Peter Doyle — Conduct that Led to Termination

Peter J. Doyle Allegedly Engaged in Conduct that Led to His Termination from Morgan Stanley

Have you or a loved one invested your hard-earned cash with Peter Doyle, formerly of Morgan Stanley? Peter Doyle allegedly engaged in conduct that led to his termination from Morgan Stanley, according to a recent Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Alan Rosca and James Booker.

Investors who believe they may have lost money in activity related to Peter Doyle’s alleged conduct which led to his termination from Morgan Stanley are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

The Peiffer Rosca Wolf securities lawyers are currently investigating Peter Doyle’s alleged conduct which led to his termination from Morgan Stanley.

Doyle was purportedly discharged due to allegations involving adherence to industry rules and/or firm policy including with regard to use of trading discretion, according to the aforementioned AWC.

Peter Doyle, on June 20, 2017, in connection with an investigation of the alleged conduct that led to Doyle’s termination from Morgan Stanley, received a request from FINRA staff for his on-the-record testimony pursuant to FINRA Rules, the AWC states.

Doyle, via a telephone conversation with FINRA staff on June 28, 2017, and an e-mail on July 5, 2017, allegedly acknowledged that he received FINRA’s request and stated that he would not appear for on-the-record testimony at any time, the AWC states.

Peter Doyle Barred by FINRA; Doyle Allegedly Refused to Appear for FINRA Requested Testimony Connected to an Investigation Regarding His Termination from Morgan Stanley

Peter Doyle, by allegedly refusing to appear for FINRA requested on-the-record testimony in connection with its investigation into the conduct that led to his termination from Morgan Stanley, according to the aforementioned AWC currently under review by attorneys Alan Rosca and James Booker.

Peter Doyle has spent over 2 years in the securities industry and has been registered with Morgan Stanley in Washington, DC since 2009 and also has had previous registrations including Wachovia Securities in Washington, DC from 2003 to 2008 and Prudential Securities in New York, New York from 1995 to 2003, according to his BrokerCheck report, and is also allegedly the subject of one pending customer complaint.

One should also note that, according to the AWC, Peter Doyle 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 investment fraud and are currently investigating Peter Doyle’s alleged conduct which led to his termination from Morgan Stanley. 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 Doyle’s alleged conduct which led to his termination from Morgan Stanley 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Zachary Berkey and Daniel Fischer of Four Points Capital Partners — Alleged Investment Fraud, Charges of Excessive Trading

Zachary S. Berkey and Daniel T. Fischer, Formerly of Four Points Capital Partners, Allegedly Operated a Fraud Scheme which Was Profitable for the Brokers but Costly for Customers; The SEC Announces Continued Efforts to Crackdown on Brokers whom Allegedly Defraud Customers

Zachary S. Berkey of Centerreach, New York, and Daniel T. Fischer of Greenwich, Connecticut, allegedly conducted so-called “in-and-out trading” that had a very high certainty to lose money for customers but also allegedly yielded themselves huge commissions, according to an SEC Complaint currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating Zachary S. Berkey and Daniel T. Fischer of Four Points Capital Partners investment fraud and excessive trading scheme.

Investors who believe they may have lost money in activity related to Zachary S. Berkey and Daniel T. Fischer of Four Points Capital Partners investment fraud and excessive trading scheme are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

The Four Points case comes on the heels of the SEC announcing a continued effort to crackdown on brokers allegedly defrauding customers following similar charges of alleged excessive trading by brokers brought in January, April, and September, the SEC reports.

10 customers of Four Points Capital Partners LLC, the firm where Berkey and Fischer previously worked, purportedly lost a total of $573,867 while Berkey and Fischer purportedly brought in approximately $106,000 and $175,000, respectively, in commissions, the Complaint states.

Berkey and Fischer Allegedly Churned Customer Accounts and Concealed Material Information from Customers; Customers Needed Significant Gains in their Securities Investments in Order to Offset the Significant Cost of Each Transaction

Berkey and Fischer’s customers, in order to realize even a minimal profit, allegedly needed the price of the aforementioned securities to rise significantly in order to offset the significant costs incurred with every transaction, according to the aforementioned Complaint under review by attorney Alan Rosca and James Booker.

What is more, Berkey and Fischer allegedly churned customer accounts and concealed material information from their customers, namely that the costs associated with their recommendations, including commissions and fees, would purportedly almost certainly exceed any potential gains on the trades, said Complaint notes. Fischer also allegedly engaged in unauthorized trading, the Complaint states.

Without admitting or denying the SEC’s allegations, Fischer consented to a final judgment that permanently enjoins him from similar violations in the future and orders him to return his allegedly ill-gotten gains with interest and pay a $160,000 penalty, the Complaint states.

Fischer, meanwhile, allegedly separately agreed to an SEC order barring him from the securities industry and penny stock trading, the Complaint notes.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Zachary S. Berkey and Daniel T. Fischer of Four Points Capital Partners investment fraud and excessive trading 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 Zachary Berkey and Daniel Fischer of Four Points Capital Partners investment fraud and excessive trading 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Digi Outdoor Media Inc.— Alleged Promissory Note Investment Scheme

Digi Outdoor Media Inc., a Seattle-area Digital Display Advertising Firm, Allegedly Ran a Scheme which Purportedly Raised Nearly $4.5 Million in Promissory Notes and then Stole over $2 Million from Retail Investor

Digi Outdoor Media Inc., a Seattle and Washington DC outdoor digital signage advertising company, and former chief executive officer, Donald MacCord Jr., and chief financial officer Shannon Doyle, allegedly stole over $2 million from retail investors, according to an SEC Complaint currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating the securities sales practices of Digi Outdoor Media Inc.

Investors who believe they may have lost money in activity related to the securities sales practices of Digi Outdoor Media Inc. are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Digi Outdoor Media Inc.’s and MacCord Jr. and Doyle allegedly raised nearly $4.5 million in promissory notes by purportedly claiming they would use investor cash to construct and install digital signs for commercial advertising around Washington, D.C., according to the aforementioned SEC Complaint which was filed in U.S. District Court in Seattle.

Digi Outdoor Executives Allegedly Used Investor Money for their Own Personal Use

MacCord and Doyle, allegedly made secret diversions of millions of dollars of investor money for their own personal use, which purportedly included MacCord’s luxury cars, $20,000 per month rent on a Southern California mansion, nanny and housekeeping services, and private school tuition for his children, according to the aforementioned Complaint being reviewed by attorneys Alan Rosca and James Booker.

Doyle also allegedly diverted several hundred thousand dollars to his other unrelated businesses, the Complaint states.

MacCord and Doyle allegedly attempted to conceal their purported theft by creating fake invoices and phony loans to make justifications of the money they took, the Complaint notes.

