Author Archives: Staff
SEC Obtains Final Judgment Against Two Defendants in Florida Pump-and-Dump Securities Fraud Scheme
On June 20th, 2025, the Securities and Exchange Commission (SEC) announced that it secured a final judgment against two defendants in a securities fraud case in South Florida. Civil charges were brought against Benjamin Ballout and Mohamed Zayed for their role in a pump-and-dump scheme. Here, our Miami, FL securities fraud attorney discusses the… Read More »
FINRA Bars Broker in Relation to Investigation into Undisclosed Outside Business Activities
Mark Frederic Seruya (CRD #1108375) is a previously registered broker and previously registered investment adviser (RIA). He is listed by FINRA as a resident of Sunny Isles, Florida. From June of 2009 to August of 2024, Mr. Seruya was a representative of Morgan Stanley. Recently, FINRA barred this broker for his failure to cooperate… Read More »
SEC Files Securities Fraud Charges in South Florida; Alleges Misappropriation of Over $17 Million
On May 27th, 2025, the Securities and Exchange Commission (SEC) announced securities fraud charges against Andrew H. Jacobus and two companies (Kronus Financial Corporation and Finser International Corporation). The federal regulator alleges that Mr. Jacobus misappropriated more than $17 million from investors through these two companies. Here, our Miami securities fraud attorney provides an… Read More »
Florida Investors Among those Affected By Real Estate Ponzi Scheme in California
On May 22nd, 2025, the Securities and Exchange Commission (SEC) announced securities fraud charges in relation to an alleged real estate Ponzi scheme in California. Kenneth Mattson—the former CEO of an investment entity called LeFever Mattson—is accused of running a $46 million Ponzi-like scheme to take advantage of unsuspecting investors. The SEC contends that… Read More »
SEC Announces Charges Against Florida Residents in $100 Million Securities Fraud Case
On May 20th, 2025, the Securities and Exchange Commission (SEC) announced securities fraud charges against a New York City-based company called Unicoin, Inc. and three of its two executives. Alex Konanykhin, Silvina Moschini, and Alex Dominguez were all named in the complaint. All three are residents of South Florida. Here, our Miami securities fraud… Read More »
SEC File Securities Fraud Charges in $90 Million Real Estate Fraud Case in Florida
On April 25th, 2025, the Securities and Exchange Commission (SEC) announced securities fraud charges in a $90 million real estate fraud case arising out of Florida. Daniel J. Motha and Rishi Kapoor are facing allegations that they defrauded dozens of investors through their company Location Ventures, LLC. Here, our Miami real estate fraud attorney… Read More »
Florida Investors Among Victims of Texas-Based Ponzi Scheme
On April 29th, 2025, the Securities and Exchange Commission (SEC) announced securities fraud charges against three people from Texas. Regulators determined that they perpetrated a $91 million Ponzi scheme against at least 200 investors. Funds were raised on false pretenses from the Vanguard Holdings Group Irrevocable Trust (VHG). Here, our Miami Ponzi scheme attorney… Read More »
SEC Announces Award of $6 Million to Joint Whistleblowers
On April 21st, 2025, the Securities and Exchange Commission (SEC) announced a joint award of $6 million to two whistleblowers. The federal agencies notes that the whistleblowers willingly came forward and: Provided original information that prompted an investigation; and Provided a roadmap to allow authorities to take enforcement action. An agency official noted that… Read More »
South Florida Broker Barred By FINRA, Allegedly Stuck Customers With his Personal Trading Losses
Gary Steven Costello (CRD#: 6117388) is a previously registered broker. From August of 2016 to May of 2019, he was a representative of Morgan Stanley in Boca Raton, Florida. Subsequently, Mr. Costello served as a registered representative of Oppenheimer & Co., Truist Investment Services, and Aegis Capital Corp. Earlier this year, Mr. Costello was… Read More »
SEC Obtains Securities Fraud Judgment in South Florida
On April 15th, 2025, the Securities and Exchange Commission (SEC) obtained a judgment against a Florida-based sports entertainment company in a securities fraud case. Xtreme Fighting Championships, Inc. and its CEO, Steve A. Smith, Jr. stand accused of engaging in a stock fraud scheme. Here, our Miami investment fraud attorney provides a comprehensive overview… Read More »
