Articles Posted in Investigations

The Woodbridge Group of Companies filed for bankruptcy in December, 2017 after the Securities and Exchange Commission opened an investigation against them for, among other things, selling unregistered securities.  As a result of these two proceedings, Woodbridge Group’s assets have been frozen, and investors face a long delay before they begin receiving their investment principal back.

In the meantime, investors should consider their options; If the SEC and multiple state securities regulators are correct, that the Woodbridge Group sold unregistered securities through misrepresentations, then investors may have a remedy they can pursue while the bankruptcy proceedings unfold in Delaware.

Not only does Woodbridge Group and its “control persons” (including Robert Shapiro) have liability for selling unregistered securities, but so does anyone who materially aided in the transactions, such as the salespeople, and possibly, the company that employed the salespeople.  All states have securities laws that prohibit the sale of unregistered securities, and investors should look to their state’s securities laws to pursue claims and recover funds lost in their Woodbridge Group transactions.

Todd Seeholzer a representative for Allegis Investment Services in Logan, Utah recommended a risky options strategy that caused substantial losses on August 21, 2015. We presently represent several clients who were solicited by Todd Seeholzer to open accounts with Allegis Investment Services.

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of Todd Seeholzer, a licensed FINRA registered representative from Logan Utah who is affiliated with Allegis Investment Services.

Seeholzer presented Allegis’ clients with a complex options strategy despite not having the proper license to recommend options transactions.  The options strategy failed spectacularly on August 21, 2015, when the transaction at issue cost Allegis’ clients $39 million.  The net credit spread strategy that caused the losses was a high risk strategy suitable only for aggressive investors.

Goldfield Oil Goldfield McKenzie 7 Drilling Fund sued in Clark County District Court.

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of the Las Vegas based company Goldfield Oil Goldfield Mckenzie 7 Drilling Fund.

The underlying matter concerns the solicitation by Goldfield to invest in their Goldfield McKenzie 7 Drilling Fund through the use of cold calling of prospective investors.

Broker Barry Connell charged by SEC, terminated from Morgan Stanley, Barred by FINRA

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of Barry Connell, a FINRA registered representative from Chester New Jersey, previously affiliated with Morgan Stanley in Ridgewood New Jersey.

Barry Connell has been FINRA licensed to sell securities since 1998, and has been affiliated with Morgan Stanley since 2008.  Prior to that Connell worked for UBS Financial Services in Pearl River, NJ.

Ricardo Cabrera investigation over Senior Secured Note sales.

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of Ricardo Cabrera, a licensed FINRA registered representative from Las Vegas, Nevada, affiliated with G.F. Investment Services and Wittman Capital Management of Henderson, Nevada.

Ricardo Cabrera has been FINRA licensed to sell securities since 2009, and has been affiliated with G.F. Investment Services since September, 2013.  Prior to that Cabrera worked for Centaurus Financial and Ameriprise Financial out of offices these firms maintained in Las Vegas.

Mark Stanczyk investigated for over-concentration in elderly client’s accounts.

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of Mark Stanczyk, a licensed FINRA registered representative formerly affiliated with Leigh Baldwin & Company and Pinnacle Investments.

Mark Stanczyk has been FINRA licensed to sell securities for 31 years, and was affiliated with Leigh Baldwin from 2013 – 2016, working out of their Cazenovia, New York branch. Prior to that Stanczyk worked for Pinnacle Investments, Wachovia Securities, Prudential Securities, Salomon Smith Barney and Lehman Brothers, where he got his start in the industry in 1984.

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