Recent Blog Posts
South Florida Man Charged WIth Operating Fraudulent Private Investment Fund
On January 14th, 2022, the Securities and Exchange Commission (SEC) announced charges against Anthony M. Cottone—a Delray Beach, Florida man accused of owning and operating a fraudulent private investment fund. The SEC contends that the unregistered South Florida investment advisor misappropriated approximately $134,000 in investor funds. In this blog post, our Miami private placement… Read More »
DOJ: Florida Man Sentenced For Securities Fraud In West Virginia
On December 3rd, 2021, the Department of Justice (DOJ) formally announced that Phillip W. Conley of Jacksonville, Florida has been sentenced to 87 months in prison for his role in perpetrating a securities fraud scheme. In total, federal authorities allege that Mr. Conley defrauded churches and people in West Virginia out of nearly $5… Read More »
Investment Fraud Watch: SEC Wins Jury Verdict In Securities Fraud Case Against South Florida Financial Advisor
On December 15th, 2021, the Securities and Exchange Commission (SEC) announced that a jury in South Florida found financial advisor Michael C. Furman liable for securities fraud and for the unlawful sale of unregistered securities. The federal agency filed charges against Mr. Furman for his role in an investment fraud scheme targeted at senior… Read More »
FINRA Arbitration Panel In Florida Holds Broker-Dealer Liable For Negligent Supervision
On December 9th, 2021, a Financial Industry Regulatory Authority (FINRA) arbitration panel in Boca Raton, Florida awarded an investor $150,000.00 for negligent supervision (Case Number: 18-02720). The claim was filed after losses were sustained in hedge fund investments. While other causes of action were denied, the respondent (Credit Suisse Securities (USA) LLC) was found… Read More »
SEC Issues Nearly $5 Million Whistleblower Award After Money Successfully Recovered For Harmed Investors
On December 7th, 2021, the Securities and Exchange Commission (SEC) announced a whistleblower award totaling nearly $5 million. The award was approved for an individual who helped the agency take successful enforcement action against securities fraud, recovering compensation on behalf of harmed investors. The SEC has now awarded approximately $1.2 billion in compensation to… Read More »
Florida Financial Professional Barred By FINRA After Refusal To Cooperate With Investigation Into Misuse Of Funds
Earlier this fall, the Financial Industry Regulatory Authority (FINRA) announced that Maureen McKenna Fasanella (CRD #5580617), a previously associated person in Melbourne, Florida, has been barred from the securities industry (FINRA Case: #2019063531701). Ms. Fasanella was most recently associated with Cetera Advisors LLC. The associate was barred from the securities industry after failing to… Read More »
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 »
