ALJ Rules Atlanta Company And Principals Committed Fraud
Administrative Law Judge Cameron Elliot found that Timbervest LLC and its four principals committed fraud and ordered the group to disgorge nearly $2 million in illegal gains. Timbervest is an Atlanta company that manages over $1.2 billion in investments pertaining to timber. The SEC alleged that in 2006 and 2007, Timbervest’s CEO, CIO, COO, and […]
Colorado Resident Charged With Offering Fraud In Atlanta
Heidi Ann Gamer was charged last week by the SEC with operating a $771,900 offering fraud involving two companies, one of which was based in Atlanta, Georgia. Gamer’s victims included people who participated in substance-abuse programs. Gamer was CEO of Gamer Media Partners Corp. out of Atlanta and Gamer Economic Systems LCC out of Colorado. […]
Ponzi Schemes Year In Review: Volume I
Throughout the year, the Frankowski Firm has investigated a number of Ponzi schemes. Thousands of investors have lost millions of dollars by unwittingly putting their money into Ponzi schemes all across the country. This Year In Review summarizes many of the Ponzi schemes that have been uncovered over the past year. Monterey, California financial talk […]
Bank Of America To Pay Record $16.65B
Last Thursday, Bank of America and two of its subsidiaries agreed to settle its case with the U.S. Department of Justice for $16.65 billion. The settlement will put to end claims that the bank engaged in faulty lending during the housing boom years, making it the biggest settlement stemming from the 2008 financial crisis. The […]
Florida CEO Pleads Guilty In $3M Fraud Scheme
Cecil Franklin Speight, sole owner and CEO of International Stock Transfer of Palm Beach, Florida pleaded guilty last month to conspiracy to commit mail fraud and securities fraud for operating a scheme in which he conned investors out of $3 million. According to the SEC, Speight utilized “aggressive boiler room tactics” and faux investment firms […]
Three Sentenced For Church-Targeting Ponzi Scheme
The Frankowski Firm is currently investigating a Ponzi scheme aimed at church-goers. Two people from North Carolina and one from Florida were sentenced earlier this month for what federal authorities have called a church-targeting Ponzi scheme. All three individuals had previously testified against Thomas Kimmel from Indiana who was the alleged mastermind of the operation. […]
FINRA Panel Orders Morgan Stanley To Pay $4.5M
Resources Know your rights, the relevant laws, and what questions to ask BEFORE you agree to an investment America’s individual and institutional investors have suffered enormous financial losses in recent years due to misrepresentations, omissions, and investment scams perpetrated by brokers and brokerage firms. The Frankowski Firm is dedicated to standing up for investors’ rights. […]
Indiana Investment Advisor Pleads Guilty To Securities Fraud
Resources Know your rights, the relevant laws, and what questions to ask BEFORE you agree to an investment America’s individual and institutional investors have suffered enormous financial losses in recent years due to misrepresentations, omissions, and investment scams perpetrated by brokers and brokerage firms. The Frankowski Firm is dedicated to standing up for investors’ rights. […]
State Of Kansas Charged With Securities Fraud
On Monday, the SEC accused the state of Kansas of securities fraud, alleging that it failed to disclose funding problems with its public pension when it held bond offerings in 2009 and 2010. Kansas is now the third state the SEC has taken action against for violating municipal bond disclosure rules. New Jersey was first […]
Investors Hope To Keep UBS Suit In Puerto Rico
A $5 million putative class of plaintiffs accusing UBS AG of soliciting to elderly investors risky mutual funds that ended up losing billions asked a Puerto Rico federal court last week to block UBS’ attempt to transfer the suit to New York, noting the strong ties the case has to Puerto Rico. The plaintiffs instead […]