The duo then allegedly encouraged investors to convert their promissory notes into common stock, purportedly made provisions and forged leases to Digi’s independent auditor, and filed false financial statements with the SEC in an attempt to take the company public rather than pay off their outstanding debt to their investors, the SEC Complaint state.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating the securities sales practices of Digi Outdoor Media Inc. 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 the securities sales practices of Digi Outdoor Media Inc. 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Eric Erb — Alleged Investment Fraud Scheme

Eric Erb Allegedly Operated a $3 Million Fraud Scheme Purportedly Intended to Defraud Investors through his Babylon-based Investment Advisory Firm; Erb Allegedly Solicited Almost $5.4 Million from Investors

Eric Erb, a former investment adviser from Levittown, New York, allegedly stole $3 million from investors as part of a wire fraud scheme, according to Reports from a Federal Courthouse in Central Islip under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating Eric Erb’s alleged investment scheme.

Investors who believe they may have lost money in activity related to Eric Erb’s alleged investment scheme are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Eric Erb, between January 2016 and February 2017, allegedly solicited nearly $5.4 million from investors, according to Court documents from the case.

Eric Erb allegedly promised to follow the proper instructions when making various investments, including investments in individual retirement accounts, annuities, real estate investment trusts, hedge funds and an initial public offering, according to said Reports. Instead, the Reports note, Erb allegedly decided to invest the monies in other investment vehicles.

Furthermore, Erb allegedly e-mailed investors false earnings statements that made indications that their investments were earning profits when instead they were generating losses, the Reports state. Erb also allegedly made wire transfers between banks in Long Island and Florida to fund investments that investors did not authorize him to make, the Reports state.

Eric Erb Pleaded Guilty to Wire Fraud and Purportedly Faces 20 Years in Prison; Erb Has Allegedly Agreed to Pay Approximately $5.3 Million in Restitution to Purported Victims and to Forfeit $215,000 in Proceeds from the Sale of his former Bay Shore Home

Eric Erb recently pleaded guilty to his alleged wire fraud scheme to defraud investors through his Babylon-based investment advisory firm, according to Reports from the U.S. Department of Justice under review by attorneys Alan Rosca and James Booker.

Erb is looking at 20 years in prison, and has agreed to pay out approximately $5.3 million in restitution to purported victims of his crime, the Reports note.

In addition, Erb has also allegedly agreed to forfeit $215,000 in proceeds from the sale of his former home in Bay Shore, Long Island in addition to the net proceeds from the sale of his 2004 Porsche 911 and his 25-foot Regulator boat, the Reports state.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Eric Erb’s alleged 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 Eric Erb’s alleged 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Dominic Lacroix & PlexCorps — Alleged Initial Coin Offering (ICO) Investment Fraud Scheme

Dominic Lacroix and His PlexCorps Allegedly Marketed and Sold Securities Named PlexCoin on the Net to Investors in the U.S. and Elsewhere; Lacroix Allegedly Claimed that PlexCoin Investments Could Yield up to 1,354 Percent Profit in under 29 Days

Dominic Lacroix, an allegedly recidivist Quebec securities law violator, and his PlexCorps allegedly marketed and sold securities named PlexCoin on the internet to investors in the U.S. and elsewhere, according to an SEC Complaint, according to an SEC Complaint currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating Dominic Lacroix and PlexCorp’s alleged ICO fraud scheme.

Investors who believe they may have lost money in activity related to Dominic Lacroix and PlexCorp’s alleged ICO fraud scheme are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Lacroix allegedly claimed that PlexCoin investments could potentially yield up to a 1,354 percent profit in under 29 days, according to the aforementioned Complaint. What is more, the SEC also charged Lacroix’s partner, Sabrina Paradis-Royer, in alleged connection with the purported scheme, the Complaint reports.

PlexCorps Halted after the SEC Announces an Emergency Asset Freeze; The Charges are the First Filed by the SEC’s New Cyber Unit

The SEC recently announced that it had been granted an emergency asset freeze to stop an alleged fast-moving Initial Coin Offering (ICO) fraud that purportedly raised up to $15 million from thousands of investors since August, according to the aforementioned Complaint being reviewed by attorneys Alan Rosca and James Booker.

Lacroix, Paradis-Royer and PlexCorps allegedly violated the anti-fraud provisions, and Lacroix and PlexCorps allegedly violated the registration provision, of the U.S. federal securities laws, the Complaint notes, and the SEC is allegedly seeking permanent injunctions, disgorgement plus interest and penalties.

Said charges are the first filed by the SEC’s new Cyber Unit, the Complaint states.

The unit was created in September to focus the Enforcement Division’s cyber-related expertise on misconduct involving distributed ledger technology and initial coin offerings, the spread of false information through electronic and social media, hacking and threats to trading platforms, the SEC reports.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Dominic Lacroix and PlexCorp’s alleged ICO 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 Dominic Lacroix and PlexCorp’s alleged ICO 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Christopher Laws & Keystone Capital— Alleged Fraud Scheme to Defraud Federal Employees

Christopher Laws, as Part of an Entity Called Keystone Capital Partners, Allegedly Implemented a Fraud Scheme which Defrauded 200 Federal Staff Members; Laws and Keystone Purportedly Moved over $40 Million of Thrift Savings Plan Pension Funds into Expense Annuities, the SEC Reports

A former financial consultant, Christopher S. Laws, allegedly misguided a number of federal employees into rolling over $40 million from their pension into greater expense annuities, according to an SEC Complaint currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating Christopher Laws and Keystone Capital’s alleged fraud scheme concerning federal employees.

Investors who believe they may have lost money in activity related to Christopher Laws and Keystone Capital’s alleged fraud scheme concerning federal employees are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Federal Employee Benefit Counselors, or FEBC, a d/b/a of Keystone Capital Partners, Inc., is a Georgia-registered Corporation which was Cofounded by Christopher Laws and Jonathan Cooke in Early 2012

Federal Employee Benefit Counselors, or FEBC, is a d/b/a of Keystone Capital Partners, Inc., is a Georgia-registered corporation which was cofounded by Christopher Laws and Jonathan Cooke in early 2012, according to the aforementioned Complaint being reviewed by attorneys Alan Rosca and James Booker.

From its founding until December 2014, FEBC’s office was positioned in the same space in Alpharetta, Georgia as the Office of Supervisory Jurisdiction for the broker dealer which the Keystone Representatives were registered, and where Christopher Laws was the manager of said office, the Complaint notes.

Laws co-owns FEBC with Jonathan Cooke, and, from approximately March 2012 and November 2014, was the entity’s CFO and Secretary, the Complaint notes, and in December 2014, Laws was allegedly terminated from the Broker Dealer.

