Yasuna Murakami—Ponzi Scheme Investigation

Yasuna Murakami Allegedly Operated a Ponzi Scheme Which Allegedly Took in $15.3 Million from 47 Investors; Investor Right Attorneys Investigating

Yasuna Murakami, a Boston-area fund manager, allegedly operated a Ponzi scheme which allegedly took in $15.3 million from 47 investors, according to a Complaint from the Massachusetts Division of Securities currently under review by Peiffer Rosca Wolf attorneys Alan Rosca, Joe Peiffer, and James Booker.

Several Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in Murakami – operated hedge funds such as MC2 Capital Canadian Opportunities Fund, MC2 Capital Partners, and MC2 Capital Value Partners. Investors who believe they may have lost money in Murakami’s MC2 Capital Canadian Opportunities Fund and his other hedge 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 Complaint against Murakami and several entities he controlled alleges that the real trouble began with “devastating early trading losses in the Partners Fund”, the Complaint notes.

Said Complaint further alleges that Yasuna Murakami ran MC2 Capital of Cambridge, Massachusetts, which allegedly targeted an unnamed institutional investor from the Boston area who put $2 million into the purported scheme, according to the Office of Secretary of the Commonwealth of Massachusetts, William Galvin.

Yasuna Murakami and his MC2 Capital’s hedge funds are now facing the fact that they may be barred by William Galvin and the Massachusetts Division of Securities.

Galvin describes the case as representing “a classic example of a shell game of moving the money from one investor to another with some left over to fatten the coffers of the money manager”, according to reports from Massachusetts.

The story begins in 2007 when Murakami purportedly started his hedge fund with the MC2 Capital Partners fund, the Complaint notes.

MC2 Capital Partners Fund was purportedly marketed to family members and friends and went on to take on over $3.5 million, the Complaint states.

MC2 Capital Partners, however, by late 2008, then allegedly had a negative balance of about $2.4 million which then sparked a margin call that erased investors’ equity, according to statements from Galvin.

A second fund, MC2 Capital Value Partners Fund, is also allegedly facing similar results, according to said Complaint from the Massachusetts Division of Securities.

Most funds were allegedly lost in the third fund, MC2 Capital Canadian Opportunities, a fund that was initially managed by a joint venture between Murakami and a Canadian hedge fund management company.

The Peiffer Rosca Wolf lawyers are particularly interested in talking to investors in MC2 Capital Canadian Opportunities.

The aforementioned Complaint also alleges that investor money was used to pay personal expenses such as luxury hotels, liquor stores, specialty cars, American Express bills, and high-end shops such as Nordstrom, Saks Fifth Avenue, according to statements from Galvin’s office.

The Peiffer Rosca Wolf securities lawyers are investigating Yasuna Murakami and his MC2 Capital’s alleged Ponzi scheme.

Murakami Purportedly Misled New Clients to Bring in More Cash and Has Misappropriated Millions of Dollars for Personal Gain

Yasuna Murakami has allegedly lost most investor money, including the vast majority of the money invested in MC2 Capital Canadian Opportunities fund, according to a Complaint from the Massachusetts Division of Securities presently being examined by attorneys Alan Rosca and James Booker.

What is more, Murakami has also purportedly misled new clients to bring in more cash, by failing to disclose to them his past failures with earlier hedge funds he managed, and has misappropriated millions of dollars for personal gain, the Complaint notes.

Murakami failed to disclose to new investors – including investors in MC2 Capital Canadian Opportunities fund – that substantially all the investment bets he made for his earlier hedge funds were unsuccessful. After losing the money he managed in his earlier hedge fund, MC2 Capital Partners, Murakami allegedly started MC2Capital Value Partners Fund in 2009, the Complaint states.

MC2Capital Value Partners Fund, similar to its predecessors, allegedly lost serious amounts of cash, and he allegedly started a third similarly named fund and also purportedly  partnered with a successful Toronto firm in an attempt to bring in and recruit more investors, the Complaint notes.

Next, Murakami later made a deal with a Toronto – based hedge fund management company to originate MC2 Capital Canadian Opportunities Fund in 2011, according to a statement from Galvin.

The Massachusetts Division of Securities goes on to detail how the Canadian hedge fund management firm allegedly was important in getting investors to throw in money, including a Boston– area institutional investor.

By May of 2015, however, the Canadian hedge fund management firm allegedly cut ties to the MC2 entities, the Complaint states.

Galvin further alleges that Murakami allegedly misappropriated investor money from the Canadian fund and used it to pay promised returns or redemptions to investors in the other two MC2 funds, the Complaint states.

Said action is usually one of the telltale signs of a Ponzi scheme.

Murakami was allegedly summoned to testify before the enforcement section of the securities division, but Murakami invoked his privilege against self-incrimination, Galvin has also stated.

Based on the aforementioned actions the Massachusetts Division of Securities has recommended that Murakami “cease and desist” all actions and provide and account for all losses attributed to the alleged wrongdoing.

What is more, the Division is also asking that Murakami disgorge all profits, the Complaint notes.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of Ponzi schemes and are currently investigating Yasuna Murakami’s alleged 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 Yasuna Murakami’s alleged Ponzi scheme – and in particular investors in the MC2 Capital Canadian Opportunities fund – 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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Source Capital Group, Inc.— Allowance of Control over Firm Operations

Source Capital Group, Inc. Allegedly Permitted Principals of Issuers of Securities Sold by SCG – Blue Ridge and Four Bayou City – to Supervise the Firm’s Registered Personnel and to Assert Control Over Source’s systems, operations and activities

Source Capital Group, Inc. allegedly permitted the principals of issuers of securities sold by SCG (Blue Ridge and four Bayou City) to supervise Source’s registered personnel and to assert control over Source’s systems, operations and activities, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

Source Capital Group, Inc., from September 2009 through September 2014, allegedly maintained an Office of Supervisory Jurisdiction (OSJ) in Bowling Green, Kentucky, the aforementioned Complaint also notes.

