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Wall Street Investment Fraud Lawyer Blog

Investor Alert Concerning Marietta Investment Advisor Jay Costa Kelter
The Doss Firm

Jay Costa Kelter, a Marietta, Georgia investment advisor, was recently charged with defrauding three retirees out of their retirement savings, according to an article in the Atlanta Journal Constitution entitled “Marietta man accused of bilking elderly investors,” written by Lori Norder.  Kelter is the subject of both a criminal action and a civil action filed…

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Authorities Arrest Broker/Advisor for Defrauding Three Investors—but Are There Others?
The Doss Firm

On September 29, 2017, Richard G. Cody, 43, of Jacksonville, Fla., a former investment advisor, was arrested in Florida on charges of violating the Investment Advisors Act of 1940 and lying to the Securities and Exchange Commission in a court proceeding, according to an insurancenewsnet.com article entitled “Former Investment Advisor Indicted for Fraud and Perjury.”  The Financial…

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PIABA Foundation and Alliance for Investor Education Launch Investor Education Town Hall Meeting
The Doss Firm

The Securities Arbitration Commentator (SAC) recently took notice of a new investor education project that was spearheaded by our own Jason Doss.  Mr. Doss is a recent past president of the Public Investors Arbitration Bar Association, or PIABA, and the current president of the PIABA Foundation.  PIABA is an association of attorneys from around the country who…

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SEC Fines UBS for Improper Sales of Reverse Convertible Notes
The Doss Firm

The Securities and Exchange Commission has announced that UBS Financial Services will pay more than $15 million to settle charges related to unsuitable sales of reverse convertible notes (“RCNs”) to individual (“retail”) investors.  The SEC found that UBS failed to adequately educate and train its sales force in connection with the sale of RCNs as a result…

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Attention Former Customers of Leavitt Freeman Sanders: You May Be Able to Recover Your Investment Losses
The Doss Firm

Our firm has already filed many individual lawsuits alleging, among other things, investment fraud against Leavitt Sanders and the firms that he traded through.  Those firms include Invest Financial, Triad Advisors, Capital Asset Advisory Services, Sanders Yearian Advisory Group and Leavitt Financial Group. We have developed direct evidence that supports the allegations that these firms…

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Record Oil Industry Bankruptcies Take a Toll on Investors
The Doss Firm

Reuters reports that bankruptcies in the U.S. oil industry have reached record levels.  The number of bankrupt oil and gas companies is 59 and counting, and we are not even half-way through the wave of bankruptcy filings, according to a Reuters article entitled U.S. oil industry bankruptcy wave nears size of telecom bust.  As the article’s…

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Greenville Broker Claus Foerster Indicted in $2.8 Million Ponzi Scheme
The Doss Firm

A South Carolina grand jury has indicted a Greenville broker named Claus Foerster for defrauding his clients out of $2.8 million.  According to news reports, the indictments states that Foerster persuaded clients to invest in a fictitious company called SG Investment Management.  According to the Associated Press, Foerster provided his clients with bogus earnings statements…

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Broker Dealers That Sold United Development Funding REITs
The Doss Firm

Following up on our previous blog post, broker dealers that sold UDF non-traded REITs to investors include, but are not limited to, IMS Securities Inc., Berthel Fisher & Co. Financial Services Inc., Centaurus Financial Inc., and VSR Financial Services, Inc. These firms have a history of regulatory violations and customer complaints: The Financial Industry Regulatory…

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A Pathway to Recovery for Investors in United Development Funding IV
The Doss Firm

Shares of United Development Funding IV collapsed 55% to $3.20 per share on Thursday, February 18, before trading was halted.  UDF IV is a publicly traded REIT.  The collapse occurred after the FBI raided the company’s offices in Texas.  A prominent hedge fund manager had previously accused UDF IV of essentially operating as billion dollar…

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