Adorean Boleancu Sentenced to Prison for Stealing $1.8m from Elderly Investor

Adorean Boleancu, 47, of Napa, a former financial advisor and a former vice president at Morgan Stanley & Co. and Wells Fargo Advisors, admitted to forging an elderly client’s name on $1.8 million worth of checks. Boleancu was sentenced in California federal district court to one year and eight months in prison and ordered to pay… Read more »

Glen Galemmo Agrees to Plead Guilty to Wire Fraud and Money Laundering

Glen Galemmo, a Cincinnati investment advisor and founder of Queen City Investment Fund, agreed to plead guilty to wire fraud and money laundering charges. He was charged with running a massive Ponzi scheme promising investment returns would reach more that 400% annually. Between 50 and 200 investors allegedly lost between $7 million and $20 million from Galemmo’s scheme… Read more »

Peiffer Wolf’s $5 Million Award on Behalf of Investors Including Miss Venezuela Featured in the WSJ

Attorney Joe Peiffer, managing member of the Peiffer Wolf law firm, was recently quoted in the Wall Street Journal.  Mr. Peiffer represented a group of investors, including blue-collar workers and retirees, who lost their life savings in an investment program. One of the investors represented by attorney Peiffer was actress and singer Maria Conchita Alonso,… Read more »

Philip Leon, Paul Rangel Sanctioned for Fraud and Misappropriation

Philip Leon of Altamonte Springs, Florida, and Paul Rangel of Apopka, Florida, were ordered to pay more than $8 million in sanctions for commodity pool fraud and misappropriation.  Leon pleaded gilty to mail and wire fraud. Both Leon and Rangel were permamently barred from trading and committing further violations of the Commodity Exchange Act and a CFTC Regulation.  The two investment professionals also… Read more »

Financial Advisor for Movie Stars Barred from Securities Industry

Bambi Holzer, a financial broker known for serving Hollywood’s rich and famous, has been barred by the Financial Industry Regulatory Authority (“FINRA”). According to FINRA, and the Acceptance, Waiver and Consent (“AWC”) which Ms. Holzer signed, Ms. Holzer misrepresented several clients’ net worth to her brokerage firm in order to sell them shares of Provident Royalties, a program which… Read more »

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 »