Straight Talk

The purpose of this blog is to provide education and news that will help clients through the litigation process.

|Comments Off on SEC’s Office of Compliance Inspections and Examinations Identifies Frequent Advisor and Brokerage Firm Shortcomings

On February 7, 2017, the SEC’s Office of Compliance Inspections and Examinations issued a report which is both telling and confirmatory of what the Starr Austen & Miller stock fraud team has seen for many years.

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|Comments Off on Indiana settles with securities firm over agent who ran Ponzi scheme

Attorney Scott Starr, who represented 33 of Schwartz’s victims, told the Kokomo Perspective in 2015 that 71 parties filed claims against the Schwartz estate, seeking more than $36 million.

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|Comments Off on Oil Futures Trader Gets 10 Years For Ponzi Scheme

Texas federal judge on Tuesday sentenced a New York-based oil futures trader to 10 years in prison for orchestrating a Ponzi scheme in relation to his operation commodity pool, which took more than $1.4 million from investors.

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|Comments Off on Securities watchdog bans second broker in alleged Veros Ponzi scheme

Financial industry regulators have permanently barred a local broker alleged to have participated in a Ponzi scheme.

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|Comments Off on U.S. Attorney announces that the Southern District of Indiana has collected 7.7 million dollars in criminal and civil actions in 2016

U.S. Attorney Josh J. Minkler recently announced that his federal office collected for the Southern District of Indiana a total of $7,707,955 in criminal and civil actions in fiscal year 2016

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|Comments Off on New Albany, Indiana Man Arrested on Multiple Counts of Securities Fraud and Theft

New Albany, Indiana Man Arrested on Multiple Counts of Securities Fraud and Theft

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|Comments Off on Whistleblower Tips, Recoveries on the Rise

Statutory enactments by federal financial regulatory and various state enforcement agencies have made it easier, safer and financially enticing for employees and former employees to report corporate wrongdoing.

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|Comments Off on Biz Group Loses Stay Bid In DOL Fiduciary Rule Challenge

A D.C. federal judge on Wednesday denied a renewed request by a financial services industry group to block the U.S. Department of Labor’s rule expanding the definition of a fiduciary for retirement account investment advisers, saying the court had already determined the DOL’s interpretation was reasonable.

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|Comments Off on FINRA Fines Ameriprise For Missing Fraudulent Transfers

Ameriprise Financial Services Inc. agreed Wednesday to pay a fine to settle the Financial Industry Regulatory Authority’s claims it failed to catch and stop a sales assistant who was siphoning cash from his relatives’ accounts, even though the firm had just improved its supervisory systems after a similar failure.

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|Comments Off on DOL Gets First Victory In Fiduciary Rule Challenges

The U.S. Department of Labor’s so-called fiduciary rule for retirement account investment advisers was promulgated after an adequate analysis and within the agency’s authority, a D.C. federal judge ruled Friday, giving the government its first victory in one of many challenges to the new rule.

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