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Articles Posted in Investment Fraud

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Seeman Holtz, a Boca Raton-based company, is auctioning 100% of its property and casualty business. Silver Law Group has filed two lawsuits against Seeman Holtz on behalf of investors who were sold unregistered promissory notes in Para Longevity and other offerings. The lawsuits allege that investors were not paid when their notes matured. Investors Are Owed Principal Many Seeman Holtz investors allege they have not received principal back after their promissory notes matured. Investors have been told to wait for the company to recapitalize, which they were told would allow the company to pay investors their principal. Despite these assurances, investors continue to wait. BocaNewsNow.com reported that Seeman Holtz received $4,269,400 in PPP money, and that Marshall Seeman listed his home in Boca Raton for sale for $8,650,000.Seeman Holtz, a Boca Raton-based company, is auctioning 100% of its property and casualty business. Silver Law Group has filed two lawsuits against Seeman Holtz on behalf of investors who were sold unregistered promissory notes in Para Longevity and other offerings. The lawsuits allege that investors were not paid when their notes matured. Continue reading ›

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Silver Law Group represents investors with losses caused by fraud at Miami-area hedge funds. Hedge funds are investment partnerships that are not as regulated or transparent as other types of investments. Hedge funds can invest in a wide variety of products that other investment vehicles cannot, which can provide very high returns in some cases. Investors may also suffer significant losses in hedge funds, and their minimal transparency can make it difficult for investors to evaluate them. Miami Known For Hedge Fund Fraud And Other Schemes Miami, Florida has been the home base for many hedge fund fraudsters and Ponzi schemers. It’s been said that fraud is one of Florida’s biggest industries. Silver Law Group helps investors around the country and overseas in recovering investment losses due to fraud, stockbroker misconduct, and other causes. We have an office in New York, but our main office is in south Florida. Scott Silver, Silver Law Group’s managing partner, is a graduate of the University of Miami Law School.Silver Law Group represents investors with losses caused by fraud at Miami-area hedge funds.

Hedge funds are investment partnerships that are not as regulated or transparent as other types of investments. Hedge funds can invest in a wide variety of products that other investment vehicles cannot, which can provide very high returns in some cases. Investors may also suffer significant losses in hedge funds, and their minimal transparency can make it difficult for investors to evaluate them. Continue reading ›

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Silver Law Group is investigating Rekor Systems, Inc. (REKR) regarding potential claims for investors in the company to recover losses. The investigation concerns potential violations of the federal securities laws. If you have losses from investing in Rekor Systems, Inc. (“REKR") contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. The company’s largest revenue stream comes from a contract for their systems for tracking uninsured motorists. This UVED (uninsured vehicle enforcement diversion) partnership is with the state of Oklahoma. Rekor would identify drivers with their ALPR or “automated license plate readers,” and collect fees on behalf of the state. Despite comments about winning similar contracts with New York, Florida, Texas, and numerous other states, these mandates did not pass, and no new contracts have been signed. Currently, Oklahoma is the only UVED partnership. Two reports indicate that the ambitious figures for Oklahoma discussed by CEO Robert Berman were speculative, at best, and overstated by 96%. A report from Western Edge indicated that the company’s “potential revenue guidance” may be overstated by as much as 80%. Additionally, the Mariner Research Group published a report titled “REKR—Government documents to not support investor expectations.”Silver Law Group is investigating Rekor Systems, Inc. (REKR) regarding potential claims for investors in the company to recover losses. The investigation concerns potential violations of the federal securities laws.

If you have losses from investing in Rekor Systems, Inc. (“REKR”) contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. Continue reading ›

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The SEC today filed a complaint and a request for jury trial involving claims against Knight Nguyen Investments of Katy, Texas, along with: Christopher Lopez, majority owner and “partner” Forrest Jones, investment advisor and “partner” Jayson Lopez, brother of Christopher and “partner” Although Christopher Lopez is not a registered broker, he was previously registered the SEC and the state of Texas for several years. The complaint alleges that Christopher Lopez and Forrest Jones represented themselves and the firm as experts in “low risk alternative investments.” However, the complaint explains, Chris Lopez had no experience with securities prior to founding Knight Nguyen, nor with the so-called “alternative investments.” Additionally, the investments did not meet the firms’ so-called investment “standards.”The SEC today filed a complaint and a request for jury trial involving claims against Knight Nguyen Investments of Katy, Texas, along with:

