AAA Arbitration

Equity Indexed Annuity – South Florida Insurance and Securities Fraud FINRA Arbitration and Litigation Attorney

Published on: October 16, 2013 | By Russell L. Forkey, P.A.

Equity Indexed Annuity (Elder Abuse) – Fort Lauderdale, Boca Raton, Delray Beach, Lake Worth and West Palm Beach, Florida Insurance (fixed and variable annuity) and Securities Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney:

An Equity Indexed Annuity is an annuity whose interest or other types of earnings, during the accumulation period, are linked to rises in a stock index. Such contracts have a minimum annual return that guarantees principal, so they can offer upside potential and downside protection. They sometimes come with a cap and usually have early withdrawal (surrender) penalties.

Recently, we have seen an increase in the twisting of fixed and variable annuity and other types of insurance products. Twisting is the unethical practice of convincing a customer to trade and insurance product unnecessarily, thereby generating a commission for the broker or salesperson. An example of twisting in the insurance arena arises when an insurance salesperson persuades a policyholder to cancel his or her policy or allow it to lapse, in order to sell the insured a new policy, which would be more costly but which would produce sizable commissions for the salesperson. The damage associated with this unethical practice is particularly devastating to the elderly.

Broker – Dealers (How to Identify One) – Florida Securities and Investment Fraud and Mismanagement FINRA Arbitration and Litigation Attorney

Published on: October 12, 2013 | By Russell L. Forkey, P.A.

Miami, Fort Lauderdale, Boca Raton and West Palm Beach Florida Investment Fraud and Misrepresentation FINRA Arbitration, AAA Arbitration, JAMS Arbitration, State and Federal Court Litigation Attorney, Russell L. Forkey, Esq.

Who can be classified as a “Broker”.

Before considering if you were impacted by broker/dealer fraud, misrepresentation, mismanagement, breach of fiduciary duty or negligence, it is necessary for the reader to understand what constitutes a broker/dealer and what the difference is between the two. Section 3(a)(4)(A) of the Act generally defines a “broker” broadly as any person engaged in the business of effecting transactions in securities for the account of others.

Master Limited Partnership v. Public Limited Partnership – Florida Limited Partnership Federal, State and Arbitration Attorney

Published on: October 6, 2013 | By Russell L. Forkey, P.A.

Master Limited Partnership v. Public Limited Partnership – Florida Limited Partnership – Federal and State Litigation Attorney: Fraud in the Inducement, breach of the partnership agreement, mismanagement of the partnership, self-dealing and fraud in the operation of the partnership.

A limited partnership is a form of legal entity created under the law of a particular state. In Florida, the statute dealing with limited partnerships is Florida Statute Sections 620.1101 through 620.2205. To review a complete copy of this state, please follow the highlighted link:

http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0620/0620PartIContentsIndex.html&StatuteYear=2013&Title=%2D%3E2013%2D%3EChapter%20620%2D%3EPart%20I

Corporation Annual Report (10-K) – Florida Business Practice and Corporate Litigation Attorney

Published on: October 5, 2013 | By Russell L. Forkey, P.A.

Corporate Annual Report (10-K) – Florida Business Practice and Corporate Litigation and Arbitration Attorney:

An “Annual Report” is a record of a corporation’s annual financial condition that is required to be distributed to shareholders under Securities and Exchange Commissions rules and regulations. Included in the report is a description of the company’s operations as well as its certified balance sheet and income statement. The full version of the annual report is called the 10-K. It is available from the company or or on-line at the Edgar Website of the SEC. Other reports issued by a reporting company include forms 10-Q (quarterly reports) and 8-K (material disclosures).

As an investor, these reports provide invaluable information when considering to purchase, hold or sell a security. However, please keep in mind that this information is being provided for educational purposes only. It is not designed to be complete in all material respects. Thus, it should not be relied upon as legal or investment advice. If the reader has any questions concerning this post, you should contact a qualified professional.

EB-5 Visa Program Fraud – Florida EB-5 Fraud and Misrepresentation Litigation and Arbitration Attorney

Published on: October 2, 2013 | By Russell L. Forkey, P.A.

The Securities and Exchange Commission Halts a Texas-Based Scheme Targeting Foreign Investors Seeking U.S. Residency Through EB-5 Visa Program:

The Securities and Exchange Commission recently announced fraud charges against a husband and wife in Texas for stealing funds from foreign investors under the guise of an investment opportunity to create U.S. jobs and a path to U.S. residency.

The SEC alleges that Marco and Bebe Ramirez and three companies they own have fraudulently raised at least $5 million from investors by falsely promising that their money would be invested as part of the EB-5 Immigrant Investor Pilot Program. Through the program, foreign investors can earn conditional visas and eventually green cards by making investments in U.S. economic development projects that will create or preserve a minimum number of jobs for U.S. workers. Instead of investing the money as promised, the Ramirezes routinely diverted investor funds to other undisclosed businesses and for their personal use. In at least one instance, they used new investor funds to make Ponzi-like payments to an existing investor.

