Patricia S. Miller (“Miller”), a former representative of Investors Capital Corp. (“ICC”) and Janney Montgomery Scott (“Janney”), was indicted on charges of orchestrating a $2.5 million fraud of 20 clients beginning in 2002. According to the Criminal Complaint issued by…
The Securities and Exchange Commission (“SEC”) has filed fraud charges in the U.S. District Court for the Northern District of Illinois against the City of Harvey, Illinois and its comptroller, Joseph Letke (“Letke”). The City of Harvey has been accused…
A landmark case of whistleblower anti-retaliation enforcement has recently been settled between the Securities and Exchange Commission (“SEC”) and the advisory firm Paradigm Capital Management (“Paradigm”) and Candace King Weir (“Weir” the majority owner of paradigm) in the first case…
The Securities and Exchange Commission (“SEC”) recently charged Rafferty Capital Markets (“Rafferty”) with illegally facilitating trades for an unregistered broker-dealer. A May 15, 2014 SEC press release details how Rafferty settled an SEC-charged penalty of $850,000 for perpetrating “illegally arranged…
The Legal Tip for Jacko Law Group titled Continued Focus On Valuation Remains An Sec Priority was written in June, 2014.… Read More
An important and pervasive online tool has been used to lure investors to a new Ponzi scheme, according to the Securities and Exchange Commission (“SEC”). In a press release dated April 8, 2014, the SEC alleges that Joseph Signore of…
The securities industry became privy once again to a form of manipulative trading – termed “layering” or “spoofing” – through the Securities and Exchange Commission’s (“SEC’s”) recent charges against the Holmdel, N.J.-based firm Visionary Trading, LLC (“Visionary”). According to the…
A St. Petersburg, Florida-based financial services firm was recently charged with inappropriately-calculated fee discounts and inadequate policies and procedures (“P&P”). Charges were filed against Transamerica Financial Advisors (“Transamerica”) by the Securities and Exchange Commission (“SEC”) at the beginning of April…
The ripple effects of the 2008/2009 financial crisis still echoes throughout most US industries today. Fraudulent acts of certain “bad actors” – both individuals and firms in the financial industries during this time – are also still being discovered today….
As an Arizona-based private equity fund and its manager discovered at the end of February 2014, paying one’s expenses with client’s assets is both problematic and liable to receive prosecution by the Securities and Exchange Commission (“SEC”). Clean Energy Capital,…