Author Archives: Staff
Florida Broker Fined and Suspended for Excessive Trading
Sean P. McCabe (CRD #5479643) is a registered securities broker. Mr. McCabe is listed by the Financial Industry Regulatory Authority (FINRA) as a resident of Palm Beach County, Florida. Since March of 2020, he has been a representative of Network 1 Financial Securities. In January of 2025, FINRA suspended Mr. McCabe for three months… Read More »
Report: Florida Saw Surged in Ponzi Scheme Cases in 2024
On February 17th, 2025, the Miami Herald reported that there was a surge in Ponzi scheme cases in the state in 2024. A Ponzi scheme is a form of investment fraud that is structured to pay existing investors with the funds of new investors. All Ponzi schemes will eventually collapse. Within this article, our… Read More »
Broker From Florida Suspended, Fined for Securities Law Violations Involving Municipal Bonds
Thomas McClure Mead Jr. (CRD #330666) is a previously registered securities broker. He is listed by the Financial Industry Regulatory Authority (FINRA) as a resident of Vero Beach, Florida. Most recently, Mr. Mead Jr. was a registered representative of Drexel Hamilton, LLC (December 2010 to December 2023). FINRA recently announced enforcement action against this… Read More »
Florida Broker Barred for Failure to Cooperate With FINRA Inquiry
Sherwin Sargeant (CRD # 5096798) is a previously registered securities broker. From December of 2019 to July of 2023, Mr. Sargent was a representative for Planmember Securities Corporation in Orlando, Florida. In November of 2024, this broker was permanently barred from the securities industry by the Financial Industry Regulatory Authority (FINRA) for the failure… Read More »
SEC Brought a Record Number of Enforcement Actions in the First Quarter of FY 2025
On January 17th, 2025, the Securities and Exchange Commission (SEC) announced that a record number of enforcement actions were brought by the agency in the first quarter of Fiscal Year 2025. For reference, that period ran from October 31st of 2024 through December 31st of 2024. Here, our Miami securities fraud attorney discusses the… Read More »
Man Operated Ponzi Scheme While in Prison, including in Florida
According to a press release from the United States Department of Justice (DOJ), Seth Adam Depiano, a 43-year-old man who is originally from California, is facing charges for allegedly operating a Ponzi scheme while incarcerated in federal prison, including while at a facility in Florida. Mr. Depiano—who was already in prison for fraud—is accused… Read More »
Florida Broker Fined and Suspended for Undisclosed Outside Business Activities
Benjamin J. Rosamond (CRD #: 5282092) is a previously registered securities broker. From October of 2020 to May of 2023, Mr. Rosamond was a representative of Robinhood Securities, LLC in Lake Mary, Florida. In May of 2023, Mr. Rosamond was discharged by the brokerage firm for undisclosed outside business activities. The Financial Industry Regulatory… Read More »
Vinco Ventures Chief Executive Faces Securities Fraud Charges in South Florida
Roderick “Rod” Vanderbilt is a former chief executive officer (CEO) for a company called Vinco Ventures. In July of 2023, that company was officially delisted by Nasdaq. Mr. Vanderbilt is now facing felony conspiracy to commit securities fraud charges in a federal court in South Florida. Here, our Miami securities fraud attorney discusses the… Read More »
Madoff Victims Receive Final Payout (Nearly 94 Percent Recovery)
According to reporting from the International Business Times, the final payments have been made to the victims of the record-breaking Madoff Ponzi scheme. With these payments—which come more than 15 years after the scheme fell apart—the victims have recovered approximately 94 percent of their losses. Here, our Miami Ponzi scheme lawyer provides a more… Read More »
Florida Broker Fined and Suspended for Unsuitable Investment Recommendations
Victor Alan Lessinger (CRD #830821) is a previously registered securities broker. From October of 2012 to April of 2023, Mr. Lessinger was a representative of Colorado Financial Service Corporation in Boca Raton, Florida. He was recently fined and suspended by the Financial Industry Regulatory Authority (FINRA) for making unsuitable investment recommendations. Here, our Miami… Read More »
