Mantford Hawkins and David Bell, 4D Circle LLC– Fraudulent Real Estate Investment Scheme

Mantford C. Hawkins and David E. Bell, the CEO and COO of 4D Circle LLC, Respectively, Allegedly Obtained at Least $9 Million from 50 Investors in Seven U.S. States and Canada

Mantford Hawkins and David Bell, of Fort Worth and the CEO and COO of 4D Circle LLC, respectively, allegedly raised at least $9 Million from 50 investors in seven U.S. states and Canada, according to an SEC Complaint currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to Mantford Hawkins and David Bell’s alleged real estate investment fraud.

Investors who believe they may have lost money in activity related to Mantford Hawkins and David Bell’s alleged real estate 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.

4D allegedly made claims of being “a wealth creation company” which mostly focused on acquiring apartment and office buildings and then would supposedly apply proprietary technology and managerial practices to generate “greater profitability [with] less risk” for investors, said SEC Complaint notes.

4D’s company’s website and written offering materials also allegedly made elaborations on the aforementioned claims by asserting that investors could earn returns of 30% within a 9-month time frame, and that investments were purportedly “bonded”, the Complaint states.

What is more, 4D’s company’s website and written offering materials also allegedly claimed that investor funds were protected through the use of escrow accounts and third-party oversight which included “case studies” of particular properties the company had acquired, which supposedly showed the profitability of its model, the Complaint reports.

Furthermore, 4D’s company’s website and written offering materials also allegedly included “case studies” of particular properties the company had acquired, which purported to demonstrate the profitability of its model, the Complaint notes.

The Peiffer Rosca Wolf securities lawyers are currently investigating Mantford Hawkins and David Bell’s alleged real estate investment fraud.

Mantford C. Hawkins and David E. Bell Allegedly Produced False Content for Their Web Site and Offering Materials; 4D was allegedly not Making Sufficient Revenue to Support Returns to Investors

The aforementioned claims in the representations and case studies were allegedly false and said properties 4D had acquired were not generating anywhere near sufficient revenue to support the returns promised to investors, according to the aforementioned SEC Complaint currently under review by attorneys Alan Rosca and James Booker.

Hawkins and Bell allegedly held knowledge that the properties they had acquired were not producing nearly enough sufficient revenue to support the returns promised to investors, the Complaint states.

The so-called “bond” which supposedly supported the investments was inadequate to cover the returns promised to investors and, in reality, did not apply to most of the properties 4D Circle had acquired, the Complaint reports.

The Complaint seeks preliminary and permanent injunctive relief, disgorgement of ill-gotten gains with prejudgment interest, and civil penalties in addition to seeking the asset freeze and receivership.

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 Mantford Hawkins and David Bell’s alleged real estate 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 Mantford Hawkins and David Bell’s alleged real estate 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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Michael Boswell, Tripoint Global Equities LLC—Securities Fraud

Michael Boswell, Co-founder and President of Tripoint Global Equities LLC, Allegedly Operated a $81 Million “Hamilton” Ponzi Scheme Promising Profits from Broadway Ticket Sales

Michael Boswell, co-founder and President of Tripoint Global Equities LLC, allegedly ran a $81 million Ponzi scheme promising profits from reselling tickets from the Broadway hit “Hamilton”, according to Documents from the U.S. Securities and Exchange Commission (SEC) currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to Michael Boswell’s alleged Ponzi scheme.

Investors who believe they may have lost money in activity related to Michael Boswell’s alleged 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.

The president of a broker-dealer allegedly told a New York federal court recently that an investor failed to allege he committed an act of securities fraud in a suit involving an alleged $81 million Ponzi scheme that had promised big profits from the resale of tickets to the hit Broadway musical “Hamilton”, according to said SEC Documents.

Michael Boswell allegedly made arguments that an investor’s so-called “shotgun pleading” purportedly did not actually allege that he performed any wrongdoing, and said he should be liberated from the case that accuses TriPoint of passing off the investment as a “no-brainer”, SEC Documents note.

Boswell purportedly made the following statement: “Plaintiffs make no factual allegations with respect to any purported wrongdoing by Mr. Boswell under any of the counts of the amended complaint.”

The Peiffer Rosca Wolf securities lawyers are currently investigating whether investors who invested through TriPoint may have claims against that brokerage firm’s alleged Ponzi scheme.

