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January 31, 2012
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Blog, Securities Fraud
It is being reported that FINRA recently filed an enforcement complaint against David Lerner individually for allegedly misleading investors about risk and valuation when marketing a $2 billion non-traded real estate investment, Apple REIT (the same investment for which FINRA began a similar proceeding against David
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January 27, 2012
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Blog, Securities Fraud
Hantz Financial Services, Inc. (CRD #46047, Southfield, Michigan) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $50,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that the firm failed to
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January 27, 2012
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Blog, Securities Fraud
Valmark Securities, Inc. (CRD #31243, Akron, Ohio) recently submitted an Offer of Settlement in which the firm was censured and ordered to pay $350,000 in restitution to investors. Without admitting or denying the allegations, the firm consented to the described sanctions and to the entry of findings that the firm
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January 27, 2012
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Blog, Securities Fraud
Wilson-Davis & Co., Inc. (CRD #3777, Salt Lake City, Utah) recently submitted an Offer of Settlement in which the firm was censured, fined $75,269, $35,269 of which represents disgorgement of the firm’s profits, and required to certify to FINRA, within 30 days, that it has reviewed its policies, systems and
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January 27, 2012
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Blog, Securities Fraud
Capital Financial Services, Inc. (CRD #8408, Minot, North Dakota) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and ordered to pay $200,000 in restitution to investors. Without admitting or denying the findings, the firm consented to the described sanctions and to the
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January 27, 2012
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Blog, Securities Fraud
Woodbury Financial Services, Inc. (CRD #421, Oak Dale, Minnesota) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $75,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that a firm registered
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January 27, 2012
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Blog, Securities Fraud
CBG Financial Group, Inc. (CRD #6578, Boca Raton, Florida) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $50,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it allowed a statutorily
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January 26, 2012
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Blog, Securities Fraud
According to an article in the Financial Post, Henry Cole, a former financial advisor for RBC, the investment banking arm of the Royal Bank of Canada, has been sentenced to two and a half years in prison on fraud charges in Ontario, Canada. Cole has reportedly “admitted to using deception and forged signatures to
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January 26, 2012
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Blog, Securities Fraud
FINRA Fines Lone Star Securities Did you lose money investing with Lone Star Securities, Inc.? If so, The White Law Group may be able to help you recover your losses. Lone Star Securities, Inc. (CRD #20452, Addison, Texas) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and
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January 26, 2012
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Blog, Securities Fraud
Brookstone Securities, Inc. (CRD #13366, Lakeland, Florida) recently submitted an Offer of Settlement in which the firm was censured and fined $200,000. Without admitting or denying the allegations, Brookstone consented to the described sanctions and to the entry of findings that registered representatives, while
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