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Securities

Farm Loan Ponzi Scheme Costs Investors Millions

By Tom Costello of Costello Law Group Matthew Haab, president of Partners Inc., faces charges by the Securities and Exchange Commission (SEC) for allegedly running a Ponzi scheme. The SEC believes that Haab deceived eighty of his clients into investing in loans to farmers. The clients were told that the loans would be […]

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Oklahoma Court Orders New Arbitration After Investor is not Satisfied with Award

By Tom Costello of Costello Law Group  Earlier this month, an Oklahoma court ordered a new arbitration hearing for an investor’s claims against Geary Securities Inc. Steven Admire argued that the arbitration panel failed to provide him with an adequate award of damages. Mr. Admire claimed a total of $1.6 million in damages […]

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Defiant Money Manager Banned from Securities Industry

By Tom Costello of Costello Law Group posted in Securities on Friday, July 11, 2014. Max E. Zavanelli, a Florida based money manager, was banned from the securities industry. An administrative law judge found that the SEC presented sufficient evidence to establish that Zavanelli provided misleading information to Morningstar. Zavanelli and his firm, ZPR Investment Management […]

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Frederick Advisor Steals $1.2 Million Through Wire Transfers

By Tom Costello of Costello Law Group Travis Wetzel, an advisor from Frederick, Maryland was indicted on wire fraud charges last month. Wetzel was the branch operations manager at Research Financial Strategy, an advisory firm located in Rockville, Maryland. Wetzel allegedly embezzled $1,282,224 from a clients of the firm. On May 9, 2014, […]

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Merrill Lynch and Wells Fargo Fined

By Tom Costello of Costello Law Group The Financial Industry Regulatory Authority (FINRA) fined both Wells Fargo and Merrill Lynch $2.15 million for the unsuitable recommendation and sale of mutual funds known as “floating-rate bank loan funds.” Not only were Merrill Lynch and Wells Fargo ordered to pay a hefty fine, FINRA also […]

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