|Comments Off on Securities Broker GTS Agrees To Injunction In $13M Suit

Global Transition Solutions Inc. agreed to an injunction Thursday to settle U.S. Securities and Exchange Commission claims that the transition management brokerage bilked customers out of $13 million by coordinating with routing brokers to impose markups on the transactions and splitting the proceeds.

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|Comments Off on Jury Awards $15 Million in Punitive Damages Against MetLife for Ponzi Scheme Involvement

Last year MetLife and one of its subsidiaries were assessed $15 million in punitive damages by a jury for its failure to discover one of its agents was selling unregistered securities along with life insurance policies. The unregistered securities were actually promissory notes which were allegedly invested in a $200 million Ponzi scheme. The plaintiff, Christine Ramirez, claimed that MetLife’s subsidiary New England Life Insurance Company had an agent who was selling her these unregistered securities at the same time he was selling her life insurance.

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|Comments Off on What is the “Fraud-on-the-Market” Doctrine of Securities Fraud?

If you or one of your clients are the victims of securities fraud, contact the securities fraud team at Starr Austen & Miller. Starr Austen & Miller has been representing investors in both individual and class actions since 1982.

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|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 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 Trader Charged $9M Ponzi Scheme Not Singled Out

An Illinois federal judge on Thursday refused to dismiss an indictment against a Chicago trader who has been charged with wire fraud for orchestrating an alleged $9 million Ponzi scheme, ruling that he wasn’t singled out for prosecution while other similarly situated violators were let off the hook.

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|Comments Off on U.S. Takes Down Call-Center Financial Scam

Federal authorities said Thursday they had dismantled a massive call-center scheme perpetrated by individuals in the U.S. and India who bilked thousands of Americans out of hundreds of millions of dollars by posing as Internal Revenue Service and Department of Homeland Security officials.

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