SEC Enforcement Actions 2015

Christopher Brogdon – Municipal Bond and Private Placement Offering Fraud

Published on: November 21, 2015 | By Russell L. Forkey, P.A.

Christopher Brogdon – Municipal Bond and Private Placement Offering Fraud. South Florida, including Boca Raton, Fort Lauderdale, West Palm Beach and Miami Litigaiton and Arbitration Attorney.

The Securities and Exchange Commission (SEC) recently announced fraud charges and an emergency asset freeze obtained against an Atlanta-based businessman accused of misusing investor funds raised to purchase and renovate senior living facilities.

The SEC alleges that Christopher F. Brogdon amassed nearly $190 million through dozens of municipal bond and private placement offerings in which investors supposedly earn interest from revenues generated by the nursing home, assisted living facility, or other retirement community project supported by their investment. But Brogdon secretly commingled investor funds instead of using the money to finance the project described to investors in the disclosure documents for each offering. From the commingled accounts, he has diverted investor money to other business ventures and personal expenses.

Jose G. Ramirez Jr. – Boca Raton, Florida Closed-End Mutual Fund Breach of Fiduciary Duty and Unsuitability FINRA Arbitration and Litigation Attorney

Published on: October 11, 2015 | By Russell L. Forkey, P.A.

Jose G. Ramirez Jr. – Boca Raton, Florida Closed-End Mutual Fund Breach of Fiduciary Duty and Unsuitability FINRA Arbitration and Litigation Attorney

Securities and Exchange Commission v. Jose G. Ramirez Jr., Civil Action No. 15-cv-02365 (USDC District of Puerto Rico, filed September 29, 2015)

The Securities and Exchange Commission recently charged Jose G. Ramirez, Jr., a former top broker at UBS Financial Services Incorporated of Puerto Rico (“UBSPR”), who made material misrepresentations and omissions and orchestrated a fraudulent scheme involving the use of credit line proceeds from a UBSPR-affiliated bank to purchase shares in UBSPR affiliated closed-end mutual funds.

William J. Wells and Promitor Capital Management LLC. – Boca Raton, Florida Investment Advisor Fraud and Mismanagement Litigation and Arbitration Attorney

Published on: October 11, 2015 | By Russell L. Forkey, P.A.

William J. Wells and Promitor Capital Management LLC. – Boca Raton, Florida Investment Advisor Fraud and Mismanagement Litigation and Arbitration Attorney

SEC Charges New Jersey Fund Manager With Securities Fraud

The Securities and Exchange Commission recently charged a New Jersey fund manager and his firm with defrauding investors by lying about his credentials, concealing trading losses, and using investor funds to make Ponzi-like payments to other investors.

Boca Raton, Florida Boiler Room Fraud and Misrepresentation Litigation Attorney

Published on: October 10, 2015 | By Russell L. Forkey, P.A.

South Florida, including Boca Raton, Fort Lauderdale and West Palm Beach Boiler Room Fraud and Misrepresentation Litigation Attorney

Securities and Exchange Commission v. Commodore Financial Corp., et al., Civil Action No. 15-CV-01567 (C.D. Cal., filed September 30, 2015)

SEC Charges Orange County Oil and Gas Company, CEO, and Arizona Boiler Room Operator with Defrauding Investors

Briargate Trading LLP and Eric Oscher – Boca Raton, Florida Securities and Investment Fraud Litigation and Arbitration Attorney

Published on: October 10, 2015 | By Russell L. Forkey, P.A.

Briargate Trading LLP and Eric Oscher – Boca Raton, Florida Securities and Investment Fraud Litigation and Arbitration Attorney

SEC Charges Firm and Owner With Manipulative Trading

The Securities and Exchange Commission recently charged a New York-based proprietary trading firm and one of its co-founders with engaging in a manipulative trading strategy known as “spoofing.”

Pyramid Scheme Fraud – South Florida Pyramid Scheme and Investment Fraud and Mismanagement FINRA Arbitration and Litigation Attorney

Published on: October 6, 2015 | By Russell L. Forkey, P.A.

Pyramid Scheme and Other Investment Frauds – South Florida Pyramid Scheme and Investment Fraud and Mismanagement FINRA Arbitration and Litigation Attorney

Securities and Exchange Commission v. Steve Chen, et al., Civil Action No. CV 15-07425 (C.D. Cal., filed September 22, 2015)

Securities and Exchange Commission v. Steve Chen, et al.

Innovative Business Solutions, LLC. and Arthur Jacob – Boca Raton, Florida Investment Adviser Fraud, Mismanagement and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney

Published on: October 6, 2015 | By Russell L. Forkey, P.A.

Innovative Business Solutions, LLC. and Arthur Jacob – Boca Raton, Florida Investment Adviser Fraud, Mismanagement and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney Relating to Among Other Investments, Exchange Traded Funds.

SEC Charges Florida Investment Adviser and His Company With Defrauding Investors

The Securities and Exchange Commission recently announced fraud charges against Florida-based investment adviser Arthur F. Jacob and his company, Innovative Business Solutions LLC, for allegedly deceiving clients over a period of at least five years.

Securities and Investment Advisor Fraud – South Florida Securities Fraud and Mismanagement Litigation Attorney

Published on: September 27, 2015 | By Russell L. Forkey, P.A.

Securities and Investment Advisor Fraud – South Florida Securities Fraud, Breach of Fiduciary Duty and Mismanagement Litigation and Arbitration Attorney

Securities and Exchange Commission v. Jason W. Galanis, Civil Action No. 1:15-cv-07547 (Southern District of New York, Complaint filed Sept. 24, 2015)

SEC Charges Six in Stock Fraud Scheme

iShopNoMarkup.com, Inc. – South Florida Fraudulent Unregistered Offering of Securities FINRA Arbitration and Litigation Attorney

Published on: September 27, 2015 | By Russell L. Forkey, P.A.

iShopNoMarkup.com, Inc. – South Florida Fraudulent Unregistered Offering of Securities – FINRA Arbitration and Litigation Attorney

Securities and Exchange Commission v. iShopNoMarkup.com, Inc., Civil Action No. 04-CV-4057 (E.D.N.Y.)

Court Imposes Over $5 Million in Monetary Relief, an Officer and Director Bar, and Permanent Injunctions Against Former Chairman of a Failed Internet Startup Who Committed Securities Fraud and IIIegally Sold Unregistered Securities

Manny Shulman and David K. Hirschman – Boca Raton, Florida Unregistered Securities Fraud and Misrepresentation Attorney

Published on: September 9, 2015 | By Russell L. Forkey, P.A.

Manny Shulman and David K. Hirschman – Boca Raton, Florida Unregistered Securities Fraud and Misrepresentation Litigation and Arbitration Attorney

Securities and Exchange Commission v. Manny J. Shulman and David K. Hirschman, Civil Action No. 0:15-cv-61861-WJZ (U.S. District Court for the Southern District of Florida, Sept. 3, 2015)

On September 3, 2015, the Securities and Exchange Commission (“Commission”) charged Manny J. Shulman and David K. Hirschman for their involvement in the fraudulent, unregistered sale of securities of Caribbean Pacific Marketing, Inc. (“Caribbean Pacific”), a now-defunct Florida corporation that purported to be a sun-care and skin-care products start-up company. The Commission also charged Shulman for making misstatements and omissions in Caribbean Pacific’s registration statement.