Recent Articles

SEC Freeze Assets in Alleged Diamond-Themed Ponzi Scheme

December 06, 2010 15:56

The SEC alleges that Richard Dalton and Universal Consulting Resources LLC (UCR) raised approximately $17 million from investors for two fraudulent offerings. The programs were generally referred to as the “Trading Program” and the “Diamond Program.” See the SEC press...The SEC alleges that Richard...

Arbitrators Award Ten Times Amount of Investment in Auction Rate Securities Case

September 28, 2010 15:42

Last month an arbitration panel ordered the investment firm USB financial to pay over $80 million in consequential investments to Kajeet, Inc., a company who markets cellphones for kids. Kajeet’s award fell short of the $110 million requested but was...Last month an arbitration panel ordered the...

Raymond James Must Buy Back Auction Rate Securities

August 30, 2010 19:07

A Texas couple got some great news last week from the FINRA arbitration panel that ruled on their claim. The panel ruled that the Raymond James Financial Inc. and broker Larry Milton must buy back some $925,000 worth of auction...A Texas couple got some great news last week from the...

Texas Billionaire Brothers Respond to SEC

August 24, 2010 18:21

Last month two billion brothers from Texas were hit with a securities fraud lawsuit by the SEC alleging that the brothers attempted to hide $550 million in trading profits. The Wylys brothers were accused by the SEC of using sham...Last month two billion brothers from Texas were hit with a...

BP Securities Lawsuits Heading to Houston

August 20, 2010 21:41

By now I am sure that everyone knows about the thousands of claims BP is facing over property damage and loss of income resulting from the massive oil spill that released millions of gallons oil into the Gulf of Mexico,...By now I am sure that everyone knows about the thousands of claims BP is...

Barclay’s Agrees to Pay $298 Million for Evading U.S. Sanctions

August 18, 2010 15:54

The London-based Barclays Bank has agreed to pay $298 million to settle criminal charges for helping banks in Iran, Cuba, Libya, Mayanmar, and Sudan evade U.S. economic sanctions. See the WSJ article here. According to prosecutors, bank employees deleted and...The London-based Barclays Bank has...

6 Ways to Avoid Mortgage and Insurance Broker Fraud

August 10, 2010 20:23

You can’t start and finish the home-buying process overnight. Rushing through the steps isn’t recommended either, since buying a home is one of the biggest investments of your life. One of the keys to buying a home is financing it....You can’t start and finish the home-buying process overnight....

Goldman Reaches Deal with SEC, but Who is the Big Winner?

July 19, 2010 18:36

The deal the between Goldman and the SEC is done. And as with any settlement the question we want answered is, “who came out on top?” And the winner is … everybody and nobody. The general consensus is that neither...The deal the between Goldman and the SEC is done. And as with any settlement the...

Goldman and SEC Close to Settlement?

July 16, 2010 19:27

Not quite, but according to a WSJ piece the SEC has been having discussions about resolving the fraud lawsuit brought against Goldman this spring. A settlement idea was apparently floated by Goldman, and they seemed to very interested in ending...Not quite, but according to a WSJ piece the SEC has...

Victory at Last for Non-Profit in Securities Lawsuit

June 18, 2010 19:44

Last July the Financial Industry Regulatory Authority (FINRA) awarded the non-profit religious book distributor United Prison Ministries $220,000 plus interest for losses suffered after investing in Morgan Keegan bond funds. Finally, they will getting the funds they deserve after an... Last July...