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Rex Securities Law-BLOG

Nationwide representation of victims of stockbroker fraud and the malpractice of investment professionals.

Rex Investigates Tenant in Common, TIC, 1031 Exchange Real Estate Investment Losses

Rex Investigates Tenant in Common, TIC, 1031 Exchange Real Estate Investment Losses 150 150 Rex Securities Law

Have you or your loved ones suffered losses as a result of purchasing Tenant in Common Real Estate Investments? We are investigating schemes involving the sale of private investments in real estate (office buildings,…

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E*Trade Establishes Hotline for Auction Rate Securities Investors

E*Trade Establishes Hotline for Auction Rate Securities Investors 150 150 Rex Securities Law

 The North American Securities Administrators Association (NASAA) announced establishment of  a toll-free hotline and website  to assist investors who purchased auction rate securities (ARS) through E*TRADE Securities LLC. Regulators and…

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FBI – Investment Fraud Big Business in South Florida

FBI – Investment Fraud Big Business in South Florida 150 150 Rex Securities Law
FBI Special Agent David Nanz recently offered some observations and advice about scams and frauds, based upon his time in the Miami field office. “If it seems too good to be true, it probably is”, words we have all heard but all too often fail to heed. According to Nanz, the most commonly seen schemes are: Ponzi and Pyramid schemes promising high rates of return with little or no risk. There is no legitimate underlying investment. The fraudster uses money from new investors to pay “profits” to later investors. Market Manipulation-Pump and Dumps as they are often called use deceptive practices to manipulate the price of a targeted security, usually an unknown penny stock, which is sold off by the fraudster after he has convinced others to run up the stock price. Beware of the broker who ‘cold calls’. Commodities Fraud-with gold at a recent high, it is no surprise we have seen so many frauds uncovered where business purport to be in the commodity business when they actually soliciting funds for a transaction that never occurs. We have been helping investors recover investment losses fo over 20 years. If you have questions, do not hesitate to … read more

Allen Stanford Guilty – Ponzi Scheme

Allen Stanford Guilty – Ponzi Scheme 150 150 Rex Securities Law
Texas financier Allen Stanford was convicted on 13 of the 14 counts for bilking investors out of $7 billion plus in one of the largest Ponzi schemes on record. The jury deliberated 4 days before finding him guilty of all charges but a single count of wire fraud. … read more

FINRA Claims Lerner Tried to Coverup Apple REIT Results

FINRA Claims Lerner Tried to Coverup Apple REIT Results 150 150 Rex Securities Law
On June 20, 2011, two class action suits were filed against David Lerner & Associates over its sales of Apple REITs, a family of real estate-based securities. This follows a recently filed complaint by the Financial Industry Regulatory Authority (FINRA) alleging that David Lerner Associates, Inc. has been misleading investors about the value of the Apple REIT Ten shares. Here is a link to the  FINRA Press Release about the first regulatory action against Lerner. Lerner’s company sold $6.8 billion of the securities into some 122,600 customer accounts. His company is a prominent advertiser on New York City radio, famous for its tagline, “Take a Tip from Poppy”, and in recent years has hosted seminars drawing hundreds of investors in the Boca Raton, FL area. In December 2011, FINRA sued Lerner again, this time amending the prior complaint against Lerner’s company and this time naming him individually, for statements he made in an attempt to quell anxious customers who had reason to be concerned about their investments since two class actions and a regulatory action were filed questioning the value of the investment. … read more

Behringer Harvard-Want to Sell Your Shares?

Behringer Harvard-Want to Sell Your Shares? 150 150 Rex Securities Law

Cheap? I mean really cheap. According to the Investment News, there have recently been a couple of unsolicited tender offers for Behringer Harvard Short-Term Opportunity Fund I, a limited partnership…

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Exchange Traded Funds-Use Caution

Exchange Traded Funds-Use Caution 150 150 Rex Securities Law

Exchange-traded funds (ETFs) have become very popular over recent years and many investors are led to believe they are conservative and risk free. This is not always the case. An…

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Brookstreet- Risky CMO’s Lead to $10MM Fine

Brookstreet- Risky CMO’s Lead to $10MM Fine 150 150 Rex Securities Law

The SEC’s case against the former CEO of Brookstreet Securities Corp., Stanley C. Brooks, has led to a fine of 10 million dollars. A federal judge recently entered this penalty,…

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Securities & Exchange Commission Warns Investors to be Wary of Unauthorized Trading In Stock Brokerage Accounts

Securities & Exchange Commission Warns Investors to be Wary of Unauthorized Trading In Stock Brokerage Accounts 150 150 Rex Securities Law
The SEC recently released an alert telling brokers and investment advisers to pay closer attention to unauthorized trading in customer accounts. In the risk alert issued by the nation’s top securities watchdog, the SEC says firms should watch for: Changes in trading patterns High volume of trade cancellations or corrections Manual trade changes Unexplained profits for a particular broker Rogue trades Trades that exceed risk tolerance for a … read more