Securities Arbitration Lawyers Blog

Daniel Thibeault, chief executive of GL Capital Partners, a brokerage firm which specialized in alternative investments, was arrested on securities fraud charges after the FBI accused him of a fraudulent scheme to divert some $12.6 million from a fund he was overseeing. Mr. Thibeault allegedly took out fictitious loans to…

The Financial Industry Regulatory Authority (FINRA) fined 10 brokerage firms a total of $43.5 million for allowing their analysts to solicit investment banking business and for offering favorable research coverage in connection with the 2010 IPO of Toys R Us. Firms and fines:  Barclays Capital      $5 million  Citigroup Global…

Travis Wetzel of Frederick, Maryland has pleaded guilty to wire fraud relating to a fraudulent scheme to steal over 1.2 million dollars from an elderly client’s annuity account. According to the government press release, Wetzel processed financial distribution documents for his investment advisory firm located in Rockville, Maryland. According to…

Donald Ray Babb and Ralph Ruth each face a maximum 20 years in federal prison after pleading guilty to operating a $20 million dollar Ponzi scheme. The scheme lasted from June 2006 through the end of 2013 primarily targeting older investors including several government workers costing many investors their life…

NSM Securities, Inc. (CRD #134357, West Palm Beach, Florida) and Niyukt Raghu Bhasin (CRD #2282048, Wellington, Florida) submitted an Offer of Settlement to FINRA in which NSM Securities (“NSM”) was expelled from FINRA membership. Bhasin was barred from association with any FINRA member in any capacity. NSM and Bhasin consented…

Boca Raton, Florida – October 23, 2014 (GLOBE NEWSWIRE) Silver Law Group (www.silverlaw.com) is pursing claims against multiple Bitcoin exchanges for allegedly buying and selling cryptocurrencies using false and misleading claims of easy profits, high returns, and little risk.  While The Wall Street Journal recently proclaimed that it was time…

If you’re investing in an instrument other than traditional stocks, bonds, or cash, then you’re investing in an alternative. In the current low-interest rate environment, many retail investors are allocating a greater portion of their portfolio to alternatives in search of higher yield. It is also common for investors to…

Last week, the Financial Industry Regulatory Authority (FINRA) filed charges against Newport Coast Securities, Inc. (“Newport Coast”) and some of its current and former registered representatives, accusing them of using margin and risky securities to artificially generate huge commissions for themselves while wiping out most of their customers’ investment capital.…

Scott Silver, Managing Partner of Silver Law Group, is the current co-chair of the Securities and Financial Fraud group of the American Association of Justice (“AAJ”).  On July 28, 2014, during the 2014 AAJ Annual Convention in Baltimore, Maryland, Scott gave a well-received presentation titled “How to Win an Alternative…

The U.S. Securities and Exchange Commission (“SEC”) has filed a civil lawsuit against a Palm Beach, Florida-based transfer agent and its owner for allegedly defrauding more than 70 investors out of more than $3 million by using “aggressive boiler room tactics” to sell worthless investment securities. According to the SEC’s lawsuit, which…