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Monthly Archives: March 2015

Stock Scam Cost Investors $900,000

By Tom Costello of Costello Law Group  The Securities and Exchange Commission (SEC) has sued a broker from Palo Alto, California for allegedly operating a stock scam that defrauded investors out of $900,000. According to the SEC, Vinay Kumar Nevatia sold shares of CSS Corp. Technologies (Mauritius) Limited to his clients in 2008 […]

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Washington Adviser Accused of Wire Fraud Receives 51-month Sentence

By Tom Costello of Costello Law Group  Jeffrey M. Knutsen, a financial advisor from Bellingham, Washington, was sentenced to 51 months in prison with three years of supervised release after accusations of wire fraud. Along with prison time, U.S. District Judge James L. Robart also ordered Knutsen to pay $251,892 in restitution to […]

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John Carris Investments, LLC Expelled from the Securities Industry along with CEO George Carris

By Tom Costello of Costello Law Group A Financial Industry Regulatory Authority (FINRA) panel expelled both John Carris Investments, LLC and its CEO, George Carris, for fraud and suitability violations. The allegations of wrongdoing related to a scam which involved the sale of stock and promissory notes in a JCI subsidiary known as […]

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Spurs All-Star, Tim Duncan, Sues Advisor

By Tom Costello of Costello Law Group  NBA All-Star, Tim Duncan, sued his Atlanta-based financial advisor, Charles Banks, last month after alleging Banks advised him to purchase highly speculative investments which resulted in extreme losses. Banks acted as Duncan’s financial advisor for over fifteen years. Duncan is claiming losses of $7.5 million. Duncan […]

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