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Almost 37,000 consumers are left paying $6.3 million in monthly premiums for insurance plans with Simple Health Plans LLC. The Federal Trade Commission is working on permanently closing the company. However, until a federal judge keeps the company permanently closed, the consumers still need to pay. Simple Health has been shut down since October 31 when it was served a temporary restraining order. The FTC is accusing the health insurance company of running a huge scam that convinced thousands of consumers into thinking they were buying high quality health insurance policies. They were led to believe that the health insurance they were buying would cover things like hospital stays, visits to primary care physicians and specialists, and prescription drugs. In actuality, Simple Health LLC sold their consumers a package of discount plans and limited-benefit hospital coverage that only paid a maximum of $3,200 a year. Simple Health's co-founder Steven J Dorfman and his affiliated companies made more than $150 million since 2013.Almost 37,000 consumers are left paying $6.3 million in monthly premiums for insurance plans with Simple Health Plans LLC. The Federal Trade Commission is working on permanently closing the company. However, until a federal judge keeps the company permanently closed, the consumers still need to pay.

Simple Health has been shut down since October 31 when it was served a temporary restraining order. The FTC is accusing the health insurance company of running a huge scam that convinced thousands of consumers into thinking they were buying high quality health insurance policies. They were led to believe that the health insurance they were buying would cover things like hospital stays, visits to primary care physicians and specialists, and prescription drugs. In actuality, Simple Health LLC sold their consumers a package of discount plans and limited-benefit hospital coverage that only paid a maximum of $3,200 a year. Simple Health’s co-founder Steven J Dorfman and his affiliated companies made more than $150 million since 2013. Continue reading

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On February 26, 2019, the SEC announced charges and an asset freeze against the people behind a South Florida investment scheme. One of the people behind the scheme has a felony conviction, was in prison for 20 years, and is now out on parole. Castleberry Financial Services Group LLC, managed by T. Jonathon Turner and CEO Normal Strell, has allegedly taken approximately $3.6 million from investors over the past year. The SEC filed an emergency action against them in district court, stating that Castleberry lied to its investors, claiming that it had hundreds of millions of dollars of capital invested in various businesses. The company also claimed that it had ties with CNA Financial Corp. and Chubb Group. Castleberry claimed that any investments would be protected and insured by those companies, which the SEC alleges is untrue.On February 26, 2019, the SEC announced charges and an asset freeze against the people behind a South Florida investment scheme. One of the people behind the scheme has a felony conviction, was in prison for 20 years, and is now out on parole.

Castleberry Financial Services Group LLC, managed by T. Jonathon Turner and CEO Normal Strell, has allegedly taken approximately $3.6 million from investors over the past year. The SEC filed an emergency action against them in district court, stating that Castleberry lied to its investors, claiming that it had hundreds of millions of dollars of capital invested in various businesses. The company also claimed that it had ties with CNA Financial Corp. and Chubb Group. Castleberry claimed that any investments would be protected and insured by those companies, which the SEC alleges is untrue. Continue reading

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Dr. Philip Frost, CEO and chairman of Opko Health, has agreed to a proposed settlement with the SEC in a microcap stock manipulation scheme.Back in October, we told you about charges filed by the SEC against Florida businessman Barry Honig in a microcap stock manipulation scheme that netted Honig and his associates $27 million in fraudulent funds.

One of those associates, Dr. Philip Frost, has agreed to a proposed settlement with the SEC in this case. Frost is a biotech billionaire who is CEO and chairman of Opko Health and former chairman of Teva Pharmaceutical Industries Ltd. He was among ten people and ten entities charged in September in relation to the “pump-and-dump” stock scheme. Continue reading

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On November 2, 2018, the FTC put out a press release regarding Simple Health Plans LLC, which announced that, at its request “a federal judge temporarily shut down a Florida-based operation that allegedly collected more than $100 million by preying on Americans in search of health insurance, selling these consumers worthless plans that left tens of thousands of people uninsured.”A complaint filed in federal court against Simple Health and its owner alleged that they falsely led people to believe they were buying comprehensive health insurance, when they were really buying medical discount and limited benefit plans that didn’t qualify as health insurance and didn’t deliver the benefits promised.On November 2, 2018, the FTC put out a press release regarding Simple Health Plans LLC, which announced that, at its request “a federal judge temporarily shut down a Florida-based operation that allegedly collected more than $100 million by preying on Americans in search of health insurance, selling these consumers worthless plans that left tens of thousands of people uninsured.”