Next, the aforementioned Bowling Green OSJ allegedly supervised the Source branch offices in Allen, Texas and Coconut Creek, Florida, the Complaint states.

Later the Bowling Green OSJ, along with the Texas and Florida branch offices, known collectively as the ”Bowling Green Complex”, principally sold, allegedly, the securities of a pair of issuers: Blue Ridge Group, Inc. and Bayou City Exploration, Inc., the Complaint further details.

Source, from September 2009 through September 2014, also allegedly gave up its responsibility to supervise the Bowling Green Complex and, instead, allegedly allowed the principals of Blue Ridge and Bayou City to provide supervision over Source’s registered personnel and to assert control over the Firm’s systems, operations and activities, the Complaint states.

What is more, Source, by allegedly failing to establish and maintain a reasonable supervisory system to supervise the Bowling Green OSJ and to address the risks and potential conflicts of interest posed by Blue Ridge’s and Bayou City’s exercise of supervisory control over the Bowling Green Complex, allegedly violated NASD and FINRA Rules, the Complaint notes.

The Peiffer Rosca Wolf securities lawyers are investigating Source Capital’s alleged allowance of the principals of issuers of securities sold by SCG to supervise Source’s registered personnel and to assert control over Source’s systems, operations and activities.

Source Capital Allegedly Permitted Two Unregistered Principals of Blue Ridge and Bayou City to Supervise Personnel and Activities in the Bowling Green Complex

Source Capital also allegedly permitted two principals of Blue Ridge and Bayou City, neither of whom had been registered with FINRA in any capacity, to supervise personnel and activities in the Bowling Green Complex, according to a Complaint from FINRA’s Department of Enforcement presently being examined by attorneys Alan Rosca and James Booker.

Source Capital, from March 2013 through January 8, 2014, also allegedly failed to disclose material facts to prospective investors with regards to the sale of two Blue Ridge offerings and four Bayou City offerings, the Complaint notes.

The aforementioned offerings include that Blue Ridge and Bayou City allegedly paid the expenses of the Source offices in the Bowling Green Complex, paid non-cash compensation to Source registered representatives, and also exercised significant control over the personnel and operations of the Bowling Green Complex, the Complaint alleges.

Hence, Source, based on the aforementioned behavior, allegedly violated Sections of the Securities Act and therefore FINRA Rules, the Complaint notes.

Therefore, FINRA’s Department of Enforcement “respectfully requests” that Source fully disgorge any and all alleged ill-gotten gains, together with interest, and that Source bear the “costs of proceedings as are deemed fair and appropriate under the circumstances” in accordance with FINRA Rules, the Complaint notes.

It is also important to note that Blue Ridge Group, Inc., a Nevada corporation organized in August 1993, and was purportedly engaged primarily in the business of sponsoring and managing oil and gas drilling limited partnerships, the Complaint notes.

Finally, Bayou City Exploration, Inc. is purportedly a Nevada corporation which was organized in November 1994 as Gem Source Incorporated and later changed its name to Blue Ridge Energy, Inc. in May 1996 and then to Bayou City Exploration, Inc. in September 2005, the Complaint notes.

The Complaint also states that Bayou City was engaged primarily in the business of sponsoring and managing oil and gas drilling limited partnerships.

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 Source Capital’s alleged allowance of the principals of issuers of securities sold by SCG to supervise Source’s registered personnel and to assert control over Source’s systems, operations and 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 Source Capital’s alleged allowance of the principals of issuers of securities sold by SCG to supervise Source’s registered personnel and to assert control over Source’s systems, operations and 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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Regal Securities Inc.—Failure to Enforce Procedures Relating to Review and Approval of an Outside Business Activity

Regal Securities Inc. Allegedy Failed to Establish and Enforce Procedures Relating to Approval and Review of an Outside Business Activity

Regal Securities Inc. allegedly failed to establish and enforce procedures relating to its review and approval of an outside business activity, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Alan Rosca and James Booker.

Regal Securities maintained Securities’ written supervisory procedures at the time which required the firm to investigate and review the contents of an outside business activity request before approving or denying the proposed activity, the aforementioned AWC reports.

The AWC further details how the Regal allegedly missed red flags while reviewing and rejecting a registered representative’s request, the AWC notes.

Said red flags allegedly involved the aforementioned rep allegedly ignoring Regal’s decision that he had also allegedly taken steps along with the help of another firm representative to engage in private securities transactions involving a limited liability company, the AWC states.

This behavior was allegedly in connection with brokers Dickie Adcock and Charles Bailey Ferrill, Jr., the AWC notes.

Adcock and Ferrill, Jr. allegedly raised funds for a business plan to operate a hedge fund through two entities, Talon LLC and Talon Capital LP, the AWC states.

Our story begins in March of 2011 when Raymond Adcock, then a registered rep at Regal, allegedly made a written request that he and Ferrill, Jr. obtain permission to take part in a privat placement offering by Talon Capital, the AWC reports.

Said private placement offering allegedly sought to raise about $500,000 in capital from qualified investors through the sale of unsecured notes, the AWC notes.

It is important to note that FINRA Rules prohibit registered reps from taking part in outside business activities unless “he or she has provided prior written notice to the member, in such form as specified by the member”, the AWC states.

FINRA Rules also state that members are instructed to “evaluate whether to impose specific conditions or limitation on the outside business activity, and to evaluate whether the proposed activity is more properly characterized as an outside securities transaction” which is subject to NASD Rules, the AWC notes.

The Peiffer Rosca Wolf securities lawyers are currently investigating Regal Securities Inc.’s alleged failure to establish and enforce procedures related to its review and approval of an outside business activity.

Regal Securities Inc. Censured and Fined $25,000 by FINRA for Allegedly Selling Unregistered Securities in Two Separate Offerings Totaling $540,000

Talon Entities allegedly sold unregistered securities in two separate offerings to eight Arkansas investors and six Mississippi investors to individuals, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) presently being examined by attorneys Alan Rosca and James Booker.

Said individuals who were either clients of Regal or persons with whom the brokers maintained personal relationships, the AWC reports.

