UBS has been sued by two theater production companies, Player to be Named Later and Smokey Joe’s Café Broadway Revival, which alleged that the bank’s negligence allowed the theater companies to be defrauded. According to the Complaint filed in federal court, UBS breached its fiduciary duty and was guilty of negligent supervision.
The U.S. Securities and Exchange Commission (“SEC”) filed a Complaint against Paul R. Montgomery, Jr., Michael D. Fisher and James H. Willingham, Jr. (collectively “Defendants”), alleging that Defendants committed fraud in connection with the sale of joint venture interests in two oil and gas projects. According to the SEC, Defendants told investors that new oil and gas wells would be drilled and existing wells would be reworked as part of Navarro Phase I project and Seguin Development Phase II project. The SEC alleged that Defendants promised investors 32% returns on their investment.
The U.S. Securities and Exchange Commission (“SEC”) filed charges against TCA Fund Management Group Corp., accusing the firm of inflating the revenue of its main fund and distributing false documents to investors and the SEC. The SEC is seeking disgorgement, a civil penalty and the appointment of a receiver to wind up the business.
The Securities and Exchange Commission convinced a federal court to freeze assets and put an advisory firm into receivership.
Several law firms have redoubled their efforts to solicit investors in the GPB fraud Ponzi scheme. One law firm recently filed a GPB fraud case against Pruco Securities and Kalos Capital for wrongful sale of private placements, including GPB Capital on behalf of an elderly investor who purportedly has suffered investment losses over $250000.
Jeffrey and Paulette Carpoff are being accused by the Securities and Exchange Commission (SEC) of running a nearly one billion dollar Ponzi scheme.
According to a November 26th press release, the Securities and Exchange Commission (“SEC”) has revoked the registration of investment adviser International Investment Group LLC (“IIG”), following charges of “securities fraud for hiding losses in its flagship hedge fund and selling at least $60 million in fake loan assets to clients.”
A former Premium Point Investments trader received 40 months in prison for what federal prosecutors called a scheme to overinflate the fallen hedge fund's assets by $100 million by soliciting fake price quotes from a corrupt broker.
A federal judge has found former Philadelphia Eagles' linebacker guilty for a second time of defrauding his former coaches and other investors.
A federal jury convicted a former Philadelphia Eagles linebacker and Minnesota Vikings alumni Merrill Robertson Jr. in a retrial for his role in a $10 million fraud scheme.
