From having spoken to many victims of securities fraud – the hardest thing for many investor victims is asking for help. More specifically, admitting to anyone that they had been taken advantage of. Many victims express feelings of shock, disbelief, and often times shame for having been, apparently, an easy…
The Financial Industry Regulatory Authority (FINRA) brought and enforcement action against broker Ralph Savoie (Savoie) (FINRA No. 2015046239401) resulting in a bar from the securities industry alleging that Savoie failed to provide FINRA staff with information and documents requested. The failure to provide those documents and information to FINRA resulted…
In parallel actions The Securities and Exchange Commission (SEC) announced fraud charges and filed a complaint against Michael Oppenheim (Oppenheim), a financial advisor formerly with J.P. Morgan Securities LLC (JP Morgan), accusing him of stealing at least $20 million from customers to fund his own brokerage accounts and then spending…
The Securities and Exchange Commission (SEC) has filed a complaint against former FINRA registered broker Levi Lindemann (Lindemann) alleging that from about September 2009, to August 2013, Lindemann, a resident of Minnesota, fraudulently raised at least $976,000 from six investors located in Wisconsin including elderly individuals and a member of…
As previously reported by Gana Weinstein LLP, the Financial Industry Regulatory Authority (FINRA) in an acceptance, waiver, and consent action (AWC) barred broker Eric Johnson (Johnson) concerning allegations that he misappropriated more than $1,000,000 from at least six firm customers’ brokerage accounts. FINRA had also alleged that Johnson falsified the…
How do you know if you have been the victim of securities fraud? The answer to this question usually begins with the feeling that something is not right with your investments. Maybe your broker is all of a sudden dodging your calls or having their subordinate answer their calls. Perhaps…
In 2010, College Health and Investment Ltd (College Health), a family limited partnership, filed a case against Wells Fargo & Co. (Wells Fargo) in Financial Industry Regulatory Authority (FINRA) arbitration. College Health accused Wells Fargo of failing to detect the theft and unauthorized transactions in College Health’s account. College Health…