Stoltmann Law Offices is investigating Todd Ficeto, an ex-Beverly Hills stockbroker who surrendered to federal authorities on Thursday. He was facing charges in a scheme to defraud investors in hedge funds, causing $200 million in losses. He was indicted by a federal grand jury in Los Angeles Wednesday on charges alleging conspiracy and multiple counts of securities fraud. Allegedly, between September 2004 and September 2007, Ficeto conspired with German fugitive hedge fund manager Florian Homm and others to make illegal trades to boost the value of otherwise illiquid securities. The trades generated fees for Homm and his Absolute Capital Management Holdings company and inflated the price of the firm’s shares. It was also alleged that Ficeto engaged in unlawful monetary transactions by sending nearly $10 million of illicit proceeds to an account in the Cook Islands and then lied to the Securities and Exchange Commission (SEC) about the account. Ficeto was additionally charged with fraud in connection with a hedge fund called the Hunter Fund, in which Homm’s firm invested and also was used to conceal investments in penny stocks and to manipulate the stock market.
Todd Ficeto was registered with First Investors Corporation, JT Moran & Co., Vanderbilt Securities, Robert Todd Financial Corp, Corporate Securities Group, First American Biltmore Securities, Burnett, Grey & Co., La Jolla Capital Corporation, Smith, Benton & Hughes, Brokers Transaction Services, Birchtree Financial and Hunter World Markets Inc. He is not currently registered with any member firm, and not licensed within the industry, according to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report.
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