Articles Posted in Ponzi Schemes

Silver Law Group is investigating Bruce Kane, 60, formerly of Ithaca, New York and currently residing in Fort Lauderdale, FL; Burton Greenberg, 75, of Plantation, Florida; and Senol Taskin, 50, of Ontario, Canada for their alleged involvement in an investment scheme that defrauded investors out of $10 milion. All three…

Quigley and his two brothers are accused of running a fraudulent offering scheme After a 24-year career in the securities industry checkered with allegations of misconduct and unauthorized trading, broker William Quigley has not only been barred permanently by FINRA, he also faces fraud charges brought by the SEC. According…

Williamson Accused of Spending Investors’ Money on Personal Expenses These individuals dedicated their lives to improving the lives of others. Some spent their days teaching in the school system. Some spent their days and nights making neighborhoods safer for the community. And they all believed that when they retired, their…

Tips on how how to be alert so you do not fall victim to an investment scheme. The old adage “don’t believe everything you hear or read” rings true in the case of a recent Securities Exchange Commission (SEC) Investor Alert. This particular alert warns investors about financial professionals that…

The U.S. Securities and Exchange Commission (SEC) has charged Orlando, Florida-based DFRF Enterprises, LLC, its owner, and several of its promoters with operating a $15 million pyramid and Ponzi scheme falsely promising over 1,400 investors in Spanish and Portuguese-speaking communities in Massachusetts, Florida, and elsewhere interests in non-existent gold mines…

A former broker with O.N. Equity Sales Company in Norfolk, Virginia, was permanently barred by FINRA.  Josh Abernathy was barred from association in any manner with any FINRA member for failing to provide information requested by FINRA.  Abernathy was registered with The O.N. Equity Sales Company from February 2013 until…

The U.S. Securities and Exchange Commission (SEC) and the U.S. Attorney’s Office for the Southern District of Florida have each charged Miami-based investment advisor Phil Donnahue Williamson for his alleged role in a $2,000,000 Ponzi scheme that defrauded hundreds of retired public sector workers, including school teachers and law enforcement…

A federal court in Boston has unsealed a civil lawsuit filed earlier this month by the U.S. Securities and Exchange Commission (“SEC”) against a former professional football player and his business partner for allegedly defrauding at least 40 investors out of as much as $14 million, alleging the business partners…

A Federal Judge has denied Pershing LLC’s request to dismiss all claims against it for serving as the clearing firm in Allen Stanford’s multi-billion dollar Ponzi scheme.  According to the Complaint, Pershing allegedly aided the scheme perpetrated through Stanford Group Co. U.S. and the Judge held that “Pershing’s role as…

The Financial Industry Regulatory Authority (FINRA) recently barred former Aegis Capital Corp.(Aegis) broker Malcom Segal (Segal) alleging that Segal may have engaged in unauthorized transfers of funds from customer accounts to an outside business activity (a/k/a “selling away“). Segal was a broker for Aegis from 2011 until July 2014 when he…