Should I Sue My Brokerage Firm Over My Colorado Bankers Life Insurance Losses? Judge Orders Partial Payment to CB Life Annuity Investors With tens of thousands of Colorado Bankers Life Insurance and Bankers Life Insurance investors owed hundreds of millions of dollars for the annuity policies they purchased, a superior court judge…
What Is Affinity Fraud and How Can It Lead To Investor Losses? Getting a recommendation to work with a financial advisor from someone you know, especially if the latter and others in your community are also working with that registered broker or investment advisor, is one of the reasons that…
The US Securities and Exchange Commission (SEC) has filed fraud charges against two men claiming to be pastors of a church at a strip mall in Orange County, California. Kent R.E. Whitney and David Lee Parrish are accused of targeting members of their local Vietnamese community and defrauding investors of…
William Neil Gallagher, a Dallas area-based radio host based who calls himself the “Money Doctor,” is now facing securities fraud charges accusing him and his companies, Gallagher Financial Group and W. Neil Gallagher, PhD Agency, Inc., of seeking to defraud older investors of their retirement money in a $19.6M Texas-based…
Wyoming Investment Manager Indicted for Allegedly Bilking Retired Investor Tyris D. Maxey has been indicted on multiple counts of wire fraud and he was arrested this week. Maxey, a Wyoming investment manager, owns RB Mister Enterprises LLC. He allegedly convinced a retired school teacher to give him about $950K to…
According to a new study recently published in The Review of Financial Studies, the Bernie Madoff Ponzi Scam not only bilked over 10,000 investors of billions of dollars, but it also caused many in the investing public to stop trusting the financial industry. The study is called Trust Busting: The…
Stephen J. Hatch, the mastermind of a $70M Arizona Ponzi scam, has been sentenced to five years in prison. Hatch, who pleaded guilty to fraud, targeted Christian investors, causing many of them to lose their life savings. As part of his plea deal, the Texas man agreed to pay back…
SEC Charges Man Accused of Running $10M Ponzi Scam Mark Anderson Jones, whom the US Securities and Exchange Commission has charged with fraud, has been sentenced to 70 months in prison in a parallel criminal case. Jones pleaded guilty to running a $10M Ponzi scam. According to the SEC, Jones…
The US Securities and Exchange Commission filed fraud charges against Larry Holley, a pastor with the Abundant Life Ministries in Flint, Michigan. According to the regulator, the pastor used faith-based verbiage to solicit investments from his targets in what he led them to believe was a successful real estate business…
The U.S. Securities and Exchange Commission is suing Earl D. Miller for securities fraud. According to the regulator, the Indiana man bilked investors, many of whom were Amish and new to investing, through private investment vehicles 5 Star Capital LLC and 5 Star Commercial LLC. The SEC says Miller began…