West & Associates, LLC is a new law firm founded by James H. West, a former partner at West, Edwards & Associates, LLC. The firm provides practical, zealous legal representation with a strong commitment to client service. Drawing on extensive experience in private practice, West & Associates delivers thoughtful, effective legal solutions tailored to each…
There is a battle going on right now in Congress that will affect stockbroker fraud cases in the years to come. Here are some updates and stories from various news sources to get you up-to-speed quickly. Department of Labor Proposes Rule to Address Conflicts of Interest in Retirement Advice, Saving Middle-Class Families Billions of Dollars Every…
FINRA recently censured LPL Financial LLC and fined it $10 million for broad supervisory failures in a number of key areas, including the sales of non-traditional exchange-traded funds (ETFs), certain variable annuity contracts, non-traded real estate investment trusts (REITs) and other complex products as well as its failure to monitor and report trades and deliver…
Garfield M. Taylor of Rockville, Maryland was recently sentenced to 13 years in prison for operating a Ponzi scheme that cost investors more than $28 Million in losses. Taylor convinced investors to invest with him by promising them substantial returns on their investments, telling them that he used a sophisticated securities trading strategy that protected…
A true financial professional wants you to be comfortable and invest in what is best for you in your time. A scam artist wants you to invest in what is best for him or her as quickly as possible. Any pressure to invest immediately because the golden opportunity will be gone in a flash is a…
In Florida, the Sun Sentinel reported that Richard Ohrn, 44, a former stock broker who disappeared while fishing in the Atlantic ocean a month ago, admitted that he staged his disappearance by abandoning the boat and driving to Albany, Georgia. According to the article Ohrn was trying to escape legal issues, including a suit by a former…
In releasing a report on the National Senior Investor Initiative, the SEC and FINRA have reaffirmed the paramount importance of protecting senior investors. Andrew J. Bowden, OCIE’s Director, said, “Seniors are more dependent than ever on their own investments for retirement. Broker-dealers are developing and offering a variety of new products and services that are…
Former NFL Cornerback Will Allen and a business associate have been accused of running a $32 Million Ponzi Scheme thru a company that provided loans to professional athletes according to a complaint filed by the SEC. If you would like more details, please click here. If you believe you may have been a victim of a Ponzi scheme…
On March 25, 2015, Ronald M. Berman, formerly of Axiom Capital Management, Inc., withdrew his registration with the State of Maryland and agreed not to reapply for registration in Maryland as a broker-dealer, agent, investment adviser or investment adviser representative for a period of five (5) years. Previously, Mr. Berman’s general securities representative registration was…