投资者律师博客Four Face SEC Charges in Florida Elder Abuse Scam Involving Free Dinners
The U.S. Securities and Exchange Commission is charging four men with fraud. The regulator claims that Joseph Andrew Paul, James S. Quay, John D. Ellis, Jr., and Donald H. Ellison sought to bilk investors, including seniors, by promising them lucrative returns for their money.
The SEC contends that Ellis and Paul lied about their investment advisory firm’s performance record, generated fraudulent marketing collateral that included performance figures from the website of another firm, and recruited Quay and Ellison to be part of the scheme. The latter two then purportedly used the fraudulent materials to deceive investors who answered a mass mailing that offered a free dinner at a restaurant in Florida. Quay, who previously was found liable forbob200体育证券弗劳D并被定罪，据称是使用“ Stephen Jameson”这个名字作为别名来隐藏他的真实身份。SEC表示，詹姆森在发生欺诈行为时并不是注册投资专家，在大部分时间里，埃里森也不是埃里森。
“免费午餐”研讨会
The Commission has warned more than once that when it comes to investment seminars there is no such thing as a “free lunch.” While you, as the attendee, may not have to pay for the food, these seminars are educational programs and investment workshops geared toward getting you to buy an investment product that a host or an affiliate is touting.
While there are plenty of legitimate investment seminars, there are those that have purposely been set up to bilk prospective attendees. At such gatherings there may be fake products sold, misrepresentations about risks and returns made, conflicts of interest related to the products for sale and the information provided, and advertising collateral that is misleading or inaccurate. Unfortunately, older investors continue to be a favorite target of financial scammers.
At Shepherd Smith Edwards and Kantas, LTD LLP, ourelder financial fraud lawyers在这里与投资者合作，以拿回他们的钱。
According to a report released by the Investor Protection Trust, one out of every five Americans over age 65 has been victimized by financial exploitation of or investment fraud. The report said that close to seven million seniors have been taken advantage of via fraudulent scams, investments that were inappropriate for them, or through financial services fees that were unreasonably high. Public Policy Polling conducted the survey for IPT, interviewing over 2,250 older seniors and 73 adults with parents who were seniors.
Unfortunately, it is not only unethical financial advisers that try to defraud older investors. Family members, friends, and acquaintances have also been known to target older seniors. This month, the North America Securities Administrators Association announced that it intends to roll out a training program to help brokers and advisers identify and report possible incidents of elder financial abuse involving clients. The program will provide a guide to internal and external channels where suspicions of fraud can be reported.
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SEC Charges Four in Fraudulent “Free Dinner” Scheme，SEC，2016年4月4日