Scheme’s Promoters Allegedly Made Misrepresentations to at Least 125 Investors that their Funds would be Pooled to Purchase Big Numbers of Tickets to Hit Events like “Hamilton” or Adele Concerts

Promoters of the scheme allegedly made misrepresentations to at least 125 investors that their funds would be pooled to purchase big numbers of tickets to huge events like “Hamilton” or Adele concerts, which would then be resold to bring in big returns, said SEC Documents report.

Promoters then allegedly made false assertions to investors that he had an agreement with the producer of “Hamilton” to purchase 35,000 tickets to the musical to be resold for a profit, SEC Documents note.

But of the aforementioned $81 million which was raised, only $9 million was spent in connection with the ticket reselling business, while $48 million was used to pay existing investors, according to the Complaint.

Other investors also claim to have purportedly lost about $4.5 million between them after a Tripoint investment banker gave them a so-called “hard sell” on the ticket resale investment, according to recent Reports from New York.

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 whether investors who invested through TriPoint may have claims against that brokerage firm’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 the alleged “Hamiltion” 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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Brogdon Bond Investor News: Lawson Financial and Its Underwriter’s Counsel Settle SEC Charges Stemming from Failed Brogdon Bonds

April 5, 2017 – The Securities and Exchange Commission (“SEC”) announced a settlement with Lawson Financial Corporation (“Lawson”), Robert Lawson, and former underwriter’s counsel John T. Lynch in a case stemming from Lawson’s offering of fraudulent bonds managed by Christopher Brogdon. The SEC order which memorializes the settlement specifically finds that Lawson and the named individuals failed in their duty to act as a gatekeeper – to perform adequate due diligence – when underwriting the Brogdon bonds. Lawson must pay $200,000 in penalties for itself and $80,000 for Robert Lawson himself, as well as disgorge $200,000 in profits from the bond sales. Lynch, the former underwriter’s counsel, will pay a separate penalty of $45,000.

The root of the SEC’s complaint against Lawson was that the company failed to confirm that the Brogdon borrowers were following the ongoing disclosure requirements mandated by Rule 15c2-12. Lynch also failed to disclose that he was not authorized to practice law at the time of the offerings, despite being represented as such in the offering documents. This failure of due diligence abdicated the gatekeeper role that underwriters perform, and left investors high and dry while making Lawson and Brogdon substantial amounts of money.

The securities litigators at the Peiffer Rosca Wolf law firm are investigating the Brogdon products sold by Lawson, and are currently prosecuting a case on behalf of certain Brogdon investors. If you lost money by purchasing bonds managed by Brogdon, we want to hear from you. Contact attorney Alan Rosca or James Booker at 216.589.9280, or via email at arosca@prwlegal.com for an evaluation of your possible recourse regarding Brogdon bonds.

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Snyder’s-Lance (LNCE) Investors: Peiffer Rosca Wolf Lawyers Investigating Share Price Drop

Snyder’s Lance (NASDAQ: LNCE), the North Carolina snack maker, is being investigated by the Peiffer Rosca Wolf law firm on behalf of its shareholders, following the company’s announcements that its CEO suddenly departed and its preliminary first quarter 2017 results are well-below its prior guidance.

Snyder’s Lance publicly announced that its financial results have been negatively impacted by increased spending on marketing and promotions. Following its announcements, LNCE’s common stock suffered a sharp drop.

The Peiffer Rosca Wolf lawyers are investigating whether Snyder’s-Lance investors may have claims for compensation arising out of potential violations of the securities laws and regulations0.

If you purchased shares of Snyder’s-Lance, believe you may have suffered a loss on your investment, and wish to learn more about your options or provide information to help our investigation, please contact Alan Rosca or James Booker, by email at arosca@prwlegal.com or jbooker@prwlegal.com, or by phone toll free at 888-998-0520.

Peiffer Rosca Wolf is an investor rights law firm with offices across the country that represents shareholders investors who are victims of investment-related misconduct by issuers of securities and/or securities industry members. To learn more about the law firm and for important information about its lawyers’ admissions, please visit our website, http://ift.tt/1PwVxPX.

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Wins Finance Losses Update: Securities Class Action Lawsuit Against Wins Finance Holdings Inc. (WINS)

Wins Finance Holdings (NASDAQ: WINS) has been accused of making false or misleading statements regarding its projected earnings, valuation, and future business operations that artificially inflated the price of the company’s shares, in an investor lawsuit recently filed against it.

