Author Archives: Staff
Business Owner from Orlando Pleads Guilty to Criminal Charges in $57 Million Investment Fraud Case
On May 7th, 2024, the United States District Court for the Northern District of Florida announced that Avinash Singh—a 42-year-old man from Orlando, Florida—has entered a guilty plea for two counts of wire fraud and three counts of money laundering. Mr. Singh reportedly played a key role in a $57 million investment fraud scheme… Read More »
Hedge Fund Manager in Georgia Charged With Securities Fraud—Allegedly Falsely Linked NFL Quarterback to Investment Fund
On April 24th, 2024, the Securities and Exchange Commission (SEC) confirmed that Craig Allen—an Atlanta, Georgia based hedge fund manager—is being charged as a part of a multi-million dollar securities fraud case. Investors in several states, including Florida, were affected. Mr. Allen operated The Cheetah Fund L.P. and he falsely touted his fund as… Read More »
Texas Man Indicted in Ponzi Scheme Case, Falsely Touted Connection to NBA
On April 11th, 2024, the Department of Justice (DOJ) announced that Timothy France Johnson—a man from West Texas—has been indicted by a federal grand jury on investment fraud charges. Mr. Johnson is accused of operating a multi-million Ponzi scheme that falsely touted a connection to the National Basketball Association (NBA). In reality, the investment… Read More »
Report: Investment Broker in Florida Who Stole Approximately $3 Million from Investors has Been Arrested
According to a report from WFLA News Channel 8, Joseph Michael Todd—an investment broker from Citrus County—has been arrested after allegedly stealing approximately $3 million from investors. Authorities contend that Mr. Todd used the funds on personal expenses, lavish luxury purchases, gambling, and adult entertainment. Here, our Miami investor rights attorney discusses the allegations… Read More »
OHO Decision: Broker Barred for Churning Customer Accounts (Excessive Trading)
Michael Venturino (CRD No. 5872439) is a previously registered broker. Most recently, he was associated with Spartan Capital Securities in Garden City, New York (2018 to 2023). Mr. Venturino faced a number of different customer complaints for excessive trading (churning). One of the six complaints was filed by a resident of Florida. In March… Read More »
Broker in Florida Barred for FINRA Violations
William Wade Godfrey (CRD #2447660) is a previously registered broker and previously registered investment adviser (RIA). From March of 2021 to January of 2022, Mr. Godfrey worked as a representative for Thrivent Investment Management in Clearwater, Florida. Subsequently, this broker served as a representative of OneAmerica Securities. Recently, William Wade Godfrey was barred by… Read More »
Seventeen Charged By SEC in Cryptocurrency Ponzi Scheme (Florida Investors Affected)
On March 14th, 2024, the Securities and Exchange Commission (SEC) announced securities fraud charges in a massive—$300 million—Ponzi scheme case. The primary company involved in the alleged fraud scheme—CryptoFX LLC of Houston, TX—is accused of targeting investors from the Latino community. In total, the SEC estimates that 40,000 investors have been affected, including many… Read More »
Miami Resident Sentenced to 2.5 Years in Prison in Investment Fraud Case
According to a report from Bloomberg Law News, Jack Connor Ridall, 29, has been sentenced to serve 30 months in prison in a securities fraud case. The United States Attorney’s Office for the Southern District of Florida contends that Mr. Ridall defrauded investors out of nearly $750,000. Mr. Ridall pleaded guilty to a wire… Read More »
SEC Charges CEO in Florida With Making False Statements to Inflate Company Stock Price
On February 27th, 2024, the Securities and Exchange Commission (SEC) announced securities fraud charges against Paul A. Pereira—the former Chief Executive Officer (CEO) of Alfi, Inc., Mr. Pereira allegedly knowingly made false statements on social media that were targeted at investors and designed to raise the company’s stock price. The company is no longer… Read More »
Florida-Based Broker Dealer Cited for Inadequate Supervisory System
SRT Securities LLC (CRD #33725) is a Wellington, Florida based brokerage firm that is licensed to operate in 25 states and U.S. territories. In December of 2023, the Financial Industry Regulatory Authority (FINRA) cited this broker-dealer for regulatory violations. The brokerage firm was fined $30,000 and ordered to revise its supervisory procedures to conform… Read More »
