LOUIS PETER GOFF, Edger Solutions, LLC and Edger Solutions Management, LLC and Phoenix Outsourced Development, LLC.

(March 4, 2024, San Diego, CA) The securities fraud and elder financial abuse law firm of Richard A. Nervig, P.C. is investigating and offering free initial consultations to investors who purchased securities and otherwise did business with LOUIS PETER GOFF (“Goff”) , Edger Solutions, LLC (“Edger”) and Edger Solutions Management, LLC and Phoenix Outsourced Development, LLC (“Phoenix”).    

 According to a complaint filed by the Securities and Exchange Commission against Goff, Edger and Phoenix in October 2019, October 2019, Goff, in connection with the sale of Edger investment contracts for a foreign currency trading program, Goff made false statements about investors’ account values; profitability of their Edger accounts; current and historical account returns; Goff’s experience and qualifications; and his personal management of over $750 million in client funds. The complaint also alleged that Goff failed to disclose to investors in Edger that their funds were transferred to bank and foreign currency trading accounts controlled by Phoenix Outsourced Development, LLC, which was operated by a securities law recidivist. The complaint alleged Goff reviewed and approved Edger’s Private Placement Memorandum, and monthly performance reports for investors, both of which contained material misrepresentations and omissions. Finally, the Commission’s complaint alleges that Goff failed to disclose to investors in Edger that all trading on behalf of Edger was done by a securities fraud recidivist and convicted felon. See, Phoenix Outsourced Development, LLC, Edger Solutions Management, Michael McLaughlin, Derek McLaughlin, Louis Peter Goff, Eric Fairbourn, Brian Hubbard, Nicholas Deluca (sec.gov).

On March 4, 2024, the SEC entered an Order Instituting Proceedings ordering that Goff among other things be barred from participating in any offering of a penny stock, including: acting as a promoter, finder, consultant, agent or other person who engages in activities with a broker, dealer or issuer for purposes of the issuance or trading in any penny stock, or inducing or attempting to induce the purchase or sale of any penny stock. See, Template for Settled Order for AP Based on Injunction/Conviction (sec.gov)

If you did business with any of the above individuals or firms and are interested in learning more about your legal rights and remedies, please contact Richard A. Nervig (info@nerviglaw.com) at (760) 451-2300.

David Scott Cacchione

The firm is offering free initial consultations to investors who did business with David Scott Cacchione.

On January 16, 2024, a criminal complaint filed in the U.S. District Court for the Northern District of California, Cacchione is alleged to have engaged in conspiracy to commit wire fraud relating to an accounts receivable factoring scheme.

According to the complaint, Cacchione, 59, of San Carlos, worked with another person to solicit investors in what they called an “Accounts Receivable Factoring Program.” The complaint alleges Cacchione and an unnamed co-conspirator told victims that investment funds would be used to purchase investment grade accounts receivable, and that investors would be repaid once the receivables were paid. According to the complaint, investors were promised as much as 2 percent per month in interest on the investment and were told that Cacchione himself was a large investor in the program.

The complaint alleges these representations were false and the investment funds were not used to purchase accounts receivables. From at least November 2021 through September 2022, at least four victims were cheated out of a total of about $1.1 million, according to the allegations. The complaint also states that, instead of investing the money as promised, Cacchione and his co-conspirator spent the money on personal and living expenses. The criminal complaint charges Cacchione with conspiracy to commit wire fraud, in violation of 18 U.S.C. § 1349 and 18 U.S.C. § 1343. See, complaint_filed-signed-copycacchione.pdf.

If you did business with Cacchione and are interested in learning more about your legal rights and remedies, please contact Richard A. Nervig (info@nerviglaw.com) at (760) 451-2300.

National Realty Investment Advisors, LLC (“NRIA”).

(March 4, 2024, San Diego, California). On June 7, 2022, National Realty Investment Advisors, LLC and certain of its affiliates (collectively, the "Debtors") each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey.

On October 13, 2022 the Securities and Exchange Commission announced charges against New Jersey-based National Realty Investment Advisors LLC (NRIA) and four of its former executives for running a Ponzi-like scheme that raised approximately $600 million from about 2,000 investors.

