Category Archives: Fraud

Energy Securities, Failure to Supervise, Fraud, Oil & Gas Investment, Stockbroker Malpractice, Unsuitable Investments

Cardinal Energy Group Investors May Have Been Misled & Have Claims for Recovery

May 2019 – Dallas, Texas

In March 2019, the Securities and Exchange Commission charged Texas based Cardinal Energy Group (CEGX) and former CEO Timothy W. Crawford with fraudulently concealing the loss of the company’s major source of revenue. SEC v Timothy W. Crawford, et al , No 19-civ-1022 (S.D. Ohio). 

According to the SEC complaint, Cardinal lost control of its interest in two oil and gas leases that accounted for nearly all of the company’s revenue, however, rather than disclosing this event to investors Cardinal and Crawford misrepresented the fact that the leases were still expected to be a part of the company’s future business.

Cardinal and Crawford are charged with various violations of the Securities Acts of 1933 and 1934 and the complaint seeks injunctions, disgorgement, civil penalties and a penny stock bar.

Financial advisors and brokerage firms are required to make suitable recommendations to investors, taking into account the age, health, net worth and risk tolerance of the individual.

If you have suffered losses on an investment in Cardinal Energy Group as a result of the recommendation of your financial advisor, contact us for a no charge consultation to learn about your legal options for recovery of damages.

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

FINRA, Fraud, Securities & Exchange Commission (SEC), Stockbroker Malpractice, Unsuitable Investments

Ex-Pat With Losses in Your U.S. Brokerage Account? How to Recover Damages.

April 2019

If you are an expat residing in Japan, Thailand, Mexico, United Kingdom, Europe, Australia, the Caribbean, South America, Costa Rica or anywhere else on the planet, and have suffered losses in your U.S. brokerage account, we may be able to help you recover damages.

Disputes with brokerage firms for financial advisor negligence and fraud are generally pursued in arbitration with the Financial Industry Regulatory Authority (FINRA). Unlike court litigation, FINRA arbitration generally is much quicker and far less costly than court litigation.

Cases are typically concluded in 18 months or less and unlike court litigation, you generally do not need to be present in the States until the time of the final hearing or settlement conference. In some situations we you may be able to resolve your case without travelling to the U.S.

Most cases are handled on a contingent fee basis meaning that you only pay if we are successful.

Over the years we have represented expats from all over the world, including Mexico, San Salvador, Chile, Europe, United Kingdom, and the Channel Islands.

If you have losses due to unsuitable recommendations or the negligence of your financial advisor , call for a no obligation opportunity to learn about your options for recovery of damages.

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

Fraud, Market Manipulation, Penny Stocks, Penny Stocks, Securities & Exchange Commission (SEC), Spartan Securities Group

Spartan Securities Group Named in SEC Regulatory Action Over Penny Stocks-Clearwater, FL

February 2019-Tampa, FL

The U.S. Securities & Exchange Commission (SEC) issued a litigation release on 2/21/2019 charging Spartan Securities Group, Ltd. , Island Capital Management, LLC, Carl E. Dilley, Micah J. Eldred and David D. Lopez for their roles in the creation “blank check” companies from 2009-2014.

The complaint alleges that Spartan Securities Group filed fraudulent applications with the Financial Industry Regulatory Authority to publicly list the companies so that the shares could be traded to public investors.

According to the release Dilley and Eldred, who are both principals of Spartan Securities, signed the false applications even though they knew or were at least reckless that the companies were fake.

The SEC is seeking to bar Spartan Securities Group from participating in penny stock offerings in the future.

Spartan Securities Group, Ltd.  is headquartered in Clearwater, Florida. They are registered in 38 U.S. States and territories and have been a member of FINRA since 2001. According to FINRA records they have been the subject of 10 prior regulatory actions.

If you have questions about an account at Spartan Securities Group, call for a no charge consultation with an experienced securities attorney.

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

Cold Calling, Failure to Supervise, Fraud, Misrepresentation, Raymond James, Stockbroker Malpractice, StockBroker Misconduct, Unauthorized Trading, Unsuitable Investments

William Biegel-Former Raymond James Broker- Discloses Settlement of Customer Dispute-Houston, TX

January  2019- Houston, TX

According to publicly available records ,   William Herman Biegel (CRD#1301825)  a  stockbroker previously employed by Raymond James & Associates, discloses the recent settlement of a customer dispute.  

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In March 2016, a customer of Raymond James & Associates, Inc., filed FINRA Case 16-0063 alleging  that from 6/2013-9/2015 Biegel over concentrated their account, was negligent, made unsuitable recommendations , committed  common law & statutory fraud, violated federal securities laws, churned their account, traded without their authority and violated Texas securities laws. The case was settled for $245,000.

Biegel was employed by Raymond James   from May 1997 until December 2017.   He is currently not registered as a stockbroker.   

If you have losses in an account in an account handled by  William Biegel, contact us for a no charge consultation to learn how you may be able to recover damages from his employer through FINRA arbitration.

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

Cryptocurrency, Department of Justice, FBI, Fraud

Jared Rice, Sr. Indicted on Cryptocurrency Fraud-Fort Worth, Texas

November 2018-Fort Worth, Texas

The U.S. Attorney’s Office for the Northern District of Texas announced the arrest of Jared Rice, Sr. who is charged with defrauding hundreds of investors out of more than $4 million in a cryptocurrency scheme.

According to the Department of Justice press release, Rice lied when he told investors that AriseBank could offer consumers FDIC-insured accounts and traditional banking services, including Visa credit cards, in addition to cryptocurrency services.

Rice, who is charged with three counts of securities fraud and three counts of wire fraud, purportedly used the investor funds for his own personal use, faces up to 120 years in prison, if convicted.

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