SCANA Class Action Moving Forward

In July 2012, The Doss Firm, LLC filed a class-action lawsuit against SCANA Energy in the United States District Court of the Northern District of Georgia, Atlanta Division. The complaint alleged that SCANA overcharged hundreds of thousands of Georgia customers for their natural gas usage in violation of Georgia’s Natural Gas Competition and Deregulation Act.…

Yield Producing Investments Continue to Harm Retirees

On February 10, 2013, the New York Times published an article entitled Complex Investments Prove Risky as Savers Chase Bigger Payoff which detailed how regulators across the country are still seeing an increase in losses and fraud cases revolving around complex yield producing products. Since traditional income-producing like, CDs, currently offer low interest rates crisis,…

Investors May Have a Path to Recovery in Cay Clubs Resorts and Marinas Ponzi Scheme

On January 30, 2013, the SEC charged five former real-estate executives with defrauding investors in an investment scam. The investors were led to believe that they were funding the development of five-star destination resorts in Florida and Las Vegas when they were actually buying into a ponzi scheme. The SEC alleged in the complaint that…

Texas Trader Charged with Affinity Fraud

On January 29, 2013, the SEC charged Firas Hamdan, a day trader in Sugar Land, TX, with “defrauding investors in his supposed high-frequency trading program and providing them falsified brokerage records that drastically overstated assets and hid his massive trading losses.” “The SEC alleges that Firas Hamdan particularly targeted fellow members of the Houston-area Lebanese…

Who is Inland American Real Estate Trust, Inc.?

In the recent Massachusetts Securities Division suit against LPL Financial over non-traded REITs, Inland American Real Estate Trust was targeted. So who exactly is Inland American? In short, Inland American is the industry’s largest non-traded real estate investment trust. According to their website, Inland American Real Estate Trust, Inc. is a publicly traded Maryland corporation…