Ponzi Scheme

Former Woodbridge Group of Companies CEO Pled Guilty to $1.3 Billion Ponzi Scheme

Posted on Wednesday, October 16th, 2019 at 9:59 am    

In August 2019, Robert Shapiro, the former CEO of Woodbridge Group of Companies, pled guilty to tax evasion and running a $1.3 billion fraud that caused more than 9,000 investors to lose money. The Woodbridge Group of Companies scheme ran from July 2012 until December 2017, when Woodbridge filed for Chapter 11 bankruptcy protection and […]

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Barred Former LPL Financial LLC Broker James Booth Faces 23 Pending Customer Complaints for Alleged Ponzi Scheme

Posted on Tuesday, October 1st, 2019 at 2:21 pm    

Were you the victim of former LPL Financial LLC broker James Booth (CRD# 1906145)? Booth was registered with LPL Financial LLC in Norwalk, Connecticut from February 2018 to June 2019, when he was terminated regarding, “Recently hired independent contractor representative admitted to course of conduct beginning while associated with previous member firm involving the misappropriation […]

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Were You the Victim of the Argyle Coin, LLC Ponzi Scheme?

Posted on Monday, September 16th, 2019 at 8:24 pm    

In May 2019, the Securities and Exchange Commission (SEC) announced it obtained a court order halting an ongoing $30 million Ponzi scheme that targeted more than 300 investors in the U.S. and Canada. The south Florida-based Argyle Coin, LLC, was a purported cryptocurrency business, and its principal Jose Angel Aman is alleged to use investor […]

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Former Securities America, Inc. Broker Hector Sentenced to 13 Years in Prison for Ponzi Scheme

Posted on Tuesday, August 27th, 2019 at 7:32 pm    

In July 2019, former Securities America, Inc. broker Hector May (CRD# 323779) was sentenced to 13 years in prison. May was also ordered to pay $8.4 million in restitution. May is accused of stealing $11.5 million from more than 15 investors in a Ponzi scheme. It is alleged that May induced investors to turn over […]

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Global Credit Recovery Losses with Former Park Avenue Securities Broker John Howley?

Posted on Monday, August 19th, 2019 at 8:05 pm    

Erez Law is currently investigating former Park Avenue Securities broker John Howley (CRD# 2229244) regarding Global Credit Recovery losses. Howley has been registered with Park Avenue Securities in Rumson, New Jersey from 1999 to 2018, when he was terminated regarding, “Violated Firm’s rules by (i) failing to disclose private securities transactions and (ii) referring of […]

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GPB Capital Holdings Faces Class Action Lawsuit For Investor Losses

Posted on Monday, August 12th, 2019 at 2:17 pm    

In August 2019, it was reported that a group of investors GPB Capital Holdings faces a potential class-action lawsuit from disgruntled investors seeking financial information about its funds. The complaint alleges that GPB Capital Holdings breached its fiduciary duty because it has not given its investors annual audited financial statements. GPB Capital Holdings is a […]

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GPB Capital Holdings Business Partner Filed Case Alleging Serious Financial Misconduct

Posted on Wednesday, August 7th, 2019 at 8:10 pm    

In July 2019, it was reported that one of GPB Capital Holdings’ David Rosenberg, a former business partner and chief executive of Prime Automotive Group, filed a case against the firm, alleging serious financial misconduct. The report alleged that GPB Capital Holdings tried to push Rosenberg out after he complained to the Securities and Exchange […]

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GPB Capital Holdings Losses with Former MML Investors Services, LLC Broker Oscar Francis

Posted on Monday, July 29th, 2019 at 2:40 pm    

Former MML Investors Services, LLC broker Oscar Francis (CRD# 5094722) is alleged to recommend unsuitable investments in GPB Capital Holdings. Francis was registered with MML Investors Services, LLC in Ft Lauderdale, Florida from 2008 to 2017, when he was terminated regarding, “Terminated in connection with an investigation into an undisclosed outside business activity, potential selling […]

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Lost Money with Woodbridge Group of Companies?

Posted on Saturday, July 20th, 2019 at 8:33 pm    

In May 2019, the Securities and Exchange Commission (SEC) widened its case against Woodbridge Securities to now include 16 additional unlicensed individuals and financial firms who are charged with selling unregistered securities. The SEC seeks permanent injunction and disgorgement of ill-gotten gains and unspecified civil penalties. According to the SEC, the 16 individuals raised $183 […]

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Were You The Victim of Investment Losses Due to Former MSI Financial Services, Inc. Broker Floyd Powell and the Woodbridge Group of Companies Ponzi Scheme?

Posted on Wednesday, July 17th, 2019 at 8:21 am    

Former MSI Financial Services, Inc. broker Floyd Powell (CRD# 2220029) is alleged to recommend his clients invest in the Woodbridge Group of Companies, now a known Ponzi Scheme. In February 2019, FINRA barred Powell regarding investment losses due to his recommendations in the Woodbridge Group of Companies. Powell was registered with MML Investors Services, LLC […]

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