wallstreetfraudblog.com

How to Protect Your Investments: Five Simple Tips

Investment fraud is thriving in the current economy, as investors seek to recoup losses from the past few years and generate higher yields. To make sure you are not the next victim, investors need to be extra vigilant before and after making investments.

Is Elder Fraud More Common Than We Think?

Unfortunately, elder fraud is likely more common than reports suggest. Victims of elder fraud are often afraid or too embarrassed to admit they have been swindled. This not only leads to lower reporting, but also makes it easier for the fraudster to take advantage of the next victim.

Hedge Fund Fraud Was a Family Affair

While the number of hedge funds has surged in recent years, regulators have largely failed to keep up by increasing oversight. As a result, hedge fund investors are often susceptible to securities fraud.

Investment Fraud Case Proves Scammers Rarely Change Their Stripes

David Blech, who was previously convicted of investment fraud in 1998 and barred from the industry, pleaded guilty to two new charges of manipulating stock prices last week. He is also facing a related action by the Securities and Exchange Commission.

Securities Fraud Litigation: Would You Let a Robot Pick Your Stocks?

The Securities and Exchange Commission recently charged twin brothers in connection with an Internet-based pump-and-dump scheme involving a fake “stock picking robot” that purportedly identified penny stocks set to double in price. While the securities fraud may seem unbelievable, the brothers were able to bilk approximately 75,000 investors.

Securities Fraud Alert: Could Your Investment Account Be Hacked?

A Russian national has been arrested for securities fraud, after allegedly hacking into brokerage accounts and executing fraudulent trades. Understandably, this has left many investors questioning the safety of their own brokerage accounts.

SEC Alleges UBS Defrauded Mutual Fund Customers

The Securities and Exchange Commission recently charged UBS Financial Services Inc. of Puerto Rico and two executives with making misleading statements to investors regarding closed-end mutual funds. UBS Puerto Rico has agreed to settle the SEC’s charges by paying $26.6 million that will be placed into a fund for defrauded investors.

Five Social Media Tips for Older Investors

The SEC’s Office of Investor Education and Advocacy recently issued an Investor Bulletin to provide older investors who use social media with a few tips to help them avoid investment fraud. Given that more seniors are flocking to social media and using it as a tool to research investments, we want to highlight five of the most important tips.

Morgan Keegan Securities Fraud Lawsuit Revived

A federal appeals court has revived a Securities and Exchange Commission lawsuit accusing Morgan Keegan & Co of fraudulently misleading investors about the risks of auction-rate securities. As a result, investors will have a second chance to recover their losses.

Unsuitable ETFs Lead To Heavy Fines for UBS, Wells Fargo, Citigroup, and Morgan Stanley

As expected, the Financial Industry Regulatory Authority (FINRA) has sanctioned several leading firms for selling leveraged and inverse exchange-traded funds (ETFs) without reasonable supervision and for not having a reasonable basis for recommending the securities. Citigroup Global Markets, Inc; Morgan Stanley & Co., LLC; UBS Financial Services; and Wells Fargo Advisors, LLC were fined more than $7.3 million and are required to pay a total of $1.8 million in restitution to certain customers who made unsuitable leveraged and inverse ETF purchases.