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.
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An SEC decision involving Titan Securities (CRD 131392) of Plano, Texas became final on August 7, 2026, according to FINRA's October 2026 Disciplinary and Other FINRA Actions report. The decision fined the firm $50,000. The record lists the firm as JTA Securities Management, Inc. dba Titan Securities.
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