A National Securities Arbitration & Investment Fraud Law Firm
The SEC recently issued a final judgment against Jose Angel Aman, the mastermind behind three Ponzi schemes involving uncut colored diamonds and cryptocurrency. The order involves disgorgement of $4.2 million in ill-gotten gains and legal fees of $325,033. Additionally, the criminal case ordered him to pay restitution of $23.9 million,…
Another Miami hedge fund has been accused of fraud by the Securities and Exchange Commission (SEC). On April 23, 2021 the SEC filed a complaint that charges Andrew Franzone and investment adviser FF Fund Management, LLC “with fraudulently raising and misappropriating tens of millions of dollars from the sale of…
Silver Law Group, a national securities and investment fraud law firm that represents Ponzi scheme victims, is investigating Harbor City Capital Corp. and its founder, Melbourne, Florida resident Jonathan P. Maroney (JP Maroney, Jonathan Paul Maroney), for running an alleged Ponzi scheme. Jonathan P. Maroney Alleged To Have Sold Unregistered…
The Securities and Exchange Commission (SEC) has obtained a temporary restraining order and asset freeze against Melbourne, Florida resident Jonathan P. Maroney, accusing him of running an ongoing Ponzi scheme through his company Harbor City Capital Corp., LLC and other entities. Although characterized as an internet marketing company, Maroney allegedly…
Scott Reed (Scott Wayne Reed CRD# 3007033) is a previously registered broker and investment advisor whose most recent employer was First Financial Equity Corporation (CRD#: 16507). Prior to that, Reed spent four years at Wells Fargo Clearing Services, LLC (CRD#: 19616) in Scottsdale, Arizona. Reed has been in the securities…
Megurditch “Mike” Patatian (CRD# 4047060) is a former registered broker and investment advisor whose most recent employer was Supreme Alliance LLC (CRD#: 45348). Before that, Patatian spent seven years registered with Western International Securities, Inc. (CRD#: 39262) of Westlake Village, California. Patatian has been working in the industry since 1999.…
City National Bank is a named co-defendant in a class-action lawsuit filed in U.S. District Court for the Central District of California by victims of alleged Ponzi schemer Zachary Horwitz, a sometimes-Hollywood actor under the name Zach Avery who raised $690 million through a bogus film licensing company called 1inMM…
We’ve reported on Yousuf Saljooki (CRD#: 5045123, aka Joe Saljooki, and Joseph Saljooki) on two previous occasions regarding his two suspensions by the State of Arkansas and subsequently by FINRA for many of the same infractions. Even though Worden Capital discharged Yousuf Saljooki in 2018, additional actions were recently filed…
Do you have a family member who is also your stockbroker, investment advisor, or other financial services representative? Many broker-dealer firms encourage newly-minted employees to recruit wealthy relatives to invest with them to begin their business and grow their client list. You may have taken the bait and moved your…
Broker-dealers under the Advisor Group (which includes SagePoint Financial, Royal Alliance Associates Inc., Triad, Woodbury Financial Services, and FSC Securities) have increased legal reserves by about $4.4 million compared to the prior year, according to SEC filings. According to an InvestmentNews article, Royal Alliance, SagePoint, and FSC increased their reserves…