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Public Justice

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Two people have been charged with running a Ponzi scheme connected to the cattle business that raised around $650 million from victims across the country.  The alleged Ponzi schemers, revealed Tuesday, May 11, 2021, by an unsealed federal indictment in Colorado, are Reva Joyce Stachniw, 69, of Galesburg, Illinois, and Ron Throgmartin, 57, of Buford, Georgia. In 2020, a third man, Mark Ray, resident of Denver, was charged by criminal information in the scheme. According to the indictment, beginning around early 2017 and continuing through early 2019, victim-investors were directed to wire money into several bank accounts, primarily a checking account associated with an Illinois-based business called RM Farm & Livestock LLC. Victims were also directed to make payments directly to purported business associates but who were in fact other victim-investors. “False and fraudulent pretenses” were also used to solicit money for a Colorado marijuana business controlled by Stachniw, Throgmartin, and Ray, Universal Herbs LLC, the indictment says. Silver Law Group is a national securities and investment fraud law firm which represents Ponzi scheme victims in claims against the Ponzi schemer and any third parties who materially participated in the fraud or are otherwise liable under the law.Two people have been charged with running a Ponzi scheme connected to the cattle business that raised around $650 million from victims across the country.  The alleged Ponzi schemers, revealed Tuesday, May 11, 2021, by an unsealed federal indictment in Colorado, are Reva Joyce Stachniw, 69, of Galesburg, Illinois, and Ron Throgmartin, 57, of Buford, Georgia. In 2020, a third man, Mark Ray, resident of Denver, was charged by criminal information in the scheme. Continue reading ›

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An investor who lost $1  million investing in variable annuities sold by Northstar Financial Services (Bermuda) has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Hancock Whitney Investment Services, Inc., and the Hancock Whitney broker who concentrated his retirement portfolio in Northstar offerings. The investor, a longtime banking client of Hancock Whitney, is seeking return of his principal and other damages. The investor lost the entirety of his principal when Northstar Bermuda filed for Chapter 15 bankruptcy amid a run on surrender requests. The debt-ridden Bermuda-based Northstar Financial Services (Bermuda) is now in liquidation proceedings, and Greg Lindberg, the owner of its holding company, is also facing SEC charges of misconduct. Silver law Group Has Filed Claims on Behalf of Northstar Financial Services (Bermuda) Investor Victims to Recover Losses Silver Law Group founder Scott Silver and the Law Firm of David Chase have filed claims on behalf of defrauded investors in Northstar to recover their investment losses. These Northstar investors were pitched on the safety and security of Northstar’s fixed and variable rate annuity-type products by their U.S.-based brokerage firms, including Truist Investment Services, Inc. (SunTrust), Bankoh Investment Services, J.P. Morgan Securities, and Ocean Financial Services.An investor who lost $1 million investing in variable annuities sold by Northstar Financial Services (Bermuda) has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Hancock Whitney Investment Services, Inc., and the Hancock Whitney broker who concentrated his retirement portfolio in Northstar offerings. Continue reading ›

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We’ve written frequently about GWG Holdings, the now-bankrupt Dallas-based company that bought out life insurance policies from people who needed cash more than their policies. The company sold those policies to other investors who would see a return when the original policyholder passed away. Then the company crashed and burned. The L Bonds, as they were called, required patience from investors. After all, the policy payout would come when the original policyholder died. Last August, the company temporarily halted the sales of their L Bonds, leading to a series of events that ended with GWG Holdings declaring bankruptcy in April of 2022. Investors in L Bonds were left with nothing. So, what happened to the investor’s funds that were going to earn them great returns?We’ve written frequently about GWG Holdings, the now-bankrupt Dallas-based company that bought out life insurance policies from people who needed cash more than their policies. The company sold those policies to other investors who would see a return when the original policyholder passed away.

Then the company crashed and burned. Continue reading ›

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If someone was attempting to steal your smartphone number, would your carrier help? One T-Mobile customer discovered that the carrier didn’t seem to care. Now T-Mobile is being sued in an Alabama federal court by a customer who lost his number when the company simply handed over his phone number to a hacker claiming to be him. Once the hacker had the number, they easily accessed the plaintiff’s email and bank accounts and transferring funds out. This is a crime that’s increasing in frequency and can cost millions to unsuspecting phone owners. SIM-Swapping Or SIM-Hacking Every cell and smartphone has something called a SIM card, or Subscriber Identity Module. This is the unique identifier is a small physical card that can be removed from one phone and inserted into another to move your account—and your identity—to the new phone.If someone was attempting to steal your smartphone number, would your carrier help? One T-Mobile customer discovered that the carrier didn’t seem to care.