The SEC's complaint alleges that beginning in 2018, NRIA and its executives raised funds by promising investors their money would be used to buy and develop real estate properties, which would generate profits through a fund that NRIA set up to invest in the projects. The four executives, Rey E. Grabato II, of Hoboken, New Jersey, Daniel Coley O'Brien, of Southampton, New York, Thomas Nicholas Salzano, of Secaucus, New Jersey, and Arthur S. Scutaro, of Bloomfield, New Jersey solicited investors in a nationwide campaign promising returns of up to 20 percent.

In reality, the complaint alleges, investor money was used to pay distributions to other investors, to fund an executive's family's personal and luxury purchases, and to pay reputation management firms to thwart investors' due diligence of the executives.

The complaint further alleges that NRIA manipulated the real estate fund's financial statements and the financial information in marketing material distributed to investors, intentionally disguising the misuse of investor funds and creating the false appearance that NRIA and the fund were generating more revenue than they actually were and that operations were successful. However, NRIA had little to no revenue, and it and the fund filed for Chapter 11 bankruptcy protection on June 7, 2022. See, SEC.gov | National Realty Investment Advisors LLC, Rey E. Grabato II, Daniel Coley O'Brien, Thomas Nicholas Salzano and Arthur S. Scutaro, a/k/a Arthur S. Scuttaro, and Relief Defendants Olena Budinska and Jamie A. Samul, a/k/a Jamie Salzano.

Most recently, on February, 27, 2024, The shadow chief executive officer of National Realty Investment Advisors LLC (NRIA) today admitted orchestrating a scheme to defraud more than 2,000 investors in a $658 million Ponzi scheme and conspiring to evade millions of dollars in tax liabilities, U.S. Attorney Philip R. Sellinger announced.

Thomas Nicholas Salzano, aka “Nicholas Salzano,” 65, of Secaucus, New Jersey, pleaded guilty before U.S. District Judge Evelyn Padin in Newark federal court to securities fraud, conspiracy to commit wire fraud, and conspiracy to defraud the United States. Salzano admitted he made numerous misrepresentations to investors while he secretly ran NRIA behind the scenes. He also admitted to misappropriating millions of dollars from investors to enrich himself and his family and friends.  See, District of New Jersey | Leader of Real Estate Investment Firm Admits Role in $658 Million Ponzi Scheme and Multimillion-Dollar Tax Evasion Conspiracy | United States Department of Justice.

If you did business with any of the above individuals or firms and are interested in learning more about your legal rights and remedies, please contact Richard A. Nervig (info@nerviglaw.com) at (760) 451-2300.

GWG, HOLDINGS, INC. L-Bond Investors

(June 6, 2022, San Diego, CA) The securities fraud and elder financial abuse law firm of Richard A. Nervig, P.C. is investigating and offering free initial consultations to investors who purchased L-Bonds issued by GWG Holdings, Inc. (“GWG”).    

On April 20, 2022 GWG Holdings, Inc. filed for Chapter 11 bankruptcy.    Prior to the bankruptcy, GWG issued and sold in excess of $1.2billion worth of debt securities known as L-Bonds to individual investors including retirees and other individuals saving for retirement.   See, SEC L-Bond Prospectus.

GWG’s L-Bonds were speculative and unrated debt obligations issued for the primary purpose of funding GWG Holdings’ payment of interest and principal to previous investors.    Further according to court records and SEC filings, GWG has failed to file required audited financial statements and have been under SEC investigation since 2020. 

GWG investments were recommended and sold by securities sales people and their brokerage firms.    The salesperson that recommended and sold your GWG investment was required to comply with the rules of the Financial Industry Regulatory Authority (FINRA), and state and federal securities laws.  These rules forbid salespersons and their firms from recommending investments that are not suitable for your investment needs and from selling investments without making full disclosure of all facts necessary for you to make a sound investment decision.         

Salespersons and their firms are required by FINRA to arbitrate investment loss claims by investors such as yourself. FINRA arbitration is quick and inexpensive.  Filing a claim with FINRA will have no effect on your right to file a claim in the GWG bankruptcy.   Most securities arbitration cases are settled or otherwise resolved within 9 to 14 months after filing.

If you suspect that your GWG investment may not have been appropriate for your investment needs and/or you suspect that you may not have been given all of the facts necessary for you to make a sound investment decision, we would like to speak to you.      If you are a GWG investor and are interested in learning more about your legal rights and remedies, please contact Richard A. Nervig (info@nerviglaw.com) at (760) 451-2300. If you email, please include your phone number.  Also see our website at: www.nerviglaw.com.

