Stoltmann Law Offices is interested in speaking to those investors who may have been recommended Premium Point Investments, LP by their investment advisor. The Securities and Exchange Commission (SEC) announced that it has charged the New York-based company with inflating the value of private funds it advised by over $200 million. The SEC also charged…
Stoltmann Law Offices is interested in speaking to those investors who may have suffered losses with Beverly Hills Wealth Management (BHWM) broker Margaret Mulligan Black (aka Margaret Mulligan Scott). Ms. Black recently entered into a cease-and-desist order with the Securities and Exchange Commission (SEC). The cease-and-desist order claims that Black withheld prepaid, unearned advisory fees…
On June 5th, 2018, the Securities and Exchange Commission (SEC) filed a complaint against Essex Capital Corporation and Ralph T. Iannelli. From 2014 until 2017, Essex, and Iannelli, the company’s president and founder, allegedly perpetrated an $80 million, ponzi-type securities fraud scheme. According to the complaint, “Iannelli attracted investments through the sale of promissory notes…
Former Indianapolis, Indiana-based Merrill Lynch advisor Thomas J. Buck is to be sentenced next month after pleading guilty in January to one count of securities fraud. He may face up to 25 years in prison. Buck has agreed to pay a $5 million penalty as part of a separate settlement agreement with the U.S. Securities…
Stoltmann Law Offices is investigating former broker Nicholas Genovese, who was charged by the Securities and Exchange Commission (SEC) with a brazen offering and investment adviser fraud. The SEC alleged that, since 2014, Genovese and his hedge fund, Willow Creek Investments LP raised more than $5.3 million from at least six investors by affirmatively misrepresenting…
According to the Wall Street Journal, the amount of penalties imposed by the SEC, FINRA and the CFTC have plummeted in the first half of 2017 in comparison to the first half of 2016. Regulators are on track for the lowest annual level of fines since at least 2010. Fine amounts have dropped from $1.4…
The U.S. Securities and Exchange Commission (SEC) fined Barclays Plc $97 million for allegations that the bank falsely charged clients for services that were not being performed. Customers were overcharged nearly $50 million because of violations like imposing fees for due diligence that was never performed and collecting excess mutual fund fees by steering clients…
David Humphrey, a former accountant with the U.S. Securities and Exchange Commission (SEC) was accused of illegally trading options while working there. He was employed with the agency for 16 years prior to the illegal trading. The SEC has strict securities trading rules for its employees, as many of them have access to non-public and…
The Securities and Exchange Commission (SEC) is investigating several alternative trading systems. It is looking for the “right balance between a principled regulatory approach and an aggressive and comprehensive enforcement effort,” Daniel Hawke, chief of the SEC’s market abuse unit, stated. The SEC will be focused on regulating “dark pools,” private exchanges or forums not…
Yesterday, the Securities and Exchange Commission (SEC) announced that Morgan Stanley and Citigroup Global agreed to pay more than $2.96 million each to settle charges that they made false and misleading statements about CitiFX Alpha. CitiFix Alpha is a foreign exchange trading program that was sold to Morgan Stanley customers from August 2010 to July…