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Recent Posts in Ponzi Scheme Category

51 results found. Viewing page 1 of 3. Go to page 1 2 3   Next

John Ernst Sanctioned for Ponzi-Laden Woodbridge Note Sales

FINRA fined and suspended former Foresters Equity Services (San Diego, CA) broker John Dale Ernst for engaging in undisclosed and unapproved private securities transactions in soliciting investors to ...
Continue reading "John Ernst Sanctioned for Ponzi-Laden Woodbridge Note Sales" »

JWE Investigating Brokers Who Sold Future Income Payments (FIP) in $300 Million Ponzi Scheme

In the wake of a federal grand jury's indictment of Future Income Payments and its owner Scott A. Kohn of Newport Coast, California for fraud over an alleged Ponzi scheme targeting pensioners and ...
Continue reading "JWE Investigating Brokers Who Sold Future Income Payments (FIP) in $300 Million Ponzi Scheme" »

SEC Joins FINRA in Barring Arrested WF Broker John Schmidt over Elder Fraud

Two months after his arrest for fraud and forgery in an alleged Ponzi scheme targeting "particularly vulnerable" clients, including elderly investors and those with diminished mental ...
Continue reading "SEC Joins FINRA in Barring Arrested WF Broker John Schmidt over Elder Fraud" »

Michael Rappa Barred for $2.7 Million-worth of Woodbridge Ponzi Transactions

FINRA barred Foresters Equity Services (San Diego, CA) broker Michael John Rappa for soliciting investors to purchase promissory notes of Woodbridge Group of Companies and related real estate ...
Continue reading "Michael Rappa Barred for $2.7 Million-worth of Woodbridge Ponzi Transactions" »

Complaint Alleges Shopoff Securities Fraudulently Sold $12.6 Million of Promissory Notes

FINRA's Department of Enforcement alleges that William Anthony "Bill" Shopoff, Stephen Robert Shopoff, and their firm, Shopoff Securities of Irvine, California fraudulently sold nearly ...
Continue reading "Complaint Alleges Shopoff Securities Fraudulently Sold $12.6 Million of Promissory Notes" »

Gary Pevey Barred Over Unauthorized Note Sales in Woodbridge Ponzi Scheme

FINRA barred former Mutual Securities Inc. (Sacramento, CA) broker Gary Lyle Pevey for selling $1.11 million in Woodbridge promissory notes to 15 investors. Woodbridge is the name of the real estate- ...
Continue reading "Gary Pevey Barred Over Unauthorized Note Sales in Woodbridge Ponzi Scheme" »

John Gregory Schmidt Arrested, Accused of Elder Abuse, $1.1 Million Fraud

In a textbook example of red flags and warning signs to watch out for, prosectors charged former Wells Fargo Advisors Financial Network representative John Gregory Schmidt with 128 felony counts, ...
Continue reading "John Gregory Schmidt Arrested, Accused of Elder Abuse, $1.1 Million Fraud" »

SEC's Latest Los Angeles Complaint Charges 11 More in Woodbridge Ponzi Scheme

FINRA-registered brokers Alan Harold New co-owner of Synergy Investment Services and Jeffrey L Wendel, formerly of Center Street Securities and Wendel Investment Network headline a list of 11 ...
Continue reading "SEC's Latest Los Angeles Complaint Charges 11 More in Woodbridge Ponzi Scheme" »

Frank Dietrich Cited for Selling $10.8 Million in Investments in Woodbridge Group of Companies Ponzi Scheme

FINRA barred broker Frank Roland Dietrich for his participation in a massive $1.2 billion Ponzi scheme related to investments in the Woodbridge Group of Companies, disciplining the former Quest ...
Continue reading "Frank Dietrich Cited for Selling $10.8 Million in Investments in Woodbridge Group of Companies Ponzi Scheme" »

HD Vest Investment's Jerry Raines & Donna Barnard Barred in Ongoing Woodbridge Ponzi Scheme Investigation

FINRA barred former HD Vest Investment Services brokers Jerry Davis Raines and Donna Lynn Barnard for failing to cooperate with staff investigating sales of promissory notes related to the Woodbridge ...
Continue reading "HD Vest Investment's Jerry Raines & Donna Barnard Barred in Ongoing Woodbridge Ponzi Scheme Investigation" »

Massive Woodbridge Fraud Grows as 5 Charged With Selling $243 Million of Ponzi Product to 1,600 Investors

The Securities and Exchange Commission charged five salespeople for posing as financial advisers even though they were not registered with the Commission, selling $243 million-worth of Woodbridge ...
Continue reading "Massive Woodbridge Fraud Grows as 5 Charged With Selling $243 Million of Ponzi Product to 1,600 Investors" »

$1.2 Billion Ponzi at Woodbridge Group of Companies More Widespread Than Thought

An InvestmentNews report suggests that the $1.2 billion Ponzi and fraud scheme the SEC in January charged Robert H Shapiro (Sherman Oaks, California, and Aspen, Colorado)'s Woodbridge Group of ...
Continue reading "$1.2 Billion Ponzi at Woodbridge Group of Companies More Widespread Than Thought" »

FBI Arrests Ex-Ameriprise Broker Li Lin Hsu for Fraud, Stealing from Clients

FBI agents arrested former Ameriprise Financial Services representative Li Lin Hsu of Diamond Bar, California and charged her with mail fraud, wire fraud, obstruction of justice, and money laundering. ...
Continue reading "FBI Arrests Ex-Ameriprise Broker Li Lin Hsu for Fraud, Stealing from Clients" »

