A National Securities Arbitration & Investment Fraud Law Firm

Articles Posted in Ponzi Schemes

|

Silver Law Group founder Scott Silver has spoken with multiple Harbor City investors who were allegedly defrauded by the company. In a recent article in Mother Jones, Mr. Silver said that George Santos and other employees should have noticed the red flags. “Any person from the financial services industry, who went to work for a company like Harbor City, should immediately have recognized that Harbor City wasn’t properly registered as a financial services company,” Mr. Silver said. “Even if you didn’t know the company was operating as a fraud or a Ponzi scheme, a sophisticated person affiliated with the company should have known they weren’t licensed to do what they claimed to be doing.”George Santos, the recently elected Latino Republican Representative from New York, continues to make headlines, but not for the right reasons. After a damning report in the New York Times questioning Santos’ claims and credibility, he has begun to speak on it. These reports with apologies about his fabricated background, which includes multiple false and unsubstantiated claims. Continue reading ›

|

James Seijas (James Alan Seijas CRD# 2392901) is a former broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Short Hills, NJ. His former employers include TD Ameritrade, Inc. (CRD#:7870) of Morristown, NJ, Fidelity Brokerage Services LLC (CRD#:7784) of Wayne, NJ, and Barclays Capital Inc. (CRD#:19714) of New York, NY. He has been in the industry since 1997. Seijas worked for Wells Fargo Clearing Services from March of 2013 through March of 2019, when he voluntarily resigned. However, on March 24th, 2020, Wells Fargo filed an amendment to his Uniform Termination Notice For The Security Industry Registration Form, or Form U5. In the amended version, Wells Fargo revealed for the first time that Seijas had been named as a defendant in a lawsuit alleging that he was misrepresenting investments as part of a Ponzi scheme.James Seijas (James Alan Seijas CRD# 2392901) is a former broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Short Hills, NJ. His former employers include TD Ameritrade, Inc. (CRD#:7870) of Morristown, NJ, Fidelity Brokerage Services LLC (CRD#:7784) of Wayne, NJ, and Barclays Capital Inc. (CRD#:19714) of New York, NY. He has been in the industry since 1997. Continue reading ›

|

Shawn Good (Shawn Edward Good CRD# 2022168) is a former registered broker and investment advisor whose last known employer was Morgan Stanley (CRD#: 149777) of Wilmington, NC. His previous employers were Wells Fargo Advisors, LLC (CRD#:19616), also of Wilmington, and Charles Schwab & Co., Inc. (CRD#:5393) of San Francisco, CA. He has been in the industry since 1990. Good has five disclosures on his record, three of which are customer disputes. The first was filed on 4/13/2022, alleging that from August 2019 to February 2022, he misappropriated funds from the customers’ Liquidity Access Line accounts. The clients request damages of $2,275,000.00; this claim is pending. The latest claim was filed on 4/30/2022, with allegations that Good “misappropriated funds by soliciting an outside real estate investment opportunity” from 2015 through 2018. No damages are listed but this claim is also listed as pending.Shawn Good (Shawn Edward Good CRD# 2022168) is a former registered broker and investment advisor whose last known employer was Morgan Stanley (CRD#: 149777) of Wilmington, NC. His previous employers were Wells Fargo Advisors, LLC (CRD#:19616), also of Wilmington, and Charles Schwab & Co., Inc. (CRD#:5393) of San Francisco, CA. He has been in the industry since 1990. Continue reading ›

|

The Massachusetts Securities Division recently levied $1 million in fines against U.S. Data Mining Group (DMG) for allegedly conducting unregistered securities offerings. The Division, in its complaint, alleged that the bitcoin mining company failed to register its stock while fundraising. DMG also failed to notify investors that two of the company’s promoters had previously violated US federal securities laws during their Series A fundraising, which raised nearly $25 million in March of 2021. DMG also failed to register this offering with the state’s Securities Division, even though they raised $3.5 million from Massachusetts residents. DMG knew since at least 12/4/2020 that registrations exemptions for conducting offerings was not an option, according to the regulator. In fact, the company clearly stated this in their promissory notes issued at that time, because of the past histories of some of the promoters, according to the consent order.The Massachusetts Securities Division recently levied $1 million in fines against U.S. Data Mining Group (DMG) for allegedly conducting unregistered securities offerings. The Division, in its complaint, alleged that the bitcoin mining company failed to register its stock while fundraising. DMG also failed to notify investors that two of the company’s promoters had previously violated US federal securities laws during their Series A fundraising, which raised nearly $25 million in March of 2021. Continue reading ›

