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Articles Posted in Investment Fraud

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On Sunday, February 26, 2025, Almir Ocanto, a Venezuelan national, was found dead in Broward County. He was wanted in connection with multiple warrants related to financial fraud and scams perpetrated primarily online. Silver Law Group represents victims who were defrauded by Ocanto. According to news stories, operating as a “Bróker financial,” Ocanto promised his clients high returns and three months of interest payments. Ocanto never made any of these payments and “disappeared” with his client’s funds. More than 20 individuals were defrauded by Ocanto, with the missing amount of money totaling over $1 million. Most of his victims were Venezuelans who invested with him online.On Sunday, February 16, 2025, Almir Ocanto, a Venezuelan national, was found dead in Broward County. He was wanted in connection with multiple warrants related to financial fraud and scams perpetrated primarily online. Silver Law Group represents victims who were defrauded by Ocanto. Continue reading ›

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On January 29, 2025 the Securities and Exchange Commission (SEC) sued Broad Street Global Management LLC, alleging that it’s principals “used deceptive schemes and materially false statements to raise…more than $1 billion from over a thousand investors.” The suit, filed in Florida federal court against Broad Street Global Management (BSG), Broad Street Inc (BSI), and executives Steven Baldassarra, Joseph Baldassarra, and David Feingold, seeks an asset freeze, injunctions, and the appointment of a receiver to stop the alleged ongoing offering fraud. Broad Street Global, a South Carolina-based private equity fund, offered series investments that claimed to allow investors to profit from investments in merchant cash advance, real estate infrastructure, hotels, and other businesses. Each series was said to be its own investment with unique risks and profit potential. Investors were told that the fund would keep the assets and liabilities of each series separate and not commingle money or assets between different investments. But according to the SEC’s complaint “funds were commingled and cross-liabilities created.”On January 29, 2025 the Securities and Exchange Commission (SEC) sued Broad Street Global Management LLC, alleging that it’s principals “used deceptive schemes and materially false statements to raise…more than $1 billion from over a thousand investors.”

The suit, filed in Florida federal court against Broad Street Global Management (BSG), Broad Street Inc (BSI), and executives Steven Baldassarra, Joseph Baldassarra, and David Feingold, seeks an asset freeze, injunctions, and the appointment of a receiver to stop the alleged ongoing offering fraud. Continue reading ›

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Aaron A. Wagner, a former college football player, social media financial influencer, and entrepreneur, has been arrested in Utah for misappropriating investor funds. The Department of Justice's complaint described wire fraud in which Wagner diverted investor funds intended for a restaurant investment and used them to purchase a private plane. He was arrested on October 24th, 2024, for wire fraud and is being held in a jail in Salt Lake City. Aaron Wagner promised investors opportunities to invest in restaurants under his companies but used investor funds for himself and other projects. In one case, Wagner solicited $2m for a gourmet donut shop called Hello Sugar but instead used the money towards the plane, along with $6 million in loans. The aircraft was sold to WCFS Travel, and Wagner was the sole owner of that company. The indictment states that $2.39 million of the purchase price came from investor funds entirely supplied by money intended for investment in Hello Sugar, Dirty Bird Hot Chxx, and Las Botellas.Aaron A. Wagner, a former college football player, social media financial influencer, and entrepreneur, has been arrested in Utah for misappropriating investor funds. The Department of Justice’s complaint described wire fraud in which Wagner diverted investor funds intended for a restaurant investment and used them to purchase a private plane. He was arrested on October 24th, 2024, for wire fraud and is being held in a jail in Salt Lake City. Continue reading ›

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Silver Law Group is investigating B Riley’s recommendation that investors purchase shares of Franchise Group as late as 2023. Following reports of Franchise Group Inc.’s (FRG) bankruptcy filing in Delaware, B. Riley chairman Bryant Riley sent an email to the firm’s employees stating that he felt “personally sick” in the aftermath. The bankruptcy came just over one year after Riley assisted with the formation of FRG, and the $2.8 billion he helped to arrange for the buyout. The newly formed FRG became a key holding of B. Riley. Shares of B. Riley fell 12% in New York trading following the announcement on Sunday.Silver Law Group is investigating B Riley’s recommendation that investors purchase shares of Franchise Group as late as 2023.

