Articles
Philadelphia-based Investment Adviser Charged with Fraud
The SEC charged Sam Otto Folin (“Folin”), Benchmark Asset Managers LLC (“Benchmark”) and Benchmark’s parent company, Harvest Managers LLC (“Harvest”), with misappropriating approximately $8.7 million from advisory clients, friends and family through material...
Foreign Currency Trading Firm Defrauds Investors with Promises of Stable Returns
The Securities and Exchange Commission (SEC) on July 14, 2011 filed fraud charges against the CEO of a purported foreign currency trading firm, alleging he scammed hundreds of investors with false promises of high, fixed-rate returns while secretly using their money...
“Trusted Adviser” Apparently Defrauded Famous Basketball Coaches
According to CBSSports.com, several prominent college basketball coaches may have been defrauded by a Houston-area investment adviser who was found dead over the weekend. This sounds like yet another example of an affinity scam -- basketball coaches investing with an...
Regulators Settle Fraud Case Against Morgan Keegan for $200 Million
The case against Morgan Keegan centered around sales materials that contained exaggerated claims and failed to disclose risks, and supervisory system failures. In addition to the case brought by the regulators, investors brought a series of lawsuits against Regions...
SEC Issues Order Raising Performance Fee Rule Dollar Limit to Adjust for Inflation
On July 12, 2011, the Securities and Exchange Commission (SEC) issued an order that raises, to adjust for inflation, two of the thresholds that determine whether an investment adviser can charge its clients performance fees. The order carries out a requirement of the...
Protect Yourself – The Government Cannot Prevent Misconduct, It Can Only Punish Wrongdoers
While the Securities and Exchange Commission (SEC) is making great strides in its effort to improve its ability to protect investors, it has once again demonstrated that it cannot be relied upon as a infallible cop on the beat. The latest scandel involves one of its...
Protect Yourself – Aging Can Be Dangerous to Your Investments
Always remember that you, and only you, can protect your investments from misconduct by others. Wittenberg Law promotes and provides independent, conflict-free investment analysis so you do not have to do guesswork on your own. Wittenberg Law also advises that you...
Banner 6 Months for Wittenberg Law
Press Release: Banner 6 Months for Wittenberg Law For Immediate Release Date June 22, 2011 Contact Jeffrey Wittenberg, Esq. 877-352-2010 Wittenberg Law has had a banner first half of 2011. In January, Wittenberg Law achieved an excellent settlement in a commercial...
SEC & FINRA Warn on Risks of Investing in Principal-Protected Notes
On June 2, 2011, the U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) jointly issued an investor alert called "Structured Notes with Principal Protection: Note the Terms of Your Investment" to educate investors about...
SEC Proposes New “Qualified Client” Definition Impacting Investment Adviser Performance Fee Rules
Last month, the Securities and Exchange Commission proposed adjusting the financial thresholds used to define a “qualified client” for purposes of the performance compensation rules under the U.S. Investment Advisers Act of 1940, generally raising the so-called net...