Wells Fargo Broker Banned By FINRA
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Alabama Man Sentenced For Securities Fraud
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UDF IV Defaults On $35M Loan
United Development Funding IV (UDF IV), a Texas Real Estate Investment Trust (REIT), has defaulted on a $35 million term loan and has suspended its distributions to shareholders. The trust has been surrounded by trouble since December, when an anonymous post on an investor website claimed that UDF IV was operating as a Ponzi scheme. […]
FL Broker Charged With $131M Scam
Pranav Patel, a stockbroker from Tamarac, Florida, has been charged in an alleged $131 million stock manipulation scam after investigations by a task force set up for President Barack Obama’s war on financial crimes, according to federal officials. Patel and eight others engaged in the multi-state scam “through a dizzying round of unauthorized trades” to […]
Promoter Pleads Guilty To Pump-And-Dump Scheme
Greg Mulholland, a penny-stock promoter, pleaded guilty to conspiring to manipulate stocks and laundering over $250 million in profits. Prosecutors are calling it one of the biggest pump-and-dump schemes of all time. A pump-and-dump scheme is the fraudulent practice of encouraging investors to buy shares in a company in order to inflate the price artificially […]
Leavitt Sanders’ Clients May Have Legal Rights
The Frankowski Firm, LLC has filed several lawsuits alleging that Leavitt Sanders and the entities he traded through committed investment fraud. These entities include Leavitt Financial Group, Inc., Sanders Yearian Advisory Group, Inc., Triad Advisors, Inc., IFC Holdings, Inc. d/b/a INVEST Financial Corporation, and Capital Asset Advisory Services, LLC. The investors allegedly defrauded, many of […]
Native American Tribal Bond Scheme Revealed
In a recent SEC press release, Jason Galanis, his father John Galanis, and five others were charged with stealing millions of dollars from investors. The Securities and Exchange Commission press release stated Jason and John Galanis, as well as Devon Archer, Bevan Cooney, Hugh Dunkerley, Gary Hirst and Michelle Norton, were charged “with defrauding investors […]
PA Financial Advisor Defrauds Pro Athletes
Louis Martin Blazer, III, a financial advisor from the Pittsburgh, Pennsylvania area took cash from numerous professional athletes to invest in movie projects in which he had an interest, according to the SEC. Blazer used roughly $2.35 million from five clients without their authorization to help finance two motion pictures: “Mafia the Movie” and “Sibling.” […]
AL Man Indicted For Alleged Securities Fraud
Jason Todd Caudle of Sylacauga, Alabama has been indicted for alleged securities fraud, following a March 11, 2016 arrest. The grand jury issued a five-count indictment. On the same day, Caudle posted a bond of $250,000 and was released. Caudle then failed to appear for his arraignment on April 5, 2016 and was arrested again […]
FINRA Bars Broker For Money Laundering And Deception
FINRA has barred James Van Doren from the securities industry for unethical conduct. Van Doren was allegedly involved in money laundering and operating a scheme to deceive a friend’s creditors and facilitate criminal conduct, including conspiracy to commit bankruptcy fraud. [su_spacer size=”10″]FINRA found that Van Doren helped a childhood friend and business associate avoid legal […]