Daryl Heller, Paramount Management Group, and Prestige Investment Group are accused of operating a massive ATM investment Ponzi scheme that raised more than $770 million from approximately 2,700 investors and caused about $400 million in investor losses. Sonn Law Group discusses the SEC and DOJ cases, warning signs, and potential investor recovery options.
Drive Planning LLC founder and CEO Russell Todd Burkhalter has pleaded guilty to wire fraud in connection with what federal prosecutors described as “likely the largest Ponzi scheme in Georgia history.” According to the U.S. Department of Justice, Burkhalter and Drive Planning defrauded more than 2,000 investors out of approximately $380 million through investment offerings [...]
Investors who have suffered significant losses involving alternative investments often have questions about who may be legally responsible and whether those losses can be recovered. While every investment decline does not automatically give rise to a legal claim, certain circumstances involving broker misconduct, unsuitable recommendations, inadequate due diligence, or material misrepresentations may warrant further review. [...]
Sonn Law provides the following update for investors who may have exposure to Inspired Healthcare Capital Holdings, LLC and its related entities currently in bankruptcy proceedings. Bankruptcy Case Overview The Bankruptcy Court has established a formal Bar Date for filing Proofs of Claim in the following cases: General Bar Date:August 14, 2026 at 5:00 p.m. [...]
Another high-profile lawsuit is putting Miami's luxury real estate market under the microscope. Italian entrepreneur and investor Gianluca Vacchi has filed a $95.75 million lawsuit against developer Michael Stern, alleging a far-reaching fraud scheme involving multiple South Florida luxury development projects. According to the complaint, approximately $60 million in investor capital intended for major Brickell [...]
The Securities and Exchange Commission has announced settled charges against Merrill Lynch, Pierce, Fenner & Smith Incorporated, alleging that the broker-dealer failed to file numerous Suspicious Activity Reports, or SARs, from April 2020 through September 2024. Merrill Lynch agreed to pay a $7.5 million civil penalty to resolve the SEC’s findings, without admitting or denying [...]
EagleBank and Eagle Bancorp agreed to pay more than $9.7 million under a DOJ non-prosecution agreement involving alleged Bank Secrecy Act violations, AML compliance failures, and a long-running check-kiting scheme.
Hector Mena, a financial professional associated with Cetera Wealth Services, is the subject of a pending customer dispute that alleges unsuitable investment recommendations and seeks approximately $700,000 in damages. The dispute is reported in public sources and should be treated as an allegation, not a proven finding. According to his public BrokerCheck profile (https://brokercheck.finra.org/individual/summary/5400535), investors [...]
John Blanck, an investment adviser representative with Success Wealth Management, is linked to a pending $9 million customer dispute involving allegations tied to annuity and insurance-related products.
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