Corporate & Securities Law

Congratulations To Joshua Kons For Passing The Illinois Bar!

Posted on April 01, 2011
Congratulations to our newest associate Joshua Kons who recently passed the Illinois Bar Exam. He's met his certification requirements as well. The Illinois Bar admission ceremony is expected to be this May at which time Josh will become a member...

Eccleston Law Actively Seeks Investors Suffering Losses In Publicly Traded Chinese Companies

Posted on April 01, 2011
Following a recent, wide-spread probe by the SEC?s enforcement and corporate finance divisions, the attorneys at Eccleston Law are investigating various Chinese companies that are publicly traded on U.S stock exchanges. Our attorneys are actively seeking to speak with investors...

SEC Expands Probe of Reverse Convertibles

Posted on March 31, 2011
The Wall Street Journal recently reported that the SEC is expanding their probe of Wall Street firms who developed and sold reverse convertibles for failing to adequately disclose the risks, fees and potential conflicts of interests to retail investors who...

SEC Charges Florida Residents with Operating $30 Million Ponzi Scheme

Posted on March 31, 2011
The SEC recently charged two South Florida residents with operating a $30 million Ponzi scheme related to a purported foreign currency trading operation. From at least 2005 through 2007, James Clements and Zeina Smidi of Plantation, Florida, solicited investors to...

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Eccleston Law Actively Seeking Clients of Robert M. Jaffe or Cohmad Securities in Connection with Madoff Losses

Posted on March 30, 2011
The attorneys at Eccleston Law have launched an investigation of former financial adviser Robert M. Jaffe or Cohmad Securities Corporation for allegedly steering investors into the Bernard Madoff Ponzi scheme. Our attorneys are actively seeking to speak with investors who...

Eccleston Law Launches Investigation of John Scott Clark and Impact Cash, LLC For Operating $47 Million Ponzi Scheme

Posted on March 30, 2011
The attorneys at Eccleston Law have launched an investigation of John Scott Clark and his companies, Impact Cash, LLC and Impact Payment Systems, LLC for allegedly committing offering fraud and operating a $47 million Ponzi scheme. According to a recent...

Ponzi Scheme ?Clawback? Litigation Targets Victims of Kevin G. Carney Fraud

Posted on March 29, 2011
Occasionally, victims of Ponzi schemes may find themselves defending against actions by receivers, trustees, or SIPC representatives bringing ?clawback? actions to recover money that they might have received from the fraud. Clawback lawsuits typically target those investors in a Ponzi...

Eccleston Law Investigates Daniel Sholom Frishberg Following SEC Charges

Posted on March 29, 2011
Eccleston Law has recently launched an investigation of Houston businessman Daniel Sholom Frishberg, who is the principal of Daniel Frishberg Financial Services, an investment advisory firm that is registered with the SEC. The investigation follows a lawsuit recently filed by...

Texas Businessman Convicted in $100 Million Life Insurance Fraud Scheme

Posted on March 28, 2011
Christian Allmendinger was recently convicted of federal securities fraud charges for his role in operating a $100 million life insurance fraud scheme that victimized over 800 investors in 37 states. Allmendinger was a principal of A&O Resource Management, Ltd...

SEC Charges Three Ohio-Based Executives with Operating $230 Million Investment Scheme

Posted on March 25, 2011
The SEC recently filed a civil action charging three senior executives at Akron, Ohio-based Fair Finance Company with orchestrating a $230 million scheme involving over 5,000 investors. From 2005 through 2009, it is believed that Fair Finance Company's CEO Timothy...

Eccleston Law Launches Investigation of the Nutmeg Group, LLC for Allegedly Misappropriating Over $4 Million in Fund Assets

Posted on March 24, 2011
The attorneys at Eccleston Law have launched an investigation of the Northbrook, Illinois-based Nutmeg Group, LLC relating to its alleged misappropriation of over $4 million in investor funds, along with what is believed to have been an improper comingling of...

Eccleston Law Investigates Innovative Advisory Services, Inc. and Richard H. Nickles for Allegedly Operating $10 Million Ponzi Scheme

Posted on March 23, 2011
The attorneys at Eccleston Law have launched an investigation into Santa Ana, California investment advisory firm Innovative Advisory Services, Inc. and its owner, Richard H. Nickles, of operating what is believed to hace been a $10 million Ponzi scheme...

Eccleston Law Investigating Timothy Roth For Allegedly Stealing $6 Million From Customer Accounts

Posted on March 22, 2011
The attorneys at Eccleston law have launched an investigation of Timothy J. Roth of Urbana, Illinois for allegedly stealing as much as $6 million from customer?s accounts. The attorneys at Eccleston Law believe that from October 2010 through February 2011,...

Eccleston Law Launches Investigation of Secured Notes Issued by Odyssey Properties III, LLC

Posted on March 21, 2011
The attorneys at Eccleston Law have launched an investigation of the potential claims by investors who purchased secured notes issued by Odyssey Properties, III, LLC or any of their affiliated entities, which include the following: Odyssey Residential, LLC Odyssey Residential...

UPDATE: Eccleston Law Expands Investigation of David Lerner Associates for Sales of Apple REITs and CMOs

Posted on March 18, 2011
The attorneys at Eccleston Law have expanded their investigation of Syosset, New York based broker-dealer David Lerner Associates, Inc. for the sales of Apple REITs and CMOs to investors in, among other places, New York and Florida. The firm has...

