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August 31, 2012
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Blog, Securities Fraud
The Financial Industry Regulatory Authority (FINRA) recently announced that it has fined Rodman & Renshaw LLC $315,000 for supervisory and other violations related to the interaction between the firm’s research and investment banking functions. Rodman & Renshaw, LLC is a New York-based broker-dealer
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August 30, 2012
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Blog, Securities Fraud
According to a report in Financial Advisor magazine, the Certified Financial Planner Board revoked the Certified Financial Planner mark rights of the following advisors: • James A. Avery, Jr., Mechanicsville, Va., based on a 2006 federal tax lien, a 2004 insurance license suspension; Chapter 13 bankruptcy filings in
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August 29, 2012
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Blog, Securities Fraud
According to reports, another non-traded REIT, Cole Credit Property Trust II, is in the beginning stages of initiating its “exit event,” wherein a non-traded REIT either sells its assets or does an initial public offering. Several other non-traded REITs have gone through their “exit events” recently and most
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August 28, 2012
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Blog, Securities Fraud
According to reports in Reuters, Merrill Lynch has agreed to a proposed $40 million class action settlement with 1,400 brokers over deferred compensation it refused to pay them after its merger with Bank of America. But the proposed deal may still leave roughly 2,000 brokers to battle privately against the brokerage.
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August 28, 2012
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Blog, Securities Fraud
Icon Leasing Fund Eleven Investment Losses We continue to receive calls from people concerned about their Icon Leasing Fund Eleven investments, particularly in light of the recent announcement that people will not be able to get their money out of Icon for several more years than was originally anticipated. ICON
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August 23, 2012
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Blog, Securities Fraud
According to a recent survey of 2,649 financial planners conducted by the nonprofit organization Certified Financial Planner Board of Standards, seniors who become victims of financial abuse lose an estimated $104,500. The CFP Board survey was conducted in response to the Consumer Financial Protection Bureau’s
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August 23, 2012
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Blog, Securities Fraud
According to a report in the Investment News, Behringer Harvard Holdings LLC, the real estate investment firm, is about to drop a bombshell on its clients: Behringer Harvard Strategic Opportunity Fund I is under water. Launched in 2005, the Behringer Harvard Strategic Opportunity Fund I raised $65 million and invested
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August 20, 2012
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Blog, Securities Fraud
Have you been defrauded by Merrill Lynch financial advisor James Ryan Lanier? If so, the securities attorneys of The White Law Group may be able to help. It is being reported that James Ryan Lanier, 33, was arrested in San Diego, California, on fraud, money laundering, and identity theft charges relating to the
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August 16, 2012
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Blog, Securities Fraud
On August 15, 2012, the Securities and Exchange Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Section 203(f) of the Investment Advisers Act of 1940 and Notice of Hearing against Omar Ali Rizvi (Order). The Order is based on the
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August 15, 2012
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Blog, Securities Fraud
According to reports, Wells Fargo has agreed to pay $6.5 million to settle SEC charges that its brokerage firm improperly sold mortgage-backed securities to municipalities, non-profits and other customers. The SEC alleged in charges it recently filed that Wells Fargo sold the securities — which were the focal
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