The SEC has announced it will bring charges against the Woodbridge Group and its founder, Robert Shapiro, for a $1.2 billion Ponzi scheme. The Frankowski Firm is currently accepting cases on behalf of California investors who were defrauded out of their investments. We invite you to learn more about the case.
MML Investors Services Broker Brian Michael Travers has been barred by FINRA for failing to cooperate with their investigation into claims of undisclosed outside business activities and private securities transactions. MML has been censured, sanctioned and fined for its tactics with investors. If you are a Long Island investor who worked with MML Investor Services or with stock broker Brian Michael Travers, you may be able to make a claim. We invite you to learn more.
The SEC has charged Aequitas Capital Management and a number of its executives with allegedly running a Ponzi scheme, which could have defrauded Oregon investors out of $350 million. The Frankowski Firm is actively pursuing cases on behalf of investors in Oregon who have sustained significant losses. If you invested your money with Aequitas Capital Management, we invite you to learn more about the charges.
The Financial Industry Regulatory Authority (“FINRA”) has announced a fine of $4 million and required an additional $2 million in restitutionary damages from Fifth Third Securities, Inc. for its failures to consider and accurately describe the costs and benefits of variable annuity exchanges, and for recommending variable annuity exchanges without a reasonable basis to believe the exchanges were suitable. According to the FINRA release, Fifth Third’s principals approved approximately 92 percent of the variable annuity exchange applications submitted to them for review, even though such exchanges are complex investments with costs that may outweigh the potential benefits of the transaction. In a random sample of Fifth Third’s variable annuity exchanges from 2013 to 2015, FINRA found that Fifth Third had misstated or omitted at least one material fact related to the costs or benefits of the exchange in approximately 77 percent of the reviewed transactions. Variable annuities are complex investments that are high-cost vehicles with a handful of narrow benefits [...]
