SEC Bars Former Advisor Gerald Cocuzzo

Posted on September 27, 2017 by The White Law Group

Coccuzzo Sentenced to 18 Months Prison for ForceField Energy Scheme

According to a press announcement, the Securities and Exchange Commission has barred former broker Gerald Cocuzzo for his role in a $131 million market manipulation scheme involving the shares of ForceField Energy.

As we told you in July, Cocuzzo, of Delray Beach, Fla., was sentenced to 18 months in prison for his role in the fraud.

According to releases from the SEC and the U.S. Attorney’s Office, between 2009 and 2015, Cocuzzo and his co-conspirators allegedly artificially controlled the price and trading volume of ForceField Energy shares by using nominees to purchase and sell stock without disclosing the information to investors and potential investors.

In addition, they were accused of purportedly orchestrating the trading of ForceField stock to create the misleading appearance of genuine trading volume and interest in the stock. They also allegedly concealed secret payments to stock promoters and broker-dealers who promoted and sold ForceField stock to investors and potential investors while falsely claiming to be independent of the company. The fraudulent scheme caused a close to $131 million loss to the investing public, according to the Justice Department.

The Justice Department said between January 2015 and April 2015, Cocuzzo allegedly received secret cash kickbacks from a ForceField executive in exchange for purchasing ForceField stock in his clients’ brokerage accounts. Cocuzzo and his co-conspirators allegedly tried to hide their participation in the fraudulent scheme by using prepaid, disposable cellular telephones and encrypted, content-expiring messaging applications to communicate with each other.

According to FINRA Broker Check, Cocuzzo was registered with Newbridge Securities in Boca Raton, FL from December 2014 until May 2016, when he was discharged after the federal indictment was revealed. Cocuzzo has nine customer disputes listed on his Broker Check report that include allegations of unsuitability, over-concentration, and negligent supervision.

Bokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules. If it can be determined that Cocuzzo violated FINRA rules and his employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.

For more information on The White Law Group’s investigation, see Gerald Cocuzzo Pleads Guilty to Securities Fraud.

Recovery of Investment Losses

This information is all publicly available. For a free consultation with a securities attorney, please call The White Law Group at 888-637-5510.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit http://www.whitesecuritieslaw.com.

Lorenzo Esteva Barred from the Securities Industry

Posted on September 14, 2017 by The White Law Group

UBS Fires Miami Broker Lorenzo Esteva, then FINRA Bars him

According to FINRA, Lorenzo C. Esteva has purportedly been permanently barred from the securities industry. UBS Financial Services reportedly fired Miami-based Esteva earlier this year for allegedly giving clients documents with false account information.

FINRA states that Esteva allegedly failed to produce documents and information that Finra requested about the falsified account statements. This is why he was barred from the securities industry, according to FINRA’s settlement statement. Esteva neither admitted to nor denied any of its findings, according to FINRA.

Lorenzo Esteva worked for Merrill Lynch in Miami for 24 years, according to his BrokerCheck Report. He was registered with UBS Financial Services from November 2015 until this July when he was reportedly discharged. His broker report states Lorenzo Esteva “was discharged after he admitted providing a client with documents containing false account information.”

According to his BrokerCheck report, Esteva has five disclosure events listed. The four customer disputes include allegations of providing false account statements, opening a credit line without permission, misrepresentation, unsuitable investments and unauthorized trading.

Recovery Options

This information, which is publicly available on FINRA’s website, has been provided by The White Law Group.

For more information on The White Law Group’s investigation, please see FINRA Bars Former UBS Financial Broker Lorenzo Esteva.

If you have questions or concerns about investments you made with Lorenzo Esteva, the securities attorneys of The White Law Group may be able to help you. To speak with a securities attorney, please call 888-637-5510.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, and its representation of investors, please visit our website at http://www.whitesecuritieslaw.com.

