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SEC Charges Middlesex Mortgage Group and Masanotti with Running $5.9 Million Ponzi Scheme The U.S. Securities and Exchange Commission (“SEC”) has alleged that unregistered investment adviser John A. Masanotti, Jr. (“Masanotti” of Darien, Connecticut and his company, Middlesex Mortgage Group LLC (“MMG”), with fraud in connection with investments that MMC induced from outside investors, totaling least $5.9 million, beginning in 2016. Many of the MMG investors allegedly liquidated securities they held in retirement accounts to invest in the fund. The SEC Complaint is accessible here. According to the SEC. MMC and Masanotti allegedly used investor money to make Ponzi-like payments to investors and also used some investor funds for Masanotti’s “extravagant personal expenses,” According to the SEC, Masanotti told investors that MMC would invest their money in foreign currencies, securities and initial public offerings, but in fact MMC appears to have made no investments on their behalf. After receiving their initial payments, Masanotti continued to deceive investors to perpetuate the investment scheme, including via payments that purported to be returns on capital invested, the SEC said. Over the course of the scheme, Masanotti allegedly used more than $3 million of Middlesex’s assets for his and his family’s personal benefit, according to the suit. The SEC accuses Masanotti of violating the Securities Act and the Exchange Act. A Ponzi scheme is a purported investment vehicle in which early investors in the scheme are paid funds from later investors, thus creating the illusion of legitimacy and solvency. Ponzi schemes are often doomed to failure once the perpetrator of the scheme can no longer pay out investors through newly raised money. Some warning signs that every investor should remain mindful of when vetting a potential investment and conducting due diligence include the promise of high returns with guarantees of little or no risk; overly consistent returns with little or no volatility in the in
14 Nov 2023, 4:30 pm by InvestorLawyers
(“Masanotti” of Darien, Connecticut and his company, Middlesex Mortgage Group LLC (“MMG”), with fraud in connection with investments that MMC induced from outside investors, totaling  least $5.9 million, beginning in 2016. [read post]
Investor Lawyers Blog - https://www.investorlawyers.net/blog/
Fastest Growing Independent Broker-Dealers
12 Nov 2023, 9:23 pm by D. Daxton White
  The post Fastest Growing Independent Broker-Dealers appeared first on The White Law Group. [read post]
The White Law Group's Securities Fraud Blog - http://www.whitesecuritieslaw.com/securities-fraud/blog/
SEC Commissioner Speaks on Using Enforcement Actions to Set Regulatory Policy
9 Nov 2023, 9:01 pm by renholding
Once again, I worked with Scott on enforcement recommendations from his group. [read post]
The CLS Blue Sky Blog - https://clsbluesky.law.columbia.edu/
Risks of Investing in Leveraged and Inverse Exchange-traded Funds (ETFs)
8 Nov 2023, 10:14 pm by D. Daxton White
The regulator sanctioned Citigroup Global Markets, Inc; Morgan Stanley & Co., LLC; UBS Financial Services; and Wells Fargo Advisors, LLC a total of more than $9.1 million for selling leveraged and inverse exchange-traded funds (ETFs) without reasonable supervision and for not having a reasonable basis for recommending the securities. [read post]
The White Law Group's Securities Fraud Blog - http://www.whitesecuritieslaw.com/securities-fraud/blog/
FINRA Rule 3280: Private Securities Transactions
3 Nov 2023, 10:39 am by The White Law Group
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Seattle, Washington. [read post]
The White Law Group's Securities Fraud Blog - http://www.whitesecuritieslaw.com/securities-fraud/blog/
FINRA Bars Broker Ron Filoramo After Fraudulent Induction Allegation
2 Nov 2023, 6:55 am by Silver Law Group
(CRD# 8174) of Weehawken, NJ, and Ladenburg Capital Management Inc. [read post]
Securities Arbitration Lawyers Blog - https://www.silverlaw.com/blog/
Robert Luley Jr. Allegedly Sold Unsuitable Investments
1 Nov 2023, 10:57 am by The White Law Group
Many of the allegations are in connection with unsuitable alternative investment recommendations, such as GPB Capital offerings. [read post]
The White Law Group's Securities Fraud Blog - http://www.whitesecuritieslaw.com/securities-fraud/blog/