What is more, the aforementioned two offerings allegedly raised a combined total of $540,000 in investor funds, the AWC states.

Adcock, in addition, in 2015, was barred by FINRA for conversion of $10,000 in proceeds produced by the aforementioned private placement offering, the AWC notes.

Adcock also allegedly misappropriated the funds by making a draft of a check which was made payable to “cash” from Ferril’s bank account and converted the funds for his personal use, the AWC states.

As a result of the aforementioned behavior, Regal Securities allegedly failed to comply with its obligations to reasonably supervise Adcock and his outside business activities, and hence allegedly violated NASD and FINRA Rules, according to the AWC.

Therefore, Regal was censured and fined $25,000, the AWC reports.

Regal Securities has no prior relevant disciplinary history and member of FINRA in November 1976 and became registered with the SEC in June 1977, the AWC reports.

Regal also purportedly operates 23 branches and employs approximately 100 registered representatives and its registration with the SEC remain currently in effect, the AWC states.

One should also note that, according to the AWC, Regal Securities 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 alleged outside business activities and are currently investigating Regal Securities Inc.’s alleged failure to establish and enforce procedures related to its review and approval of an outside business activity. 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 Regal Securities Inc.’s alleged failure to establish and enforce procedures related to its review and approval of an outside business activity 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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Hallmark Investments, Inc. & Steven Dash, Stephen Zipkin & William Coons—Sale of Unregistered Shares

Hallmark Investments, Inc. and Steven G. Dash, Stephen P. Zipkin & William H. Coons Allegedly Sold 39,600 Unregistered Shares of Avalanche International Corp. (AVLP)

Hallmark Investments, Inc. & Steven Dash and Stephen Zipkin sold 39,600 unregistered shares of Avalanche International Corp. (AVLP), according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

The Complaint further alleges that Hallmark Investments had acquired said shares pursuant to a consulting agreement.

What is more, Hallmark Investments, Inc. & Steven Dash, Stephen Zipkin allegedly sold said shares to approximately fourteen Hallmark customers at allegedly fraudulently inflated prices, the Complaint reports.

Hallmark, through Dash, and also in connection with the sale of the 39,600 AVLP shares to the fourteen customers, allegedly charged excessive mark-ups, the Complaint also notes.

As a result, the Complaint also alleges that Hallmark and Dash allegedly violated FINRA Rules.

What is more, on at least eight occasions, Hallmark allegedly conducted a securities business while failing to maintain its required minimum net capital, the Complaint notes.

The Peiffer Rosca Wolf securities lawyers are investigating Hallmark Investments, Inc.’s alleged sales of unregistered shares of Avalanche International Corp.

Hallmark Investments, Inc. Allegedly Sold Approximately 195,000 unregistered shares of Microphase Corporation to Firm Customers

Hallmark Investments, Inc. allegedly sold approximately 195,000 unregistered shares of Microphase Corporation to firm customers, according to a Complaint from FINRA’s Department of Enforcement presently being examined by attorneys Alan Rosca and James Booker.

The Complaint further details how, from March 2014 through July 2014, Hallmark allegedly sold approximately 195,000 unregistered shares of Microphase Corporation to seven customers of the Firm and that when they were sold the Microphase shares were not registered with the SEC nor were the sales exempt from registration.

Stephen Zipkin allegedly sold approximately 67,500 of unregistered Microphase shares to three customers of the firm and William Coons sold approximately 127,500 unregistered Microphase shares to four firm customers, the Complaint reports.

What is more, Hallmark and Dash each allegedly failed to timely and completely respond to FINRA Staff’s request for information, and thus violated FINRA Rules, the Complaint notes.

The Story of Avalanche began back in April of 2011 when it became incorporated and was in the business of distributing glass tiles, the Complaint reports.

The business kept changing its business model, and around September 9, 2014, Hallmark allegedly received 40,000 shares of AVLP for purportedly unspecified consulting services, the Complaint states.

Dash, on behalf of Hallmark, acquired said shares for the alleged price of $500.19 and Hallmark allegedly tried to deposit the 40,000 shares with its clearing firm, COR Clearing LLC, the Complaint states.

COR, however, allegedly made a steadfast rejection of the deposit based on several so-called “red flags” with regards to the receipt, the Complaint states.

Dash then allegedly opened up an account in Hallmark’s name at Scottrade around October 16, 2014, of which he was purportedly the sole signatory, and on October 17, 2014, Dash then allegedly made a deposit of 40,000 AVLP shares into the aforementioned Scottrade account, the Complaint notes.

Next, on November 21, 2014, and under Dash’s alleged direction, Hallmark allegedly implemented pre-arranged trading to sell 39,600 shares of the aforementioned 40,000 and Dash even allegedly place a “good until cancelled” sell order on 39,600 shares at Scottrade for $3.00 per share, the Complaint states.

Afterward Zipkin allegedly placed a limit order on Hallmark’s behalf to buy 39,600 shares at about $3.00 per share, the Complain notes.

The Complaint then alleges that ALVP, which was thinly-traded, held a bid price in the open market of about $2.05 per share and the closing price on November 21, 2014, was $2.36.

On the very same day, November 21, 2014, the Complaint reports, Hallmark, Dash and Zipkin allegedly sold the 39,600 AVLI’ shares to fourteen Hallmark customers at $3.00 per share which led to total proceeds to Hallmark of approximately $118.740.60.

In summation, based on the aforementioned alleged actions Hallmark allegedly violated the Securities Act and thus FINRA Rules and Zipkin and Coons, as well as Hallmark, also acted in contravention of the Securities Act, and thus violated FINRA Rules, the Complaint states.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of the sales of unregistered shares and are currently investigating Hallmark Investments, Inc.’s alleged sales of unregistered shares of Avalanche International Corp. 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 Hallmark Investments, Inc.’s alleged sales of unregistered shares of Avalanche International Corp. 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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Nicolaas Pronk and Noble Financial—Investment Fraud Allegations

Nicolaas Petrus Pronk and Noble Financial Allegedly Defrauded Seven Customers by Recommending and Selling Almost a Million Shares of AdCare Health Systems, Inc. (ADK) without Disclosing Noble’s Conflicts of Interest

Nicolaas Pronk and Noble Financial allegedly defrauded seven customers by recommending and selling nearly a million shares of AdCare Health Systems (ticker symbol: ADK) to them without purportedly disclosing Noble’s multiple and material conflicts of interest, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

Nicolaas Pronk and Noble Financial, from April 2011 through September 2011, allegedly promoted and recommended ADK to prospective investors in order to profit from Noble’s undisclosed investment banking relationships with AdCare, the aforementioned Complaint reports.

