Goldman Sachs agreed to pay $500 million to settle a shareholder class action tied to the 1MDB scandal. The lawsuit alleged that Goldman misled investors about its role in 1MDB and its risk controls, raising important issues for securities fraud litigation and shareholder recovery.
Greg Lindberg, founder of Eli Global and owner of Global Bankers Insurance Group, was sentenced to 12 years in federal prison in a $2B insurance fraud, money laundering, and bribery case. The DOJ says thousands of policyholders and other victims remain collectively owed more than $1B.
Recent FINRA and DOJ updates highlight investor risks involving structured notes, churning, private placements, speculative debt products, low-priced securities, and Ponzi-style investment schemes. These developments show why supervision, disclosure, suitability, and investor recovery remain central issues in securities disputes.
Federal prosecutors are seeking to seize seven properties and eleven vehicles allegedly purchased with proceeds from the Goliath Ventures scheme. The latest DOJ filing alleges at least $400 million was obtained from more than 1,000 investors and highlights the importance of asset tracing, forfeiture, and civil recovery litigation.
Former financial advisor Edwin Emmett Lickiss Jr., whose former firm Foundation Financial Group was allegedly used on fraudulent promissory notes, pleaded guilty in a $9.5 million Ponzi scheme involving fake bond investments and more than 93 investors.
Investors who suffered losses in the Wildermuth Fund — including WESFX, WEFCX, and WEIFX — may have separate claims against the financial advisors or brokerage firms that recommended the investment. Sonn Law Group is reviewing potential FINRA arbitration claims involving unsuitable recommendations, due diligence failures, and misrepresentations tied to the Fund’s illiquidity, private equity exposure, liquidation, and NAV decline.
Recent FINRA disciplinary actions involving brokers and firms including Anthony Tianfeng Cheng, Peter Thomas Lawrence, Jeffrey Kenneth Galvani, Stuart A. Jeffery, Robert Settimio Cupello, Arkadios Capital, Taglich Brothers, Avantax Investment Services, Altruist Financial, and Goldman Sachs Custody Solutions highlight allegations involving broker misconduct, unsuitable recommendations, private securities transactions, supervisory failures, and regulatory compliance issues.
A Miami jury has awarded nearly $48 million in a Golden Beach broker commission dispute involving allegations of fraud, tortious interference, and conspiracy. The verdict underscores how financial and business misconduct claims can escalate far beyond the original commission amount when deception is alleged.
High-yield investment programs promising low-risk, outsized returns remain a major red flag for investors. In one of the most significant private offering fraud cases filed in South Florida this year, the Securities and Exchange Commission (SEC) has stepped in to halt an alleged $26 million scheme targeting retail investors. On May 12, 2026, the SEC [...]
