Author Archives: Staff
Wells Fargo Facing $300 Million Civil Lawsuit for “Aiding and Abetting” Ponzi Scheme
According to reporting from the Sun Sentinel, Wells Fargo—the large San Francisco-based financial services company—is facing a $300 million civil lawsuit for its alleged role in “aiding and abetting” a Ponzi scheme. The underlying scheme relates to Seeman Holtz insurance company. Here, our Miami Ponzi scheme attorney discusses the case in more detail. Background:… Read More »
Miami-Based Brokerage Firm Cited for Securities Law Violations
Creand Securities (CRD#: 38964/SEC#: 8-48481) is a brokerage firm based in Miami, Florida. The firm is licensed to operate in 14 states and territories. In May of 2024, the Financial Industry Regulatory Authority (FINRA) took disciplinary action against Creand Securities (Case No. 2020065127101). The broker-dealer was cited for violating customer reserve requirements. Here, our… Read More »
Florida Broker Suspended for Improperly Exercising Trading Discretion Without Proper Authorization
Thomas Bradley Kintz (CRD #2667817) is a previously registered broker and previously registered investment adviser (RIA). From February of 2017 to May of 2022, Mr. Kintz was a representative of Benjamin F. Edwards & Company. Inc. in Boynton Beach, Florida. In March of 2024. Mr. Kintz was fined and suspended by the Financial Industry… Read More »
FINRA Suspends Securities Broker from Florida for Five Months for Violations Regarding Private Placements
Todd Arnold Havemeister (CRD #1942953) is a registered investment adviser. From August of 2018 to May of 2022, Mr. Havemeister was a representative of Great Point Capital, LLC in Melbourne, Florida. In 2022, he was permitted to resign from that brokerage after allegedly misrepresenting himself in retail communications. Notably, the Financial Industry Regulatory Authority… Read More »
Business Owner from Orlando Pleads Guilty to Criminal Charges in $57 Million Investment Fraud Case
On May 7th, 2024, the United States District Court for the Northern District of Florida announced that Avinash Singh—a 42-year-old man from Orlando, Florida—has entered a guilty plea for two counts of wire fraud and three counts of money laundering. Mr. Singh reportedly played a key role in a $57 million investment fraud scheme… Read More »
Hedge Fund Manager in Georgia Charged With Securities Fraud—Allegedly Falsely Linked NFL Quarterback to Investment Fund
On April 24th, 2024, the Securities and Exchange Commission (SEC) confirmed that Craig Allen—an Atlanta, Georgia based hedge fund manager—is being charged as a part of a multi-million dollar securities fraud case. Investors in several states, including Florida, were affected. Mr. Allen operated The Cheetah Fund L.P. and he falsely touted his fund as… Read More »
Texas Man Indicted in Ponzi Scheme Case, Falsely Touted Connection to NBA
On April 11th, 2024, the Department of Justice (DOJ) announced that Timothy France Johnson—a man from West Texas—has been indicted by a federal grand jury on investment fraud charges. Mr. Johnson is accused of operating a multi-million Ponzi scheme that falsely touted a connection to the National Basketball Association (NBA). In reality, the investment… Read More »
Report: Investment Broker in Florida Who Stole Approximately $3 Million from Investors has Been Arrested
According to a report from WFLA News Channel 8, Joseph Michael Todd—an investment broker from Citrus County—has been arrested after allegedly stealing approximately $3 million from investors. Authorities contend that Mr. Todd used the funds on personal expenses, lavish luxury purchases, gambling, and adult entertainment. Here, our Miami investor rights attorney discusses the allegations… Read More »
OHO Decision: Broker Barred for Churning Customer Accounts (Excessive Trading)
Michael Venturino (CRD No. 5872439) is a previously registered broker. Most recently, he was associated with Spartan Capital Securities in Garden City, New York (2018 to 2023). Mr. Venturino faced a number of different customer complaints for excessive trading (churning). One of the six complaints was filed by a resident of Florida. In March… Read More »
Broker in Florida Barred for FINRA Violations
William Wade Godfrey (CRD #2447660) is a previously registered broker and previously registered investment adviser (RIA). From March of 2021 to January of 2022, Mr. Godfrey worked as a representative for Thrivent Investment Management in Clearwater, Florida. Subsequently, this broker served as a representative of OneAmerica Securities. Recently, William Wade Godfrey was barred by… Read More »
