Diamond and Other Kalos Capital Brokers Are Accused of Broker Fraud Arni Diamond, who is now a registered representative with Dempsey Lord Smith, is currently the subject of a pending $200K broker fraud claim accusing him of making unsuitable alternative investment recommendations reportedly while he was a Kalos Capital broker. …
SSEK Investigating Financial Advisor That Recommended Unsuitable MLPs To Investors Shepherd, Smith, Edwards & Kantas, a law firm specializing in representing wronged investors, is looking into allegations against financial advisors that concentrated their clients in Alerian MLP ETF (“AMLP”) and other oil & gas related master limited partnerships (“MLPs”) amid…
Texas Stockbroker Purportedly Earned High Commissions From Illiquid Alternative Investments If you are an investor who was sold alternative investments by First Allied Securities broker William Fox, you may have grounds for an investor claim. Fox, an Austin, TX-based registered representative, has been accused by at least one customer, who…
Market Volatility Forces Arbitrage Funds to Temporarily Close Reports of arbitrage funds temporarily shuttering in the wake of the impact of the novel coronavirus (COVID-19) on the markets has caused concern for investors. At Shepherd Smith Edwards and Kantas (SSEK Law Firm), our investment fraud lawyers are offering free case…
Structured Notes See Steep Decline During Coronavirus Market Crisis Just weeks into the finansial crisis wrought by the novel Coronavirus (COVID-19), many investors are struggling to deal with the volatile impact of this pandemic not just on the markets but also on their portfolios. But what many of them don’t…
The Drop In Oil Prices Could Lead To Losses For Midstream MLP Investors With oil and energy stocks continuing to fall – Saudi Arabia’s threat to globally distribute millions of barrels of crude oil in order to win the oil price war over the United States and Russia has only…
National Financial Services Customers Have 60 Days To Transfer GPB Investments Five months after announcing that investors of GPB Capital Holdings private placements would no longer be carrying these alternative investments (AI) on its platform, National Financial Services (NFS) is sending letters to customers notifying them that they have 60…
Scott P. Strochak, an ex-broker, has pleaded guilty to criminal charges related to his involvement in the $3.8M Castleberry Financial Services Fraud. He is also now facing parallel civil fraud charges brought by the US Securities and Exchange Commission (SEC). Prosecutors charged Strochak, who was the Director of Alternative Investments…
An alternative investment fraud settlement has been reached between Purshe Kaplan Sterling Investments and the Saginaw Chippewa Indian Tribe of Michigan, in which the independent broker-dealer will pay $9.5M. The tribe had filed an arbitration claim contending that it didn’t know that it was paying the firm millions of dollars…
The Massachusetts securities division is widening its probe into alleged proxy voting fraud at Realty Capital Securities to include independent broker-dealers and advisers that sold RCS alternative investments, including nontraded real estate investment trusts. According to Massachusetts Secretary of the Commonwealth William Galvin’s complaint against RCS, firm employees communicated with…