Earlier this month, the Department of Justice charged financial advisor Eddy Blizzard with both wire fraud and aggravated identity theft.
Anthony Wayne March, former operator of the non-profit organization Asset Trader in Rolesville, North Carolina, has plead guilty to a federal charge of conspiracy to commit wire fraud. The charge stems from an alleged $8.1 million Ponzi scheme.
In connection with an alleged $6.3 million Ponzi scheme, Phillip Roy Wasserman and Kenneth Murry Rossman (collectively, “Defendants”) have been charged by federal prosecutors with mail fraud, wire fraud, and conspiracy to commit wire and mail fraud. Defendants are alleged to have targeted elderly individuals and convinced those individuals to liquidate traditional investments in order to invest in “FastLife,” an insurance venture by Wasserman. Wasserman and Rossman are alleged to have made fraudulent misrepresentations and to have concealed material information when soliciting investments in FastLife.
A federal grand jury in Los Angeles has indicted investment adviser Motty Mizrahi on wire fraud charges. The SEC previously charged Mizrahi and his sole proprietorship MBIG Company in an emergency action where it obtained a temporary restraining order and subsequently a preliminary injunction against Mizrahi and MBIG, for perpetrating a fraud on their investment advisory clients.
A U.S. District Court judge in Seattle sentenced former adviser, Dennis Gibb, to five years in prison for theft, wire fraud and falsification of records, having defrauded his clients for over a decade.
A Towson millionaire pleaded guilty Thursday in a $550 million Ponzi scheme – one of the largest ever charges in Maryland. Federal prosecutors called Kevin Merrill the front man in a fraud to dupe vulnerable investors out of hundreds of millions of dollars.
Cape Code investment adviser, Kimberly Pine Kitts has pled guilty in U.S. District Court to defrauding clients out of $3 million by using an aggressive scheme to carry out fraud, wire fraud and aggravated identity theft.
Peggy Ann Fulford, 58, formerly of Houston and now residing in New Orleans, has been arrested and charged with wire fraud, mail fraud, interstate transportation of stolen property and money laundering.
In 2013, Cedar Brook Financial Partners, Michael Perlmuter, Howard Slater, and Azim Nakhooda had their securities licenses suspended and were fined after FINRA alleged that they made false statements about the safety of high-risk funds such as Medical Capital Holdings, Inc. (“MedCap”).
An Idaho broker pleaded guilty to wire fraud and to engaging in monetary transactions in property from illegal activity.
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According to a recent analysis, Reg BI-related actions quickly have ascended to the top five issues for FINRA, with fines totaling $6 million in 2023.
The Financial Industry Regulatory Authority (FINRA) has imposed fines and censured independent broker-dealers Osaic Wealth and Securities America for cybersecurity deficiencies that led to hackers accessing the private information of more than 32,000 customers.
WealthFeed leverages proprietary AI technology to collect nine real-time financial data points, including business sales, capital raises, inheritances, and job changes.
