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Jan 16, 2017

Richard Gearhart & George McKown Charged With Securities Fraud

By |January 16th, 2017|401(k), Conspiracy, Fraud, Misrepresentation and Fraud, Ponzi Scheme, Press Releases & News, SEC, Securities Law Violations, Unregistered broker dealer, Variable Annuity|

Richard Gearhart of Lowell, Indiana and George McKown of Indianapolis, Indiana have been indicted on fraud charges after prosecutors claim they sold securities to investors despite not being registered to do so. The two were charged with conspiracy to commit securities fraud, securities fraud, and wire fraud, said U.S. Attorney David Capp. According [...]

Jul 11, 2016

AL Man Charged With $1.5M Securities Fraud Involving Church

By |July 11th, 2016|Alabama, Alabama Securities Commission, Failure To Disclose, Fraud, Joseph Borg, Misrepresentation and Fraud, Press Releases & News, Private Placements, Securities Law Violations, Unregistered broker dealer, Unregistered Securities|

Terry Earl Hester of Pike County, Alabama was charged with violating the Alabama Securities Act after allegedly making false promises to a Tuscaloosa County church involving $1.5 million in funds. Hester turned himself into authorities on June 15. The charges are the result of a six-count indictment by a Tuscaloosa County grand jury, according [...]

Apr 29, 2016

AL Man Indicted For Alleged Securities Fraud

By |April 29th, 2016|Alabama, Alabama Securities Commission, Fraud, Misrepresentation and Fraud, Press Releases & News, Securities Law Violations, Unregistered broker dealer, Unregistered Securities|

Jason Todd Caudle of Sylacauga, Alabama has been indicted for alleged securities fraud, following a March 11, 2016 arrest. The grand jury issued a five-count indictment. On the same day, Caudle posted a bond of $250,000 and was released. Caudle then failed to appear for his arraignment on April 5, 2016 and was arrested again [...]

Apr 7, 2016

Advisor Accused Of Operating $53M Ponzi Scheme

By |April 7th, 2016|Fraud, Misrepresentation and Fraud, Ponzi Scheme, Press Releases & News, SEC, Securities Law Violations, Unregistered broker dealer|

John Bivona, an unregistered advisor from New Jersey, has been accused of operating a massive Ponzi scheme by the SEC. Bivona allegedly raised over $53 million from investors, whom he told he would put the money in pre-IPO technology companies. Rather, he used the funds to pay his nephew's credit card bills, income taxes, a [...]

Jan 25, 2016

Futures Trader Pays $260,000 In Restitution For Securities Fraud

By |January 25th, 2016|Fraud, Misrepresentation and Fraud, Press Releases & News, Securities Law Violations, Unregistered broker dealer|

Robert Scott Wiens of Lakewood, Colorado, a director a futures trading firm RXM Holdings Ltd., was sentenced last week to a year in prison and paid more than a quarter-million in restitution for securities fraud. Wiens, who pleaded guilty in October, paid $260,000 of $734,140 in court-ordered victim restitution, according to the Colorado Department of Regulatory Agencies. [...]

Jan 22, 2016

Top Investor Threats

By |January 22nd, 2016|Non Traded Real Estate Investment Trust, Oil / Gas Investments, Ponzi Scheme, Press Releases & News, REIT, Securities Law Violations, Unregistered broker dealer, Unregistered Securities|

The following is a list compiled by the North American Securities Administrators Association of the top financial products and practices that threaten to trap unwary investors and small business owners: Unregistered Products / Unlicensed Salesmen: The offer of securities by an individual without a valid securities license should be a red alert for investors. Con artists [...]

Jan 4, 2016

Alabama Man Indicted On Securities Fraud Charges

By |January 4th, 2016|Alabama, Alabama Securities Commission, Fraud, Misrepresentation and Fraud, Press Releases & News, Securities Law Violations, Unregistered broker dealer, Unregistered Securities|

Last month, Jesse Morgan Hinson of Troy, Alabama was arrested for alleged violations of the Alabama Securities Act. Hinson turned himself in to Houston County law enforcement officials based on an arrest warrant issued after an October 2015 Houston County Grand Jury returned a four-count indictment. Hinson was released on $75,000 bond pending trial. The [...]

