False and Misleading Sales Material

Taxable Municipal Bond – Bond Investment Fraud, Misrepresentation and Mismanagement FINRA Arbitration and Litigation Attorney

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

Taxable Municipal Bond – South Florida Bond Investment Fraud, Mismanagement and Misrepresentation, FINRA Arbitration and Litigation Attorney:

A taxable municipal bond is a taxable debt obligation of a state or local governmental entity. Taxable municipal bond are issued as private purpose bonds to finance such projects as a sports stadium, as municipal revenue bonds where caps apply or as public purpose bonds where the 10% private use limitation has been exceeded.

A municipal revenue bond is a bond that is issued to finance various types of public work projects like bridges, tunnels or sewer systems and with payments to the bondholders coming directly from the revenues of the project. For example, if a municipal revenue bond is issued to build a bridge, the tolls collected from the motorists using the bridge are committed for paying of the bond. As with all bond issues, it is important to read the indenture establishing the bond for holders of municipal revenue bonds hove no claims on the issuer’s other income or assets unless stated otherwise in the indenture. Consequently, the risk associated with these types of bonds rise and fall with the economic viability of the project.

Ponzi Scheme and Fraudulent Gold Futures Investment Program – Florida Securities and Precious Metals Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney

Published on: July 9, 2013 | By Russell L. Forkey, P.A.

South Florida Securities and Precious Metals FINRA Arbitration and Litigation Attorney:

Securities and Exchange Commission v. John Fowler, Jeffrey Fowler, and Julianne Chalmers, Civil Action No. 8:13-cv-1747-T-17TGW

The Securities and Exchange Commission recently announced that it filed an enforcement action on July 5, 2013 against John Fowler, a convicted felon, Jeffrey Fowler, a former Florida public school teacher, and Julianne Chalmers. The SEC charged John Fowler and Jeffrey Fowler with violations of the antifraud provisions of the federal securities laws. The SEC also charged John Fowler and Julianne Chalmers with registration violations.

Sales Practice Violations – Discretionary Trading Without Authorization, Unauthorized Trading, Unsuitable and Excessive Trading and Churning – South Florida FINRA Arbitration and Litigation Attorney

Published on: July 3, 2013 | By Russell L. Forkey, P.A.

Securities and Exchange Commission Sustains FINRA Disciplinary Action against Registered Representative and Supervisor

The Securities and Exchange Commission has sustained disciplinary action by the Financial Industry Regulatory Authority (“FINRA”) against William J. Murphy and Carl M. Birkelbach, formerly associated with member firm Birkelbach Investment Securities, Inc. In its opinion, the Commission sustained FINRA’s finding of sales practice violations by Murphy, which included discretionary trading without authorization, unauthorized trading, unsuitable and excessive trading, churning, and the creation and distribution of misleading communications. In one customer account at issue, Murphy engaged in excessive options trading that generated over one million dollars in commissions in the span of approximately three-and-half years. The Commission also sustained FINRA’s findings of supervisory violations by Birkelbach for ignoring obvious and repeated red flags with regard to Murphy’s handling of customer accounts. Finally, the Commission has sustained FINRA’s imposition of sanctions: a bar in all capacities and the disgorgement of $585,174.67 for Murphy and bar in all capacities for Birkelbach.

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City of South Miami, Florida – Municipal Bonds – Florida FINRA Arbitration and Litigation Attorney

Published on: May 22, 2013 | By Russell L. Forkey, P.A.

City of South Miami, Florida – Tax Exempt Bond – Florida FINRA Arbitration and State and Federal Court Litigation Attorney:

The Securities and Exchange Commission recently charged the City of South Miami, Fla., with defrauding bond investors about the tax-exempt financing eligibility of a mixed-use retail and parking structure being built in its downtown commercial district.

An SEC investigation found that the city of 11,000 residents located in Miami-Dade County borrowed approximately $12 million in two pooled, conduit bond offerings through the Florida Municipal Loan Council (FMLC). South Miami’s participation in those offerings enabled it to borrow funds at advantageous tax-exempt rates. The city represented that the project was eligible for tax-exempt financing in various documents for the second offering that were relied upon by bond counsel in rendering its tax opinion. However, South Miami failed to disclose that it had actually jeopardized the tax-exempt status of both bond offerings by impermissibly loaning proceeds from the first offering to a private developer and restructuring a lease agreement prior to the second offering.

Fort Lauderdale, Florida False and Misleading Sales Material FINRA Arbitration and Litigation Attorney

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

Hedge Fund Capital Partners, LLC. and Howard Gordon Jahre, Registered Principal, New York, New York:

The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute and enforcement action, firms and licensed individuals have the responsibility to reflect such action of their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.

The monthly disciplinary information is referenced on the site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:

Senior Investors and Senior Designations – South Florida Elder, Senior and Retirement Financial Abuse and Exploitation FINRA Arbitration and Litigation Attorney

Published on: November 18, 2011 | By Russell L. Forkey, P.A.

South Florida Senior, Elder and Retirement Financial Abuse and Exploitation FINRA Arbitration and Litigation Attorney:

The Financial Industry Regulatory Authority (FINRA) is a self-regulatory authority responsible for overseeing the practices of securities broker dealers. For several years, FINRA has focused on firms’ fair dealings with senior investors, as well as investors at or approaching retirement (hereinafter together referred to as senior investors).

In September 2007, FINRA issued Regulatory Notice 07-43, which highlighted certain issues that are common to many senior investors and reminded firms of their obligations in this area. In 2008 and 2010, FINRA joined with other regulators to issue findings and guidance on firms’ practices relative to senior investors. Most recently, in the 2011 Annual Regulatory and Examination Priorities Letter, FINRA reiterated that the protection of vulnerable customers, including senior investors, continues to be a high regulatory priority.

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.

Elder and Senior Investor Alert: Free Meal Seminars – Broker/Dealer Fraud, Mismanagement and Negligent Supervision Florida FINRA Arbitration and Litigation Attorney

Published on: December 18, 2010 | By Russell L. Forkey, P.A.

Elder and Senior Investor Alert: Free Meal Seminars – Broker/Dealer Fraud, Mismanagement and Negligent Supervision Florida FINRA Arbitration and Litigation Attorney

Free Lunch Seminars, Misleading Professional “Senior Specialist” Designations and Abuse Sales Practices:

State securities regulators warn senior investors to be aware that a combination of “free lunch” seminars, misleading professional “senior specialist” designations, and abusive sales practices can create a perfect storm for investment fraud. Remember: there’s no such thing as a free lunch.