{"id":3024,"date":"2015-05-04T00:00:00","date_gmt":"2015-05-04T04:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/sec-announces-fraud-charges-against-ecareer-holdings-inc-and-brokers-dean-esposito-of-boca-raton-fl-joseph-devito-of-brooklyn-ny-and-frederick-birks-of-orlando-fl\/"},"modified":"2017-07-27T15:22:09","modified_gmt":"2017-07-27T19:22:09","slug":"sec-announces-fraud-charges-against-ecareer-holdings-inc-and-brokers-dean-esposito-of-boca-raton-fl-joseph-devito-of-brooklyn-ny-and-frederick-birks-of-orlando-fl","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/sec-announces-fraud-charges-against-ecareer-holdings-inc-and-brokers-dean-esposito-of-boca-raton-fl-joseph-devito-of-brooklyn-ny-and-frederick-birks-of-orlando-fl\/","title":{"rendered":"SEC Announces Fraud Charges against eCareer Holdings, Inc. and Brokers Dean Esposito of Boca Raton, FL, Joseph Devito of Brooklyn, NY and Frederick Birks of Orlando, FL"},"content":{"rendered":"

The Securities and Exchange Commission (\u201cSEC\u201d) halted a microcap scheme in South Florida that included three boiler room stockbrokers trying to conceal the fact that they were barred from the securities industry.\u00a0 The stockbrokers\u2019 investment scheme included the financial exploitation of the elderly<\/a>, as well as the concealment of their disciplinary histories.\u00a0 Brokers Dean Esposito, Joseph Devito, and Frederick Birks, cold called investors, including many elderly, ages 85 to 98 years old, and defrauded them into purchasing unregistered stock shares of eCareer Holdings, Inc.\u00a0 The CEO of eCareer Holdings, Inc., Joseph Azzata of Boca Raton, FL, knowingly hired the 3 barred brokers and their sales agents, while allegedly perpetrating the fraud<\/a> on investors.<\/p>\n

\u201cWe allege that senior citizens and other investors were falsely told that purchasing eCareer stock was a good, profitable investment,\u201d stated Eric Bustillo, Director of the SEC\u2019s Miami Regional Office.\u00a0 \u201cConcealed from these investors were the exorbitant fees being paid to sales agents as well as the disciplinary histories of Esposito, DeVito, and Birks.\u201d\u00a0\u00a0 That being, according to the SEC\u2019s complaint filed in the U.S. District Court for the Southern District of Florida, these brokers were the subjects of a prior SEC enforcement action that resulted in them being barred from acting as a broker or dealer or participating in any offering of a penny stock, such as eCareer\u2019s stock.<\/p>\n

The SEC alleges that eCareer, Azzata, Esposito, Devito and Birks fraudulently raised more than $11 million in funds from more than 400 investors since August 2010, and that $3.5 million of that amount was for undisclosed exorbitant fees.\u00a0\u00a0 The SEC seeks disgorgement of ill-gotten gains, prejudgment interest, and financial penalties among other relief for investors.\u00a0 The SEC\u2019s request for a temporary restraining order was granted as well as an asset freeze.\u00a0 The SEC also suspended the trading in shares of eCareer Holdings.<\/p>\n

Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission (\u201cSEC\u201d) halted a microcap scheme in South Florida that included three boiler room stockbrokers trying to conceal the fact that they were barred from the securities industry.\u00a0 The stockbrokers\u2019 investment scheme included the financial exploitation of the elderly, as well as the concealment of their disciplinary histories.\u00a0 Brokers Dean Esposito, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[582,583],"tags":[],"class_list":["post-3024","post","type-post","status-publish","format-standard","hentry","category-elder-fraud","category-sec-actions"],"yoast_head":"\nLosses related to eCareer Holdings? - Silver Law Group<\/title>\n<meta name=\"description\" content=\"If you invested money with Dean Esposito, Joseph DeVito, Frederick Birks or purchased shares of eCareer Holdings, Inc., contact Silver Law Group today\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/sec-announces-fraud-charges-against-ecareer-holdings-inc-and-brokers-dean-esposito-of-boca-raton-fl-joseph-devito-of-brooklyn-ny-and-frederick-birks-of-orlando-fl\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Losses related to eCareer Holdings? 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