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Foresee Strategies Insurance Funds Losses
Posted by: Jeffrey B. Kaplan
August 20, 2010
Topic: General Securities Fraud

Dimond Kaplan & Rothstein, P.A. has been retained by investors who have lost money in the Foresee Strategies Insurance Funds 3(c)(1) and 3(c)(7) (the "Foresee Funds").

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Investors Unlikely to Recover Significant Money from Medical Capital Receivership
Posted by: Jeffrey B. Kaplan
July 15, 2010
Topic: Medical Capital Investment Fraud

On July 12, 2010, the Receiver that the SEC appointed for the Medical Capital investment fraud filed his twelfth monthly status report. Over the past two months the Receiver has collected little additional money. While the Receiver had collected nearly $100 million through April 2010, since that time he has recovered less than $5 million in additional cash for the Medical Capital estate. Medical Capital investors still are owed nearly $1.1 billion and it appears highly unlikely that they will recover a significant amount of that from the Medical Capital receivership.

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SEC Stops $34 Million Jacksonville, Florida Ponzi Scheme
Posted by: Jeffrey B. Kaplan
June 25, 2010
Topic: General Securities Fraud

On June 25, 2010, the U.S. Securities and Exchange Commission (SEC) announced that sued a Jacksonville, Florida-based government benefits consultant and obtained an asset freeze and other emergency relief against the retirement benefits consulting company that defrauded active and retired government employees and law enforcement agents nationwide.

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SEC Charges Palm Beach County Investment Adviser With Running a Ponzi Scheme and Stealing Client Funds
Posted by: Jeffrey B. Kaplan
June 24, 2010
Topic: General Securities Fraud

On June 22, 2010, the US. Securities and Exchange Commission (SEC) announced that it has charged a Palm Beach Gardens, Florida investment adviser and two of its principals with fraud for running a Ponzi scheme and stealing client funds. The SEC alleges that Trade-LLC, and its principals, Philip W. Milton and William Center, convinced three private investment clubs, with more than 800 members nationwide, to entrust Trade-LLC with their investment funds so that Trade-LLC could trade securities on behalf of the investment clubs using purported proprietary software trading program.

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Assets Recovered by SEC Receiver for Medical Capital Fall Far Short of Investor Losses
Posted by: Jeffrey B. Kaplan
June 15, 2010
Topic: Medical Capital Investment Fraud

On June 10, 2010, the court-appointed SEC receiver for the Medical Capital investment fraud filed his eleventh monthly status report. Through May 31, 2010, the Receiver has collected slightly more than $100 million in cash for the Medical Capital estate. This represents less than $2 million in additional cash recovery over the past month, reflecting a distinct slow down in the pace at which the receiver is recovering money. Medical Capital investors still are owed nearly $1.1 billion. And given the amount of cash that the SEC receiver has been able to recover to date, it appears that investors likely will lose approximately $1 billion.

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