Articles Posted in Fraud

If you are considering using provisions under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to withdraw and reinvest money from your retirement savings, be aware that fraudsters may be targeting you. Be wary when someone encourages you to use your retirement savings to make new investments. When considering new investments, do your…

Victims of COVID-19 Scams and Cybercrime Need to Act Fast – FBI’s Financial Fraud Kill Chain May Recover Fraudulent Wire Transfers Cybercrime is becoming ever more pervasive, and with so many more people working at home during the COVID-19 coronavirus pandemic, the risk of a fraudulent wire transfer and other financially motivated crimes is higher…

The news has been full of stories of investment losses. First, it was cryptocurrencies and related investments on a roller coaster ride of valuation. Then, in the last week, the major stock market indices followed… Dow Jones, S&P 500, Nasdaq… What is a Main Street investor to do? As a securities attorney representing investors in…

Ten Red Flags of Investment Fraud We’ve updated our list of ten red flags that  investors should be aware of: danger signs that point to potential mismanagement of an account or investment fraud by a financial advisor. These red flags are useful as you evaluate your own investments, review the investments of an elderly relative,…

This past Thursday, the same day I posted about a recent FINRA Investor Alert regarding cryptocurrency, there was a new press release from the North American Securities Administrators Association (NASAA) with further guidance on the same topic. NASAA’s analysis and warning amounts to this:  Initial Coin Offerings (“ICOs”), and all other investment products related to…

Our original concerns about Wells Fargo Broker Adorean Boleancu have escalated. In March, Boleancu was ordered by FINRA to pay back a widowed client $650,000. He was indicted on charges of check fraud and money laundering in California and, in a civil complaint filed in August of 2012, it was alleged that Boleancu made an…

High-profile securities fraudsters are often repeat offenders. The 71-year-old square-jawed former Oregon candidate for governor, Craig Berkman, recently pled guilty in a New York courtroom to one count of securities fraud and one count of wire fraud. This all relates to a scam that targeted investors eager to make early purchases of Facebook stock when…