Dunya Predovan, Who Claimed to Have Ties to George Soros, Sentenced to Five Years in Prison After Orchestrating a Ponzi Scheme

Dunya Predovan, of Manahawkin, New Jersey, was sentenced to five years in prison and ordered to repay investors $750,350 in restitution after she pled guilty to a charge of theft by deception. Predovan orchestrated a Ponzi scheme and gained the attention of investors by informing them that she worked for George Soros in the 1980s… Read more »

SEC Claims Total Wealth Management and Jacob Cooper Paid Themselves Kickbacks

Total Wealth Management, Inc. and its owner, Jacob Keith Cooper, breached their fiduciary duties to clients and investors in connection with investments made in the unregistered Altus Capital Opportunity Fund, LP and a series of unregistered funds referred to as the Altus Portfolio Series, according to a cease and desist order filed by the Securities… Read more »

Paul Souder Pleads Guilty to Fraud Charges after Taking More Than $1 million from Investors

Paul Souder, of Harrisonburg, Virginia pled guilty to fraud charges in connection with the issuance of promissory notes that occurred between June 2007 and October 2013. Souder obtained money from at least 18 investors through the issuance of promissory notes. Sounder informed investors that he would utilize his personal trading strategy to invest the borrowed… Read more »

Chicago Area Investment Partner Matthew Stoen Indicted on Fraud Charges

Matthew Stoen, founder and managing partner of Stone Rose LP, committed fraud in obtaining and misusing investment funds, according to an indictment issued by a federal grand jury. The Peiffer Wolf securities practice attorneys Jason Kane and Joe Peiffer are investigating the matter.  Individuals who invested with Matthew Stoen may contact attorneys Kane or Peiffer. … Read more »

Robert J. Vitale and Realty Acquisitions & Trust, Inc. Accused of Committing Securities Fraud, Investigated by Securities Lawyers

Robert J. Vitale and Realty Acquisitions & Trust, Inc. (“RATI”) made numerous materially false and misleading statements in connection with four real estate securities offerings of Realty Acquisitions & Trust, Inc., according to a complaint filed by the Securities and Exchange Commission (“SEC”). The Peiffer Wolf law firm’s securities practice attorneys are investigating the matter…. Read more »

Securities Attorneys James Booker and Joe Peiffer Encourage Investors to Approach Virtual Currencies with Caution

Virtual currencies are more popular than ever. Virtual currencies such as Bitcoin, Dogecoin, Ripple, and Litecoin are widely used and are starting to be accepted in everyday commerce. Pioneering investors have set their aim on digital currencies as investment vehicles that can provide profitable returns. One such way digital currencies have become situated as an… Read more »

Kenneth Carlton Allegedly Used Bad Science to Solicit Investments for Gold Mining Operations

Nekekim Corporation and its CEO, Kenneth Carlton, induced hundreds of investors to invest over $16 million in a fruitless gold mining venture, according a complaint filed by the Securities and Exchange Commission. Nekekim and Carlton defrauded investors by making representations that a special “complex ore” found at Nekekim’s mine site in Nevada contained gold deposits… Read more »

Matthew D. Sample Allegedly Defrauded Investors in Connection with The Lobo Volatility Fund

Matthew D. Sample defrauded investors by diverting investor funds for his personal use and making payments to other investors, according to a complaint filed by the Securities and Exchange Commission (SEC). Securities practice attorneys Jason Kane and Joe Peiffer are investigating the matter. Sample was a hedge fund manager who fraudulently raised almost $1 million… Read more »

Jeffrey Carter Smith Suspended and Fined in Connection with Unauthorized Transactions in Customer Accounts

Jeffrey Carter Smith, a financial professional formerly registered with UBS Financial Services, Inc., was sanctioned by securities regulators in connection with claims that Smith made hundreds of unauthorized transactions. Smith was suspended from the securities industry for nine months and fined $10,000 by the Financial Industry Regulatory Authority (FINRA). Smith serviced three separate Uniform Gifts… Read more »

LPL Financial Sanctioned In Connection With Sale of Non-Traded REITs, Other Alternative Investments

LPL Financial LLC was recently sanctioned by securities regulators.  LPL Financial failed to implement an adequate supervisory system for the sale of alternative investments and also failed to have compliance or written supervisory procedures that were reasonably designed to achieve compliance with regulatory rules and state suitability requirements, according to the Financial Industry Regulatory Authority… Read more »