Have you suffered losses as a result of your investment in an Inofin offering or Inofin promissory note? If so, the securities attorneys of The White Law Group may be able to help.
The Securities and Exchange Commission recently announced that final judgments were entered on July 23 and 24, 2012 in its civil injunctive action against Kevin Mann, Sr., and Michael J. Cuomo, filed in the United States District Court of Massachusetts.
The SEC’s complaint against these individuals alleged that Inofin and its executives illegally raised at least $110 million from hundreds of investors in 25 states and the District of Columbia through the sale of unregistered notes. According to the SEC’s complaint, Inofin also materially misrepresented how Inofin was using investor money and the company’s financial performance.
The SEC also charged two sales agents – David Affeldt and Thomas K. (Kevin) Keough – alleging that they promoted the offering and sale of Inofin’s unregistered securities.
According to his FINRA Broker Report (CRD), Mr. Keough was registered with FINRA broker-dealers during much of the relevant time period. As such, to the extent that you purchased an Inofin investment at the recommendation Mr. Keough or another FINRA registered financial advisor, you may be able to recover your losses through FINRA arbitration.
When a FINRA affiliated broker conducts business outside of the firm with whom he is registered the activity may be considered “selling away.” If a registered broker “sells away” from his firm, the firm may still be liable for negligent supervision of their broker representative and may be responsible for investment losses in a FINRA dispute resolution claim.
To discuss your litigation options, please call the securities attorneys of The White Law Group at 312-238-9650 for 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, please visit our website at https://www.whitesecuritieslaw.com.