Yesterday, on this blog we wrote that The Financial Industry Regulatory Authority (FINRA) recently filed a cease-and-desist order against Success Trade Securities. It has now been reported that federal investigators are interested in speaking to multiple NFL and NBA players regarding an $18 million investment scheme.
The U.S. Department of Justice, the Federal Bureau of Investigation and the U.S. Securities and Exchange Commission are heading up the investigation saying that Jade Management had more than 30 athletes who purchased high interest investments. Allegedly, these investments are fraudulent.
According to the report, Jade Management previously managed finances for professional athletes and had investment ties to Success Trade Securities. Some of those investments purportedly promised interest returns between 11 and 26 percent.
If you have experienced a financial loss due to Success Trade Securities or Jade Management, call Soreide Law Group for a free consultation with an attorney on how to potentially recovery your investment at: 888-760-6552.
Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Baris Cabalar (also known as Barry Calabar) [CRD: 4749342, Fort Lauderdale, Florida]. Baris Cabalar has worked for five firms in his 17-year career. Evidently, he is employed at PHX Financial, Inc. since December 18, 2015. Recent disclosures reveal concerns about Cabalar’s conduct, including allegations […]
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