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Articles Posted in Securities Fraud Reports

H. Beck, a Maryland-based broker-dealer firm, has been fined $400,000 by the Financial Industry Regulatory Authority (FINRA) in connection to allegedly unsuitable variable annuity recommendations resulting from the firm’s failure to enforce supervisory guidelines, according to an Investment News report published on November 21, 2018. FINRA found that H. Beck sold its customers more than […]

Mississippi businessman Arthur Lamar Adams has been sentenced to 19.5 years in prison in connection to charges he operated a $100 million Ponzi scheme, according to a report by the Clarion Ledger. Mr. Adams reportedly pleaded guilty in May 2018 to one count of wire fraud in connection to allegations his company, Madison Timber Properties, […]

Securities authorities in Idaho have accused real estate professional Nathan Pyles of of running a Ponzi scheme that stole “at least $4.9 million” from “dozens” of investors, according to a report by the Idaho Statesman. As president of Shiloh Management Services, Mr. Pyles allegedly overpaid himself, directed funds from new investors to repay old investors, […]

Publicly available records published by the Department of Justice, as well as contemporaneous reporting by Financial Planning indicate that CM Capital Management’s Edward Moody Jr. has pleaded guilty to charges of mail fraud and “engaging in monetary transactions in criminally derived property” in connection to an alleged 13-year Ponzi scheme. According to the news report, […]

Publicly available records provided by the Colorado Department of Regulatory Agencies, as well as contemporaneous reporting by Investment News indicate that former LPL broker Sonya Camarco has received a twenty-year prison sentence in connection to charges she stole $1.8 million from her customers. According to a CDRA news release, Ms. Camarco pleaded guilty to charges […]

Publicly available records published by the Securities and Exchange Commission (SEC) and accessed on November 6, 2018, as well as contemporaneous reporting by Investment News indicate that former Pennsylvania-based Next Financial Group broker Douglas Simanski has agreed to settle SEC charges that he participated in a “$3.9 million fraud.” According to an SEC complaint filed […]

Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on November 6, 2018 indicate that Cambridge Investment Research have been ordered to pay an award of $210,000 to an investor as the result of a FINRA arbitration concerning alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have […]

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on November 6, 2018 indicate that UBS Financial Services and UBS Financial Services of Puerto Rico have been ordered to pay an award exceeding $19 million to a party of investors as the result of a FINRA arbitration. Fitapelli Kurta is interested […]

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on November 6, 2018 indicate that Wells Fargo Advisors has been ordered to pay an award totaling $360,800 to an investor as the result of a FINRA arbitration. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Wells Fargo. […]

Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on August 23, 2018 indicate that former California-based Wells Fargo Clearing Services broker/adviser James Schaedler, who has been barred by FINRA, recently received a new pending customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Schaedler (CRD# […]

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