Hedge Funds

Archive | Hedge Funds

SEC Bars “Not So” Bright Trading Stockbroker For Fraud

Stephen Skeffington Eubanks of Las Vegas Nevada a stockbroker formerly employed by Bright Trading LLC has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser or otherwise associating with securities broker dealers or investment advisories according to an Order Instituting Administrative Proceedings Pursuant to Investment Advisers Act of 1940 […]

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FINRA Charges Huntington Stockbroker With Selling Away

William Joseph Kielczewski of Toledo Ohio a stockbroker formerly registered with The Huntington Investment Company has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that (1) Kielczewski partook in private securities transactions without notifying the firm beforehand and (2) Kielczewski falsified information to the firm concerning the private […]

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Investors Sue UBS Financial For Hedge Fund Fraud

Carolyn Marie Thur of Chicago Illinois of Oakbrook Terrace Illinois a stockbroker formerly registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $225,000.00 in damages founded on allegations that (1) omissions had been made to the customer concerning the risks, portfolio composition […]

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Wells Fargo Sued By Investors For Hedge Fund Fraud

Mikhail Filshtinskiy of Brooklyn New York a stockbroker formerly employed by Wells Fargo Advisors Financial Networks is the subject of a customer initiated investment related arbitration claim in which the customer requested $8,674,063.93 in damages founded on accusations that the customers were victim to a fraudulent scheme involving Filshtinskiy and a hedge fund manager. Financial […]

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Columbus Advisory Group Sued For $22.5 Million Private Placement Fraud

Michael Patrick Murphy of New York New York the Chief Executive Officer of Columbus Advisory Group Ltd. is the subject of a customer initiated investment related arbitration claim where the customer requested $22,500,000.00 in damages supported by accusations that the customer had been placed in direct participation program or limited partnership interests that were not […]

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Crown Capital Broker Caught In Alternative Investment Scheme

February 19, 2019  |   Posted by :   |   Alternative Investments, Hedge Funds, Stockbroker Fraud News   |   0 Comments

Thomas Edward Burns III of Orange California a stockbroker currently registered with Crown Capital Securities LP has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he was negligent in his confirmation of customer assets on customers’ alternative investment account […]

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RP Capital Pays $5.8 Million In Alternative Investments Lawsuit

Aaron Douglas Maurer of Aliso Viejo California a stockbroker formerly registered with RP Capital LLC is referenced in a customer initiated investment related written action brought in the District Court of Portland Oregon which was resolved for $5,795,000.00 on October 18, 2017 founded on allegations that (1) Maurer made misrepresentations to the customer concerning promissory […]

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SEC Bars Wells Fargo Advisors Broker For Fraud

Aaron Robert Parthemer of Fort Lauderdale, Florida has been fined $160,000.00 and barred from being a broker or investment adviser or otherwise associating with any brokers or investment advisories according to an Order Making Findings and Imposing Sanctions Pursuant To Securities Exchange Act of 1934 Section 15(b), Investment Advisers Act of 1940 Section 203(f) and […]

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MARV Capital Broker Fined For Misleading Communications

August 13, 2018  |   Posted by :   |   Hedge Funds, Stockbroker Fraud News   |   0 Comments

Frank Thomas Marino of Newport Beach California a stockbroker formerly employed by MARV Capital Inc. has been fined $15,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unwarranted and false references within investment related communications. Letter of […]

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SEC Charges Premium Point With Securities Fraud

July 31, 2018  |   Posted by :   |   Hedge Funds, Stockbroker Fraud News   |   0 Comments

Premium Point Investments LP, a Securities and Exchange Commission (SEC) registered investment advisor headquartered in New York, New York, as well as its chief executive officer, Anilesh Ahuja (also known as Neil Ahuja), portfolio manager, Amin Majidi, and trader, Jeremy Shor, have collectively been charged by SEC in a Complaint alleging that they have committed, […]

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Growth Capital Broker Found Selling Away

July 31, 2018  |   Posted by :   |   Hedge Funds, Selling Away, Stockbroker Fraud News   |   0 Comments

Kenny Danny Mezher of San Francisco California a stockbroker formerly registered with Growth Capital Services Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he participated in unauthorized private securities transactions. Letter of Acceptance Waiver and Consent No. […]

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CapWest Securities Broker Barred In Hedge Fund Scheme

