Have you suffered losses as a result of your dealings with Maxwell B. Smith and Health Care Financial Partners? If so the securities attorneys of The White Law Group may be able to help.
According to reports, New Jersey financial advisor and broker, Maxwell B. Smith, was sentenced to seven years in prison for operating a Ponzi scheme that bilked more than $9 million from investors. Smith admitted that in 1992 he began soliciting investments in the sham entity, Health Care Financial Partners (“HCFP”). Smith allegedly created phony investment prospectus and promised investor yearly divided returns of 7.5% to 9% per investment. He sold the debt securities in HCFP through fraudulent bond offerings ranging in price from $25,000 to $300,000 and used the proceeds for personal expenses.
The White Law Group is investigating the liability that Smith’s employer may have for failure to properly supervise Smith during the 17 years he ran the HCFP Ponzi scheme. When a broker, like Smith, sells phony investments the brokerage firm may be liable for failure to supervise and responsible for investment losses.
According to BrokerCheck Report, Smith was employed with five different brokerage firms during the relevant time, that were located in New Jersey, Pennsylvania, Kentucky, and New York. Smith worked with Rickel & Associates from 08/1990 to 08/1997, Atlantic Group Securities from 09/1997 to 12/1999, J.J.B. Hilliard, W.L Lyons from 12/1999 to 01/2004, PNC Investments 01/2004 to 01/2005, and Cantone Research INC from 01/2005 to 04/2009.
If you suffered losses while investing with Maxwell B. Smith and would like to discuss your recovery options, please call the securities attorneys of The White Law Group at 312-238-9650for a free consultation.
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, visit http://www.whitesecuritieslaw.
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