Category Archives: Investment Fraud
FINRA Bars Broker in Relation to Investigation into Undisclosed Outside Business Activities
Mark Frederic Seruya (CRD #1108375) is a previously registered broker and previously registered investment adviser (RIA). He is listed by FINRA as a resident of Sunny Isles, Florida. From June of 2009 to August of 2024, Mr. Seruya was a representative of Morgan Stanley. Recently, FINRA barred this broker for his failure to cooperate… 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 »
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 »
South Florida Brokerage Firm Sanctioned By FINRA in Unsuitable Investment Case
Newbridge Securities Corporation (CRD #104065) is a Boca Raton, Florida broker-dealer that is licensed to operate in 52 states and territories. On January 10th, 2025, the Financial Industry Regulatory Authority (FINRA) sanctioned Newbridge Securities Corporation for failure to supervise a registered representative for making unsuitable investment recommendations. Within this article, our Miami investment fraud… Read More »
SEC Charges Miami-Based Trucking Company as Part of Multi-Million Dollar Securities Fraud
On March 18th, 2025, the Securities and Exchange and Commission (SEC) announced securities fraud charges against a Miami-based company called Morbex Automation LLC and three of its owners, Adrian Colon, Danilo Monzon, and Joshua Smith. They are accused of defrauding as many as 50 investors in Florida. Within this article, our Miami investment fraud… Read More »
Florida Broker Barred for Failure to Cooperate With FINRA Inquiry
Sherwin Sargeant (CRD # 5096798) is a previously registered securities broker. From December of 2019 to July of 2023, Mr. Sargent was a representative for Planmember Securities Corporation in Orlando, Florida. In November of 2024, this broker was permanently barred from the securities industry by the Financial Industry Regulatory Authority (FINRA) for the failure… Read More »
SEC Charges Three With Penny Stock Fraud in Florida
On September 23rd, 2024, the Securities and Exchange Commission (SEC) announced civil securities fraud charges against three people in Florida: Benjamin Ballout, Mohamed Zayed, and William Fielding. They are accused of engaging in a penny stock fraud scheme—a classic “pump and dump” operation—related to the publicly traded stock for Enerkon Solar International, Inc. In… Read More »
Cryptocurrency Promoter from Florida Pleads Guilty in Investment Fraud Case
On June 5th, 2024, the Securities and Exchange Commission (SEC) announced that Juan Tacuri—a 46-year-old man from Greenacres, Florida—has pleaded guilty to securities fraud charges in a cryptocurrency case. Mr. Tacuri pleaded guilty to wire fraud securities charges in relation to an alleged multi-million dollar fraud scheme. Within this blog post, our Miami investment… Read More »
