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Texas Man Sentenced For Selling Unregistered Securities To Alabama Investor

Richard Waskom of McKinney, Texas pleaded guilty to one count of Sale of Unregistered Securities before Jefferson County, Alabama Circuit Court Judge Tommy Nail and was given probation for selling unregistered securities pertaining to a project to re-enter previously drilled oil wells. Waskom was sentenced, under a plea deal with prosecutors, to five years imprisonment. The sentence was suspended, and Waskom was allowed to return to Texas for his probationary period. A condition on that probationary period was verification that Waskom had paid $28,350 restitution in full to the Alabama victim. A Jefferson County Grand Jury had indicted Waskom in October 2011 on charges of violating Alabama securities laws. He was not, however, arrested until earlier this year. It is unknown whether the project behind the investment Waskom sold to the victim even exists. But according to the indictment, Waskom had failed to disclose that the requested money would be used for non-investment purposes. Waskom had approached the Alabama investor, [...]

By |October 30th, 2015|Press Releases & News|
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Mobile, Alabama Man Arrested For Alleged Securities Violations

Richard James Tucker of Mobile, Alabama was arrested last week by Baldwin County, Alabama Sheriff's Department deputies for alleged violations of the Alabama Securities Act. The arrest was subsequent to a June 2015 Baldwin County Grand Jury Indictment charging Tucker with three counts of Fraud in Connection with the Sale of Securities, including one count for each of the following: Conspiracy to Commit Securities Fraud; Employing a Device, Scheme or Artifice to Defraud; and Misrepresentation/Omitting to State a Material Fact. The charges are Class B felonies, punishable from two to twenty years in prison and up to a $30,000 fine per charge upon conviction. His bond was placed at $175,000. If you or someone you know has lost money as a result of an investment or Ponzi scheme, please contact Richard Frankowski at 888-741-7503 to discuss your potential legal remedies or complete the contact form.

By |October 7th, 2015|Fraud, Press Releases & News|
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Two Charged In Alabama Securities Fraud Case

Bruce Alexander Gwyn of Metairie, Lousiana and James Anthony Ghio of Fairhope, Alabama were arrested on charges of fraud and illegal sales, the Alabama Securities Commission announced. The indictment alleges that they offered or sold securities described as limited partnership interests in Level III Trading Partners LP to an Alabama resident. The indictment further accuses that Gwyn used the victim's cash to pay off other investors, failed to use the money as he claimed he would, or made unauthorized investments. Gywn then lied about his use of the money to the victim. Gwyn is additionally alleged to have lied to investors, telling them that they would be provided with yearly financial statements and monthly progress reports. The duo was indicted by a Baldwin Count grand jury in August. Gwyn was charged with one count of sale of unregistered securities, one count of sale of securities by an unregistered investment adviser, and three counts of fraud in connection with the sales [...]

By |September 23rd, 2015|Fraud, Press Releases & News|
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Alabama Man Sentenced In Securities Fraud Case

Kevin Jerome Brown of Hoover, Alabama is looking at a long probation sentence after pleading guilty to securities fraud, according to authorities. Brown pleaded guilty to one count of securities fraud by employing a device, scheme, or artifice to defraud and one count of acting as an unregistered securities agent in Shelby County Circuit Court on September 3. Both counts are felonies that include sentences from a year and a day to ten years and a $15,000 fine. Judge George Daniel Reeves handed down a seven-year suspended sentence and four years of supervised probation. Brown was further ordered to pay $932,852 in restitution to nine victims by making monthly payments starting October 1. Authorities claim that Brown used investor funds for personal expenses while working as a mortgage broker for The Mortgage Office, LLC and Bluestar Mortgage, LLC in Birmingham. As stated in two grand jury indictments, Brown told people that the two companies could provide mortgages to clients who [...]

By |September 10th, 2015|Fraud, Press Releases & News|
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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.