Wins Finance was sued after SeekingAlpha.com published, on March 30, 2017, an article stating that the SEC is actively investigating Wins Finance for alleged “market manipulation.” When this news was announced, the stock price of Wins Finance fell, causing considerable losses to its investors.

The lawsuit against Wins Finance alleges that defendants made false or misleading statements or failed to disclose that: (1) Wins did not maintain a U.S. headquarters; (2) Wins had intentionally misrepresented its headquarters to gain inclusion on the Russell indexes; (3) Wins was not in compliance with SEC regulations; and (4) Wins failed to maintain adequate internal controls. When the true details entered the market, the investors suffered damages, the lawsuit alleges.

Wins investors who wish to serve as lead plaintiff in the recently-filed class action must move the Court no later than June 5, 2017. If you wish to join the litigation, please contact Alan Rosca at (888) 998-0520 or by email at arosca@prwlegal.com.

This message includes attorney advertising. Please visit http://ift.tt/1PwVxPX for important disclosures about the Peiffer Rosca Wolf law firm and its attorneys’ admissions. Peiffer Rosca Wolf Abdullah Carr & Kane, A Professional Law Corporation (“Peiffer Rosca Wolf”).

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Norman Kirby Farra– Undisclosed Outside Business Activities and Private Securities Transactions

Norman Kirby Farra, Jr. Allegedly Participated in Undisclosed Outside Business Activities and Private Securities Transactions

Norman Kirby Farra allegedly participated in undisclosed outside business activities and private securities transactions, according a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to Norman Kirby Farra’s alleged participation in undisclosed outside business activities and private securities transactions.

Investors who believe they may have lost money in activity related to Norman Kirby Farra’s alleged participation in undisclosed outside business activities and 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.

On January 20, 2017, FINRA Staff sent a request to Norman Kirby Farra for on-the-record testimony pursuant to FINRA Rules, according to the aforementioned AWC. Said request allegedly asked that Farra produce various documents and information no later than February 3, 2017, the AWC states.

The Peiffer Rosca Wolf securities lawyers are currently investigating Norman Kirby Farra’s alleged material misrepresentations.

Norman Kirby Farra Barred by FINRA; Farra Allegedly Failed to Respond to a FINRA Request to Provide Documents and Information

Norman Kirby Farra allegedly failed to produce the requested documents and information requested pursuant to FINRA in the course of a FINRA investigation regarding alleged undisclosed outside business activities, according to the aforementioned AWC currently under review by attorneys Alan Rosca and James Booker.

Hence, Norman Kirby Farra’s alleged behavior violated FINRA Rules and therefore he has been barred from associating with any FINRA member firm in any capacity, the AWC notes.

FINRA Rules require that members and associated persons observe high standards of commercial honor and “just and equitable principles of trade”, the AWC reports.

Norman Kirby Farra’s FINRA BrokerCheck Report reveals that he has only one customer dispute from 1997 which alleged breach of fiduciary duty, negligence and breach of contract which resulted in an award of $116,000.

One should also note that, according to the AWC, Norman Kirby Farra 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 Norman Kirby Farra’s alleged participation in undisclosed outside business activities and 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 Norman Kirby Farra’s alleged participation in undisclosed outside business activities and 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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Peiffer Rosca Wolf Securities Attorneys Investigating Potential Claims on Behalf of Fang Holdings Investors

The Peiffer Rosca Wolf securities attorneys are investigating potential claims on behalf of those who purchased Fang Holdings Limited (NYSE: SFUN) securities. The Peiffer Rosca Wolf attorneys are investigating whether Fang Holdings and any of its officers and directors may have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

A report from Bloomberg News on March 29, 2017 gave rise to the Peiffer Rosca Wolf investigation.  According to the Bloomberg report, the housing commission of Beijing City canceled the brokerage license of a Fang Holdings’ unit, “because the unit posted fake online information for property sales.” The American depositary shares (ADS) of Fang Holding’s closed down $0.06, or 2.17%, on March 29, 2017 following this news.

The Peiffer Rosca Wolf Abdullah Carr & Kane law firm represents individual and institutional investors who have suffered financial losses as a result of investment fraud or misconduct, Ponzi schemes, unsuitable investment recommendations, or abusive practices in the financial industry.

Investors who acquired Fang Holdings securities are encouraged to call the Peiffer Rosca Wolf securities attorneys Alan Rosca or James Booker at 888-998-0520 or by completing the contact form on this website. You may also contact our law firm via email at arosca@prwlegal.com.