Nicolaas Pronk and Noble Financial’s alleged promotion also included their undisclosed arbitrage of AdCare securities which also purportedly instilled a financial incentive to recommend ADK to customers, the Complaint also notes.

What is more, Nicolaas Pronk and Noble Financial, from May 31, 2011 through September 27, 2011, purportedly helping its sales campaign to sell ADK, when Pronk and three other brokers allegedly sold an aggregate of 863,930 shares of ADK to seven customers for a total of $5,034,997.44, the Complaint states.

Furthermore, Pronk also allegedly kept full control over all Noble Financial activities including proprietary trading, sales, investment banking, and the decision to initiate and prioritize the promotion and sale of ADK, the Complaint also reports.

The Peiffer Rosca Wolf securities lawyers are investigating Nicolaas Pronk and Noble Financial’s alleged investment fraud.

Nicolaas Petrus Pronk and Noble Financial Allegedly Made Aggressive Promotions and Solicited Purchases of ADK by Issuing Research through Noble’s Research Department

Nicolaas Pronk and Noble Financial allegedly made aggressive promotions and solicited purchases of ADK by issuing research through Noble’s Research Department, according to a Complaint from FINRA’s Department of Enforcement presently being examined by attorneys Alan Rosca and James Booker.

Nicolaas Pronk and Noble Financial allegedly also conducted non-deal so-called road shows through Noble’s Investment Banking and Institutional Sales and Trading Departments, the aforementioned Complaint reports.

What is more, Nicolaas Pronk and Noble Financial allegedly made contact with prospective investors which were primarily institutions, the Complaint also notes.

Said contact was allegedly made through registered representatives in Noble’s Institutional Sales and Trading Department, the Complaint states.

Nicolaas Pronk and Noble Financial also allegedly provided the aforementioned registered reps with misleading sales script to use when soliciting prospective investors in ADK, the Complaint further alleges.

The Complaint also alleges that Nicolaas Pronk and Noble Financial purportedly knowingly or recklessly did not tell seven customers who purchased ADK regarding four material conflicts of interest.

The aforementioned material conflicts of interest including that AdCare allegedly paid Noble $6,000 a month to provide advisory services to AdCare pursuant to an Advisory Agreement entered into with AdCare in February 2011, according to the aforementioned Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

Secondly, Noble also allegedly made agreements to produce capital for AdCare in exchange for a seven percent cash fee related to the total gross proceeds generated from the exercise of both publicly traded and privately-held AdCare warrants (ADK.WS) which was related to an addition to the Advisory Agreement made in April 2011, the Complaint notes.

Third, Noble allegedly promised the aforementioned brokers incredible incentive compensations in addition to regular commissions, in order to promote and solicit sales of ADK, the Complaint also states.

Furthermore, Nicolaas Pronk and Noble Financial allegedly took part in a risky arbitrage trading strategy in ADK and publicly-traded AdCare warrants, the Complaint further notes.

Nicolaas Pronk and Noble Financial, in connection to the aforementioned arbitrage, and through Noble’s proprietary accounts, allegedly purchased and held ADK.WS and also allegedly sold short ADK to its customers, the Complaint also reports.

Nicolaas Pronk and Noble Financial, based on the foregoing alleged fraudulent conduct, violated Sections of the Securities Exchange Act of 1934 and also allegedly violated FINRA Rules, the Complaint notes.

Later, Noble exercised the warrants it held long and, using the common shares it received through the exercises, covered its short position in ADK. 7. Respondents engaged in the arbitrage to profit from the spread between the cost of buying and exercising ADK.WS and the proceeds generated by short-selling ADK, and to generate Noble’s seven percent fee under the Warrant Agreement.

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 Nicolaas Pronk and Noble Financial’s 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 Nicolaas Pronk and Noble Financial’s 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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Anthony Mastroianni, Jr.—Excessive Trading and Alleged Churning Allegations

Anthony Mastroianni, Jr. Allegedly Engaged in Excessive Trading or Churning in a Senior Citizen’s Account Held at J.P. Turner and then at Alexander Capital

Anthony Mastroianni, Jr. allegedly churned or excessively traded an elderly customer’s account which was held at J.P. Turner and then at Alexander Capital, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Alan Rosca and James Booker.

Said AWC also states that Anthony Mastroianni, Jr. was associated with J.P. Turner and then at Alexander Capital whilst allegedly churning the aforementioned accounts,

In addition, Anthony Mastroianni, Jr. also allegedly borrowed $90,000 from said customer as well as an additional customer in four transactions, without notifying his firms or obtaining their approval, the AWC further notes.

Mastroianni, in April of 2009, became associated as a GSR with J.P. Turner & Company, L.L.C. and, in May 2012, became associated as a GSR with Alexander Capital, L,P, where he remained until November 2013, the AWC reports.

The Peiffer Rosca Wolf securities lawyers are currently investigating Anthony Mastroianni, Jr.’s alleged churning of customer accounts.

Anthony Mastroianni, Jr. Banned by FINRA after Allegedly Refusing to Appear for On-the-record Testimony

Anthony Mastroianni, Jr. allegedly refused to appear for on-the-record testimony as requested FINRA after FINRA opened a case to investigate alleged acts of customer churning, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) presently being examined by attorneys Alan Rosca and James Booker.

On October 31, 2016, FINRA Staff sent a request to Mastroianni for on-the-record testimony pursuant to FINRA Rules, according to the aforementioned AWC.

