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SEC Orders Two Texas REITs to Pay $8.2 Million for Misleading Investors About Distribution Payments

Posted on Wednesday, July 18th, 2018 at 6:02 pm    

In July 2018, the Securities and Exchange Commission (SEC) charged two real estate investment (REIT) funds, which are among those in Texas-based United Development Funding (UDF), and four executives and ordered them to pay $8.2 million in fines and payments to investors for failing to disclose that it could not meet its distribution payments. The […]

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Were You a Victim of Former Paulson Investment Company LLC Financial Advisor Ahmed Gheith?

Posted on Wednesday, July 18th, 2018 at 4:17 pm    

Erez Law is interested in speaking with investors who may have suffered losses due to investments with former Paulson Investment Company LLC financial advisor Ahmed Gheith (CRD# 5783951) who is alleged to engage in selling away private investments from his former employer. Gheith was registered with the following brokerage firms during the past few years: […]

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SEC Sanctions Morgan Stanley to $3.6 Penalty for Failure to Protect Against its Personnel Misusing or Misappropriating Funds

Posted on Wednesday, July 18th, 2018 at 5:14 pm    

In June 2018, the Securities and Exchange Commission (SEC) sanctioned Morgan Stanley Smith Barney to pay a $3.6 million penalty for its failure to protect against its personnel misusing or misappropriating funds from client accounts. Morgan Stanley previously repaid the four advisory clients in full plus interest. According to the SEC, Morgan Stanley “failed to […]

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Oppenheimer & Co. Inc. Financial Advisor Paul Colchamiro Has Pending $2 Million Customer Complaint for Excessive and Unauthorized Trades

Posted on Wednesday, July 18th, 2018 at 2:38 pm    

Erez Law is currently investigating Oppenheimer & Co. Inc. financial advisor Paul Colchamiro (CRD# 2039083) regarding excessive and unauthorized trading in customer accounts. Colchamiro has been registered with Oppenheimer & Co. Inc. in Melville, New York since 1998. In March 2017, a former customer of Colchamiro filed a FINRA arbitration alleging, “Suitability, churning, failure to […]

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SEC Charges Five Brokers with Involvement in $102 Million Ponzi Scheme

Posted on Wednesday, July 18th, 2018 at 3:11 pm    

In June 2018, the Securities and Exchange Commission (SEC) filed charges and obtained an asset freeze against Perry Santillo (no CRD available), Christopher Parris (CRD# 4552325), Paul LaRocco (CRD# 1829706), John Piccarreto (CRD# 6276418), and Thomas Brenner (CRD# 1489233) who were involved in a $102 million Ponzi scheme that bilked at least 637 investors throughout […]

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Broker Barred: Former Stifel, Nicolaus & Company, Inc. Financial Advisor Jon Schmidhammer

Posted on Wednesday, July 18th, 2018 at 1:08 pm    

Former Stifel, Nicolaus & Company, Inc. financial advisor Jon Schmidhammer (CRD# 1548931) barred by the Securities and Exchange Commission (SEC) regarding negligence, unsuitable management, unauthorized trading and securities violations related to a penny stock offering. Schmidhammer was registered with Stifel, Nicolaus & Company, Inc. in Dublin, Ohio from 2009 to 2016, before he was terminated […]

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How to Bring a Claim Against Former National Securities Corporation Financial Advisor Mark Kolta for American Realty Capital New York City REIT Losses

Posted on Wednesday, July 18th, 2018 at 12:57 pm    

Did you suffer investment losses with former National Securities Corporation financial advisor Mark Kolta (CRD# 5324620) regarding concentration of investments in American Realty Capital New York City REIT? A REIT is a company, modeled after mutual funds, that owns or finances income-producing real estate and provide investors of all types regular income streams, diversification and […]

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Investigation of Lincoln Financial Advisors Corporation Financial Advisor Philip Moshier

Posted on Wednesday, July 18th, 2018 at 12:45 pm    

Erez Law is currently investigating Lincoln Financial Advisors Corporation financial advisor Philip Moshier (CRD# 853169) regarding unsuitable, highly risky, over-concentrated, and illiquid investments involving a real estate investment trust (REIT). REITs are companies that own, operate or finance income-producing real estate. REITs often trades on major exchanges like other securities and provide investors with a […]

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Raymond James Financial Services, Inc. Financial Advisor George Puliafico Subject of $2 Million Customer Complaint

Posted on Wednesday, July 18th, 2018 at 12:29 pm    

Did you lose money investing with Raymond James Financial Services, Inc. financial advisor George Puliafico (CRD# 1158596)? Puliafico has been registered with Raymond James Financial Services, Inc. in Walpole, Massachusetts since 1999. According to his CRD, Puliafico allegedly sold Master Limited Partnerships (MLPs) and exposed his clients to sector concentration. MLPs are limited partnerships that […]

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Fraud Alert: Former Wells Fargo Financial Advisor John Schmidt

Posted on Wednesday, July 11th, 2018 at 8:37 am    

There are options for customers of former Wells Fargo financial advisor John Schmidt (CRD# 708094) who is accused of unauthorized money movement between clients. Schmidt was registered with Wells Fargo Advisors Financial Network, LLC in Dayton, Ohio from 2006 to November 2017 when he was terminated regarding, “Wells Fargo Advisors Financial Network disaffiliated with Mr. […]

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