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A National Securities Arbitration & Investment Fraud Law Firm

$70 MILLION Recovery for Investment Fraud
$44 MILLION Recovery for Ponzi Scheme Victims
$25 MILLION Recovery Against National Brokerage Firm
$9.1 MILLION FINRA Arbitration Award Against Brokerage Firm
$7.9 MILLION Securities Arbitration Award Against Stockbroker
$1 MILLION Securities Arbitration Award for Elder Financial Fraud
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On July 1, 2021, the US attorney for the Southern District of New York announced that Ross Baldwin of Precious Commodities, Inc. (PCI) and National Coin Broker, Inc. (NCB) has been criminally charged for an alleged fraud related to a precious metals leasing scheme involving millions of dollars. Silver Law Group filed a federal court case (link to complaint) in the Southern District of Florida on behalf of several victims of the alleged scheme. Two other people were criminally charged in connection to the silver lease program, and a parallel civil enforcement action was also filed by the Commodity Future Trading Commission (CFTC) against Baldwin, PCI, NCB, and others. Alleged Precious Commodities/National Coin Broker Silver Leasing Scheme The CFTC’s complaint alleges that from 2014 through 2019, PCI and NCB “engaged in a fraudulent and deceptive scheme to solicit and misappropriate at least $8 million in funds and silver from at least 60 investors in connection with a fraudulent silver leasing program, referred to as the “Silver Lease Program.” The Silver Lease Program promised investors guaranteed monthly payments in exchange for use of silver that investors purchased from NCB or already owned. Investors were told that they would receive about 4%-5% for the lease of their silver, which would purportedly be used to fulfill purchase orders and then be replaced.On July 1, 2021, the US attorney for the Southern District of New York announced that Ross Baldwin of Precious Commodities, Inc. (PCI) and National Coin Broker, Inc. (NCB) has been criminally charged for an alleged fraud related to a precious metals leasing scheme involving millions of dollars.

Silver Law Group filed a federal court case in the Southern District of Florida on behalf of several victims of the alleged scheme. Continue reading ›

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Silver Law Group is investigating potential claims related to investments in L Bonds offered by GWG Holdings. The company missed recent key SEC filing deadlines and these investments may be in serious financial trouble. In April 2021, GWG temporarily paused sales of L Bonds. In May 2021, Nasdaq formally notified GWG of its noncompliance with listing rules. GWG Holdings (GWGH) is a Dallas-based financial services firm that offers a variety of services, including life insurance and alternative investments. GWG sold billions of dollars worth of L Bonds over the past several years, and investors are now growing concerned about the status of these investments. What Are L Bonds? Generally speaking, L Bonds are a relatively new financial product that purportedly offers higher yields than typical publicly traded, fixed income bonds. L Bonds are sold by life insurance companies that buy back the policies from policyholders.  The bonds are supposed to help finance the purchase of the policies.Silver Law Group is investigating potential claims related to investments in L Bonds offered by GWG Holdings. The company missed recent key SEC filing deadlines and these investments may be in serious financial trouble. In April 2021, GWG temporarily paused sales of L Bonds. In May 2021, Nasdaq formally notified GWG of its noncompliance with listing rules. 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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According to FINRA Disciplinary actions for May 2021, the following individuals were suspended from FINRA for failing to comply with a FINRA arbitration award or settlement agreement pursuant to FINRA rules:

NAME FORMER EMPLOYERS
  Scott Kaufman   Vanguard Marketing Corporation
  LPL Financial LLC
  Thomas Marino   R.M. Stark & Co, Inc
  J.W. Cole Financial, Inc.
  Thomas Rohan   Woodstock Financial Group
  AXA Advisors, LLC
  John Schmidt   Wells Fargo Advisors Financial Network, LLC
  Stifel, Nicholas, & Company Incorporated
  Christopher Wright   LPL Financial LLC
  Private Advisor Group, LLC

Continue reading ›

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According to FINRA Disciplinary actions for May 2021, the following individuals were suspended from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules. However, these individuals remain bound by the securities arbitration agreement to arbitrate any disputes between themselves and their former customers:

