Tag Archives: stockbroker malpractice

Evansville Investment Adviser Sentenced to Two Years for Fraud

Warrick, Co., Indiana- WFIE, Channel 14 News reports that Lynn Simon of Evansville was sentenced to two years in prison after pleading guilty to several counts of fraud in the offer, sale of purchase of a security.  His victims lost in excess of $100,000. Simon operated two companies, the Insurance Shoppe and Financial Security Planning.

Simon fled to Alabama and then to Mexico before finally turning himself in. In addition to serving prison time he will also serve 8 years work release and be required to pay restitution.

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

Kentucky/Tennessee Oil Well Scammers Indicted

September 26, 2014- Nashville, TN

The US Attorney, Eastern District of Kentucky issued an indictment of John G. Westine, Jr. of Malibu, California and Michael Hicks of Cincinnati, Ohio for selling $4 million interests in a purported oil deal on a  100 acre farm in Tompkinsville, KY. Westine has previously served time for a similar scheme.

The companies include Clementsville Oil, JMack Energy, Royal Leasing, Royal Energy Leasing, Midwest Leasing, Marathon Royalties, Liberty Oil Leasing and Three Star Leasing. Investors were told that a $70,000 investment could yield $3,600 a month.

Link to Better Business Bureau press release. 

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

Florida Man Ordered to Pay $1.2M by Arizona Securities Regulators

November 5, 2014- The Arizona Corporation Commission Securities    Division found Karl Henry Rehberg of Florida, also known as Shawn Pierce, Randall Duane Simonson of Scottsdale, AZ , and Seed Corporation liable for securities fraud in connection with the sale of a promissory note and stock.

Simonson and Seed Corp, while not registered to offer or sell securities in Arizona, raised $1.6 million to develop an energy efficient storage facility in Mesa, AZ. Rehberg, fleeing from a $20 million securities fraud in Florida, misrepresented his identity to investors conceal his criminal past , and was also not registered to offer or sell securities in Arizona.

Rehberg was ordered to pay restitution of $1.2 million and assessed a fine of $50,000.

The Commission’s order can be viewed here. 

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

$50 Million Apostelos Ohio Ponzi Scheme

November 1, 2014-Dayton, Ohio—Various press sources are reporting a $50 million ponzi scheme in Dayton Ohio.

According to WHIO-TV, William and Connie Apostelos of Springboro are named in an FBI seizure warrant as the masterminds of a pyramid scheme that may involve 200 victims.

The FBI asks anyone who has invested with Apostelos to call 937-222-7485 or Springboro Police at 937-748-0611.

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

Florida Securities Regulators Fine South Florida Men for Boiler Room Operation

Tallahassee-10/28/2014- The Florida Office of Financial Regulation issued a cease and desist order and assessed fines of over $1.5 million against Richard V. Morello, Jr. and Junior L. Alexis for operating a fraudulent precious metals investment scheme.  Both were permanently barred from the securities industry in Florida.

The two operated Vertical Integration Group and Churchill Clearing Corp.

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