Corporate & Securities Law

Eccleston Law Launches Investigation of New York Investment Firms Following SEC Fraud Charges

Posted on January 20, 2011
The attorneys at Eccleston Law have launched an investigation into three affiliated New-York based investment firms and some of their officers following SEC charges of fraud and misuse of client assets involving their $66 million client advisory business...

Eccleston Law Investigates Sunrise Equities For Defrauding Hundreds of Chicago Investors in a $43 Million Ponzi Scheme and Affinity Fraud

Posted on January 19, 2011
The attorneys at Eccleston Law are investigating Salman Ibrahim, Mohammad Akbar Zahid, Amjed Mahmood, and Sunrise Equities, Inc., for operating a $43 million Ponzi scheme that defrauded hundreds of victims and several banks in the greater Chicago area...

Eccleston Law Issues Investor Alert Following Misappropriation of Investor Funds by Former Hedge Fund Manager Aaron Riddle

Posted on January 18, 2011
The attorneys at Eccleston Law are investigating Aaron Riddle, the founding member and CFO of Jardis Capital, Inc. based in New York, for misappropriating investor assets in two hedge funds, the Logos Multi-strategy Hedge Fund I, LP and the Donum...

Eccleston Law Investigates $6.4 Million Ponzi Scheme in Chicago

Posted on January 17, 2011
Eccleston Law has launched an investigation into a $6.4 million Ponzi scheme operated by Downers Grove man David Hernandez. Hernandez recently plead guilty to one count of fraud and was sentenced to serve more than 16 years in prison for...

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Charles Schwab Pays More Than $118 Million to Settle SEC Charges Related to YieldPlus Fund; Fair Fund Sought by SEC

Posted on January 14, 2011
The SEC recently announced that it had settled with Charles Schwab Investment Management and Charles Schwab & Co., Inc. with making misleading statements regarding the Charles Schwab YieldPlus Fund and for failing to establish proper policies to prevent the misuse...

Eccleston Law Investigates Warren Nadel and Investment Firms for Generating $8 Million in Illicit Fees

Posted on January 13, 2011
The attorneys at Eccleston Law have launched an investigation into Long Island-based money manager Warren D. Nadel for orchestrating a fraudulent investment program through his two investment firms, Warren D. Nadel & Co. (a broker-dealer) and Regis­tered Investment Advisers, LLC...

SEC Charges Raymond Morris and his Utah Companies with Orchestrating $60 Million Ponzi Scheme

Posted on January 12, 2011
Eccleston Law has learned that the SEC has recently charged Raymond Morris, James Haley, Jay Linford, attorney Luc Nguyen, E&R Holdings, LLC, Wise Financial Holdings, LLC, Momentum Leasing, LLC, Cornerstone Capital Fund, LLC, Vantage Point Capital, LLC, and Freedom Group,...

Reverse Convertibles Carry Significant Risks

Posted on January 11, 2011
In recent years brokerage firms and banks have sold more than $6 billion of a complex investment vehicle known as a reverse convertible. Due to their complexity and questionable performance, retail investors are cautioned to carefully evaluate the risks of...

Eccleston Law Investigates Fraudulent Offering Scheme in Utah

Posted on January 10, 2011
The attorneys at Eccleston Law are investigating Ralph W. Thompson, Jr., Duane C. Johnson, Robert Casey Hall along with Novus Technologies, LLC and RCH2, LLC for an offering fraud involving the sale of short term promissory notes and joint venture...

ECCLESTON LAW LAUNCHES INVESTIGATION INTO SJK INVESTMENT MANAGEMENT AND STANLEY KOWALEWSKI FOLLOWING ALLEGATIONS OF FRAUD AND SELF DEALING

Posted on January 07, 2011
Eccleston Law has launched an investigation into Stanely J. Kowalewski and his North Carolina based investment advisory firm, SJK Investment Management, LLC, following allegations that the registered investment adviser has defrauded investors in two funds managed by SJK Investment Management...

JP Morgan Sued for $300 Million By Court Appointed Receiver Over Ponzi Scheme Funds

Posted on January 07, 2011
A court-appointed receiver who has been charged with recovering funds for victims of the Ponzi scheme operated by Minnesota businessman Tom Petters recently sued JP Morgan Chase & Co. for more than $300 million. The receiver has alleged that the....

Beware of Affinity Fraud

Posted on January 06, 2011
There has been an unprecedented number of investment frauds and Ponzi schemes recently, leaving thousands of victims in their wake. In many of these cases, the investors fell victim to a type of fraud known as affinity fraud. Affinity fraud...

Eccleston Law Investigates Milowe Allen Brost for Operating a $300 Million Ponzi Scheme

Posted on January 05, 2011
The attorneys at Eccleston Law are investigating Milowe Allen Brost (aka Milo Brost) for operating a $300 million Ponzi scheme with over 3,000 investors under the guise of various companies controlled by Brost including Capital Alternatives Inc. and Institute For...

Eccleston Law Continuing Its Investigation Into The Provident Royalties Fraud And Brokerage Firms That Sold Those Securities

Posted on January 04, 2011
The attorneys at Eccleston Law are continuing their investigation into Provident Royalties, LLC following the SEC allegation of a $485 million offering fraud and Ponzi scheme orchestrated by three Dallas businessmen through Provident Royalties. The SEC alleges that from at...

JOSHUA B. KONS JOINS ECCLESTON LAW

Posted on January 04, 2011
ECCLESTON LAW OFFICES IS PLEASED TO ANNOUNCE THE ADDITION OF JOSHUA B. KONS TO ITS OFFICES Joshua B. Kons has a breadth of experience in corporate and securities law, counseling clients in both transactional and litigation matters. Mr. Kons also...