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James Kolf—Investment Fraud Scheme

James Kolf Allegedly Ran an Investment Scheme which Defrauded Investors out of $1Million; Kolf Allegedly Solicited Customers from New England Securities to Invest in SFN Financial Network

Have you or a loved one invested your hard-earned cash in James Kolf’s alleged investment fraud scheme? James Kolf, 64, allegedly ran an investment scheme which purportedly defrauded investors out of $1million, according to an Indictment filed in U.S. District Court in Madison, Wisconsin currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to James Kolf’s alleged investment fraud scheme.

Investors who believe they may have lost money in activity related to James Kolf’s alleged investment 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.

Kolf was indicted on federal charges that he allegedly used investor funds to pay his own personal expenses, according to the aforementioned Indictment.

All in all, James Kolf allegedly took $905,077 in investor funds that he purportedly never used for investments, but rather his own personal uses, the Indictment reports.

James Kolf is now facing charges of 16 counts of alleged wire fraud, one count of alleged mail fraud and one count of alleged money laundering, said Indictment notes.

The money laundering case is allegedly derived from a purported scheme to siphon investor money from April 2011 through August 2016, the Indictment states.

Each wire and mail fraud count carries up to 20 years in prison, and the money laundering count carries up to 10 years.

Kolf reportedly worked as a broker-dealer agent and as an investment adviser in Middleton and Madison, and, starting in 2011, allegedly started making solicitations toward existing customers he had at New England Securities to invest in SFN Financial Network, the Indictment notes.

The Peiffer Rosca Wolf securities lawyers are currently investigating James Kolf’s alleged investment fraud scheme.

James Kolf Allegedly Made Misrepresentations Regarding SFN Financial Network; Kolf Allegedly Claimed that Investor Dollars would be Put into Energy Companies and that Investments would Garner 6 Percent Annual Returns and Purportedly Used Investor Funds to Buy a Home and a Mini Cooper

James Kolf allegedly made misrepresentations to investors regarding SFN Financial Network, according to the aforementioned Indictment presently being reviewed by attorneys Alan Rosca and James Booker.

For example, Kolf allegedly made claims that investor monies would be put into energy companies and that said investments would bring in 6 percent annual gains, the Indictment notes.

SFN Financial Network, however, was allegedly not a verified and legitimate investment and Kolf, according to the Indictment, allegedly had no intentions of investing any of the money he took in.

Kolf, in order to fight this quagmire, made attempts to increase the appearances of SFN Financial Network to potential investors, the Indictment notes. For instance, Kolf allegedly handed out investors prospectuses and marketing materials for the closely named FS Energy & Power Fund, which is a genuine investment, the Indictment states.

In reality, FS Energy & Power Fund and SFN Financial Network had no relationship, and SFN Financial Network made no investment in FS Energy & Power Fund or any other like energy or power-producing entity, the Indictment reveals.

Kolf rather used the investor cash to buy a home in Sauk City, engage in home improvements, pay off credit cards, property taxes and outstanding tax debt, and to purchase a Mini Cooper, the Indictment notes.

The government is now seeking forfeiture of the aforementioned assets, the Indictment states.

Furthermore, Kolf also allegedly gave investors phony account statements which held year-to-date profits and portfolio balances, the Indictment notes. Kolf also allegedly made some payments to a few investors, and purportedly told them that said payments were interest earned from their accounts, statements which were allegedly inaccurate.

Finally, said money laundering count is connected to $280,534 Kolf took out in May 2014 from his SFN checking account, which was purportedly used to eventually purchase his home in Sauk City on Mulberry Street, the Indictment states.

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 James Kolf’s alleged investment 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 James Kolf’s alleged investment fraud scheme may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

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Daniel Glick— Investment Fraud

Daniel H. Glick Allegedly Ran a Multi-million Dollar Scam Purportedly Targeting the Elderly; Glick Allegedly Made Claims that He would Invest, Take care of Taxes, and Pay Bills on Behalf of His Senior Clients

Daniel Glick allegedly ran a multi-million dollar scam which allegedly preyed on elderly investors, according to SEC Documents currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to Daniel Glick’s alleged investment fraud.

Investors who believe they may have lost money in activity related to Daniel Glick’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.

Daniel Glick, a Chicago-based investment advisor, allegedly made claims to elderly investors that he would pay their bills, take care of their taxes, and invest on their behalf, according to said SEC Documents.

Daniel Glick and his unregistered investment advisory firm Financial Management Strategies (FMS) allegedly gave clients false account statements in order to conceal Glick’s use of client funds to pay personal and business expenses which included luxury autos and debt repayment, the SEC reports.

