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FINRA Orders Centaurus Financial to Pay Over $634,000 in Restitution in Variable Annuity Case

By |2026-08-20T08:17:21-04:00August 20th, 2026|FINRA Arbitration Attorney|

FINRA ordered Centaurus Financial, Inc. to pay $634,488.56 in customer restitution after finding supervisory failures involving variable annuity exchanges and recommendations. FINRA also suspended Centaurus broker Patrick Michael Carroll for 12 months in connection with unsuitable variable annuity exchanges. The Financial Industry Regulatory Authority has censured and fined Centaurus Financial, Inc. and ordered the brokerage [...]

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FINRA Alleges Widespread Churning at Spartan Capital Securities: What Investors Should Know

By |2026-08-19T10:23:48-04:00August 19th, 2026|FINRA Arbitration Attorney, FINRA Arbitration News, Cases & Investor Resources | Sonn Law|

FINRA’s complaint alleges that excessive trading in 114 customer accounts generated nearly $10 million in trading costs and almost $8 million in investment losses. Investors who held accounts at Spartan Capital Securities may have potential claims for churning, excessive trading, unsuitable recommendations, or failure to supervise. The Financial Industry Regulatory Authority filed a disciplinary complaint [...]

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INVESTIGATION ALERT: Drive Planning CEO Todd Burkhalter Sentenced to 20 Years in $380M Real Estate Ponzi Scheme—What Investors Need to Know Now

By |2026-08-17T09:05:11-04:00August 17th, 2026|Investor Alerts|

In what federal prosecutors are calling the largest Ponzi scheme in Georgia history, Russell Todd Burkhalter, founder and CEO of Drive Planning LLC, has been sentenced to 20 years in federal prison (AJC). This maximum sentence comes after Burkhalter defrauded more than 2,000 investors out of approximately $380 million. If you or a family member [...]

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After the NFL: Why Former Players Face Unique Investment Risks and What They Can Do After a Financial Loss

By |2026-08-17T08:21:38-04:00August 17th, 2026|Celebrity Cases, FINRA Arbitration News, Cases & Investor Resources | Sonn Law, Investor Alerts, Investor Resources|

Financial success during an NFL career does not guarantee financial security after it Reaching the National Football League represents an extraordinary professional achievement. But after the games end, former players can face an equally demanding challenge: making income earned during a relatively concentrated period last for decades. NFL retirement is not comparable to an ordinary [...]

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Beyond the Promoter: How NFL Players and Investors Can Recover Losses After the Death of Mohamed Coulibaly

By |2026-08-16T20:32:37-04:00August 16th, 2026|Celebrity Cases, Investor Alerts|

Understanding the Legal Avenues for Loss Recovery When a key promoter dies, civil litigation against that individual directly becomes an estate matter (India Times). However, investment fraud schemes rarely operate in complete isolation. Experienced securities attorneys examine whether secondary parties bear legal or financial responsibility. 1. Claims Against the Estate Victims of alleged misrepresentation can [...]

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Mohamed Coulibaly and the NFL Investment Allegations: What Athletes, Celebrities, and High-Net-Worth Investors Should Know

By |2026-08-15T09:29:48-04:00August 15th, 2026|Celebrity Cases, Investor Alerts|

The Mohamed Coulibaly case is raising a larger question for professional athletes Professional athletes and celebrities are constantly approached with business opportunities that promise passive income, rapid growth, or access to exclusive investments. The reported allegations involving Philadelphia entrepreneur Mohamed Coulibaly have drawn national attention because they reportedly involved professional athletes, former NFL players, online [...]

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UBS Financial Hit with $20M FINRA Fine & Historic $125M FinCEN Penalty

By |2026-08-11T11:37:57-04:00August 11th, 2026|FINRA Enforcement Actions|

In one of the largest anti-money laundering (AML) enforcement actions to date, UBS Financial Services Inc. was hit with a $20 million FINRA fine (FINRA News Release: FINRA) and a historic $125 million FinCEN civil penalty (FinCEN News Release: FINCEN). Regulators cited repeat failures to monitor over 60,000 foreign currency wire transfers valued at more [...]

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Stifel Settles Dispute for $3.6 Million Over Barred Broker Chuck Roberts

By |2026-08-11T11:27:25-04:00August 11th, 2026|FINRA Arbitration News, Cases & Investor Resources | Sonn Law, FINRA Enforcement Actions|

Stifel Financial has agreed to pay nearly $3.6 million to settle two customer complaints linked to barred Miami broker Chuck Roberts ThinkAdvisor. The disputes alleged fraud, breach of fiduciary duty, negligence, and violations of Florida securities protection laws involving Roberts’ structured notes strategy. Stifel faces over $206 million in potential liability, awards, and settlements across [...]

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Targeted: Confidence Scams and the Unique Risks Facing NFL Players

By |2026-08-10T11:18:00-04:00August 10th, 2026|Celebrity Cases, Investor Alerts|

NFL players and other professional athletes increasingly face sophisticated financial schemes designed to exploit their success. Behind the headlines and highlight reels, sudden wealth, public visibility, and the complexities of modern finance have made pro athletes prime targets for confidence scams. The tactics: relentless persuasion, “exclusive” investment invites, and—more recently—the lure of fast-track crypto riches. [...]

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