Category Archives: Investment Fraud
SEC Litigation Release: Charges Filed In Florida Pump-And-Dump Securities Fraud Scheme
On September 30th, 2022, the Securities and Exchange Commission (SEC) announced investment fraud charges against four individuals and two companies in a court in South Florida. Securities fraud charges were filed against the following parties: Arbitrade Ltd (a company based in Bermuda); Cryptobontix Inc. (a company based in Canada); Troy R. J. Hogg of… Read More »
SEC Charges A South Florida Man With Real Estate Investment Fraud
On September 30th, 2022, the Securities and Exchange Commission (SEC) published a litigation release related to the real estate fraud charges against a South Florida man, a French national, and several related investment entities. The agency contends that Paulo Fernando De Bastos (Florida) and Joao Pedro Fonseca (France) raised more than $40 million from… Read More »
SEC Charges South Florida Venture Capital Company In A $3 Million Securities Fraud Case
On September 13th, 2022, the Securities and Exchange Commission (SEC) released an update on securities fraud charges against five people and an investment entity believed to be part of a South Florida-based securities fraud scheme. Charges were filed against: Neil B. Swartz (principal); Timothy S. Hart (principal); Ted L. Romeo (sales agent); Vincent J…. Read More »
SEC Amends Whistleblower Rules—Seeks To Encourage More Whistleblower Tips
In 2010, the United States Congress created the SEC whistleblower program as part of the Dodd-Frank Act. Through the whistleblower program, securities industry insiders and others with relevant information can receive a financial reward for voluntarily coming forward and reporting information to regulators that leads to successful enforcement action in a securities fraud case…. Read More »
Florida Health Insurance CEO Charged With Investment Fraud
On July 20th, 2022, the Securities and Exchange Commission (SEC) announced investment fraud charges against Health Insurance Innovations (HII) and its former Chief Executive Officer (CEO) Gavin Southwell. A Florida resident, Mr. Southwell served as the health insurance carrier’s CEO from November of 2016 through April of 2021. In this blog post, our Miami… Read More »
SEC Issues Three Whistleblower Awards (More Than $23 Million In Compensation In Total)
The Securities and Exchange Commission (SEC) has recently issued three more whistleblower awards. With the latest award, the federal agency has now granted more than $1.3 billion in financial compensation to 278 individuals through the SEC whistleblower program. In this article, our Miami investment fraud attorney discusses the most recent awards. SEC Whistleblower Awards:… Read More »
SEC Litigation Update: Securities Fraud Charges Filed Against Four Unregistered Brokers Who Sold Sky Securities In Florida
On July 13th, 2022, the Securities and Exchange Commission (SEC) published a litigation update in the case against four unregistered brokers in South Florida who improperly sold securities in Sky Group USA, LLC. Sky Group USA is a payday loan business with a main headquarters in Miami, FL. The individuals charged by the SEC… Read More »
FINRA Arbitration Panel In Florida Holds Financial Advisor Liable For Breach Of Fiduciary Duty
Kevin M. McNeil (CRD#: 4166684) is a previously registered securities broker. Mr. McNeil has previously been associated with several brokerage firms in South Florida, including SW Financial (2019 to 2020), Dawson James Securities (2018 to 2019), Westpark Capital, INC (2016 to 2018), and Newport Coast Securities, INC (2015 to 2016). On June 23rd, 2022,… Read More »
FINRA Arbitration Award: $390,000 In Compensatory Damages For Broker Negligence
On June 10th, 2022, a FINRA Arbitration panel at a hearing site in Boca Raton, FL awarded a claimant $390,000 in compensatory damages (Case Number: 19-02212). The respondent in the case was the nationally-known brokerage firm J.P. Morgan Securities, LLC. The claim was filed after an investment strategy touted by the broker-dealer reportedly went… Read More »
SEC Charges Executive Of Florida Company In Multi-Year Accounting Fraud Scheme
On June 2nd, 2022, the Securities and Exchange Commission (SEC) issued a litigation update in the case of the Securities and Exchange Commission v. Anthony Sirotka. The former CAO and President of a company called FTE Networks, Inc, Mr. Sirotka is facing accounting fraud charges. Two other former executives at the company have already… Read More »