BNZ One Capital, LLC , Brett Reed Barber and Louis Alfonso Zimmerle Charged with Operating a $13.5 Million Ponzi-Like Scheme

According to a complaint filed on October 28, 2021 in the U.S. District Court for the Central District of California by the Securities and Exchange Commission, Newport Beach based BNZ ONE CAPITAL, LLC through it’s members, BRETT REED BARBER; and LOUIS ALFONSO ZIMMERLE fraudulently raised $13.5 million from more than 100 retail investors.

According to the SEC's complaint, BNZ, Barber, and Zimmerle since June of 2019 raised $13.5 million from retail investors by telling them that BNZ was in the business of making investments in real estate and alternative investments and promising to pay investors significant returns, generally 10% per year. The complaint alleges that defendants used only $6.4 million of the $13.5 million raised from investors to invest in real estate and alternative investments, and those investments generated just $300,000 in profits. Despite generating minimal profits, the Complaint alleges that defendants paid investors returns using funds raised from other investors in Ponzi-like fashion. SEC Complaint

Separately, Messrs. Barber and Zimmerle were each charged criminally for their actions by the U.S. Attorneys’ Office for the Central District of California. See, U.S. Attorneys' Office Central Dist. of Cal. Press Release dtd 10/29/2021

TCFG Investment Advisor, LLC, TCFG Wealth Management, LLC and Richard James Roberts

The Securities and Exchange Commission charged Laguna Niguel, California-based TCFG Investment Advisors, LLC (TCFG), TCFG's affiliated broker-dealer TCFG Wealth Management, LLC (TCFG Wealth), and Richard James Roberts - their CEO, president, and managing member - with making materially false and misleading statements and omissions related to fee markups charged to TCFG's advisory clients.

According to the SEC's complaint, filed in the U.S. District Court for the Central District of California, from June 2014 through April 2020, TCFG and Roberts breached their fiduciary duty to advisory clients. As alleged, TCFG and Roberts disclosed that TCFG Wealth "may" receive portions of the fees charged to TCFG accounts by its unaffiliated clearing and custody firm when, in fact, Roberts had directed that firm to charge TCFG clients significant markup fees that were paid to TCFG Wealth. The complaint alleges that TCFG and Roberts later disclosed the existence of markups, but continued to mislead TCFG clients by claiming that it was only imposed "in some limited instances." Roberts and TCFG allegedly knew, or were reckless and negligent for not knowing, that the clearing and custody firm's ticket charges were instead marked up approximately 60 percent of the time. The complaint further alleges that TCFG - for which Roberts served as chief compliance officer - failed to implement written policies and procedures reasonably designed to prevent the sorts of disclosure and conflict of interest violations that arose from these practices. According to the complaint, Roberts used TCFG Wealth to aid and abet TCFG's and Roberts's violations.

The complaint charges TCFG and Roberts with violating the antifraud provisions of Sections 206(1) and 206(2) of the Investment Advisers Act of 1940, and charges TCFG Wealth with aiding and abetting those violations. The complaint also charges TCFG with violating Advisers Act Section 206(4) and Rule 206(4)-7 thereunder, and Roberts with aiding and abetting those violations. The complaint seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties. Securities and Exchange Commission v. TCFG Investment Advisor, LLC, TCFG Wealth Management, LLC and Richard James Roberts, No. 8:21-civ-01615 (C.D. Cal. filed September 30, 2021). See, https://www.sec.gov/litigation/litreleases/2021/lr25238.htm.

CalJet Air, LLC; CalJet Management, LLC; George Wozniak, Robert Daly

On August 23, 2021 the California Department of Financial Protection and Innovation issued a Desist and Refrain Order against Respondents stemming from their offer and sale of limited liability company membership interests of CalJet Air, LLC and CalJet Management, LLC. California D&R Dated August 23, 2021.

