Author Archives: Staff
SEC Litigation Update: Securities Fraud Charges Filed Against Four Unregistered Brokers Who Sold Sky Securities In Florida
On July 13th, 2022, the Securities and Exchange Commission (SEC) published a litigation update in the case against four unregistered brokers in South Florida who improperly sold securities in Sky Group USA, LLC. Sky Group USA is a payday loan business with a main headquarters in Miami, FL. The individuals charged by the SEC… Read More »
UBS Will Pay $25 Million To Settle Yield Enhancement Strategy (YES Strategy) Fraud Charges
On June 29th, 2022, the Securities and Exchange Commission (SEC) announced that UBS Financial Services Inc., the multinational investment banking company and brokerage firm, will pay around $25 million to settle investment fraud charges related to its Yield Enhancement Strategy (YES Strategy). Here, our Miami unsuitable investment losses lawyer discusses the settlement and Yield… Read More »
Florida FINRA Arbitration Panel Finds Charles Schwab & Co., Inc. Responsible For Robo-Advisor Error
On June 23rd, 2022 a FINRA arbitration panel in Palm Beach County, Florida awarded a claimant $79,249.93 in compensatory damages (Case Number: 20-02414). The respondent in the case was Charles Schwab & Co., Inc. (CRD#: 5393/SEC#: 801-29938,8-16514), the national broker-dealer and investment advisory firm with a main office in San Francisco, California. Here, our… Read More »
FINRA Arbitration Panel In Florida Holds Financial Advisor Liable For Breach Of Fiduciary Duty
Kevin M. McNeil (CRD#: 4166684) is a previously registered securities broker. Mr. McNeil has previously been associated with several brokerage firms in South Florida, including SW Financial (2019 to 2020), Dawson James Securities (2018 to 2019), Westpark Capital, INC (2016 to 2018), and Newport Coast Securities, INC (2015 to 2016). On June 23rd, 2022,… Read More »
FINRA Arbitration Award: $390,000 In Compensatory Damages For Broker Negligence
On June 10th, 2022, a FINRA Arbitration panel at a hearing site in Boca Raton, FL awarded a claimant $390,000 in compensatory damages (Case Number: 19-02212). The respondent in the case was the nationally-known brokerage firm J.P. Morgan Securities, LLC. The claim was filed after an investment strategy touted by the broker-dealer reportedly went… Read More »
SEC Charges Executive Of Florida Company In Multi-Year Accounting Fraud Scheme
On June 2nd, 2022, the Securities and Exchange Commission (SEC) issued a litigation update in the case of the Securities and Exchange Commission v. Anthony Sirotka. The former CAO and President of a company called FTE Networks, Inc, Mr. Sirotka is facing accounting fraud charges. Two other former executives at the company have already… Read More »
Florida Brokerage Firm Facing Complaint For Material Misrepresentations
Fusion Analytics Securities LLC (CRD#: 124245/SEC#: 8-65649) is a previously registered brokerage firm. The broker-dealer was headquartered in Coral Springs, Florida. In March of 2022, its registration was terminated. On April 8th, 2022, FINRA’s Department of Enforcement filed a complaint against Fusion Analytics Securities LLC alleging that the firm willfully violated Section 10(b) of… Read More »
Broker Fined And Suspended For Seven Months For False & Misleading Statements
Gregory Antonius Lewis (CRD #2793976) is an actively registered securities broker. The Financial Industry Regulatory Authority (FINRA) indicates that this financial advisor is from St. Petersburg, FL. Since June of 2013, Mr. Lewis has been registered as a representative of Stockkings Capital LLC. Previously, he was associated with Caldwell International Securities and John Thomas… Read More »
Florida Broker Fined, Suspended For Improper Private Securities Transaction
Andrew Benjamin Edenbaum (CRD #3040543) is a previously registered investment adviser (RIA). Mr. Edenbaum was most recently associated with Oppenheimer & CO (2002 to 2018), National Securities Corporation (2018 to 2020), and A.G.P/Alliance Global Partners (2020 to 2022). At all three firms, this broker was based at office locations in South Florida. Earlier this… Read More »
SEC Halts Cryptocurrency Mining And Trading Scheme In South Florida
On May 6th, 2022, the Securities and Exchange Commission (SEC) announced securities fraud charges against a number of parties as part of a cryptocurrency mining and trade scheme, including: MCC International Corp. (MCC), doing business as Mining Capital Coin Corp.; MCC co-founder Luiz Carlos Capuci, Jr.; MCC co-founder Emerson Souza Pires; and Other entities,… Read More »
