The national plaintiff securities law firm of Dimond Kaplan & Rothstein, P.A. obtained an American Arbitration Association award of more than $250,000 on behalf of a Mexican investor who lost all of his money in the now-infamous Bernie Madoff Ponzi scheme. The investor was placed in the Anchor Hedge Fund, a Madoff “feeder” fund, by the Florida investment advisory firm Sovereign International Asset Management, Inc. (“Sovereign”). Sovereign represented that Anchor was a diversified “fund of funds.” In truth, Anchor actually invested investors’ money only in the Madoff Ponzi scheme.

The AAA arbitrator found that Sovereign misrepresented the Anchor fund as a diversified fund when Anchor actually concentrated all investors’ money entirely in Madoff. The arbitrator also found that Sovereign was negligent, breached its fiduciary duties to the investor, and violated Florida securities laws by failing to understand the nature of the investments that the Anchor fund placed investors’ money into, i.e., Madoff.

EN   ES   PT     

Miami Office
Grand Bay Plaza
2665 S. Bayshore Drive
Penthouse 2B
Miami, FL 33133
Telephone: 786.628.8236

Los Angeles Office
Available by Appointment
2029 Century Park East
Century Plaza Tower
Suite 400N
Los Angeles, CA 90067
Telephone: 424.544.7930

New York City Office
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14 Wall St, 20th Floor
New York, NY 10005
Telephone: 917.382.5217

West Palm Beach Office
Northbridge Centre
515 N. Flagler Drive, Suite P-300
West Palm Beach, FL 33401
Telephone: 561.475.2887

Detroit Office
41000 Woodward Avenue,
Suite 350 East
Bloomfield Hills, Mi 48304
Telephone: 248.368.0182