|

Las Vegas attorney Matthew Beasley was shot by FBI Special Agents who went to his house to interview him regarding his alleged involvement in a $300 million Ponzi scheme. Though shot in the chest and shoulder, Beasley refused to surrender and repeatedly confessed to his involvement in the scheme, Assistant U.S. Attorney Tony Lopez of the District of Nevada said in court. 49-year-old Matthew Wade Beasley was arrested and charged with assaulting a federal officer with a deadly weapon. Beasley made an initial appearance in federal court on March 8, 2022. Allegations in the criminal complaint state that FBI Special Agents went to a home in Las Vegas on March 3, 2022 to interview Beasley for an ongoing investigation. According to a press release from the Department of Justice “When agents knocked on the glass front doors, Beasley appeared with part of his body obscured. After an agent pulled back his suit jacket to show his FBI badge, Beasley then stepped into complete view with a gun pointed at his own head. When agents instructed Beasley to drop the gun, Beasley instead pointed it at the agents in a sweeping motion — causing one or more agents to discharge their firearm and striking Beasley.” An FBI SWAT team “had to forcefully enter the home and bring him out,” Lopez said. Beasley was released from the hospital. His lawyer sought house arrest, but a judge ordered Beasley detained without bond because Lopez said Beasley was a flight risk with significant assets including at least four homes, luxury cars, and an RV.Las Vegas attorney Matthew Beasley was shot by FBI Special Agents who went to his house to interview him regarding his alleged involvement in a $300 million Ponzi scheme.

Though shot in the chest and shoulder, Beasley refused to surrender and repeatedly confessed to his involvement in the scheme, Assistant U.S. Attorney Tony Lopez of the District of Nevada said in court. Continue reading ›

|

NBC 6 in Miami recently published an article about the alleged MJ Capital Funding Ponzi scheme and how to spot Ponzi schemes and other investment fraud. Silver Law Group represents victims of MJ Capital through a class action lawsuit, and routinely represents victims of Ponzi schemes and investment fraud. The article details the experience of Gilmer Bautista, who was looking for a way to earn extra money when someone on social media told him about MJ Capital Funding, which operated out of a Pompano Beach, FL tax office. Batista was told he could earn incredible monthly returns on his principal by investing in MJ’s merchant cash advance business. He eventually handed over $45,000. He hasn’t gotten his money back and now the SEC accuses MJ Capital of operating a Ponzi scheme. In August, 2021 the SEC put out a press release stating that it had filed an “emergency action and obtained a temporary restraining order, an asset freeze, and the appointment of a receiver to stop an alleged Ponzi scheme and misappropriation of investor proceeds perpetrated by Coral Springs, Florida resident Johanna M. Garcia and two entities she controls.”NBC 6 in Miami recently published an article about the alleged MJ Capital Funding Ponzi scheme and how to spot Ponzi schemes and other investment fraud. Silver Law Group represents victims of MJ Capital through a class action lawsuit, and routinely represents victims of Ponzi schemes and investment fraud. Continue reading ›

|

As part of an ongoing investigation into a Ponzi scheme involving five individuals and ten affiliated companies, the Securities and Exchange Commission (SEC) has filed fraud charges in the US District Court for the Northern District of Texas. The court also issued a temporary restraining order against all of the defendants. This includes an order freezing assets of some of the defendants and an order appointing a receiver over the assets of the defendants. The SEC's complaint was filed under seal on December 1st, 2021, and later unsealed. In it, the SEC describes multiple defendants including five individuals that were affiliated with Heartland Group Ventures LLC, Heartland production and Recovery, LLC., and others affiliated with Heartland. The SEC is requesting a jury trial. Silver Law Group represents victims of these types of frauds frequently pursuing claims against the financial advisors, insurance agents and unregistered brokers who sell these investments to small and retail investors.  Unfortunately, there has been a rise in claims against unregistered financial advisors selling unregistered securities which, in many cases, turn out to be Ponzi schemes. As part of an ongoing investigation into a Ponzi scheme involving five individuals and ten affiliated companies, the Securities and Exchange Commission (SEC) has filed fraud charges in the US District Court for the Northern District of Texas. The court also issued a temporary restraining order against all of the defendants. This includes an order freezing assets of some of the defendants and an order appointing a receiver over the assets of the defendants. Continue reading ›

Contact Information
Main Office
11780 W Sample Rd
Coral Springs, FL 33065
Phone: (954) 755-4799Fax: (954) 755-4684
New York Office
229 W 36th St 8th Floor
New York, NY 10018
Phone: (212) 377-5227
Florida Office
4755 Technology Way #205
Boca Raton, FL 33431
Phone: (561) 665-8613
ATTORNEY ADVERTISING

Visit our Florida Securities Whistleblower Website

We serve clients nationwide including, but not limited to, those in the following localities: Atlanta, Baltimore, Boston, Chicago, Dallas–Fort Worth, Denver, Detroit, Houston, Los Angeles, Miami, New York City, Philadelphia, Phoenix, San Bernardino-Riverside, San Diego, San Francisco, Seattle, St. Louis, Tampa–St. Petersburg, and Washington, D.C. View More

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. The contact form sends information by non-encrypted email, which is not secure. Submitting a contact form, sending a text message, making a phone call, or leaving a voicemail does not create an attorney-client relationship.

Copyright © 2023, Silver Law Group
JUSTIA Law Firm Blog Design