parallax volatility advisers regulatory filings

That charge (if found guilty) could give the defrauded victims and their investment fraud lawyers great leverage during arbitration. In a news release, the SEC stated that Vitale allegedly led the investors to believe that their money was “100% protected” even though that was untrue. According to the charges, Vitale and his firm (Realty Acquisitions & Trust Inc.) were able to raise $8.7 million from their investors, many of whom were seniors who may now be looking to hire securities fraud lawyers to represent them in filing their claims. Vitale is being charged with selling unregistered securities and acting as an unregistered broker. While this investigation continues, victims of Vitale’s fraud are encouraged to begin talking with investment fraud lawyers, who may be able to help them recover their losses. District Court for the Southern District of Florida, accuses Vitale of defrauding investors in a real estate venture in Florida. Securities & Exchange Commission (SEC) has decided to file fraud charges against him. Vitale sits in prison for two years for lying to investigators in a previous investigation about another matter, the U.S. Smith allegedly sold unregistered securities in a purported hedge fund known as The Haverford Group to more than a dozen investors.īolton Global Capital, Smith’s employer, reportedly notified Smith’s customers in early 2017 that their accounts were being transferred to another “financial representative” but reportedly gave no indication that Smith had been terminated and accused of wrongdoing in connection with The Haverford Group.

Smith worked in the securities industry as a registered representative of several brokerage firms from 1982 until 2017, including with Bolton Global Capital from May 2007 to February 2017.

Smith, age 63, a resident of Wayne, Pennsylvania, has been accused of misconduct in connection with the sale and operation of a Ponzi scheme known as the Haverford Group. Paul Wescoe Smith, formerly associated with Bolton Global Capital, was the subject of a civil action and a criminal indictment filed by the United States Securities and Exchange Commission and the Department of Justice, through the United States Attorney for the Eastern District of Pennsylvania, on December 7, 2017.

Parallax volatility advisers regulatory filings