Posts tagged ‘John Carris Investments FINRA investigation’
The Financial Industry Regulatory Authority (FINRA) recently announced various charges against brokerage firm John Carris Investments. These charges include stock manipulation, unsuitable self-offerings of securities, and use of Firm funds to pay personal expenses of Firm principals, among others.
According to the cease-and desist order submitted by FINRA, John Carris Investments allegedly solicited clients to purchase stock without making the proper disclosures. FINRA also alleges that the firm sold customers stock in Fibrocell Science Inc without informing clients, that during this time, principals of the brokerage firm were selling their shares. In addition, FINRA alleges that the firm engaged in manipulative trading and unauthorized purchases of Fibrocell stock in customer accounts.
The firm is also accused of defrauding investors in connection with the sale of stocks and notes in Invictus Capital. FINRA alleges that the firm failed to disclose the poor financial condition of Invictus Capital and continued to solicit investments even after Invictus purportedly defaulted on nearly a $2 million note offering.
According to the FINRA complaint, the alleged misconduct occurred beginning in or around January 2010 to present.
The foregoing information, which is publicly available on FINRA’s website, has been provided by The White Law Group. 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 a free consultation with a securities attorney, please contact the securities fraud attorneys of The White Law Group at 312-238-9650.
For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.