Mastroianni allegedly acknowledges that he received FINRA’s request and would not appear for on-the record testimony at any time, and hence, violated FINRA Rules and has been barred by FINRA, the AWC reports.

As a result of the aforementioned behavior Anthony Mastroianni, Jr. allegedly violated FINRA Rules and hence has been barred by FINRA from associating with any FINRA member in any capacity.

Furthermore, the AWC also notes that “the sanctions imposed herein shall be effective on a date set by FINRA staff, A bar or expulsion shall become effective upon approval or acceptance of this AWC.”

One should also note that, according to the AWC, Anthony Mastroianni, Jr. 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 alleged churning and are currently investigating Anthony Mastroianni, Jr.’s alleged acts of customer churning. 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 Anthony Mastroianni, Jr.’s  alleged acts of customer churning 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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Paul McCabe Jr.— Failure to Provide Documents

Paul J. McCabe Jr. Allegedly Failed to Provide Documents and Information as Requested by FINRA

Paul McCabe Jr. allegedly failed to provide documents and information as requested by FINRA, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Alan Rosca and James Booker.

Paul McCabe Jr., in or around June 2016, allegedly became the subject of a FINRA examination as FINRA began a so-called cycle examination of Olympus Securities, LLC, according to the aforementioned AWC.

On September, 30 2016, FINRA Staff sent McCabe a request for on-the-record testimony pursuant to FINRA Rules, according to the aforementioned AWC currently under review by attorneys Alan Rosca and James Booker.

Paul McCabe Jr. acknowledges that he received FINRA’s request and would not appear for on-the record testimony at any time, and hence, violated FINRA Rules and has been barred by FINRA, the AWC reports.

The Peiffer Rosca Wolf securities lawyers are currently investigating Paul McCabe Jr.’s alleged refusal to respond to a FINRA investigation.

Paul McCabe Jr. Barred by FINRA after Allegedly Violating FINRA Rules

Paul McCabe Jr. barred by FINRA after allegedly violating FINRA Rules, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) presently being examined by attorneys Alan Rosca and James Booker.

McCabe allegedly acknowledged that he received FINRA’s requests and made statements that he would not provide FINRA with the requested documents and information at any time, the AWC notes.

McCabe, as he allegedly refused to provide information and documents as requested pursuant to FINRA Rules, allegedly violated FINRA Rules and has been barred by FINRA from associating with any FINRA firm in any capacity.

McCabe’s FINRA BrokerCheck Report also alleges that McCabe has been permanently barred by FINRA.

McCabe’s FINRA BrokerCheck Report also reports that McCabe, in 2012, allegedly faced breach of contract in a pending case which requests $7 million in damages, the AWC reports.

McCabe reportedly first became registered with a FINRA member firm in July 1996, and from September 2015 to October 2016 McCabe was allegedly registered as a General Securities Representative and an Investment Company Products/Variable Contracts Representative through Olympus Securities, LLC , according to the AWC.

One should also note that, according to the AWC, Paul McCabe Jr. 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 alleged investment schemes and are currently investigating Paul McCabe Jr.’s alleged refusal to answer a FINRA investigation. 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 Paul McCabe Jr.’s alleged refusal to answer a FINRA investigation 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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Richard Cody—Investment Fraud Allegations

Richard G. Cody Allegedly Defrauded at Least Three Clients over a Twelve-year Period by Purportedly Hiding Losses in Their Retirement Accounts; Cody Allegedly Sent Clients Doctored Tax Forms

Richard Cody allegedly orchestrated a multi-year fraud scheme against retired clients by hiding the truth that their retired accounts had purportedly been pilfered, according to SEC Documents currently under review by attorneys Alan Rosca and James Booker.

Richard Cody, a former resident of Massachusetts and current resident of New Jersey, allegedly led clients to believe that their investment funds were holding solid value and that the clients were living off income from their investments, said SEC Documents report.

By, 2014, however, reality caught up to Cody and two of the retirees’ accounts allegedly ran out of steam and out of cash, the SEC Documents report.

Cody allegedly continued to take measures to hide that the retirees’ money was gone by making wire transfers of monthly deposits to the retirees’ bank accounts and also giving the clients doctored tax forms, the SEC Documents state.

The SEC Documents further allege that the aforementioned behavior resulted in Cody’s clients to understand that their retirement savings were safe when, in fact, they were diminished.

The Peiffer Rosca Wolf securities lawyers are investigating Richard Cody’s alleged investment fraud.

Richard G. Cody Allegedly Sent Clients Fraudulent Documents to Create the Illusion that a Big Financial Firm was Holding an Annuity for a Client and Told One Client they Had $1.28 Million in their Account but Really only Held $162, 560

Richard Cody, as late as March 2016, allegedly made lies to a Maryland married couple by allegedly informing a husband and wife that they held $1.28 million left in their investment accounts but in reality their retirement accounts only contained $162,560, according to SEC Documents presently being examined by attorneys Alan Rosca and James Booker.

Richard Cody also allegedly made false representations that the client’s funds had been invested in an annuity and then allegedly sent the client a fraudulent document to create the appearance that a well-known financial firm held an annuity for that client, the SEC Documents also report.

Richard Cody, of Spring Lake, New Jersey had allegedly worked for many years lying to clients about their accounts, has purportedly been defrauding clients out of his RIA, Boston Investment Partners, the SEC Documents note.

Cody allegedly launched Boston Investment Partners in 2009 only one year after FINRA filed a complaint against him, according to the SEC complaint.

The SEC’s Complaint alleges that Cody violated Sections of the Exchange Act and also seeks disgorgement of ill-gotten gains plus interest and penalties as well as permanent injunctive relief.

Furthermore, the SEC also seeks a court-ordered asset freeze against Cody and Boston Investment Partners, which was named as a relief defendant, a temporary restraining order, and a detailed accounting of Cody’s assets, according to the SEC Documents.

Finally, it should be noted that neither the SEC nor FINRA immediately responded to inquiries as to why FINRA suspended Cody for only a year after the discovery of his alleged transgressions and, then, why the SEC subsequently allowed him back into the industry as an RIA, the SEC Documents note.

