Law.com published an article regarding Silver Law Group’s racketeering lawsuit against Tallahassee, Florida attorney and investment fund manager Phillip Timothy Howard.
The article is titled “Embattled Florida Attorney Took Ex-FSU Professor’s Life Savings, Lawsuit Claims”.
The lawsuit, filed on November 12, 2019 in the Northern District of Florida, claims that Phillip Timothy Howard (Tim Howard) defrauded our client of more than $500,000 as part of a real estate fraud scheme. Scott Silver, managing partner of Silver Law Group, and co-counsel Aaron Cohn of Weinberg, Wheeler, Hudgins, Gunn & Dial represent the client.
At issue are alleged false statements made by Howard and his business partner Gail Milon to our client, a retired Florida State University professor, to get her to lend them money for a real estate project. It’s alleged that Howard was no longer involved in the real estate deal and actually used the money for other fraudulent endeavors. Howard promised to return the money, but never did.
The suit alleges 1. Violation of the federal civil Racketeer Influenced and Corrupt Organizations Act (RICO). 2. Fraud in the inducement. 3. Breach of fiduciary duty. 4. Negligent misrepresentation, and 5. Unjust enrichment.
A FINRA arbitration claim has also been brought against Milon.
Tim Howard’s Other Alleged Fraud
Tim Howard is facing scrutiny for his role in Cambridge Capital Group, Cambridge Capital Partners, Cambridge Capital Advisors, and other companies with “Cambridge” in the name.
Howard is the defendant in a connected lawsuit brought by the SEC, which alleges Howard was part of a fraudulent investment scam against former NFL players. The SEC alleges that Howard and his associates promised to advance funds to plaintiffs in the NFL concussion class action.
To get the advancement, NFL players had to invest their retirement savings with his Cambridge investment fund. Howard then allegedly gave that money to other investors, which is characteristic of a Ponzi scheme. One of Howard’s NFL clients has already sued him.
The SEC’s complaint accuses Howard of misrepresenting how money from a settlement would be used and claims that Howard comingled our client’s money with the NFL retirement fund.
Scott Silver is quoted in the Law.com article: “We believe that Howard used (our client’s) money to pay back some of the earlier complaining investors in the Ponzi-scheme fashion. As things went from bad to worse for him, it appears that he took money from mom-and-pop investors from the Tallahassee community, only to continue to buy himself out of bigger problems.”
Also, Tim Howard and his law firm, Howard & Associates, P.A., are being sued by another Florida lawyer for alleged fraud involving fees for a group of tobacco cases. Howard was the subject of multiple Florida Bar Complaints for that. A Palm Beach County judge recently placed some of Howard’s fees for the tobacco cases in trust because Howard allegedly defaulted on a loan which the fees were pledged as collateral.
Scott Silver warned of the dangers of professionals such as lawyers and accountants giving investment advice: “We’re seeing more and more cases of professionals getting themselves in trouble when they’re wearing multiple hats. Lawyers should not be acting as financial advisers to their clients.”
Silver Law Group Is Investigating Other Claims Against Tim Howard
Silver Law Group is investigating claims against Tim Howard and his “Cambridge” companies and attempting to recover losses for investors.
If you or someone you know lost money with Phillip Timothy Howard or his companies, please contact the Silver Law Group toll free at (800) 975-4345 or e-mail email@example.com for a confidential consultation. Our attorneys represent investors nationwide for claims of breach of fiduciary duty, malpractice, fraud and other claims.