Craig A. Ponder, Sr. FWI Alternative Marketing, LLC Ponder Financial & Retirement Firm, Inc. (Ontario, California)

On August 19, 2021 the California Department of Financial Protection and Innovation entered a Desist and Refrain Order against Craig A. Ponder, Sr. FWI Alternative Marketing, LLC Ponder Financial & Retirement Firm, Inc. (collectively referred to as “Respondents”). The D&R, arises from Respondents’ alleged attempt to to induce the purchase or sale of securities consisting of promissory notes issued by at least two oil and gas businesses, Petro Rock Mineral Holdings, LLC (PRMH) and Future Income Payments, LLC (FIP). Respondents allegedly did not have licenses to sell securities and further directed their sales efforts towards retirees with pensions, who were in need of additional income (pensioners). California D&R Dated August 19, 2021.

Gary Max Bowman (CRD #2035699, Huntington Beach, California)

July 1, 2021 – An AWC was issued in which Bowman was fined $10,000 and suspended from association with any FINRA member in all capacities for three months. Without admitting or denying the findings, Bowman consented to the sanctions and to the entry of findings that he engaged in an unsuitable pattern of early rollovers of unit investment trusts (UITs). The findings stated that, on certain occasions, Bowman recommended that his customers roll over a UIT before its maturity date to purchase a subsequent series of the same UIT that generally had the same or similar investment objectives and strategies as the prior series. Bowman’s recommendations caused his customers to incur unnecessary sales charges and were unsuitable in view of the frequency and cost of the transactions. 14 Disciplinary and Other FINRA Actions September 2021 Bowman’s customers received reimbursement of these excess sales charges from his member firm in connection with FINRA’s separate settlement with the firm. The suspension is in effect from August 2, 2021, through November 1, 2021. (FINRA Case #2018056858102)

Precision Securities, LLC (CRD #103976, San Diego, California)

July 19, 2021 – An AWC was issued in which the firm was censured, fined $350,000 and required to retain an independent consultant to conduct a comprehensive review of the reasonableness of the firm’s policies, systems, procedures (written and otherwise) and training relating to compliance with FINRA Rule 3310 and the requirements of the Bank Secrecy Act and the regulations promulgated thereunder related to monitoring for, identifying, investigating, documenting and responding to red flags of suspicious activity. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to develop and implement an AML program reasonably designed to achieve and monitor its compliance with the Bank Secrecy Act and the implementing regulations thereunder. The findings stated that the firm did not tailor its AML program to reasonably monitor for and report suspicious activity in light of its business model. The firm lacked reasonable written AML procedures for the surveillance of potentially suspicious transactions in customer accounts. The procedures did not identify any exception reports and did not describe how or how frequently supervisors should use them. The firm’s AML procedures also did not contain any procedures about documenting any analyses or records regarding the investigation of potentially suspicious activity and the firm did not document the findings of its investigations. In addition, the firm relied almost exclusively on a manual review of the daily trade blotter to identify certain types of suspicious trading, even though it did not reflect canceled order data or patterns of trading across accounts or across multiple days. The firm’s manual review was unreasonable given the volume and complexity of the trading by its customers. The firm also had a practice of failing to reasonably respond to certain types of red flags of suspicious activity. The firm’s practice was to not file a suspicious activity report even after it found that the customer was engaging in transactions that were not the sort in which the firm expected the customer to engage. As a result of the firm’s failure to implement a reasonably designed AML program, it failed to timely or reasonably detect, investigate or respond to potentially suspicious activities by retail customers. (FINRA Case #2020067467601)

Juan Manuel Ceja (Indio, California)

July 1, 2021 – An AWC was issued in which Ceja was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Ceja consented to the sanction and to the entry of findings that he refused to cooperate with FINRA’s request for documents and information in connection with its investigation into allegations contained in his Uniform Termination Notice for Securities Industry Registration (Form U5). The findings stated that Ceja’s member firm terminated him over allegations that he falsified the electronic signatures of the firm’s insurance affiliate clients in order to renew term life insurance policies that had lapsed. Ceja received over $30,000 in advance commissions. (FINRA Case #2021070491301).

