Customers Were Sold Private Equity Shares By Ex-Georgia Broker and Southport Capital Investment Adviser John Woods A Financial Industry Regulatory Authority (FINRA) arbitration panel in Atlanta has ordered Oppenheimer & Co. to pay several investors $36.7M in the wake of losses sustained in the alleged $110M Horizon Private Equity III…
Ex-Morgan Stanley Broker Accused of Defrauding Investors, Including Retirees The Securities and Exchange Commission (SEC) has filed civil charges against former Morgan Stanley financial advisor Shawn Edward Good accusing him of operating a years-long Ponzi scheme and misappropriating millions of dollars from customers. Shawn Good is accused of raising at…
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…
Ex-Texas Financial Advisor Allegedly Killed An Investor While Operating a Ponzi Scam Keith Todd Ashley, who was fired by Parkland Securities in October 2020 and is charged with murder, is now also facing Financial Industry Regulatory Authority (FINRA) charges. FINRA filed its complaint in December 2021 and is alleging that…
Former New Jersey Financial Advisor Allegedly Targeted Florida Doctors James Alan Seijas, an ex-Wells Fargo Clearing Services broker, was barred by the Financial Industry Regulatory Authority (FINRA) beginning November 2, 2021. The former New Jersey investment advisor did not provide information in the self-regulatory organization’s (SRO’s) investigation into his alleged…
Deceased New York Broker Philip Incorvia May Have Defrauded Investors A retired couple living in Florida has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against broker-dealer Henley & Co. over losses they suffered while working with Philip Robert Incorvia as their registered financial advisor. Incorvia, who died in…
Barred Stockbroker is Accused of Running Ponzi Scam That Defrauded Elderly Investors Felix S. Chu, a former NYLIFE Securities registered representative, is currently facing at least two customer disputes in which the claimants are seeking $5,230,000 in damages. Chu was barred by the Financial Industry Regulatory Authority (FINRA) last year.…
State Lawsuits Come After SEC Complaint and FBI Arrests New York Attorney General Letitia James is suing GPB Capital Holdings along with five co-defendants for running a mass Ponzi scam. The NY AG contends that the alternative asset firm and private equity fund manager, which is based in the state,…
FINRA Suspends Nebraska Stockbroker Who Marketed An Alleged $300M Ponzi Scam to Customers Troy Robert Baily, a former SagePoint Financial broker, has been suspended by the Financial Industry Regulatory Authority (FINRA) for six months. Baily, who is also a previously registered investment advisor, is based in Nebraska. The suspension comes…
Rand Heckler of Rand Heckler, Inc. is Now The Subject of SEC and Criminal Fraud Charges Former stockbroker Rand Allan Heckler of Long Island, New York, is facing US Securities and Exchange Commission (SEC) charges accusing him of investor fraud. Heckler, who was barred by the Financial Industry Regulatory Authority…