Eccleston Law Investigates Aircraft Leasing Company for Securities Fraud

Posted on January 03, 2011
? Eccleston Law has launched an investigation into Hyatt Johnson Capital, LLC and BCI Aircraft Leasing, Inc. in connection with a fraudulent aircraft leasing scheme. Eccleston Law is also seeking information on Jason R. Hyatt, Jay Johnson, Brian Hollnagel, Martin...

Investors Should Beware of Life Settlement Investments

Posted on December 30, 2010
While the life insurance settlement industry is booming, it may be at the expense of investors not knowing what exactly they are purchasing. Life insurance settlement transactions are unusual investments, typically only suitable for high net worth investors who can...

ECCLESTON LAW ISSUES INVESTOR ALERT FOR CARR MILLER CAPITAL FOR AN ALLEGED $40 MILLION PONZI SCHEME TO DEFRAUD INVESTORS

Posted on December 29, 2010
The attorneys at Eccleston Law have launched an investigation of New Jersey based investment advisory firm Carr Miller Capital for allegedly operating a $40 million Ponzi scheme. Also under investigation are Everett Charles Ford Miller, Ryan J. Carr, and Brian...

Increasing Risk in Municipal Bond Market Worries Investors

Posted on December 28, 2010
Municipal bonds, long viewed as a safe and predicable investment, are beginning to worry a growing number of analysts, financial planners and investors amid doubts about the ability of state and local governments to pay their obligations. Municipal bonds (also...

New Hires Faced With Golden Handcuffs from Major Firms

Posted on December 28, 2010
Broker recruiting has become fiercely competitive, and firms have resorted to novel strategies to attract and retain new recruits. While signing bonuses are at unprecedented levels, they come with a price for advisers as major wirehouse firms now are attempting...

ECCLESTON LAW LAUNCHES INVESTIGATION OF ILLINOIS RESIDENT DANIEL SPITZER AND HIS NETWORK OF ENTITIES FOR OPERATING A $105 MILLION PONZI SCHEME

Posted on December 28, 2010
The SEC announced securities fraud charges and obtained an emergency asset freeze against Daniel Spitzer, a purported fund manager residing in North Barrington, Illinois, for operating an alleged $105 million Ponzi scheme impacting over 400 investors...

SEC CHARGES ATTORNEY WITH AIDING IN MULTI-MILLION DOLLAR FRAUD

Posted on December 24, 2010
The SEC recently charged Jonathan Star Bristol, an attorney for former financial advisor Kenneth Ira Starr, with aiding and abetting in the multi-million dollar Ponzi scheme perpetrated by Starr. The SEC alleged that Bristol allowed Starr to funnel more than...

Eccleston Law Investigates American Pegasus for Fraudulent Misuse of Fund Assets

Posted on December 23, 2010
Eccleston Law investigates two San Francisco investment adviser firms, American Pegasus LDG and American Pegasus Investment Management, for defrauding investors in the American Pegasus Auto Loan Fund, which is a $100 million hedge fund that invested in subprime automobile loans...

Investors And Their Advisers Must Beware Of "Garden Leave Provisions" That Interfere With Servicing Accounts

Posted on December 22, 2010
What happens when a financial adviser submits his job resignation but then informs his customers that he nonetheless will be sitting at home for the next 90 days? Not much by the way of servicing customers, if that adviser?s ?garden...

Eccleston Law Reminds Investors in Schwab YieldPlus Fund of January 14, 2011 Class Action Opt-Out Deadline

Posted on December 21, 2010
Investors in the Schwab YieldPlus who are currently class members of the pending case In Re Schwab Corp. Securities Litigation, Case No. 08-cv-01510 WHA, should be aware that the United States District Court has recently approved an amended settlement agreement...

FINRA Investor Education Foundation Releases Study on Financial Literacy

Posted on December 20, 2010
This month, the FINRA Investor Education Foundation launched a website that releases the results of a study of the financial capability of investors on a state-by-state basis. The study, which polled over 28,000 investors from each state in 2009, was...

Eccleston Law Investigates Hedge Fund Manager Arthur Nadel and his Feeder Funds for Securities Fraud

Posted on December 17, 2010
Arthur Nadel (?Nadel?), the former Florida hedge fund manager, is being investigated by Eccleston Law for bilking investors out of more than $160 million. Nadel managed the following companies and funds that he used to defraud investors: SCOOP CAPITAL, LLC,...

Broker-Dealers Face Claw-Back Lawsuits for Selling DBSI TIC Investments

Posted on December 16, 2010
Following its 2008 bankruptcy filing, DBSI, Inc., the failed tenant-in-common (?TIC?) creator and distributor, is now considered to have been a massive Ponzi scheme defrauding investors out of nearly $600 million. The bankruptcy trustee appointed by the court, James Zazzali,...

Eccleston Law Investigates American Benefit Concepts, Inc. for Deceptive Sales Practices in Connection with Sales of Diversified Liquid Asset Holdings, LLC and Other Investments

Posted on December 16, 2010
Eccleston Law has launched an investigation into American Benefit Concepts, Inc., an insurance company located in Portage, Michigan, in connection with the sales of various unregistered securities, including investments in Diversified Lending Group, Diversified Global Finance and Diversified Liquid Asset...

Eccleston Law Launches Investigation into Wachovia Broker Team, Harrison/Sawyers Financial Services

Posted on December 16, 2010
On December 15, 2010, the SEC announced a civil injunction action against William K. Harrison (?Harrison?) and Eddie W. Sawyers (?Sawyers?) of Charlotte, North Carolina. Harrison and Sawyers were registered representatives of Wachovia, and did business as Harrison/Sawyers Financial Services...

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