Monday, October 31, 2016

United Development Funding IV Investors Represented by Peiffer Rosca Wolf Lawyers File Arbitration Claims Against Broker-Dealers That Sold UDF Products

New Orleans stockbroker fraud attorney

New Orleans stockbroker fraud attorney

United Development Funding IV investors represented by Peiffer Rosca Wolf investor right lawyers have started filing claims against brokerage firms that sold them unsuitable UDF products. The Peiffer Rosca Wolf attorneys overseeing the securities arbitration claims filed on behalf of clients, Alan Rosca and James Booker, are working to file additional claims on behalf of many other UDF investors against brokerage firms that made inappropriate investment recommendations of such products to  their customers.

United Development Funding IV investors continue to contact the Peiffer Rosca Wolf investors rights attorneys in the wake of news that UDF received a Wells Notice from the Securities and Exchange Commission, as well as being delisted from trading on NASDAQ and listed on the OTC grey market.

The Peiffer Rosca Wolf attorneys will continue to pursue action on behalf of investors against brokers that provided inappropriate products and recommendations regarding UDF products, including UDF IV. The firm would like to hear from investors who purchased UDF products as it prepares to take further action on behalf of more UDF investors.

The investor right lawyers at Peiffer Rosca Wolf typically represent investors on a contingency fee basis, with no money down. They advance they case costs and only get paid for their fees and the case expenses if and when they recover money for their clients.

Investors who believe they lost money as a result of UDF’s alleged Ponzi scheme can contact the attorneys at Peiffer Rosca Wolf, Alan Rosca or James Booker, at 888-998-0520, or via email at arosca@prwlegal.com for a free, no obligation evaluation of their recovery options.



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Wednesday, October 19, 2016

United Development Funding IV Suspended from NASDAQ, Fails to File Financial Statements, Receives Wells Notice; Peiffer Rosca Wolf Lawyers Filing More UDF Investor Cases

investment fraud attorney ClevelandUnited Development Funding investors are continuing to contact the Peiffer Rosca Wolf law firm in the wake of the news regarding UDF’s receipt of a Wells Notice from the Securities and Exchange Commission and UDF IV being suspended from trading on Nasdaq.

Hundreds of UDF investors have contacted the Peiffer Rosca Wolf investor right lawyers.  The Peiffer Rosca Wolf lawyers overseeing this matter, Alan Rosca and James Booker, have been filing cases on behalf of investors against brokerage firms that made improper investment recommendations to their customers regarding the UDF investments.

United Development Funding IV (‘UDF”), a troubled Real Estate Investment Trust based in Grapevine, Texas, has announced its upcoming delisting by the NASDAQ Exchange. The news comes after UDF was suspended from trading in February, 2016, following an FBI raid on its headquarters. UDF told NASDAQ on October 13 that it would not be able to complete an audit in time to meet a NASDAQ-imposed deadline for submission of disclosure documents.

UDF also told NASDAQ that it had received a “Wells Notice” from the Securities and Exchange Commission (“SEC”) informing it that the SEC intends to recommend enforcement action against the Trust.

Receipt of the Wells Notice and the delisting are both signs of UDF’s continuing troubles, which Peiffer Rosca Wolf securities lawyers have followed for months. The firm would like to hear from investors who purchased UDF shares, as it prepares to take action on behalf of more UDF investors.

Investors who believe the y have lost money as a result of UDF’s alleged Ponzi scheme can contact the lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, at 888-998-0520 or via email at arosca@prwlegal.com, for a free, no-obligation evaluation of their recovery options.



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Tuesday, October 18, 2016

Jeffrey Hamilton Howell—False Reports to Customers, Overvaluing Customer Accounts

New Orleans investment fraud attorneyJeffrey Hamilton Howell Allegedly Created and Sent His Customers Over 300 Weekly Stock Trading Reports Misstating Values Ranging from $289,000 to Approximately $3,000,000

Jeffrey Hamilton Howell, from September 2008 through November 2014, allegedly created and sent his customers over 300 weekly stock trading reports misstating account values ranging from $289,000 to approximately $3,000,000, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Alan Rosca and James Booker.

Howell also later allegedly changed three UBS account statements to line up with the purportedly false information in the Stock Tracking Reports, the AWC also reports.

