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July 29, 2013
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Blog, Securities Fraud
This past month a number of large brokerage firms have expressed concerned over some REIT offerings. In an earlier post, here, Advisor Group announced that the company would no longer sell Cole Credit Property Trust III, citing the a management’s decision to pay itself and founder Chris Cole a $127 million fee. In
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July 29, 2013
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Blog, Securities Fraud
According to the Daily News, New York broker Ronen Zakai was indicted on securities fraud and grand larceny for stealing approximately $705,000 from five clients. According to the report, investors allegedly thought they were investing in the initial public offering (IPO) of Facebook, however their money was never
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July 26, 2013
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Blog, Securities Fraud
According to Investment News, some investors are suing independent broker dealer, Berthel Fisher & Co. Financial Services, for failure to perform adequate due diligence on the TNP 2008 Participating Notes Program. In addition, the claim alleges that Berthel Fishers failed to make the necessary disclosures to
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July 26, 2013
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Blog, Securities Fraud
Reef Oil and Gas Income & Development Fund Investigation The White Law Group is investigating the Reef Oil & Gas Income & Development Fund. Recently some investors received a letter announcing that the Fund is planning on selling all their assets and dissolving the partnership. This is troubling news for
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July 26, 2013
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Blog, Securities Fraud
More bad news in yet another Reef Oil & Gas Partnership. In a letter sent to investors, Reef Oil & Gas Income & Development Fund II (Fund II) plans to sell 32 wells that have been unprofitable and focus on the development of approximately 2,100 wells known as the Azalea package. Though the Azalea package
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July 25, 2013
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Blog, Securities Fraud
According to The Enquirer, former broker and Cincinnati investment fund manager, Glen Galemmo, is being sued by investors for allegedly operating a Ponzi scheme in the guise of a hedge fund. Investors claim to have lost tens of millions of dollars as a result of their investments with Galemmo. The lawsuit was filed
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July 24, 2013
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Blog, Securities Fraud
According to a press release provided by the Minnesota US attorneys office, former broker Jason Bo-Alan Beckman was sentenced to 30 years in federal prison as a co-conspirator in a $190 million Ponzi scheme. Beckman received the longest sentence of the five men involved in the scam. He was convicted of multiple
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July 23, 2013
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Blog, Securities Fraud
A former broker and financial advisor with Wells Fargo has been indicted for fraud by a federal grand jury in San Francisco. Adorean Boleancu was charged with allegedly forging approximately $1.8 million in checks from an elderly clients account. According to Bay Side News, the indictment alleges that Boleancu wrote
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July 18, 2013
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Blog, Securities Fraud
Have you suffered losses as a result of an investment in Cole Real Estate Investments, formerly, Cole Credit Property Trust III? If so, the attorneys of The White Law Group may be able to helps. According to their website, Cole Real Estate Investments owns over 1,000 properties throughout the US with over $7 billion
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July 17, 2013
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Blog, Securities Fraud
The Securities and Exchange Commission’s (SEC) recent rule change that lifts the longtime ban on the advertising of private placements has many investor protection groups concerned. Under the new SEC rule, hedge funds and other firms will be able to widely solicit investors for private placement offerings. The
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