Christopher Laws, from 2005 until his firing in 2014, purportedly worked for LPL Financial, LLC, the SEC states. Christopher Laws subsequently worked for BCG Securities, Inc. According to FINRA’s records, and was fired by LPL Financial, LLC on December 1, 2014.

LPL Financial, LLC reported that Christopher Laws’ firing related to alleged concerns regarding business practices, including communications with customers, according to FINRA Reports.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Christopher Laws and Keystone Capital’s alleged fraud scheme concerning federal employees. 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 Christopher Laws and Keystone Capital’s alleged fraud scheme concerning federal employees 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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The Woodbridge Group— Filing for Chapter 11 Bankruptcy

Luxury Real Estate Developer Woodbridge Group of Companies Files for Bankruptcy during the Middle of an SEC Investigation; Woodbridge Has Allegedly Cited Expansion Costs, Litigation, and a Government Fraud Investigation

Luxury real estate developer Woodbridge Group of Companies filed for Chapter 11 bankruptcy on Monday, citing costs of expansion, litigation and a government fraud investigation, according to Reports from a U.S. Bankruptcy Court in Wilmington, Delaware under review by securities attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating sales practices of investment professionals who recommended and sold Woodbridge to investors and the circumstances surrounding Woodbridge Group’s Chapter 11 bankruptcy.

Woodbridge Mortgage Investment Fund investors who believe they may have lost money are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

The U.S. Securities and Exchange Commission has been investigating Sherman Oaks, California-based Woodbridge, which calls itself a leading developer of high-end real estate, since 2016 for possible fraudulent sales of securities, according to court documents.

Furthermore, Robert Shapiro, who resigned as Woodbridge‘s chief executive officer on Friday, gained attention last year when he bought the Owlwood Estate in Los Angeles, the storied former home of stars such as Tony Curtis and Cher, for $90 million.

In August, the SEC also purportedly sent subpoenas to 235 LLCs which the Commission believes are owned or operated by Woodbridge’s former president, Robert Shapiro, did not receive a proper response, according to an SEC filing from October.

What is more, Woodbridge said that the entity also had received inquiries from about 25 state regulators about its securities sales and the alleged offer and sale of unregistered securities by unregistered agents, according to reports from California.

Documents filed in the U.S. Bankruptcy Court in Delaware allege that Woodbridge

owes about $750 million to an estimated 8,998 note-holders, and that Woodbridge allegedly operates through a complex network of more than 250 affiliated companies owned by RS Protection Trust, of which Shapiro is the trustee and his family members the sole beneficiaries.

Investment News has also reported that six elderly clients, on a spectrum from their seventies to their nineties, collectively had allegedly invested millions of dollars into Woodbridge investment programs.

The report goes on to report that Woodbridge raised $1 billion but the company’s court filings claimed that it had assets of $650 million to $750 million in debt, according to the Investment News report.

Said elderly investors questioned where the difference of $350 million was to be found, according to the aforementioned Investment News report.

Woodbridge Has Allegedly Stopped Paying Its Monthly Dividends

Woodbridge has allegedly stopped paying their monthly dividends, a huge financial red flag, according to the aforementioned reports presently being reviewed by attorneys Alan Rosca and James Booker.

Woodbridge released the following statement:

“Historically a leading developer of high-end real estate, as the size and scope of the business has grown, increased operating and development costs have been exacerbated by the unforeseen costs associated with ongoing litigation and regulatory compliance… This combination of rising costs and regulatory pressure led to a loss of liquidity, resulting in Woodbridge’s inability to make its regularly scheduled one-year notes payment due Dec. 1, 2017.”

Furthermore, Woodbridge also allegedly said it had settled three of the state inquiries and was in serious talks with authorities in Arizona, Colorado, Idaho and Michigan when it filed for Chapter 11 protection, the reports state.

What is more, the company said it planned to use the bankruptcy proceedings to restructure $750 million in debt and had already obtained a commitment for up to $100 million in debtor-in-possession financing from Los Angeles-based Hankey Capital, the reports state. The financing was secured by a first priority lien on 28 properties, and Hankey is also willing to consider providing bankruptcy exit financing, the reports note.

In the meantime, Woodbridge is hoping to turn the ship around. Purported turnaround specialist Lawrence Perkins of SierraConstellation Partners has allegedly taken the helm as chief restructuring officer, but Shapiro will carry on to receive a $175,000 monthly consulting fee during the Chapter 11 proceedings, according to the aforementioned reports.

No allegations of misconduct are being made against Woodbridge in this blog.

Woodbridge Securities Sales Practices Investigated by Securities Lawyers

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating sales practices involving the Woodbridge Mortgage Investment Fund securities. 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.

Woodbridge investors who believe they lost money as a result of their investments in Woodbridge 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Adageo Energy— Alleged Sales of Private Placement Offerings

Several Investors into Adageo Energy Have Allegedly Been Given Recommendations off Potentially Unsuitable Investments into a Number Oil and and Gas Related Ventures

Have you or a loved one invested your hard-earned money into investments related to Adageo Energy?

Peiffer Rosca Wolf securities practice lawyers are investigating potentially unsuitable or improper investment recommendations pertaining to Adageo Energy in a number of oil and gas related ventures.

Investors who believe they may have lost money in activity related to allegedly unsuitable recommendations of Adageo Energy in a number of oil and gas related ventures are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Adageo Energy Partners, LP allegedly brought in investment of $50 million and raised a minimum of $31 million of said amount through a number of  brokerage firms, according to said SEC filings currently under review by attorneys Alan Rosca and James Booker.

Said brokerages allegedly included:

•    Direct Capital Securities, Inc.,

•    Madison Avenue Securities, Inc.,

•    WFP Securities, Inc.,

•    Arete Wealth Management, LLC,

•    New bridge Securities Corporation,

•    Charter Pacific Securities, LLC,

•    ePLANNING Securities, Inc.,

•    Sunset Financial Services, Inc.,

•    Jesup & Lamont Securities Corp.,

•    Capital Guardian, LLC

Private placements are a lightly regulated market composed of hundreds of billions of dollars a year in new issues and have a long history in the oil and gas sector, and small prospectors, known as “wildcatters,” have used them as a quick and simple way to fund the expensive and highly speculative process of drilling, drawing in investors looking to make the most of ample federal tax breaks on energy exploration, according to a Reuters report on the matter.

Adageo Energy is a group which allegedly specializes in high-growth, high-return opportunities in the energy sector, and focuses on the identification, acquisition, drilling, development, and operation of oil and gas properties, and is is a sponsor of several oil and gas private placements, according to its web site.