The Peiffer Rosca Wolf securities lawyers are currently investigating Jeffrey Hamilton Howell’s alleged false reporting to customers.

Jeffrey Hamilton Howell Barred by FINRA for Allegedly Falsifying Customer Reports

Jeffrey Hamilton Howell allegedly impermissibly used his personal e-mail account in order to send a certain number of the aforementioned false reports to his customers, according to said AWC presently under review by attorneys Alan Rosca and James Booker.

As a result of the aforementioned behavior, Howell allegedly violated NASD and FINRA Rules and hence has been barred by FINRA, the AWC notes.

One should also note that, according to the AWC, Jeffrey Hamilton Howell neither admitted nor denied the FINRA findings.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of false reports to customers and are currently investigating Jeffrey Hamilton Howell’s alleged false reports to customers and overvaluation of customer reports. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Jeffrey Hamilton Howell’s alleged false reports to customers and overvaluation of customer reports may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.



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Ameriprise Financial—Failure to Supervise Broker

investment fraud attorney ClevelandAmeriprise Financial Allegedly Failed to Supervise a Broker who Purportedly Took Advantage of Family Members, Taking in More than $370,000 from Five Ameriprise Customers

An Ameriprise Financial allegedly failed to supervise a rep who purportedly took advantage of his family for financial gain,   according to FINRA Documents currently under review by attorneys Alan Rosca and James Booker.

Said representative, a former sales assistant and office manager, brought in more than $375,000 from five Ameriprise customers from October of 2011 through September 2013, said FINRA documents allege.

The Peiffer Rosca Wolf securities lawyers are currently investigating Ameriprise Financial’s alleged failure to properly supervise a representative.

Ameriprise Financial Fined $850,000 for Failing to Identify a Broker Who Allegedly Transferred Funds to an Account for Personal Gain.;  Broker Evidently Left Sloppy Evidence in a Trash Can

An Ameriprise Financial Rep allegedly took advantage of his domestic partner, mother, step-father, and grandparents in order to make off with $370,000,   according to FINRA Documents currently under review by attorneys Alan Rosca and James Booker.

Ameriprise, as a result, has been fined $850,000 by FINRA, according to FINRA documents. Said rep allegedly submitted request forms to transfer funds into the business bank account of the office in which he worked, allegedly to make investments, but instead took funds from that account to pay himself, FINRA notes.

The alleged acts were only uncovered after an employee reportedly found evidence in a trash can that the aforementioned broker had been practicing the signature of family member whom from whom he was working on a plan to siphon funds, FINRA notes.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged securities fraud scams and are currently investigating Amerprise Finacial’s alleged lack of supervision of a registered rep. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Amerprise Finacial’s alleged lack of supervision of a registered rep may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.



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Jerome “Joe” Bonnett Jr.—Ponzi Scheme

Cleveland stockbroker fraud lawyerJerome “Joe” Bonnett Jr. Allegedly Ran a Meticulous $1.35 Million Ponzi Scheme Involving a Few of His 83 Clients

Jerome “Joe” Bonnett Jr., of Omaha, Nebraska, allegedly operated a $1.35 million Ponzi Scheme involving a few of his 83 clients, according to reports from Douglas County.

Said reports also made note that Bonnett Jr. also, in a rare turn of events, apparently left   copious notes detailing how much cash he allegedly siphoned and the purported profits his customers could have made.

Bonnett Jr. allegedly stole from widows and lied to clients, Douglas County officials reported.

Jerome “Joe” Bonnett Jr.’s Suicide Allegedly Will Spur Life-insurance Payments to Purported Victims

In a rather bizarre turn of events Omaha financial advisor Jerome “Joe” Bonnett Jr. allegedly set up life insurance policies which will repay his alleged fraud victims, according to reports from Douglas County.

Bonnett Jr.’s life insurance policies will pay out a combined $7 million, over $5 million more than the $1.3 million lost by actions related to Bonnett’s violations of Nebraska securities laws, Douglas County officials report.

Rita Smedra, one alleged victim, is set to take in $682,000 from Bonnett Jr.’s life insurance, almost twice as she and her husband had invested, according to reports from Douglas County.

