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Articles Posted in Investment Fraud

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Our south Florida securities and investment fraud attorneys are investigating claims on behalf of investors in PAR Funding and related companies. On July 24, 2020, the Securities and Exchange Commission (“SEC”), brought an emergency action against a number of individuals and entities, including but not limited to Dean J. Vagnozzi and his Pennsylvania-based company, A Better Financial Plan, for their roles in an alleged half billion dollar fraud scheme. The SEC brought its emergency action to immediately halt the nation-wide fraud, which is believed to have harmed over 1,200 investors. The SEC is seeking a temporary restraining order and by freezing assets. A link to the charges can be found here, which was unsealed on Friday, July 31, 2020.Our south Florida securities and investment fraud attorneys are investigating claims on behalf of investors in PAR Funding and related companies. On July 24, 2020, the Securities and Exchange Commission (“SEC”), brought an emergency action against a number of individuals and entities, including but not limited to Dean J. Vagnozzi and his Pennsylvania-based company, A Better Financial Plan, for their roles in an alleged half billion dollar fraud scheme. Continue reading ›

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Our south Florida securities and investment fraud attorneys are investigating claims on behalf of investors in PAR Funding and related companies. On July 24, 2020, the Securities and Exchange Commission (SEC), brought an emergency action against a number of individuals and entities, including but not limited to Michael C. Furman and his south-Florida based company, United Fidelis Group Corp., for their roles in an alleged half billion dollar fraud scheme. The SEC brought its emergency action to immediately halt the nationwide fraud, which is believed to have harmed over 1,200 investors. The SEC is seeking a temporary restraining order and by freezing assets. A link to the charges can be found here, which was unsealed on Friday, July 31, 2020.Our south Florida securities and investment fraud attorneys are investigating claims on behalf of investors in PAR Funding and related companies. On July 24, 2020, the Securities and Exchange Commission (SEC), brought an emergency action against a number of individuals and entities, including but not limited to Michael C. Furman and his south-Florida based company, United Fidelis Group Corp., for their roles in an alleged half billion dollar fraud scheme. Continue reading ›

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On July 24, 2020, the Securities and Exchange Commission (“SEC”), brought an emergency action against Par Funding and others, to obtain a temporary restraining order and freeze assets in order to halt a nearly half-billion dollar fraud scheme, harming over 1,200 across the U.S. A link to the charges can be found here, which was unsealed on Friday, July 31, 2020. In the Complaint, the SEC alleged that Joseph W. LaForte (a convicted felon) and his wife, Lisa McElhone orchestrated a scheme to defraud investors, using unregistered securities offerings for Complete Business Solutions Group (CBSG). CBSG was a cash advance company they controlled, that did business under the name “Par Funding.”On July 24, 2020, the Securities and Exchange Commission (“SEC”), brought an emergency action against Par Funding and others, to obtain a temporary restraining order and freeze assets in order to halt a nearly half-billion dollar fraud scheme, harming over 1,200 across the U.S. A link to the charges can be found here, which was unsealed on Friday, July 31, 2020.

In the Complaint, the SEC alleged that Joseph W. LaForte (a convicted felon) and his wife, Lisa McElhone orchestrated a scheme to defraud investors, using unregistered securities offerings for Complete Business Solutions Group (CBSG). CBSG was a cash advance company they controlled, that did business under the name “Par Funding.” Continue reading ›

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Silver Law Group, a nationally-recognized class action law firm, has filed the first class action lawsuit against South Florida-based hedge fund TCA Fund Management Group, TCA’s founder and chairman Robert Press, and others involved with the company (Defendants). The lawsuit, which Silver Law Group filed in federal court along with co-counsel Weinberg Wheeler Hudgens Gunn & Dial and Gibbs law Group, is filed on behalf of investors in TCA’s funds (Plaintiffs), seeks to recover investor losses and alleges that Defendants knowingly inflated the value of TCA’s Master fund in part by “failing to remove or properly value bad loans and creating phantom “investment advisory” fees that were fraudulent and uncollectable.”Silver Law Group, a nationally-recognized class action law firm, has filed the first class action lawsuit against South Florida-based hedge fund TCA Fund Management Group, TCA’s founder and chairman Robert Press, and others involved with the company (Defendants).

The lawsuit, which Silver Law Group filed in federal court along with co-counsel Weinberg Wheeler Hudgens Gunn & Dial and Gibbs law Group, is filed on behalf of investors in TCA’s funds (Plaintiffs), seeks to recover investor losses and alleges that Defendants knowingly inflated the value of TCA’s Master fund in part by “failing to remove or properly value bad loans and creating phantom “investment advisory” fees that were fraudulent and uncollectable.” Continue reading ›

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TCA Management Group, a South Florida-based hedge fund and business lender, is shutting down its main investment fund, stating that clients have asked for more cash than is available. The announcement comes after TCA employees filed an SEC whistleblower complaint alleging that the TCA Fund Management Group’s Global Credit Master Fund, which lends money to distressed companies, has inflated the hedge fund’s earnings and assets since 2017. The Securities and Exchange Commission (SEC) is investigating the company’s accounting practices.TCA Management Group, a South Florida-based hedge fund and business lender, is shutting down its main investment fund, stating that clients have asked for more cash than is available.

