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 […]
FINRA Bars Broker Miguel Hernandez
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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 […]
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.” […]
MetLife To Pay Record Fine Of $25M
MetLife has agreed to pay $25 million to settle an investigation of abuses pertaining to variable annuities. That penalty is the greatest amount ever paid for violations regarding those products. From that $25 million, $20 million will go to FINRA as a fine and $5 million will be paid to customers for negligent misrepresentations and […]
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 […]
Complaints Against Merrill Lynch Broker For Unsuitable Recommendations
According to FINRA’s BrokerCheck, Merrill Lynch broker Heather Weber has been the subject of at least seven customer complaints. The complaints claim that Weber violated securities laws, including soliciting unsuitable investments and making misrepresentations of materials facts. [su_spacer size=”10″]In January 2016 a customer filed a complaint alleging $200,000 in damage stemming from unsuitable investment recommendations […]
Broker Faces Numerous Complaints Of Misrepresentations
According to FINRA’s BrokerCheck, New York-based Worden Capital Management broker Allan Montalbano is facing numerous customer complaints for making misrepresentations, among other allegations. [su_spacer size=”10″]Montalbano has spent 13 years in the securities industry and has been registered with Worden Capital Management in Westbury, New York since June 2015. Previous registrations include Four Points Capital Partners in […]
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 […]
Broker Accused Of Pump-And-Dump Scheme
Guy Gentile of Putnam Valley, New York allegedly ran a $17 million pump-and-dump stock scheme. Gentile faces federal counts of securities fraud and conspiracy to commit securities fraud. He was indicted late last month, according to U.S. Attorney Paul J. Fishman. The SEC filed a civil suit against Gentile late last month, as well. [su_spacer size=”10″]Gentile’s […]