South Florida Arbitration & Litigation Lawyer Blog

November, 2011: Foregin Currency Scheme: The Oregon Department of Consumer and Business Services recently issued a cease-and-desist order and assessed $300,000 in penalties against a Portland man for operating a scheme involving foreign currency. Richard Wielenbeck solicited investors via his website, www.forex-24-7.com, to participate in a foreign exchange market profit sharing program (“forex program”). In…

June, 2011: Securities Fraud – Fictitious Investments: The Oregon Department of Consumer and Business Services issued a cease-and-desist order and fined AXA Advisors LLC $75,000 for failing to supervise its former registered representative, Jacqueline Atkinson of Bend. As part of the order, AXA agreed to compensate clients that Atkinson defrauded of more than $1.9 million…

November, 2011: Senior Citizen Alert – Private Placements and/or Direct Investments: If you are the sibling, child, grandchild, friend or professional for a senior citizen, please pay particular attention to the following post. The Oregon Department of Consumer and Business Services recently entered into a consent order with LPL Financial and fined the company $100,000…

Florida and Federal Securities and Investment Fraud 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…

Unregistered Securities Fraud and Misrepresentation Litigation and FINRA Arbitration Lawyer, Russell L. Forkey, Esq. November, 2011: SEC v. Myron Weiner, Civil Action No. 11-CV-5731 (E.D.N.Y.) (DLI)(RER) SEC Charges Myron Weiner with Unregistered Sales of Spongetech Delivery Systems, Inc. Stock The Securities and Exchange Commission (SEC) filed a civil injunctive action against Myron Weiner, relating to…

Investment Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. November, 2011: Securities and Exchange Commission v. Garfield Taylor, Inc., et al., Case No. 1:11CV02054 (D.D.C.) SEC CHARGES PERPETRATOR OF WASHINGTON-AREA PONZI SCHEME Recently, the Securities and Exchange Commission (SEC) charged a Bethesda, Md. man and several family members and friends with…

Investment and Fraud Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. November, 2011: SEC v. Brian Hollnagel and BCI Aircraft leasing, Inc., Civil Action No. 1:07-cv-4538 (N.D. Ill.) (Bucklo, J.) FORMER BROKER PLEADS GUILTY TO OBSTRUCTION OF JUSTICE IN CONNECTION WITH TWO SEC EXAMINATIONS The Securities and Exchange Commission (“Commission”) recently announced that Robert…

Investment Advisor Fraud and Mismanagement Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. November, 2011: Securities and Exchange Commission v. Patrick G. Rooney and Solaris Management, LLC, Case No. 1:11-cv-08264 (N.D. IL) SEC CHARGES ILLINOIS-BASED HEDGE FUND ADVISER AND ITS OWNER FOR FRAUDULENT CONDUCT The Securities and Exchange Commission (SEC) recently announced that it…

November, 2011: As part of the continued fallout relative to the Madoff fraud, the Securities and Exchange Commission (SEC) charged a longtime Bernie Madoff employee with fraud for his role in creating fake trades to facilitate the massive Ponzi scheme. The SEC alleges that David Kugel, who worked at Bernard L. Madoff Investment Securities LLC…

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…