Cody is no longer registered as an adviser nor licensed as a broker, the SEC reports.

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 Richard Cody’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 Richard Cody’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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Peggy Ann Fulford—Investment Fraud

Peggy Ann Fulford Allegedly Operated a Multi-million Financial Scheme Targeting Former Athletes Such as Ricky Williams

Peggy Ann Fulford, 58, a former Houston resident and now living in New Orleans, allegedly operated a multi-million financial scheme which targeted former athletes such as Ricky Williams, according to an Indictment from the U.S. Attorney’s Office Southern District of Texas.

Peggy Ann Fulford, a.k.a. Peggy King, Peggy Williams, Peggy Simpson, Peggy Rivers, Peggy Barard, Devon Cole, and Devon Barard, allegedly made statements to victims that she had been to Harvard and was a money manager, the aforementioned Indictment notes.

Fulford also allegedly made offers to manage client expenses and use their money exclusively to pay their bills, income tax payments, and to make retirement investments for them, the Indictment further alleges.

Fulford Allegedly Moved Cash from Alleged Victim Funds Back and Forth between Various Bank Accounts; Fulford Allegedly Used Client Funds on Personal Expenses

Peggy Ann Fulford allegedly executed her purported scheme by moving client funds back and forth between various bank accounts, according to an Indictment from the U.S. Attorney’s Office Southern District of Texas.

Fulford also allegedly never made requests for fees because she allegedly made reports to the alleged victims that she already had millions of dollars and simply wished to protect them from losing their money, the Indictment reports.

Finally, Fulford allegedly made communications with victims in several ways, including in person, by phone and by email, had allegedly soothed them to open or give her access to bank accounts and then allegedly raided and used the cash for personal expenses such as jewelry, luxury cars, real estate,  and airline tickets, the Indictment notes.

The Peiffer Rosca Wolf Securities Lawyers Often Assist Investors

The Peiffer Rosca Wolf securities lawyers assist investors who lose money as a result of investment 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 have lost money as a result of investment schemes are encouraged to 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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Ricky Randon Moore—Outside Business Activities

Ricky Randon Moore Allegedly Took Part in Outside Business Activities by Acting as President of Brazoria Church of Christ LLC; Moore Allegedly Failed to Provide Written Notice to Commonwealth Financial Network

Ricky Randon Moore allegedly failed to provide advance written notice to Commonwealth Financial Network in regards to his participation in a church bond offering, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

Ricky Randon Moore allegedly engaged in said undisclosed outside business when he acted as the president and director of the Brazoria Church of Christ LLC, the Complaint notes.

The Complaint further alleges that Moore facilitated the church bond offering for the Brazoria Church, and the offering was purportedly $575,000, the Complaint reports.

It should also be noted that Ricky Moore was and is purportedly the minister of the Brazoria Church of Christ LLC in Brazoria, Texas, the Complaint notes.

The Church issued bonds to finance the construction of a new Church building, the Complaint states.

An Annual Compliance Questionnaire from Commonwealth Financial Network’s showed that Moore allegedly answered “No” to the question regarding whether he had participated in raising capital, equity, or debt for any public or private investment or venture outside of a firm-approved offering, the Complaint reports.

Furthermore, the Complaint further alleges that Moore allegedly answered the Questionnaire falsely when he failed to disclose that his participation in the Church bond offering was an outside business activity, the Complaint notes.

The Peiffer Rosca Wolf securities lawyers are investigating Ricky Randon Moore’s alleged outside business activities.

Ricky Randon Moore Fined $30,000 for Alleged Failure to Provide Proper Written Notice; Moore Allegedly Claims His Actions were “Tangential” and Did Not Constitute Participation in the Offering

Ricky Randon Moore has been suspended and fined $30,000 for his alleged failure to provide advance written notice to Commonwealth, according to a Complaint from FINRA’s Department of Enforcement presently being examined by attorneys Alan Rosca and James Booker.

Ricky Randon Moore, one should note, purportedly has denied that he took part in an outside business activity or falsely answered the Questionnaire, the aforementioned Complaint further alleges.

Moore further alleges that his participation in the aforementioned Church bond offering was so “tangential” that they did meet the level of participating in the offering, the Complaint reports.

Moore goes on to further make claims that the answer of “No” in the Questionnaire was made in truth because he did not participate in raising capital, equity, or debt for a public or private investment or venture that was not approved by Commonwealth, the Complaint notes.

It should also be noted that when Moore became registered through Commonwealth, he allegedly requested and received the Commonwealth’s permission to act as a pulpit minister for the Church and took in $30,000 in annual compensation, the Complaint states.

The Complaint then further notes that in Moore’s disclosure of outside business activity form submitted in November 2008 that his duties and obligations as pulpit minister would include teaching and preaching and that he would not spend any of his time and energy on this activity in regular business hours.

Moore allegedly agreed that none of the aforementioned activity would be conducted in a FINRA-registered office, the Complaint further notes.

Furthermore, the aforementioned activity would purportedly not be involved with Commonwealth customers, and that Moore would have no involvement in the finances of the Church, the Complaint notes.

The Commonwealth also allegedly approved Moore’s service as minister of the Church but also purportedly made a point of cautioning him that “should there be any change in the nature of your involvement in this activity, prior written consent must be obtained from the Commonwealth Compliance Department”, according to the Complaint.

The FINRA Hearing Panel in Dallas, Texas concluded that Moore violated FINRA Rules by engaging in outside business activities without providing prior written notice to his firm, and violated FINRA Rules falsely answering the Questionnaire, the Complaint states.

As a result of the aforementioned behavior, FINRA has fined Moore $30,000, the Complaint also reports.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of outside business activities and are currently investigating Ricky Randon Moore’s alleged 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 Ricky Randon Moore’s alleged 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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Richard Siskey—Property Fraud Allegations

Richard Siskey, a Prominent Charlotte Businessman, Found Dead after an Apparent Suicide; Siskey Had Purportedly Faced Losing Property after Allegations of Fraud

Richard Siskey, a prominent Charlotte businessman, has been found dead via gunshot after an apparent suicide, according to News Reports from Charlotte currently under review by attorneys Alan Rosca and James Booker.

