Tag Archives: texas securities fraud lawyer

Cardinal Energy Group Investors May Have Been Misled & Have Claims for Recovery

May 2019 – Dallas, Texas

In March 2019, the Securities and Exchange Commission charged Texas based Cardinal Energy Group (CEGX) and former CEO Timothy W. Crawford with fraudulently concealing the loss of the company’s major source of revenue. SEC v Timothy W. Crawford, et al , No 19-civ-1022 (S.D. Ohio). 

According to the SEC complaint, Cardinal lost control of its interest in two oil and gas leases that accounted for nearly all of the company’s revenue, however, rather than disclosing this event to investors Cardinal and Crawford misrepresented the fact that the leases were still expected to be a part of the company’s future business.

Cardinal and Crawford are charged with various violations of the Securities Acts of 1933 and 1934 and the complaint seeks injunctions, disgorgement, civil penalties and a penny stock bar.

Financial advisors and brokerage firms are required to make suitable recommendations to investors, taking into account the age, health, net worth and risk tolerance of the individual.

If you have suffered losses on an investment in Cardinal Energy Group as a result of the recommendation of your financial advisor, contact us for a no charge consultation to learn about your legal options for recovery of damages.

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

Scott Klor-Former LPL Financial Advisor-Discloses Regulatory Suspension and Discharge from Employment-Baton Rouge, LA

May 2019 – Baton Rouge, LA

According to publicly available records, former LPL Financial financial advisor Scott P. Klor discloses a recent regulatory event and a termination from employment.

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 4/2019, FINA suspended Klor for 14 months and assessed a fine of $5,000 to resolve allegations that Klor solicited investors, including customers of LPL FInancial, to purchase a variable life insurance policy on the life of an elderly individual, an investment prohibited by LPL firm policy. The $1.4 million investment was structured as a viatical settlement and Klor was to receive a 4% interest for structuring the deal.

In 4/2017 Scott Klor was discharged by LPL Financial, where he had been employed since 3/2011, for violation of firm policy.

If you have questions about an investment account handled by Scott P. Klor  contact us for a no charge consultation to learn about your legal options for recovery of damages.

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

Losses on UBS Yield Enhancement Strategy? (UBS YES)- How to Recover Damages

May 2019

Investors who have suffered losses as a result of investing in the UBS Yield Enhancement Strategy program (UBS YES Trading Program) may be able to recover damages through FINRA arbitration.

The Yield Enhancement Strategy was offered by UBS to high net worth investors and touted as an option based trading strategy designed to generate returns by the sale and purchase of SPX index option spreads.

Recently investors in the UBS YES trading program have experienced significant losses and may be facing margin calls or the requirement to put up additional collateral.

We are currently investigating whether the risks associated with investing in the UBS YES program were adequately disclosed and whether the recommendation to invest in the program was suitable for certain investors.

If you have losses on the UBS YES trading program and believe that the risks were not adequately disclosed to you or that the recommendation was not suitable for your investment objectives, we may be able to help you recover damages.  Call for a no obligation discussion of your options with an experienced securities attorney.

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

Ex-Pat With Losses in Your U.S. Brokerage Account? How to Recover Damages.

April 2019

If you are an expat residing in Japan, Thailand, Mexico, United Kingdom, Europe, Australia, the Caribbean, South America, Costa Rica or anywhere else on the planet, and have suffered losses in your U.S. brokerage account, we may be able to help you recover damages.

Disputes with brokerage firms for financial advisor negligence and fraud are generally pursued in arbitration with the Financial Industry Regulatory Authority (FINRA). Unlike court litigation, FINRA arbitration generally is much quicker and far less costly than court litigation.

Cases are typically concluded in 18 months or less and unlike court litigation, you generally do not need to be present in the States until the time of the final hearing or settlement conference. In some situations we you may be able to resolve your case without travelling to the U.S.

Most cases are handled on a contingent fee basis meaning that you only pay if we are successful.

Over the years we have represented expats from all over the world, including Mexico, San Salvador, Chile, Europe, United Kingdom, and the Channel Islands.

If you have losses due to unsuitable recommendations or the negligence of your financial advisor , call for a no obligation opportunity to learn about your options for recovery of damages.

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

Stacey Sanders Sentenced to Federal Prison on Bank Fraud Charge-Fredericksburg, TX

February 2019-Fredericksburg, TX

A federal judge in San Antonio has sentenced 52-year-old Stacey A. Sanders of Fredericksburg, TX,  to 27 months imprisonment.  The former office manager of Memorial Presbyterian Church, located in Fredericksburg was sentenced  for bank fraud after she was caught writing and signing unauthorized checks on the church’s bank accounts.

Along with her prison term, U.S. District Judge Xavier Rodriguez has ordered Sanders to pay more than $400,000 in restitution.   She will pay $20,219  to Security State Bank and $400,087 to Memorial Presbyterian Church.  She will also be placed on supervised release for 5 years following her sentence.

 To conceal her activity, Defendant wrote various false statements on the checks’ memo line, such as “social security offset,” “additional payroll,” or “cleaning supplies.”

“It’s hard to believe that this has to be said, but stealing from houses of worship is really, really wrong.  When you defraud a bank to do it, it can become a federal case,” stated U.S. Attorney Bash.

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