The White Law Group is investigating potential securities fraud claims on behalf of investors involving broker-dealers recommending that investors invest in inappropriate REIT investments. A REIT (real estate investment trust) is a corporation or trust that uses the pooled capital of many investors to purchase and manage income property (equity REIT) and/or mortgage loans (mortgage [...]
The U.S. Securities and Exchange Commission has recently sued a Utah man for fraudulently misusing $139 million of investor funds. According to a lawsuit filed in federal court in Salt Lake City, Travis Wright misappropriated all but $6 million of the $145 million he raised from about 175 investors between 2001 and 2009 by selling [...]
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. The firm is dedicated to assisting investors who have suffered investment losses as a result of their financial advisor or broker-dealers’ fraud or negligence. We are currently [...]
The White Law Group is investigating the appropriateness of financial advisor’s recommendations that investors purchase sub-prime issues like American Home Mortgage, New Century Financial Corp., Novastar and other similar companies. In many cases, these investments were pitched by stockbrokers and financial advisors at Merrill Lynch, Wachovia (n/k/a Wells Fargo), Smith Barney, AG Edwards, Edward Jones, [...]
We are investigating a possible securities fraud claim on behalf of an investor involving an improper and unsuitable investment recommendation made to induce the investor to purchase Freddie Mac and Fannie Mae preferred stocks. Based on our preliminary investigation, it appears that a large number of clients of full service brokerage firms and banks were [...]
FINRA recently announced that Reed Theodore Johnson, of Cuso Financial Services, L.P., has been fined $7,500 and suspended from association with any FINRA member in any principal capacity for 10 business days (the suspension was effective from April 19, 2010 through April 30, 2010). Without admitting or denying the findings, Johnson consented to the described [...]
FINRA recently announced that Trent Tremayne Hughes, formerly of Brewer Financial Services in Plano, Texas, has been fined $5,000 and suspended from association with any FINRA member in any capacity for three months. The sanctions were based on findings that Hughes falsified cash distribution forms totaling $232,752 to accommodate customers. The findings further stated that [...]