Ponzi Scheme Bulletin
On July 24, 2026, Jay Lucas, the 71-year-old founder and managing partner of Lucas Brand Equity LLC, pleaded guilty in…
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Investors Still in the Dark over GWG Holdings “L” Bond Payments
In January 2022, GWG Holdings Inc., promoter of its high-yield bond product GWG L Bonds, reportedly missed $13.6 million in…
Read MorePonzi Scheme Bulletin
Recent developments in several high-profile, Ponzi scheme cases have renewed questions about the extent of the fallout from investment fraud…
Read MoreMERRILL LYNCH ORDERED TO REIMBURSE $7.2 MILLION IN MUTUAL FUND OVERCHARGES
FINRA recently announced that Merrill Lynch will pay $7.2 million in restitution to customers overcharged on mutual fund accounts. FINRA’s…
Read MoreUBS Facing Onslaught of Investor Claims Over “YES” Option Strategy
UBS Financial Services is reportedly facing an onslaught of filed and threatened investor claims after its Yield Enhancement Strategy (“YES”)…
Read MoreInvestor Alert: SEC Cautions Coronavirus Investment Scams on the Rise
In February 2020, the Securities and Exchange Commission (SEC) issued an alert, cautioning investors to be wary of scams tied…
Read MoreInvestment Fraud Continues to Plague USCIS EB-5 Program
The SEC recently announced a series of new enforcement actions against EB-5 regional centers participating in the U.S. Citizenship and…
Read MoreWoodbridge CEO Pleads Guilty to $1.3 Billion Fraud
Robert Shapiro, the ex-CEO of the Woodbridge Companies, has pled guilty to orchestrating a $1.3 billion fraud impacting more than…
Read MoreRegulators Pursue Enforcement Actions Against Woodbridge Sales Representatives
Last December, the Securities and Exchange Commission accused the Woodbridge Group of Companies and its founder, Robert Shapiro, of running…
Read MoreCalifornia Securities Lawyer Update: From Bad to Worse, Wells Fargo Increases Fake Account Estimate
Wells Fargo now estimates that the firm opened 3.5 million phony bank and credit card accounts [...]
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