Siskey’s troubles began after he faced losing property after allegations rose that he had acquired said property from alleged acts of fraud, said News Reports further claim.

Siskey, who was 58 and had done enough in Charlotte to have a local YMCA named after him, was under investigation by the Federal Government, according to a North Carolina Court Filing currently under review by attorneys Alan Rosca and James Booker.

The investigation against Siskey explored Siskey’s 1999 purchase of $2.8 million property at the corner of Sharon Road and Sharon Lane, the very same residence he was purportedly found dead, said News Reports state.

Richard Siskey’s case progressed after an Order was signed by U.S. Magistrate Judge David Cayer which purportedly stated that an FBI agent gave an affidavit to the court alleging the property was derived from proceeds derived from violations of U.S. fraud statutes, said North Carolina Court Filings report.

The Peiffer Rosca Wolf securities lawyers are monitoring Richard Siskey’s alleged property fraud and would like to talk to investors.

Richard Siskey, Former Father of the Year, was Facing a Government Seizure of His Three Houses, which Included Three Houses on 7.4 Acres Valued at $3.9 Million in 2011

Richard Siskey, a former 2008 Father of the Year, was allegedly facing a government seizure of his three homes, which entailed 7.4 Acres which had been appraised at $3.9 million in 2011, according to News Reports from Charlotte presently being examined by attorneys Alan Rosca and James Booker.

Reports of the entire case are a bit sketchy as the filing in the case does not give any details on the alleged fraud, according to Court reports from North Carolina.

What is more, other documents in the case were allegedly sealed, Court reports from North Carolina reveal.

It was also impossible to gain more information from representatives from the FBI and the US Attorney’s office in Charlotte or more comments, said Court Reports also note.

Siskey, according to reports from Charlotte, worked at Charlotte’s Consolidated Planning Inc., which held specialization in helping business owners with estate, tax and financial planning, and he also owned an investment company with stakes in several local restaurants and computer-consulting companies.

Siskey’s career then grew when, by the mid-1990s, he was doing business with dozens of local entrepreneurs and professionals and Siskey left the firm 18 years ago and has not been affiliated with it since, reports from Charlotte further attest.

Siskey also had his own building named after him in 1999 by Bissell Development on Sharon Road near SouthPark mall, and became the first anchor tenants to commit to office space there, reports from Charlotte note.

Siskey had just celebrated his birthday on Christmas Eve, new reports from Charlotte state.

Unfortunately, Siskey leaves behind two adult children and his wife, said New Reports note.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged property fraud and are currently investigating Richard “Rick” Siskey’s alleged acts of property 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. They are monitoring the case and would like to talk to investors.

Investors who believe they lost money as a result of “Rick” Siskey’s alleged acts of property 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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Platinum Partners and Mark Nordlicht—Fraud Scheme

Platinum Partners Founder Mark Nordlicht and Two of its Main Hedge Fund Advisory Firms Allegedly Orchestrated a Fraud Scheme Where Assets Values were Inflated and Investor Money was Moved to Cover Losses

Mark Nordlicht founder of Platinum Partners, and two of Platinum’s flagship hedge funds allegedly orchestrated a fraud scheme, according to SEC Documents currently under review by attorneys Alan Rosca and James Booker.

Suspicions arose after SEC examiners reviewed the firm, said SEC Documents note.

The SEC alleges that Nordlicht and the aforementioned hedge funds allegedly inflated the value of assets, SEC Documents state.

What is more, Nordlicht and the Platinum funds allegedly moved investor cash in order to rectify liquidity issues and to attempt to hide losses, the aforementioned SEC Documents report.

Nordlicht and the Platinum funds allegedly attempted to hide their emerging liquidity problems by purportedly moving cash from fund to fund, the SEC Documents note.

The SEC also highlights that Nordlicht and the Platinum funds allegedly made “preferential redemptions to favored investors,” according to SEC Documents.

What is more, Nordlicht and the Platinum funds also allegedly made misrepresentations in order to bring in new investors to the funds which were in trouble in what private in-house documents spoke of as so-called “Hail Mary time”, the SEC Documents also note.

The Peiffer Rosca Wolf securities lawyers are currently investigating two Platinum hedge funds and Mark Nordlicht’s alleged fraud scheme. However, unlike some of the other law firms investigating, their focus is on the investment professionals that promoted Platinum and recruited investors to invest in it.

Mark Nordlicht and the Platinum Funds Allegedly Overstated the Value of an Oil Company which Ranked among Platinum’s Biggest Assets

An SEC review of the aforementioned Platinum Funds alleges that Mark Nordlicht and the Platinum funds purportedly made financial reports which overstated the value of an oil company that served as one of the firm’s most valuable assets, according to an SEC Complaint filed in Brooklyn and presently being examined by attorneys Alan Rosca and James Booker.

What is more, Nordlicht was purportedly in cahoots with two colleagues and an executive of another major oil investment at the Platinum funds in order to allegedly siphon nearly $100 million from said company in order to bolster the profit line of the Platinum funds, according to the aforementioned SEC Documents.

Said company’s noteholders allegedly held priority over preferred shares and Platinum’s management and its affiliates and were also allegedly banned from taking part in any vote among noteholders to make changes to this priority, the SEC reports.

Next, in a stunning turn of events, according to SEC Documents, Nordlicht and others allegedly made a play to rig the vote by clandestinely transferring a huge block of notes to affiliates.

Then, said conglomerate allegedly cast votes in support of Platinum’s position, the SEC notes.

The document of solicitation then allegedly made false claims that Platinum only held only a tiny minority of the notes, the SEC reports.

The SEC’s Complaint then goes on to make charges against a myriad of individuals in addition to Nordlicht for their alleged participation in the alleged schemes.

In a very similar move, the U.S. Attorney’s Office for the Eastern District of New York today announced criminal charges, the SEC also notes.