Recovery of Investment Losses Involving American Finance Trust

Posted on September 13, 2017 by The White Law Group

Secondary Market Sales for American Finance Trust

The White Law Group is investigating potential claims against the broker dealers that sold high risk investments, such as American Finance Trust, onto unsuspecting investors.

American Finance Trust, Inc. is a real estate investment trust launched and managed by American Financial Advisors, LLC. It invests in real estate markets of United States. It was formerly known as American Realty Capital Trust V, Inc. American Finance Trust, Inc. was formed on January 22, 2013 and is based in the United States, according to Bloomberg.

According to Central Trade & Transfer, a secondary market for private placements, shares of American Finance Trust shares are currently listed for just $15.50/share. The original offering price for the units is $25.00/share. Unfortunately for investors, this would be a significant loss on their capital investment.

Broker dealers are required to perform adequate due diligence on any investment they recommend. They must ensure that all recommendations are suitable for the investor. Recommendations should be appropriate in light of the investor’s age, risk tolerance, net worth, and investment experience.

If your broker fails to adequately disclose risks or makes unsuitable investment recommendations, they can be held liable for investment losses in a FINRA arbitration claim.

For more information on the firm’s investigation in potential claims involving American Finance Trust, please visit American Finance Trust Decreases Distributions.

Free Consultation

If you have suffered losses investing in American Finance Trust and would like to speak to a securities attorney about recovery options, please call The White Law Group at 1-888-637-5510 for a free consultation.

Investigating Potential Claims Involving Lightstone Value Plus REIT V

Posted on September 13, 2017 by The White Law Group

Secondary Market Listing for Lightstone Value Plus REIT V

The White Law Group is investigating potential claims against the broker dealers that sold high risk investments like Lightstone Value Plus REIT V, formerly known as Behringer Harvard Opportunity REIT II.

Behringer Harvard Opportunity REIT II went effective in January 2008 and closed in March 2012 after raising $265 million in investor equity. The company’s portfolio is comprised of eight properties with a total investment cost of $229.2 million, according to Summit Investment Research. In July, the REIT changed its name to Lighthouse Value Plus REIT V.

According to Central Trade & Transfer, a secondary market for private placements, shares of Lightstone Value Plus REIT V interests are currently listed for just $5.75/share. The original offering price for the units is $10.00/share.

Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Recommendations should be appropriate in light of the investor’s age, risk tolerance, net worth, and investment experience.

If your broker fails to adequately disclose risks or makes unsuitable investment recommendations, they can be held liable for investment losses in a FINRA arbitration claim.

For more information on the firm’s investigation in potential claims involving Lightstone Value Plus REIT V, please visit Behringer Harvard Opportunity REIT II Inc. Name Change.

Free Consultation

If you have invested in Lightstone Value Plus REIT V and would like to speak to a securities attorney about the potential to recover your investment losses, please call The White Law Group at 1-888-637-5510 for a free consultation.

Investigating Potential Claims Involving Griffin-American Healthcare REIT III

Posted on September 12, 2017 by The White Law Group

Secondary Market Listing for Griffin-American Healthcare REIT III

The White Law Group is investigating potential claims against the broker dealers that sold high risk investments, like Griffin-American Healthcare REIT III, onto unsuspecting investors.

Griffin-American Healthcare REIT III is a publicly registered, non-traded real estate investment trust (REIT). The REIT is sponsored by American Healthcare Investors and Griffin Capital Company, LLC.

According to Central Trade & Transfer, a secondary market for private placements, shares of Griffin-American Healthcare REIT III interests are currently listed for just $8.02/share. The original offering price for the units is $10.00/share.

If your broker fails to adequately disclose risks or makes unsuitable investment recommendations, they can be held liable for investment losses in a FINRA arbitration claim.

For more information on the firm’s investigation in potential claims, please visit Griffin-American Healthcare REIT III Secondary Market Listing.

If you have invested in Griffin-American Healthcare REIT III and would like to speak to a securities attorney about the potential to recover your investment losses, please call The White Law Group at 1-888-637-5510 for a free consultation.