Tagged with "Ponzi Scheme"

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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Investors Allege Wells Fargo Aided and Abetted Ponzi Scheme

Posted on September 3rd, 2021 at 2:10 PM
Investors Allege Wells Fargo Aided and Abetted Ponzi Scheme

A group of investors have filed a proposed class-action suit accusing Wells Fargo Bank of aiding and abetting a multimillion-dollar Ponzi scheme operated by merchant cash advance lender MJ Capital Funding LLC.

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SEC Charges Two Florida Firms and Principal Officer Over Alleged Ponzi Scheme

Posted on August 27th, 2021 at 12:47 PM
SEC Charges Two Florida Firms and Principal Officer Over Alleged Ponzi Scheme

The Securities and Commission Exchange (SEC) has been granted a temporary restraining order (TRO) as well as an asset freeze against Florida resident Johanna Garcia along with two entities she owns.

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SEC Accuses Atlanta Financial Advisor of Orchestrating a Decade-Long Ponzi Scheme

Posted on August 23rd, 2021 at 9:40 AM
SEC Accuses Atlanta Financial Advisor of Orchestrating a Decade-Long Ponzi Scheme

On August 20, 2021, the Securities and Exchange Commission (SEC) initiated a civil action (the Complaint) in Georgia federal court against an Atlanta-based financial advisor, John J. Woods (Woods, CRD No. 1949233), as well as certain related corporate entities.

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Interactive Brokers Faces Class-Action Suit Over $23 Million Ponzi Scheme

Posted on August 17th, 2021 at 11:33 AM
Interactive Brokers Faces Class-Action Suit Over $23 Million Ponzi Scheme

Interactive Brokers faces a class-action lawsuit, which was filed in Northern District of California, for allegedly aiding and abetting a $23 million Ponzi scheme.

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Two California Advisors Plead Guilty in $1.3 Billion Woodbridge Ponzi Scheme

Posted on July 23rd, 2021 at 2:38 PM
Two California Advisors Plead Guilty in $1.3 Billion Woodbridge Ponzi Scheme

Two California advisors, Dane Roseman and Ivan Acevedo, have pleaded guilty to charges relating to a $1.3 billion Ponzi scheme that impacted nearly 9,000 investors nationwide, according to federal prosecutors. Both Los Angeles natives were associated with Woodbridge Group as sales agents.

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SEC Sues Estate of Deceased Real Estate Mogul for Ponzi-Like Real Estate Scheme

Posted on June 11th, 2021 at 8:25 AM
SEC Sues Estate of Deceased Real Estate Mogul for Ponzi-Like Real Estate Scheme

The Securities and Exchange Commission (SEC) filed suit against the Estate of Kenneth Casey for allegedly misappropriating $10 million from investors.

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Woman Indicted by Federal Grand Jury over $650M Ponzi Scheme

Posted on May 21st, 2021 at 1:33 PM
Woman Indicted by Federal Grand Jury over $650M Ponzi Scheme

A Colorado woman has been charged by a federal grand jury for her involvement in a Ponzi scheme that raised nearly $650 million.

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LATEST NEWS AND ARTICLES

October 27, 2021
Former LPL Advisor Suspended For Completing 22 Trades Absent Client Consent

The Financial Industry Regulatory Authority (FINRA) has suspended and fined a former LPL advisor who allegedly completed 22 trades on behalf of a client without obtaining written consent. FINRA has issued a $5,000 fine and has suspended Michael Hartlett for 10 days.

October 26, 2021
Former Advisor Fails To Reverse Bar After Alleged $1 Million Theft From RBC

A former RBC Wealth Management advisor lost his bid to reverse an industry bar, according to an appellate decision issued by the Financial Industry Regulatory Authority (FINRA).

October 25, 2021
Firms Walk Thin Regulatory Line In Referring Self-Directed Clients To Advisors

While online trading platforms have surged in popularity during the pandemic, brokerage firms view self-directed investors as a source of new clients.