Dec 16, 2015

New Jersey Woman Pleads Guilty To $1.2M Securities Fraud

By |December 16th, 2015|Fraud, Misrepresentation and Fraud, Press Releases & News, Securities Law Violations, Unregistered broker dealer|

An ex-New Jersey Investment Adviser pleaded guilty to 31 of 37 charges in two indictments brought against her in 2012 and 2013 for operating a $1.178 million Securities and Annuities fraud scheme, announced the New Jersey Attorney General's Office and the Office of the Insurance Fraud Prosecutor. Janet Fooshee admitted to falsifying and sending more [...]

Nov 2, 2015

California Man Indicted For Defrauding Alabama Investor

By |November 2nd, 2015|Alabama, Alabama Securities Commission, Fraud, Joseph Borg, Misrepresentation and Fraud, Press Releases & News, Securities Law Violations, Unregistered broker dealer|

Daniel Scott Register of Valencia, California was indicted in Calhoun County, Alabama on charges of defrauding an Alabama investor. Register was arrested on October 6 by the Orange County, California Sheriff's Department. He was then transferred on October 9 to a correctional facility in Los Angeles, and a hold was placed on him for pending [...]

Oct 30, 2015

Texas Man Sentenced For Selling Unregistered Securities To Alabama Investor

By |October 30th, 2015|Alabama, Alabama Securities Commission, Joseph Borg, Press Releases & News, Securities Law Violations, Unregistered broker dealer, Unregistered Securities|

Richard Waskom of McKinney, Texas pleaded guilty to one count of Sale of Unregistered Securities before Jefferson County, Alabama Circuit Court Judge Tommy Nail and was given probation for selling unregistered securities pertaining to a project to re-enter previously drilled oil wells. Waskom was sentenced, under a plea deal with prosecutors, to five years imprisonment. [...]

Oct 29, 2015

Massachusetts Charges Fidelity With Dishonest And Unethical Behavior

By |October 29th, 2015|Press Releases & News, Securities Law Violations, Unregistered broker dealer|

In an administrative complaint, Massachusetts charged Fidelity Brokerage Services with dishonest and unethical behavior for letting unregistered investment advisors perform trades on the Fidelity broker-dealer platform, thus creating fees for both the firm and the unregistered advisors. At minimum, thirteen unregistered Massachusetts investment advisors used Fidelity's platform, according to William Galvin, secretary of the commonwealth. [...]

Sep 10, 2015

Alabama Man Sentenced In Securities Fraud Case

By |September 10th, 2015|Alabama, Alabama Securities Commission, Fraud, Misrepresentation and Fraud, Press Releases & News, Securities Law Violations, Unregistered broker dealer|

Kevin Jerome Brown of Hoover, Alabama is looking at a long probation sentence after pleading guilty to securities fraud, according to authorities. Brown pleaded guilty to one count of securities fraud by employing a device, scheme, or artifice to defraud and one count of acting as an unregistered securities agent in Shelby County Circuit Court [...]

Sep 9, 2015

New Jersey Group Accused Of Defrauding Investors Out Of $3M

By |September 9th, 2015|Conspiracy, Fraud, Misrepresentation and Fraud, Press Releases & News, Securities Law Violations, Short-Selling, Unregistered broker dealer|

Less than one week after a New Jersey father and son were arrested for an alleged short sale scheme, they became part of a group of six charged in a fraud that bilked investors out of over $3 million. George Bussanich, Sr. and his son, George Bussanich, Jr., are believed to have begun the alleged [...]

Jul 21, 2015

Broker-Dealers Fined for Wrongful Bond Trades

By |July 21st, 2015|Bonds, SEC, Securities Law Violations, Unregistered broker dealer|

The SEC charged nearly two dozen companies and individuals who bought and sold securities for a Chicago-based trading firm without registering as a broker-dealer with the SEC as required under the federal securities laws. The securities laws regulating broker-dealer registration ensure the protection of investors by allowing the SEC to conduct periodic inspections of firms [...]

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