  • Christopher Lopez, majority owner and “partner”
  • Forrest Jones, investment advisor and “partner”
  • Jayson Lopez, brother of Christopher and “partner”

Continue reading ›

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Silver Law Group and the Law Firm of David Chase have teamed up to file lawsuits on behalf of clients who were directed into fixed and variable annuities sold by Northstar Financial Services (Bermuda). Northstar is now in court-ordered liquidation proceedings after filing for Chapter 15 bankruptcy last year, unable to honor client surrender requests. Claims Filed Against Broker-Dealers Silver Law Group managing partner Scott Silver and David Chase are targeting the U.S.-based brokerage firms and financial management institutions that sold clients on the safety and reliability of Northstar’s fixed and variable rate annuity investment products when the risks were actually much higher due both to a lack of U.S. regulatory safeguards and the company’s history of mismanagement. A FINRA complaint filed April 12, 2021 against one of those brokerages, Truist Investment Service (Sun Trust), seeks damages for lack of due diligence; breach of fiduciary duty, and negligence and negligent misrepresentation, among other violations. The complaint outlines how Sun Trust and one of its brokers assured two retiree clients that their retirement savings, traditionally invested in money markets and CDs, would be equally safe in Northstar Financial Services (Bermuda) annuities while steadily earning a fixed yield.Silver Law Group and the Law Firm of David Chase have teamed up to file lawsuits on behalf of clients who were directed into fixed and variable annuities sold by Northstar Financial Services (Bermuda). Northstar is now in court-ordered liquidation proceedings after filing for Chapter 15 bankruptcy last year, unable to honor client surrender requests. Continue reading ›

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Silver Law Group has filed a lawsuit against Seeman Holtz, a Boca Raton company, on behalf of investors alleging they were sold unregistered securities amongst other allegations. Many of the investors are seniors living in south Florida who invested in Para Longevity promissory notes and other offerings. The lawsuit claims that Seeman Holtz has not paid all investors when the notes matured. Seeman Holtz Alleged To Have Offered Unregistered Securities Seeman Holtz, aka National Senior Insurance, is named for its co-founders Marshal Seeman and Eric Holtz, who manage and control the company. Seeman Holtz is an insurance agency, but is not licensed as a broker-dealer with the state of Florida or federal regulators. Federal and state securities laws make it unlawful for a person to effect securities transactions or attempt to induce the purchase or sale of securities unless that person is registered to do so. State regulatory bodies require registration as well as the Financial Industry Regulatory Authority (FINRA), a regulatory arm of the Securities and Exchange Commission (SEC) in charge of licensing broker-dealers.Silver Law Group has filed a lawsuit against Seeman Holtz, a Boca Raton company, on behalf of investors alleging they were sold unregistered securities amongst other allegations. Many of the investors are seniors living in south Florida who invested in Para Longevity promissory notes and other offerings. The lawsuit claims that Seeman Holtz has not paid all investors when the notes matured. Continue reading ›

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Silver Law Group has filed two FINRA arbitration claims to recover losses on behalf of Northstar Financial Services (Bermuda) investors who were recommended fixed and variable annuities. The arbitrations claims have been filed against the securities brokerage firms who recommended and solicited the Northstar Financial Services (Bermuda) investments to their customers. Northstar is now in court-ordered liquidation proceedings after filing for Chapter 15 bankruptcy last year, and is unable to honor client surrender requests. A FINRA complaint filed April 12, 2021 against one of the securities brokerage firms, Truist Investment Service (formerly known as SunTrust), seeks damages for lack of due diligence, breach of fiduciary duty, negligence and negligent misrepresentation. The complaint alleges that Sun Trust and one of its brokers misrepresented to two retiree clients that their retirement savings, traditionally invested in money markets and CDs, would be equally safe in Northstar Financial Services (Bermuda) annuities while steadily earning a fixed yield.Silver Law Group has filed two FINRA arbitration claims to recover losses on behalf of Northstar Financial Services (Bermuda) investors who were recommended fixed and variable annuities. The arbitration claims have been filed against the securities brokerage firms who recommended and solicited the Northstar Financial Services (Bermuda) investments to their customers. Continue reading ›

