SEC Files Fraud Charges against Knight Nguyen Investments and Forrest Jones  

Fraud

Former Knight Nguyen Investments adviser Forrest Jones (CRD# 4880765) has been suspended by the Financial Industry Regulatory Authority (FINRA) and is the subject of a pending civil action by the Securities and Exchange Commission. According to his FINRA BrokerCheck report, accessed on February 16, 2022, he was last registered as a broker with Merrill Lynch […]

SEC Files Complaint Against CapWealth Advisors and Tim Pagliara

account-accounting-achieve-activities-adults-advertisements-advertising-agency-applications-applying

CapWealth Advisors principal Tim Pagliara (CRD# 733637) has been charged by the Securities and Exchange Commission in connection to his firm’s mutual fund sales practices. According to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report, accessed on February 15, 2022, he was previously registered as a broker with CapWealth Investment Services in Franklin, Tennessee. His […]

Denny Bhakta Charged by SEC with Operating Ponzi Scheme

Red Flag of Danger

Denny Bhakta has been arrested and charged with running a ponzi scheme that raised more than $15 million from more than 40 victims.  Through his companies Fusion Hotel Management and Fusion Hospitality Corporation, Bhakta is accused of raising money from investors by telling them that, through connections in the industry, he was able to purchase […]

SEC Accuses Heartland Group Ventures of Lying to Investors

a-silhouette-of-crude-oil-and-natural-gas-in-northwest-oklahoma-silhouette_t20

On December 1, 2021, the Securities and Exchange Commission (SEC) announced charges against Heartland Group Ventures and seven other Heartland-affiliated entities, including Heartland Drilling.  The SEC complaint details the alleged scheme in which $122 million was raised from 700 investors nationwide purportedly for working on existing and drilling new oil wells.  James Ikey, John Muratore, […]

Newman Ladd Capital Advisors Fined by the SEC

A man holds a tower of blocks with the word Rules from falling. Setting clear rule and restrictions. Leadership and discipline. Authoritarianism, tight control framework. Norms and laws in society

The Securities and Exchange Commission (SEC) announced a fine of Newman Ladd Capital Advisors for failure to comply with SEC regulations.  According to the Order, Newman Ladd was required to file its initial Form CRS and begin delivering this Form CRS to prospective and new investor clients by June 30, 2020.  The firm failed to […]

Jeffrey Slothower Indicted for Defrauding Investors

Male hands in handcuffs close-up

Jeffrey Slothower (CRD # 3064787), a former broker and registered investment adviser, has been charged with wire fraud, investment adviser fraud, and money laundering, pursuant to an indictment that was unsealed by the U.S. Attorney’s Office for the Eastern District of New York on December 6, 2021.  In a companion matter to the criminal complaint, […]

Alpha Plus and Other Accused of $40 Million Fraud

account-accounting-achieve-activities-adults-advertisements-advertising-agency-applications-applying

The Securities and Exchange Commissioner (SEC) charged Joseph Cammarata (CRD 2469569), a financial broker formerly with Traderfield Securities, with stealing at least $40 million.  Erik Cohen, David Punturieri, and two entities, Alpha Plus Portfolio Recovery Corp. and Alpha Plus Recovery LLC (“AlphaPlus”), have also been charged in connection with the scheme.  Claims Aggregator for Investment […]

UCB Financial and Lina Maria Garcia Charged In Cherry Picking Scheme

library-court-books-justice-code-law-judge-lawyer-lawsuit

The Securities and Exchange Commissioner (SEC) has charged another investment advisor in connection with a cherry-picking scheme.  Lina Maria Garcia (CRD#: 4447599), a broker and financial investment advisor formerly with Insigneo Securities and UCB Financial Advisers, has been charged for her alleged role in the scheme.  A cherry-picking fraud scheme entails investment managers allocating profitable and […]

SEC Charges TCFG Investment Advisors with Making False Statements to Investors

nominated

The Securities and Exchange Commission recently filed a complaint against TCFG Investment Advisor, TCFG Wealth Management and Richard James Roberts. Here are some facts according to the complaint: From June 2014 through April 2020 is the relevant time period in the Complaint. The complaint alleges that Roberts mislead clients about the fees and mark-ups that […]

SEC Files Complaint Against RAM Fund and Carter Bain Wealth

ledgers-of-account

The SEC recently filed a complaint against RAM Fund, Carter Bain Wealth and Martin Ruiz. Here is a summary of the allegations: Ruiz induced investors to invest $10.6 million in RAM Fund based on promises that it would be used to acquire real estate. RAM did not use investor funds to purchase real estate. Instead, […]