Tag Archives: stockbroker negligence

Mark Malik Indicted In New York- Charged with Securities Fraud

February 15, 2015- Long Island, New York

Mark Malik (aka Moazzam Ifzal Malik) age 33, of Lahore Pakistan, was indicted and charged with stealing over $250,000 from five investors in connection with a purported hedge funds Seven Sages Capital, Wall Street Creative Partners, American Bridge Investments and Wolf Hedge , according to N.Y. Attorney General Eric T. Schneiderman. 

Victims are located in New York, Florida, Texas, Canada and Switzerland. Here is a link to Malik’s website. 

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

SEC Files Fraud Complaint vs. Roger Bliss and His Investment Club

UPDATE January 2016Bliss to serve a year and a day in federal prison for trying to corruptly influence and obstruct the administration of justice in the SEC case.  See Department of Justice release. 

February 13, 2015-Bountiful, Utah

The U.S. Securities and Exchange Commission (SEC) filed a complaint against Roger Bliss, Roger Bliss and Associates Equities, Roger Bliss and Associates Club and Bliss Club LLC alleging the operation of a fraudulent day-trading scheme trading Apple stock.

The SEC complaint states that while Bliss claims to have tremendous success trading Apple stock, making 100%-300%, he actually lost over $3 million from 2012-2015, and his trading account has only about $32,000 in it.

The complaint lists numerous alleged misrepresentations, including the following:

  • Bliss claims his ‘club’ has over $300 million of which $260 million is his
  • Bliss claims to have never had a trading day where he lost money in the last six years
  • Bliss claims one couple started with $300,000 six years ago and now has between $20 and $30 million as a result of his trading
  • Bliss guarantees to investors that he will indemnify all club members for any loss to principal.

The SEC alleges that Bliss used falsified documents to conceal his scheme and is seeking an injunction, civil penalties and a disgorgement of ill gotten gains.

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 

Andrew Avery- New Day Atlanta Founder- Arraigned on Fraud Charges

February 11, 2015-Atlanta, Georgia

The Federal Bureau of Investigation (FBI) announced Andrew Avery, who operated New Day Atlanta which sold purported Real Estate Investment Notes (REINs) was arraigned on charges of wire fraud and mail fraud. Avery was indicted in October 2014, fled the country and was recently extradited from Thailand.

The REINs sold by New Day Atlanta purportedly were promissory notes earning 13% with maturity dates of 1 to 5 years. The Magnolia Fund was a purported $6 dollar portfolio Atlanta property that was part of 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

Former Legend Equities Broker Jeffrey Chancy Sanctioned by Securities Regulator

February 11, 2015

Jeffrey Irvin Chancy  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he refused to appear for on the record testimony in a FINRA investigation into whether Chancy had engaged in an unapproved outside business activity and/or engaged in an unapproved private securities transaction.

Chancy was barred from association with any FINRA member in any capacity.

FINRA Case # 2014043629801

FINRA records indicate that Chancy was registered with Legend Equities Corporation in Savannah, Tennessee, from 11/2006-1/2015.

Legend Equities Corporation was formed in 1992, is registered in 52 states and territories and has its main office  in Palm Beach Gardens, Florida.

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