The announcement comes after TCA employees filed an SEC whistleblower complaint alleging that the TCA Fund Management Group’s Global Credit Master Fund, which lends money to distressed companies, has inflated the hedge fund’s earnings and assets since 2017. Continue reading ›

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Law.com published an article regarding Silver Law Group’s racketeering lawsuit against Tallahassee, Florida attorney and investment fund manager Phillip Timothy Howard. The article is titled “Embattled Florida Attorney Took Ex-FSU Professor’s Life Savings, Lawsuit Claims”.Law.com published an article regarding Silver Law Group’s racketeering lawsuit against Tallahassee, Florida attorney and investment fund manager Phillip Timothy Howard.

The article is titled “Embattled Florida Attorney Took Ex-FSU Professor’s Life Savings, Lawsuit Claims”.

The lawsuit, filed on November 12, 2019 in the Northern District of Florida, claims that Phillip Timothy Howard (Tim Howard) defrauded our client of more than $500,000 as part of a real estate fraud scheme. Scott Silver, managing partner of Silver Law Group, and co-counsel Aaron Cohn of Weinberg, Wheeler, Hudgins, Gunn & Dial represent the client. Continue reading ›

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Silver Law Group is investigating WeWork for potential violations of federal and state law by the company and its primary investor, SoftBank. The investigation comes on the heels of WeWork’s canceled initial public offering (IPO) and a $1.7 billion termination package for outgoing CEO Adam Neumann.Silver Law Group is investigating WeWork for potential violations of federal and state law by the company and its primary investor, SoftBank. The investigation comes on the heels of WeWork’s canceled initial public offering (IPO) and a $1.7 billion termination package for outgoing CEO Adam Neumann.

There are reports that the canceled IPO caused WeWork to decline in value by a significant amount. Continue reading ›

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On November 12, 2019, Scott Silver of the Silver Law Group and co-counsel filed a lawsuit in the Northern District of Florida against Phillip Timothy Howard (Tim Howard), a Tallahassee, Florida attorney and investment fund manager, based on claims that Howard defrauded an investor of more than a half-million dollars as part of a real estate fraud scheme. The suit alleges (1) violation of the federal civil Racketeer Influenced and Corrupt Organizations Act (RICO); (2) fraud in the inducement; (3) breach of fiduciary duty; (4) negligent misrepresentation; and (5) unjust enrichment.On November 12, 2019, Scott Silver of the Silver Law Group and co-counsel filed a lawsuit in the Northern District of Florida against Phillip Timothy Howard (Tim Howard), a Tallahassee, Florida attorney and investment fund manager, based on claims that Howard defrauded an investor of more than a half-million dollars as part of a real estate fraud scheme.

The suit alleges (1) violation of the federal civil Racketeer Influenced and Corrupt Organizations Act (RICO); (2) fraud in the inducement; (3) breach of fiduciary duty; (4) negligent misrepresentation; and (5) unjust enrichment. Continue reading ›

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Silver Law Group’s managing partner Scott Silver was interviewed for and gave a quote to The New York Times for an article on Ponzi schemes. Scott Silver is a leading investment fraud attorney recognized as being one of the best lawyers for victims of stockbroker misconduct. Scott is a frequent speaker and author on securities arbitration and is the chair of the securities and financial fraud group of the American Association for Justice. The article examines the new tactics used by perpetrators of Ponzi schemes in the years since Bernie Madoff was caught running the largest Ponzi scheme ever in 2008.Silver Law Group’s managing partner Scott Silver was interviewed for and gave a quote to The New York Times for an article on Ponzi schemes.

Scott Silver is a leading investment fraud attorney recognized as being one of the best lawyers for victims of stockbroker misconduct. Scott is a frequent speaker and author on securities arbitration and is the chair of the securities and financial fraud group of the American Association for Justice.

The article examines the new tactics used by perpetrators of Ponzi schemes in the years since Bernie Madoff was caught running the largest Ponzi scheme ever in 2008. Continue reading ›

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Registered Investment Advisor McDermott Investment Advisors (MIA) and its founder Dean Patrick McDermott are the subject of a lawsuit filed by the Securities and Exchange Commission (SEC) for allegedly “double dipping” on fees by investing clients in securities that paid fees to an affiliated broker-dealer, rather than a cheaper alternative. Clients Charged Unnecessary Transaction Fees The lawsuit alleges that McDermott and MIA put over $5.7 million of its client’s assets into unit investment trusts (UITs) that charged a transaction fee, most of which was paid to a broker-dealer that was owned by McDermott, rather than a UIT with no transaction fee.Registered Investment Advisor McDermott Investment Advisors (MIA) and its founder Dean Patrick McDermott are the subject of a lawsuit filed by the Securities and Exchange Commission (SEC) for allegedly “double dipping” on fees by investing clients in securities that paid fees to an affiliated broker-dealer, rather than a cheaper alternative.

Clients Charged Unnecessary Transaction Fees

The lawsuit alleges that McDermott and MIA put over $5.7 million of its client’s assets into unit investment trusts (UITs) that charged a transaction fee, most of which was paid to a broker-dealer that was owned by McDermott, rather than a UIT with no transaction fee. Continue reading ›

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