Author Archives: Staff
SEC Charges Florida SEC in Illegal Stock Sale Scheme
On December 9th, 2024, the Securities and Exchange Commission (SEC) announced securities fraud charges against Steve A. Smith, Jr. and Xtreme Fighting Championships, Inc. Mr. Smith Jr. is the Chief Executive Officer (CEO) of the company. He reportedly engaged in an illegal stock sale scheme. In total, the SEC alleges that the illegal sale… Read More »
South Florida Woman Sentenced in Nearly $200 Million Ponzi Scheme
On December 3rd, 2024, the United States Department of Justice (DOJ) announced that a South Florida woman has been sentenced for her role in a nearly $200 million Ponzi scheme. Johanna Michely Garcia—the former Chief Executive Officer (CEO) of an investment company called MJ Capital Funding, LLC—has been sentenced to serve 20 years in… Read More »
Broker from Miami Barred, Held Liable for Unsuitable Investment Recommendations
Mark Sam Kolta (CRD #5324620) is a previously registered broker and previously registered investment adviser (RIA). Mr. Kolta is currently listed by the Financial Industry Regulatory Authority (FINRA) as a resident of Miami, Florida. Earlier this year, FINRA’s Office of Hearing Officers (OHO) issued a decision against his broker. Here, our Miami unsuitable investment… Read More »
South Florida Broker Fined, Suspended for FINRA Violations
Christian Eduardo De Berardinis (CRD #4312327) is a registered investment adviser (RIA) and previously registered securities broker. Mr. De Berardinis is a resident of Palm Beach County. From July of 2015 to July of 2023, he was a representative of Morgan Stanley. Mr. De Berardinis voluntarily resigned from the firm in 2023 after allegations… Read More »
Florida Broker Fined, Suspended By FINRA for Improper Use of Discretion in Customer Account
Glenn Allen Donnell (CRD #2239397) is a registered broker. From 1998 to 2020, Mr. Donnell was a representative of Investacorp in Crystal River, Florida. Subsequently, the broker was also associated with Securities America, Inc. and Sigma Financial Corporation—also in Crystal River. Mr. Donnell has been fined and suspended for improperly exercising trading discretion in… Read More »
SEC Charges Florida Resident in $1.6 Million Ponzi Scheme Case
On October 30th, 2024, the Securities and Exchange Commission (SEC) announced that a Florida resident has been charged as part of a $1.6 million Ponzi scheme. The scheme in question was reportedly targeted at the Serbian-American community. Dusan Varga allegedly used his company Pannon Investment Advisors LLC to defraud investors. Within this article, our… Read More »
FINRA Expels North Miami Securities Firm
On August 26th, 2024, the Financial Industry Regulatory Authority (FINRA) announced the expulsion of a Miami-based securities company called Bananafina LLC from the securities industry (FINRA Case #2023077678601). FINRA determined that the firm failed to substantially cooperate with an investigation into its practices in violation of securities industry rules. Here, our Miami securities fraud… Read More »
Florida Broker Fined and Suspended for FINRA Violation
John Rollin Revelle (CRD #5619752) is a previously registered securities broker. Most recently, Mr. Revelle was associated with Merrill Lynch in Daytona Beach Florida (November of 2019 to September of 2022). Recently, the Financial Industry Regulatory Authority (FINRA) fined and suspended Mr. Revelle for violations of securities regulations. Here, our Miami FINRA arbitration attorney… Read More »
SEC Holds Florida Company Liable for Securities Law Violations (Misrepresentation of Technology in Statements to Investors)
On October 15th, 2024, the Securities and Exchange Commission (SEC) announced that a Florida company is being held liable for securities law violations for making material misrepresentations to investors. Destiny Robotics Corp—a Miami-based artificial intelligence (AI) start-up—and its owner Megi Kavtaradze allegedly raised more than $140,000 from investors on fraudulent grounds. Here, our Miami… Read More »
Joint Whistleblowers Awarded $12 Million By SEC
On October 10th, 2024, the Securities and Exchange Commission (SEC) announced a $12 million award to a group of joint whistleblowers. The award will be split among three whistleblowers whose critical information helped the federal agency take enforcement action to stop fraud. Here, our SEC whistleblower rights attorney discusses the joint whistleblower award in… Read More »
