Brian Callahan Pleads Guilty to Securities Fraud as a Result of a $96 million Ponzi Scheme

Brian R. Callahan pled guilty to securities fraud and wire fraud for operating a $96 million Ponzi scheme through various offshore investment funds. Callahan used six offshore entities to perpetrate the investment fraud. Instead of investing his clients’ funds, he used the money to support a lavish lifestyle and operate a multi-million dollar Ponzi scheme…. Read more »

Harry Stokes Accused of Orchestrating Ponzi Scheme in North Carolina

Harry Stokes, an insurance broker who worked in Monroe, North Carolina, orchestrated a Ponzi scheme that defrauded investors out of millions, according to a complaint filed in a North Carolina state court. Securities attorneys Joe Peiffer and Jason Kane are investigating the matter. Stokes was the owner of Contemporary Benefits Design, an insurance firm located… Read more »

SEC Accuses William Dean Chapman, Jr. of Operating a Fraudulent Loan Business

William Dean Chapman, Jr. and his companies, Alexander Capital Markets, LLC and Alexander Financial, LLC, operated a fraudulent stock-collateralized loan business, according to a complaint filed by the Securities and Exchange Commission (SEC). The Peiffer Wolf securities practice lawyers Jason Kane and Joe Peiffer are investigating the matter and have reached out to investors who… Read more »

Investors Beware of Movie Investment Opportunities

Samuel Braslau, Rand Jay Chortkoff, and Stuart Rawitt defrauded investors by encouraging them to invest in a movie project that involved well known movie stars and purported to generate substantial investment returns, according to allegations in a complaint filed by the Securities and Exchange Commission. Braslau organized Mutual Entertainment LLC and Film Shoot LLC to… Read more »

Michael Brendan Ferguson, ATM Scheme Investigated by Securities Lawyers

Michael Brendan Ferguson perpetrated a Ponzi scheme that cost victims more than $10 million in connection with investments involving automatic teller machines (ATMs), according to charges brought against Ferguson.  Ferguson is charged with nine felonies, including securities fraud and grand theft. Attorneys Jason Kane and Joe Peiffer, in the Peiffer Wolf law firm’s securities practice,… Read more »

Fifth Third Bank, PNC Bank, and U.S. Bank Accused of Aiding Glen Galemmo’s Queen City Alleged Ponzi Scheme

Fifth Third Bank, PNC Bank, and U.S. Bank have been sued by investors in Glen Galemmo’s alleged Ponzi scheme and accused of aiding and abetting Galemmo scheme. The Peiffer Wolf securities lawyers have been investigating the Galemmo alleged scheme on behalf of victimized investors. Glen Galemmo, former principal of Queen City Investments, has been accused… Read more »

Barbara Alexander, Michael Swanson, Beth Pina Convicted for Ponzi Scheme

Barbara Alexander, her partner Michael Swanson, and their associate, Beth Pina, were convicted of mail fraud, securities fraud, money laundering and conspiracy, for defrauding investors into investing in “Money Dots.” Alexander faces federal imprisonment after a jury convicted her of 28 counts of felony involving a $4 million Ponzi scheme, according to court documents. Alexander,… Read more »

Michael DeRosa Barred from Securities Industry in Connection with Success Trade Note Sales

Michael Andrew DeRosa, an investment professional, has been permanently barred from the securities industry by the regulators for his alleged participation in the sale of promissory notes issued by Success Trade Securities. Michael DeRosa’s case is related to an earlier regulatory case currently pending against Success Trade Securities and its CEO, Fuad Ahmed, arising out of their alleged… Read more »

Fleet Mutual Wealth, MWF Operating Pyramid Scheme, Regulators Charge

Fleet Mutual Wealth Limited and MWF Financial Limited (collectively known as Mutual Wealth) operate an emerging, fraudulent pyramid scheme masquerading as an international investment firm, according to a complaint filed by the Securities and Exchange Commission. Through its website, social media accounts, and numerous promoters, Mutual Wealth has made and continues to make numerous fraudulent… Read more »

Ron McCullough and David Mayhew Charged with Fraud

Ron E. McCullough and David C. Mayhew (also known as David Mahew) defrauded investors in connection with leveraged or margined off-exchange foreign currency (forex) trading, according to a complaint filed by the United States Commodity Futures Trading Commission (CFTC). McCullough and Mayhew oversaw the fraudulent solicitation of approximately $2.3 million from at least 11 investors… Read more »