Category Archives: Theft

Ponzi Schemes, Securities & Exchange Commission (SEC), Stockbroker Malpractice, Theft

Rhino Capital Group Investment Losses? How to Recover Damages.

November 2018

We are investigating options for recovery of damages for investors who may have suffered losses on the following :

  • Global Credit Recovery
  • Delmarva Capital
  • DeVille Asset Management
  • Rhino Capital Holdings
  • Rhino Capital Group
  • Riverwalk Financial Corp.

The U. S. Securities & Exchange Commission has charged the following individuals with operating a Ponzi scheme that raised over $345 million from investors who believed they were investing in a business that collected and resold consumer debt:

  • Kevin B. Merrill                              Towson Maryland
  • Jay B. Ledford       Westlake, TX & Las Vegas, NV
  • Cameron R. Jezierski                      Fort Worth, TX

According to the SEC complaint, the more than 230 investor/victims include small business owners, restaurateurs, construction contractors, retirees, doctors, lawyers, accountants, bankers, talent agents, athletes and financial advisors.

Instead of using the investor funds as promised, the individual defendants stole much of it and used it to fund their lavish lifestyles which included:

  • A Ferrari costing $368,000
  • A seven carat diamond ring costing $330,000
  • $13 million paid to casinos
  • $10 million on high end cars (Bugatti, Rolls Royce, Lamborghini and others)
  • A private jet costing $500,000

If you are a victim of this fraud, contact us for a no charge consultation to learn how you may be able to recover damages for your losses.

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

Failure to Supervise, Fraud, Stockbroker Malpractice, Theft, Unsuitable Investments

How to Recover Losses on Behavioral Recognition Systems (BRS Labs) now known as Giant Gray-Houston, TX

October 2018-

The SEC has charged Houston based Behavioral Recognition Systems (now known as Giant Gray) and its CEO Ray C. Davis with soliciting over $28 million from investors and then diverting nearly $8 million for the former CEO’s personal benefit.

Investors were led to believe that their funds would be used only for working capital and to pay Davis a nominal salary. Instead BRS and Davis diverted funds using fake invoices and the funds were used to purchase antiques and to pay for jewelry, gold and fund the personal accounts of Davis and his wife.

If you made an investment in BRS through a licensed broker or financial advisor we can help you recover damages for your losses.

We do not charge to evaluate your case and we handle our cases on a contingent fee basis.

Call now for a no charge consultation to discuss your options for recovery.

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

Corecap Investments, Failure to Supervise, Fraud, Stockbroker Malpractice, StockBroker Misconduct, Theft

Holly Maurer- Corecap Investments Broker-Discloses Settlement of Several Customer Disputes-Southfield, MI

October 2017 – Southfield, MI

According to publicly available records Holly M. Maurer  (CRD#2764991) , a  stockbroker who is registered with Corecap Investments , disclose 5 prior  customer disputes.

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 a recently resolved matter, filed in August of 2017, a customer of Corecap Investments, sought damages of $110,000 alleging that broker acted as their representative when their prior representative was suspended and for breach of fiduciary duty in the handling of their account. That case was settled for $75,000.

In FINRA case 18-0859, a customer of CoreCap Investments alleged that registered representative Ernest Romer stole money from her and that Maurer knew of or participated in theft. That case was settled for $110,000 in 8/2018.

In FINRA case 18-0198, a customer of CoreCap Investments alleged that they loaned money to a since terminated broker which he did not pay back. They alleged fraud, embezzlement and violations of the securities laws against the broker and his supervisor.  That case was settled for $150,000 in 8/2018.

In FINRA case 17-2795, a customer of CoreCap Investments , Leonard & Co. and L.M. Kohn alleged that another broker who worked with Maurer stole money and that Maurer ‘materially aided’ the conduct.  That case was settled for $115,000 in 8/2018.

Maurer  has been employed by Corecap Investments since October of 2012.

If you have questions about an account handled by Holly Maurer  contact us for a no charge consultation to discuss your options.

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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Department of Justice, Theft

Dallas Area Couple Indicted for Embezzling $14.5 Million From Retirement Accounts

October 2018-Red Oak, Texas

Jeffrey Richie, 53, and his wife Wendy Richie, 58, of Red Oak, TX, (a suburb south of Dallas) were indicted for conspiracy, theft from an employee benefit plan, wire fraud and aggravated identity theft. An indictment filed in the Northern DIstrict of Texas alleges that they embezzled $14.5 million from retirement accounts. If convicted on all counts, the Richies face up to 81 years in federal prison.

According to the indictment, the RIchies operated Vantage Benefits Administration which served as third party administrator for dozens of retirement funds and 401(k)s. Ms. Richie submitted fraudulent distribution requests to the retirement fund custodian, Matrix Trust Co. Upon receipt of the funds, rather than depositing into the beneficiaries accounts, the Richies used the funds for the Vantage payroll and expenses as well as personal expenses for their farm and home.

An indictment is a formal accusation of criminal conduct, not evidence. Defendants are presumed innocent unless convicted.

LInk to Department of Justice press release.

Rex Securities Law, with offices in Boca Raton, FL  and Austin, TX, provides representation to investors nationwide who are seeking recovery from 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 are handled on a contingent fee basis meaning that you do not play legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

Toll Free: 877-224-3199

Florida:  561-391-1900

Texas:  512-329-2870

FINRA, Finra Investigation of Stockbroker, Fraud, Stockbroker Malpractice, StockBroker Misconduct, Theft, UBS

Alex G. Herrera-Former UBS Broker-Accused of Stealing Client Money to Buy Vacation Home-Coral Gables, FL

August 2018 – Coral Gables, FL

According to FINRA records,  Alex Herrera,   a former stockbroker who  last worked for USB Financial Services,  discloses 2 prior regulatory events and a current 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 August of 2018, without admitting or denying the findings, Herrera  consented to sanctions and entry of findings that while employed by USB Financial Services,  he refused to provide information requested by FINRA in connection with its investigation of his possible participation in unreported outside business activities and private securities transactions.    Herrera was permanently barred from the securities industry.

In May of 2018, a UBS customer alleged that Herrera had stolen her money to buy a vacation home.  That matter is currently pending and the damage amount is not stated.

If you have losses in an account handled  Alex G. Herrera, call for a no charge consultation to learn about your legal options for recovery.

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