Category Archives: Investment Fraud
Palm Beach County Broker Barred From Securities Industry for Material Misrepresentations
On May 17th, 2018, the National Adjudicatory Council (NAC) affirmed FINRA’s findings and sanctions in the case of Michael Todd Clements (CRD#: 170207), permanently barring the broker from the securities industry and ordering him to pay full financial restitution to affected investors. The alleged misconduct in this case relates to the period when Mr…. Read More »
SEC Files Civil Investment Fraud Charges Against Delray Beach, Florida Executive
On May 16th, 2018, the Securities and Exchange Commission (SEC) announced investment fraud charges against Brent Borland. Mr. Borland has a residence in Manhattan, New York and a second residence in Delray Beach, Florida. According to investigators, Mr. Borland misappropriated nearly $6 million in investor funds. While investors were informed that their money was… Read More »
South Florida Broker Barred for Taking Money From Elderly Investor
Earlier this year, the Financial Industry Regulatory Authority (FINRA) announced that Jimmy Oswald Moscoso (CRD#: 2912265), a registered broker based in South Florida, has been permanently barred from the securities industry. Mr. Moscoso was accused of misusing the funds of a vulnerable, elderly investor. In this post, our experienced Miami investment fraud attorneys detail… Read More »
Florida Executive Pleads Guilty to Orchestrating $150 Million Investment Fraud Scheme
On April 19th, 2018, the United States Department of Justice (DOJ) announced that Antonio Carlos de Godoy Buzaneli, an executive from Coral Gables, Florida, has pleaded guilty to investment fraud charges related to his role in a $150 million investment fraud scheme. According to court documents, Mr. Buzaneli and several co-conspirators carried out the… Read More »
SEC Files Investment Fraud Charges Against Former NHL Owner
On April 5th, 2018, the Securities and Exchange Commision (SEC) filed civil investment fraud charges against Peter H. Pocklington and five alleged co-conspirators, including Yolanda C. Velazquez and Vanessa Puelo, both of Florida. Mr. Pocklington is the former owner of the National Hockey League’s Edmonton Oilers. According to the SEC, Mr. Pocklington and his… Read More »
SEC Announces Largest Ever Whistleblower Award
On March 19th, 2018, the Securities and Exchange Commission (SEC) announced a record whistleblower award. Two securities industry whistleblowers were granted a joint award of $50 million, while another whistleblower was granted a record award of $33 million. According to the SEC, the large whistleblower award prior to this date was $30 million, which… Read More »
FINRA Arbitration Panel Awards $1.88 Million to Investors in Puerto Rico Bond Case
On March 28th, 2018, a FINRA arbitration panel based in San Juan, Puerto Rico found UBS Financial Services and UBS Financial Services of Puerto Rico legally liable for $1.88 million in losses sustained by two investors and one retirement fund. The investment products at issue in this case were Puerto Rico closed-end and Puerto… Read More »
SEC Charges Two Florida Men in $32 Million ICO Scam
On April 2nd, 2018, the Securities and Exchange Commission (SEC) announced investment fraud charges against two Florida men. In a complaint filed in the United States District Court for the Southern District of New York, the SEC alleges that Sorbah Sharma and Robert Farkas, the co-founders of a company named ‘Centra Tech’, concocted an… Read More »
FINRA Permanently Bars Miami Securities Broker Who Cost Morgan Stanley $2.5 Million
On March 19th, 2018, the Financial Industry Regulatory Authority (FINRA) announced that it has permanently barred registered broker Thomas Alan Meier (CRD#: 1146044) from associating with any FINRA member, in any capacity. According to FINRA investigators, Mr. Meier made more than 1,2000 unauthorized trades on at least six different customer accounts. At the time… Read More »
SEC Charges Florida Man With Penny Stock Fraud
On March 9th, 2018, the Securities and Exchange Commission (SEC) filed a civil complaint against Brian Robert Sodi, a penny stock promoter based in South Florida. According to the SEC, Mr. Sodi engaged in a classic ‘pump and dump’ scheme, confidentially buying up shares of lightly traded securities, then dumping all of his holdings… Read More »