Brent Lott Fined & Suspended for False Documentation Scheme in Connection with Heinz VA Ponzi

FINRA fined and suspended former LPL Financial (Orem, UT) broker Brent Van Lott for purportedly facilitating a non-registered individual, Steven Heinz, in effecting variable annuities (VA) and mutual ...
Continue reading "Brent Lott Fined & Suspended for False Documentation Scheme in Connection with Heinz VA Ponzi" »

SEC Adds Misappropriation to Sports Advisor Ash Narayan's Fraud Charge in Amended Complaint

After originally charging Ash Narayan of Newport Coast, California and The Ticket Reserve, Inc. in a multi-million dollar fraud scheme targeting prominent sports stars that investigators say resembled ...
Continue reading "SEC Adds Misappropriation to Sports Advisor Ash Narayan's Fraud Charge in Amended Complaint" »

SEC Charges Woodbridge Group of Companies in 'Massive' $1.2 Billion Ponzi Scheme Targeting 8,400 Investors

The SEC formally charged Woodbridge Group of Companies and owner Robert H Shapiro of Sherman Oaks, California and Aspen, Colorado with securities fraud, ordering their assets frozen and alleging the ...
Continue reading "SEC Charges Woodbridge Group of Companies in 'Massive' $1.2 Billion Ponzi Scheme Targeting 8,400 Investors" »

Linked to Dawn Bennett $20 Million Fraud Investigation, FINRA Bars Bradley Mascho for Failing to Cooperate

FINRA barred former Western International Securities broker Bradley Carl Mascho for refusing to cooperate with an investigation into SEC allegations that he aided and abetted DJB Holdings aka ...
Continue reading "Linked to Dawn Bennett $20 Million Fraud Investigation, FINRA Bars Bradley Mascho for Failing to Cooperate" »

Raymond James Fined $2 Million for Failing to Supervise E-mail Communications

FINRA fined Raymond James $2 million after finding that a flawed e-mail review system allowed millions of e-mails to evade adequate review, creating "unreasonable risk" that misconduct by ...
Continue reading "Raymond James Fined $2 Million for Failing to Supervise E-mail Communications" »

NASAA Identifies Notes, Real Estate, Ponzi, Oil and Gas, Affinity Fraud, and Variable Annuities as Biggest Investor Threats

The North American Securities Administrations Association (NASAA) announced the top threats to investors, identifying the most frequent sources of current investor complaints or industry ...
Continue reading "NASAA Identifies Notes, Real Estate, Ponzi, Oil and Gas, Affinity Fraud, and Variable Annuities as Biggest Investor Threats" »

Stephen S. Eubanks Sentenced to Prison, Ordered to Pay Restitution for Wire Fraud Scheme

Former broker Stephen Skeffington Eubanks of Bright Trading, LLC's Las Vegas, Nevada branch received a 30-month prison sentence and $437,609 restitution order after a US District Court found him ...
Continue reading "Stephen S. Eubanks Sentenced to Prison, Ordered to Pay Restitution for Wire Fraud Scheme" »

Tracy Turner's 35th Disclosure is Complaint Alleging $4.1 Million Private Securities Misconduct

Former Colorado Financial Service Corporation (whose branch is located in Carlsbad, California) broker Tracy Rae Turner allegedly participated in unapproved private securities transactions related to ...
Continue reading "Tracy Turner's 35th Disclosure is Complaint Alleging $4.1 Million Private Securities Misconduct" »

Stuart Dickinson Barred, Restitution Ordered for Recommending Customers Purchase the ATM Alliance Ponzi Scheme

FINRA barred former WFG Investments, Inc. broker Stuart Graham Dickinson for failing to conduct adequate due diligence on exchange-traded funds (ETFs) and a private placement securities offering, ...
Continue reading "Stuart Dickinson Barred, Restitution Ordered for Recommending Customers Purchase the ATM Alliance Ponzi Scheme" »

JWE Investigating Ponzi-Like Scheme Involving UDF IV REITs as SEC Issues Wells Notice

With the SEC's recent issuance of a Wells Notice against the troubled Texas real estate investment trust (REIT) known as United Development Funding IV, or UDF IV, combined with NASDAQ's ...
Continue reading "JWE Investigating Ponzi-Like Scheme Involving UDF IV REITs as SEC Issues Wells Notice" »

Non-Traded REITs Failing in Face of Industry, Regulatory Challenges, High Commissions

Industry wide, non-traded real estate investment trust (REIT) sales are falling significantly due to widespread legal and regulatory issues, according to an Investment News report. For instance, sales ...
Continue reading "Non-Traded REITs Failing in Face of Industry, Regulatory Challenges, High Commissions" »

Ex-Wells Fargo Advisor Bradley Smegal Charged with Securities Fraud for Defrauding Clients Out of $5 Million, Making Ponzi Payments

Bradley Thomas Smegal, formerly of Wells Fargo Advisors and barred from the securities industry in 2012 following allegations he engaged in and solicited firm clients for unauthorized outside business ...
Continue reading "Ex-Wells Fargo Advisor Bradley Smegal Charged with Securities Fraud for Defrauding Clients Out of $5 Million, Making Ponzi Payments" »
51 results found. Viewing page 1 of 3. Go to page 1 2 3   Next
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