Kevin White Pleads Guilty to Mail Fraud

Kevin G. White, a 54-year old Plano, Texas resident, has pled guilty to federal violations in the Eastern District of Texas in connection with his Revelation Forex Fund scheme, according to the U.S. Attorney’s office. White pled guilty to committing mail fraud in relation to a commodity trading fraud scheme before U.S. Magistrate Judge Don D. Bush. Kevin… Read more »

Robert Helms, Janniece Kaelin, and Vendetta Royalty Partners Accused of Ponzi Scheme

Robert A. Helms and Janniece S. Kaelin perpetrated a Texas-based Ponzi scheme through their partnership, Vendetta Royalty, and sold fraudulent investments in oil and gas projects, the SEC charged. Helms and Kaelin, working out of an Austin office, allegedly deceived investors into believing that they had extensive oil-and-gas industry experience and raised nearly $18 million for supposed purchases of oil-and-gas royalty interests…. Read more »

Robert Rocco Charged with Orchestrating $5 Million Ponzi Scheme

Robert Rocco, 48, has been charged in a 14-count indictment filed in a New York federal district court with fraud regarding a series of business ventures he created. Rocco was recently arrested and arraigned before the Honorable Leonard Wexler in the Federal Courthouse in Central Islip. Rocco, while acting as the Dix Hills Soccer Club president, solicited club members, volunteers,… Read more »

Senen Pousa and Investment Intelligence Corporation Ordered to Pay Over $192 Million in Restitution

Senen Pousa and the Investment Intelligence Corporation (IIC) were ordered by a Texas federal court to pay defrauded customers restitution and civil monetary penalties in the amount of more than $192 million, following a default judgment obtained by the Commodity Futures Trading Commission (CFTC). The case against Pousa and IIC arose in connection with an off-exchange foreign currency forex fraud scheme where Pousa and IIC defrauded… Read more »

Fotios Geivelis – Worldwide Funding Charged with Fraud

Fotios Geivelis, Jr., a Florida resident, cheated approximately 45 investors out of more than $3.9 million between April, 2012 to September, 2013, according to an indictment recently unsealed in Pittsburg federal court. A Pittsburgh federal grand jury indicted Fotios Geivelis, Jr. with 13 counts of wire fraud. He was arrested on Tuesday and the government is asking… Read more »

J.P. Turner Ordered by FINRA to Pay Clients Over $700,000 in Restitution for Unsuitable ETFs

J.P. Turner & Company, L.L.C. an Atlanta-based brokerage was ordered by the Financial Industry Regulatory Authority (FINRA) to pay $707,559 as restitution to 84 of its customers. The firm was found by FINRA to have made excessive mutual fund switches as well as engaged in numerous sales of unsuitable leveraged and inverse exchange-traded funds (ETFs)…. Read more »

National Planning Ordered to Pay $6.2M in Arbitration Award

National Planning Corp. (NPC), a leading independent broker-dealer and a subsidiary of National Planning Holdings, Inc., a network of four broker-dealers affiliated with Jackson National Life Insurance Co., was ordered to pay $6.2 million in arbitration award to Minnesota investors Ronnie and Stacy Erickson over a real estate investments trust dispute. The award issued on November 18,… Read more »

Abdul Walji, Reniero Francisco, Arista LLC Charged with Multi-Million Dollar Fraud Scheme

Abdul Walji and Reniero Francisco, the chief executive officer and president, respectively, of Arista LLC, a Newport Coast, California investment firm, were arrested in their homes and charged with fraud. A six-count criminal complaint for defrauding their investors and for misappropriation of millions of dollars, was filed against them according to U.S. Attorney for the Southern District of… Read more »

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 »