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August 14, 2012
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Blog, Securities Fraud
According to reports, Milkie/Ferguson Investments Inc., a small broker-dealer that was a big seller of fraudulent Provident Royalties LLC private placements, has shut down. Apparently, the vast majority of the registered representatives with Milkie/Ferguson will transfer to Berthel Fisher & Co. Financial Services
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February 21, 2011
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Blog, Securities Fraud
According to the Investment News, three independent broker-dealers are suing their respective insurance carriers for failing to cover investors’ legal claims, with one charging that its insurer has exposed it to “financial ruin.” The broker-dealers, Next Financial Group Inc., Berthel Fisher & Company
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February 15, 2011
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Blog, Securities Fraud
According to Investment News, a broker-dealer that was a prominent seller of high-risk private placements that wound up going bust has almost wiped the slate clean of costly litigation that could have impaired the firm’s financial condition. Workman Securities Corp. this month reached an agreement with the
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February 3, 2011
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Blog, Securities Fraud
Broker-dealer sales of opaque and illiquid private investments are squarely in the sights of securities regulators at the Financial Industry Regulatory Authority Inc. In fact, Regulation D private placements and “close cousin” non-traded real estate investment trusts are listed as the first and second areas of
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January 21, 2011
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Blog, Securities Fraud
Private Placements have become a hot button issue for FINRA regulators and securities attorneys representing investors. The number of private placement cases has spiked considerably over the past few years in large part because of the sizable commissions brokerage firms generate from selling private placements. We
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December 20, 2010
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Blog, Securities Fraud
According to the Business Record, DeWaay Financial Network LLC of Clive and three other Iowa investment brokers are among 49 firms that have been sued in connection with the bankruptcy of a company accused of running a $485 million Ponzi scheme involving allegedly bogus oil and gas investments. Provident Royalties
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November 2, 2010
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Blog, Securities Fraud
The White Law Group is investigating securities fraud claims involving Provident Royalties, LLC. Specifically, the firm is investigating whether the broker-dealers that recommended Provident Royalties failed to perform the necessary due diligence prior to recommending the investment for sale to its clients. More
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