South Florida Arbitration & Litigation Lawyer Blog

This is a continuation of the discussion concerning both the typical and unusual types of FINRA enforcement actions that regularly appear on the horizon. 1. Willful Failure to Disclose Material Information on a Form U4: FINRA’s NAC issued a decision in which it found that a registered representative willfully failed to disclose material information on…

Let’s see, if you can guess, how many different types of FINRA enforcements actions typically arise during a quarterly reporting period such as the fourth quarter of 2011. In reviewing the below described summaries, the reader will be amazed as to the stupidity underlying some actions, the negligence and/or fraud perpetrated against the investing public…

January, 2012: Affinity Fraud has a devastating effect not only on the individuals that are defrauded but also affects the core beliefs of the individuals that makeup the targeted group, in this case members of the Church of Jesus Christ of Latter Day Saints. Securities and Exchange Commission v. Kevin J. Wilcox, Jennifer E. Thoennes,…

Securities and Investment Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. The Securities and Exchange Commission periodically announces enforcement actions that have recently been filed by it. Periodically, we review these actions and provide selective information concerning what we feel relate to important issues or matters that have a wide alleged…

Securities and Investment Fraud and Misrepresentation Litigation and FINRA Arbitration Lawyer Russell L. Forkey, Esq. December, 2011: Securities and Exchange Commission v. JBI, Inc., John Bordynuik and Ronald Baldwin, Jr., Civil Action No. 1:12-cv-10012, United States District Court, District of Massachusetts SEC CHARGES COMPANY AND ITS OFFICERS WITH ACCOUNTING FRAUD The Securities and Exchange Commission…

December, 2011: FINRA Fined Merrill Lynch $1 Million for Supervisory Failures That Allowed a Registered Representative to Operate a Ponzi Scheme. The moral to this story is that as an investor, it is important for you to be diligent in all of your dealings with a brokerage firm and its employees no matter how large…

Securities and Investment Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. January, 2012: In the Matter of William Echeverri Recently, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions (Order) against William Echeverri. Echeverri, 40,…

Life Settlement Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. January, 2012: SEC Charges Life Settlements Firm and Three Executives with Disclosure and Accounting Fraud CEO and General Counsel Additionally Charged With Insider Trading The Securities and Exchange Commission recently charged Texas-based financial services firm Life Partners Holdings Inc. and three…

Municipal Bond Fraud and Misrepresentation FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq. January, 2011: Securities and Exchange Commission v. Charles A. Aiken, et al., Civil Action No. CA 5:11-1018, United States District Court, Southern District of West Virginia SEC CHARGES CHARLES A. AIKEN AND AIKEN CONTINENTAL, L.L.C. WITH FRAUD IN THE OFFER AND…

Securities and Investment Fraud FINRA Arbitratrion and Litigation Attorney, Russell L. Forkey, Esq. January, 2012: Securities and Exchange Commission v. Chalmer E. Detling, II, Esq., Civil Action No. 1:11 cv 4565, United States District Court, Northern District of Georgia, Atlanta Division SEC CHARGES ATLANTA-BASED ATTORNEY WITH FRAUD IN THE OFFER AND SALE OF MUNICIPAL BONDS…