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Internal Investigation with UBS Brokers in Puerto Rico

On October 2, 2013, the New York Times reported that UBS customers in Puerto Rico saw a huge decline in value of their municipal bond funds. This decline caused many UBS clients to liquidate their funds to cover the margin calls. UBS has begun an internal investigation into the lending practices of some of their […]

October 7, 2013 , by Walter Mathews


Thought Development Inc. Charged by the SEC

On September 26, 2013, Thought Development Inc. was charged by the U.S. Securities and Exchange Commission with defrauding senior investors with high pressure tactics. According the SEC’s press release, TDI sold unregistered company stock to raise capital for their invention. The South Florida-based company, Thought Development Inc., claimed to have developed a technology that creates […]

October 2, 2013 , by Walter Mathews

McGinn Smith & Co. Charged by SEC

On September 23, 2013, 10 former brokers from McGinn Smith & Co. were charged by the U.S. Securities and Exchange Commission for their lack of due diligence in selling unregistered investment products. According to the SEC’s press release, the 10 brokers assisted in the $125 million Ponzi scheme by failing to properly disclose obvious issues […]

October 2, 2013 , by Walter Mathews

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