Securities Fraud Lawyer Blog
In July, 2015, a three member FINRA arbitration panel sitting in Detroit Michigan issued a $40,000 binding arbitration award against Tony Manaia and Intervest International Equities for violations in their Bloomfield Hills Michigan office.
The underlying matter involved allegations that Tony Manaia and Intervest International mismanaged a customer account, breached fiduciary duties, made unsuitable investments, failed to follow industry rules and standards and violated the Michigan Securities Laws. The securities involved in the case included Mammoth Horizon, Mammoth Destiny and Medical Capital Funding V aka “Med Cap.”
After a four day arbitration hearing in May, 2015, the arbitration panel rendered their decision and awarded the customers $40,000 in compensatory damages against Intervest International and Tony Manaia.
As a result of this award The Law Office of David Liebrader has opened an investigation into Tony Manaia and other brokers at Intervest International.
Tony Manaia’s broker check lists twenty customer complaints since 2003 and several regulatory investigations. Prior to working at Intervest, he was affiliated with United Securities Alliance in Auburn Hills, Michigan.
Intervest International is a Florida Corporation formed in March 1988, with its main office in Colorado Springs, Colorado. The firm’s broker check report lists two arbitrations and one regulatory event. They are licensed to do business in all 50 states.
FINRA Code of Arbitration Procedure section 12904 governs the issuance and payments of awards. Key provisions of the rule are that the award may be entered as a judgment in any court of competent jurisdiction, after a motion to confirm the award is filed pursuant to state or federal law. Furthermore, unless the applicable law directs otherwise, all awards rendered under the Code of Arbitration Procedure are final, and are not subject to review or appeal. Grounds for overturning binding FINRA arbitration awards are extremely limited. Tony Manaia and Intervest International had thirty days to pay the award, or to seek to have the award vacated.
If you are the victim of investment fraud, or if you have lost money investing with Tony Manaia or Intervest International Equities, please call The Law Office of David Liebrader at (702) 380-3131 for a free, confidential consultation to discuss your legal rights and options. Our firm takes cases on a straight contingency fee, with no money up front, and no money owed unless there is a recovery.
There is no charge for the initial consultation, so call (702) 380-3131 today to speak with an experienced securities attorney who will fight to recover your losses.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.