Tag: Ponzi
Investors File Lawsuit Against National Realty Investment Advisors for “Ponzi-Like Fraud”
A group of investors filed suit on Friday against New Jersey-based National Realty Investment Advisors LLC and four of its former executives who the...
SEC Charges National Realty Investment Advisors with $600 Million “Ponzi-Like Fraud”
The Securities and Exchange Commission has charged New Jersey-based National Realty Investment Advisors LLC and four of its former executives with running a Ponzi-like...
SEC Charges Three Advisers for Recommending Multi-Million-Dollar Ponzi to Clients
The Securities and Exchange Commission filed a civil action in a Georgia district court against Michael Mooney, Britt Wright, and Penny Flippen in connection...
SEC Charges Dually Registered Broker with Operating Ponzi Scheme
The Securities and Exchange Commission has filed an emergency action and charged North Carolina-based broker and investment adviser Shawn Good with defrauding clients and...
Daughter of Imprisoned Former Securities America Broker Pleads Guilty to Federal...
The United States Attorney for the Southern District of New York reported that Vania May Bell, the former comptroller and chief compliance officer of...
Former Merrill Lynch Broker Sentenced to Seven Years for Defrauding Investors
Phillip Conley, a former registered representative, has been sentenced to 87 months in prison for defrauding West Virginia churches, pastors, and others out of...
Former Broker Sentenced to More Than Five Years for Defrauding Retail...
Edward E. Matthes, who was charged by the SEC in January 2020 with defrauding 26 elderly retail and advisory clients, has been sentenced in...
SEC Bars Former Geneos Broker Who Pled Guilty to Selling Phony...
The Securities and Exchange Commission has barred Bradley Joseph Tennison, a former Geneos Wealth Management broker who pled guilty to selling unregistered securities in...
SEC Obtains Judgment Against Former LPL Broker that Ran $5 Million...
The Securities and Exchange Commission has obtained a final judgement against James T. Booth, a former LPL Financial broker who operated a Ponzi scheme...
Former GPB Capital CEO Pleads Not Guilty in $1.8 Billion Fraud...
David Gentile, the owner and now former chief executive officer of New York-based GPB Capital Holdings, pled not guilty to fraud and conspiracy charges...
NASAA Details State Enforcement Actions Against GPB Capital
The North American Securities Administrators Association (NASAA) has reported that seven state securities agencies have filed regulatory actions against New York-based investment adviser GPB...
SEC Charges GPB With Running “Ponzi-Like Scheme,” Violating Whistleblower Laws
The Securities and Exchange Commission has charged three GPB Capital executives and their affiliated entities with running a “Ponzi-like scheme” that raised more than...
FINRA Bars Broker Accused of Referring Investors to Half-Brother’s Ponzi Schemes
The Financial Industry Regulatory Authority has barred former MML Investors Services broker, Gary Wayne Hammond, for allegedly participating in numerous private securities transactions and...
SEC Charges New York Man with Defrauding Police and Firefighters in...
The Securities and Exchange Commission has charged Gregory Altieri of Melville, New York with allegedly operating a Ponzi-like scheme that defrauded current and retired...
SEC Bars Adviser for Recommending Clients Invest $3 Million in Ponzi...
The Securities and Exchange Commission has barred adviser Craig Rumbaugh for recommending that eight of his clients invest more than $3 million in a...
Feds Arrest Alleged Ponzi Schemer Who Fled in Underwater Submersible Device
Federal agents have arrested unregistered investment adviser, Matthew Piercey, creator of investment companies Family Wealth Legacy and Zolla, who was charged with running a...
SEC Charges Fugitive Atlanta Adviser with Fraudulent Securities Offering
The Securities and Exchange Commission has charged Atlanta-based investment adviser and radio show host Christopher Burns with defrauding investors and misappropriating investor funds.
Earlier this...
FBI Seeks Help Locating Fugitive Wealth Advisor
The Federal Bureau of Investigation and the U.S. Attorney’s Office Northern District of Georgia are seeking the public’s help in locating Atlanta-based financial advisor...
SEC Obtains Final Judgment Against California Adviser Who Defrauded Senior Citizens
The Securities and Exchange Commission obtained a final judgment against California-registered investment adviser representative Paul Horton Smith Sr., his companies Northstar Communications, LLC and...
SEC Charges Unlicensed Adviser with Orchestrating $3 Million Offering Fraud
The Securities and Exchange Commission has charged Alexander Rowland with the fraudulent offer and sale of nearly $3 million of securities to approximately 122...