Robert Russell Tweed of San Marino California a stockbroker formerly employed by CapWest Securities Inc. has been fined $50,000.00 and barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Extended Hearing Panel Decision containing findings that Tweed (1) made misleading and false statements to hedge fund customers […]

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Wall Street Broker Barred For Failure To Pay Arbitration Award

Louis Karl Kittlaus of Chicago Illinois a stockbroker formerly registered with Wall Street Strategies Inc. has been suspended on April 10, 2018 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that he failed to confirm with FINRA whether he complied with FINRA Arbitration No. 15-02941 (Dec. 8, […]

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SEC Bars Sunbelt Securities Broker For Selling Away

February 19, 2018  |   Posted by :   |   Hedge Funds, Selling Away, Stockbroker Fraud News   |   0 Comments

Donna Boyd of Houston Texas is an investment adviser and stockbroker formerly registered with Sunbelt Securities that has been barred by the Securities and Exchange Commission (SEC) from acting as an investment adviser or broker according an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Section 203(f) […]

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SEC Bars Enviso Capital Principal For Misstatements

January 10, 2018  |   Posted by :   |   Hedge Funds, Stockbroker Fraud News   |   0 Comments

Ryan Neel Bowers, of San Diego, California, the chief compliance officer and managing principal with Enviso Capital and former stockbroker with WFG Investments, Inc., has been fined $50,000.00 and barred from associating with, inter alia, any investment adviser, broker or dealer according to a Securities and Exchange Commission (SEC) Order containing findings that Bowers made […]

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CV Brokerage Stockbroker Suspended

July 05, 2017  |   Posted by :   |   Hedge Funds, Stockbroker Fraud News   |   0 Comments

John Joseph Tillger Jr., of West Conshohocken, Pennsylvania, a stockbroker formerly registered with CV Brokerage, Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he did not respond to FINRA’s request for information in reference to a customer initiated investment related dispute settlement […]

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Summit Equities Censured For Failure To Supervise

May 18, 2017  |   Posted by :   |   Hedge Funds, Selling Away, Stockbroker Fraud News   |   0 Comments

Summit Equities, Inc., a brokerage firm headquartered in Parsippany, New Jersey, has been censured and fined $325,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm did not adequately supervise registered representatives’ private securities transactions as well as recommendations of variable annuity share classes. Letter of Acceptance, Waiver and Consent, […]

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Optimal Economics Capital Partners Charged With Fraud

Patrick O. Howard, of Dallas, Texas, along with two entities controlled by him, Howard Capital Holdings, LLC, and Optimal Economics Capital Partners, LLC, have been charged by the Securities and Exchange Commission (SEC) in a Complaint alleging that Howard and his firms committed securities fraud. Securities and Exchange Commission v. Patrick O. Howard, et al., […]

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Fox Financial Fails To Supervise Private Securities Transactions

January 26, 2017  |   Posted by :   |   Failure To Supervise, Hedge Funds, Stockbroker Fraud News   |   0 Comments

Sanctions levied on Fox Financial Mangement Corporation, a brokerage firm based on Carrollton, Texas, along with principals Brian A. Murphy, of Frisco, Texas, and James E. Rooney, Jr., of Carrollton, Texas, were affirmed by Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council in a Decision which confirmed findings that the firm and principals, inter alia, […]

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Summer Street Principal Suspended For Failure To Supervise

January 26, 2017  |   Posted by :   |   Failure To Supervise, Hedge Funds   |   0 Comments

Cyrus M. Alphonse, of Boston, Massachusetts, a former registered principal with Summer Street Research Partners, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity based upon consenting to findings that, inter alia, he failed to supervise a subordinate registered representative’s private securities transactions. Letter […]

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Dougherty Company Stockbroker Charged With Selling Away

December 24, 2016  |   Posted by :   |   Alternative Investments, Hedge Funds, Stockbroker Fraud News   |   0 Comments

Michael Timothy Dolan, of Minneapolis, Minnesota, a stockbroker currently registered with Dougherty & Company LLC, was charged by Financial Industry Regulatory Authority Department of Enforcement in a Complaint alleging that Dolan effected unauthorized private securities transactions. Department of Enforcement v. Dolan, No. 2013039306601 (Dec. 14, 2016). According to the Complaint, from October of 2010 to October […]

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Summit Equities Stockbroker Suspended For Failure To Supervise

Rembert D. McNeer III, of Parsippany, New Jersey, a stockbroker formerly registered with Summit Equities, Inc., was fined $10,000.00 and suspended for one-year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he failed to properly supervise the activity of a Summit Equities registered representative. Letter […]

