by Broker Fraud | Jan 10, 2019 | Ponzi Scheme
John G. Schmidt appeared to be someone you could really trust to advise you on financial matters. He had 35 years of experience as a registered broker-dealer representative. He had his Financial Industry Regulatory Authority (FINRA) Series 7, 24, 63 and 65 licenses....
by Broker Fraud | May 4, 2018 | Ponzi Scheme
A Ponzi scheme is a deceptive investment maneuver that pays returns to its investors from the money paid by subsequent investors, rather than from profit earned by an organization. Brokers and their firms can be held liable for their actions and their in-actions,...
by Broker Fraud | Jan 17, 2018 | Ponzi Scheme
SEC Files Subpoena Enforcement Action Against 235 Entities Affiliated with Woodbridge Group of Companies, LLC Related to Recent Securities Fraud Investigation and $1.22 Billion Ponzi Scheme The US Securities and Exchange Commission (SEC) filed a subpoena enforcement...
by Broker Fraud | Apr 14, 2017 | Ponzi Scheme
United Development Funding (UDF) and United Mortgage Trust (UMT) are Real Estate Investment Trusts (REIT) based in Texas. A REIT is a company that owns or finances income-producing real estate. REITs provide investors of all types regular income streams,...
by Broker Fraud | Nov 14, 2016 | Ponzi Scheme
Where did the term Ponzi Scheme originate? Charles Ponzi was an Italian con man who in the 1920’s ran an elaborate pyramid investment scheme. As always the case, eventually the scheme collapsed. It was estimated that by the time smoke cleared, he stole...
by Broker Fraud | Aug 31, 2016 | Ponzi Scheme, Securities Fraud
The Securities and Exchange Commission in text book fashion filed an emergency civil action in federal court charging principals in KGTA for participating in fraud. The SEC alleged investors were told that KGTA bought and resold refined fuel products, of which did not...
