Randell E. Morrison of Fort Wayne has been charged with seven counts of securities fraud and one count of corrupt business influence for his alleged role in cheating investors out of $800,000 between 2005 and mid-2010, according to a September 16 The News-Sentinel article. The charges come on the heels of a cease-and-desist order against …
Tricks of the Trade: Outsmarting Investment Fraud Now Airing Nationwide
A new, hour-long public television documentary entitled Tricks of the Trade: Outsmarting Investment Fraud focuses on teaching investors how to avoid investment fraud. According to an article by The Augusta Chronicle, the program focuses on showing investors how criminals think and highlights the psychological tricks often used by con artists to manipulate and defraud investors. …
The Enrique F. Villalba, Jr. Case: Follow the Timeline
News broke this week when Ohio investment advisor, Enrique F. Villalba, was sentenced to eight years in prison. His investment scheme involved 27 investors and $30.4 million. You can read more about Mr. Villalba’s sentencing in our article, Villalba Sentenced to Jail Today; Law Firm Continues Investigation.At the law firm of David P. Meyer & Associates, we …
Investment Scheme Involving $30 Million Leads to Indictment of Two
A man and a woman were indicted on September 23, 2010, for their alleged involvement in an investment scam involving $30 million. The pair has been accused of misusing $12 million of $30 million they raised from approximately 70 investors in the apparent Ponzi scheme. According to Patrick J. Fitzgerald, United States Attorney for the Northern …
David P. Meyer Listed in the Best Lawyers in America (2011)
Meyer Wilson LPA is proud to announce that the firm’s founding member, Investment Fraud Attorney David P. Meyer, is listed in the 2011 edition of The Best Lawyers in America®.Published since 1983, The Best Lawyers in America is widely regarded as the preeminent referral guide to the legal profession in the United States. The Best Lawyers lists, representing 78 specialties …
What Is Being Done to Protect Senior Investors?
A large percentage of the population has reached the “golden years.” However, instead of enjoying their retirement, many have been forced back into the workplace due to dwindling investments. It is estimated that total retirement assets have decreased by approximately 25 percent in the past two years, leaving much of the older population without the …
Finra Proposes to Prohibit Non-regulated Custodians
In order to more effectively detect investment fraud, FINRA recently proposed a rule to prohibit the use of non-FINRA-regulated institutions as custodians, according to an August 9 Wall Street Journal article.A custodian is a financial institution that is responsible for safeguarding an individual or institutional investor’s financial assets (i.e. stocks, bonds, mutual funds, and currency).The proposed …
As Concerns for the Environment Grow, Beware of “Green” Investment Schemes
The movement to “go green” has grown increasingly popular over recent years. Now, with more Americans than ever concerned about global climate change and local environmental disasters (like the BP Oil Spill), many investors are looking to invest in environmentally friendly technologies and “green” companies. Unfortunately, this push for “green” investments means increased opportunity for …
Unregulated Structured Notes Could Be the Next Investment Bubble
The collapse of the mortgage-backed securities market still has many investors feeling uneasy and reeling from their losses. The same man who predicted that collapse, Christopher Whalen, managing director of Institutional Risk Analytics, has warned about another potential “investment bubble.” According to Mr. Whalen, who is a former Federal Reserve Bank of New York official, …
State of Ohio Teams Up With New York in Securities Fraud Lawsuit Against BP
New York and Ohio have teamed up as co-plaintiffs in a $200 million securities fraud, class-action lawsuit against oil giant BP for losses experienced by state pension and retirement funds in the aftermath of the Gulf oil spill, according to a July 21 article published by The Business Review. Court papers were filed recently in …
Sec Approves FINRA Rule Change Expanding Arbitrator Selection Lists
The Securities and Exchange Commission (SEC) recently approved the proposed changes to the Financial Industry Regulatory Authority (FINRA) rules to increase the number of arbitrators on each list generated by the Neutral List Selection System. As discussed in more detail in our previous post, FINRA Proposed Rule Change Would Expand Arbitrator Selection Lists, the amendments to FINRA rules …
Real Estate Investment Scheme Costs Investors $1.6 Million
According to Santa Clara prosecutors, a San Jose man has pleaded guilty to operating a real estate investment scheme that ended up costing investors approximately $1.6 million. On Thursday, July 1, 2010, 34-year-old Reyes Alcaraz pleaded guilty to nine felony counts. The charges included grand theft and money laundering.According to the District Attorney’s office, Mr. Alcaraz ran …
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