Negligent Brokers and Investment Fraud – What You Need to Know
It is a common misconception that securities fraud is strictly handled in criminal courts. There are also civil remedies for investors who have been defrauded out of their money, or whose brokers or advisors have acted negligently. Seeking those remedies is exactly what The Frankowski Firm does. We want to speak to investors directly here […]
Will the New Administration Put an End to the Fiduciary Rule?
New Administrations bring new rules – or, in this case, they do away with the old ones. One of the regulations on the chopping block is the so-called “fiduciary rule” issued last year by the Labor Department, which said that both financial advisors and brokers who worked on 401(k) and other retirement accounts had to […]
Hamilton Ticket Resale Ponzi Scheme Investor Sues
Adam Blank, an investor in the alleged $81 million Ponzi scheme pertaining to the buying and selling of tickets to popular shows, including Adele concerts and Broadway’s Hamilton, sued his broker-dealer, alleging the firm made several false and misleading statements about its due diligence and investigation into the ticket operation. The suit was filed in […]
SEC: Meyers Associates, L.P. Ignored Pump-And-Dump Scheme
The SEC announced administrative proceedings against John D. Telfer, who worked for Meyers Associates, L.P. as the firm’s former anti-money laundering officer. The commission alleges that the firm failed to file Suspicious Activity Reports for $24.8 million worth of suspect transactions, which includes transactions in accounts controlled by Raymond H. Barton and William G. Goode […]
Dwayne Edwards Accused Of Fraud By SEC
The SEC charged Dwayne Edwards with fraud and obtained an emergency asset freeze against the South Carolina businessman. The SEC alleges that he funneled money he obtained from investors who believed their money would be used for buying and renovating senior housing facilities. According to the commission, Dwayne Edwards illicitly commingled funds from a number […]
Can FINRA’s CEO Create a New Era of Transparency?
Robert Cook, CEO of FINRA, embarked on a “listening tour” late last year. He spent months meeting with regulators, policymakers, investors and brokers (among others) to discover their primary concerns and to hear their ideas. What has emerged, it seems, is an agenda that prioritizes transparency at every level. One of the primary focuses of […]
Michael J. Breton Banned For Cherry Picking Trades
Michael J. Breton, a Massachusetts investment adviser who the SEC accused of securities fraud, has agreed to be banned from the industry after the SEC discovered he was operating an illicit cherry-picking stock scheme. The commission filed suit against Breton and his firm, Strategic Capital Management, in federal district court in Massachusetts. claiming that they […]
FINRA January 2017 Disciplinary Actions
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Registered Investment Advisors vs. Brokers: Who Do You Need?
Whether you are just beginning to build an investment portfolio, or have been investing for years, chances are you will need the guidance of a finance professional to ensure that your investments are sound and protected. Depending on your needs, risk tolerance and interests, you may find yourself working with a registered investment advisor (RIA) […]
Richard Gearhart & George McKown Charged With Securities Fraud
Richard Gearhart of Lowell, Indiana and George McKown of Indianapolis, Indiana have been indicted on fraud charges after prosecutors claim they sold securities to investors despite not being registered to do so. The two were charged with conspiracy to commit securities fraud, securities fraud, and wire fraud, said U.S. Attorney David Capp. [su_spacer size=”10″] According […]