Recent Blog Posts
Two Men Accused of Multi-Million Investment Fraud Scheme
A former Ithaca, NY accountant and a Plantation, Florida, man have been charged with defrauding investors out of $10 million that was diverted into their personal accounts. According to a recent Sun Sentinel article, FBI agents arrested Bruce Kane (60) and Burton Greenberg (75) on charges of wire fraud and conspiracy. Senol Taskin (50)… Read More »
Financial Advisor Accused of Defrauding Professional Athletes
The Securities and Exchange Commission (SEC) has made allegations that a Pittsburgh-based financial advisor victimized several professional athletes. Blazer Capital Management, founded by Louis Martin (Marty) Blazer III, marketed itself as a financial services advisory firm that specialized in handling the needs of high net worth, high profile, individuals. However, the SEC alleges that… Read More »
Texas Man Charged in Bitcoin Securities Fraud Case
A Texas man has pled guilty to what federal authorities describe as the first bitcoin-related securities fraud case, according to a U.S. News report. Bitcoin is a digital currency that operates independent from a central bank. Encryption techniques are used to regulate how many units are generated and verify the transfer of funds. The… Read More »
FINRA Fines Prudential Annuities Distributors, Inc. $950,000 for Failing to Prevent Theft of $1.3 Million From Elderly Customer’s Variable Annuity Account
On July 19, 2016, FINRA announced it fined Prudential Annuities Distributors, Inc. the sum of $950,000 for failing to detect and prevent a scheme that resulted in the theft of approximately $1.3 million from an 89-year-old customer’s variable annuity account. According to FINRA, Prudential “repeatedly failed to adequately investigate “red flags” that Travis A…. Read More »
Commodity Related Investment Fraud Lawsuit Filed in Florida Court
A lawsuit has been filed alleging that a Palm Beach County company has engaged in nearly $3 million of precious metal fraud. The lawsuit, which was brought in U.S. District Court, was filed by the United States Commodity Futures Trading Commission (CFTC) against Berkeley Enterprises. If you believe that you have been the victim… Read More »
A Guide to Entitlement to Credit Suisse Deferred Compensation
On October 20, 2015, Credit Suisse and Wells Fargo announced an exclusive recruiting arrangement “to provide relationship managers and their clients in Credit Suisse’s U.S. Domestic Private Banking business an opportunity to transition to Wells Fargo’s brokerage business, Wells Fargo Advisors.” The next day, Credit Suisse issued a press release where it confirmed, “we… Read More »
Did Morgan Stanley’s New Sports & Entertainment Division Miss The Point?
Professional athletes often fall victim to unscrupulous financial advisors that take advantage of players’ trust and inexperience in financial matters. Athletes need to be surrounded by trustworthy advisors who will protect their assets, put their interests ahead of the advisor’s interests, keep them away from the wolves, and work with them to create a… Read More »
Dylan Patrick Grayson, Financial Advisor to Pro Athletes, Barred by FINRA
The Financial Industry Regulatory Authority (“FINRA”) has permanently barred Dylan P. Grayson from acting as a broker or otherwise associating with firms that sell securities to the public. On March 4, 2015, Grayson was fired from Merrill Lynch, Pierce, Fenner & Smith after allegations that he used a client’s (Martavis Bryant of the Pittsburgh… Read More »
Securities Fraud Suit Filed against Electronics Firm Harman International
On June 23, 2015, the U.S. Court of Appeals for the District of Columbia ruled to reinstate a securities fraud class action lawsuit against electronics company, Harman International Industries Inc., and, more specifically, against three of its high-ranking executives. Plaintiffs alleged that back in April of 2007, the company announced that it would potentially… Read More »
Will Allen, Former NFL Player, Charged for Role in Ponzi Scheme
Professional athletes and other high-income, high-profile individuals rely on financial advisors and other professionals to responsibly invest their income. But occasionally, financial professionals betray the trust of their clients and investors and make financially unsound decisions or worse – pocket investment funds for themselves. Such is the case of Will Allen, a former National… Read More »
