Central Oregon Reports Increase In Elder Abuse-Financial Exploitation of Seniors

October 30,2014- The Bulletin, a news service serving Central Oregon, reports a 30% increase in elder abuse complaints since 2012 according to the Oregon Office of Adult Abuse Prevention and Investigations.

 

Financial exploitation was the most commonly reported type of abuse and accounted for 42% of he substantiated abuse complaints.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Three Sentenced/Two Indicted-Florida Tax Refund & Identity Theft Schemes

October 28, 2014-Pensacola, FL – In a press release from the FBI, Pamela March, US Attorney for the Northern District of Florida announced the sentencing of three individuals to federal prison:

  • Rex E Robinson, 29, of Cantonment, Florida-75 months after he pled guilty to mail fraud and aggravated identity theft stemming from a scheme to defraud the IRSby filing over 100 false tax returns using other people’s identities
  • Ariyanna S. Lampley (previously Schuyler J. Nickerson), 32, of Pensacola, FL-75 months after she pled guilty to theft of government money and aggravated identity theft.
  • Brian Richardson, 28, of Cantonment, FL, -12 months and one day after he pled guilty to aggravated identity theft. Richardson stole personal identifying information of over 40 elderly hospital patients and provided it to Robinson.

A federal grand jury indicted Richard J. Beverly II, 25, and Andrey C. Cook, 33, both from Pensacola, FL, on mail fraud and aggravated identity theft in a related but separate case involving false tax returns and tax refunds.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Paul Burks Indicted For Zeek Rewards Scam

October 28, 2014-Triad- Paul Burks, 67, of Lexington was indicted last week on multiple fraud counts related to the Zeek Rewards pyramid scheme, which may become the largest pyramid scheme in US history.

The scheme may have bilked $750 million worldwide. According to the US Department of Justice Burks and his cohorts enticed investors knowing that the business could not be sustained and Burks diverted over $10 million to himself.

At one point Burks and his fellow conspirators claimed that investors would be guaranteed 125% returns. Officials have described Zeek Rewards as the classic Ponzi scheme where early investors are provided with distributions funded by later investors to give the appearance of a legitimate business. Burks faces up to 65 years and fines.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Fox Business Warns of Insurance and Annuity Scams

October 28, 2014- In a recent article on the Fox Business website, investors are warned to be wary of life insurance products, especially annuities. According to the article, which can be accessed here: 

  • Agents know how to manipulate the products and sales pitches to their favor and have the incentive of learning large commissions on the sale of these products
  • Consumers should be wary of the ‘fake insurance company’ and make sure they are dealing with a legitimate insurance company.
  • Consumers need to beware of ‘annuity twisting’ or ‘annuity churning’ which occurs when a broker convinces you to sell an existing annuity and purchase a new one.

If you have questions about an investment in an annuity that you think is unsuitable call to speak with an experienced securities attorney.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

City of Dallas/AARP to Host “Scam Jam” Friday November 14, 2014

The City of Dallas Senior Services Program and AARP Texas are hosting a community seminar on ID theft and fraud prevention, “Scam Jam” on Friday November 14th, 9am-Noon, at the Marcus Recreation Center, 3003 Northhaven Road, Dallas, TX 75229.

Scam Jam 2014 aims to help members of the public protect themselves and their family against scammers. Participants in Scam Jam 2014 event will include representatives of the Dallas Police Department and the Senior Source Elder Financial Safety Center. The event will include information on AARP’s Fraud Watch Network.

The event is free and open to the public. Refreshments will be served. Call 1-877-926-8300 to register.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Brian Alfaro & Companies Sued for Fraud-San Antonio, TX

October 29, 2014-San Antonio, TX– The San Antonio Express-News  reports that Brian K. Alfaro, a local businessman, has been sued by Benito Hernandez who seeks over $1 million from Alfaro and his companies Primera Energy, LLC, Alfaro Oil and Gas LLC and Alfaro Energy LLC.

The suit, which is filed in Bexar County District Court, alleges that the defendants provided exaggerated production estimates and unrealistic projected investment returns.

In April 2011, FINRA (the Financial Industry Regulatory Authority) suspended Pinnacle Partners Financial Corporation and Alfaro, who was its then President, for failure to comply with a FINRA Temporary Cease and Desist Order prohibiting their fraudulent misrepresentations. A complaint filed by FINRA alleged that Alfaro and Pinnacle operated a boiler room operation where brokers placed thousands of cold calls weekly soliciting investments in oil and gas ventures.

FINRA is the largest independent regulator for all securities firms doing business in the United States.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Aubrey Price, Ponzi Schemer Who Faked His Own Death Sentenced to 30 Years in Prison

The FBI announced that Aubrey Lee Price, 48, was sentenced in Statesboro federal court to 30 years in federal prison for perpetrating a Ponzi scheme that resulted in millions in losses and the failure of a federally insured bank.

Price, a demonstrative Christian, had been a pastor at a small Baptist Church in Griffin, Georgia, then at Clear Springs Baptist Church in Johns Creek. Many of the victims of his $50 million Ponzi scheme were fellow church members.  He ran an investment firm PFG and then was a director and MB&T bank where he embezzled tens of millions.

 

After things started to fall apart Price sent our “suicide letters’ to friends announcing that he would kill himself by jumping from a high speed ferry in Key West, FL. After he disappeared, the Coast Guard spent time looking for him and about a year later in December 2013, he was arrested during a routine traffic stop in Brunswick, GA.  Price was last registered as a broker with FSC Securities Corp, in January 2008.

Here is a link to a more detailed story about Price from the Atlanta magazine.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900