Well, folks, there’s a storm brewing in the financial world. Allegations are swirling around the head of one John Woods, a financial advisor formerly associated with Oppenheimer & Co. Inc. and Southport Capital. The claimant alleges that Woods orchestrated a Ponzi Scheme, a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors, from 2015 to 2021. This scheme allegedly siphoned off a whopping $237,200.
The Allegation
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Let’s break it down, shall we? In simple terms, a Ponzi Scheme is a fraudulent investing scam promising high rates of return with little risk to investors. The scheme leads victims to believe that profits are coming from legitimate business activity when, in fact, they are coming from payments made by new entrants to the scheme.
In this case, the claimant alleges that John Woods conducted such a scheme while working for Oppenheimer & Co. Inc. from 2003 to 2016, and then at Southport Capital from 2019 to 2021. The investments in question are Equity Listed (Common & Preferred Stock) and other private placements.
Investigation by Haselkorn & Thibaut
Hold onto your hats, because this is where it gets interesting. The law firm Haselkorn & Thibaut is on the case. They’re investigating both the advisor and the company, and they’re offering free consultations to clients who may have been affected. If you’re one of those clients, you might want to give them a call at 1-800-856-3352.
FINRA Arbitration
Now, you might be asking, “What can be done about this?” Well, that’s where FINRA Arbitration comes in. The Financial Industry Regulatory Authority (FINRA) provides an arbitration platform where disputes between investors and their brokers can be resolved. This could help investors recover losses they’ve incurred due to fraudulent activities.
About Haselkorn & Thibaut
Haselkorn & Thibaut is a national investment fraud law firm with offices in Florida, New York, North Carolina, Arizona, and Texas. They have over 50 years of experience under their belt, and they’ve been pretty successful in their endeavors. In fact, they have a 98% success rate when it comes to financial recoveries for investors. What’s more, they operate on a “No Recovery, No Fee” policy. That means if they don’t win your case, you don’t owe them a dime.
So, if you’ve been affected by this alleged Ponzi Scheme, don’t hesitate to reach out. Remember, the seriousness of these allegations cannot be overstated. It’s crucial to take action and protect your financial future.
