Category Archives: Securities Fraud
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 »
Miami-Dade County Advisor Barred for Refusal to Cooperate With FINRA Investigation into Undisclosed Private Placements
Alex Gerardo Herrera (CRD#: 3204779) is a former broker and investment advisor. Most recently, Mr. Herrera was employed at UBS Financial Services in Coral Gables, Florida. On August 8th, 2018, FINRA barred Mr. Herrera from the securities industry. FINRA took this disciplinary action after this broker refused to cooperate with a regulatory investigation into… Read More »
South Florida Broker Barred for Elder Financial Fraud
On July 11th, 2018, the Financial Industry Regulatory Authority (FINRA) announced that it has reached a settlement with Mitchell Yanow (CRD#: 2148171), a former broker of Stifel, Nicolaus & Company. From April of 2015 to May of 2018, Mr. Yanow was employed at the Boca Raton, FL branch office of this brokerage firm. Earlier… Read More »
SEC Shuts Down $100 Million Ponzi Scheme; Florida Man Charged
On June 19th, 2018, the Securities and Exchange Commission (SEC) announced that enforcement officials were shutting down a $102 million Ponzi scheme. Several former FINRA advisors were implicated in the charges. According to the SEC, more than 600 investors throughout the United States were defrauded in this Ponzi scheme. Six men have been charged… Read More »
