Securities Lawyers Blog
Our firm is investigating claims made by The Financial Industry Regulatory Authority (FINRA) against brokers Neal Moon (Moon) and Natalie Fogiel Moon (Fogiel). According to the FINRA complaint, from February 2012 to August 2015, Moon participated in nine private securities transactions and Fogiel, his wife, participated in six private securities transactions in which six customers invested a total of $2.64 million in three different entities. FINRA claimed that Moon and Fogiel failed to provide Waddell and Reed (Waddell), their brokerage firm, with prior written notice of their participation in the private securities transactions.
Among the businesses that Moon and Fogiel are accused of soliciting clients to invest in include BOXX Technologies, NMN BOXX, Total Operating LLC, TO Investments, Hoffbrau Steaks, and CCBRAU, Ltd
The providing of loans or selling of notes and other investments outside of a brokerage firm constitutes impermissible private securities transactions – a practice known in the industry as “selling away”. Often times brokers who engage in this practice use outside businesses in order to market their securities.