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The Securities and Exchange Commission has charged an actor in low-budget movies with running a Ponzi scheme tied to film distribution and licensing agreements that defrauded investors out of over $690 million. Zachary Horwitz, whose screen name is Zach Avery, ran the Ponzi scheme from 2014 to at least December 2019 through his distribution company 1inMM Capital LLC. Silver Law Group is a national securities and investment fraud law firm which represents Ponzi scheme victims in claims against the Ponzi schemer and any third parties who materially participated in the fraud or are otherwise liable under the law. 1inMM Alleged Ponzi Scheme According to the complaint, filed April 5, 2021 in California U.S. District Court, Horwitz and 1inMM issued promissory notes to investors on individual film titles, promising to use the money to purchase distribution rights to a movie, mostly for Latin America, which Horwitz and 1inMM would then sell to outlets like HBO and Netflix at a high profit.  Horwitz sold each note at a per-film principal investment of between $35,000 and $1.5 million, often promising investors a six-to-twelve-month maturity and a 35% to 45% return. One investor, out nearly $9 million, invested in 108 movies with corresponding promissory notes, the SEC complaint says. As a sometimes-film actor, Horwitz sold investors on his film industry experience and connections. The Securities and Exchange Commission has charged an actor in low-budget movies with running a Ponzi scheme tied to film distribution and licensing agreements that defrauded investors out of over $690 million. Zachary Horwitz, whose screen name is Zach Avery, ran the Ponzi scheme from 2014 to at least December 2019 through his distribution company 1inMM Capital LLC. Continue reading ›

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On April 5, 2021, the United States Securities and Exchange Commission (SEC) filed a Complaint against Zachary Horwitz and 1inMM Capital arising from an alleged “offering fraud and Ponzi scheme in violation of federal securities laws.” Among other things, the SEC alleged Horowitz and 1inMM “raised over $690 million from investors by selling promissory notes . . . using fabricated agreements and fake emails with prominent third parties with whom Defendants had no actual business relationship.” The SEC was able to obtain an asset freeze and emergency relief, but investors are now struggling to figure out whether they will receive any meaningful portion of their investments back. Los Angeles-Based Actor Zachary Horwitz Was Alleged Mastermind Of The Ponzi Scheme According to the SEC’s Complaint, Horwitz raised money from investors in the form of promissory notes issued by his company, 1inMM Capital. Regarding the promissory notes, the SEC alleged: Horwitz and 1inMM “represented that 1inMM would use the proceeds from each Promissory Note to finance transactions in which Defendants would: (1) acquire distribution rights in a specific movie; (2) license those rights to a specific media company; and (3) use the profits from these transactions to satisfy the note.” “Horwitz represented to investors that he and 1inMM would profit from these transactions by selling the movie rights to HBO or Netflix at a profit in excess of the profits paid to investors, and that Horwitz and 1inMM would retain this excess.”On April 5, 2021, the United States Securities and Exchange Commission (SEC) filed a Complaint against Zachary Horwitz and 1inMM Capital arising from an alleged “offering fraud and Ponzi scheme in violation of federal securities laws.” Among other things, the SEC alleged Horowitz and 1inMM “raised over $690 million from investors by selling promissory notes . . . using fabricated agreements and fake emails with prominent third parties with whom Defendants had no actual business relationship.” Continue reading ›

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On February 4, 2021, the SEC charged GPB Capital Holdings, its officials, and other affiliated entities with making material misrepresentations, violating whistleblower laws, and defrauding over 17,000 investors in a $1.7 billion Ponzi-like scheme. In the complaint, the SEC alleges that David Gentile, GPB Capital’s owner and CEO, and Jeffry Schneider, owner of a GPB affiliate called Ascendant Capital, falsely told investors that an 8% annualized distribution payment came exclusively from monies generated by the company’s portfolio companies. In reality, the distribution came from new investor contributions. The SEC also charged Jeffrey Lash, another GPB exec, with manipulating financial statements to further the Ponzi scheme and allege that GPB violated whistleblower laws by including language in its contracts that impeded potential whistleblowers and retaliated against a known whistleblower.On February 4, 2021, the SEC charged GPB Capital Holdings, its officials, and other affiliated entities with making material misrepresentations, violating whistleblower laws, and defrauding over 17,000 investors in a $1.7 billion Ponzi-like scheme. Continue reading ›

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