NAME FORMER EMPLOYERS
  Samantha Beasley   Wells Fargo Clearing Services, LLC
  Annie Boghossian   J.P. Morgan Securities LLC
  Lawrence Ehren   Landolt Securities, Inc.
  Oberweis Securities, Inc.
  Michael Goonan   Equitable Advisors, LLC
  Park Avenue Securities LLC
  Eileen Kenny   LPL Financial LLC
  Private Advisor Group, LLC
  Norma Kuklis
  William Kursim   Fidelity Brokerage Services LLC
  National Financial Services LLC
  John Margain   State Farm VP Management Corp.
  Hector Mejia   ADP Broker-Dealer, Inc.
  Curtis Smiley   Primex
  Sandlapper Securities, LLC
  Michael Swenson   Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Piper Jaffray & Co.
  Joseph Switzer Sr.   Fidelity Brokerage Services LLC
  Joseph Valenti   Newbridge Securities Corporation
  Reid & Rudiger LLC

Continue reading ›

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According to FINRA Disciplinary actions for May 2021, the following individuals were barred from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules:

NAME FORMER EMPLOYERS
  Ryan Callahan   State Farm VP Management Corp.
  James Childress   LPL Financial LLC
  Securities Service Network, Inc.
  Nayely Gamez   Wells Fargo Clearing Services, LLC
  Jorge Guzman   Pruco Securities, LLC
  Yonay Perez   Wells Fargo Clearing Services, LLC
  Richard Ramos   Wells Fargo Clearing Services, LLC
  Dwight Sulc   B.B. Graham & Company, Inc.
  PFS Investments Inc.

Continue reading ›

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According to FINRA Disciplinary actions for April 2021, the following individuals were barred from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules:

NAME FORMER EMPLOYERS
  Tracy Adams   Avantax Investment Services, Inc.
  Ameriprise Financial Services, Inc.
  Jason Anderson   Merrill Lynch, Pierce, Fenner & Smith Incorporated
  LPL Financial LLC
  Solomon Apprey   Pruco Securities, LLC
  AXA Advisors, LLC
  Ronald Bartsch   Union Capital Company
  Liberty Partners Financial Services, LLC
  Spyridon Chandrinos   Millennium Advisors, LLC
  Nelson Polun   Wells Fargo Clearing Services, LLC
  Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Jeffrey Sandwell   LPL Financial LLC
  National Planning Corporation
  Jon Scheier   Edward Jones

Continue reading ›

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According to FINRA Disciplinary actions for April 2021, the following individuals were suspended from FINRA for failing to comply with a FINRA arbitration award or settlement agreement pursuant to FINRA rules:

NAME FORMER EMPLOYERS
  John Arnold   Voya Financial Advisors, Inc.
  LPL Financial LLC
  Zachary Bader   National Securities Corporation
  Craig Scott Capital, LLC
  Peter Brown   Oppenheimer & Co. Inc.
  Bear, Stearns & Co. Inc.
  Riza Hernandez   Lincoln Financial Securities Corporation
  Wells Fargo Clearing Services, LLC

Continue reading ›

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According to FINRA Disciplinary actions for April 2021, the following individuals were suspended from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules. However, these individuals remain bound by the securities arbitration agreement to arbitrate any disputes between themselves and their former customers:

NAME FORMER EMPLOYERS
  Adam Belardino   MML Investors Services, LLC
  MSI Financial Services, Inc.
  Trent Drake   Cambridge Investment Research, Inc.
  Pacer Financial, Inc.
  Nathaniel Eklund   J.P. Morgan Securities LLC
  Geneos Wealth Management, Inc.
  Idean Esfahani   Wells Fargo Clearing Services, LLC
  Adam Feierstein   Proequities, Inc.
  Woodbury Financial Services, Inc.
  Ngonidzashe Parirenyatwa   Wells Fargo Clearing Services, LLC
  Planco Financial Services, LLC
  Laquita Pettis   Wells Fargo Clearing Services, LLC
  George Stills Jr.   Securian Financial Services, Inc.
  AXA Advisors, LLC
  Tim Viohl   U.S. Bancorp Investments, Inc.
  LPL Financial LLC

Continue reading ›

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