ATTENTION: REIT Investors Doing Business With Megurditch Mike Patatian

Megurditch Mike Patatian (CRD #4047060, Granada Hills, California) February 26, 2021 – Patatian was named a respondent in a FINRA complaint alleging that he made recommendations to customers to purchase non-traded real estate investment trusts (REITs) that were unsuitable because he lacked a reasonable basis to recommend the product to any investor. The complaint alleges that Patatian did not understand the basic features and risks associated with the non-traded REITs and failed to conduct reasonable diligence to understand the product. Some of Patatian’s customers also had liquidity concerns and thus his recommendation to purchase illiquid, non-traded REITs was further unsuitable due to each customer’s specific situation and needs. The complaint also alleges that Patatian caused customers to incur taxes and surrender fees by recommending that the customers surrender existing variable annuity policies when he failed to understand the adverse financial consequences of the surrenders. The complaint further alleges that Patatian recommended variable annuity exchanges that were unsuitable because he failed to understand the consequences of those exchanges, including the increased cost of the new variable annuities and the fact that a return of premium death benefit was not a standard feature of all variable annuities. In addition, the complaint alleges that without a customer’s knowledge or consent, Patatian impersonated the customer in a telephone call with an insurance company to obtain the contract value and surrender fee for the variable annuity. Moreover, the complaint alleges that Patatian recorded inaccurate customer information on his member firm’s customer account and disclosure forms, including by overstating customers’ net worth and exaggerating customers’ years of investment experience. (FINRA Case #2018057235801). Patatian has been associated with the following firms: SUPREME ALLIANCE LLC (CRD# 45348), WESTERN INTERNATIONAL SECURITIES, INC. (CRD# 39262) and CUSO FINANCIAL SERVICES, L.P. (CRD# 42132). For a copy of the FINRA complaint See, https://www.finra.org/rules-guidance/oversight-enforcement/finra-disciplinary-actions?search=2018057235801.

SEC Orders Robinhood Financial, LLC to Pay $65M Civil Penalty.

On April 16, 2021, the Securities and Exchange Commission entered an order stating that from 2015 through September 2018, Robinhood made material misrepresentations and omissions relating to its revenue sources, specifically its receipt of payment from certain principal trading firms, for routing Robinhood customer orders to them and relating to certain statements about the execution quality Robinhood achieved for its customers’ orders. The Commission also found that Robinhood’s customers received inferior execution prices compared to what they would have received from Robinhood’s competitors, caused in large part by the high payments for order flow resulting in Robinhood’s failure to satisfy its duty of best execution. The commission ordered Robinhood to pay a civil money penalty of $65,000,000. See, https://www.sec.gov/litigation/admin/2021/34-91590.pdf.

ATTENTION: 1inMM Capital, LLC Promissory Note Investors

The firm is offering free initial consultations to investors who purchased promissory notes issued by 1inMM Capital, LLC (“1inMM”)   

            On April 5, 2021, the Securities and Exchange Commission filed a complaint and jury demand against 1inMM and its managing member Zachary Horwitz (“Horwitz”) for allegedly raising over $690 million in a securities offering fraud and ponzi scheme.    According to the SEC’s complaint, Horwitz and 1inMM allegedly told investors that they were buying film rights, purportedly to resell them to Netflix and HBO when in fact 1inMM had no actual business relationship with either company.    See, https://www.sec.gov/litigation/litreleases/2021/lr25067.htm.

            Because securities regulatory actions brought the SEC and other securities regulators rarely result in victims being made whole, investors are encouraged to investigate for themselves potential third-party liability claims against the banks and other firms and individuals who may also be liable for investor losses.        

CHRISTOPHER KEVIN NICHOLS (CRD #2375174, REGISTERED PRINCIPAL, LAFAYETTE, CALIFORNIA)

Christopher Kevin Nichols (CRD #2375174, Registered Principal, Lafayette, California) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for 15 business days. The fine must be paid either immediately upon Nichols’ reassociation with a FINRA member firm following his suspension, or prior to the filing of any application or request for relief from any statutory disqualification, whichever is earlier. Without admitting or denying the findings, Nichols consented to the described sanctions and to the entry of findings that he engaged in a business activity outside the scope of his employment with his firm by lending money to and receiving interest payments from individuals who were clients of a sports agency Nichols’ brother owned and operated. The findings stated that the loans were made Disciplinary   and directly by Nichols to the borrowers or Nichols gave the loan amounts to his brother, who then disbursed the funds to the borrowers. Nichols failed to provide prompt written notice of these lending activities to his firm. The suspension was in effect from December 16, 2013, through January 7, 2014. (FINRA Case #2012034326801).

