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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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October 1, 2012
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Blog, Securities Fraud
Fifth Third Securities, Inc. (CRD #628, Cincinnati, Ohio) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $80,000, ordered to pay $26,876.52, plus interest, in restitution to investors, and to revise the firm’s WSPs regarding step-out transactions. Without
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March 26, 2012
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Blog, Securities Fraud
According to the Cincinnati Business Courier, Elliot Kravitz, a financial advisor in Mason, Ohio, recently pleaded guilty to one count of wire fraud for an investment scheme in which he defrauded nine of his customers out of more than $2 million. Kravitz could face up to 20 years in prison and a fine of up …
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