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Berthel Fischer Stockbroker Barred In Investigation

September 16, 2016  |   Posted by :   |   Alternative Investments, Hedge Funds, Stockbroker Fraud News   |   0 Comments

Jerry McCutchen, of Mobile, Alabama, a stockbroker for Berthel, Fisher & Company Services, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations that McCutchen made unsuitable alternative investment recommendations. Letter of Acceptance, Waiver and Consent, […]

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Triad Advisors Stockbrokers Barred for Selling Away

Gary Lee Rathbun and Douglas Scott Miller, both of Toledo Ohio, and stockbrokers for Triad Advisors, Inc., were permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after engaging in unauthorized outside business activities. Letter of Acceptance, Waiver and Consent, No. 2014041919401 (May 17, 2016). According to the AWC, […]

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Self-dealing Costs J.P. Morgan Securities $367 Million

December 18, 2015  |   Posted by :   |   Alternative Investments, Hedge Funds   |   0 Comments

J. P. Morgan Securities LLC is the securities broker-dealer subsidiary of J.P. Morgan, and as a broker-dealer sells securities and investment services through approximately 2,800 financial advisors located in Chase bank branches nationwide. As of the end of last year, J.P. Morgan, the bank, has $2.6 trillion in assets and J.P. Morgan Asset Management also […]

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Pharma-boy Martin Shkreli Charged With Defrauding Hedge Fund Investors And Stealing $11 Million In Assets

December 17, 2015  |   Posted by :   |   Alternative Investments, Hedge Funds   |   0 Comments

Today, the United States Attorney for the Eastern District of New York unsealed a seven-count indictment Martin Shkreli and his lawyer with securities fraud. According to the indictment, between September 2009 and January 2011, Shkreli falsely represented to potential investors his company MSMB Capital was a transparent investment vehicle for sophisticated investors with monthly liquidity, […]

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IBN Financial Services Planner Barred For Defrauding Customers

Anthony Diaz of Scotrun, PA, formerly a financial planner with IBN Financial Services, was permanently barred from association with any FINRA registered firms after consenting to FINRA allegations that Diaz engaged in unsuitable variable annuity exchanges, deceptively used falsified financial information and dates, committed fraud in connection with alternative investments, falsified books and records, engaged […]

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Citigroup Global Markets Inc. Consent to $178 Million Fine For Hedge Fund Fraud

Citigroup Alternative Investments LLC is a subsidiary of Citigroup Global Markets Inc., and between 2002 and 2008, they raised approximately $2.898 billion from approximately 4,000 investors into two now-defunct hedge funds—the ASTA and MAT funds (“ASTA/MAT”) and the Falcon Strategies funds (“Falcon”). These funds were recommended and sold by two groups of individuals, the “financial […]

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New York Securities Brokers Charged in Fraudulent Scheme

General securities representatives Timothy Stephen Dembski and Walter Francis Grenda Jr., both former employees with Mid Atlantic Capital Corporation (“MACC”) in Cheektowaga, NY, were charged by FINRA’s Department of Enforcement in a Complaint containing allegations that the individuals engaged in fraudulent misrepresentations and omissions in violation of Section 10(b) of the Securities Exchange Act of […]

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Oppenheimer Global Resource Private Equity Fund Manager Admits to Fraud

February 20, 2015  |   Posted by :   |   Hedge Funds, Stockbroker Fraud News   |   0 Comments

Brian Williamson, the Managing Director of the sub-advisor to the Oppenheimer Global Resource Private Equity Fund Manager consented to the entry of an Order finding that he willfully violated Section 17(a) of the Securities Act; Section 10(b) of the Exchange Act and Rule 10b-5 thereunder; and Section 206(4) of the Advisers Act and Rule 206(4)-8. […]

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Ponzi Scheme Award of the Year Goes to This Man

February 16, 2015  |   Posted by :   |   Hedge Funds, Ponzi Scheme, Stockbroker Fraud News   |   0 Comments

Welcome to America! You Can’t Make This Stuff Up America is the land of opportunity. Pakistani citizen and New York resident, Moazzam “Mark” Malik worked as a waiter, and NYPD traffic agent, and a security guard. After “working” at Lehman Brothers, JP Morgan Chase and Merrill Lynch, since 2002. Mark Malik manages more than $1 […]

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