Category Archives: Securities Fraud
Fort Lauderdale Securities Broker Sentenced to Six Years in Prison
On December 4th, 2018, the United States Attorney’s Office for the Southern District of Florida announced that Salvatore Colonna — a former Fort Lauderdale-based investment broker — has been sentenced to six years in prison for his role in a multimillion dollar securities fraud scheme. In connection with the case, former securities broker Salvatore… Read More »
South Florida Broker Suspended for Eight Months for Unsuitable Investment Recommendations
David H. Fagenson (CRD#: 1652012) is an actively registered securities broker and investment advisor. Since December of 2016, Mr. Fagenson has been employed at Newbridge Securities Corporation in Boca Raton, Florida. Previously, this representative was also associated with UBS Financial Services (2010 to 2016) and Merrill Lynch (2004 to 2010). On November 21st, 2018,… Read More »
SEC Charges Two Florida Men, Florida Company in Penny Stock Fraud Allegedly Targeted at Senior Investors
On November 15th, 2018, the Securities and Exchange Commission (SEC) filed a complaint in the United States District Court for the Eastern District of New York against five individuals. Several companies were also listed in the complaint. Specifically, securities fraud charges were brought against: Mark Burnett of Rosslyn, New York Jeffrey Miller of Bellmore,… Read More »
FINRA Complaint: Tampa Broker Submitted False Reimbursement; Misled Investigators
Nancy Kimball Mellon (CRD#: 1253484) is a former registered broker and registered investment advisor. From 2012 to 2016, Ms. Mellon was associated with Wells Fargo Clearing Services, LLC based at a branch office in Tampa, Florida. Previously, she was also a representative for Morgan Stanley (2009 to 2012) and for Citigroup (2004 to 2009)…. Read More »
SEC Adds Miami, FL Company to PAUSE Database; Entity Accused of Soliciting Investors Using Misleading Information
On October 31st, 2018, the Securities and Exchange Commission (SEC) announced the addition of 16 unregistered companies and investment entities the official Unregistered Soliciting Entities (PAUSE) list. This database is provided free to the public, as a tool for investors to help them protect themselves from fraud. Companies and investment entities can be added… Read More »
SEC Charges Company, CEO for Selling Unregistered Securities Through EB-5 Immigrant Investor Program
On September 21st, 2018, the Securities and Exchange Commission (SEC) announced an $11.5 million settlement with an Illinois-based company, CMB Export LLC, its Chief Executive Officer Patrick Hogan, and 37 related limited partnerships. This settlement was reached in order to resolve charges related to unregistered securities that were improperly sold to foreign investors who… Read More »
SEC Charges Several South Florida Residents in Penny Stock Fraud Scheme
On September 7th, 2018, the Securities and Exchange Commission (SEC) announced fraud charges against ten different individuals in relation to a penny stock fraud scheme. The charges were filed in the United States District Court for the Southern District of the New York. According to the SEC’s complaint, the ten individuals were implicated in… Read More »
SEC Charges Florida Resident With Securities Fraud
On September 10th, 2018, the Securities and Exchange Commission (SEC) announced securities fraud charges against a former Miami Beach, Florida broker named Emil Botvinnik. In the United States District Court for the Southern District of New York, the SEC charged Mr. Botvinnik (CRD#: 4359481) in a multi-million dollar excessive trading (churning) scheme. The alleged… Read More »
SEC Files Bond Fraud Charges Against South Florida Company
On August 14th, 2018, the Securities and Exchange Commission (SEC) announced investment fraud charges against two companies and eighteen different individuals. One of the investment firms, Core Management Performance, LLC (CPM), is based in Boca Raton, Florida, and was operated by four South Florida individuals: James Scherr of Boca Raton, FL; Deborah Dora of… Read More »
SEC Charges Five Florida-Based Unregistered Brokers with Selling Fraudulent Woodbridge Group Financial Products
On August 20th, 2018, the Securities and Exchange Commission (SEC) announced investment fraud charges against five Florida residents: Barry Kornfeld of Parkland, FL; Ferne E. Kornfeld of Parkland, FL; Andrew G. Costa of Fort Lauderdale, FL; Albert D. Klager of Vero Beach, FL; and Lynette M. Robbins of The Villages, FL. According to the… Read More »