Following reports of Franchise Group Inc.’s (FRG) bankruptcy filing in Delaware, B. Riley chairman Bryant Riley sent an email to the firm’s employees stating that he felt “personally sick” in the aftermath. The bankruptcy came just over one year after Riley assisted with the formation of FRG, and the $2.8 billion he helped to arrange for the buyout. The newly formed FRG became a key holding of B. Riley. Shares of B. Riley fell 12% in New York trading following the announcement on Sunday. Continue reading ›

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Silver Law Group is representing investors in Franchise Group, Inc (FRG) through B Riley Wealth Management based on investor allegations that B Riley failed to disclose known negative information about FRG and conflicts of interest between FRG principal Brian Kahn and B Riley’s CEO. Franchise Group, Inc., (FRG) the parent company of Vitamin Shoppe and other retailers, has filed for Chapter 11 Bankruptcy. The filing comes after months of issues with its backing company, B. Riley, Financial, Inc. Filed in Delaware, the company has nearly $2 billion in debts. In a statement, the company said that it had reached a deal with the lenders that hold most of its older debts. These supporting lenders agreed to exchange the first lien debt for 100% of equity in the new and reorganized company. The deal, and the entire proposal, must be approved by the bankruptcy judge.Silver Law Group is representing investors in Franchise Group, Inc (FRG) through B Riley Wealth Management based on investor allegations that B Riley failed to disclose known negative information about FRG and conflicts of interest between FRG principal Brian Kahn and B Riley’s CEO. Continue reading ›

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Silver Law Group founder Scott Silver was recently interviewed about a report on the amount of financial loss from investment fraud that originates in the Sunshine State. The report indicates that Floridians lost a total of $311 million to various types of investment frauds in 2023. Only California and Texas have higher losses. "It's a huge problem, especially here in Florida, which seems to attract a lot of people who are running scams and trying to take advantage of people,"  Mr. Silver told Fox13 News. "Social media, the internet, the ability to basically promote these kinds of frauds and Ponzi schemes has made it much easier to target specific people and communities."Silver Law Group founder Scott Silver was recently interviewed about a report on the amount of financial loss from investment fraud that originates in the Sunshine State. The report indicates that Floridians lost a total of $311 million to various types of investment frauds in 2023. Only California and Texas have higher losses. Continue reading ›

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The SEC recently released a new investor alert detailing ways that investors can be lured into new frauds involving crypto assets with both new and old techniques. Online scams are still the predominant method. But the addition of AI adds a false sense of believability that can make even tech-savvy individuals vulnerable. Silver Law Group is a national investment fraud law firm with significant experience helping crypto investors recover losses due to fraud through federal court litigation, finra arbitration and SEC whistleblower claims. Whatever method they use to convince you, the investor, to give them money, the result is the same: your money has likely been stolen by someone disguising their identity.The SEC recently released a new investor alert detailing ways that investors can be lured into new frauds involving crypto assets with both new and old techniques. Online scams are still the predominant method. But the addition of AI adds a false sense of believability that can make even tech-savvy individuals vulnerable.

Silver Law Group is a national investment fraud law firm with significant experience helping crypto investors recover losses due to fraud through federal court litigation, finra arbitration and SEC whistleblower claims. Continue reading ›

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The SEC has filed a complaint against property developer Rishi Kapoor, his companies Location Ventures, LLC (LV), URBIN, LLC (URBIN) and multiple subsidiaries in relation to a $93 million fraud. In the petition, the SEC requested emergency relief, including the freezing of five bank accounts and properties to preserve assets and prevent them from being lost. Kapoor and the accused defendant companies purportedly financed their enterprise by presenting "passive investment chances" in Location Ventures and Urbin, alongside other initiatives. The SEC disagrees and indicates that this claim is false, and that Kapoor gave investors pro forma budgets with devalued costs that showed higher returns while suppressing information on the real costs. He ordered his employees “to revise or remove financial data from reports and meeting minutes, and, in some instances, continued to use the pro formas to raise additional capital," according to the complaint.The SEC has filed a complaint against property developer Rishi Kapoor, his companies Location Ventures, LLC (LV), URBIN, LLC (URBIN) and multiple subsidiaries in relation to a $93 million fraud. In the petition, the SEC requested emergency relief, including the freezing of five bank accounts and properties to preserve assets and prevent them from being lost. Continue reading ›

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Silver Law Group represents Northstar Financial Services (Bermuda) investors in claims to recover their investment losses. Brokers allegedly sold Northstar Bermuda to investors as a low risk alternative to CDs that protected their principal and guaranteed income. But the company is now in liquidation, leaving investors unable to access their funds.Silver Law Group represents Northstar Financial Services (Bermuda) investors on a contingency fee basis in claims to recover their investment losses. Brokers allegedly sold Northstar Bermuda to investors as a low risk alternative to CDs that protected their principal and guaranteed income. But the company is now in liquidation, leaving investors unable to access their funds. Continue reading ›

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