investment-loss protection Tag Archives — Securities Fraud Lawyers Blog

Protecting Your Investments Against Affinity Fraud

Published on: April 15, 2018 | by Savage Villoch Law, PLLC

In a recently filed complaint,The SEC charged a prominent pastor in a scheme to defraud investors out of millions of dollars. Using his religious clout and reputation, the pastor leveraged investments out of devoted followers, mainly elderly. Between 2013 and 2014, the SEC alleges that Kirbyjon Caldwell, Pastor of the Windsor Village Methodist Church and Gregory Alan Smith, a financial planner previously barred by FINRA managed to dupe investors out of nearly $3.5 million. Caldwell and Smith used most of the funds to cover personal expenses. They funneled the remaining funds to off-shore accounts.

The case represents a pervasive issue for financial and securities regulators: affinity fraud.

What is affinity fraud?

Fraud Watch: Beware of Senior Financial Scams

Published on: October 13, 2017 | by Savage Villoch Law, PLLC

A recent report shows that senior citizens have become one of the largest demographic groups target by financial scams and investment fraud. In the past, we’ve offered tips for preventing elder financial abuse, but it seems that the problem is much more aggressive than just making sure that you take steps to protect your investments.

According to the recent report, Americans 62 and older are the targets of widespread and rampant financial abuse.

And these scams aren’t being perpetrated by the seedy criminals you’d expect to be preying on the elderly; instead, the report shows that these senior financial scams are perpetuated by the very people that should be helping you make smart and secure financial decisions. People like:

Smart Investing Tips: Cryptocurrency Investing

Published on: October 6, 2017 | by Savage Villoch Law, PLLC

You’ve probably heard of the popular cryptocurrency investing platform Bitcoin, but what about Ethereum?

Or Litecoin?

Or Dash?

What to Know About Shortened Securities Transaction Settlement Cycles

Published on: April 3, 2017 | by Savage Villoch Law, PLLC

Last week, the Securities and Exchange Commission (SEC) amended standing rules regarding broker-dealer securities transaction settlement cycles. The new rules shorten the amount of time between when an investment transaction is placed and when it is actually processed.

Previously, the transaction settlement cycle was set as “T+3”. This refers to the time, in days, that lapse before a transaction is settled. For instance, if you buy or sell a security on Monday, Thursday would be the day the transaction is settled.

The SEC has set the new settlement cycle to “T+2”, meaning only two days bass between transaction and settlement. This change is set to take effect for all transactions on or following September 5, 2017.

Morgan Stanley Ethical Conduct in Question

Published on: October 3, 2016 | by Savage Villoch Law, PLLC

Bad Week for Big Banks

Some of the nation’s top banks are facing another bad week, legally and financially as they are subjected to increased scrutiny and demand for reparations from federal regulators.

Wells Fargo faces a continued inquest into the extent of its accounts fraud scandal as regional and municipal governments, including Hillsborough County, look further into their interests with the banking giant.