused Asks for Mercy" »
Free Lunch Scams Cooking Up Problems for Senior Investors "Free lunch" scams are a continuing problem, particularly for seniors. According to FINRA, approximately 80 percent of seniors ... Continue reading "AARP Warns Seniors: That "Free Lunch" Could be Costliest Yet" »
James Risher, formerly of Sanibel Island, was recently sentenced to 20 years in prison for his role in an alleged Florida Ponzi scheme. He pleaded guilty earlier this year to engaging in an illegal ... Continue reading "Florida Fraudster Sentenced in Alleged Ponzi Scheme" »
In 2010, the Financial Industry Regulatory Authority brought 1,310 disciplinary actions against unscrupulous brokers and brokerage firms – a 13 percent increase over 2009, and the largest number ... Continue reading "FINRA Orders $19M in Restitution to Defrauded Investors in 2011" »
Richard Elkinson, of Framingham, was sentenced to 8.5 years in prison for the operation of a 20-year-long, $29 million Ponzi scheme. He also was ordered to repay $17 million in restitution to the more ... Continue reading "Framingham Man Receives More Than 8 Years in Prison for 20-Year Ponzi Scheme" »
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