Tagged with "Ponzi Scheme"

SEC Charges Three Additional Advisors for Recommending Horizon Ponzi Scheme to Investors

Posted on June 22nd, 2022 at 1:17 PM
SEC Charges Three Additional Advisors for Recommending Horizon Ponzi Scheme to Investors

The Securities and Exchange Commission (SEC) has filed suit against Michael Mooney, Britt Wright, and Penny Flippen pertaining to their engagement with a Ponzi scheme, which raised at least $110 million from nearly 400 investors.

 
 

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SEC Obtains Emergency Relief To Halt Alleged Ponzi Scheme

Posted on June 3rd, 2022 at 8:40 AM
SEC Obtains Emergency Relief To Halt Alleged Ponzi Scheme

The Securities and Exchange Commission (SEC) has successfully obtained emergency relief, including asset freezes, against two investment advisory firms and their owners for allegedly selling pre-IPO shares that they did not own.

 
 
 

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Federal Jury Convicts Sarasota Advisor Over $80 Million Ponzi Scheme

Posted on May 12th, 2022 at 1:15 PM
Federal Jury Convicts Sarasota Advisor Over $80 Million Ponzi Scheme

A federal jury has convicted a Sarasota-based advisor, Michael DaCorta, for conducting an $80 million Ponzi scheme.

 
 
 

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SEC Obtains TRO and Asset Freeze Against Alleged Perpetrators of $450 Million Ponzi Scheme

Posted on April 25th, 2022 at 12:21 PM
SEC Obtains TRO and Asset Freeze Against Alleged Perpetrators of $450 Million Ponzi Scheme

The Securities and Exchange Commission (SEC) has charged and obtained an asset freeze against numerous Las Vegas-based individuals and entities for allegedly operating a $450 million Ponzi scheme involving purported personal injury settlements.

 
 

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New York Advisor Receives 17-Year Prison Sentence Over Ponzi Scheme

Posted on January 18th, 2022 at 1:43 PM
New York Advisor Receives 17-Year Prison Sentence Over Ponzi Scheme

A New York-based advisor, Perry Santillo, received a 17-year prison sentence for his role in operating a Ponzi scheme that generated at least $115 million from more than 1,000 investors.

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Ohio Advisor Pleads Guilty In $9.3 Million Ponzi Scheme

Posted on January 14th, 2022 at 12:37 PM
Ohio Advisor Pleads Guilty In $9.3 Million Ponzi Scheme

A former Northeast Ohio-based advisor, Tara Brunst, has pleaded guilty to her role in a $9.3 million Ponzi scheme.

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Comerica, Woodbridge Ponzi Victims’ $54.2 Million Settlement Approved

Posted on December 30th, 2021 at 1:13 PM
Comerica, Woodbridge Ponzi Victims’ $54.2 Million Settlement Approved

Comerica Bank and investors who were harmed in Woodbridge’s $1.2 billion Ponzi scheme have won final approval of their $54.2 million settlement.

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Oppenheimer Faces Class Action Suit Over Ponzi Scheme – Horizon Private Equity

Posted on September 13th, 2021 at 12:20 PM
Oppenheimer Faces Class Action Suit Over Ponzi Scheme – Horizon Private Equity

Oppenheimer & Co. (Oppenheimer) is facing a proposed class-action suit alleging that a $110 million Ponzi scheme was conducted by one of the investment banking company’s advisors.

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SEC Charges Minnesota Couple Over $17.6 Million Ponzi Scheme

Posted on September 10th, 2021 at 12:42 PM
SEC Charges Minnesota Couple Over $17.6 Million Ponzi Scheme

The Securities and Exchange Commission (SEC) has obtained a temporary restraining order (TRO) and asset freeze against a Minnesota couple who allegedly operated a Ponzi scheme for nearly a decade, which impacted at least 200 investors and raised almost $18 million.

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SEC Obtains Emergency Relief and Files Suit Over Alleged $18 Million Ponzi Scheme

Posted on September 9th, 2021 at 1:35 PM
SEC Obtains Emergency Relief and Files Suit Over Alleged $18 Million Ponzi Scheme

The Securities and Exchange Commission (SEC) reported that it has obtained a temporary restraining order (TRO) as well as an asset freeze against Bullard Enterprises LLC and its owners, Jason Bullard and Angela Romero-Bullard.

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LATEST NEWS AND ARTICLES

September 23, 2022
CFP Board Lifts Interim Suspension of Former UBS Advisor

The Certified Financial Planner Board of Standards (CFP Board) has lifted an interim suspension it had imposed against a former UBS advisor after criminal fraud charges against him were recently dismissed.

September 22, 2022
FINRA Penalizes Baird Over $100 Trading Commissions

The Financial Industry Regulatory Authority (FINRA) has ordered Robert W. Baird & Co. to pay $461,481 plus interest due to allegations that the firm overcharged its clients on thousands of equity transactions for at least one year.

September 21, 2022
FINRA Arbitrators Award Nearly $470,000 To Investors in UBS YES Product

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered UBS to pay nearly $470,000 to clients who invested in a complex options strategy, known as the YES or Yield Enhancement Strategy.