ALBERTO NEIRA (CRD #2658649, REGISTERED PRINCIPAL, IRVINE, CALIFORNIA)

Alberto Neira (CRD #2658649, Registered Principal, Irvine, California) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Neira consented to the described sanction and to the entry of findings that he failed to fully disclose outside business activities to his member firm. The findings stated that Neira disclosed to the firm that he was a passive investor in an entity but failed to disclose that he was also a director of the entity, holding positions over time or that he received compensation from the entity. Neira owned 55 percent of the entity’s common stock, and for his services he received a salary (of approximately $5,000 beginning in one year) and other compensation. The entity paid Neira $180,000 in compensation one year and more than $250,000 the following year. The findings also stated that Neira sold securities away from his firm when he made recommendations that resulted in more than $2 million in investments in the outside entity to some firm customers. These investments included stock and promissory notes. The sales were conducted privately and not through Neira’s firm. Neira failed to disclose these securities transactions to his firm. Neira also recommended preferred stock in the entity, which two customers purchased. The findings also included that Neira failed to respond fully and in a timely manner to FINRA requests for information. (FINRA Case #2011026089402)

http://www.finra.org/sites/default/files/fda_documents/2011026089402_FDA_TX109748.pdf

ATTENTION HOLDERS OF CANCELLED SANDRIDGE ENERGY, INC. SECURITIES

The investor rights law firm of Richard A. Nervig, P.C. has launched an investigation and is offering free initial consultations to preferred and common stock investors of Sandridge Energy, Inc. (“Sandridge”) whose shares are subject to cancellation. Sandridge filed for bankruptcy on May 16, 2016 in the U.S. Bankruptcy Court, Southern District of Texas, Case No. # 16-32488 and pursuant to the Amended Joint Chapter 11 Plan approved by the Court on October 4, 2016, preferred and common stockholders will have their interests cancelled.

On October 20, 2016, the Enforcement Section of the Massachusetts Securities Division filed an administrative complaint against a securities brokerage and broker alleging among other things that certain retiree investors had their brokerage accounts unsuitably concentrated in Sandridge stock. See, https://www.sec.state.ma.us/sct/current/sctspartanrevere/Spartan-10-20-16.pdf.

Stock interests like those issued by Sandridge are typically risky investments suitable only for the most risk tolerant individuals willing to accept a substantial loss on their investment. Retirees and other risk averse individuals are typically not suitable for such investments. If you were an investor in Sandridge securities now subject to cancellation and you purchased such based upon the advice and recommendation of a broker and/or brokerage firm and you believe the investment may not have been suitable for your investment needs and/or if you believe you were not provided all information necessary for you to make an informed investment decision, my firm would like to speak to you about your investments.

To learn more about your legal rights and remedies, please contact Richard A. Nervig (richard@nerviglaw.com) at 760-451-2300. If you email, please include your phone number.

FREE CONSULTATION
Toll Free Tel. (800) 837-0441

Email: info@nerviglaw.com

San Diego
655 West Broadway
Suite 1400
San Diego, CA 92101

www.nerviglaw.com

Stock Manipulation Scheme

(June 14, 2017, San Diego, CA) The securities fraud and elder financial abuse law firm of Richard A. Nervig, P.C. has launched an investigation on behalf of victims of the stock manipulation scheme involving shares of stock in National Waste Management Holdings, Inc. (“NWMH”), CES Synergies, Inc. (“CESX”), Grilled Cheese Truck (“GRLD”), Hydrocarb Energy Corporation (“HECC”) and Intelligent Content Enterprises, Inc. (“ICEIF”).

On July 12, 2017, the US Attorneys’ Office unsealed a nine-count indictment filed in federal court in Brooklyn, New York, against 14 defendants including San Diego resident Lawrence Isen and Tarzana California resident Robert Gleckman.

According to the indictment, between January 2014 and July 2017, the defendants, together with others, engaged in a $147 million scheme to defraud investors, including the elderly, in one or more of the following publicly traded companies: NWMH, CESX, GRLD, HECC, and ICEIF by artificially controlling the price and volume of traded shares in the Manipulated Public Companies through, among other things, (a) artificially generating price movements and trading volume in the shares, and (b) material misrepresentations and omissions in their communications with victim investors about the stock of the Manipulated Public Companies, relating to, among other things, the advisability of purchasing such stock.   The defendants also fraudulently concealed their control of shares of the Manipulated Public Companies that were held in brokerage accounts in the names of other individuals or entities.  See, Press Release, Department of Justice, U.S. Attorney’s Office, Eastern District of New York (7/12/2017).

