On December 3rd., 2013, two brokers, Fernando L. Arevalo and Jimmy E. Caballero, were barred by the Financial Industry Regulatory Authority (FINRA), for taking $300,000 from an elderly widow with diminished mental capacity, and they did not cooperate with FINRA's investigation. They were employed as brokers with JPMorgan Chase Securities, LLC. JPMorgan not a party […]

On December 5th., 2013, the Financial Industry Regulatory Authority (FINRA) ordered Atlanta-based broker-dealer J.P. Turner & Company, L.L.C. to pay $707,559 in restitution to 84 customers for sales of unsuitable leveraged and inverse exchange-traded funds (ETFs) and for excessive mutual fund switches. Investors should be made aware by their brokers that they could possibly suffer […]

On December 5th., 2013, the Financial Industry Regulatory Authority (FINRA) ordered Atlanta-based broker-dealer J.P. Turner & Company, L.L.C. to pay $707,559 in restitution to 84 customers for sales of unsuitable leveraged and inverse exchange-traded funds (ETFs) and for excessive mutual fund switches. Investors should be made aware by their brokers that they could possibly suffer […]

Soreide Law Group is currently investigating the following funds on behalf of clients: MM Community Funding II and III, South Coast Funding Ltd. II, and Fort Point CDO I, Ltd. Some of these funds were sold by Citigroup and/or Morgan Stanley. MM Community III is a collateralized debt obligation(CDO), which closed April 10, 2002. MM […]

Soreide Law Group is currently investigating the following funds on behalf of clients: MM Community Funding II and III, South Coast Funding Ltd. II, and Fort Point CDO I, Ltd. Some of these funds were sold by Citigroup and/or Morgan Stanley. MM Community III is a collateralized debt obligation(CDO), which closed April 10, 2002. MM […]

Three arbitrations have been filed by Soreide Law Group on behalf of seven clients, against Jason Figueroa of the GMS Group. These clients live in Pennsylvania, Aventura, Florida, and Delray Beach, Florida. Mr. Figueroa works out of the Boca Raton, Florida office of the GMS Group. The lawsuits, all filed with the Financial Industry Regulatory […]

Three arbitrations have been filed by Soreide Law Group on behalf of seven clients, against Jason Figueroa of the GMS Group. These clients live in Pennsylvania, Aventura, Florida, and Delray Beach, Florida. Mr. Figueroa works out of the Boca Raton, Florida office of the GMS Group. The lawsuits, all filed with the Financial Industry Regulatory […]

The Florida Office of Financial Regulation is investigating allegations that several companies and individuals sold CDs to investors, primarily elderly, by falsely claiming the CDs were insured by the Federal Deposit Insurance Corp.(FDIC). A Brevard County Circuit Court issued an injunction on Nov. 27th. against First Merchant Capital LLC, Capstar Industries LLC, Southeast Mutual Insurance […]

Joseph Lombardo, the 72-year-old founder of Ohio-based Prim Capital Corporation, has pleaded guilty in Manhattan Federal Court, on November 14th., to mail fraud and conspiracy to obstruct justice. Joseph Lombardo faces a possible 20 year sentence in prison. He is scheduled for sentencing March 20th. It was alleged that Lombardo used a stamp to forge […]