The Growing Problem With Sales of Unregistered Securities

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fip llc logo

Recently I have been busy working to recover losses for a large number of investors who lost money in unregistered investments offered by Woodbridge and Future Income Payments or FIP. In many cases these investments were recommended by insurance agents who were not licensed to sell securities, and did not perform adequate due-diligence on these… Read more »

FIVE QUESTIONS TO ASK BEFORE YOU INVEST

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u.s. securities and exchange commission

Whether you’re a first-time investor or have been investing for many years, there are some basic questions you should always ask before you commit your hard-earned money to an investment. Question 1: Is The Seller Licensed? Research shows that con-artists are experts at the art of persuasion, often using a variety of influence tactics tailored… Read more »

Broker Imposter Scams: Remember To Ask And Check

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Editor’s note: This is re-post of an investor alert that recently appeared on FINRA’s website. This is a good reminder of the need to “trust but verify” the credentials of your investment professional. FINRA recently issued an investor alert on fraudsters impersonating FINRA executives, offering bogus investment “guarantees” to investors as part of an advance-fee… Read more »

Top Ten Ways To Avoid Losing Money In A Financial Scam*

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money in back pocket

Every week Utah residents lose money by investing with friends, family or neighbors – people they knew and trusted. Investment fraud is a big problem here in Utah, largely because our close-knit communities are a prime target for “affinity fraud.” Our state has a long history of financial scams and Ponzi schemes, many of which… Read more »

Securities Arbitration—Should You Hire an Attorney?

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Note: this is a re-post of an excellent article that was published on January 3, 2019 in FINRA’s Alert Investor newsletter. The article was co-authored by FINRA staff and The PIABA Foundation. The vast majority of interactions between investors and investment professionals are positive. However, sometimes the relationship doesn’t go as planned, and the situation… Read more »

The Falls Event Centers; A Financial Scam Targeting Medical Professionals

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the falls sign

Editor’s Note: This is an excerpt from a guest post that I wrote for The White Coat Investor, a fantastic website that provides financial tips and education to medical professionals. I have represented a number of doctors and dentists over the years in disputes with their stockbrokers and in Ponzi schemes and investment fraud cases.My… Read more »

Rust Rare Coin: An Analysis of Utah’s Latest Massive Ponzi Scheme

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Imagine waking up one day and discovering that all of your retirement savings were gone; all the money you had been working to save had evaporated in a poof. That’s what happened to over 200 people on November 15th. They had invested in a “Silver Pool” investment promoted by Gaylen Rust who claimed he had… Read more »

Another Former LDS Stake President Indicted for Affinity Fraud

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fraud political cartoon

On Wednesday September 6, 2018 the US Department of Justice announced the indictment of Robert G. Mouritsen of Kaysville, Utah on three counts of wire fraud and three counts of money laundering. The DOJ alleged that Mouritsen used a “position of prominence” to induce friends and fellow church members to give him money to further… Read more »

Another Scam Comes to Light: Future Income Payments or FIP

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fip llc logo

Editor’s Note: I have been contacted by a number of individuals who invested in Future Income Payments or FIP through Utah-based Live Abundant, which is referenced in the article below. This article appeared in the Wall Street Journal today and has a pretty good summary of the FIP situation. Spoiler alert: it’s not good. Private… Read more »

The Problem With Private Placements

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private placement investing

One of the biggest problems I am seeing these days is private placements (also called alternatives or non-registered investments) that are sold to accredited investors through a private placement memorandum or PPM. Because these investments are not registered with the SEC the information that you can get about them is far more limited, and can… Read more »