Author Archives: Staff
SEC Adopts New Rule Barring Material Conflicts of Interest in Certain Securitizations
On November 27th, 2023, the Securities and Exchange Commission (SEC) announced the adoption of new regulation barring material conflicts of interest for certain types of securitizations. The rule—called Rule 192—is designed to help protect the interests of investors. In this article, our Miami investment fraud attorney discusses the key things to know about the… Read More »
South Florida Broker Fined, Suspended for Improper Exercising Discretion in Non-Discretionary Customer Trading Account
Gustavo Rodrigo III (CRD #3031284) is an actively registered broker. Currently, Mr. Rodrigo serves as a registered representative of Sutter Securities Incorporated and Boustead Securities, LLC. Recently, this broker was fined $2,500 and served a 10 business day suspension for exercising trading discretion in a customer’s non-discretionary trading account. Here, our Miami securities broker… Read More »
SEC Obtains Final Judgment from Federal Court in Florida Against Former Registered Representative Charged With Unsuitable Investments and Unauthorized Trading
On November 17th, 2023, the Securities and Exchange Commission (SEC) announced that a final judgment has been obtained against Alan Z. Appelbaum (CRD#: 500336). Mr. Appelbaum—who was most recently associated with Aegis Capital Corp in Boca Raton, Florida—was charged with making unsuitable investment recommendations and engaged in unauthorized trading. Here, our Miami unsuitable investments… Read More »
SEC Charges CEOs of Tech Start-Up in Multi-Million Securities Fraud Case (Bitwise)
On November 9th, 2023, the Securities and Exchange Commission (SEC) announced securities fraud charges against Jake Soberal and Irma Olguin, Jr. Mr. Sobreal and Ms. Olguin Jr. are the former co-Chief Executive Officers (CEOs) of a California-based company called Bitwise. The company is now accused of being a $100 million Ponzi scheme. It took… Read More »
SEC Cites Brokerage Firm for Violating Whistleblower Protection Rule
On September 29th, 2023, the Securities and Exchange Commission (SEC) announced that a brokerage-firm has been cited for violating federal whistleblower protection regulations. D.E. Shaw & Co., L.P.— a brokerage firm headquartered in New York City—reportedly required its employees to sign contracts that prohibited them from making protected disclosures to the SEC. Here, our… Read More »
SEC Charges Florida Investment Fraud With Securities Law Violations
On October 2nd, 2023, the Securities and Exchange Commission (SEC) announced securities fraud charges against several Florida-based investment entities, including Pisces Income Fund, LLC and Pisces Income Fund Parallel, LLC. Two individuals—Shannon Westhead and Alec Vagnozzi—were named as the principal operators of the funds. Notably, the securities fraud charges are related to the Par… Read More »
Florida Broker-Dealer Fined, Censured for Inadequate Supervisory System
OCP Capital, LLC (CRD #143381) is a brokerage firm based in Wellington, Florida. The broker-dealer is licensed to operate in both Florida and New York. In 2023, the Financial Industry Regulatory Authority (FINRA) announced that OCP Capital, LLC is facing a censure and a $75,000 fine for its failure to develop and implement an… Read More »
SEC Charges Florida Executive With Defrauding Senior Citizen Investors
On September 29th, 2023, the Securities and Exchange Commission (SEC) announced securities fraud charges against Stephone N. Patton. A convicted felon, Mr. Patton stands accused of using three investment entities that he owned and controlled to defraud senior citizen investors. Here, our Miami elder financial fraud attorney highlights the key factors to know about… Read More »
SEC Charges Man With Running Miami-Based Real Estate Ponzi Scheme Targeted at Chinese-American Investors
On September 29th, 2023, the Securities and Exchange Commission (SEC) announced securities fraud charges against Bin Hao. Mr. Hao owned and controlled Qidian LLC. The SEC alleges that he fraudulently raised more than $10 million from at least 60 different investors. Mr. Hao reportedly targeted Chinese-American investors to carry out a Miami-based real estate… Read More »
Florida Investors Among those Affected By Ponzi Scheme
On September 25th, 2023, the Securities and Exchange Commission (SEC) announced securities fraud charges against Matthew Motil—a podcaster who self-labeled as “The Cash Flow King.” Mr. Motil stands accused of fraudulently raising $11 million from more than 50 different investors, including several investors in Florida. The SEC alleges that Mr. Motil was operating a… Read More »
