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Articles Tagged with J.P Turner & Company

Bahram Mirhashemi Facing Allegations of Elder Financial Fraud on silverlaw.comThe SEC filed charges against a Pompano Beach, Florida-based company, its CEO and its top sales agent in late March 2017, accusing them of conducting a boiler room operation that bilked investors out of almost $5 million.

According to the SEC’s complaint, CEO David Gray and sales agent Joseph A. Vitale (CRD# 5223467), aka Donovan Kelly, were the primary figures in carrying out the scheme.

According to the complaint, the company, LottoNet Operating Corp. (“LottoNet”), purported to be in the business of facilitating the purchase of lottery tickets from lotteries in various states online.

United Development Funding IV (“UDF IV”) announced a distribution amidst a continuing SEC investigation and delisting from NASDAQ exchange.

On November 8, 2016, United Development Funding (“UDF”) announced that its public real estate investment trust United Development Funding IV’s board of trustees has authorized a cash distribution of $0.08 per share payable on November 28, 2016 to its shareholders.

Though UDF shareholders do not have much to celebrate,  this distribution presents some   good news given the storm the company has been through.  For example, most recently, in October 2016, UDF IV was delisted from the NASDAQ Stock Market and is now listed on the OTC Markets under the symbol UDFI.  It’s currently trading at $2.76 per share.

Silver Law Group is investigating Meyers Associates broker Matthew A. Siliato (CRD# 5062153) for recent allegations that he recommended clients unsuitable investments.

Siliato’s Financial Industry Regulatory Authority (“FINRA”) BrokerCheck report indicates that the broker has nine misconduct disclosures.

Siliato’s most recent complaint was filed on June 23, 2016.  The customer dispute alleges unsuitable recommendations and damages in the amount of $250,000.  The complaint is currently pending.

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