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So far Richard Frankowski has created 573 blog entries.

Four Former Brokers from LPL Financial in Atlanta Were Charged with Variable Annuity Fraud by the SEC

The Securities and Exchange Commission has charged four former Atlanta, Georgia brokers with variable annuity fraud. Specifically, the Commission claims that they fraudulently persuaded federal employees to roll over holdings from their federal Thrift Savings Plan retirement accounts into variable annuities with more expensive fees. The alleged actions occurred roughly from March 2012 to November 2014, when the advisors--Christoper Laws, Jonathan Cooke, Danny Hood and Brandon Long--were registered representatives of LPL Financial and affiliated with Federal Employee Benefits Counselors. The Commission alleges that the brokers targeted federal employees with substantial funds in the Thrift Savings Plan and were nearing retirement through the FEBC. It further claims the advisors misled the investors regarding major details about the variable annuities they solicited, including the associated fees and guaranteed investment returns. Additionally, the SEC alleges that the advisors created the misleading impression that they were somehow affiliated with or approved by the federal government. The SEC claims the advisors sold roughly 200 variable annuities [...]

By |August 1st, 2017|Legal Matters|
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Not-So-Golden Touch: The Risks of Investing in Gold

Despite what those late-night infomercials may pitch, as a precious metal, gold really carries no greater intrinsic value than other investment options. In fact, the World Gold Council reports there were over 400 million pounds of gold in various forms of circulation as of 2015, mostly in jewelry, investments, and industry. If gold does not hold any integral value on its own, how can we explain not only the human drive to own it but also the predilection for gold investment-related fraud? Considerations for investing in gold Investing in gold certainly has its attractions. Beyond the social prestige of simply owning more of the shiny stuff, its value has been trending up 10% since a year ago. However, there are sobering reasons to believe that such an increase will inevitably be followed by a fall, based on current investment market conditions. Unlike other equities or stocks based in real world commodities, gold does not have a built-in earning per share. Gold [...]

By |July 26th, 2017|Uncategorized|
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Frankowski Firm Investigating Jerry McCutchen for Multiple Acts of Broker Negligence and Fraud

The Frankowski Firm is continuing its investigation of now-expelled securities broker Jerry McCutchen. McCutchen has been the subject of a multitude of customer complaints since 2000, the vast majority of which were filed since 2012. These complaints contain various allegations of securities law violations, including unsuitable investment recommendations, negligence, and fraud, among other causes of action. Many of the claims pertain to the alleged sale of various illiquid, risky, and speculative investments, including equipment leasing funds and non-traded real estate investment trusts, as well as variable annuities. One of the issues with these products is that they are associated with high commissions for the brokers who sell them and a small chance of success for the purchasing customer. The costs and fees of these products make it so expensive that large returns on investment are practically impossible. Further, customers are not compensated for the risks relating to these investments. Jerry McCutchen began working in the securities industry in 1983. From [...]

By |July 21st, 2017|Uncategorized|
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Frankowski Firm Investigating Westpark Capital for Potential Broker Fraud and Negligence

The law offices of The Frankowski Firm, LLC are investigating customer complaints concerning Westpark Capital, Inc. for the potential sale of unsuitable investments to their customers and failure to diversify these customers' accounts. The firm has its headquarters in Los Angeles, California, and FINRA records show it has been registered with both the SEC and FINRA since July 1999. Westpark Capital is no stranger to scrutiny. In 2010, FINRA ordered the firm to pay a sum of $400,000.00 for supervisory system failures. The regulator also suspended two officers for failing to supervise representatives in two New York branches who allegedly churned customer accounts and engaged in unsuitable and unauthorized trading in several customers' accounts. The monetary sum included a $100,000.00 fine and $300,000.00 in restitution to the injured customers. In that case, FINRA found that a number of the brokers hired by Westpark Capital at the time came from firms with long histories of disciplinary records, a number of which [...]

By |July 20th, 2017|FINRA|
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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.