by wittenberglaw | Aug 17, 2010 | articles, press-release, w-law-blog
According to the Washington-based Investor Protection Trust, a nonprofit that promotes shareholder education, one out of five Americans over the age of 65 has been the victim of an investment scam. There are well over 35 million Americans over the age of 65, which...
by wittenberglaw | Aug 12, 2010 | Uncategorized, w-law-blog
According to the FBI complaint, Eliyahu Weinstein operated a Ponzi scheme in New Jersey beginning as early as September 2005 through an entity called Pine Projects, LLC. It appears that at least $200 million of investor capital has been lost. Like many other Ponzi...
by wittenberglaw | Jul 20, 2010 | w-law-blog
This flow chart is designed to answer general questions that you may have about whether the Private Fund Investment Adviser Act of 2010 (“Private Fund Act”) will force you to register your advisory firm with the Securities and Exchange Commission (“SEC”). The Private...
by wittenberglaw | Jun 28, 2010 | Uncategorized, w-law-blog
On June 24, 2010, a Financial Industry Regulatory Authority (FINRA) arbitration panel ordered Goldman Sachs to pay $20.58 million to creditors of the Bayou Group, a hedge fund that was charged with operating a Ponzi scheme, to settle claims that the bank helped the...
by wittenberglaw | Jun 24, 2010 | w-law-blog
Judge Ryskamp of the United States District Court, Southern District of Florida, dismissed a lawsuit by an investor, Dr. Salmon Melgen, in a Ponzi scheme (operated by KL Group’s Jung Bae Kim, the scheme’s ringleader, who is currently serving an 18-year...
by wittenberglaw | May 19, 2010 | w-law-blog
Recently, the Securities and Exchange Commission (SEC) settled an administrative action against Yosemite Capital Management, LLC (“Yosemite”), a registered investment advisor, and its managing director Paul H. Heckler (“Heckler”), because it failed to disclose to...
