Recent Blog Posts
SEC Charges Several South Florida Residents in Penny Stock Fraud Scheme
On September 7th, 2018, the Securities and Exchange Commission (SEC) announced fraud charges against ten different individuals in relation to a penny stock fraud scheme. The charges were filed in the United States District Court for the Southern District of the New York. According to the SEC’s complaint, the ten individuals were implicated in… Read More »
SEC Charges Florida Resident With Securities Fraud
On September 10th, 2018, the Securities and Exchange Commission (SEC) announced securities fraud charges against a former Miami Beach, Florida broker named Emil Botvinnik. In the United States District Court for the Southern District of New York, the SEC charged Mr. Botvinnik (CRD#: 4359481) in a multi-million dollar excessive trading (churning) scheme. The alleged… Read More »
SEC Awards Nearly $55 Million to Two Whistleblowers
On September 6th, 2018, the Securities and Exchange Commission (SEC) announced two new whistleblower awards. One SEC whistleblower was awarded $15 million for disclosures, and another was awarded more than $39 million — that being the second largest award in the history of the program. At Carlson & Associates, P.A., our Miami SEC whistleblower… Read More »
SEC Files Bond Fraud Charges Against South Florida Company
On August 14th, 2018, the Securities and Exchange Commission (SEC) announced investment fraud charges against two companies and eighteen different individuals. One of the investment firms, Core Management Performance, LLC (CPM), is based in Boca Raton, Florida, and was operated by four South Florida individuals: James Scherr of Boca Raton, FL; Deborah Dora of… Read More »
SEC Charges Five Florida-Based Unregistered Brokers with Selling Fraudulent Woodbridge Group Financial Products
On August 20th, 2018, the Securities and Exchange Commission (SEC) announced investment fraud charges against five Florida residents: Barry Kornfeld of Parkland, FL; Ferne E. Kornfeld of Parkland, FL; Andrew G. Costa of Fort Lauderdale, FL; Albert D. Klager of Vero Beach, FL; and Lynette M. Robbins of The Villages, FL. According to the… Read More »
Miami-Dade County Advisor Barred for Refusal to Cooperate With FINRA Investigation into Undisclosed Private Placements
Alex Gerardo Herrera (CRD#: 3204779) is a former broker and investment advisor. Most recently, Mr. Herrera was employed at UBS Financial Services in Coral Gables, Florida. On August 8th, 2018, FINRA barred Mr. Herrera from the securities industry. FINRA took this disciplinary action after this broker refused to cooperate with a regulatory investigation into… Read More »
FINRA Arbitration Panel Awards Florida Investor $90,000 in Inadequate Supervision Claim
Recently, a FINRA arbitration panel in Orlando, Florida ruled in favor of a Florida investor in a negligence claim. The respondents in the case were Vanguard Capital (CRD#: 22081) and its broker Aaron Christopher Ray (CRD#: 4613258). Mr. Ray served at the firm from 2004 to 2016 and was based at a branch office… Read More »
Former Raymond James Broker Suspended For Failure to Respond to FINRA Request for Information
Stephen Allen Murray (CRD#: 343722) was previously registered with the Financial Industry Regulatory Authority (FINRA) as a securities broker and investment advisor. From February of 2013 to February of 2018, this broker was employed at Raymond James & Associates, Inc. (CRD#: 705) at branch location in Palm Beach Gardens, Florida. Failure to Cooperate With… Read More »
South Florida Broker Barred for Elder Financial Fraud
On July 11th, 2018, the Financial Industry Regulatory Authority (FINRA) announced that it has reached a settlement with Mitchell Yanow (CRD#: 2148171), a former broker of Stifel, Nicolaus & Company. From April of 2015 to May of 2018, Mr. Yanow was employed at the Boca Raton, FL branch office of this brokerage firm. Earlier… Read More »
SEC Proposes Amendments to the Whistleblower Program
The SEC whistleblower program was created in 2010 incentivize securities industry insiders and others who have access to sensitive information to report suspected wrongdoing. To date, the SEC has handed out more than $250 million in whistleblower awards. In addition, the SEC has used the information obtained through whistleblower disclosures to recover more than… Read More »
