Investment Fraud

1st Global Capital Bankruptcy Affects Investors in Knoxville, TN

August 9, 2018 | Silver Law Group

Do you live in Knoxville, Tennessee? Have you invested or lost money with 1^st Global Capital?

iStock-494312894-300x200 1^st Global Capital has recently filed for Chapter 11 Bankruptcy after investigations alleging sales of unregistered securities, sales of securities by unregistered brokers, and other acts of fraud in connection with the sales of securities. Several state attorney generals are also investigating the solicitation of multiple individuals into investing in MCA deals.

The alleged loan fraud totals $283 million.

SEC Charges Texas Pastor and Former Louisiana Broker with Money Laundering and Wire Fraud

August 8, 2018 | Silver Law Group

The elder financial fraud allegations reportedly cost elderly investors over $1M of retirement savings

Once a prominent Methodist pastor in Houston, Texas, Kirbyjon Caldwell is now charged by the SEC with numerous counts of money laundering and wire fraud. The charges are directly related to a scheme Caldwell and his partner, Gregory Alan Smith – a self-proclaimed financial advisor who was also charged – allegedly used to defraud elderly investors by selling them an interest in defunct, pre-Revolutionary Chinese bonds.

It is alleged that in 2013 and 2014, Caldwell and Smith singled out vulnerable investors to invest in bonds that had no more value than being collectible memorabilia – promising instead that they were worth millions.

Rare Diamond Investment Fraud Attorneys – Rare Diamond Investment Fraud

July 25, 2018 | Silver Law Group

Our investment fraud attorneys help victims of precious metal and exotic diamond frauds by con artists who promise quick profits from investing in rare diamonds or other exotic gems. Investors should be wary of any aggressive sales tactics or violations of state or federal securities laws. Bahram-Mirhashemi-Facing-Allegations-of-Elder-Financial-Fraud-300x200-300x200

Possible Fraudulent Sales Pitch Include:

Current news already known to the public such as:

Suspect You (or a Loved One) are a Victim of Elder Financial Fraud?

July 25, 2018 | Silver Law Group

Here’s what you need to do now

Elder financial fraud continues to be a lucrative scheme in America, which is why seniors and their loved ones always need to keep their guard up. We have previously discussed how to spot fraud and what some financial institutions are doing to prevent it, and this piece serves as a guide on what to do about the fraud that has occurred.

Victims, their family members, or caregivers should follow these steps to help limit the damage:

Protecting Alzheimer’s Patients from Financial Fraud

July 18, 2018 | Silver Law Group

Individuals suffering from Alzheimer’s can be prime targets for financial predators

Unfortunately, we become more susceptible to financial scams from a wide range of offenders as we age. These include trusted advisors such as lawyers, accountants, and financial managers – as well as healthcare providers, caregivers, and even close family members.

Recent studies show that as our brains age, we become less able to detect deception and focus more on the potential for positive outcomes, especially when it comes to trusting people in our own social environment.

Daniel Glick Gets 12 Years in Jail for Elder Financial Fraud

July 11, 2018 | Silver Law Group

He defrauded his clients – including his own in-laws – of more than $5 million

Former Chicago investment advisor Daniel Glick will be spending the next 12 years in federal prison. He received this sentence in April after being found guilty of using a Ponzi-like scheme to defraud several of his clients of $5.2 million.

From 2011 to 2017, it was revealed that Glick misappropriated funds through the three financial services and accounting firms he owned in Orland Park, Illinois: Glick & Associates Ltd., Glick Accounting Services Inc., and Financial Management Strategies, Inc.

FINRA Bars Broker John Greg Schmidt After Misappropriation Allegations

June 28, 2018 | Silver Law Group

John Greg Schmidt (CRD #708094) is a former registered stockbroker and investment advisor whose last known employer was Wells Fargo Advisors Financial Network, LLC (CRD #11025) in Dayton, OH. He is also known as “Greg Schmidt” or “John Gregory Schmidt.”

His previous employers include Stifel, Nicolaus & Company, Incorporated (CRD #793), also of Dayton, OH; First Union Securities, Inc. (CRD #19616) of St. Louis, MO; and First Union Capital Markets Corp. (CRD #6124) of Charlotte, NC. Schmidt began his industry career in 1980, but is not currently registered with any FINRA broker.

Schmidt is currently the subject of several disclosures:

Jeffrey Hawley and Wells Fargo

June 22, 2018 | Silver Law Group

A current client dispute relating to Jeffrey Hawley (CRD #1131302) has been filed against Wells Fargo. Hawley is a registered broker currently with Wells Fargo Clearing Services, LLC (CRD #19616). Hawley is also a registered investment advisor with the same company.

The customer dispute centers on Puerto Rican bonds, which were popular to sell to investors for their high returns. When the island declared bankruptcy in May of 2017, many investors accounts decreased dramatically.

The client alleges that Hawley recommended purchasing these bonds in 2012, and to “thereafter hold the bonds.” The case is currently listed as pending.

First Nationle Solution LLC, United RL Capital Services, and Percipience Global Corp. $102 Million Ponzi Scheme Attorneys

June 20, 2018 | Silver Law Group

The SEC has shut down a $102 Million Ponzi Scheme that was defrauding investors in several states. The complaint that was filed in federal district court in Manhattan charges Perry Santillo from Rochester, New York, Christopher Parris from Rochester, New York, Paul LaRocco from Ocala, Florida, John Piccarreto from San Antonio, Texas, and Thomas Brenner from Orville, Ohio. These brokers are said to have defrauded over 600 investors through sales of securities in issuers that they controlled including the following: First Nationle Solution LLC, United RL Capital Services, and Percipience Global Corp. If you or someone you know lost their investment by investing with one of these brokers and/or companies, then it is highly recommended to speak to an attorney in order to assess your potential legal options to recover your investment capital.

The SEC Allegations of Fraud

5 Common Financial Scams Aimed at Seniors

June 6, 2018 | Silver Law Group

Educate yourself so you can protect yourself or your loved ones

While the health of your senior loved ones might be the main thing you focus on, there are other areas you can’t ignore, such as their finances. Just as you want to ensure that they are safe when driving, traveling, etc., you need to do the same for their money.

Unfortunately, older people are preyed upon all the time by scammers and con artists, and research shows that due to diminished capacity or simply higher levels of trust, they often make for easier targets. Here are some of the most common schemes to know about: