Parallax Investments, Tri-Star Advisors Accused of Conducting Thousands of Unauthorized Trades

Parallax Investments LLC and Tri-Star Advisors, both based in Houston, were charged by the SEC along with three executives with engineering thousands of principal transactions through their affiliated brokerage firm without informing clients, and making millions of dollars as a result. One firm and its chief compliance officer was also charged with violating the “custody rule” that… Read more »

Louis Spina, LJS Trading LLC Charged with Wire Fraud

Louis Spina, a resident of Miami, Florida was arrested on November 25 and charged with collecting $18 million for a Ponzi scheme ran through his investment advisory business, LJS Trading. Spina offered investors high returns ranging from 9 percent to 14 percent a month.  Part of the investor money was siphoned and used for personal expenses including… Read more »

Derek Oglesby and Ambassador Capital Management charged with Fraud

Ambassador Capital Management and Derek Oglesby of Detroit, Michigan, were charged by the Securities and Exchange Commission with fraud for deceiving the trustees of a money market fund and failing to comply with rules that limit risk in a money market fund’s portfolio. A Money market fund is designed to maintain a stable share price… Read more »

Bio Profit, Velocity Group, Promoters Charged with $131 Million Ponzi Scheme

Velocity Investments, several Bio Profit investment funds and their organizers and promoters Michael Wang, also known as Yin Nan, and Wendy Ko, have been charged with running a Ponzi scheme which had a total take estimated at $131 million. Yin Nan, a.k.a. Michael Wang and Wendy Ko have raised funds from approximately 2,000 investors by selling promissory notes issued via the Velocity Investment Group,… Read more »

Maxum Gold Bank, FMP Medical, Organizers Accused of Orchestrating Ponzi Scam

Christopher A.T. Pedras, Sylvester M. Gray II and Alicia Bryan were charged by the SEC with using Maxum Gold Bnk Holdings Ltd, Maxum Gold Bnk Holdings LLC, FMP Medical Services Limited, and FMP Medical to perpetrate a Ponzi scheme. To limit the damages caused by the alleged Maxum Gold scheme, the SEC announced an emergency… Read more »

Invictus Capital, John Carris Investments and George Carris Investigated

Invictus Capital, John Carris Investments, and George Carris are being investigated by the securities attorneys at the Peiffer Rosca law firm, for alleged violations of the securities laws and regulations in connection with the sale of Invictus Capital securities to their customers. John Carris Investments, a securities broker-dealer firm, and George Carris, its principal and owner, have been… Read more »

Underwriter of Municipal Bonds Issued by Washington’s Wenatchee Valley Region Investigated

The underwriter of a municipal bond offering conducted by Washington State’s Greater Wenatchee Regional Events Center Public Facilities District is being investigated by the securities lawyers at the Peiffer Rosca law firm, for its role in the promotion of that offering. The Greater Wenatchee Regional Events Center Public Facilities District offered a series of municipal bonds to finance the construction of… Read more »

Richard Schwartz Fraud Recovery Options for Investors

Richard Schwartz, an investment advisor formerly in Kokomo, Indiana, has been accused by regulators of perpetrating a fraudulent investment scheme that victimized scores of investors across the country, under the umbrella of RAS & Associates, his investment advisory firm. Richard Schwartz was a licensed securities stockbroker, affiliated with securities broker-dealer firms throughout his career, according to regulatory… Read more »

Christopher Linton Indicted for Integrity Capital Alleged Fraud

Christopher Shawn Linton, a former Alabaster, Alabama attorney, was indicted for organizing an allegedly fraudulent investment scheme known as Integrity Capital, in the greater Birmingham area. Chris Linton was charged with perpetrating a securities fraud scheme as well as bank fraud, through Integrity Capital, a factoring business.  Linton purchased stock in Integrity Capital in 2007 and became the company’s officer and… Read more »