by Broker Fraud | Sep 10, 2024 | Ponzi Scheme, Securities Fraud
SEC Charges Adam Brothers, GCZ Global and Triten Financial Group with a $60 Million Ponzi Scheme The U.S. Securities and Exchange Commission halted another alleged Ponzi scheme, this one perpetrated by two brothers who lured investors with the promise of up to a 13.5...
by Broker Fraud | Jun 7, 2024 | Securities Fraud, Securities Litigation
On May 28 the Securities and Exchange Commission (SEC) implemented a newly adopted rule which shortened the standard settlement cycle for most broker-dealer transactions from two business days (T+2) to one business day after the trade date (T+1).1 When the settlement...
by Broker Fraud | May 8, 2024 | Securities Fraud, Securities Litigation
The U.S. Securities and Exchange Commission (SEC) not only has broad authority over all aspects of the securities industry but is also charged with protecting investors.1 One of the ways the SEC does this is by making educational resources available to the investing...
by Broker Fraud | Apr 8, 2024 | Securities Fraud, Securities Litigation
Genesis Global Capital to Pay SEC $21 Million for Violating Securities Laws On March 28 Sam Bankman-Fried, co-founder of the defunct crypto currency exchange FTX was sentenced to 25 years in prison and ordered to pay a $11 billion fine for defrauding FTX users.1 When...
by Broker Fraud | Mar 22, 2024 | FINRA Arbitration, Securities Fraud
FINRA Finds Many Potential Violations in Review of Crypto Asset Communications The Financial Industry Regulatory Authority (FINRA) was formed in July 2007 to regulate brokerage firms doing business with United States investors. FINRA is overseen by the U.S. Securities...
by Broker Fraud | Mar 7, 2024 | Securities Fraud, Securities Litigation
On January 23, Jaime Westenbarger, who founded Forest Hills Financial, a financial services firm based in Ada, Michigan, pleaded guilty in Kent County Circuit Court to embezzling client funds. Westenbarger pleaded guilty to two count of embezzlement over $100,000,...
