From the Stockbroker Fraud Blawg
On June 11, 2009, the Securities and Exchange Commission filed two fraud actions against different financial/investment advisers.
Morgan European Holdings ApS, et al.
On June 11, the SEC obtained an emergency court order and asset freeze to shut down a fraudulent prime bank scheme. The action was filed in the United States District Court for the Middle District of Flordia against Morgan European Holdings ApS, a/k/a Money Talks, Inc. ApS, John Morgan, Marian Morgan, Bowman Marketing Group, Inc., …

From the Stockbroker Fraud Blawg
The New York Times published an informative article by Tara Siegel Bernard on December 16, 2008 that discusses a lot of the basics of mutual funds.
This is a great article for anyone who is unfamiliar with mutual funds, but who has or is considering incorporating mutual funds into their investment portfolio.
Too often, investors are misled as to key features of the investments they are sold. Having a fundamental understanding of how different investments work serves two …

From the Investment Fraud Blawg
I stumbled across an article written by Paul Sullivan that The New York Times published on January 26, 2009 that contained some useful information about estate planning.
Although the article is five months old, its content is no less important today than at the time the article was published. Unfortunately, too many people overlook the benefits of prudent (and often simple) estate planning. Many people feel that since issues tend to come up after they have died, …

From the Securities Arbitration Blawg
In a recent article published on Law.com, Sarah S. Gold and Richard L. Spinogatti conduct a thorough analysis of the issues in In re Merck & Co. Secs. Deriv. & ERISA Litig.., a Third Circuit Court of Appeals case. The Supreme Court granted certiorari in In re Merck to resolve when an investor is on inquiry notice of a potential fraud claim for purposes of determining when the statute of limitaions begins to run..
The authors note …

From the Stockbroker Fraud Blawg
It seems that each day there is another story about allegations that an investment adviser has stolen money from their clients. Yesterday, the SEC filed a complaint alleging that a New York investment adviser had bilked his clients, many of whom were terminally ill or mentally impaired, out of $6 million.
Where do you turn? The New York Times published an interesting article on June 5, 2009, discussing this issue. The Financial Industry Regulatory Authority has a …

From the Consumer Fraud Blawg
In a recent announcement, New York Attorney General Mario Cuomo stated that his office has issued subpoenas to fourteen loan modification companies and filed suit against another company.
During a news conference on June 9, it was reported that Mr. Cuomo referred to the entire loan modification industry as a scam. Mr. Cuomo has taken aggressive action against several industries in recent months, including the financial services industry.
Consumers often fall victim to businesses that use deceptive and …