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 [...]
The Securities and Exchange Commission (SEC) has obtained an emergency order in federal court to freeze assets and halt an ongoing offering fraud and Ponzi-like scheme orchestrated by Zera Financial LLC and its principal, Luis A. Romero (SEC Litigation Release — Zera Financial LLC and Luis A. Romero). According to the SEC's complaint, the defendants [...]
Former broker Gabriel Hynes, previously registered with Kestra Investment Services and NYLife Securities, was barred by FINRA after refusing to appear for testimony in an investigation involving Future Income Payments pension-stream investments. The case raises investor concerns involving outside investments, private securities transactions, selling-away issues, and brokerage firm supervision.
Allegations involving Forge Securities brokers and a fake pre-IPO investment fund raise serious questions about private-market due diligence, broker supervision, and investor protection. As federal prosecutors pursue fraud claims tied to Sestante Capital and NextGenTech Investments, investors who were introduced to these offerings through registered financial professionals may need to examine whether brokerage failures contributed to their losses.
San Antonio attorney Edward Valdespino is facing multiple lawsuits alleging that millions of dollars were routed through lawyer trust accounts tied to high-yield private investment programs that allegedly failed to deliver promised returns. The litigation highlights growing scrutiny surrounding IOLTA accounts, private placements, and alleged misuse of fiduciary structures in investment transactions.
FINRA accused Spartan Capital Securities and broker James Pecoraro of operating excessive trading and churning practices that allegedly generated substantial commissions while causing major investor losses.
