Securities America and Medical Capital Holdings Investigation
Zamansky & Associates is investigating potential investor claims against Securities America, an independent brokerage firm, as well as its parent company, Ameriprise Financial, for the sale of private placement notes in Medical Capital Holdings, a medical receivables company that is facing charges of fraud from the Securities and Exchange Commission. We are also looking into claims against other broker-dealers who sold notes issued by Medical Capital Holdings.
According to reports, the SEC has accused Medical Capital Holdings of fraud for the sale of $700 million of private securities in the form of notes. Since that time, a court-appointed receiver has evaluated Medical Capital’s assets and has questioned the structure of the six deals Medical Capital sold from 2003 to 2008. In total, Medical Capital raised $2.2 billion from investors.
Apparently, brokers continued to sell Medical Capital notes even after an executive at Securities America sent an email to an official at Medical Capital, in which he expressed grave concerns about a possible “run on the bank” at Medical Capital.
To learn more about our investigation or to pursue a potential claim please contact us here.
Jacob ("Jake") H. Zamansky is one of the country’s foremost authorities on securities arbitration law, the legal recourse for investors claiming broker wrongdoing, or for brokers claiming wrongful termination or other misconduct by their employer. Zamansky & Associates, the New York-based law firm he founded, represents both individuals and institutions in complex securities, hedge fund, and employment arbitrations.
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