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  • Attorneys David Meyer and Matthew Wilson have been selected to the list of Super Lawyers since 2011 and 2015 respectively.

  • Attorney David Meyer is a member of the Million Dollar Advocates Forum, an organization recognizing attorneys who have secured million dollar cases.

  • Martindale-Hubbell® Peer Review Ratings™ has recognized attorney David Meyer as an AV Preeminent® attorney in High Ethical Standing.

  • Attorneys David Meyer and Matthew Wilson have received a 10 out of 10 “Superb” rating on Avvo, calculated based on stringent and exhaustive criteria.

  • Attorney David Meyer was selected as the 2015 Lawyer of the Year for Professional Malpractice Law – Plaintiffs for Columbus, OH by Best Lawyers®.

  • Meyer Wilson was ranked as a Tier 1 Best Law Firm for both Mass Tort Litigation / Class Actions – Plaintiffs and Professional Malpractice Law – Plaintiffs by U.S. News.

  • Attorney David Meyerhas been selected to the list of the Best Lawyers in America® for Mass Tort Litigation / Class Actions – Plaintiffs and Professional Malpractice Law – Plaintiffs every year since 2011.

What Is a Master Limited Partnership (MLP)?

An investment that the financial industry has been pushing recently as a hot product is Master Limited Partnerships, or MLPs. In a low interest rate environment, many brokers sell Master Limited Partnerships to their customers. Many MLPs have been wrongly sold as a supposedly safe way to earn higher interest rates with little or no risk.

With the recent precipitous drop in oil and other commodity prices, many MLPs have taken a big hit and many investors have seen their returns completely wiped away. What exactly is an MLP? An MLP is a limited partnership that is publicly traded on an exchange. It combines the tax benefits of a limited partnership with the liquidity of a publicly traded securities.

To be legally classified as an MLP, the partnership must derive most of its cash flow from real estate, natural resources, and commodities. Over the last several years, MLPs have become one of the fastest growing asset classes. In 2007, the amount of money invested in MLPs was about $100 billion. By mid-2014, that number was over $500 billion. With yields approaching 10% or higher, it’s little wonder why investors have taken the bait and bought up MLPs at a record pace.

This is particularly so for retirees who may need income but who might be earning only a little over 1 percentage on a one-year CD at a local bank. While brokers loaded up their customers on MLPs, they’ve often overlooked or flat out misrepresented the significant risks associated with these investments. Contrary to many sales pitches, MLPs are not bonds. In fact, MLPs are incredibly sensitive to oil and commodity prices. When oil and commodity prices plunge, as they recently have, MLP prices can drop, yield payments might be suspended, and some MLPs might even become illiquid meaning that you can’t sell or get out of the investment.

If you suffered losses in MLPs that you believe may have been sold to you inappropriately, give us a call. We might be able to help you recover your losses.

We often hear stories about Ponzi schemes that target a particular group or community, such as a church congregation. When a con artist chooses to target a specific group in this manner, it’s called “affinity fraud.” There have been dozens of cases of affinity fraud related to Ponzi schemes just over the last year, which have affected investors all over the nation. Unfortunately, con artists are generally willing to manipulate any advantage they can find that might get you to hand over your cash—and sometimes that means taking your cash and moving on to milk your loved ones.

Who Is a Common Victim of Affinity Fraud?

Affinity fraud targets members of specific, identifiable groups. The most commonly targeted groups include religious, ethnic, racial, professional, and senior groups, but any group whose members share a common interest or background is at risk. Affinity fraudsters use their affiliation with or membership in these groups to gain the trust of the other group members.


Con artist Amjed Mahmood, for example, targeted 300 fellow members of the Des Plaines Muslim community in a $40 million Ponzi scheme uncovered last year, and Ahmed Alabadi, a dual citizen of Iraq and the United States, cheated approximately 3,000 Iraqis (living in the U.S. and overseas) out of more than $2 million in a separate investment scheme.


As is the case with most affinity fraud schemes, both Mahmood and Alabadi used their group memberships to gain their victims’ trust. However, affinity fraudsters do not have to be members of their target group. Instead, he or she can use his or her connection to an influential group member to gain access to the group. That’s what Anthony Ray, operator of Key Funding Group and a recidivist con artist, did. Ray managed to defraud more than a dozen members of the Pine Grove Baptist Church out of nearly $660,000 by getting the church’s pastor to trust him and introduce him to members of the congregation. The victims of Ray’s scheme so believed his claims that several of them refinanced their homes and/or took out additional loans to invest more.

Unfortunately, that level of trust—and degree of financial devastation—isn’t unusual for an affinity fraud scheme. In fact, many victims of affinity fraud suffer significant losses because they believe wholeheartedly in the con artist and whatever “investment” he or she is pitching. That’s why identifying affinity fraud and knowing how to avoid it is so important – by the time a particular affinity fraud scheme is uncovered, many of its victims have already lost everything

Why Is Affinity Fraud So Effective?

It works because it narrows the focus. The benefit of doing this is twofold for the con artist:

  • Investors feel more comfortable with the fraudster. If you have something in common with the person pitching an investment, you’re more likely to feel extend your trust. A skilled con artist who has your trust can use this to talk you into (and out of) all kinds of investments.
  • Investors tell their friends and families about the “deal.” When you hear about an investment deal from a friend or acquaintance, you’re more likely to take the investment seriously. If you hear about a great investment opportunity from 5 or 6 people at your church or school, then you really take notice and get interested—the con almost sells itself!

How to Get Help If You’ve Lost Money in a Ponzi Scheme

If you or a family member has lost money in a Ponzi or pyramid scheme, don’t wait until it’s too late to get help. A Ponzi scheme attorney with Meyer Wilson can help recover your losses if you have become the victim of a scam. Reach out to us today by phone or fill out our online form.

Need More Information?

Investment misconduct can be complex and confusing. That’s why we’re here to help you. Visit our Common Questions page to find in depth answers directly from our attorneys. Get More Answers
Have You Been a Victim of Investment Fraud?

You trusted your financial advisor with your money, but now you're left wondering what went wrong. If you or a loved one suffered losses because of investment misconduct, Meyer Wilson can step in and fight to recover your losses. The team of investment fraud lawyers at the firm has been helping people like you since 1999 by winning judgments, settlements and verdicts worth hundreds of millions of dollars against brokerage firms, financial advisors and banks.

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