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Securities and Exchange Commission

Ex Eagles Player in Trouble with the SEC

By Tom Costello of Costello Law Group  The Securities and Exchange Commission filed a complaint against former Philadelphia Eagle, Merrill Robertson, Jr., and his partner Sherman Vaughn. The SEC believes that Robertson and Vaughn defrauded investors out of $6 million. Robertson and Vaughn were able to raise $10 million from investors based upon […]

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Broker Barred for Biosyntec Investments

By Tom Costello of Costello Law Group The Securities and Exchange Commission has ordered Lee Weiss and his brokerage firm, Family Endowment Partners, LLC, to refund $8.4 million to defrauded investors. Additionally, the SEC fined Mr. Weiss $1.5 million and barred him from the securities industry. The SEC believes that Mr. Weiss had […]

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Firm and Founder Expelled from the Securities Industry

By Tom Costello of Costello Law Group William Marshall Dratel and his firm, The Dratel Group, Inc., were both expelled from the securities industry by the Financial Industry Regulatory Authority (FINRA). The Securities and Exchange Commission (SEC) also imposed sanctions on the firm for allegedly engaging in a trading scheme in which Dratel […]

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Radio Show Host Barred by the SEC

By Tom Costello of Costello Law Group Washington, D.C. based financial advisor and radio talk show host, Dawn Bennett, and her firm, Bennett Financial Group, have been barred by the Securities and Exchange Commission (SEC). The SEC announced their charges of fraud against Bennett in September 2015. Leading up to these charges, Bennett […]

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Advisor to Pro Athletes Swindles $2.35 Million

By Tom Costello of Costello Law Group  Louis Martin Blazer, III, a financial adviser from Pittsburgh, was charged by the Securities and Exchange Commission (SEC) for allegedly creating a Ponzi scheme. The SEC believes Blazer defrauded his pro athlete clients by taking about $2.35 million out of their accounts, without their authorization, and […]

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Equinox to Refund Investors $5.4 million

By Tom Costello of Costello Law Group Alternative fund manager Equinox Fund Management, LLC recently settled charges with the Securities and Exchange Commission (SEC). The SEC alleged that Equinox misrepresented and misled investors about a specific fund named The Frontier Fund (TFF). The SEC alleged that Equinox misrepresented the amount of management fees […]

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Ex Advisor Admits to Defrauding Clients

By Tom Costello of Costello Law Group  The former president of Coastal Investment Advisors Inc., Michael Donnelly, admitted to defrauding his clients. Donnelly swindled almost $2 million from 13 clients, many of whom were over the age of 65. According to the SEC, Donnelly misappropriated money provided to him by his clients for […]

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SEC and FINRA hit UBS with Combined $34 Million Fine

By Tom Costello of Costello Law Group The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) fined UBS Wealth Management for claims related to the offer and sale of the Puerto Rico bond fund. The SEC’s fine totaled $15 million. The money will go into a fund for the […]

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New Bill Could Increase SEC’s Statute of Limitations from 5 to 10 years

By Tom Costello of Costello Law Group Senator Jack Reed, D-R.I., has introduced a new bill in response to the Supreme Court’s decision in Gabelli v. SEC. The bill proposes that the statute of limitations applicable to Securities and Exchange Commission (SEC) enforcement actions be lengthened from five years to ten years. In Gabelli v. […]

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