Over the last six weeks, we have spoken to over sixty (60) nervous investors with concerns about the recent events and negative press swirling around FINRA’s complaint filed against David Lerner and the Apple REIT investments. Most, if not all of the those investors indicated that they intended immediately to redeem their shares in Apple…
Continue reading ›According to the Los Angeles Times, Robert Khuzami, the Securities and Exchange Commission’s (SEC) director of enforcement, has initiated a new whistle-blower program to attempt to catch fraudsters in the act. This program hopes to stop the fraudster before they have caused too much damage and to attempt to seize the most assets possible for returning…
Continue reading ›According to the Securities and Exchange Commission (SEC), a father-son investment team has been charged with securities fraud for their role in an extensive hedge fund fraud. It is alleged by the SEC that these men, Neil V. Moody and his son, Christopher Moody, both investment advisers in Sarasota, Florida, mislead investors concerning the financial condition of…
Continue reading ›The Securities and Exchange Commission (SEC) has charged a North Carolina couple with an investment scheme that allegedly scammed approximately 500 investors out of $32.5 million dollars. It is alleged that Sidney Hanson and his wife Charlotte Hanson promised extraordinarily high returns to investors that they met at church gatherings and in other face-to-face meetings. These investors…
Continue reading ›According to Forbes.com, a new lawsuit has been filed claiming that Bank of America aided and abetted a fraudulent investment scheme. Specifically, the lawsuit alleges that Bank of America was so involved with the fraudster that they should be held liable for the $400 million losses sustained by investors. The suit was filed in the U.S.…
Continue reading ›According to the Associated Press, Morgan Stanley has agreed to pay more than $7 million to settle regulatory claims of misconduct, arising from the actions of two former brokers, Michael J. Kazacos and David M. Isabella. These brokers were employees of Morgan Stanley’s Rochester branch office. It is said that the settlement resolves claims that Morgan…
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