The Reuters report was also allegedly able to offer a review of the offering memoranda and other marketing material for six oil and gas private placements issued over the past 15 years by four companies, including Atlas Energy LP, Reef Oil & Gas Partners of Richardson, Texas; Discovery Resources & Development LLC of Frisco, Texas, and Black Diamond Energy Inc of Buffalo, Wyoming.

From 34 Deals Reef Has Issued Since 1996, Only 12 Have Allegedly Paid out More Money to Investors than They Originally Contributed; Reef Allegedly Sold and Additional 31 Deals from 1996 to 2010 of which it Collected a Total of $146 million but Purportedly Paid out Only $55 Million

Reef, which has allegedly issued 34 deals since 1996, of which only 12 have paid out more cash to investors than they initially contributed, according to statements from Reuters being reviewed by attorneys Alan Rosca and James Booker.

Reef’s publicly available financial statements allegedly show that Reef sold an additional 31 smaller deals between 1996 and 2010 for which it collected a total of $146 million and paid out just $55 million, Reuters also notes.

In addition to Atlas and Reef, Reuters also looked into an entity known as Black Diamond, a group which allegedly struck thirteen deals between 2001 and 2006 but failed to generate enough revenue to return investors’ initial contribution, according to Reuters.

Black Diamond allegedly filed for bankruptcy in 2011 after a major bank creditor called its loans, butIt never completed the bankruptcy process, Reuters reports.

It is also interesting to note that its principals, one of whom, Charles Koval, was a founder of Atlas Energy, are allegedly attempting ing to sell Black Diamond’s leases and equipment, Reuters states.

Then there is Discovery Resources, which purportedly issued four private placements between 2006 and 2009, but allegedly filed for bankruptcy in 2010, as did its founder Richard Weyand, Reuters notes.

No allegations of misconduct are being made against Adageo, Reef, or the other issuers mentioned in this blog.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating potentially unsuitable or improper investment recommendations pertaining to Adageo Energy. 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 allegedly unsuitable or improper investment recommendations pertaining to Adageo Energy 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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SEC Announces $1.7 Million Whistleblower Award

$1.7 Million Whistleblower Award Given to a Company Insider who Provided the SEC with Crucial Information to Assist in Preventing a Fraud Which Might have Been Very Hard to Detect Otherwise

The Securities and Exchange Commission announced a whistleblower award on July 27th of more than $1.7 million to a company insider who provided said agency with highly important information to help prevent a fraud that would have otherwise been very hard to detect, according to recent SEC Documents currently under review by attorneys Alan Rosca and James Booker.

Jane Norberg, Chief of the SEC’s Office of the Whistleblower, has made the following statement:

”When whistleblowers tip the SEC, it not only can bring wrongdoers to justice but also relief to investors… This whistleblower’s valuable information enabled us to stop further investor harm and ultimately return money to victims.”

It should also be noted that millions of dollars were returned to harmed investors as a result of the SEC’s ensuing investigation and enforcement action, said Documents note.

Approximately $158 Million has Now Been Awarded to 46 Whistleblowers who have Voluntarily Provided the SEC with Original and Useful Information

To date, approximately $158 million has now been awarded to 46 whistleblowers who have voluntarily provided the SEC with original and useful information that led to a successful enforcement action, according to the aforementioned SEC Documents currently under review by attorneys Alan Rosca and James Booker.

No money has been taken or withheld from harmed investors to pay whistleblower awards.

In sum, SEC enforcement actions from whistleblower tips have led to more than $950 million in financial remedies against alleged wrongdoers.

It should also be noted that whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million. All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators.

By law, the SEC protects the confidentiality of whistleblowers and does not disclose information that might directly or indirectly reveal a whistleblower’s identity.  Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action.

Whistleblower Lawyers Help Individuals Seeking Justice

The Peiffer Rosca Wolf whistleblower lawyers currently represent whistleblowers which have obtained information regarding violations of securities laws, including bribery and corruption of foreign officials. The Peiffer Rosca Wolf lawyers have assisted whistleblowers with their complaints before U.S. government agencies and are helping such whistleblowers seek compensation in connection with such complaints.

Whistleblowers that learn of violations of the securities laws or misconduct in connection with government contracts or government payments may have the right to a whistleblower award if they bring such misconduct to the attention of the appropriate government bodies and follow the proper whistleblower procedures.

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Sylvester King Jr.— Alleged Sales of Undisclosed Securities Actions and Selling Away

Sylvester King Jr. Allegedly Sold over $5 Million Unregistered, Illiquid Securities to Certain Professional Athletes and Investment Advisory Clients in an Internet Branding Company Known as Global Village Concerns, Inc. or GVC

Sylvester King Jr., starting in 2009 and continuing into 2012, allegedly participated in sales of over $5 million of unregistered, illiquid securities to certain of his professional athlete brokerage customers and investment advisory clients in an internet branding company known as Global Village Concerns, Inc., or GVC, according to an SEC Order currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating Sylvester King Jr.’s alleged sales of undisclosed securities actions.

Investors who believe they may have lost money in activity related to Sylvester King Jr.’s alleged sales of undisclosed securities actions are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

What is more, from July 2009 up to 2012, Sylvester King Jr. allegedly violated policies with his employer, Ft. Lauderdale Wells Fargo, in order to purportedly help another broker cover up more than $400,000 in loans made to three customers at the firms, according to the aforementioned SEC Order.

What is more, King was named in connection with allegedly loaning another customer $25,000 without commission and taking part in undisclosed private securities transactions known as selling away, which allegedly allowed eight customers to invest more than $3 million, the Order notes.

King Suspended by FINRA for 18 Months and Ordered to Pay a $35,000 Fine

Sylvester King, Jr. allegedly became involved with GVC in 2009 after the company’s CEO came to him about raising money from investors, according to the aforementioned SEC Order being reviewed by attorneys Alan Rosca and James Booker.

King’s clients allegedly were implemented as the main source of money raised for the company, including $3.2 million in two stock offerings and another $2.5 million in convertible note offerings, the Order notes.

King, because he allegedly failed to disclose his own interest in the deal, allegedly violated the NFLPA code of conduct requiring advisers to disclose their financial interests, the Order notes. What is more, the SEC also charged King with allegedly misrepresenting or omitting information about GVC, the Order states.

In 2015, King was suspended from associating with any FINRA member brokerage firm for 18 months and ordered to pay a $35,000 fine, and FINRA then revoked his registration for allegedly failing to pay fines and costs, the Order notes.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Sylvester King Jr.’s alleged sales of undisclosed securities actions. 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 Sylvester King Jr.’s alleged sales of undisclosed securities actions 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Victor Dandridge — Alleged Diversion of Customer Funds

Victor M. Dandridge III Allegedly Diverted Customer Funds to Accounts at His Member Firm to Accounts and Businesses He Controlled

Victor Dandridge allegedly diverted customer funds from accounts held at his member firm to accounts and businesses that he controlled, according to a recent Letter of Acceptance, Waiver, and Consent (AWC) presently being reviewed by attorneys Alan Rosca and James Booker.

