Private Securities Transactions

South Florida Selling Away, Approved and Unapproved Outside Business Activity and Negligent Supervision FINRA Arbitration and Litigation Attorney

Published on: September 1, 2013 | By Russell L. Forkey, P.A.

South Florida Selling Away, Approved, Unapproved Outside Business Activity and Negligent Supervision FINRA Arbitration and Litigation Attorney:

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:

Jorge Bravo, Jr. – “Wrap Around Agreements” – Florida Unregistered Sale of Securities Fraud Litigation and Arbitration Attorney

Published on: July 26, 2013 | By Russell L. Forkey, P.A.

Securities and Exchange Commission v. Jorge Bravo, Jr., Civil Action No. 13-CV-5116 (PGG) (S.D.N.Y., July 23, 2013)

SEC Charges Florida Resident with Unregistered Sales of Securities

Recently, the Securities and Exchange Commission filed settled charges against Florida resident Jorge Bravo, Jr., for unlawful sales of millions of shares of a microcap company to the public without complying with the registration requirements of the Securities Act of 1933.

Preliminary Prospectus (Official Statement) – South Florida Fraudulent and Misleading Offering Document FINRA Arbitration and Litigation Attorney

Published on: July 26, 2013 | By Russell L. Forkey, P.A.

Preliminary Prospectus, Preliminary Offering Document, Preliminary Official Statement – South Florida Fraud, Misrepresentation and Omission FINRA Arbitration and Litigation Attorney:

A preliminary prospectus also known as a “red herring” is the first document released by an underwriter of a new issue to prospective investors. The document offers financial details and other information about the issue but does not contain all of the information that will appear in the final prospectus, and parts of the document may be changed before the final prospectus is issued.

Please keep in mind that the above information is being provided for educational purposes only. Thus, it is not designed to be complete in all material respects. Further, this post 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.

Jeffrey Rubin – South Florida Unsuitable Recommendations and Selling Away FINRA Arbitration and Litigation Attorney

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

Jeffrey Rubin, Registered Representative, Lighthouse Point, Florida:

FINRA Bars Florida Broker for Unsuitable Recommendations and Unapproved Securities Transactions Involving 31 NFL Players

The Financial Industry Regulatory Authority (FINRA) recently announced that it has barred broker Jeffrey Rubin of Lighthouse Point, Florida, from the securities industry for making unsuitable recommendations to his customer, an NFL player, to invest in illiquid, high-risk securities issued in connection with a now-bankrupt casino in Alabama. As a result, the customer lost approximately $3 million. Based on Rubin’s referrals, 30 other NFL players also invested in the casino project and lost approximately $40 million. Rubin also failed to obtain the required approval from his employers to participate in the securities transactions involving the casino.

Henry Everette Walker Jr. – Florida Private Placement Fraud, Misrepresentation and Mismanagement Litigation and Arbitration Attorney

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

Henry Everette Walker Jr. – Registered Principal, Clanton, Alabama:

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:

Thomas Edward Kelly – Florida Selling Away and Unapproved Outside Business Activity Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney

Published on: February 25, 2013 | By Russell L. Forkey, P.A.

Thomas Edward Kelly – Registered Principal, Johnson City, 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:

Thomas Brown Hammond – Florida Theft and Securities Fraud and Misrepresentation FINRA Arbitration and State and Federal Litigation Attorney

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

Thomas Brown Hammond – Registered Representative, Fair Oaks, California:

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:

Brent Robert Bishop – West Palm Beach, Florida Theft, Conversion and

Published on: January 20, 2013 | By Russell L. Forkey, P.A.

Brent Robert Bishop – Registered Principal, Tulsa, Oklahoma:

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:

Francis E. Wilde, Steven E. Woods, Mark A Gelazela and Bruce H. Haglund – Florida Prime Bank or High Yield Investment Fraud FINRA Arbitration and Litigation Attorney

Published on: January 18, 2013 | By Russell L. Forkey, P.A.

Summary Judgment Entered Against Defendants Charged With Defrauding Investors In Fictitious Offerings

The Commission recently announced that on December 17, 2012, the United States District Court for the Central District of California granted the Commission’s motion for summary judgment against all defendants and relief defendants in a civil action arising from two “prime bank” or “high yield” investment schemes that defrauded investors out of more than $11 million. In addition to permanently enjoining Francis E. Wilde, Steven E. Woods, Mark A. Gelazela, Bruce H. Haglund, and entities they control, from violations of the antifraud and other securities law provisions, the judgment also orders the defendants to pay disgorgement and civil penalties and bars Wilde and Haglund from acting as an officer or director of a public company. In addition, a separate judgment issued by the court orders relief defendants IBalance LLC, Maureen Wilde, and Shillelagh Capital Corporation to pay disgorgement of illegally obtained profits.

The Commission’s complaint, filed on February 24, 2011, alleged that Wilde, through his company Matrix Holdings LLC, orchestrated two fraudulent investment schemes. The first scheme began in April 2008 when Wilde obtained a U.S. Treasury bond with a market value of nearly $5 million from an investor by making false and misleading promises of outsized returns from what he claimed was a “private placement program.” Wilde eventually exhausted all of the funds obtained with the investor’s bond and never produced a return for the investor.

Joseph J. Hennessy and Resources Planning Group – South Florida Investment Fund and Private Equity Fraud and Mismanagement FINRA Arbitration and Litigation Attorney

Published on: December 5, 2012 | By Russell L. Forkey, P.A.

SEC Charges Chicago-Based Investment Adviser With Defrauding Investors in Failing Private Equity Fund

The Securities and Exchange Commission recently charged a Chicago-based investment adviser and his firm with defrauding clients and others who were promised returns that would “beat the market” for investing in a private equity fund they managed. What investors didn’t know was the fund was failing and they were being used to raise money to repay promissory notes to earlier investors.

The SEC alleges that Joseph J. Hennessy and Resources Planning Group (RPG) raised more than $1.3 million by misrepresenting the Midwest Opportunity Fund (MOF) as a viable private equity fund that could offer high returns. Hennessy failed to tell investors about the fund’s poor financial condition or that their money was being used to repay MOF promissory notes that he had personally guaranteed. He therefore misappropriated client funds to make payments on the notes and prop up the fund. Hennessy used at least $641,408 to make partial payments to certain note holders, substantially reducing his personal liability on the notes.