Finra Arbitrators Let Thousands of Brokers Purge Infraction Records

Published by The Wall Street Journal By Jean Eaglesham and Coulter Jones Nov. 17, 2018 8:00 a.m. ET — Brokers with scrubbed records are more likely to generate complaints, two academics found Thousands of brokers have scrubbed their records clean of complaints by customers and employers, allowing them to hide information from potential investors, according to a new… Read more »

Frank Mazzola and Felix Investments, LLC — Alleged Sales of Securities by an Unregistered Representative

Frank Mazzola Headed up Saddle River Advisors, an Entity which Allegedly Raised over $53 million from Investors in Pre-IPO Tech Firms; Mazzola Allegedly Sold Securities in an Unregistered Capacity Frank Mazzola, of Upper Saddle River, N.J, has been charged with alleged participation in the sale of securities while being unregistered, according to an SEC Reports… Read more »

Renwick Haddow & Bar Works — Alleged Ponzi Scheme

JPMorgan Chase & Co. & JPMorgan Chase Bank, N.A. Allegedly Aided and Abetted Renwick Haddow and His Purportedly Fraudulent Ponzi Scheme; 27 Chinese Investors Suing JPMorgan for a Total of $3,050,000 in Damages and Requesting the Bank Provide Them with Data Related to Bar Works & Renwick Haddow JPMorgan Chase & Co. and JPMorgan Chase… Read more »

BitConnect — Alleged Ponzi Scheme

BitConnect Lending and Exchange Operations Shut Down after Allegedly Being Confirmed as a a Pyramid Scheme BitConnect was widely seen as a rather controversial investment and many allegedly speculated that it was a fraud or a Ponzi scheme. Recently, said speculation was verified when BitConnect’s lending and exchange operations were shut down and a temporary… Read more »

Terrance Taylor— Alleged Investment Fraud

Terrance F. Taylor, Former Executive VP of Savtira Corp. Allegedly Participated in a $5.3 Million Investment Fraud that Purportedly Made Exaggerations of the Company’s Supposed Value, Reportedly Putting it between $450 and $540 Million Despite Meager Earnings Terrance Taylor, who was executive vice president of Savtira Corp., a now-defunct e- commerce company, allegedly participated in a $5.3M investment fraud… Read more »

Ray Davis & Behavioral Recognition Systems, Inc. (BRS) — Alleged Fraudulent Scheme Involving Material Misrepresentations

Ray C. Davis and Behavioral Recognition Systems, Inc., or BRS, Allegedly Solicited over $28 Million from Investors in Seven Equity Offerings between January 2013 and July 2015 Ray Davis and Behavioral Recognition Systems, Inc., or BRS, allegedly solicited over $28 million from investors in seven equity offerings between January 2013 and July 2015, according to… Read more »

Craig Lewis — Alleged Undisclosed Business Activity

Craig Edward Lewis May Have Allegedly Engaged in Undisclosed Outside Business Activity by Making Sales of Equity Indexed Annuities through a Third-party Life Insurance Firm to Many Customers of His Member Firm Craig Lewis, a former Valic broker, allegedly engaged in undisclosed outside business activity by making sales of equity indexed annuities via a third-party… Read more »

David Lee Reynolds — Alleged Misappropriation of Customer Funds

David Lee Reynolds Allegedly Misappropriated Customer Funds as Reported on an Amended Form U5 by his Former Member Firm David Lee Reynolds allegedly misappropriated customer funds reported on an amended Form U5 by his former member firm, according to a recent Letter of Acceptance, Waiver, and Consent (AWC) presently being reviewed by attorneys Jason Kane… Read more »

Paul Smith — Investment Advisory Fraud

Paul W. Smith, an Ex-broker, Allegedly Operated a Decades Long Investment Advisory Fraud Raising Approximately $2.35 Million from Roughly 30 Investors; Smith Allegedly Claimed He would Invest in Securities but then Purportedly Used the Money for Personal Use or to Repay other Investors Ex-broker Paul Smith, from 1991 to 2016, allegedly raised approximately $2.35 million… Read more »

Woodbridge Group & Robert Shapiro — Alleged Ponzi Scheme

SEC Sues Woodbridge Group, Robert Shapiro for Allegedly Operating $1.2 Billion Ponzi Scheme which Purportedly Targeted Main Street Investors The U.S. Securities and Exchange Commission recently announced charges and an asset freeze against Woodbridge Group and Robert Shapiro who allegedly operated a $1.2 billion Ponzi scheme that purportedly bilked thousands of retail investors, according to an SEC Complaint currently under review by attorneys… Read more »

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