DKR Los Angeles Blog

Nevada-based investment adviser Luis Petrossi was convicted by a Pennsylvania federal jury of defrauding investors out of $1.1 million. This follows a 2017 conviction in New York federal court in a $131 million investment scheme. Petrossi, founder and president of The Wealth Research Institute, was found guilty on three counts of securities fraud, investment adviser …

Investment Adviser Luis Petrossi Convicted In $1.1M Fraud Trial Read More »

The leader of a $3 million stock-trading scheme has admitted to violating confidentiality agreements with investment banks and short-selling securities before offerings were publicly disclosed. Steven Fishoff, of California, pled guilty to one count of securities fraud and agreed to a $5 million fine. He is the fifth defendant to plead guilty in the three-year …

Stock Trader Admits To $3 Million Insider Trading Scheme Read More »

The U.S. Securities and Exchange Commission (SEC) announced a $3 million settlement to resolve claims in a California home audio securities fraud case a regarding a company accused of a fraudulent, multimillion-dollar unregistered securities scheme. Home Audio Securities Fraud Bilked Millions from Investors The home audio securities fraud case involves the Lake Forest, California-based company …

SEC Settles for $3M in Home Audio Securities Fraud Case Read More »

Los Angeles-based broker-dealer Electronic Transaction Clearing has agreed to settle charges by the U.S. Securities and Exchange Commission (SEC) and pay a $80,000 penalty. The SEC said in a release that the high-frequency clearing firm violated the Customer Protection Rule and illegally placed more than $25 million of customers’ securities at risk in order to …

SEC Settles with L.A.-based Electronic Transaction Clearing Read More »

A former Cetera Advisor and the COO of his RIA have been summoned by the U.S. Securities and Exchange Commission (SEC) and charged with securities fraud related to the misappropriation of more than $780,000 of investor money.