Investors who believe they may have lost money in activity related to Victor Dandridge’s alleged diversion of customer funds are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

The Peiffer Rosca Wolf securities lawyers are currently investigating Victor Dandridge’s alleged diversion of customer funds.

Dandridge first became associated with a FINRA regulated broker-dealer in January 2012 as a Director of Investment Management with Thompson Davis & Co., Inc., and from 2011 to 2016, was employed continuously in the securities industry, according to the aforementioned AWC.

On July 19, 2016, however, Thompson Davis & Co., Inc. filed a Form U5 reporting Dandridge’s July 18, 2016 voluntary termination, the AWC reports.

Victor Dandridge Barred by FINRA after Allegedly Refusing to Provide Documents and Information as Requested Pursuant to FINRA Rules

On January 23, 2017, FINRA staff sent a letter to Victor Dandrisge pursuant to FINRA Rules requesting, among other things, that Dandridge provide copies of certain bank and brokerage account statements, according to the aforementioned AWC presently under review by attorneys Alan Rosca and James Booker.

In his Dandridge’s February 10, 2017 response, provided through his counsel, Dandridge allegedly failed to provide the referenced account statements, the AWC notes.

On March 28, 2017, FINRA staff then sent to Dandridge, via his counsel, a second FINRA request letter once again asking for production of certain bank and brokerage account statements, among other things, the AWC notes. In his April 11, 2017 response, provided through counsel, Dandridge once again allegedly failed to provide the referenced account statements, the AWC states.

By allegedly refusing to provide the referenced documents and information as requested pursuant to FINRA Rules, Dandridge purportedly violated FINRA Rules and hence has been barred by FINRA, according to the AWC.

Finally one should also note that, according to the AWC, Victor Dandridge III 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 investment-related fraud or misconduct and are currently investigating Victor Dandridge’s alleged diversion of customer funds. 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 Victor Dandridge’s alleged diversion of customer funds 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Robert Hoffmann — Alleged Unsuitable Trading Recommendations & Unauthorized Transactions

Robert H. Hoffmann Allegedly Engaged in Unsuitable Trading Recommendations, Unauthorized Transactions, Excessive Trading, and Private Securities Transactions

Robert Hoffmann, who was registered with Woodbury Financial Services in Greenwood, Indiana from July 2006 through March 2017, allegedly engaged in potential unsuitable recommendations, unauthorized transactions, excessive trading, and private securities transactions, according to a recent Letter of Acceptance, Waiver, and Consent (AWC) presently being reviewed by attorneys Alan Rosca and James Booker.

Investors who believe they may have lost money in activity related to Robert Hoffmann‘s alleged potentially unsuitable recommendations and unauthorized transactions are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

The Peiffer Rosca Wolf securities lawyers are currently investigating Robert Hoffmann‘s alleged potentially unsuitable recommendations and unauthorized transactions.

Robert Hoffmann began his securities career at Northwestern Mutual Investment Services in 1999 and moved to Woodbury in 2006, and stayed there for just over 10 years, the AWC notes. Hoffman is now no longer working in the securities business, according to the aforementioned AWC.

Robert H. Hoffmann Barred by FINRA for Allegedly Failing to Take Part in an Investigation Researching His Purportedly Unsuitable Trading Recommendations

FINRA has barred Robert H. Hoffmann, a former broker with Woodbury Financial Services, for failing to take part in an investigation looking into his trading recommendations, according to the aforementioned AWC currently being reviewed by attorneys Alan Rosca and James Booker.

In October, FINRA staff sent a request to Hoffmann for on-the-record testimony in connection with an investigation into allegations of the aforementioned alleged misconduct while Hoffmann was with Woodbury Financial Services, the AWC notes.

As stated by his counsel in an e-mail to FlNRA staff on October 17, 2017, Hoffmann allegedly acknowledges that he received FINRA’s request and will not appear for on-the- record testimony at any time, the AWC reports.

Hoffman, by refusing to appear for on-the-record testimony as requested pursuant to FINRA Rules, allegedly violated FINRA Rules and therefore has been barred by FINRA, the AWC notes.

Finally, one should also note that, according to the AWC, Robert Hoffmann 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 investment-related fraud or misconduct and are currently investigating Robert Hoffmann‘s alleged potentially unsuitable recommendations and unauthorized transactions. 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 Robert Hoffmann‘s alleged potentially unsuitable recommendations and unauthorized transactions 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Jerry Lou Guttman — Private Securities Transactions

Jerry Lou Guttman Allegedly Sold over $7,000,000 worth of Membership Interests in at Least Six Different Limited Liability Companies to 31 Firm Customers and Seven Non-customers without First Disclosing the Sales to United Planners

Jerry Lou Guttman, from September 2008 through May 2017, allegedly sold more than $7 million worth of membership interests in at least six different limited liability companies to 31 Firm customers and seven non-customers without first disclosing the sales to United Planners, according to a recent Letter of Acceptance, Waiver, and Consent (AWC) presently being reviewed by attorneys Alan Rosca and James Booker.

Investors who believe they may have lost money in activity related to Jerry Lou Guttman’s alleged private securities transactions are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

The Peiffer Rosca Wolf securities lawyers are currently investigating Jerry Lou Guttman’s alleged private securities transactions.

Jerry Guttman was a financial advisor and a registered representative of United Planners Financial Services of America from 2001 to October 2017, and he worked at a branch office in Phoenix, Arizona, according to the aforementioned AWC.

What is more, Guttman, who has also allegedly been the subject of three customer complaints, has been affiliated with Guttman Financial Group, Nationwide Planning & Benefits, Champion Entertainment Group, Walled Lake Properties, and Serenity Management, the AWC notes.

Jerry Lou Guttman Barred by FINRA

Jerry Lou Guttman, based on the alleged aforementioned behavior, purportedly violated FINRA Rules and thus, has been barred by FINRA, according to the aforementioned AWC presently under review by attorneys Alan Rosca and James Booker.

FINRA Rules prohibit associated persons from participating “in any manner in a private securities transaction,” without first providing written notice to the registered representative’s firm, the AWC states.

Jerry Lou Guttman was first associated with a FINRA member firm in November 1982 and first registered with a member firm in January 1983, and between January 1983 and October 2001, Guttman was purportedly registered with a number of FINRA member firms, the AWC states.

