Did You Invest with BKCoin Management?
On March 6, 2023, the Securities and Exchange Commission (SEC) announced action against Miami-based investment adviser BKCoin Management LLC and one of its principals, Kevin Kang, for allegedly defrauding investors in a crypto asset fraud scheme. BKCoin Management Was a Ponzi Scheme In a complaint filed under seal on February 23, 2023, and unsealed on […]
Current and Former Wells Fargo Brokers with Significant Disclosure Histories
MDF Law releases a report identifying current and former associated persons from Wells Fargo Advisors who have significant disclosure histories. The report analyzed data as of January 3, 2023. Individuals who are included in this report are statistically more likely to be involved in a new customer complaint. See “How Widespread and Predictable is Stock […]
Gemini Earn Suspends Withdrawals: Legal Options?
On November 16, 2022, Gemini Earn paused all withdrawals from its platform, providing little public updates since. According to Gemini’s Website, the pause was due to a “liquidity issue duration mismatch between Genesis’ assets and its liabilities.” In plain English, this means that Genesis, Gemini’s lending partner, heavily borrowed against customer’s assets and is insolvent […]
FINRA Announces Investigation into James Stuart of Richfield Orion International
On October 27, 2022, FINRA announced that it was recommending disciplinary action against James Stuart (CRD 3022149) of Richfield Orion International in Castle Rock, Colorado. The actions related to excessive trading in customer accounts. If you or someone you know lost money investing with James Stuart of Richfield International, please contact our law office at […]
FINRA Releases Information about Recent Broker Terminations
MDF Law is investigating the terminations for cause of the following individuals: Chip Wodrich (formerly of Honor Townsend & Kent), Robert Mehlin (formerly of Coastal Equities, Inc.), Dusty Sternadel (formerly of Ameriprise Financial Services), Gary Chang (formally of Morgan Stanley), Brent Hablutzel (formally of Rockefeller Financial), Chad Barancyk (formally of Great Point Capital), Daniel Ballister […]
Fariba Madison Involved in Investor Complaint over GWG L Bonds
We are investigating Fariba Madison (CRD #1178259) for sales practice violations related to the marketing of GWG L Bonds. Ms. Madison is currently registered with Western International Securities in Los Alamitos, California. The information contained in this article is based on disclosures contained on her public securities license as well as other information. The public […]
Arbitration Complaint Filed Against Morgan Stanley Concerning Shawn Good
MDF Law announces the filing of an arbitration complaint against Morgan Stanley concerning the negligent supervision of North Carolina broker Shawn Good. The arbitration was filed before the Financial Industry Regulatory Authority, or FINRA, and was assigned case number 22-00944. If you or someone you know was a victim of Shawn Good, please call attorney […]
Recovery Options for Clients of Philip Riposo & Riposo Asset Management
On March 3, 2022, Philip Riposo was fired from United Planners’ Financial Services for allegedly falsifying account statements and other documents related to Riposo Asset Management. According to records accessed from FINRA on April 20, 2022, Mr. Ripsos was terminated for admitting to creating and providing clients with fake account statements from “Zurich Kemper Investments.” […]
FINRA Rule 2165: Protecting Seniors by Freezing Assets
In 2018, FINRA adopted FINRA Rule 2165 to combat extremely high incidences of elder financial abuse. In 2020, Elder Fraud claimed over 100,000 victims, summing up to losses of nearly $1 billion. According to a report by the Internet Crime Complaint Center (IC3), the 60+ demographic was hit the hardest, both in the number of […]
Investment Losses and Taxes: What Investors Need to Know for 2022
Monday April 18, 2022 is right around the corner and many investors are considering how to treat their 2021 investment losses, especially from ponzi schemes, for tax purposes. The following is an educational reference, which should not take the place of professional advice. Investment Losses Caused by Ponzi Schemes Fortunately, the tax code does provide […]