Once again there is news of a Ponzi scheme that has allegedly defrauded several investors. This time the alleged defrauder is a well-known businessman and law school graduate named Craig Berkman. Berkman has been charged by U.S. Attorney’s office and by the Securities and Exchange Commission (SEC) with allegedly devising a Ponzi scheme and defrauding investors. What [...]
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S.E.C. Accuses Illinois Of Securities Fraud
The Securities and Exchange Commission has accused the state of Illinois of securities fraud. According to NyTimes, it is the “second time in history that federal regulators have accused an American state of securities fraud.” The reason for the accusations: Illinois apparently misled investors about the condition of its public pension system from 2005 to [...]
Unintended Consequences of JOBS Act
I have previously written about the Jumpstart Our Business Startups (JOBS) Act, where I discussed the potential benefits of relaxing the stringent SEC reporting requirements. In passing the Act Congress hoped to create an opportunity for companies to secure financing in more creative ways, and that by creating these new businesses, JOBS would create jobs. Interesting [...]
Securities Fraud Victims, Know Your Rights!
It can be devastating to see a stock that you invested in crash. This is especially so when the abrupt fall is not due to fluctuations in the market but rather because of fraud. If important information was withheld from you or if someone lied to you about anything that might affect the stock’s value [...]
Hot Topics: Stock Broker Fraud
Stock Broker Fraud: What is it? Stock broker fraud, also referred to as investment fraud, happens when a financial professional, such as an advisor, stock broker, or brokerage firm offers the investor information that is misleading due to inaccuracy, incompleteness or bias, which is designed to benefit the person or entity offering the advice. This [...]
