Joe Peiffer was recently quoted in an article that appeared in the magazine Financial Planning. The article concerned brokers’ meaningless self-designations as “retirement specialists.” LPL Financial recently paid a fine of $250,000 in relation to ten of its…
Securities Fraud
07 May: Barry Bekkedam Accused of Securities Fraud in Connection with Scott Rothstein’s Ponzi Scheme
Barry R. Bekkedam, the former owner, Chairman, and CEO of Ballamor Capital Management, LLC, is accused of committing securities fraud by the Securities and Exchange Commission (“SEC”). From April through October 2009, Bekkedam encouraged his clients and others…
Harry Stokes orchestrated a Ponzi scheme and defrauded investors out of millions of dollars, according to a complaint filed in North Carolina state court. Stokes was licensed to sell investment products and owned an insurance firm, Contemporary Benefits…
Hundreds of individuals invested over $16 million in a fruitless gold mining venture organized by Nekekim Corporation and its CEO, Kenneth Carlton, according to a complaint filed by the Securities and Exchange Commission. Nekekim and Carlton defrauded investors…
Daniel Howard Glick, formerly with Transamerica Financial Advisors, Inc., was barred from the securities industry by the Financial Industry Regulatory Authority (FINRA) in connection with claims Glick forged clients’ signature on documents in order to gain access to…
Bret L. Boteler, the president of EnerMax, Inc., raised $17.26 million through the fraudulent offer and sale of securities to over 250 investors in more than 40 states without registering any offering, according to a complaint filed by…
Prock v. Thompson National Properties, LLC, et al., a securities class action filed on behalf of investors in the TNP 6700 Santa Monica Boulevard, a real estate investment program that raised approximately $17 million from the investing public….
Inland Diversified Real Estate Trust Inc. has said that it has agreed to merge with Kite Reality Group Trust, a publicly traded REIT in a $2.1 billion all-stock deal. The merger is expected to close between the second…
Plaintiffs can now bring class actions under state Blue Sky Laws against those who aided and abetted Ponzi schemes where the investment program was purported to be related to a security traded on a national stock exchange –…
Colorado Financial Service Corporation (CFSC) was sanctioned by securities regulators after regulators accused CFSC of failing to conduct due diligence concerning private placements and non-traded real estate income trusts (REITs). CFSC agreed to pay a $10,000 fine levied…