Pension Advance and Income Stream Investments The Securities and Exchange Commission put out a notice to investors and retirees who engage in transactions involving pension advances and pension income streams. The SEC is concerned that retirees and investors are entering into these pension advance transactions without the proper information to…
The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of Pension Funding LLC. Our firm has received calls from investors who were solicited by licensed FINRA brokers to purchase the Pension Funding investments, which have gone into default. Pension Funding,…
On February 16, 2016 the Securities and Exchange announced that Wade Lawrence submitted an Offer of Settlement, which the SEC determined to accept. Solely for the purpose of the SEC’s proceedings and without admitting or denying the findings therein, Wade Lawrence agreed to the findings that he made unauthorized trades…
In November, 2014, the Financial Industry Regulatory Authority (“FINRA”) announced that Bart Ellis of Chicago, IL and formerly associated with Ameriprise Financial had been barred from FINRA membership for making unauthorized trades in his customer’s account. Ellis had been named in a FINRA complaint alleging that he made unauthorized trades…
In February, 2016, the Financial Industry Regulatory Authority (“FINRA”) announced that David Escarcega of Phoenix, AZ, and associated with Center Street Securities had been barred for his role in selling GWG secured debentures. On February 29, 2016, a panel of FINRA’s Office of Hearing Officers issued a decision ordering that…
In July, 2015, a three member FINRA arbitration panel issued a $61,000 binding arbitration award against Legend Securities for conduct related to two of their registered representatives Michael Mariani and Jason Klabal. The underlying matter involved allegations that Legend Securities permitted a customer’s account to be churned, breached its fiduciary…
John Schemetti, an insurance agent operating in Virginia Beach, VA and Las Vegas Nevada was hit with three civil judgments totaling $1,673,000 in Clark County, NV District Court in August, 2015. The judgments stem from John Schemetti’s role in an investment scam known as Velcor LLC. Schemetti was an officer…
Unregistered financial advisor Reza Baharimehr (aka Mohamed Baharimehr) of Los Angeles, CA and Las Vegas, NV was hit with three judgments in Clark County NV District court for his role in a scam targeting elderly people. The Law office of David Liebrader represented the Plaintiffs in all three cases. Reza…
On February 3, 2016 the SEC charged Portfolio Advisors Alliance, Inc. an New York broker dealer with violations of the United States securities laws, specifically section 10(b) of the Securities Exchange Act of 1934. The SEC’s complaint stems from a private placement offering of securities in a company known as…
In March, 2015, a three member FINRA arbitration panel sitting in Jackson, Mississippi issued a $1,292,000 binding arbitration award against Lanis Noble and Stifel Nicolaus & Co. for violations in their Ridgeland, MS office. The underlying matter involved allegations that Lanis Noble and Stifel Nicolaus mismanaged a customer account, breached…