A FINRA arbitration panel recently ruled for investors against clearing house Pershing LLC (“Pershing”) relating to Pershing’s involvement with the Stanford Ponzi scheme. In Cagle et al v….
Read More
The Securities and Exchange Commission (“SEC”) was recently granted a temporary restraining order and asset freeze relating to an alleged Ponzi scheme involving Johanna M. Garcia and the…
Two final defendants recently pled guilty in the massive Woodbridge Group of Companies LLC (“Woodbridge”) Ponzi scheme that bilked some 7,000 investors out of approximately $1.29 billion. Dane…
Last month, the SEC announced yet another enforcement action involving a special purpose acquisition company (“SPAC”). A SPAC is a publicly traded shell company that has no underlying…
The Texas State Securities Board (“TSSB”) and the Alabama Securities Commission (“ASC”) recently issued cease and desist orders against First Class Wealth Management (“First Class”), ordering it to…
Wayde McKelvy, 59, of Aurora, Colo., was recently sentenced to 18 years in prison for operating a $54 million Ponzi scheme described as one of the largest green…
