The U.S. Securities and Exchange Commission (“SEC”) charged advisor Mark J. Boucher and his company, Strategic Wealth Advisor Group Services, Inc., with fraud.
Clarence Dean Alford, former Georgia State Legislator, has been charged by the U.S. Securities and Exchange Commission (“SEC”) with defrauding investors. The alleged fraud steams from Allied Energy Services LLC, Alford’s now-bankrupt energy development company.
The U.S. Securities and Exchange Commission (“SEC”) filed charges against Victor Lee Farias and Integrity Aviation & Leasing, LLC, (“IAL”) alleging that Farias and IAL defrauded investors. According to the SEC, many of Farias’ victims are retired San Antonio police officers.
Michael Barry Carter, a former advisor at Morgan Stanley, pleaded guilty to federal charges of wire fraud and investment advisor fraud. According to the United States Department of Justice (“DOJ”), Carter stole more than $6 million over a period of almost 12 years. The DOJ said that most of Carter’s victims were senior investors.
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.
It was really fun seeing you fight for us. You have an amazing way of thinking out of the box.
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.
