On October 4, 2011, the Financial Industry Regulatory Authority Inc. or FINRA,  issued an alert to investors that outlines the nontraded real estate investment trusts (REITs) features and potential drawbacks, such as high fees and a lack of liquidity. As the name suggests, nontraded REITs aren't listed on a national exchange writes Bruce Kelly for InvestmentNews.com. “Turbulence in […]

The following press release was from the State of Colorado regarding a settlement with E*Trade over the firm's auction rate securities issues. Colorado Securities Commissioner Announces Settlement of its Auction Rate Securities Enforcement Action against E*TRADE The Colorado Securities Commissioner Fred Joseph announced today that a settlement in principle has been reached between E*TRADE Securities, […]

If you invested in IMH Secured Loan Fund, LLC, then you may have the right to recover money from the brokerage firm responsible for supervising your sales agent/broker.  You must act quickly due to the statutes of limitation. Soreide Law Group, PLLC, wants you to know that you may be able to recover losses that you have […]

In an article from the New York Times, October 18th., 2011, John Wasik writes that if you’re concerned about whether an adviser’s parent firm is going to survive a crisis or if you’re not happy with your portfolio, there are some important questions to ask before you make a change to a new wealth manager. […]

David Angelo Maltese (CRD #2562471, Registered Representative, Boca Raton, Florida)   submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity.   The article states that without admitting or denying the findings, Maltese consented to the described sanction and to the entry of […]

It was announced that a federal court decision in Pennsylvania has given a win for life settlement investors, deflating carriers' argument that it is permissible for an insured person to apply for a life settlement with the express intent to sell it to a third party, writes Darla Mercado in an InvestmenNews.com article from October 12, 2011. […]

  The following appeared on FINRA's website in the 'Disciplinary Actions.' Brookstone Securities, Inc. (CRD #13366, Lakeland, Florida) and David William Locy (CRD #4682865, Registered Principal, Overland Park, Kansas) the firm and Locy were censured and fined $25,000, jointly and severally. Without admitting or denying the findings, the firm and Locy consented to the described sanctions […]

Two men from Houston, Texas, have been sentenced to spend more than 45 years in prison for their role in a massive life settlements fraud scheme writes Darla Mercado in an October 7, 2011, article in InvestmentNews.com. Christian Allmendinger, the co-founder and vice president of A&O Resource Management Ltd., and Adley H. Abdulwahab, a hedge fund […]

  Gary Harrison Lane has been accused of improprieties in his client's accounts. These accusations relate to the sale of government debt and or notes. Our investigation revealed that Gary Lane may have been involved in the sale of what could ultimately prove to be a ponzi scheme.   If the investigation later proves that Gary […]