Silver Law Group, a national securities and investment fraud law firm that represents Ponzi scheme victims, is investigating Harbor City Capital Corp. and its founder, Melbourne, Florida resident Jonathan P. Maroney (JP Maroney, Jonathan Paul Maroney), for running an alleged Ponzi scheme. Continue reading ›
The Securities and Exchange Commission (SEC) has obtained a temporary restraining order and asset freeze against Melbourne, Florida resident Jonathan P. Maroney, accusing him of running an ongoing Ponzi scheme through his company Harbor City Capital Corp., LLC and other entities. Although characterized as an internet marketing company, Maroney allegedly structured the company to raise money from investors who would profit from Harbor City Capital’s operations placing ads on the internet. In reality, according to the SEC allegations, Maroney used investor money for his own use and benefit and was operating a Ponzi scheme. Continue reading ›
Scott Silver, Silver Law Group’s managing partner, was interviewed for a CNBC article about the GameStop (GME) bull who is behind the Roaring Kitty YouTube streams.
GameStop Surges With Help From Reddit, Social Media Bulls
According to news reports, GameStop stock’s incredible rise in price was helped by social media posts by people like Roaring Kitty and a Reddit user named DeepF***ingValue who posted on the WallStreetBets thread. The posts contributed to large amounts of retail investment money pouring into GameStop stock, which drove up the price and harmed the hedge funds who had shorted the stock. Continue reading ›
On February 4, 2021, the Securities and Exchange Commission (SEC) announced that it charged three people and their affiliated entities with running a “Ponzi-like scheme” that raised more than $1.7 billion by selling private placements issued by alternative asset management firm GPB Capital Holdings. Continue reading ›
Silver Law Group is investigating potential claims on behalf of victims of an alleged fraud perpetrated by Detroit, Michigan-based Viktor Gjonaj. According to a press release from the Securities and Exchange Commission (SEC), Gjonaj “allegedly defraud[ed] members of the Albanian-American community out of approximately $26.4 million, some of which he spent playing the Michigan State Lottery.” Continue reading ›
On December 21, 2020, the Securities and Exchange Commission (SEC) filed a complaint and emergency action against Sanjeev Acharya and his real estate development company Silicon Sage Builders, alleging a $119 million securities offering fraud. Continue reading ›
Dain Stokes (CRD: #2960801) is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Bedford, NH. His previous employers include Edward Jones (CRD#:250) of Manchester, NH, American Express Financial Advisors Inc. (CRD#:6363) and IDS Life Insurance Company (CRD#:6321), both of Minneapolis, MN. He has been in the industry since 1998. Continue reading ›
On September 10, 2020, the Unites States Securities and Exchange Commission (SEC) filed a civil Complaint in U.S. District Court for the District of New Jersey against defendants RRBB Asset Management, LLC and Carl S. Schwartz. According to the “Summary” contained in the SEC’s Complaint, Schwartz engaged in “cherry picking,” the act of disproportionately allocating profitable trades to accounts held by certain clients while allocating less profitable trades to other clients. Continue reading ›
On September 3, 2020, the Unites States Securities and Exchange Commission (SEC) commenced a civil action against Illinois resident Geoffrey Thompson. According to the SEC’s Complaint, from July 2014 through June 2019, an entity founded and controlled by Thompson, Covalent Collective, Inc., offered several different types of investments to approximately 500 investors, raising more than $19 million. Continue reading ›
On July 17, 2020, the Securities and Exchange Commission (SEC), brought fraud charges against David Hu, the co-founder and chief investment officer of International Investment Group (IIG), in Manhattan federal district court. A link to the charges can be found here.
The SEC is charging Hu with running multiple fraudulent schemes to misrepresent the performance and conceal losses in IIG’s Trade Opportunities Fund (TOF). In addition, Hu is alleged to have sold over $60 million in phony trade finance loans to investors, using the proceeds to pay back other customers who made redemption requests for earlier investments. Continue reading ›