Others charged in the SEC’s Complaint in addition to Nordlicht, Platinum Management (NY) LLC, and Platinum Credit Management LP include the following:

•       David Levy, owner and co-chief investment officer along with Nordlicht.

•       Daniel Small, former managing director and portfolio manager of certain Platinum funds.

•       Uri Landesman, former managing general partner of certain Platinum funds.

•       Joseph Mann, who worked in Platinum Management’s investor relations department.

•       Joseph SanFilippo, CFO of a Platinum hedge fund.

•       Jeffrey Shulse, CFO of Black Elk Energy, the oil company used in the illicit $100 million scheme.

Funds managed by Platinum Management are currently in a liquidation proceeding in the Cayman Islands, according to the SEC Complaint.

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 fraud schemes. The Peiffer Rosca Wolf securities lawyers are currently investigating two Platinum hedge funds and Mark Nordlicht’s alleged 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 two Platinum hedge funds and Mark Nordlicht’s alleged fraud scheme are encouraged to 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 Baker, Jacob Herrera, Michael Bowen, Terrence Ballard & Chris Faulkner—Fraud Offering

Robert L. Baker, Jacob B. Herrera, Michael D. Bowen, and Terrence A. Ballard Allegedly Offered the Sale of Undivided Oil and Gas Interests to Hundreds of Investors as Part of a Purported $80-Million Fraud Offering Allegedly Ran by Chris Faulkner

Robert L. Baker, Jacob B. Herrera, Michael D. Bowen, and Terrence A. Ballard allegedly offered the sale of undivided oil and gas interests to hundreds of investors as part of a purported $80-million fraud offering allegedly ran by Chris Faulkner, a.k.a. “The Faulkner Scheme”, according to a recent SEC Order currently under review by attorneys Alan Rosca and James Booker.

The aforementioned respondents allegedly took part in the aforementioned Faulkner Scheme by making sales or participating in the sale of securities to hundreds of investors, said SEC Order reports.

Said respondents allegedly took part in the sales by making cold-calls to thousands of investors across the country in order to solicit investments in dozens of unregistered oil and gas securities offerings, the SEC Order notes.

What is more, Baker, Herrera, Bowen, and Ballard also allegedly gave enormous details regarding the offerings to potential investors, the SEC Order further remarks.

It should also be noted that, according to the SEC Order, none of the aforementioned respondents were registered with the Commission as a broker or associated with a registered broker-dealer during this time.

The Peiffer Rosca Wolf securities lawyers are currently investigating Baker, Herrera, Bowen, and Ballard’s alleged involvement in the so-called Faulkner Scheme and are in touch with investors.

Chris Faulkner Allegedly Took Advantage of the Interest in Investing in the Shale Oil Boom to Orchestrate the Aforementioned Scheme Wherein He Allegedly Made Fraudulent Sales of Investments in More than 20 Oil and Gas Prospects in Many States

Chris Faulkner allegedly saw investor interest in the shale oil boom and used this to allegedly operate the aforementioned scheme in which he allegedly made fraudulent sales of investments in more than 20 oil and gas prospects in several states, according to a recent SEC Order presently being reviewed by attorneys Alan Rosca and James Booker.

Faulkner, 39, was the co-founder of Breitling Oil and Gas Corporation (BOG) and Breitling Royalties Corporation (BRC) served as President of the aforementioned entities through December 2013, the SEC reports.

Faulkner, currently the President, CEO, and Chairman of the Board of Breitling Energy Corporation, allegedly used his purported gains to fuel “a lifestyle of decadence and debauchery”, the SEC reports.

Faulkner’s alleged fraud allegedly relied on four interlinked companies whose relationships were not disclosed entirely to investors, the SEC reports.

Faulkner and his associates, the SEC further notes, allegedly lied to investors about the cost of drilling and completing wells, and the expected earnings for the prospects.

What is more, the aforementioned respondents, Robert L. Baker, Jacob B. Herrera, Michael D. Bowen, Terrence A. Ballard, between 2011 and 2016, also allegedly brought in $9 million collectively in undisclosed transaction-based compensation in the form of commissions, the SEC Order also reports.

For example, Robert L. Baker, 54, and of Dallas, Texas, and a former salesperson for Breitling Oil and Gas Corporation, Breitling Royalties Corporation, Crude Energy, LLC, Crude Royalties, Patriot Energy, Inc., and Patriot Royalties, allegedly sold oil and gas interests as part of unregistered offerings, the aforementioned SEC Order notes.

Baker, the SEC further notes, is allegedly not registered with the Commission in any capacity and does not have any disciplinary history.

Next is Jacob B. Herrera, a.k.a. Brandon Jacobs, 26, and of Cedar Hill, Texas, who purportedly worked as a salesperson for BOG, BRC, Crude, CR, Patriot, and PR selling oil and gas interests as part of unregistered offerings, according to the SEC.

Herrera, as with Baker, the SEC further notes, is also not registered with the Commission in any capacity and does not have any disciplinary history

Then there is Michael D. Bowen, 34, and a resident of Waxahachie, Texas, also reportedly worked as a salesperson for BOG, BRC, Crude, CR, Patriot, and PR selling oil and gas interests as part of unregistered offerings, the SEC Order notes.

Bowen, as with Herrera and Baker, is not registered with the Commission in any capacity and does not have any disciplinary history, the SEC Order reports.

Finally, we have Terrence A. Ballard.

Ballard, 41, and a resident of Frisco, Texas also worked as a salesperson for BOG, BRC, Crude, CR, Patriot, and PR selling oil and gas interests as part of alleged unregistered offerings, the SEC Order notes.

None of the aforementioned respondents was registered with the Commission as a broker or associated with a registered broker-dealer during this time, the SEC notes.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged fraud offerings and are currently investigating Robert L. Baker, Jacob B. Herrera, Michael D. Bowen, and Terrence A. Ballard’s alleged fraud offering. 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 L. Baker, Jacob B. Herrera, Michael D. Bowen, and Terrence A. Ballard’s alleged 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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