Guttman is not currently associated with any FINRA member firm, but FINRA retains jurisdiction over him pursuant to FINRA By- Laws, according to the AWC.

Finally one should also note that, according to the AWC,  Jerry Lou Guttman 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 investment-related fraud or misconduct and are currently investigating Jerry Lou Guttman’s alleged private securities transactions. 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 Jerry Lou Guttman’s alleged private securities transactions 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Woodbridge Mortgage Investment Fund—Sale of Securities by Unregistered Brokers

Woodbridge Mortgage Investment Fund Allegedly Engaged in the Offer and Sale of Unregistered Securities, the Sale of Securities by Unregistered Brokers, and the Commission of Fraud in Connection with the Offer, Purchase, and Sale of Securities

Woodbridge Mortgage Investment Fund, of Sherman Oaks, California, allegedly engaged in the offer and sale of unregistered securities, the sale of securities by unregistered brokers, and the commission of fraud in connection with the offer, purchase, and sale of securities, according to SEC Documents currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating Woodbridge Mortgage Investment Fund’s alleged implementations of unlicensed individuals selling unregistered securities.

Investors who believe they may have lost money in activity related to Woodbridge Mortgage Investment Fund’s alleged implementations of unlicensed individuals selling unregistered securities are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Woodbridge allegedly implemented a network of both internal and external nationwide sales agents which purportedly marketed different investments and these sales agents were allegedly paid various levels of commissions for their work, the Documents state.

Furthermore, Woodbridge also allegedly made sales though material misrepresentations and omissions of fact, such as a lack of registration of the offering, the qualifications of the managers of the funds, the solvency of the company, the risks of the offering, and prior regulatory actions against Woodbridge in Arizona, Texas and Massachusetts, said Complaint also notes.

For example, the Woodbridge Funds were commercial lenders that made hard-money loans secured by commercial property and the Woodbridge Funds purportedly also raised money from investors to help fund the hard cash loans, according to a Massachusetts Enforcement Action.

The Woodbridge Funds allegedly pool money from various investors for each hard-money loan, and the Woodbridge Funds’ promissory notes effectively guarantee the underlying hard-money loans, and the Woodbridge Funds’ advertising materials state that the Woodbridge Funds are obligated to make payments to FPCM investors even if the hard-money borrower defaults, the Action states.

In addition, a separate action has purportedly been filed by the Colorado Commissioner of Securities that alleges that Woodbridge Mortgage purportedly sold securities in violation of Colorado law, according to reports from the Colorado Commissioner of Securities.

The Commissioner further alleges that Woodbridge purportedly raised nearly $60 million from Colorado investors, and that the company implemented unlicensed sales representatives to make sales of unregistered securities via misrepresentations and omissions of material facts.

What is more, the reports from Colorado allegedly named three individuals, James Campbell, Timothy McGuire and Ronald Caskey, who were affiliated with Woodbridge Mortgage Investment Fund and whom were not licensed to make sales of securities, according to a Complaint from the Colorado Commissioner of Securities.

Furthermore, Pennsylvania state officials also allege that, in April of 2017, Woodbridge Wealth allegedly sold complex structured settlement products in the state, in purported direct violation of the state’s securities regulations, according to the Pennsylvania Bureau of Securities Compliance and Examinations.

Pennsylvania financial regulators determined that Woodbridge Wealth was allegedly selling unregistered securities, which is a purported legal violation, according to Reports from Pennsylvania. Woodbridge Wealth was allegedly fined $30,000 but Woodbridge did not admit to or deny any wrongdoing in the course of offering structured settlements to investors in Pennsylvania, said Reports note.

Woodbridge Allegedly Raised Worked with Several Thousand Investors Nationwide through Various Investment Offerings via Various Forms and Structures to Raise over $1 Billion

Woodbridge worked with several thousand investors nationwide to raise more than $1 billion through multiple investment offerings using various forms and structures, according to the aforementioned Court Reports being reviewed by attorneys Alan Rosca and James Booker.

For example, regarding the Woodbridge Mortgage Investment Fund III, LLC, Woodbridge allegedly made a filing with the Commission on September 18, 2015, a Form D stating that it had raised $36,330,251 from a potential offering of $50,000,000, the Reports note.

The Court Reports further allege that a network of both internal and external nationwide sales agents allegedly market different investments and these sales agents are allegedly paid various levels of commissions for their work, the Reports state.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Woodbridge Mortgage Investment Fund’s alleged implementations of unlicensed individuals. 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 Woodbridge Mortgage Investment Fund’s alleged implementations of unlicensed individuals 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Jay Costa Kelter— Investment Fraud

Jay Costa Kelter, a Former Investment Advisor and Formerly Known as Ignatius J. Costa, III, Allegedly Defrauded an Elderly Brentwood Woman out of $1.4 Million

Jay Costa Kelter, 48, and formerly known as Ignatius J. Costa, III, allegedly defrauded an Elderly Brentwood out of about $1.4 million, according to Court Documents from the U.S. Attorney’s Office in the Middle District of Tennessee currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating Jay Costa Kelter’s alleged investment fraud.

Investors who believe they may have lost money in activity related to Jay Costa Kelter’s alleged investment fraud are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

The indictment allegedly makes assertions that Kelter was purportedly affiliated with a Florida-based insurance and investment company and that Kelter allegedly convinced the purported victim to initiate investment accounts with a discount brokerage firm company by allegedly making false assertions that he was working for the discount brokerage company, according to the aforementioned Court Reports.

Kelter allegedly often posed as the victim investor in order to execute trades and make transfers of funds to accounts which he personally owned or controlled, the Reports note.

Jay Costa Kelter Indicted on Five Counts of Wire Fraud, 16 Counts of Mail Fraud and Securities Fraud

A federal grand jury indicted Jay Costa Kelter, formerly known as Ignatius J. Costa, III, 48, on Wednesday on five counts of wire fraud, 16 counts of mail fraud and securities fraud, according to the aforementioned Report being reviewed by attorneys Alan Rosca and James Booker.

If convicted, Kelter faces up to 20 years in prison on each count and up to a $5 million fine, the Reports note.

Kelter allegedly also spent thousands of the victim’s investment funds for personal use including purchases and payments for luxury including a Mercedes, a Lamborghini, and a $101,400 Bentley, and over $21,000 for custom jewelry, the Reports note. What is more, the indictment also alleges that Kelter used some of the client funds to repay other investment clients, a telltale sign of a Ponzi scheme, the Reports state.

