Straight Talk

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

|Comments Off on TD Ameritrade Added To $350M Ponzi Suit Naming Sidley

TD Ameritrade Inc. and Integrity Bank & Trust were added Thursday to a proposed class action against Sidley Austin LLP, Deloitte & Touche LLP and others alleging the firms are liable for aiding an Oregon investment group as it allegedly misled investors in what regulators have called a $350 million Ponzi scheme.

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|Comments Off on Brothers Hit With $2.2M Judgment Over RE Ponzi Scheme

A New Jersey federal judge on Wednesday ordered two brothers to fork over more than $2.2 million in a U.S. Securities and Exchange Commission suit alleging they duped investors out of millions through a sham real estate investment firm as part of a Ponzi scheme.

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|Comments Off on Real Estate Promoter Gets 19 Years For Texas Ponzi Scheme

Real estate investment manager Derek A. Nelson was sentenced to 19 years in prison a day after being convicted of running a $37 million Ponzi scheme through his Capital Mountain Holding Corp.

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|Comments Off on FINRA Charges Lawson Financial With Fraud For Bond Sales

The Financial Industry Regulatory Authority said Thursday that it has slapped brokerage firm Lawson Financial Corp. and its chief executive with a complaint alleging they defrauded investors who purchased millions of dollars in municipal bonds by propping up the borrowers using funds from a deceased customer’s charitable trust.

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|Comments Off on Raymond James To Pay $17M For Money Laundering Flubs

Raymond James Financial Services Inc. and an affiliate agreed on Wednesday to pay $17 million in fines to the Financial Industry Regulatory Authority to settle allegations of widespread failure to institute adequate anti-money laundering controls.

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|Comments Off on MetLife Pays Record $25M FINRA Fine Over Variable Annuities

The Financial Industry Regulatory Authority announced Tuesday that MetLife Securities Inc. has agreed to pay a $20 million fine and $5 million in restitution for misleading customers over variable annuity replacements, the largest FINRA fine related to variable annuities to date.

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|Comments Off on Brokers Indicted For $131M ForceField Investor Fraud

Several registered securities brokers were indicted Tuesday in New York federal court for fraud, kickbacks and other misconduct that allegedly cost investors of efficient lighting products maker ForceField Energy Inc. roughly $131 million.

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|Comments Off on You May Have Rights Under the Indiana Securities Act

In Indiana, companies and individuals offering and selling securities or investment advice must comply with the Indiana Securities Act, Indiana Code § 23-19-1 et seq. (the “Act”). The Indiana Securities Act, and the Indiana case law interpreting the Act, allows private litigants – typically the purchasers of securities or investment advice – to sue for damages.

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|Comments Off on Puerto Rican Bond Losses Result In UBS Paying For Damages

The Financial Industry Regulation Authority Inc has ordered that the UBS Group must pay more than $470,000 to three investors who claimed damages, due their accounts being over saturated with Puerto Rico bonds that plummeted in value.

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|Comments Off on $2.7 Million Dollar Ponzi Scheme Results in Ramifications

Two brothers have been charged by the Securities and Exchange Commission for operating a $2.7 million ponzi scheme, by targeting elderly investors. Daniel Rivera, a New York resident, promised investors they would profit in a Pennsylvania real-estate venture named Robbins Lane.

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