Author Archives: Staff
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 »
SEC Charges Two Florida Executives In Alleged Special Needs Trust Fraud Scheme
On May 2nd, 2022, the Securities and Exchange Commission (SEC) announced securities fraud charges against two executives of Synergy Settlement Services, Inc: CEO Jason D. Lazarus, Esq of Orlando and President Anthony F. Prieto, Jr. of Tampa Bay. The two Florida corporate executives stand accused of defrauding individuals with special needs. Here, our Miami… Read More »
FINRA Arbitration Panel In Florida Holds Broker Liable For $62,000 In Investor Damages
Karl Ronald Foust (CRD#: 1010291) is a previously registered broker and previously registered investment adviser (RIA). Mr. Foust was most recently associated with H.D. Vest Investment Services at a branch office in Boca Raton, Florida (2009 to 2014). On April 19th, 2022, a FINRA Arbitration panel in Florida held Mr. Foust liable for $62,000… Read More »
Litigation Update: SEC Charges Two In South Florida With Acting As Unregistered Brokers
On April 14th, 2022, the Securities and Exchange Commission (SEC) announced securities fraud charges against two Southeast Florida men who allegedly acted as unregistered brokers. Joseph Salvatore DeVito and Dean Anthony Esposito—both of Boca Raton, FL—stand accused of acting as unregistered brokers and soliciting investments in unregistered securities offerings. In this article, our Miami… Read More »
SEC Awards $1.25 Million To Whistleblower
On March 25th, 2022, the Securities and Exchange Commission (SEC) officially confirmed the award of $1.25 million in financial compensation to a whistleblower who provided credible and specific information to help regulators put a stop to securities fraud. SEC staff was able to open an investigation and has taken successful enforcement action because of… Read More »
NAC Decision: Miami Broker Barred From Industry, Brokerage Firm Expelled
On March 16th, 2022, the National Adjudicatory Council (NAC) issued a decision in the matter of Department of Enforcement vs. Dakota Securities International, Inc. and Bruce Martin Zipper of Miami, FL. Finding violations of securities industry regulations, broker Bruce Martin Zipper (CRD#: 1019731) was barred from the industry and his firm Dakota Securities International… Read More »
March 2022: SEC Issues Two Whistleblower Awards, Totaling $17.5 Million In Financial Compensation
Securities fraud remains a major area of concern. The SEC is the federal agency responsible for regulating securities markets and taking enforcement action against investment fraud. One of the challenges facing the SEC is that investment fraud is often well-concealed. For this reason, a whistleblower program was created to incentivize insiders to come forward… Read More »
South Florida Financial Advisor Fined, Suspended For Unauthorized Trading
Alan Scot Feigenbaum (CRD#: 3132230) is a previously registered broker and previously registered investment advisor (RIA). Most recently, Mr. Feigenbaum served as a securities representative for Newbridge Securities Corporation in Boynton Beach, Florida (04/02/2019 – 05/07/2021). Prior to that, he was also associated with National Securities Corporation and Prime Capital Services. Recently, the Financial… Read More »
Two Florida Men Among Five Indicted In ‘Pump And Dump’ Securities Fraud Scheme
On February 17th, 2022, the United States Department of Justice (DOJ) announced that five men, including two from Florida, have been indicted on federal securities fraud charges for their role in an ‘pump and dump’ investment fraud scheme. The DOJ contends that they unlawfully manipulated the price of a health care industry stock. In… Read More »
FINRA Arbitration Panel In Florida Holds UBS Financial Services Liable For More Than $1.7 Million In Investor Losses
On February 2nd, 2022, the FINRA arbitration panel in Boca Raton, Florida issued a decision in a securities fraud dispute—awarding more than $1.7 million in damages to three interconnected investment entities (Case Number: 20-00459). The respondent in the case was UBS Financial Services Inc. (CRD#: 8174/SEC#: 801-7163,8-16267), the Swiss-based multinational investment bank that is… Read More »
