Beware of Ponzi Schemes: Lawrence Stephens Convicted of Securities Fraud

Block & Landsman by Block & Landsman

A man stacks blocks, Business LitigationLawrence Paul “Larry” Stephens was arrested on April 30th based on charges that he ran an extensive Ponzi scheme that defrauded people out of millions of dollars. This story illustrates the age-old saying that if something seems too good to be true, it probably is. Mr. Stephens defrauded dozens of individuals for millions of dollars based on a variety of schemes designed to sustain his years-long Ponzi scheme. The enterprise eventually collapsed and he is now the subject of a criminal prosecution and multiple civil suits to recover the f...Read More

Investors Take Greater Control Over Investments With Orders

Block & Landsman by Block & Landsman

A handshake, Securities FraudFew investors have the time to watch the markets all day, through recent volatility in the market drove many investors to take a more direct role in their portfolios. Through stop and limit orders, investors shape a broad investment strategy, leaving brokers to handle the execution of that strategy. Brokers have a fiduciary duty to follow a client’s wishes, even when the orders the client established go against the broker’s analysis or instincts. When a broker fails to do so, a securities fraud attorney can seek compensation for the inve...Read More

Tips to Prevent Senior Consumer Fraud

Block & Landsman by Block & Landsman

A judge at court, consumer fraudInvestigations show that seniors and their family members lose billions of dollars to financial abuse and consumer fraud every year. According to studies of older Americans, reports show that one in five seniors have been victimized by some type of financial or consumer fraud scam. In Illinois, victims can receive information and legal advice from a consumer fraud attorney who's familiar with these fraudulent scams. What is Senior Consumer Fraud? Financial elder abuse which includes consumer fraud is broadly defined as the illegal or ...Read More

Structured Note Sales Place Merrill Lynch in an SEC Investigation

Block & Landsman by Block & Landsman

An awkward man with empty trouser pocket, security fraudIn June, the Securities and Exchange Commission brought a civil enforcement case against Merril-Lynch for defrauding investors with structured note sales. A securities fraud lawyer may be able to help investors recover damages from the investment company. The Product Merrill-Lynch unveiled their latest financial product, Structured Return Notes, in 2010, allowing investors to limit their risks in a volatile market by tying the performance of the notes to the S&P 500. Investors flocked to the new product, and within a year, Merrill-Lyn...Read More