Securities Fraud Lawyers Blog

Do you need a Tampa chapter 7 lawyer? Contact us today!

Published on: September 11, 2015 | by Savage Villoch Law, PLLC

It happens: you run into a bit of financial difficulty, and you need to file Chapter 7 bankruptcy. If you’re in the Tampa area of Florida, you will need to hire a Tampa chapter 7 lawyer to represent your best interests immediately!

Chapter 7 bankruptcy is known as the “fresh start” bankruptcy, because it wipes out all your debts and gives you a chance to start over again. When you file Chapter 7 bankruptcy in Florida, a trustee sells (or liquidates) all of your assets (some assets are protected under the Florida Bankruptcy Exemptions, such as personal property and certain pensions, and are therefore excluded from liquidation) to pay off your creditors. After liquidating your assets, the trustee then receives a commission that covers his/her fees.

Not all debts can be discharged with a Chapter 7 filing. You will still be responsible for some of your debts, such as alimony, child support, and student loans. In addition, some of your assets — such as your home and your car — can only be protected if you sign a Reaffirmation Agreement, which prevents you from wiping out (or re-bankrupting) that asset for the next eight years.

What Constitutes Stock Broker Fraud?

Published on: September 4, 2015 | by Savage Villoch Law, PLLC

Stock broker fraud, also known as investment fraud, occurs when a financial professional or firm offers incomplete, inaccurate or biased information that ends up benefiting the adviser or firm and not the investor. A single individual can commit this type of fraud or it may occur on a corporate level and can run the gamut of investments from penny stocks to multi-million dollar trades.

All investment professionals are legally bound to exercise due care when representing the interests of their investors. When a broker fails to meet financial industry standards of care and harms an investor’s interests, the investor can make a claim against the individual or firm for professional negligence and fraud with the help of a Florida stock broker fraud attorney.

Stock fraud practices can include:

Tampa, Florida, Chapter 7 Lawyers Well Understand Bankruptcy Statutes

Published on: August 28, 2015 | by Savage Villoch Law, PLLC

Tampa, Florida, Chapter 7 lawyers are experts in the Florida statutes that govern which of your assets you can keep–and which must be surrendered to the Court trustee who liquidates (sells) them to pay back your creditors.

According to an overview of the Florida bankruptcy process, filing Chapter 7 allows most debtors to completely cancel out their significant credit card debts and get a “fresh start.” And, after the Court trustee pays off your creditors, he (or she) will give you back any monies/items that are “exempted.” These “exemptions”(assets/items not surrendered)–per Florida statutes–include:

disability, workers’ compensation and unemployment benefits,

Monday Minute: Are homesteaded houses protected in bankruptcy?

Published on: August 24, 2015 | by Savage Villoch Law, PLLC

Are homesteaded houses protected in bankruptcy? Alfred Villoch shares the answers.

Bankruptcy and Divorce – When Should You File?

Published on: August 21, 2015 | by Savage Villoch Law, PLLC

Filing for divorce is a stressful process and it can often happen during a time of great financial strain both individuals. This financial strain may cause both individuals to consider filing for bankruptcy. The big question is should you file before or after a divorce?

The first thing to understand is how bankruptcy and divorce can affect each other. Since distributing assets and liabilities occurs based on each individual’s income, a divorce cannot be finalized until after a bankruptcy is complete. Also, keep in mind that bankruptcy courts handle your filing based on your marital status. If you are still married, separated, or already divorced, it will affect your bankruptcy filing.

Filing Bankruptcy Before a Divorce

3 Tips to Avoid an Investment Scam – Enviratrend's Homegrown Fraud alleged in Sarasota.

Published on: August 18, 2015 | by Savage Villoch Law, PLLC

The SEC has alleged that that not all is well in that most pleasant of small towns, Sarasota, FL. As reported by the Business Observer, the Securities and Exchange Commission has alleged that a Sarasota company engaged in securities fraud and and its CEO used more than $1.8 million for his personal benefit.

Between 2009 and 2014 the SEC alleges that EnviraTrends, Inc.’s CEO, Russell Haraburda, convinced 100 investors in 13 states to part with $2.3 million to develop and build a business that sold pet memorials, personal scooters, and send exports to China. However, the SEC claims that Haraburda used most of that money to send his daughter to college, to pay his ex-wife alimony, take vacations and go on shopping sprees. Haraburda was apparently busy because EnviraTrends, Inc. apparently never got around to develop, produce, or sell anything. Rather, Harburda assured investors that he was preparing for an initial public offering.

So, scams come in all sizes and shapes and it can be hard to protect you and your loved ones. But you can do three simple things you can do to try to avoid being a victim. First, remind yourself that you should ‘trust but verify’ with your own due diligence when it comes to investing, particularly in an unknown company or investment. Second, be aware that many scams are perpetrated (or abetted) by someone you already know and trust. Third, make sure you do not invest too much of your net worth into one opportunity.

Money Minute: Am I responsible for my ex husband’s or ex wife’s debts?

Published on: August 17, 2015 | by Savage Villoch Law, PLLC

Alfred Villoch answers the question: Am I responsible for my ex husband’s or ex wife’s debts?

Elder Abuse

Published on: August 17, 2015 | by Savage Villoch Law, PLLC

I liked the article late last week by Margie Manning on the Tampa Bay Business Journal re: the (admitted) fraudster and Registered Investment Adviser Gingesh Movalia.

A few things popped out at me.

One is that Movalia pleading guilty and agreeing to pay back less than $2mm of the $9mm he defrauded.

Chapter 7 Attorney In Tampa Discusses Scott Storch

Published on: August 14, 2015 | by Savage Villoch Law, PLLC

While he once had a 10-bedroom mansion on Palm Island and a 2007 Bugatti Veyron worth $1.6 million, hip hop producer and musician Scott Storch is no longer the big spender he used to be. Storch filed for Chapter 7 bankruptcy in June 2015 and cited his current personal assets at $3,600.

Storch filed for protection under Chapter 7 in Florida, and this is not his first brush with financial trouble as the man filed for Chapter 13 bankruptcy in 2009 while going to rehab in the same year. At the time, he spent an estimated $30 million in three years. While Storch worked with famous artists like Beyonce and Snoop Dog, his spending habits and cocaine addiction have reportedly left him $4.4 million in debt.

As this story shows, even those who are rich and successful can have problems that lead to debts. Anyone might find themselves facing repossessions or threats from creditors while not knowing how to act. A Chapter 7 attorney in Tampa can advise you about your options when considering filing for bankruptcy.

Are arbitrators licensed or regulated by the state?

Published on: August 10, 2015 | by Savage Villoch Law, PLLC

Brenda Combs discusses arbitrators, and if they are licensed or regulated by the state.