broker fraud

Broker Fraud Lawyers

Published on: March 22, 2023 | by Shepherd Smith Edwards & Kantas, LLP

Why The Parking REIT Investors May Want To Explore Their Legal Options

Our Broker Fraud Lawyers Are Investigating The Broker-Dealers Over Alleged Investment Scam

With so many The Parking REIT investors appearing to have lost more than 50% of their investment in a purported investment scheme, Shepherd Smith Edwards and Kantas (investorlawyers.com) are continuing to investigate the brokerage firms that marketed and sold shares in this former non-traded real estate investment trust (non-traded REIT). If you are someone who invested in The Parking REIT (now called Mobile Infrastructure Corp.), contact us here today to request your free, no-obligation case assessment.

Broker Fraud Lawsuit

Published on: February 2, 2023 | by Shepherd Smith Edwards & Kantas, LLP

Can You Sue Your Broker Over Your Investor Losses?

Filing A FINRA Lawsuit With the Help of Skilled Broker Fraud Lawsuit Attorneys

If you suffered investment losses that you believe were caused by the wrongful or negligent actions of your financial advisor, you may be able to pursue damages from them through Financial Industry Regulatory Authority (FINRA) arbitration. In this forum, you can submit your securities fraud lawsuit which will be heard by a panel of FINRA arbitrators.

Did Your Broker Recommend You Invest In The Deeproot Funds?

Published on: September 15, 2022 | by Shepherd Smith Edwards & Kantas, LLP

You May Be The Victim of a $58M Ponzi Scam

More than one year after the US Securities and Exchange Commission (SEC) filed a civil lawsuit against deeproot Funds and its owner Robert J. Mueller accusing them of running an alleged $58M Ponzi Scam that defrauded nearly 300 investors, these same alleged victims are still struggling to recover their losses without a securities attorney. Unfortunately, waiting for the SEC’s case to conclude very likely won’t help deeproot investors get most, or maybe even any, of their money back. The Commission’s main priorities in these types of complaints are to hold parties that violate securities laws responsible and issue sanctions and penalties against them.

This is why if you are a deeproot investor, it is important that you explore your legal options with the help of a skilled Texas securities lawyer. You will want to go after your broker-dealer or financial advisor that recommended this speculative, unregistered, risky private investment vehicle while very likely failing to conduct the proper due diligence to ensure that the deeproot Funds were legitimate investment ventures.

Ex-Transamerica Financial Advisors Broker Scott Allen Fries Ordered To Pay Over $747K For Allegedly Defrauding Investors

Published on: April 21, 2022 | by Shepherd Smith Edwards & Kantas, LLP

SEC Obtains Default Judgment Against Former Cincinnati, Ohio Registered Representative

The Securities and Exchange Commission (SEC) has obtained a default judgment against Scott Allen Fries. He was a Transamerica Financial Advisors registered representative from 2014 to 2019.

The regulator’s amended complaint accuses the former broker and investment advisor of raising approximately $458K from at least ten investors, including customers from the brokerage firm, and using the funds to pay for his personal expenses. Fries is barred from further fraud violations and must pay disgorgement of $428,334.53, a civil penalty of $208,500, and a prejudgment interest of $110,548.02.

Municipalities’ Inability to Pay Bond Interest Places Investors in a Precarious Position

Published on: December 14, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Seeking Greater Yield and Safety, Muni Bond Customers Encounter Defaults

Despite the fact that the coronavirus has taken a toll on city and state finances, this isn’t stopping investors from buying municipal debt in a bid for greater yield and more safety than the markets can provide at this time. Unfortunately, because many municipalities don’t have the money to pay interest on the bonds, these muni bonds are defaulting. This is bad news for investors.

If you suffered losses from the municipal bonds that your broker recommended to you, you may have grounds for an investor claim to recover your losses. Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) represents municipal bond fraud investors nationwide. We can help you explore your legal options.

New York Yankees’ Aroldis Chapman Files $3M Investment Fraud Claim Against Pro Management Resources

Published on: November 30, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Florida-Based Financial Management Company Employee Allegedly Stole Money

Albertín Aroldis Chapman de la Cruz, the star relief pitcher for the New York Yankees, has filed an investment fraud lawsuit against Pro Management Resources and several individuals. The financial management and tax planning company reportedly has also been serving as Chapman’s business manager for almost a decade. Now, the MLB pitcher is accusing the company of stealing $3M.

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) represent investors in Florida that have suffered investment losses due to broker and financial fraud or negligence. Contact us at (813) 560-2992 or by using our online contact form so that we can help you explore your legal options.

Investor Filed $150K GPB Private Placement Case Naming Capital Wealth Management Advisor Lee Duckworth

Published on: October 2, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Three Pending FINRA Arbitration Claims Accuse Triad Advisors Broker of Unsuitability

Lee Duckworth, the CEO of investment advisory firm Capital Wealth Management and a Triad Advisors stockbroker, was recently named in three Financial Industry Regulatory Authority (FINRA) arbitration claims accusing him of making unsuitable investment recommendations to customers.

At least one of the disputes involves private placements from GPB Capital Holdings, an alternative asset firm accused of running a more than $1.5B Ponzi scam. Duckworth is a West Warwick, Rhode Island broker and investment advisor.

FINRA Suspends Fired First Southern Securities Broker Jaime Sanchez Rivera

Published on: September 30, 2020 | by Shepherd Smith Edwards & Kantas, LLP

New Customer Dispute Seeks $250K in Damages

Ex-Puerto Rico stockbroker, Jaime Isaac Sanchez Rivera, was recently fired by First Southern Securities. The termination came in the wake of allegations that he didn’t notify the broker-dealer about a customer complaint right away, as well as accusations of copying and modifying documents without permission. Sanchez Rivera also was recently named in a $250K customer complaint.

In June, the Financial Industry Regulatory Authority’s (FINRA) indefinite suspension of Sanchez Rivera went into effect. The suspended stockbroker also is a former registered investment advisor, most recently with SB Advisory and FSAM, LLC.

Florida Retiree Loses Money in GPB Private Placements & REITs While Under Supervision Of CFG Capital Management Advisor Mark Cline

Published on: September 25, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Investor’s FINRA Arbitration Claim Seeks Damages of Up to $100K in GPB Private Placements and Other Securities

A Florida retiree has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against the brokerage firm, National Securities Corp.

The claimant contends that agents of National Securities Corp overconcentrated his account in real estate investment trusts (REITs), privately traded securities, and private placements. This included a large position in GPB Capital Holdings, which is accused of operating an over $1.7B Ponzi scam.

More Than 20 Investor Fraud Complaints Have Involved Ex-Morgan Stanley Broker Michael Paesano

Published on: August 26, 2020 | by Shepherd Smith Edwards & Kantas, LLP

The Latest Customer Claim Accuses Investment Advisor of Excessive Trading

Once again, an investor is blaming former Morgan Stanley stockbroker, Michael Frank Paesano, for their investment losses. These latest allegations involve excessive trading.

Although Paesano is no longer a registered broker, he is still a registered investment advisor and he may be affiliated with Axiom Investment Management. During Paesano’s 26 years in the industry, there have been more than twenty customer complaints brought against him. While four of these cases were denied, all of the other resolved claims have led to significant settlements, including one for $1.2M.