Recent Blog Posts
Florida Investors Among those Affected By Real Estate Ponzi Scheme in California
On May 22nd, 2025, the Securities and Exchange Commission (SEC) announced securities fraud charges in relation to an alleged real estate Ponzi scheme in California. Kenneth Mattson—the former CEO of an investment entity called LeFever Mattson—is accused of running a $46 million Ponzi-like scheme to take advantage of unsuspecting investors. The SEC contends that… Read More »
SEC Announces Charges Against Florida Residents in $100 Million Securities Fraud Case
On May 20th, 2025, the Securities and Exchange Commission (SEC) announced securities fraud charges against a New York City-based company called Unicoin, Inc. and three of its two executives. Alex Konanykhin, Silvina Moschini, and Alex Dominguez were all named in the complaint. All three are residents of South Florida. Here, our Miami securities fraud… Read More »
SEC File Securities Fraud Charges in $90 Million Real Estate Fraud Case in Florida
On April 25th, 2025, the Securities and Exchange Commission (SEC) announced securities fraud charges in a $90 million real estate fraud case arising out of Florida. Daniel J. Motha and Rishi Kapoor are facing allegations that they defrauded dozens of investors through their company Location Ventures, LLC. Here, our Miami real estate fraud attorney… Read More »
Florida Investors Among Victims of Texas-Based Ponzi Scheme
On April 29th, 2025, the Securities and Exchange Commission (SEC) announced securities fraud charges against three people from Texas. Regulators determined that they perpetrated a $91 million Ponzi scheme against at least 200 investors. Funds were raised on false pretenses from the Vanguard Holdings Group Irrevocable Trust (VHG). Here, our Miami Ponzi scheme attorney… Read More »
SEC Announces Award of $6 Million to Joint Whistleblowers
On April 21st, 2025, the Securities and Exchange Commission (SEC) announced a joint award of $6 million to two whistleblowers. The federal agencies notes that the whistleblowers willingly came forward and: Provided original information that prompted an investigation; and Provided a roadmap to allow authorities to take enforcement action. An agency official noted that… Read More »
South Florida Broker Barred By FINRA, Allegedly Stuck Customers With his Personal Trading Losses
Gary Steven Costello (CRD#: 6117388) is a previously registered broker. From August of 2016 to May of 2019, he was a representative of Morgan Stanley in Boca Raton, Florida. Subsequently, Mr. Costello served as a registered representative of Oppenheimer & Co., Truist Investment Services, and Aegis Capital Corp. Earlier this year, Mr. Costello was… Read More »
SEC Obtains Securities Fraud Judgment in South Florida
On April 15th, 2025, the Securities and Exchange Commission (SEC) obtained a judgment against a Florida-based sports entertainment company in a securities fraud case. Xtreme Fighting Championships, Inc. and its CEO, Steve A. Smith, Jr. stand accused of engaging in a stock fraud scheme. Here, our Miami investment fraud attorney provides a comprehensive overview… Read More »
Florida Broker Barred By FINRA After Failure to Comply With FINRA Arbitration Award
Michael Edwin Magruder (CRD#: 4579211) is a previously registered financial advisor. From July of 2021 to August of 2024, Mr. Magruder was a registered representative of Raymond James & Associates Inc. in Orlando, Florida. In 2024, an investor filed a complaint against this broker. Eventually, this led to his permanent suspension from the securities… Read More »
Miami Man Faces Criminal Charges in Ponzi Scheme Case
On April 3rd, 2025, the United States Attorney’s Office for the Southern District of Florida announced that a man from Miami has been arrested and charged with federal criminal offenses as part of a Ponzi scheme case. Pablo Silverio Rebollido—the owner of E-Card Lending LLC—is accused of running a $40 million Ponzi scheme. Here,… Read More »
Miami Brokerage Firm Fined for Misleading Promises to Prospective Investors
Avenue Securities LLC (CRD #292589) is a brokerage firm headquartered in Miami that is licensed to operate in 30 states and territories. In January of 2025, the Financial Industry Regulatory Authority (FINRA) fined and censured the broker-dealer for failure to develop a proper supervisory system. Specifically, FINRA determined that the firm made misleading promises… Read More »
