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….
Securities Fraud
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…
Portfolio Advisors Alliance, Inc. (Portfolio) was sanction by securities regulators, in part, due to Portfolio’s failure to perform due diligence concerning private placements, according to a settlement agreement entered into by Portfolio and the Financial Industry Regulatory Authority…
The Financial Industry Regulatory Authority (“FINRA”) recently announced that it was fining Brown Brothers Harriman & Co. (BBH) $8 million for failing to meet its compliance obligations relating to anti-money laundering compliance. Such failures caused BBH to fail…
Timothy David Burns, an investment professional in Conshohocken, Pennsylvania, was sanctioned by the Pennsylvania Department of Banking and Securities. Burns, owner and manager of ESG Wealth Management and ESG Family Services, consented to the sanctions levied by the…
Thomas L. Hampton, a Scottsdale, Arizona investment professional, pled guilty to commodities fraud in connection with an investment scheme that defrauded investors out of millions of dollars between September, 2010 and September, 2011. Hampton managed Hampton Capital Markets…
05 Feb: Brokerage Firm, Instinet, Approved Improper Commission Rebate Payments To Investment Adviser
According to a recent Cease and Desist Proceeding filed by the Securities and Exchange Commission, to which Instinet, LLC (“Instinet”) has submitted an Offer of Settlement, from January 2009 through July 2010, Instinet approved approximately $430,000 in commission…
Vendetta Partners, a Texas Company ran by Robert A. Helms and Janniece S. Kaelin, had its assets were frozen by the SEC after being accused of running an $18 million Ponzi scheme in purported purchases of oil and gas royalties. Robert Helms and Janniece…