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Investor Rights Blog

The Law Firm of David Chase is reviewing customer allegations of unsuitability and wrongdoing involving REITs and other illiquid investments made against Greenville, South Carolina based broker James Flynn, who was formerly with the securities brokerage firms of Voya Financial Advisors and IFS Securities. According to FINRA’s BrokerCheck report on Flynn, eight customers made complaints against Mr. Flynn alleging, among other claims, unsuitability and overconcentration involving Real Estate Investment Trust investments and annuities. FINRA, the...
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The Law Firm of David R. Chase and Silver Law Group recently filed a FINRA arbitration claim against Independent Financial Group, a securities firm, after its broker improperly recommended the services of an individual who the SEC claims was engaged in a Ponzi scheme. The statement of claim alleges the Claimant was the client of Independent Financial Group and its broker, Jon Pariser (CRD# 2755015).  In or around June 2017, Pariser informed Claimant that he...
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The Securities and Exchange Commission filed civil charges yesterday against 1 Global Capital LLC and its former CEO alleging they defrauded approximately 3,400 retail investors, a number of whom invested their retirement monies.  Global Capital, which was engaged in the cash advance business, and Carl Ruderman, its former CEO, are alleged by the SEC to have raised in excess of $287 million through fraudulent means since 2014, utilizing a web of barred brokers who sold unregistered securities. Per...
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Did You Invest in 1st Global Capital Through a Stockbroker or Financial Advisor and Have Concerns About Your Investment? 1st Global Capital filed for Chapter 11 Bankruptcy after the Securities and Exchange Commission (SEC) launched an investigation into the possible: (1) sale of unregistered securities, (2) sales of securities by unregistered brokers, and (3) fraud in connection with the sales of securities. Several state attorney generals are reportedly also investigating. News of these investigations has apparently...
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The securities law firm of David R. Chase, http://www.davidchaselaw.com, is investigating potential arbitration claims against brokerage firms for their offer and sale of American Finance Trust, Inc. (Nasdaq symbol AFIN), a non-traded REIT, which has lost almost half of its value from its initial sales price of $25.00 a share. Non-traded REITs are typically marketed and sold by independent broker-dealers to retail customers, and are one of the highest commission generating financial products for brokerage...
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The Securities and Exchange Commission (SEC) earlier this week filed an emergency enforcement action in federal court seeking to shut down an alleged ongoing fraudulent scheme run by a handful of investment advisors, including Perry Santillo, Christopher Parris, Paul Anthony Larocco, John Piccarreto and Thomas Brenner. The SEC alleges that these individuals were involved in an ongoing fraudulent scheme in which more than $102 million was raised from approximately 637 investors from around the nation since 2011....
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This week the United States Securities and Exchange Commission sought and obtained asset freezes against five investment advisers for allegedly defrauding approximately 637 investors over the course of years in a $102 million Ponzi scheme. The SEC filed an enforcement action against Perry Santillo of Rochester, New York, Christopher Parris also of Rochester, Paul LaRocco of Ocala, Florida, John Piccarreto of San Antonio, and Thomas Brenner of Orville, Ohio, promissory note issuer First Nationle Solution LLC, lender Percipience Global Corp. and medical financier United RL Capital Services....
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