Archive for the ‘New Jersey’ Category

Protect Yourself

Tuesday, March 24th, 2009

Bret Grenbow, of Highlands FL, along with his business partner Robert Massimi, were charged with fraud by the Securities and Exchange Commission (SEC) in December 2005.  They were eventually sentenced to pay a total of $4.6 million to settle. Grenbow was also charged criminally, and pleaded guilty to investment adviser fraud.  He has been sentenced to four years in prison. (more…)

More than Just Madoff

Tuesday, December 23rd, 2008

While Bernard Madoff’s scam does seem to be all over the headlines, it’s not the only Ponzi scheme reeking havoc. Jim Walsh, a Courier- Post staff writer wrote a great article detailing another $1.3 million Ponzi scheme that was aimed at senior citizens(more…)

Another Day, Another Affinity Fraud

Monday, August 18th, 2008

Yesterday it was Orthodox Jews.  Today its members of the Family Federation for World Peace (FFWP) - formerly known as the Unification Church.  The SEC has charged Kay Services, LLC, and its sole owner and officer, Marcia Sladich, with orchestrating a Ponzi scheme that bilked at least 1,000 investor of more than $10 million.  (more…)

The Lure of Easy Money

Wednesday, January 16th, 2008

Glenn Frey had a hit in the 80’s called “Smuggler’s Blues.”  The song includes the lyric “it’s the lure of easy money, it’s got a very strong appeal.”  That line speaks as much to financial criminals as it does to drug smugglers. 

Robert E. Kessler of Newsday reports: (more…)

SEC Wants to Know Whether a NJ Brokerage Firm is a Ponzi Scheme

Monday, January 14th, 2008

Registered Broker-Dealer.  Member of the Financial Industry Regulatory Authority (FINRA).  Securities Investor Protection Corporation (SIPC).   Every brokerage firm you’ve ever done business with touts those three things.  Let’s admit it-unless you work in the industry, those claims make the firm sound stable, solid, and safe.  They give it an aura of legitimacy.  A case the SEC is investigating should cure us all of that misunderstanding. (more…)