The Peiffer Rosca Wolf Securities Lawyers Often Assist Investors

The Peiffer Rosca Wolf securities lawyers assist investors who lose money as a result of alleged Ponzi schemes. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Ponzi schemes are encouraged to contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.



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Monday, October 17, 2016

Richard Lee- Unsuitable Recommendations

California stockbroker fraud attorneyRichard Lee Allegedly Made Unsuitable Recommendations of an Active Trading Investment Strategy to His Customers

Richard Lee, who has been associated with CISC since July 9, 2013, allegedly made unsuitable recommendations for an active trading investment strategy, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

FINRA further alleges that for about four and a half years CISC, through registered reps and principals, allegedly put growth before compliance, profits before customers, and purportedly lacked in transparency, the Complaint reports.

The Peiffer Rosca Wolf securities lawyers are currently investigating Richard Lee’s alleged unsuitable recommendations.

Richard Lee Barred by FINRA; No Monetary Sanctions have been Imposed on Lee Due to His Alleged Inability to Pay

Richard Lee allegedly made an unsuitable recommendation of an active trading investment strategy to his customer, and therefore violated FINRA Rules, according to a Complaint from FINRA’s Department of Enforcement presently under review by attorneys Alan Rosca and James Booker.

Hence, Lee has been suspended by FINRA for 18 months in all capacities from associating with any FINRA member firm and must by examination before re-entering the securities industry in any capacity, FINRA notes.

Finally, as Lee has reportedly submitted a sworn financial statement and demonstrated an inability to pay, and regarding the news of his financial status, FINRA allegedly has imposed no monetary sanctions, FINRA reports.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of unsuitable recommendations and are currently investigating Richard Lee’s unsuitable recommendations for an active trading investment strategy. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of unsuitable recommendations for an active trading investment strategy may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.



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Alec Rivera—Financial Fraud

New Orleans stockbroker fraud lawyerAlec Rivera Allegedly Transferred Over $1 Million from Client Accounts without Consent

Alec Rivera, from 2010 to 2013, allegedly transferred over $1 million from client accounts without consent and purportedly put the cash into other accounts, according to Court Documents from Chicago currently under review by attorneys Alan Rosca and James Booker.

Rivera, a former Merrill Lynch financial advisor, allegedly told his colleagues that the clients had given him authorization to move the funds, according to documents filed by the prosecution.

The Peiffer Rosca Wolf securities lawyers are currently investigating Alec Rivera’s alleged financial fraud.

Alec Rivera Allegedly Used Chamber of Commerce Bank Accounts to Write Checks to Himself

Alec Rivera allegedly used his former position as treasurer to write checks to himself with amended subject lines such as “IRS attorney payment”, according to Court Documents from Chicago presently under review by attorneys Alan Rosca and James Booker.

Rivera, who had been barred by FINRA in 2014, allegedly sent client account documents to himself, said Documents report.

Finally, Rivera then allegedly sent falsified statements to clients which failed to the aforementioned Court Documents.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating Alec Rivera’s alleged investment fraud. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Alec Rivera’s alleged investment fraud scheme may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.



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Friday, October 7, 2016

Traffic Monsoon’s Alleged Fraudulent Scheme Under Investigation by Peiffer Rosca Wolf Attorneys

Cleveland stockbroker fraud lawyerTraffic Monsoon and Charles Scoville are alleged to have conducted a fraudulent scheme that spanned continents, affected over 160,000 Traffic Monsoon members/investors and raised over $200 million according to a federal lawsuit filed by the Securities and Exchange Commission.  That lawsuit is ongoing and the court has appointed a receiver.

Traffic Monsoon Members/Investors’ Potential Recovery Options for Money Transferred to the Alleged Fraudulent

Traffic Monsoon members/investors have been in contact with attorneys at the Peiffer Rosca Wolf law firm who are investigating actions that members/investors could potentially take to supplement amounts that the receiver may be able to recover in the federal lawsuit against Traffic Monsoon.

The Peiffer Rosca Wolf are preparing to take action against entities that, their investigation indicates, likely assisted in the perpetration of the Traffic Monsoon alleged fraud.

What Traffic Monsoon Members/Investors Can Do

Peiffer Rosca Wolf lawyers often represent investors who lose money as a result of alleged fraudulent investment schemes and are currently investigating the alleged fraudulent scheme conducted by Traffic Monsoon and Charles Scoville.  Our firm takes most cases of this type on a contingency fee basis and advances the case costs.  The firm only gets paid for fees and costs out of money the firm recovers for clients.

