+1-888-741-7503

|Richard@frankowskifirm.com

About Richard Frankowski

This author has not yet filled in any details.
So far Richard Frankowski has created 573 blog entries.

Edward Jones To Pay $20M For Bond Overcharges

Edward D. Jones & Co. will pay $20 million to settle allegations by the Securities Exchange Commission that the firm overcharged its retail customers on new municipal bond sales. The SEC claims that between 2009 and 2012 Edward Jones allegedly overcharged its clients by $4.6 million at minimum by offering the bonds at a higher price than required by securities laws. By rule, new bonds must be sold to customers at an initial offering price that is negotiated with the bond issuer. However, instead of offering these bonds at the negotiated price, Edward Jones is accused of bringing the bonds into its own inventory and later offering them at higher prices, sometimes even after the bonds had already begun to trade in the secondary market. The SEC claims Edward Jones was "at least negligent" regarding the overcharges. The SEC further stated, “Their conduct was inconsistent with industry standards for, and written agreements governing, municipal underwriting.” Edward Jones agreed to the settlement [...]

By |August 14th, 2015|Press Releases & News, SEC|
Read More

Whole Foods Alleged To Have Committed Securities Fraud

A lawsuit brought by a shareholder alleges that Whole Foods committed securities fraud by hiding the fact that it overcharged its New York customers, which resulted in negative publicity that hurt sales and drove its price share down. Plaintiff Yochanan Markman filed a complaint last week in federal court in Austin, Texas claiming that Whole Foods knew or recklessly disregarded that it consistently overstated the weight of pre-packaged products, causing the products to be overcharged. The complaint further states that Whole Foods' public statements about its operations and prospects were false and misleading. Whole Foods, which features natural and organic foods, has been sued a number of times by customers because of these overcharges. Michael Silverman, Whole Foods' Spokesman, stated that the grocer is committed to providing "transparent, accurate pricing" to customers, adding that Whole Foods has "upheld [its] responsibility to [its] stakeholders, and are confident that this complaint is baseless and without merit." Shares of Whole Foods dropped over [...]

By |August 13th, 2015|Fraud, Press Releases & News|
Read More

Nine Charged In $30M Computer Hacking, Securities Fraud

Nine alleged computer hackers were charged today for their roles in a securities fraud scheme that earned $30 million in illicit gains by stealing and trading on corporate earnings data procured from newswire services before they were published. The charges, which were brought by U.S. Attorney's Offices for the District of New Jersey and the Eastern District of New York, include securities fraud, wire fraud, fraud in connection with computers, aggravated identity theft, and money laundering conspiracy. Additionally, the SEC has announced fraud charges against these nine defendants as well as twenty-three more. Adding the earnings from these defendants, the illicit gains add up to more than $100 million. "Hacker defendants" Ivan Turchynov and Oleksandr Ieremenko, named in the indictment as computer hackers that lived in Ukraine, compromised a number of newswire services, including PR Newswire (owned by United Business Media, Dark Reading's parent company), Marketwired, and Business Wire. Tens of thousands of press releases were stolen from each of [...]

By |August 12th, 2015|Fraud, Press Releases & News, SEC|
Read More

SEC Slams Door On $114M Ponzi Scheme

Frederick Alan Voight of Richmond, Texas, a Houston-area businessman promising to prevent car wrecks caused by drowsy drivers, has been charged by the SEC with operating a $114 million Ponzi scheme. Voight has been accused of defrauding over three hundred investors. He most recently raised $13.8 million on claims that the money would be used to fund a startup, InterCore Inc., which would introduce "Driver Alertness Detection Systems" ("DADS"). Voight promised his investors extremely high returns, over forty percent, all from repayable loans to small public companies. In actuality, the money was used to pay previous investors leaving the fund, according to the SEC. Fortunately, the majority of the money has been recovered, but $22 million of Voight's allegedly illicit gains remain missing. The SEC believes the money was sent to InterCore's Canadian subsidiary, InterCore Research Canada, Inc., "where the funds seemingly disappeared." According to the SEC's complaint, Voight accrued fees and InterCore stock warrants that he failed to disclose [...]

By |August 11th, 2015|Fraud, Press Releases & News, SEC|
Read More

Fill Out The Form To Receive A Free Confidential Consultation

Consultation

The recoveries, verdicts, favorable outcomes, and testimonials described on this site are not an indication of future results. Every case is different, and regardless of what friends, family, or other individuals may say about what a case is worth, each case must be evaluated on its own facts and circumstances as they apply to the law. The valuation of a case depends on facts, the damages, the jurisdiction, the venue, the witnesses, the parties, and the testimony, among many other factors. No representation is made that the quality of the legal services performed is greater than the quality of the legal services performed by other lawyers.

Disclaimer: Mr. Frankowski is licensed in Alabama,Florida and Texas. He is not licensed in any other state including Nevada and California. Mr. Frankowski has represented investors from all over the country in securities cases including: Alabama, California, Colorado, Florida, Georgia, Illinois, Kentucky, Louisiana, Mississippi, Nevada, New Mexico New York, North Carolina, Tennessee, Texas.