A complaint filed in federal court against Simple Health and its owner alleged that they falsely led people to believe they were buying comprehensive health insurance, when they were really buying medical discount and limited benefit plans that didn’t qualify as health insurance and didn’t deliver the benefits promised. Continue reading

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A class action lawsuit has been filed on behalf of investors against Health Insurance Innovations, Inc. (HIIQ), a distributor of health insurance plans. The lawsuit concerns potential violations of state and federal laws by the company and its officers. If you are an investor and have suffered a loss with this company, you may be able to recover some of your losses.A class action lawsuit has been filed on behalf of investors against Health Insurance Innovations, Inc. (HIIQ), a distributor of health insurance plans. The lawsuit concerns potential violations of state and federal laws by the company and its officers.

If you are an investor and have suffered a loss with this company, you may be able to recover some of your losses. Continue reading

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Tomatoes1-300x200Village Farms International, Inc. (VFF), a publicly-traded vertically-integrated greenhouse grower of produce and cannabis, is being investigated by Silver Law Group concerning potential securities laws violations as well as violations by the selling stockbrokers.

If you are an investor and have suffered a loss with this company, you may be able to recover some of your losses.

Already publicly-traded in Canada, Village Farms started trading on the Nasdaq under the symbol “VFF” in February, 2019.

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KushCo Holdings Inc. (KSHB), a publicly-traded company that sells a variety of cannabis-related products, is being investigated by Silver Law Group on behalf investors concerning whether the company and its officers or directors may have violated federal securities laws as well as violations by the selling stockbrokers.KushCo Holdings Inc. (KSHB), a publicly-traded company that sells a variety of cannabis-related products, is being investigated by Silver Law Group on behalf investors concerning whether the company and its officers or directors may have violated federal securities laws as well as violations by the selling stockbrokers.

If you are an investor and have suffered a loss with this company, you may be able to recover some of your losses. Continue reading

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Broker William Crafa and Royal Alliance Associates are the subject of a FINRA claim on behalf of investors regarding the solicitation and recommendation to purchase GPB Capital Holdings private placement securities.Broker William Matthew Crafa and wealth management firm Royal Alliance Associates, Inc are the subject of a FINRA claim on behalf of investors regarding the solicitation and recommendation to purchase GPB Capital Holdings private placement securities.

GPB Capital Holdings, a New York-based “alternative asset investment firm” that invests in car dealerships and trash hauling companies, has been the subject of a tremendous amount of bad news lately. After raising $1.8 billion for its private placement funds over 10 years, in 2018 GPB announced it would stop raising new money to focus on fixing accounting and financial statements for its two largest funds, GPB Automotive Portfolio and GPB Holdings II. Continue reading

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Questions have been raised about financial advisor's due diligence related to GPB Capital Holdings' private pacements and Five Star Carting.GPB Capital Holdings is being investigated by the state of Massachusetts, FINRA, the SEC, the New Jersey Bureau of Securities, and the FBI. If that weren’t enough, the New York City Business Integrity Commission, which oversees the city’s private trash industry, is also investigating the company.

The company says it buys “income-producing private companies” with the money it raises by having financial advisers sell private placements to investors. A private placement is a way to raise funding by selling securities to investors in a private, rather than a public, offering. Private placements involve significant risk, are illiquid, and are not suitable for many investors’ goals. Continue reading

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The FBI is now investigating GBP Capital Holdings. The state of Massachussetts, the SEC, and FINRA are also investigating.In February, we told you about three investigations focused on GPB Capital Holdings. The first is by the state of Massachusetts, with two additional separate investigations by FINRA and the SEC. On Thursday, February 28th, the FBI, accompanied by officials from the New York City Business Integrity Commission, paid an impromptu visit to GPB’s corporate headquarters.

The announcement was made in a letter sent to investors, explaining that “authorities” made an unannounced visit to their offices, and “collected materials.” While the company did not disclose the identity of the “authorities,” an anonymous industry insider disclosed to the press that the visit was from the FBI and the Commission. Continue reading

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