Investors who believe they lost money as a result of Traffic Monsoon’s alleged investment fraud scheme are encouraged to contact Alan Rosca, James Booker or Lydia Floyd in the Cleveland office of Peiffer Rosca Wolf, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or jbooker@prwlegal.com.



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Tuesday, October 4, 2016

Markel Newton– Private Placement Offerings

investment fraud attorney ClevelandMarkel Newton Allegedly Participated in Three Private Placement Offerings Involving Purported Negligent Misrepresentations and Omissions

Markel Newton allegedly participated in three private placement offerings involving purported negligent misrepresentations and omissions, according to a FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Alan Rosca and James Booker.

Newton, from 2009 through 2013, allegedly failed to disclose a judgment in each of the offerings, the AWC further notes. For example, in 2012 a judgment was entered against Newton for $1,903,231.86 in a case for alleged breach of defendants’ obligation to repay lines of credit with the bank, the AWC also reports.

The Peiffer Rosca Wolf securities lawyers are investigating on behalf of investors in the aforementioned private placements and are preparing to take action.

Markel Newton Allegedly Made Misrepresentations to Sellers Regarding Cash in Earnest and also Allegedly Conducted Certain Activities without the Necessary Real Estate License

Markel Newton allegedly made misrepresentations to sellers regarding earnest money and also allegedly took part in various activities which required a real estate license, according to the aforementioned AWC presently under review by attorneys Alan Rosca and James Booker.

Newton, for example, allegedly prematurely released escrow funds before getting to the minimum contingency, the AWC reports.

Finally, in another offering Newton allegedly failed to meet the minimum contingency through bona fide sales in another offering, the AWC also notes.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged private placement offerings and are currently investigating Markel Newton’s alleged participation in three private placement offerings involving purported negligent misrepresentations and omissions. They are looking into the case on behalf of investors in the aforementioned private placements and are preparing to take action.

Investors who believe they lost money as a result of Markel Newton’s alleged participation in three private placement offerings involving purported negligent misrepresentations and omissions may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.



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Monday, October 3, 2016

Bryan Lee Addington—Investment Fraud, Ponzi Scheme

Rochester stockbroker fraud attorneyBryan Lee Addington Allegedly Ran a $3.5 Million Scheme which Defrauded Numerous Investors

Bryan Lee Addington, of Ethel, Louisiana, allegedly ran a $3.5 million scheme which defrauded numerous investors, according to a Federal Indictment from the U.S. Attorney’s Office for the Middle District of Louisiana currently under review by attorneys Alan Rosca and James Booker.

Bryan Lee Addington, from January 2010 through at least April 2016, allegedly falsely represented himself to his investors by claiming that that their hard-earned cash would be invested in real estate and land, insurance products, and stock, and also used to buy up insurance policies, said Indictment notes.

The Peiffer Rosca Wolf securities lawyers are currently investigating Bryan Lee Addington’s alleged investment fraud scheme.

Bryan Lee Addington Allegedly Represented to Investors that His Proposed Investments Would Bring in High Returns and, in Some Cases, Guaranteed Yields; Addington Allegedly Used Past Investor Money to Pay New Investors

Bryan Lee Addington allegedly represented to investors that his products were safe investments and would bring in healthy returns, and, in some cases, even yield guaranteed returns, according to a Federal Indictment from the U.S. Attorney’s Office for the Middle District of Louisiana presently being reviewed by attorneys Alan Rosca and James Booker.

Addington, however, allegedly appears to have hidden two key elements from his investors. Firstly, according to the Indictment, Addington allegedly failed to disclose to his purported victims that he had been barred by FINRA.

Secondly, Addington allegedly siphoned a huge portion of investor funds for personal use and, in what sounds like a Ponzi scheme, allegedly made payments to other purported victim investors.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged securities fraud scams and are currently investigating Bryan Lee Addington’s alleged securities fraud scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Bryan Lee Addington’s alleged securities fraud scheme may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.



