CategorySTORIES

Two U.S. Agencies Examining Investments Sold by Crowdfunding Site YieldStreet

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13 Aug Two U.S. Agencies Examining Investments Sold by Crowdfunding Site YieldStreet Posted at 09:00h in Blog by prwlegal201 YieldStreet | WallStreet Journal | Dawn Lim and Dave Michaels | August 12, 2020 “SEC is investigating firm; FBI is collecting information on some of its practices Two U.S. agencies are examining investments sold by YieldStreet Inc., an online platform that pitches...

GPB Capital | Ex-SEC Examiner Wants Bench Trial Over Feds’ Protest

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12 Aug GPB Capital | Ex-SEC Examiner Wants Bench Trial Over Feds’ Protest Posted at 14:15h in Blog by prwlegal201 GPB Capital | Law360 | August 10, 2020 “Law360 (August 10, 2020, 2:43 PM EDT) — A former compliance examiner accused of stealing information from the U.S. Securities and Exchange Commission sought a rare criminal bench trial over prosecutors’ objections on...

PONZI SCHEME RAKING IN UP TO $7 MILLION IN PAYCHECK PROTECTION PROGRAM LOANS SHOULD BE COMPELLED TO RETURN FUNDS TO TAXPAYERS

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08 Jul PONZI SCHEME RAKING IN UP TO $7 MILLION IN PAYCHECK PROTECTION PROGRAM LOANS SHOULD BE COMPELLED TO RETURN FUNDS TO TAXPAYERS Posted at 13:53h in Blog by prwlegal201 “Outrageous Abuse of System” for $1.8 Billion Scheme Under Investigation by SEC & Subject of MA Legal Action to Benefit From COVID-19 Relief NEW YORK CITY//July 8, 2020//The discovery that the controversial GPB...

TAKING DOWN SUPPLY CHAIN OF GREED – UNRAVELING GPB CAPITAL PONZI SCHEME FACES INTENSIFIED CLASS ACTION LAWSUIT NEARLY THREE DOZEN FINRA ARBITRATION CASES

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30 Jun TAKING DOWN SUPPLY CHAIN OF GREED – UNRAVELING GPB CAPITAL PONZI SCHEME FACES INTENSIFIED CLASS ACTION LAWSUIT NEARLY THREE DOZEN FINRA ARBITRATION CASES Posted at 12:53h in Blog by prwlegal201 “Week of Reckoning” Arrives For Swindle With 2,000 Victims & Nearly $1.8 Billion in Losses; Strong Texas Connection and Lure of String of Auto Dealerships Key to Scheme...

A new rule could make it harder to figure out if your financial advisor is on your side

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This summer, it may become more difficult for investors to determine whether a financial advisor indeed has their best interests at heart. Starting June 30, financial advisors who are affiliated with broker-dealers legally will be required to place clients’ interests first when they give financial advice. This rule, which was handed down by the Securities and Exchange Commission and is...

As SEC’s Reg BI Deadline Looms, Firms Face A ‘Very Big Lift’

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Law360 (June 5, 2020, 7:17 PM EDT) — With the compliance deadline for the U.S. Securities and Exchange Commission’s Regulation Best Interest fast approaching on June 30, broker-dealers and those who advise them are gearing up for a slew of new requirements that attorneys acknowledge will be a “very big lift.” The new SEC rule aims to tighten the rules of conduct for broker...

‘Bankrupt in Just Two Weeks’—Individual Investors Get Burned by Collapse of Complex Securities

03 Jun ‘Bankrupt in Just Two Weeks’—Individual Investors Get Burned by Collapse of Complex Securities Posted at 13:15h in Blog by prwlegal201 Investors | The Wall Street Journal | Akane Otani and Sebastian Pellejero | June 1, 2020 “When William Mark decided to get back into investing after the 2008 financial crisis, he looked past stocks and bonds. Needing to play...

The economic crisis will expose a decade’s worth of corporate fraud

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When Bernie Madoff owned up to a $65bn Ponzi scheme in December 2008, it was not out of guilt. He knew the game was up. Three months earlier Lehman Brothers had imploded. The market meltdown sent clients clamouring to withdraw from his funds, leaving them depleted with many investors still unpaid. American regulators had not spotted the fraud, despite a tip-off years earlier. It was not them that...

Coronavirus scams, feeding off investor fears, mimic fraud from the 2008 financial crisis

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24 Mar Coronavirus scams, feeding off investor fears, mimic fraud from the 2008 financial crisis Posted at 13:33h in Blog by prwlegal201 Coronavirus | CNBC | Greg Iacurci | March 23, 2020 “Coronavirus scams are emerging, and many look remarkably similar to frauds from the 2008 financial crisis. Government agencies like the Federal Trade Commission and Federal Deposit Insurance Corp...

PEIFFER WOLF – CORONAVIRUS CRASH TO SEE LARGE-SCALE ABUSES OF INVESTORS SEEKING BETTER RETURNS

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20 Mar PEIFFER WOLF – CORONAVIRUS CRASH TO SEE LARGE-SCALE ABUSES OF INVESTORS SEEKING BETTER RETURNS Posted at 11:54h in Blog by prwlegal201 “Paying the Price for Killing a Real Fiduciary Rule”: Risky, High-Commission Investment Schemes Already Being Promoted to Unwary Investors Hit With Major Portfolio Losses; How to Spot and Avoid Four Types of the Worst Investment Situations...

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