Mark Talley Barred from the Securities Industry

Mark R Talley has been barred from associating with any securities broker-dealer firm following allegations by the securities regulators that he provided false information to a customer and provided false answers to FINRA and failing to appear for testimony. Talley consented to the sanctions, without denying or admitting the allegations in the regulators’ complaint against… Read more »

Florelena Cortez Sanctioned by Regulators

Florelena Cortez was sanctioned by the securities regulators in connection with her alleged solicitation of four customers to invest in securities that were not approved by her employer. Cortez was suspended from associating with any securities broker-dealer firm as a result of her alleged wrongdoing. She consented to the sanctions and did not deny or… Read more »

FINRA Aims for Greater Transparency in Non-traded REIT Statements

New rule changes proposed by the securities industry regulators, if adopted, would give investors a truer picture of the costs to buy shares of non-traded real estate investment trust (REITs). The Peiffer Wolf securities lawyers often represent investors in non-traded REITs in cases arising out of unsuitable sales of such products to investors or out… Read more »

Jeffrey Wilson, Imperial Petroleum’s CEO, Accused of Misconduct in Connection with E-Biofuels

Jeffrey Wilson, CEO of Imperial Petroleum Inc. signed an annual report in 2011 showing company revenues ballooning to $110 million from the previous year’s $5.7 million, according to allegations by Federal Prosecutors. According to Wilson this growth was caused by the buy-out of E-Biofuels LLC. E-Biofuels reportedly accounted for 99.6 percent of Imperial’s revenue. This… Read more »

Brokerage Firms Sanctioned for Non-traded REIT Sales Practices

Berthel Fisher & Company Financial Services, Inc. (Berthel Fisher) and its affiliate, Securities Management & Research, Inc. (SM&R), both headquartered in Marion, Iowa, were recently sanction by securities regulators. The Financial Industry Regulatory Authority (FINRA) fined the two entities a combined $775,000, in part, for supervisory deficiencies concerning the sale of non-traded real estate investment… 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 »

Jason Juberg and Others Plead Guilty and Act as Witnesses in the Prosecution of David McQueen

Jason Eric Juberg, a Michigan resident, pleaded guilty to charges involving the sale of unregistered securities and was sentenced to 5 years imprisonment, in connection with the allegedly fraudulent investment scheme perpetrated by David Wilson McQueen. The case against his father, Donald Juberg, will be dismissed as part of a plea bargain whereby both will testify against David McQueen, the… Read more »

Family Court Judge Steven Jones’ Fraud Hearing Delayed

Steven Jones, a suspended Family Court Judge, with the other defendants is given another three months before facing a jury of his peers for his federal fraud case. Jones along with five other defendants, including Thomas Cercle, his former brother-in-law, were indicted by federal grand jury for a $3 million investment fraud as alleged by the… Read more »

Scott Summerhays Pleads Guilty to Fraud in Golf Course Scheme

Scott H. Summerhays managed to convince 11 persons to loan him a total of $3.6 million to purchase a golf course, giving out false promises and using a false identity. Summerhays pleaded guilty to 24 Federal felony charges, according to Daniel G. Bogden, United States Attorney for the district of Nevada. Summerhays, 55, formerly from South… Read more »

Trendon Shavers and Bitcoin Savings and Trust involved in first ever Bitcoin Ponzi

Trendon Shavers of McKinney, Tx., has been charged with what appears to be the first case of ponzi schemes that involves Bitcoins, otherwise known as digital currency. Bitcoins are a form of crypto-currency that is not backed by any national government. The mechanics of Bitcoins, their valuation and exchange is not fully understood by laypersons. Shavers is… Read more »