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On December 18, 2018, media reports revealed that Massachusetts’ securities regulators are investigating GPB Capital Holdings, which sold approximately $1.8 million of its private funds. The funds were sold through independent brokerage firms that reportedly received 10% commissions for pushing these funds on investors. These investments, however, were highly speculative and risky private placements that …
The law firm is investigating Optionsellers.com, a small commodities firm that failed over the weekend. The firm, which was long WTI, short natural gas, was forced to unwind. President James Cordier issued a full apology video to investors. Zamansky LLC is investigating whether the Optionsellers.com’s risk systems were overwhelmed. If you were a customer of …
On September 26, 2018, the Financial Times reported that TFS-ICAP, the foreign exchange brokerage firm, pleaded guilty to securities fraud in relation to a criminal investigation by the New York Attorney General’s Office into foreign exchange currency options. The charges stem from an investigation into the posting of fake trades, bids, and offers — commonly …
The law firm is investigating former Wells Fargo financial advisor John Greg Schmidt (“Schmidt”) also known as Greg Schmidt. On September 25, 2018 the Securities and Exchange Commission (SEC) filed a complaint against Schmidt, alleging he engaged in a “Ponzi” scheme for years where he stole funds from customers’ accounts. The Financial Industry Regulatory Authority …
The law firm is investigating alternative investments sold by Purshe Kaplan Sterling Investments Inc. (“Purshe Kaplan”), the brokerage firm based in Albany, New York, with branches located throughout the country. If you are an investor in an alternative investment such as Spring Hills Holdings or GPB Holdings, please contact us for a review of your …
The law firm is investigating a potential class action on behalf of AmEx cardholders who are small or mid-sized business which were allegedly over-charged on foreign currency transactions. If you are a small or mid-sized business owner recruited by AmEx, you may be a victim of alleged over-charges on foreign transactions. On September 5, 2018, …
The law firm is investigating the alleged $1 billion Ponzi scheme by the Woodbridge Group of Companies LLC (“Woodbridge”) in Florida. On December 20, 2017, the SEC filed a complaint against Woodbridge and its officers and various related entities alleging that it was operating a Ponzi scheme. The SEC accused Woodbridge of raising over $1.22 …
The law firm is investigating Newbridge Securities Corp. (“Newbridge”) located in Boca Raton, Florida, and Sandlapper Securities LLC (“Sandlapper”) located in Greenville, South Carolina, over sales of private investments to investors. According to a recent Wall Street Journal article, investors at Newbridge “have a one in four chance of getting a broker there with at …
The law firm is investigating Dean Mustaphilli and his hedge fund, Mustaphilli Capital Partners Fund, L.P., for alleged fraud, as well as potential claims for supervisory failures and aiding and abetting by his trading firms. On June 14, 2017, the New York Attorney General’s Office charged Mustaphilli with defrauding elderly investors of millions of dollars. …
The law firm is investigating Premium Point Investments LLP (“Premium Point”), which managed two hedge funds, the Premium Point Mortgage Credit Fund Ltd. and the Premium Point New Issue Opportunity Fund Ltd. These funds each had onshore and offshore feeder funds. On May 9, 2018, the SEC filed a Complaint against Premium Point and its …
Mr. Zamansky's securities law blog is closely read and monitored by regulators and influential financial reporters and has prompted several major news and feature stories.
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