FINRA announced today that Raymond James & Associates Inc. has settled charges of providing inaccurate trade confirmations to customers over eight years, totaling at least 1.85 million confirmations. The broker-dealer from St. Petersburg, Florida, has agreed to a $300,000 fine and a censure without admitting or denying any wrongdoing between January 2014 and May 2022. …
Paul McGonigle, a 67-year-old financial adviser from Middleboro, Massachusetts, pleaded guilty to defrauding his elderly clients and stealing their retirement assets. He allegedly stole at least $1.4 million from the annuities of 15 clients over three years, according to court documents and a statement jointly released by the U.S. Attorney’s Office and the Federal Bureau …
Paul McGonigle Pleads Guilty to Defrauding Clients and Stealing Their Retirement Assets Read More »
Investors that own the Business Development Corporation of America (BDCA) are seeing massive losses. BDCA is a non-traded business development company (BDC) that focuses on senior secured loans with middle-market companies. A non-traded BDC does not trade like a stock or a bond on a national exchange. It is generally considered risky, complex, and illiquid because …
BDCA (Business Development Corporation of America) Losses Surge Read More »
Investors of CIM Real Estate Finance Trust, formerly known as Cole Credit Property Trust IV, should know that Haselkorn & Thibaut (InvestmentFraudLawyers.com) have started an investigation into alleged improper sales of the investment to investors. This non-traded REIT is allegedly planning to reposition its portfolio into commercial mortgage loans and intends to sell off shopping …
Cole Credit Property Trust IV – CIM Group – Losses Investigation Read More »
GWG L Bonds are considered high risk investments because they lacked credit rating and insurance. GWG L Bonds investors are facing large losses due to the bankruptcy.