September 14, 2011 Comments (0) Blog, Securities Fraud

SEC Files a Complaint against Richard A. Finger, Jr. and Black Diamond Securities LLC

(Last Updated On: July 17, 2015)

According to Forbes.com, the Securities and Exchange Commission has filed a complaint against Richard A. Finger, Jr. and his broker-dealer, Black Diamond Securities LLC.  The article states that “[t]he SEC Complaint alleges that from February through August 2011, the subject customer accounts had granted Finger trading authority (which he fully exercised) and, as a result, approximately $1.9 million in losses were sustained from Finger’s trading in securities — often rapid trading of index options. During the same period, the accounts paid roughly $2.1 million in commissions to Black Diamond.”

In addition to these allegations, the SEC also claims that Richard Finger and Black Diamond attempted to conceal the losses and commissions from the clients “…through the use of doctored account statements…”

If you are concerned about investments you made with Richard Finger and/or Black Diamond Securities and would like to speak to a securities attorney, please call The White Law Group at 312/238-9650.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com

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