Now T-Mobile is being sued in an Alabama federal court by a customer who lost his number when the company simply handed over his phone number to a hacker claiming to be him. Once the hacker had the number, they easily accessed the plaintiff’s email and bank accounts and transferring funds out. Continue reading ›

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Scott Silver, managing partner of Silver Law Group, was selected as a top-rated securities litigation attorney by Super Lawyers for 2022. Scott received the same award in 2021, and was previously selected for Super Lawyers’ Rising Stars list. Scott represents investors nationwide in securities arbitration, investment fraud, and stockbroker misconduct cases, as well as in plaintiff-side class action litigation and represents victims of Ponzi schemes. Silver Law Group represents individual investors and institutions in claims against investment advisors, brokerage firms, hedge funds and others. Scott also serves as counsel to receivers related to recovering investor losses from Ponzi schemes. Scott has vast experience representing investors in arbitration before FINRA (Financial Industry Regulatory Authority), AAA (American Arbitration Association), and NFA (National Futures Association).  Scott Silver, managing partner of Silver Law Group, was selected as a top-rated securities litigation attorney by Super Lawyers for 2022. Scott received the same award in 2021, and was previously selected for Super Lawyers’ Rising Stars list.

Scott represents investors nationwide in securities arbitration, investment fraud, and stockbroker misconduct cases, as well as in plaintiff-side class action litigation and represents victims of Ponzi schemes. Continue reading ›

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If Cabot Lodge Securities sold you L Bonds from GWG Holdings, Silver Law Group may be able to help you recover your investment losses. GWG Holdings filed for bankruptcy in April, 2022 and it is expected that L Bonds investors will lose a significant amount of their principal.  Silver Law Group represents GWG L Bonds investors in FINRA arbitration claims to recover their investment losses. Contact us at 800-975-4345 for a no-cost, confidential consultation. GWG L Bonds Are Speculative Investments GWG Holdings (GWGH) is a Texas-based financial services company that offers life insurance and alternative investments. L Bonds are a type of bond that buys life insurance policies from the policy holder. Bond investors’ money finances the life insurance policy, and investors are paid when the policy holder dies. L Bonds can offer a higher return than other bonds, but they also involve considerable speculation and high risk. Many investors claim that their broker-dealers, such as Cabot Lodge, did not inform them of the risks of investing in GWG L Bonds when they sold them and instead described them as a safe and secure source of income.If Cabot Lodge Securities sold you L Bonds from GWG Holdings, Silver Law Group may be able to help you recover your investment losses. GWG Holdings filed for bankruptcy in April, 2022 and it is expected that L Bonds investors will lose a significant amount of their principal.

Silver Law Group represents GWG L Bonds investors in FINRA arbitration claims to recover their investment losses. Contact us at 800-975-4345 for a no-cost, confidential consultation. Continue reading ›

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James Seijas (James Alan Seijas CRD# 2392901) is a former broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Short Hills, NJ. His former employers include TD Ameritrade, Inc. (CRD#:7870) of Morristown, NJ, Fidelity Brokerage Services LLC (CRD#:7784) of Wayne, NJ, and Barclays Capital Inc. (CRD#:19714) of New York, NY. He has been in the industry since 1997. Seijas worked for Wells Fargo Clearing Services from March of 2013 through March of 2019, when he voluntarily resigned. However, on March 24th, 2020, Wells Fargo filed an amendment to his Uniform Termination Notice For The Security Industry Registration Form, or Form U5. In the amended version, Wells Fargo revealed for the first time that Seijas had been named as a defendant in a lawsuit alleging that he was misrepresenting investments as part of a Ponzi scheme.James Seijas (James Alan Seijas CRD# 2392901) is a former broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Short Hills, NJ. His former employers include TD Ameritrade, Inc. (CRD#:7870) of Morristown, NJ, Fidelity Brokerage Services LLC (CRD#:7784) of Wayne, NJ, and Barclays Capital Inc. (CRD#:19714) of New York, NY. He has been in the industry since 1997. Continue reading ›

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