SEC Enforcement Actions 2015

Edward Jones to Pay 20 Million for Overcharging Retail Customers in Municipal Bond Underwritings – Boca Raton, Florida FINRA Arbitration Attorney

Published on: August 18, 2015 | By Russell L. Forkey, P.A.

Edward Jones to Pay 20 Million for Overcharging Retail Customers in Municipal Bond Underwritings – Boca Raton, Florida FINRA Arbitration Attorney

Edward Jones to Pay $20 Million for Overcharging Retail Customers in Municipal Bond Underwritings

The Securities and Exchange Commission recently announced that St. Louis-based brokerage firm Edward Jones and the former head of its municipal underwriting desk have agreed to settle charges that they overcharged customers in new municipal bonds sales. It’s the SEC’s first case against an underwriter for pricing-related fraud in the primary market for municipal securities. The firm also was charged with separate misconduct related to supervisory failures in its review of certain secondary market municipal bond trades.

Russell Haraburda and EnviraTrends, Inc. – South Florida Unregistered Securities Offering Litigation Attorney

Published on: August 18, 2015 | By Russell L. Forkey, P.A.

South Florida Unregistered and Private Offering Fraud and Misrepresentation Litigation Attorney:

Securities and Exchange Commission v. EnviraTrends, Inc., et al., Civil Action No. 8:15CV1903T27TGW (M.D. Fla., August 17, 2015)

SEC Charges Development Stage Company and Founder in Unregistered Offering Fraud Scheme

ASTA/MAT Fund and the Falcon Fund – South Florida Securities and Investment Fraud and Mismanagement Attorney

Published on: August 17, 2015 | By Russell L. Forkey, P.A.

Citigroup Affiliates to Pay $180 Million to Settle Hedge Fund Fraud Charges Relating to the ASTA/MAT Fund and the Falcon Fund:

The Securities and Exchange Commission recently announced that two Citigroup affiliates have agreed to pay nearly $180 million to settle charges that they defrauded investors in two hedge funds by claiming they were safe, low-risk, and suitable for traditional bond investors. The funds later crumbled and eventually collapsed during the financial crisis.

Citigroup Global Markets Inc. (CGMI) and Citigroup Alternative Investments LLC (CAI) agreed to bear all costs of distributing the $180 million in settlement funds to harmed investors.

Stockbroker and Account Executive Misconduct – Boca Raton, Florida Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney

Published on: July 3, 2015 | By Russell L. Forkey, P.A.

Stockbroker and Account Executive Misconduct – Boca Raton, Florida Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney

Securities and Exchange Commission v. Malcolm Segal, Civil Action No. 15-3668 (E.D. Pa.)

SEC Charges Former Stockbroker with Conducting Ponzi Scheme

Pyramid/Ponzi Scheme – South Florida Fraud and Misrepresentation Litigation and Arbitration Attorney

Published on: July 3, 2015 | By Russell L. Forkey, P.A.

Pyramid/Ponzi Scheme – South Florida Fraud and Misrepresentation Litigation and Arbitration Attorney

Securities and Exchange Commission v. DFRF Enterprises LLC, et al., Civil Action No. 1:15 cv 12857-PBS (United States District Court for the District of Massachusetts)

SEC Halts Pyramid/Ponzi Scheme Targeting Spanish and Portuguese-Speaking Communities

Mark Welhouse and Welhouse & Associates, Inc. – South Florida Improper Trade Allocation and Cherry-Picking FINRA Arbitration and Litigation Attorney

Published on: June 29, 2015 | By Russell L. Forkey, P.A.

Mark Welhouse and Welhouse & Associates, Inc. – South Florida Improper Trade Allocation and Cherry-Picking FINRA Arbitration and Litigation Attorney

SEC Announces Cherry-Picking Charges Against Investment Manager

Case Arises From Enforcement Initiative Analyzing Large Volumes of Investment Advisers’ Trade Allocation Data

Gregory G. Jones and Aquaphex Total Water Solutions – South Florida Oil and Gas Fraud and Misrepresentation Litigation and Arbitration Attorney

Published on: June 13, 2015 | By Russell L. Forkey, P.A.

Gregory G. Jones and Aquaphex Total Water Solutions – South Florida Oil and Gas Fraud and Misrepresentation Litigation and Arbitration Attorney

Securities and Exchange Commission v. Aquaphex Total Water Resources and Gregory Jones, Civil Action No. 4:15-cv-00438-A, (NDTX, filed June 10, 2015)

Texas Lawyer Admits to Conducting Fraudulent Offering

Joshua A. Yudell, Oxford Advisors, Inc., Oxford Capital Advisors, LLC. – Boca Raton, Florida Investment Fraud and Breach of Contract Agreement Litigation and Arbitration Attorney

Published on: June 13, 2015 | By Russell L. Forkey, P.A.

Joshua A. Yudell, Oxford Advisors, Inc., Oxford Capital Advisors, LLC. – Boca Raton, Florida Investment Fraud and Breach of Contract Agreement Litigation and Arbitration Attorney

Securities and Exchange Commission v. Joshua A. Yudell and OCFB LLC, et al., Civil Action No. 1:15-cv-4548 (S.D.N.Y. June 11, 2015)

SEC Charges Individual with Operating an Unregistered Brokerage Business

Pangaea Trading Partners, LLC., Arjent LLC., Arjent Limited, Excalibur Asset Management, LLC – South Florida Brokerage Firm Fraud and Misrepresentation Litigation and Arbitration Attorney

Published on: May 30, 2015 | By Russell L. Forkey, P.A.

Pangaea Trading Partners, LLC., Arjent LLC., Arjent Limited, Excalibur Asset Management, LLC – South Florida, including Boca Raton, Fort Lauderdale and West Palm Beach, Brokerage Firm Fraud and Misrepresentation Litigation and Arbitration Attorney

Securities and Exchange Commission v. Robert P. DePalo, Joshua B. Gladtke, Gregg A. Lerman, Pangaea Trading Partners LLC, Arjent LLC, Arjent Limited, Excalibur Asset Management LLC, Rosemarie DePalo (Relief Defendant), and Allied International Fund, Inc. (Relief Defendant),, Civil Action No. 15-CV-3877 (S.D.N.Y., filed May 20, 2015)

SEC Charges Brokerage Firm Co-Owners with Defrauding Investors

Adam S. Gottbetter – South Florida Securities, Investment and Commercial Litigation Attorney

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

Adam S. Gottbetter – South Florida Securities, Investment and Commercial Litigation Attorney

SEC Charges New York Lawyer and Two Promoters With Market Manipulation

The Securities and Exchange Commission recently announced fraud charges against a securities lawyer who used his New York law office as the headquarters for planning and implementing market manipulation schemes. Also charged were two stock promoters from Canada who assisted him.