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.
The Securities and Exchange Commission ("SEC") has charged Boca Raton, Florida resident Scott P. Strochak, a former broker, with making material misrepresentations regarding an investment fund scheme that targeted retail investors, and for acting as an unregistered broker. Strochak participated in a fraudulent scheme that raised nearly $3.8 million from at least 17 retail investors. The SEC halted the scheme in February when it filed an emergency action against Castleberry Financial Services Group, LLC, its president T. Jonathon Turner and its CEO Norman M. Strell.
The Securities and Exchange Commission ("SEC") brought fraud charges against a real estate company, Hartman Wright Group, LLC and its founder, Tytus W. Harkins, for raising over $8 million in an unregistered real estate-based offering fraud.
The Securities and Exchange Commission ("SEC") charges Marcus Boggs, a former Chicago investment adviser at the Chicago office of Merrill Lynch, with stealing over $1.7 million from at least three of his clients.
The Securities and Exchange Commission's Office of Investor Education and Advocacy recently issued a bulletin to educate investors about indexed annuities. Indexed annuities are complex products, and as such investors should carefully read the indexed annuity contract and any prospectus, before buying the annuity. Let's highlight the key points of the bulletin.
The Securities and Exchange Commission ("SEC") charged Brenda Smith, a Pennsylvania investment adviser, with operating an investment advisory fraud involving over $100 million in investments. The SEC also obtained an emergency asset freeze.
Saving for education is a critical for many families. FINRA offers these eight tips to help you make smart 529 savings plan choices:
Robert Shapiro, the former CEO of Woodbridge Group of Companies, has pled guilty to criminal charges as a result of running a $1.3 billion investment fraud that caused more than 7,000 investors to lose money.
Wirehouses and its advisors currently are at war for the control over clients and their assets. The fight is getting nasty as major broker-dealers are taking legal actions against advisors who leave one firm and join a competitor. Legal actions, including TROs (temporary restraining orders), are intimidating advisors and confusing clients.
A Chicago investment adviser pled guilty to investment adviser fraud for his role in allocating profitable trades to benefit himself and his family, at the expense of his firm's clients.