Blackstone Real Estate Income Trust (BREIT) Tender Offer
26 Oct 2023, 12:25 am by The White Law Group
  The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Seattle, Washington. [read post]
The White Law Group's Securities Fraud Blog - http://www.whitesecuritieslaw.com/securities-fraud/blog/
LSC Ponte Vedra DST – Securities Investigation
25 Oct 2023, 6:02 am by The White Law Group
Investigating Potential Claims involving LSC Ponte Vedra, DST The White Law Group is investigating potential securities claims involving broker dealers who may have improperly recommended Livingston St. [read post]
The White Law Group's Securities Fraud Blog - http://www.whitesecuritieslaw.com/securities-fraud/blog/
CX Lullwater at Blairstone DST – Securities Investigation
23 Oct 2023, 11:07 am by The White Law Group
Investigating Potential Claims involving CX Lullwater at Blairstone, DST The White Law Group is investigating potential securities claims involving broker dealers who may have improperly recommended CX Lullwater at Blairstone DST to investors. [read post]
The White Law Group's Securities Fraud Blog - http://www.whitesecuritieslaw.com/securities-fraud/blog/
Davis Polk Discusses Recent SEC and CFTC Enforcement Actions
3 Oct 2023, 9:01 pm by renholding
SEC press release │SEC company order | SEC CFO complaint SEC settles assets recovery and impairment loss disclosure claims In the Matter of Future FinTech Group Inc. [read post]
The CLS Blue Sky Blog - https://clsbluesky.law.columbia.edu/
Broker Anthony Pitta Investor Alert: Investment Lawyers Investigating Potential Compensation Claims
28 Sep 2023, 1:51 pm by Alan Rosca
He additionally has served as an investment adviser with Capital Investment Advisory Services, LLC, since 2010. [read post]
Goldman, Scarlato & Penny P.C. Blog - https://investorlawyers.org
Broker Anthony Pitta Investor Alert: Investment Lawyers Investigating Potential Compensation Claims
28 Sep 2023, 1:51 pm by Alan Rosca
He additionally has served as an investment adviser with Capital Investment Advisory Services, LLC, since 2010. [read post]
Investor Lawyers News - https://investorlawyers.org/
Broker Anthony Pitta Investor Alert: Investment Lawyers Investigating Potential Compensation Claims
28 Sep 2023, 1:51 pm by Alan Rosca
He additionally has served as an investment adviser with Capital Investment Advisory Services, LLC, since 2010. [read post]
Investor Lawyers GSP - https://investorlawyers.org/investigations/
Broker Surage Kamal Roshan Perera Barred by FINRA In Connection to Allegedly Defrauding a Customer
28 Sep 2023, 1:25 pm by Alan Rosca
From 2017 to 2018, Perera reportedly served as a broker for Maxim Group LLC, in New York, New York. [read post]
Investor Lawyers News - https://investorlawyers.org/
Broker Surage Kamal Roshan Perera Barred by FINRA In Connection to Allegedly Defrauding a Customer
28 Sep 2023, 1:25 pm by Alan Rosca
From 2017 to 2018, Perera reportedly served as a broker for Maxim Group LLC, in New York, New York. [read post]
Investor Lawyers GSP - https://investorlawyers.org/investigations/
Broker Surage Kamal Roshan Perera Barred by FINRA In Connection to Allegedly Defrauding a Customer
28 Sep 2023, 1:25 pm by Alan Rosca
From 2017 to 2018, Perera reportedly served as a broker for Maxim Group LLC, in New York, New York. [read post]
Goldman, Scarlato & Penny P.C. Blog - https://investorlawyers.org
Greenbacker Renewable Energy Suspends Redemptions
28 Sep 2023, 1:01 pm by The White Law Group
The company filed an amended  Form D to raise capital from investors in 2021. [read post]
The White Law Group's Securities Fraud Blog - http://www.whitesecuritieslaw.com/securities-fraud/blog/
Cleary Discusses Second Circuit Decision That Syndicated Loans Are Not Securities
26 Sep 2023, 9:01 pm by renholding
Several banks assigned portions of the term loan made to Millennium Laboratories LLC (“Millennium”) to institutional investor groups, including mutual funds, hedge funds and other institutions. [read post]
The CLS Blue Sky Blog - https://clsbluesky.law.columbia.edu/
W.P. Carey to Ditch Office Portfolio 
25 Sep 2023, 9:03 am by The White Law Group
   The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Seattle, Washington. [read post]
The White Law Group's Securities Fraud Blog - http://www.whitesecuritieslaw.com/securities-fraud/blog/