Jay Costa Kelter worked at Berthel, Fisher & Company Financial Services from 2007 to 2013, according to Kelter’s FINRA BrokerCheck Report.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Jay Costa Kelter’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 Jay Costa Kelter’s alleged investment fraud 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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David Albert Ross — Accepting Customer Loans without Disclosure & Undisclosed Outside Business Activities

David Albert Ross Allegedly Accepted Customer Loans, Totaling $89,000, without Disclosure and also Allegedly Engaged in Two Undisclosed Outside Business Activities

David Albert Ross, beginning in 2008 and up to his termination in 2016, and during his employment with two member firms (Signator Investors, Inc. and Woodbury Financial Services, Inc.), allegedly engaged in a pattern of misconduct, according to a recent Letter of Acceptance, Waiver, and Consent (AWC) presently being reviewed by attorneys Alan Rosca and James Booker.

Investors who believe they may have lost money in activity related to David Albert Ross’s alleged acceptance of customer loans and outside business activities are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

The Peiffer Rosca Wolf securities lawyers are currently investigating David Albert Ross’s alleged acceptance of customer loans and outside business activities.

David Albert Ross’s alleged pattern of misconduct allegedly included taking loans from firm customers, engaging in undisclosed outside business activities, and making false attestations in firm compliance questionnaires, according to the aforementioned AWC.

Ross, specifically, from 2008 until 2016, allegedly accepted five loans from four firm customers totaling $89,000 in violation of NASD and FINRA Rules and also allegedly engaged in two undisclosed outside business activities, the AWC notes.

Said allegations allegedly also included serving as board director of a firm customer in violation of NASD and F1NRA Rules, the AWC states.

David Albert Ross Suspended by FINRA

David Albert Ross, through the aforementioned alleged violations, allegedly violated NASD and FINRA Rules, according to the aforementioned AWC presently under review by attorneys Alan Rosca and James Booker.

Ross, in addition, on eight compliance questionnaires, allegedly falsely attested that he was aware of, and complied with, Signator’s and Woodbury’s policies and procedures concerning OBAs and loans. Therefore, Ross also allegedly violated NASD and FINRA Rules for this additional reason, the AWC notes.

On April 15, 2016, Woodbury reportedly filed a Uniform Termination Notice for Securities Registration with FINRA disclosing that it terminated Ross on April 15, 2016 for “failing to disclose an outside business activity, accepting loans from firm clients and other violations of firm policies and procedures”, the AWC reports.

Finally one should also note that, according to the AWC, David Albert Ross 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 investment-related fraud or misconduct and are currently investigating David Albert Ross’s alleged acceptance of customer loans and outside business activities. 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 David Albert Ross’s alleged acceptance of customer loans and outside business activities 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Steven Simmons— Ponzi Scheme

Steven Simmons Recently Pleaded Guilty to One Alleged Count of Conspiracy after Being Charged in an Alleged $81 Million “Hamilton” Ponzi Scheme

Steven Simmons, 48, of Wilton, Connecticut, was charged in January in an alleged $81 million “Hamilton” Ponzi scheme and subsequently pleaded guilty Monday to one count of conspiracy, according to Court Reports from a Manhattan federal court currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating Steven Simmons’ alleged “Hamilton” Ponzi scheme.

Investors who believe they may have lost money in activity related to Steven Simmons’ alleged “Hamilton” Ponzi scheme are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Steven Simmons, between 2013 and January  2017, allegedly solicited more than $6 million in investments for a hedge fund which allegedly sold tickets for big events like the Broadway hit “Hamilton”, according to the aforementioned Court Reports.

Simmons, however, allegedly misappropriated some of the clients’ funds for his own personal use and also allegedly used the rest of the funds to pay back prior investors, a telltale sign of a purported a Ponzi-like scheme, the Reports note.

Simmons, between the aforementioned time, allegedly solicited investments by making false representations to investors that their money would be used by the hedge fund for legitimate and specific investment purposes, that they would get back a specific rates of return, and that their investments would not be placed at risk or commingled with other funds, the Court Reports state.

U.S. Attorney Joon H. Kim has made the following statement:

“Steven Simmons engaged in one of the oldest frauds in the book: using investor funds to pay back earlier investors, all while skimming funds off the top for his own personal use. When investors demanded the returns promised to them, they learned that the entire investment was just a scam. Now Simmons, who admitted his guilt in court today, will answer for his crimes.”

In reality, Simmons not only allegedly failed to invest the investor monies as promised, but, instead, diverted investor funds for his own personal own use and also, together with others, purportedly used the money in a Ponzi-like fashion to fund the repayment of earlier investors in the hedge fund whose redemption requests could not be forestalled, the Reports state.

Steven Simmons Allegedly Provided Investors with False Monthly Statements and has Purportedly Agreed to Forfeit $6,900,000

Steven Simmons allegedly solicited investment funds from an entity known as “Victim Entity-1” for the purported purpose of delivering payments of an earlier investor in the aforementioned Hedge Fund, according to Court Reports from a Manhattan federal court presently being examined by attorneys Alan Rosca and James Booker.

Within minutes of their reception by the Hedge Fund a majority of the purported victims of Entity-1’s funds were allegedly wired to the earlier investor, the Reports note.

Simmons, in a later consensually recorded conversation with a so-called cooperating witness, allegedly expressed concerns that Victim Entity-1 would then contact the portfolio managers with whom it believed its funds were invested and purportedly make the revelation that “there’s no . . . money.”, according to Court Reports.

Simmons, in part of the alleged aforementioned fraudulent scheme, also allegedly created and provided investors with false monthly statements, the Reports note.

Simmons, as a result, has purportedly pled guilty to one count of conspiracy to commit securities fraud and wire fraud, and the conspiracy count holds a maximum sentence of five years in prison and a maximum fine of $250,000, or twice the gross gain or loss from the offense, the Reports state.

What is more, pursuant to a purported plea agreement with the Government, Simmons allegedly agreed to forfeit $6,900,000, the Reports state.

The maximum potential sentence in this case is prescribed by Congress, according to the aforementioned Reports, and any sentencing of the defendant will be determined by the judge, and Simmons will be reportedly be sentenced at a date set by the Court, the Reports note.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Steven Simmons’ alleged “Hamilton” Ponzi 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 Steven Simmons’ alleged “Hamilton” Ponzi 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Gopi Vungarala — Alleged Investment Fraud

Gopi Krishna Vungarala Allegedly Induced a Native American Tribe to Invest Hundreds of Millions of Dollars in Non-traded Real Estate Investment Trusts and Business Development Companies, without Disclosing that He and His Firm Took Commissions on the Sales

Gopi Vungarala, from at least June 2011 through January 2015, and through his firm, PKS, allegedly regularly lied to his customer, known only as ST, a Native American tribe, regarding the investments he recommended, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating Gopi Vungarala’s alleged investment fraud.