The Peiffer Rosca Wolf securities lawyers are currently investigating Daniel Glick’s alleged investment fraud.

Daniel Glick Facing an Emergency SEC Asset Freeze and a Temporary Restraining Order; Glick Barred by FINRA in 2014 and Had His CFP and CPA Revoked for Unrelated Charges

Daniel Glick, who was barred by FINRA in 2014 and had his CFP and CPA revoked for charges unrelated, is now looking at an emergency SEC asset freeze and a temporary restraining order, according to the aforementioned SEC Documents currently under review by attorneys Alan Rosca and James Booker.

An SEC Complaint also makes mention of Glick Accounting Services, Glick’s business partner David B. Slagter, and Glick’s business acquaintance Edward H. Forte as so-called relief defendants for the purposes of recovering client funds and that Glick allegedly made transfers or paid them with advances or loans, according to SEC Reports.

The court, at the SEC’s request, allegedly issued a temporary restraining order not only against Glick and FMS and also issued an order which would freeze the assets of Glick, FMS, and Glick Accounting Services, SEC Reports note.

The SEC Report also encourages investors to check the background of advisers offering to sell them investments.

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 Daniel Glick’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 Daniel Glick’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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Christopher Cervino & Sheik Kahn— Pump-and-dump Stock Fraud

Christopher Cervino & Sheik F. Kahn Allegedly Took Part in a $15 Million Pump-and-dump Stock Fraud Which Purportedly Involved over 100 Investors; Cervino and Kahn Allegedly Inflated the Market for VGTel, Inc.

Christopher Cervino & Sheik Kahn allegedly orchestrated a $15 million pump-and-dump stock fraud scheme which purportedly involved over 100 investors, according to  a Release from the office of the U.S. Attorney for the Southern District of New York an FBI Affidavit currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to Christopher Cervino & Sheik Kahn’s alleged pump-and-dump stock fraud scheme.

Investors who believe they may have lost money in activity related to Christopher Cervino & Sheik Kahn’s alleged pump-and-dump stock 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.

Christopher Cervino, a broker from Franklin Lakes, New Jersey associated with Primary Capital in New York, and Sheik Kahn, a registered rep from Las Vegas, Nevada, were found guilty by a federal court in New York, said Release states.

Christopher Cervino & Sheik Kahn allegedly made moves to inflate the market for VGTel, Inc., a publicly traded over-the-counter company, according to the aforementioned Release from the office of the U.S. Attorney for the Southern District of New York.

Christopher Cervino & Sheik Kahn allegedly pumped up the price of the stock from about $.25 per share in April of 2012 to as high as about $1.90, said Release notes.

What is more, Christopher Cervino & Sheik Kahn allegedly also took steps to inflate trading volume which improved their ability to raise private investments in the stock, said Release states.

The Peiffer Rosca Wolf securities lawyers are currently investigating Christopher Cervino & Sheik Kahn’s alleged pump-and-dump stock fraud scheme.

Christopher Cervino & Sheik Kahn Barred from the Securities Industry by FINRA for Allegedly Inflating the Market for VGTel, Inc., a Publicly Traded Over-the-counter Company

Christopher Cervino and Sheik Kahn were barred from the securities industry by FINRA for allegedly inflating the market for VGTel, Inc., a publicly-traded over-the-counter company, according to the aforementioned Release from the office of the U.S. Attorney for the Southern District of New York presently being reviewed by attorneys Alan Rosca and James Booker.

Edward Durante, who pleaded guilty in August 2016 to a slate of crimes relating to VGTel, which included conspiracy, securities fraud, money laundering and perjury, allegedly conceived the purportedly fraudulent scheme, said Release notes.

Mr. Durante allegedly contributed two cash payments toward Mr. Cervino which added up to $35,000, plus large commissions Mr. Cervino took for executing trades in VGTel stock, the Release states.

Sheik Kahn, during said transactions, allegedly received over $400,000 from Durante, which included over $100,000 in payments for purportedly liquidating clients’ investments in the form of annuities, said Release notes.

Said proceeds were then allegedly allowed to be invested in VGTel shares and Khan’s clients allegedly lost almost all monies invested in said shares, the Release 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 Christopher Cervino & Sheik Kahn’s alleged pump-and-dump stock 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 Christopher Cervino & Sheik Kahn’s alleged pump-and-dump stock 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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