Author Archives: Staff
Additional Florida Financial Advisor Accused Of Illegal Cherry-Picking Scheme
On November 15th, 2021, the Securities and Exchange Commission (SEC) issued a litigation update in its case against Lina Maria Garcia—a Florida investment adviser accused of illegally “cherry-picking” stock trades. The charges are related to similar charges filed against another financial advisor (Ramiro Jose Sugranes of Miami) earlier this year. Below, our Miami financial… Read More »
Florida Broker Barred For Converting Charitable Donations
Roderick Len Whited (CRD#: 2663822) is a previously registered broker and previously registered investment adviser (RIA). From April of 2016 through February of 2020, Mr. Whited was associated with Northwestern Mutual Investment Services. Subsequently, he served as a representative of Intercarolina Financial Services. At both firms, Mr. Whited was based in Gainesville, Florida. On… Read More »
FINRA Arbitration Panel In Florida Awards More Than $250,000 To Claimant
On November 5th, 2021, a Florida-based FINRA arbitration panel awarded $250,205.50 in financial compensation to a claimant who suffered damages due to alleged misconduct by a broker and brokerage firm (Case Number: 15-03293). The respondents in the case were Richard Alyn Rappaport (CRD#: 1885122) and WestPark Capital, Inc. (CRD#: 39914/SEC#: 801-108275, 8-48898). Below, our… Read More »
SEC Awards $2 Million To Whistleblower Who Helped Halt Securities Fraud
On October 29th, 2021, the Securities and Exchange Commission (SEC) announced its 224th whistleblower award. The agency has now awarded more than $1.1 billion in financial compensation to whistleblowers who have come forward and voluntarily provided information to help put a stop to securities fraud. The latest whistleblower award was approved for an anonymous… Read More »
FINRA Arbitration Award: Florida Broker Held Liable For Additional Commissions And Fees Incurred By Investors
Brian Allan Cobb (CRD#: 6020022) is a licensed securities broker and registered investment adviser (RIA). Since March of 2012, Mr. Cobb has served as a registered representative for the brokerage firm Edward Jones in Port Orange, Florida. Based in St. Louis, Edward Jones is a national brokerage firm that is licensed to operate in… Read More »
NAC Decision: Miami Broker Made Material Misrepresentations, Recommended Unsuitable Investments
On October 7th, 2021, the National Adjudicatory Council (NAC) rendered a decision in the case of Department of Enforcement v. Jorge A. Reyes (Complaint No. 2016051493704). The NAC upheld a previous decision, finding that former CP Capital Securities broker Jorge A. Reyes (CRD#: 4256834) violated a number of different securities regulations. Here, our Miami… Read More »
SEC Charges Former Florida Executives In Investment Fraud Case
On September 30th, 2021, the Securities and Exchange Commission (SEC) announced investment fraud charges against two Florida executives—Robert D. Press and Donna M. Silverman, both formerly of TCA Fund Management Group Corp. The SEC alleges that TCA Fund Management harmed investors by improperly inflating its assets. Here, our Miami investment fraud lawyers discuss the… Read More »
FINRA Fines Florida Broker $5,000 And Suspends Him For 45 Days For Undisclosed Outside Business Activities
Athanasios Tomaras (CRD#: 2722538) is a securities broker and registered investment adviser. From November of 2012 through July of 2016, Mr. Tomaras was associated with Fulcrum Advisory Services, LLC in Oldsmar, Florida. Currently, he works as a representative of R. F. Lafferty & Co. Recently, FINRA suspended this broker for 45 days and fined… Read More »
SEC Charges Florida Payday Lender, CEO In Relation To $66 Million Fraud Scheme
On September 27th, 2021, the Securities and Exchange Commission (SEC) announced investment fraud charges against Sky Group USA LLC—a Miami, FL-based payday lending business—and its Chief Executive Officer (CEO) Efrain Betancourt, Jr. The company and its lead executive are implicated in a $66 million fraud scheme. Below, our Miami investment fraud lawyers provide a… Read More »
SEC Litigation Update: Enforcement Action Against Penny Stock Fraud Promoter In Florida
On September 1st, 2021, the Securities and Exchange Commission (SEC) released an official update in a Florida penny stock fraud case. Alexander Kon, a penny stock promoter from Overland Park, Kansas, is facing proposed enforcement action in the United States District Court for the Southern District of Florida. Mr. Kon is accused of violating… Read More »
