According to the U.S. Securities and Exchange Commission (“SEC”), Kathleen S. Dobens and her husband Charles T. Dobens ran an investment fraud from their home in Duxbury, Massachusetts. The SEC claims that the Dobens, operating through four entities, Silex Group, LLC, Preakness Apartments I & II, LLC, Cherry Hills Apartments of Fort Worth, LLC, and [...]
According to the U.S. Securities and Exchange Commission (“SEC”), Massachusetts-based State Street Bank and Trust Company (“State Street”) misled investors about the extent of subprime mortgage-backed securities in funds managed by State Street. Conservative investors who thought they were investing in money market equivalent funds wound up owning funds full of extremely risky subprime mortgages. According [...]
The SEC has charged Medical Capital Holdings, Inc. (“MCH”) with fraud. Massachusetts Secretary of State has charged Securities America, Inc. with helping to sell MCH’s alleged fraud.
Gregg Thomas Rennie was a stockbroker in Quincy, Massachusetts. According to prosecutors, he used that status to defraud his brokerage customers out of more than $3 million, by promising them a return of 12 percent per year through investment in fictitious “federal housing certificates.” According to prosecutors, Rennie targeted elderly investors, convincing them to [...]
The U.S. Securities and Exchange Commission has filed an emergency enforcement action to halt what it claims is an ongoing Ponzi scheme being operated by Richard Elkinson through his company Northeast Sales. According to the SEC’s complaint, Elkinson raised approximately $28 million from investors in 12 states by selling the promissory notes supposedly returning between nine and 13 percent. [...]
As all the Ponzi schemes hit the news, it’s getting more difficult to decide what you should do with your money. Whether it’s Madoff, Nadel, or Cosmo, there are always more details to the latest scams on the front pages of the news. It’s gotten so extreme that the Massachusetts Secretary of State, William Galvin, [...]
The U.S. Securities and Exchange Commission (“SEC”) has obtained a judgment against Evan K. Andersen, of Boston, Massachusetts - formerly the head of a hedge fund called Lydia Capital, LLC – for defrauding more than 60 people out of more than $30 million. According to the SEC’s press release:
SEC Tags CEO for Market Manipulation
Paradigm was a penny stock. Investing in penny stocks is very risky and, yet, investors will always invest in them, hoping that they have latched onto the next Apple or Microsoft. Scam artists know about this hope.