Maxwell B. Smith, a financial advisor from New Jersey, was sentenced to seven years in prison for operating a $9 million Ponzi Scheme. Many clients lost their investments in Health Care Financial Partners. Smith sold investments as a fund that made loans to nursing homes.
Smith began soliciting investors in the Ponzi Scheme as early as 1992. Smith allegedly created a phony prospectus and promises of returns at 7.5% to 9%. These bonds were bought in amounts ranging from $25,000 to $300,000.
Smith had previously plead guilty to several counts of mail fraud as well as money laundering.
Maxwell Smith was previously registered with FINRA at the following brokerage firms according to FINRA's BrokerCheck:
CANTONE RESEARCH INC.
CRD# 26314
TINTON FALLS, NJ
01/2005 - 04/2009
PNC INVESTMENTS
CRD# 129052
PITTSBURGH, PA
01/2004 - 01/2005
J.J.B. HILLIARD, W.L. LYONS, INC.
CRD# 453
LOUISVILLE, KY
12/1999 - 01/2004
If you feel you may have a claim against former broker Maxwell B. Smith, call 888-760-6552.
Securities Lawyer, Lars K. Soreide, of Soreide Law Group, represents clients nationwide before FINRA. If you or a loved one have sustained investment losses due to your stock broker or financial advisor’s recommendations, call for a free consultation on how to potentially recover your losses.
CLIFFORD RONALD REID (CLIFFORD R REID) was previously registered with REID RUDIGER LLC of New York, NY from 10/06/1999 - 04/30/2026. According to FINRA’s BrokerCheck, available to the public on FINRA’s website, CLIFFORD R REID has 34 years of experience in the securities industry and was listed as a broker with 4 firms. Reid is […]
Investors might have sustained losses due to securities broker Elizabeth Florence Ortiz (also known as Elizabeth Barber, Betsy Barber, and Betsy Ortiz) [CRD: 6818113, Austin, Texas], based on public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Ortiz has worked for Charles Schwab Co. Inc. from December 11, 2017, to the present. Read on to […]
Investors potentially incurred losses because of securities broker James Anthony Medsker (also known as Jim Medsker) [CRD: 1294250, Dublin, Ohio], given the disclosures located on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Medsker worked for Wells Fargo Clearing Services LLC from October 26, 2018, to January 25, 2024. Investors are encouraged to continue reading to learn […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com