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January 11, 2011
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Blog, Securities Fraud
According to the New York Post, in May 2010, FINRA accused Long Island brokerage firm David Lerner Associates and its head trader, William Mason, of charging customers “excessive” markups on normally safe municipal bonds and high-grade mortgage-backed securities. According to the FINRA complaint, David
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January 4, 2011
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Blog, Securities Fraud
A former Smith Barney financial adviser in New York has plead guilty to attempting to defraud a client of more than $3 million. According to Reuters, Federal prosecutors have said that Sanjeev Jayant Kumar Shah admitted to sending false documents in March 2009 that authorized Smith Barney to transfer $3.25 million
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September 30, 2010
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Blog, Securities Fraud
In February 2010, the Financial Industry Regulatory Authority (FINRA) announced that it had fined Penson Financial Services, a Dallas-based securities clearing firm, $450,000 for failing to establish and implement an adequate anti-money laundering (AML) program to detect and trigger reporting of suspicious
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August 31, 2010
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Blog, Securities Fraud
Whether you realized it at the time or not, when you established your brokerage account, you likely entered into an arbitration provision that provides that if you have a dispute with your broker you agree to waive your right to bring that claim in Court and to arbitrate that dispute through FINRA’s Dispute
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August 27, 2010
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Blog, Securities Fraud
Whether you realized it at the time or not, when you established your brokerage account, you likely entered into an arbitration provision that provides that if you have a dispute with your broker-dealer you agree to waive your right to bring that claim in Court and to arbitrate that dispute through FINRA’s Dispute
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August 18, 2010
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Blog, Securities Fraud
The White Law Group is investigating a possible securities fraud claim on behalf on an investor involving Northern Trust Securities, Inc. / Vision Investment Services, Inc. financial advisor Marc Brock. Specifically, we are investigating whether Northern Trust / Vision Investment Services failed to supervise Brock’s
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July 16, 2010
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Blog, Securities Fraud
The White Law Group is investigating the sales practices of brokerage firms and insurance companies that market and sell equity indexed annuities to retired or elderly investors. Indexed Annuities are annuities that are typically tied to a particular stock market index such as the S&P 500 or the Dow Jones
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July 16, 2010
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Blog, Securities Fraud
The White Law Group is investigating possible securities fraud claims involving the Oppenheimer Champion Income Fund (OCHBX, OPCHX and OCHCX) and the Oppenheimer Core Bond Fund (OPIGX). Although marketed to investors as conservative investments, the Champion Fund and Core Bond Fund were extremely risky ventures,
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July 14, 2010
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Blog, Securities Fraud
A real estate investment trust or REIT is a tax designation for a corporation investing in real estate that reduces or eliminates corporate income taxes. In return, REITs are required to distribute 90% of their income, which may be taxable, into the hands of the investors. The REIT structure was designed to provide a
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June 30, 2010
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Blog, Securities Fraud
FINRA recently announced that Shawn Patrick Casuccio, a former financial advisor with Metlife Securities in Morgantown, West Virginia, has been barred from association with any FINRA member in any capacity. The sanction was based on findings that Casuccio made material misrepresentations to induce customers to invest
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