Tag Archives: SEC
California Lawyer Charged With Stealing Investor Money
Recently, the Securities and Exchange Commission (SEC) announced several charges against Emilio Francisco, an Orange County, California-based lawyer for his role in a multi-million dollar investment fraud scheme. According to the agency, Francisco conducted a large scale fraud targeting foreign investors through the use of the EB-5 Immigrant Investor Program. In all, the SEC… Read More »
Owners of Day Trading Firm Charged with Defrauding Inexperienced Investors
The Securities and Exchange Commission (SEC) has filed investment fraud charges against Naris Chamroonrat and Adam L. Plumer for their role in creating a scheme that defrauded several hundred investors from all over the globe. According to the agency, the two men operated a fake day trading firm and used it to bilk investors… Read More »
SEC Brings Investment Fraud Charged Against a Miami Beach Firm
In the United States District Court for the Southern District of Florida, the Securities and Exchange Commission (SEC) has brought serious investment fraud charges against Onix Capital LLC and its sole owner and manager Alberto Chang-Rajii. Onix Capital is an asset management company that is based in Miami Beach, Florida. In all, the SEC… Read More »
Renewable Energy Company Defrauded Investors Out of More Than $30 Million
Recently, the Securities and Exchange Commission (SEC) filed a civil complaint against a renewable energy company. The lawsuit, which was filed in the U.S. District Court for Central California, was brought against Patrick S. Carter and his company 808 Renewable Energy Corp. In related lawsuits, the SEC also took legal actions against several co-conspirators,… Read More »
Former Movie Producer Allegedly Defrauds Investors Out of Millions
The Securities and Exchange Commission (SEC) has charged a former movie producer with investment fraud. According to the complaint from the agency, which was recently filed in Southern District of New York, David R. Bergstein bilked investors out of more than $5 million. The SEC alleges that $2.3 million was intentionally misappropriated and another… Read More »
Financial Adviser Overbilled Clients, Stole Assets
On October 27th, 2016, the Securities and Exchange Commision (SEC) filed charges against a California financial adviser named Marc D. Broidy and his investment firm Broidy Wealth Advisors, LLC (BWA). According to the complaint filed by the agency, Broidy and his company took in more than $1.4 million in ill-gotten gains from clients. The… Read More »
The SEC Has Charged UBS Financial Services With the Failure to Adequately Supervise its Sales Staff
The Securities and Exchange Commission (SEC) recently reached a $15 million settlement with the financial services giant UBS. The settlement came in relation to charges that the company failed to adequately educate, train and supervise members of its sales team. As a result of these failures, sales representatives were unable to fairly inform clients… Read More »
Financial Adviser Induced Investments with False Statements, Stole from Client
According to a press release from the Securities and Exchange Commission (SEC), Nicholas M. Mitsakos, a California-based financial adviser, stole more than $800,000 from a client. Using his company Matrix Capital Markets, LLC, Mr. Mitsakos took in more than $2 million from the client before siphoning off 40% of the investment for his own… Read More »
Did Morgan Stanley’s New Sports & Entertainment Division Miss The Point?
Professional athletes often fall victim to unscrupulous financial advisors that take advantage of players’ trust and inexperience in financial matters. Athletes need to be surrounded by trustworthy advisors who will protect their assets, put their interests ahead of the advisor’s interests, keep them away from the wolves, and work with them to create a… Read More »
Securities Fraud Suit Filed against Solazyme, Inc.
On June 29, 2015, the news media announced that a securities fraud class action lawsuit has been filed against Solazyme, Inc. in the U.S. District Court covering the northern district of California. The suit was filed on behalf of investors who held shares in Solazyme between February 27, 2014, and November 5, 2014. This… Read More »
