Boca Raton Insurance & Financial Services Firm Accused of Ponzi Scam Many senior investors say that Seeman Holtz failed to pay out millions of dollars upon the maturity of their investments. These investors contend that they had expected to make an interest of up to 8% yearly and garner fixed…
Merrill Lynch Sold Strategic Return Notes To Retail Investors If you are an investor who lost money from Strategic Return Notes (SRNs) that were sold by Bank of America’s (BAC) Merrill Lynch, please contact our investment fraud lawyers at Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) today. The…
Frederick Randhahn, a former Sigma Financial Corporation broker, is suspended by the Financial Industry Regulation Authority (FINRA) for nine months after he allegedly sold $625K of Woodbridge promissory notes to investors without the brokerage firm’s permission and approval to sell these products. In a letter of acceptance, waiver and consent,…
The US Securities and Exchange Commission (SEC) has filed civil charges against Charles Nilosek for acting as an unregistered broker and illegally selling Woodbridge securities to retail investors. The regulator said that Nilosek, who is based in Massachusetts, was one of the top revenue earners when it came to selling…
Massachusetts Secretary of the Commonwealth William Galvin has filed an administrative complaint accusing private equity fund ARO Equity LLC, Timothy James Alcott, and Thomas David Renison of running a Ponzi scam that bilked investors of over $5.8M. Most of their victims were senior investors in their 70’s and 80’s who…
The US Securities and Exchange Commission has filed civil charges against Singer Financial Corp. and its owner Paul Singer accusing them of illegally offering unregistered securities. The regulator’s complaint contends that they raised about $3.4M from at least 70 investors via unsecured promissory notes that were not registered while failing…
Financial Firm and Its CEO Settle Life Settlement Fraud Charges The US Securities and Exchange Commission announced that Verto Capital Management and its CEO William Schantz III have settled civil charges accusing them of running a Ponzi-like scam involving life settlements. As part of the settlement, Verto Capital and Schantz…
The U.S. Securities and Exchange Commission has filed promissory note fraud charges against Onix Capital and it owner Albert Chang-Rajii. The Miami-based asset management company and Chang are accused of bilking investors who put their money into promissory notes and start-ups, as well as of falsely portraying the Chilean national…
$10M Texas Ponzi Scam Solicited Over 100 Investors Austin resident Robert Roland Langguth is sentenced to four years in federal prison for running a $10 million Texas Ponzi scam that solicited over 100 investors to become involved in real and bogus construction projects and investments. Often, the money brought in…
The Financial Industry Regulatory Authority has issued temporary cease-and-desist order against Fuad Ahmed, the president and CEO of Success Trade Securities, Inc., to stop his alleged financial fraud activities. It also put out a complaint against him and the online brokerage firm, charging them with promissory note fraud. The notes…