A reported in a recent blog posting by the Securities Litigation & Consulting Group, (“The Recent Market Turmoil Spells Trouble for ‘Auto-Liquidators’ like Interactive Brokers”), brokerage firms that require their clients to agree to the automatic liquidation of positions when their accounts are in a margin deficit face renewed questions after the wild stock-market gyrations […]
The Securities and Exchange Commission today announced that two Citigroup affiliates have agreed to pay nearly $180 million to settle charges that they defrauded investors in two hedge funds by claiming they were safe, low-risk, and suitable for traditional bond investors. The funds later crumbled and eventually collapsed during the financial crisis. Citigroup Global Markets […]
The Securities and Exchange Commission today charged a purported investment adviser in San Diego with stealing money from clients for personal use and conducting a Ponzi scheme to pay customers making redemption requests. In a complaint filed in federal court in San Diego, the SEC alleges that Paul Lee Moore and Coast Capital Management, his […]
Aidikoff, Uhl & Bakhtiari partner Ryan Bakhtiari has been invited to participate as a speaker at the 2015 Practicing Law Institute (PLI) conference program on Thursday, July 30, 2015. The PLI Securities Arbitration program is held at the PLI New York Center and also online by webcast. The program brings together legal professionals with securities […]
Registered Representative Cesar Rodriguez Barred for Fraud and Improper Use of Customer Funds WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that Avenir Financial Group, its CEO Michael Clements, and registered representative Karim Ibrahim aka Chris Allen consented to an order halting further fraudulent sales of equity interests in the firm and promissory […]