Category Archives: Investment Fraud
SEC Gets Final Judgment Against Head Trader In “Fake Trade” Scheme In Florida
On May 12th, 2023, the Securities and Exchange Commission (SEC) officially confirmed that the agency has obtained a final judgment in its case against Joshua David Nicholas, et al. Mr. Nicholas was the head at a Florida-based hedge fund called EmpiresX, which defrauded investors through “fake trades.” Here, our Miami investor losses attorney provides… Read More »
South Florida Broker Charged With Securities Fraud, Targeting Investors Of Religious Faith
On April 17th, 2023, the Securities and Exchange Commission (SEC) announced securities fraud charges against Marcus K. Moon. Mr. Moon is a previously registered FINRA securities broker. From 2017 to 2021, he was an associate of NYLife Securities LLC in Miramar, Florida. In March of 2021, Mr. Moon voluntarily resigned from the brokerage firm… Read More »
Merrill Lynch Pays Nearly $10 Million To Resolve Case Over Undisclosed Fees To Investors
On April 3rd, 2023, the Securities and Exchange Commission (SEC) announced enforcement action against Merrill Lynch, Pierce, Fenner & Smith Incorporated, the large New York City based brokerage firm. Merrill Lynch charged excessive undisclosed advisory fees to investors, including in Florida. Below, our Miami investor rights attorneys discuss the enforcement action. SEC Enforcement Action:… Read More »
SEC Charges Florida Man With Stealing More Than $5 Million From Investors
On March 15th, 2023, the Securities and Exchange Commission (SEC) charged Peter Krieger—the former manager of an investment company called a Florida-based investment company called Oban Energies, LLC—with misappropriating more than $5 million from investors. The SEC notes that Mr. Krieger is a recidivist. He was previously charged with securities fraud by the agency… Read More »
SEC Takes Emergency Action Against Miami-Based Cryptocurrency Investment
On March 6th, 2023, the Securities and Exchange Commission (SEC) confirmed that an emergency asset freeze is in place in the case involving BKcoin Management, LLC and its principal owner and operator Kevin Kang. Bkcoin is a Miami-based cryptocurrency investment advisory firm. The company and Mr. Kang are both currently implicated in an alleged… Read More »
SEC Litigation Update: Puerto Rico Company Settles Securities Fraud Allegations
On February 22nd, 2023, the Securities and Exchange Commission (SEC) confirmed that the agency has obtained a final judgment in an investment fraud case against Green Mining, LLC and José Jiménez Cruz. In total, the company and Mr. Jiménez will pay more than $3 million. The case is centered around fraud involving unregistered securities…. Read More »
Former SPAC CFO Charged In Connection To Multi-Million Dollar Securities Fraud Scheme
On January 3rd, 2022, the Securities and Exchange Commission (SEC) officially announced securities fraud charges against Cooper J. Morgenthau, the former Chief Financial Officer (CFO) of a company called African Gold Acquisition Corp. The investment entity was organized as a special purpose acquisition company (SPAC). In total, the SEC alleges that investors were defrauded… Read More »
SEC Charges Four Individuals With Cryptocurrency Scheme Targeted At Spanish-Speaking Investors, Including In Florida
On December 14th, 2022, the Securities and Exchange Commission (SEC) charged four people as part of a cryptocurrency securities fraud scheme that was allegedly targeted at Spanish-speaking investors, including investors in Florida. The following individuals were named as part of the nearly $10 million investment fraud scheme: Francisley Valdevino Da Silva; Juan Antonio Tacuri… Read More »
FINRA Arbitration Panel: Morgan Stanley Liable For More Than $11.6 Million In Damages
On December 1st, 2022, a FINRA Arbitration Panel in Tampa, Florida awarded more than $11.6 million in damages to claimants (Case Number: 21-02127). Morgan Stanley—that national brokerage firm headquartered in Westchester County, New York—was the respondent in the case. The firm was found liable for unauthorized sales and transactions of certain securities. Here, our… Read More »
SEC Settles Securities Fraud Case With “Cherry-Picking” Investment Professionals
On October 25th, 2022, the Securities and Exchange Commission (SEC) published an official litigation release confirming that the agency has obtained a final consent judgment in the securities fraud case involving Ramiro Jose Sugranes, Lina Maria Garcia, UCB Financial Advisers, Inc., and UCB Financial Services Limited. The defendants—as well as two relief defendants—will pay… Read More »
