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Alabama Man Arrested For Alleged Securities Violations

Timothy Lowell Franks of Winfield, Alabama was arrested earlier this month for allegedly violating the Alabama Securities Act. The arrest was the result of a March 2015 Marion County Grand Jury indictment, which charged him with six counts of violations: one count of Sale of Unregistered Securities, one count of Sale of Securities by an Unregistered Agent, three counts of Fraud in Connection with the Sale of Securities, and one count of Theft by Deception, First Degree. If convicted, for the first two charges, which are Class C felonies, Franks is facing punishment of up to ten years imprisonment and a fine of $15,000 for each count. For the last two charges, which are Class B felonies, Franks faces a punishment of up to twenty years imprisonment and a $30,000 fine for each count. Franks' indictment alleges that he offered and sold securities in a coal mining operation. In connection to the securities transactions, Franks represented to investors that he [...]

By |April 14th, 2015|Press Releases & News|
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Alabama Man Pleads Guilty In Ponzi Scheme Case

Over a five year span, former Hoover, Alabama financial broker Bryan Anderson found eighteen people to invest $8.4 million in a number of investments and guaranteed that the investments were completely risk free. Roughly two thirds of those investors watched Anderson at the federal courthouse in downtown Birmingham plead guilty to operating a Ponzi scheme that lost them $3.1 million. Anderson pleaded guilty to wire fraud, money laundering, and securities fraud before U.S. District Judge Virginia Emerson Hopkins. He will be sentenced on June 16. According to the plea deal with the U.S. Attorney's Office, Anderson will pay restitution of almost $3.1 million to investors and surrender an extra $3.4 million to the federal government. The prosecutors agreed to recommend a sentence at the low-end of the spectrum. Richard Frankowski, who is representing the investors in their FINRA arbitration suits against Anderson, stated that the majority of the twelve investors identified as victims were at the courthouse for the plea. [...]

By |March 30th, 2015|Press Releases & News|
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Alabama Man Pleads Guilty To $3M Ponzi Scheme

The Frankowski Firm is currently representing a number of claimants in a case against Bryan Anderson of Hoover, Alabama. Anderson was charged today with one count each of wire fraud, securities fraud, and money laundering relating to a Ponzi scheme he operated through which he swindled investors out of over three million dollars, according to federal and state officials. Anderson reached a plea bargain with the U.S. Attorney's Office and has agreed to plead guilty. According to the agreement, Anderson will pay $3.1 million in restitution to his victims as well as the same amount to the government as proceeds from illegal activity. He will also pay an additional $368,000, the amount corresponding to the money laundering charge. According to court documents, the scheme operated from 2009 to May 30, 2014. During that time, Anderson was a registered financial broker with MetLife Securities from October 1998 to February 2012 and then Pruco Securities from February 2012 to September 2012, when [...]

By |December 30th, 2014|Press Releases & News|
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New Mexico Man Indicted On Securities Fraud Charges

Jeffrey B. Bland, a businessman from Albuquerque, New Mexico, was indicted last week on felony charges for allegedly stealing $229,000 from an elderly Alamogordo, New Mexico investor. An Otero County, New Mexico grand jury returned the criminal indictment containing eight felony charges, including securities fraud, sale of an unregistered security, and sale of a security by an unregistered agent and fraud. New Mexico Regulation and Licensing Superintendent Mike Unthank worries about frauds such as these, stating "Financial fraud against our elderly is heartbreaking because in most cases the victims have lost their entire retirement savings and are left in financial ruins." Last May, the New Mexico Securities Division got a complaint from the elderly investor, who had invested $229,000 with Bland in a promissory note issued by a property management firm. The grand jury indictment alleges that Bland only made two of the payments he represented he would make and converted a large portion of the remaining funds for his [...]

By |October 7th, 2014|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.