Martin Shkrell Ponzi Scheme Case

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A person with handcuffsMartin Shkrell was arrested for securities fraud in December. He is accused of running his businesses much like a Ponzi scheme. He was allegedly lying to investors, and taking assets from one company to pay off the debts of other companies. Evan Greebel, a New York lawyer, is said to have been Mr. Shkrell's accomplice. He gained a level of infamy after raising the price of a drug called Daraprim from $13 a pill to $750 a pill. The drug that he increased the price on 55 fold is life saving for unborn babies and those with cancer or HIV that d...Read More

SEC Urges Investors to Protect Themselves from Fraud

Block & Landsman by Block & Landsman

Security FraudAccording to the Securities and Exchange Commission (SEC), consumers simply aren't doing enough to protect themselves against the financial devastation that can result from investment fraud. In response, the SEC's Office of Investor Education & Advocacy has taken measures to heighten public awareness about possible types of schemes and frauds, how to identify them, and what steps can be taken to avoid them entirely. A New Tool to Protect Investors Against Fraud In fact, for the first time in the commission's 82-year history, it recently...Read More

DOL Makes Advisors Fiduciaries

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Investors should cheer recent changes to the laws which identify a ‘financial advisor’s’ duties and obligations to the investor. Most investors are not aware that there is a difference between a ‘stock broker’, an ‘investment advisor’, a ‘wealth manager’, to name a few of the common designations for individuals who provide financial advice. Similarly, most investors are not aware that the manner by which advisors are compensated impacts their duties and obligations to investors. On April 8, 2016, the Department Of Labor Rel...Read More

Zika Virus Outbreak Linked to Rise in Securities Fraud

Block & Landsman by Block & Landsman

Securities FraudA crisis often encourages investment scam artists who exploit the situation to line their own pockets. Unfortunately, the explosive outbreak and spread of the Zika virus has created just such an investment scam. The Securities Exchange Commission has recently issued an alert for investors about increased incidences of stock promotion related to the Zika virus epidemic. Fraud Alert: Investors Beware The Office of Investor Education and Advocacy with the U.S. Securities and Exchange Commission (SEC) is warning investors about potential in...Read More