While marijuana-related investments grow in popularity, the SEC has reportedly received more associated complaints from investors. As a result, the Securities and Exchange Commission warns individuals to be mindful of certain risks before investing in marijuana-related companies. The SEC released an investor alert with this warning after medical marijuana company…
Patrick Churchville of Rhode Island has been accused of orchestrating a $21 million Ponzi scheme and was recently sentenced to 7 years in prison by a federal judge, according to an Investment News report. Mr. Churchville is the owner and president of ClearPath Wealth Management and according to SEC’s complaint,…
We frequently represent individuals who have received an SEC Subpoena, and often the first question asked is, “Why did I get this subpoena? I did nothing wrong.” The SEC investigates many kinds of misconduct, and the people they seek information and documents from (through the use of Subpoenas) very often are…
Salesperson seems to openly live a lavish lifestyle: The most famous Ponzi schemers have been infamous for their extravagant lifestyles. Scott Rothstein, the mastermind in a $1.2million Ponzi scheme said, “We were living like rock stars; private jets, massive amounts of money. There were lots of things that kept fueling that,” in…
Wells Fargo financial advisors, David Jeremy Welty and Ane Plate have been barred from the securities industry by FINRA and the SEC, respectively, per AdvisorHUB. Both advisors were accused of stealing customer funds. Welty was alleged to have converted $8,700 for personal expenses from an account that was originally set…
Alliance for Investor Education and the PIABA Foundation is Hosting an Educational Conference about Securing Investors’ Financial Futures The National Investor Town Hall Meeting is a day-long series of presentations, free to the public, aimed at educating investors about the risks and rewards of financial investing. It will be held…
Generally speaking, it’s usually not a good thing when when a company is fined for similar conduct multiple times. Just this month, UBS Financial Services, Inc. submitted a Letter of Acceptance, Waiver and Consent No. 2013038351701 (AWC) that detailed a $250,000 fine for failures in supervision regarding sales of mutual…
The investment and securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints regarding Alexander Capital LP financial advisor Rocco Guidicipietro. According to his BrokerCheck report maintained by the Financial Industry Regulatory Authority (“FINRA”), Mr. Guidicipietro was most recently with Legend Securities and JP Turner…
The Financial Industry Regulatory Authority (FINRA) announced on July 19, 2016 in a News Release that it had fined Prudential Annuities Distributors, Inc. $950,000 for “failing to detect and prevent a scheme that resulted in the theft of approximately $1.3 million from an 89-year-old customer’s variable annuity account. Prudential Annuities Distributors…
The securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against stockbroker Walter Marino. Mr. Marino is currently employed and registered with Lincoln Investment, a broker-dealer, working out of the Dix Hills, New York office, according to his publicly available BrokerCheck, as maintained by…