Tag Archives: recover investment losses

Phil Williamson Charged in South Florida Securities Fraud

June 1, 2015

Phil D. Williamson, 48, of Miami, Florida, was charged with investment advisor fraud according to an FBI Press Release which reports that he raised over two million dollars from 17 individuals who were led to believe he worked for a nationally recognized financial services firm.

Williamson deposited the victims money in bank accounts in the name of two companies he owned, Sterling Investment Fund and Sterling Financial Partners. Investors were led to believe they would be investing in real estate in Florida and Georgia. He concealed the fraud by issuing false statements and in classic Ponzi scheme style, by paying early investors with money received from new investors.

In a parallel action the SEC charged him with securities fraud and other violations. Williamson agreed to settle those charges and is liable for over $700,000 in disgorgement.

The victims include retired teachers and law enforcement officers who sought safe investments for their retirement savings.

According to FINRA records, Williamson previously was registered with the following firms:

  • Hartford Equity Sales Company
  • OneAmerica Securities
  • MML Investor Services
  • AXA Advisors

If you suffered losses in an account handled by Williamson, you may be able to recover damages from the firm that employed him. Call 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Texas Lawyer Found Guilty of Stock Fraud Involving ConnectAJet.Com

June 1, 2015

A federal jury in the Northern District of Texas found Martin Cantu, a lawyer from Round Rock, Texas, guilty of two criminal charges in connection with an alleged conspiracy to deceive potential investors about the business of Connect-a Jet, according to an FBI Press Release.

Cantu and co-defendant Jason Wynn were charged in a 2013 indictment alleging that they conspired to issue public statements and ads about Connect-a-Jet that contained sales and misleading statements designed to increase demand for the company’s stock. Cantu made over $500,000 in profit on the stock and Wynn made over $2.5 million profit.

According to the release, Wynn, a stock promoter from Lantana, Texas, pleaded guilty in April 2015, to a conspiracy charge and is awaiting sentencing.

Cantu faces 5 years on one of the counts and 20 years on the other.

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

Fourth Person Found Guilty in Kentucky Oil Investment Scheme

June 1, 2015

Henry Irving Ramer was found guilty by a federal jury of operating a multi-mllion dollar investment scheme in which over 200 investors nationwide lost all or nearly all of their investment.

Ramer, who worked out of Los Angeles, led victims to believe they were investing in oil and gas drilling in Kentucky. Ramer is the fourth person convicted in the scheme.

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

Plano Texas Businessman Sued by SEC-Fraudulent Oil & Gas Deals

June 1 , 2015-Murphy,  Texas

The Securities and Exchange Commission sued Sameer Praveen Sethi and his company Sethi Petroleum alleging that since January 2014, Sethi and his company raise $4 million by selling a fraudulent offering in Sethi-North Dakota Drilling Fund-LVIII.

Investors were told that 70% of the funds acquiring working interests in the Bakken Shale formation in North Dakota. In reality, less than 25% was actually invested, according to the SEC.

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

Frank Dettenrieder, Former First Allied Securities Broker-San Miguel de Allende, Investigated by Rex Securities Law

June 1, 2015-San Miguel de Allende, Mexico 

Rex Securities Law is investigating Frank Nicholas Dettenrieder who was formerly a stock broker with First Allied Securities from December 2008 until July 2013 when he was discharged from First Allied Securities for exercising discretion in customer accounts without written authorization.

His official FINRA records  show that Dettenrieder was suspended by FINRA in July 2014 for exercising discretion in six customer accounts. In addition he has been named in several customer complaints including one case in which the customer received an award of $239,000 against his employing firm in an arbitration alleging that investments they were sold were unsuitable.

We are investigating Dettenrieder on behalf of a retiree residing in San Miguel de Allende, Mexico, who believes the account was mishandled.

If you have information related to this matter, we would appreciate hearing from you. If you have losses in an account handled by Frank Dettenrieder you may be entitled to recover damages from his employer. Call to discuss your options.

First Allied Securities was formed in 1994, has 1,000 financial advisors in 500 branch offices. First Allied, like all brokerage firms in the United States is licensed by the Financial Industry Regulatory Authority (FINRA).

First Allied Securities also conducts business under the following names:

  • Advanced Equities Wealth Management Private Client Services
  • First Allied
  • First Allied Wealth Management
  • Greenbook Financial Services

In 2013 FINRA charged First Allied with having inadequate procedures regarding the delivery of prospectuses in connection with the sale of Exchange Traded Funds (ETF) and Unit Investment Trusts (UIT). They paid FINRA a fine of $40,000 to resolve the matter. In 2010 the SEC charged First Allied with failure to supervise a broker who made unsuitable recommendations and churned customer accounts over a two year period and who also engaged in unauthorized trading. To resolve the matter First Allied paid fine and restitution of $500,000.

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