Actual Delivery – South Florida Precious Metals Fraud and Misrepresentation Litigation and Arbitration Attorney

Published on: August 27, 2013 | By Russell L. Forkey, P.A.

Florida Precious Metals (Gold, Silver, Platinum, Palladium and Copper) Fraud and Misrepresentation Federal and State Litigation and Arbitration Attorney:

On December 14, 2011, the Commodity Futures Trading Commission (“Commission”) issued in the Federal Register an interpretation regarding the meaning of the term “actual delivery,” as set forth in the Commodity Exchange Act. Recently, the Commission determined to clarify its interpretation, which is reflected in the attached link.

This interpretation is important from the prospective of both sellers and buyers of precious metals using leverage. From a sellers standpoint, failure to comply with the actual delivery provisions, discussed in the interpretation could led to adverse consequences from an enforcement action brought by the Commission or in a civil action brought by a purchaser. CFTC Interpretive Release – Actual Delivery

Cash Basis of Accounting, Accrual Method of Accounting and Modified Cash Basis of Accounting – Florida Breach of Contract, Breach of Fiduciary Duty, Fraud and Accounting Negligence Litigation Attorney

Published on: August 15, 2013 | By Russell L. Forkey, P.A.

Cash Basis of Accounting, Accrual Method of Accounting and Modified Cash Basis: South Florida Accounting Negligence and Breach of Contract Commerical Litigation Attorney, Russell L. Forkey, Esq.

The Cash Basis accounting method recognizes revenues when cash is received and recognizes expenses when cash is paid out. In contrast, the Accrual Method of accounting recognizes revenues when goods or services are sold and recognizes expenses when obligations are incurred. A third method, called Modified Cash Basis uses accrual accounting for long-term assets and is the basis usually referred to when the term cash basis is used.

Please keep in mind that the above information is being provided for educational purposes only. It is not designed to be complete in all material respects. Thus, it should not be relied upon as legal or investment advice. If the reader has any questions concerning the contents of this post, you should contact a qualified professional.

Negotiable Instrument – Florida Uniform Commercial Code Litigation and AAA Arbitration Attorney

Published on: July 11, 2013 | By Russell L. Forkey, P.A.

Negotiable Instrument – South Florida Uniform Commercial Code Litigation and AAA Arbitration Attorney, Russell L. Forkey, Esq.

Each state has adopted its own variation of the Uniform Commercial Code. Florida is no exception. Florida Statute, Section 673.1041 defines a negotiable instrument to an unconditional promise or order to pay a fixed amount of money, with or without interest or other charges described in the promise or order, if it:

(a) Is payable to bearer or to order at the time it is issued or first comes into possession of a holder;

Elder and Senior Financial Abuse Attorney – Common Sense Tip for Seniors to Help Protect Your Nest egg

Published on: December 28, 2010 | By Russell L. Forkey, P.A.

South Florida Elder and Senior Financial Abuse and Breach of Fiduciary Duty Litigation FINRA Arbitration and Litigation Attorney:

The North American Securities Administrators Association, Inc. (NASAA) has issued a post that sets forth 10 general tips to help you protect your nest egg. I have modified this list somewhat based upon issues that I have help seniors deal with over the years.

First the bad news: As an older investor you are a top target for con artists. The files of state securities agencies are filled with tragic examples of senior investors who have been cheated out of savings, windfall insurance payments, and even the equity in their own homes. If the con artist is not associated with a major brokerage firm or other substantial company, it may be difficult to recover your losses. If you are a victim of a con artist, the faster you take action, the higher the probability that you will revocer some or all of your money.

Senior and Elder Abuse -Tackling Investment Swindles of Seniors as a Medical Problem – Florida Financial Elder Abuse Litigation and Arbitration Attorney

Published on: December 27, 2010 | By Russell L. Forkey, P.A.

South Florida Elder and Senior Financial Abuse Litigation and Arbitration Attorney:

TACKLING INVESTMENT SWINDLES OF SENIORS AS A MEDICAL PROBLEM: 24 SECURITIES REGULATORS ACROSS U.S. TO TRAIN DOCTORS TO SPOT & REPORT ELDERLY FINANCIAL VICTIMIZATION

With new medical research showing that more than a third of Americans over the age of 71 having mild cognitive impairment (MCI) or Alzheimer’s disease that make them particularly susceptible to investment swindles and other financial abuse, 24 securities regulators have joined in a major national “Elder Investment Fraud and Financial Exploitation Prevention Program”. The unprecedented effort will educate thousands of U.S. medical professionals about how to spot older Americans who may be particularly vulnerable to investment fraud abuse and then to refer these at-risk patients to state securities regulators and adult services professionals.