Investment fraud lawyers continue to investigate claims on behalf of elderly individuals who have been the victims of affinity fraud. In many cases, it is up to the children and grandchildren of elderly individuals to discover and put a stop to the victimization of their loved ones by fraudsters. A recent article in Forbes examined…
Continue reading ›Two former JP Morgan Chase Securities Inc.-registered brokers, Fernando L. Arevalo and Jimmy E. Caballero are the subjecct of regulatory charges alleging theft. Reportedly, the Financial Industry Regulatory Authority (FINRA) permanently barred both Caballero and Arevalo from the securities industry. FINRA’s investigation of the two brokers found that they allegedly collaborated to steal approximately $300,000…
Continue reading ›Investment fraud lawyers are currently investigating claims on behalf of elderly seniors who have been the victim of affinity fraud or other investment scams. Affinity fraud is an investment scam that targets an identifiable group such as seniors, ethnic communities, professional groups, religions groups, etc. In one recent claim, Gary C. Snisky reportedly targeted and…
Continue reading ›Securities fraud attorneys are currently investigating claims on behalf of investors who suffered significant losses as a result of doing business with Wells Fargo Advisors and James Arnold Busch. Reportedly, Busch, a former Wells Fargo advisor, recently entered into a Letter of Acceptance, Waiver and Consent (AWC) regarding alleged misappropriation of funds from brokerage customers.…
Continue reading ›Stock fraud lawyers are currently investigating claims on behalf of investors who suffered significant losses as a result of doing business with Bambi Holzer. According to a Forbes article, Holzer’s investment advice has resulted in securities settlements amounting to more than $12 million. Despite this article, which appeared three years ago, her trades are still…
Continue reading ›On June 15, coinciding with World Elder Abuse Awareness Day, the Consumer Financial Protection Bureau (CFPB) announced that it would be launching a public inquiry regarding the financial exploitation of elder Americans. The CFPB is a new agency that will be policing consumer financial products, and investment fraud lawyers applaud its choice to focus its…
Continue reading ›Affinity fraud is a scam in which personal contacts are used by the perpetrator to defraud a specific group of people. While religious fraud is common, church congregations are not the only breeding grounds for affinity fraud. Investment attorneys urge the public to be aware that any tight-knit community can be a target. Groups targeted…
Continue reading ›The North American Securities Administrators Association (NASAA) released its annual report last month on enforcement actions to fight securities fraud. The report compares the data on securities fraud enforcement actions from 2010 to that of 2009. According to the report, the number of actions pursued in 2010 rose 51 percent, a major jump from 2009.…
Continue reading ›Affinity fraud is nothing new in the investment word. It involves targeting faith-based organizations, professional associations and community service groups. The victims of affinity fraud are tied together through common interests, professions, faith, hobbies and lifestyles. Scammers then use this common ground to establish a relationship with their victims, making stealing much, much easier. Now…
Continue reading ›Roy Fluker Jr. was finally sentenced to 15 years in federal prison in connection with an investment and mortgage fraud scheme, something that should have taken place last December. Fluker’s son, Roy Fluker III, and daughter, Ronnanita Fluker, are already serving eight-year prison terms for the scheme. Fluker Jr., who failed to appear for sentencing…
Continue reading ›