Investors who believe they may have lost money in activity related to Gopi Vungarala’s alleged investment fraud are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Vungarala allegedly fraudulently induced the aforementioned tribe to invest hundreds of millions of dollars in non-traded real estate investment trusts and business development companies, but also allegedly failed to reveal that he and his firm received commissions on the sales (usually seven percent) or the availability of certain volume discounts, according to the aforementioned Complaint.

Gopi Vungarala, in November 2008, was hired by the Native American tribe as its first in-house Investment Manager to manage its investment portfolio, the Complaint notes.

Vungarala allegedly joined the staff of the Tribe’s Treasury Department, which purportedly managed the tribe’s investments, and members of the tribe allegedly relied on Vungarala as their in-house investment professional, the Complaint states. The tribe also allegedly did not have much investment experience and were not familiar with securities brokerage-industry terminology and practices.

Gopi Vungarala Barred by FINRA and Ordered to Disgorge $9,682,629 in Commissions

Gopi Krishna Vungarala, based on the alleged aforementioned behavior, allegedly violated FINRA Rules and therefore has been barred by FINRA and ordered to disgorge his unlawful gain in the amount of $9,682,629 together with pre-judgment interest from January 18, 2015, until paid, according to the aforementioned Complaint being reviewed by attorneys Alan Rosca and James Booker.

Vungarala was allegedly the only Treasury Department employee who had any significant investment experience beyond having a 401(k) account and hence Vungarala allegedly took advantage of the Tribe’s trust and lack of sophistication by making false and misleading statements that concealed his personal financial interest in steering the Tribe to investing in Real Estate Investment Trusts (REIT’s) and Business Development Companies (BDC’s), the Complaint notes.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Gopi Vungarala’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 Gopi Vungarala’s alleged investment fraud 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Landon Williams – Alleged False and Misleading Statements to Customers

Landon L. Williams – Alleged False and Misleading Statements to Customers and/or Allegedly Failed to Disclose Material Information about Securities Transactions that he was Purportedly Recommending to Customers

Landon Williams, between March 5, 2014 and July 23, 2014, allegedly participated in telephone conversations with customers wherein he made false and misleading statements to customers and also purportedly and/or failed to disclose material information about securities transactions that he was recommending to the customers, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating Landon Williams’ alleged false and misleading statements to customers.

Investors who believe they may have lost money in activity related to Landon Williams’ alleged false and misleading statements to customers are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

What is more, in addition to the alleged connection with each telephone conversation, Landon Williams, as required by his member firm’s policies and procedures, allegedly electronically entered notes in the firm’s Team Track software application describing his discussion with, and disclosures made to the aforementioned customer, the Complaint reports.

Williams, in his Team Track entries, allegedly made false statements about what he discussed with and disclosed to the customer, the Complaint states.

Landon L. Williams Allegedly Suspended and Fined $10,000 by FINRA

Williams, by allegedly entering false information in Team Track, purportedly caused his member firm’s books and records to be inaccurate, and in doing so, allegedly violated FINRA Rules, the Complaint reports.

Hence, Williams has been fined $10,000 by FINRA and suspended for two years from s ordered that Respondent be fined $10,000 and suspended for two years from association with any FINRA member firm in all capacitates, the Complaint states.

Landon Williams, from July 8, 2013 until August 6, 2014, was employed by Merrill Lynch as a Financial Solutions Advisor (FSA) in the firm’s Merrill Edge Advisory Center business unit, the Complaint reports.

Landon Williams, between March 5, 2014 and July 23, 2014, allegedly participated in telephone conversations with five separate Merrill Lynch customers — specifically, people known as ASA, RLC, GDC, JLM, and RBS, the Complaint states.

During the telephone conversations with ASA, RLC, GDC, JLM, and RBS, respectively, Williams allegedly made false and/or misleading statements, and/or failed to disclose material information about securities transactions that he was recommending, the Complaint notes.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Landon Williams’ alleged false and misleading statements to customers. 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 Landon Williams’ alleged false and misleading statements to customers 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

from Investment Fraud Lawyers | Investor Loss Recovery http://ift.tt/2hX0KWE
via Securitieslitigatos.com

David Apted – Private Securities Transactions

David Apted Allegedly Engaged in Private Securities Transactions with Two Customers who Invested over $300,000 in a Venture-capital Fund

David Apted allegedly engaged in private securities transactions with two customers who invested over $300,000 in a certain venture-capital fund, according to a recent Letter of Acceptance, Waiver, and Consent (AWC) presently being reviewed by attorneys Alan Rosca and James Booker.

Investors who believe they may have lost money in activity related to David Apted‘s alleged engagement in private securities transactions are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

The Peiffer Rosca Wolf securities lawyers are currently investigating David Apted‘s alleged engaged in private securities transactions.

Apted also allegedly shared non-public information about 39 customer to a broker-dealer that he planned to join, and also allegedly sent more than 150 tweets regarding securities without his firm approval, the AWC notes.

David Apted Suspended and Fined $10,000 by FINRA

David Apted, based on the aforementioned behavior, allegedly violated FINRA Rules and therefore allegedly violated FINRA Rules, according to the aforementioned AWC currently being reviewed by attorneys Alan Rosca and James Booker.

The story begins in December of 2015, when Apted reportedly decided to move from Smith, Moore to Forest Securities in mid-January 2016, but, due to various delays, allegedly made repeated postponements of the date of his move, and eventually joined Forest Securities two months later than he originally anticipated, the AWC notes.

In the meantime two people expressed interest to Apted in investing in a certain venture-capital fund, and, even though Smith, Moore allegedly offered that fund, Apted allegedly referred the investors to Forest Securities for the purpose of investing in the fund, the AWC notes.

Apted then allegedly participated in the investors’ dealings with the fund, explaining its structure and costs, advising the investors about its portfolio, helping to prepare their subscription agreements, arranging and attending a meeting between one investor and the fund’s representatives, and handling a wire transfer for the other investor’s investment, the AWC states.

Between early January and mid-February 2016, said investors allegedly collectively invested more than $300,000 in the fund and Apted allegedly did not notify Smith, Moore about those transactions or his role in them, the AWC reports.

FINRA Rules prohibits associated persons from participating in any manner in a private securities transaction without first notifying their firms in writing about the transaction, their role in it, and whether they will or may receive selling compensation, the AWC notes.

Finally, one should also note that, according to the AWC, David Apted 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 investment-related fraud or misconduct and are currently investigating David Apted‘s alleged engagement in private securities transactions. 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 David Apted‘s alleged engagement in private securities transactions 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 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

from Investment Fraud Lawyers | Investor Loss Recovery http://ift.tt/2AgYjFX
via Securitieslitigatos.com