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Donald Watkins & Watkins Pencor LLC and Masada Resource Group LLC — Investment Fraud Regarding Waste-to-Energy Ventures

New Orleans investment fraud attorneyDonald Watkins, a Well-known Alabama Attorney, Allegedly Defrauded Professional Athletes and Assorted Investors Claiming to Use Funds to Foster Waste-to-Energy Ventures

Donald Watkins and his Watkins Pencor LLC and Masada Resource Group LLC allegedly orchestrated a multi-million dollar investment luring pro athletes and other investors to put their hard-earned cash to foster purported waste-to-energy ventures, according to recent SEC Documents currently under review by attorneys Alan Rosca and James Booker.

Watkins, rather than investing in new green technology, used a majority of investor money on personal expenses such as alimony and gifts for his girlfriend, the aforementioned SEC Documents report.

The Peiffer Rosca Wolf securities lawyers are currently investigating Donald Watkins and Watkins Pencor LLC and Masada Resource Group LLC’s alleged waste-to-energy venture investment scheme.

Donald Watkins and his Watkins Pencor LLC and Masada Resource Group LLC Allegedly Claimed Waste Management Inc., Was Allegedly in the Works to acquire Watkins Pencor, Masada, and its Affiliated Companies in a Multi-billion-dollar Transaction

Donald Watkins and his Watkins Pencor LLC and Masada Resource Group LLC allegedly told investors that Waste Management Inc. was allegedly in the works to acquire Watkins Pencor, Masada, and its affiliated companies in an enormous multi-billion-dollar transaction, according to the aforementioned SEC Documents currently under review by attorneys Alan Rosca and James Booker.

In reality, the SEC alleges, Waste Management’s alleged “interest” in Masada never went past a short initial meeting in August 2012, which was purportedly over a year after Watkins started telling investors that they were still negotiating terms of the deal and that the acquisition was on the near horizon.

As a result of the aforementioned behavior, the SEC charged Watkins with violations of provisions of antifraud and federal securities laws and a related SEC antifraud rule, and hence the SEC is seeking permanent injunctions, penalties and return of allegedly ill-gotten gains with prejudgment interest, SEC Documents report.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged investment schemes and are currently investigating Donald Watkins and Watkins Pencor LLC and Masada Resource Group LLC’s alleged waste-to-energy venture investment scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Donald Watkins and Watkins Pencor LLC and Masada Resource Group LLC’s alleged waste-to-energy venture investment scheme may contact the securities lawyers of Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.



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Peter Kohli—Mutual Fund Investment Fraud

California stockbroker fraud attorneyPeter Kohli Allegedly Sold Marshad Promissory Notes in a “Desperate Attempt” to Raise Funds to Cover Fund Expenses and Postpone the Inevitable Doom

Peter Kohli’s DMS Advisors was allegedly in trouble. Kohli, as part of an attempt to rescue the fund, allegedly misappropriated money purportedly solicited to invest in DMS’s holding company, Marshad Capital Group, according to SEC Documents currently under review by attorneys Alan Rosca and James Booker.

The SEC Documents further allege that Kohli allegedly sold Marshad promissory notes in a “desperate attempt” to raise cash to cover fund expenses and to prevent the almost certain collapse of the fund, according to the SEC’s complaint.

Kohli also allegedly sold warrants in Marshad, which was under his control, allegedly falsely telling investors that Marshad was going forward toward issuing an IPO, the SEC further alleges. The Peiffer Rosca Wolf securities lawyers are currently investigating Peter Kohli’s alleged mutual fund investment fraud.

Pennsylvania Stockbroker Peter Kohli Suffers Emergency Asset-freeze from the SEC after Allegedly Defrauding Investors in His Fledgling Mutual Fund Business

Pennsylvania stockbroker Peter Kohli has received word that he is under an emergency asset-freeze from SEC after allegedly defrauding investors in his fledgling mutual fund business, according to an SEC Complaint presently being reviewed by attorneys Alan Rosca and James Booker.

The DMS Funds series consisted of four emerging-market mutual funds.

The SEC further alleges that Kohli looked past the risks of DMS, that the firm would not be able to pay its expenses, and that he oversold the sophistication of his DMS, the SEC reports.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged investments fraud scams and are currently investigating Peter Kohli’s alleged mutual fund investment scam. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Peter Kohli’s alleged mutual fund investment scheme may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.



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