Frauds Uncovered Recently Show Illinois Investors Hard Hit

Posted on March 16, 2011
Every day regulators (and criminal authorities) uncover another Ponzi scheme. The frauds have left their mark on countless numbers of investors, especially in Illinois. The good news is that the regulators have uncovered the frauds. Prospective victims won't be conned,...

Maryland Man Accused of Operating $9.2 Million Ponzi Scheme

Posted on March 15, 2011
Larry Michael Parrish of Walkersville, Maryland was recently accused by the SEC of operating a $9.2 million Ponzi scheme that victimized at least 70 investors in three states. The SEC believes that from November 2005 through October 2009, Parrish and...

Morgan Stanley Smith Barney Cuts 300 Advisers

Posted on March 14, 2011
Morgan Stanley Smith Barney, the largest brokerage firm in the industry, recently cut 300 of its trainees and low producing advisers in an effort to improve the overall productivity of its sales force. The general guidelines for the advisers that...

Eccleston Law Actively Seeking Investors Who Suffered Losses with Jason Bo-Alan Beckman of Plymouth, MN for his Role in a $194 Million Currency Trading Scheme

Posted on March 09, 2011
The attorneys at Eccleston Law are investigating Jason ?Bo-Alan? Beckman (aka ?Bo Beckman?) of Plymouth, Minnesota for his role in raising over $47 million from at least 143 investors who invested in the $194 Ponzi scheme perpetrated by Trevor Cook...

Florida Insurance Agent Steven B. Rodd Indicated on Fraud Charges

Posted on March 09, 2011
Last week, the U.S. Attorney?s Office unsealed an indictment charging a Tampa, Florida insurance agent Steven B. Rodd with fraud charges and the possible disgorgement of more than $900,000 in commissions that he illegally collected from the sale of $32...

Proposed SEC Rule Will Not Restrict Up-Front Bonuses For Advisers

Posted on March 08, 2011
The SEC?s effort to restrict incentive compensation structures used by both broker-dealers and investment advisers is not likely to extend to up-front bonuses used in adviser recruiting. The SEC recently voted in favor of issuing a proposed rule that would...

Eccleston Law Actively Seeking Investors Who Suffered Losses in SBM Investment Certificates

Posted on March 08, 2011
The SEC recently filed an emergency enforcement action against SBM Investment Certificates, Inc. f/k/a 1st Atlantic Guaranty Corporation, SBM Certificate Company, Geneva Capital Partners, LLC and Eric M. Westbury to stop them from engaging in activities that violate Federal securities...

Eccleston Law Investigates Dante DeMiro For Allegedly Operating $10 Million Ponzi Scheme

Posted on March 07, 2011
The attorneys at Eccleston Law have launched an investigation into Dante DeMiro of Milford, Michigan for his role in allegedly orchestrating a $10 million Ponzi scheme. DeMiro is currently facing felony fraud charges which carry a sentence of 30 years...

UPDATE: Eccleston Law Expands Investigation of Connecticut Hedge Fund Manager Accused of Fraudulent Misuse of Investor Assets

Posted on March 07, 2011
Francisco Illarramendi has recently pled guilty to his role running a Ponzi scheme that may have defrauded investors out of hundreds of millions of dollars, according to prosecuters. As a result, the attorneys at Eccleston Law have expanded their investigation...

Workman Securities Corp. Pays $700,000 to Settle Private Placement Lawsuits

Posted on March 04, 2011
Workman Securities, a broker-dealer that was a prominent seller of certain high-risk private placements such as Medical Capital Holdings, Inc. and Provident Royalties, LLC, has recently reached an agreement to settle its remaining securities arbitration claims for $700,000...

UPDATE: Financial Adviser Kenneth Starr Sentenced to 7 Years Prison for Operating $50 Million Ponzi Scheme

Posted on March 04, 2011
Financial adviser to the stars Kenneth Starr, who in September 2010 pled guilty to operating a $50 million Ponzi scheme, was recently sentenced to serve 7 years in prison. Starr was a high profile investment adviser to high net worth...

Eccleston Law Investigates New York Brokerage Firm David Lerner Associates for Sales of Apple REITs and CMOs

Posted on March 03, 2011
The attorneys at Eccleston Law have launched an investigation of Syosset, New York based broker-dealer David Lerner Associates, Inc. for the sales of Apple REITs and CMOs to investors in, among other places, New York and Florida. David Lerner, who...

Eccleston Law Actively Seeking Victims Of The Steven T. Kobayashi Fraud Involving Life Settlement Partners, LLC

Posted on March 03, 2011
The attorneys at Eccleston Law are actively seeking victims of the fraud perpetuated by former UBS Financial Services, LLC adviser Steven T. Kobayashi, who is a resident of Livermore, California. Those with information about this fraud are also encouraged to...

Eccleston Law Launches Investigation of North Carolina Man Who Pled Guilty to Operating $80 Ponzi Scheme

Posted on March 02, 2011
The attorneys at Eccleston Law have launched an investigation into Vance Moore II of Raleigh, North Carolina, who recently pled guilty in Federal court to nine counts of wire fraud and one count of conspiracy to commit wire fraud for...

Eccleston Law Investigates Triton Financial and Kurt B. Barton For Conducting Fraudulent Securities Offering

Posted on March 01, 2011
Eccleston Law has launched an investigation into Kurt B. Barton, Triton Financial, LLC and Triton Acquisition, LP d/b/a Triton Insurance, LP, for allegedly raising over $8.4 million from 90 investors in a fraudulent offering Triton Financial is a company headquartered...

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