Although the criminal prosecution of perpetrators of such schemes is certainly warranted, the harsh reality is that victims of such schemes more often than not receive little if any recovery of funds from the criminal prosecution.    Instead, most meaningful recoveries typically come from the pursuit of third party liability claims against the banks and/or brokerage firms who may have either aided and abetted the unlawful schemes and/or who negligently failed to detect and prevent such in the face of suspicious circumstances.

If you are an investor who has lost money purchasing one or more of the above stocks and are interested in learning more about your legal rights and remedies, please contact  Richard A. Nervig (info@nerviglaw.com) at (800) 837-0441 or (760) 451-2300. If you email, please include your phone number

Woodbridge Group of Companies, L.L.C.

PRESS RELEASE  

(December 5, 2017, San Diego, CA) The securities fraud and elder financial abuse law firm of Richard A. Nervig, P.C. has launched an investigation on behalf of note, equity holders and private placement investors of the Woodbridge Group of Companies, L.L.C..    

On December 4, 2017, the Woodbridge Group of Companies, L.L.C. (“Woodbridge”) and its affiliates filed for bankruptcy in the U.S. Bankruptcy Court for the District of Delaware.  See, In re: Woodbridge Group of Companies, L.L.C., U.S. Bankruptcy Court District of Delaware, Case 17-12560-KJC.  Woodbridge has been under formal investigation from the Securities and Exchange Commission (“SEC”) since September 2016 and which is looking at the company for potential violations relating to the offer and sale of unregistered securities, the sale of securities by unregistered brokers, and the commission of fraud in connection with the offer, purchase, and sale of securities.   According to the SEC, Woodbridge has raised more than $1 billion from several thousand investors nationwide through multiple investment offerings using various forms and structures.  See, SEC v. Woodbridge Group of Companies, LLC, U.S. District Court for the Southern District of Florida, Case 1:17-mc-22665-CMA  

Although the SEC’s investigation and action against Woodbridge is warranted, the harsh reality is that most securities and investment scheme victims usually receive little if any meaningful recovery of funds from such actions and/or from subsequent bankruptcy proceedings filed by the issuer of the securities. Instead, most meaningful recoveries for investors typically come from the pursuit of third party liability claims against the banks, brokers, brokerage firms and other financial service providers who may have either aided and abetted or assisted the unlawful schemes and/or who negligently failed to detect and prevent such schemes in the face of suspicious circumstances.       

If you are a Woodbridge note, equity holder or private placement investor and are interested in learning more about your legal rights and remedies, please contact Richard A. Nervig (info@nerviglaw.com) at (800) 837-0441 or (760) 451-2300. If you email, please include your phone number.  Also see our website at www.nerviglaw.com.  

655 West Broadway, Suite 1400 

San Diego, CA  92101

EV ENERGY PARTNERS, LP INVESTORS

(San Diego, CA) The investment loss recovery and securities litigation law firm of
Richard A. Nervig, P.C. is conducting an investigation and offering free initial
consultations to investors who purchased securities issued by EV Energy Partners, LP
(“EVEP”).
On April 2, 2018, EVEP and its affiliates filed a Chapter 11 petition in bankruptcy
in the U.S. Bankruptcy Court for the District of Delaware. According to EVEP’s own
attorneys, EVEP is “hopelessly insolvent” and equity holders of EVEP securities are not
entitled to anything. See, Case 18-10814- CSS, Doc. 93 Filed 04/12/18.
If you purchased EVEP securities based upon the advice and recommendation of
a securities broker or investment adviser you may have the right to recover your losses
from the firm, broker or adviser who sold you the investment.
Securities brokerage firms and investment advisers have a duty to recommend
only suitable investments to their customers and to further conduct reasonable due
diligence investigations regarding the issuer of any securities they recommended to
clients.
If you purchased EVEP securities from a securities broker or investment adviser
and you believe that your investment may not have been appropriate for you or if you
believe you were not informed of all the facts necessary for you to make informed
investment decision please call my office at (800) 837-0441 for a free consultation.

655 West Broadway, Suite 1400

San Diego, CA  92101

(800) 837-0441

www.nerviglaw.com