INVESTMENT FRAUD ALERTS!
Breaking News for Investors
Did you Buy the UBS Willow Fund?
The problems associated with the UBS Willow Fund are discussed in a March 30, 2013 New York Times article entitled “If A Fund Turns On A Dime, Watch Your Dollars,” by Gretchen Morgenson.
The Willow Fund was deviating into a strategy of CDS (credit default swaps) speculation on the government debt of Spain or Greece. It was a speculative investment and should only have been recommended to investors whose risk tolerance was identified as speculative and could afford the possibility of a total loss of their investment.
There are three tests to determine whether or not an investment recommendation was suitable at the time it was made:
Number 1 is did the customer understand the risk?
Number 2, did the customer want to take the risk? and
Number 3, could the customer afford the risk?
Each of these three criteria must be in the affirmative in order to determine whether or not the investment recommendation was suitable. Based on the above, if you believe that the recommendation to purchase Willow Fund in your account(s) was unsuitable, please contact our office in order that we may assist you in determining whether or not an investment loss recovery action would be appropriate for you to initiate.
Attention IMH Secured Loan Fund customers:
Did you lose money in the
IMH Secured Loan Fund?
Were You Told:
- That the fund was safe?
- That you could get at your principal, on demand, with 60 days notice?
- That you would receive a 10-11% return?
- And that IMH was dedicated to protecting your investment?
If so, please call us and learn how you may recover up to 100% of your principal through securities arbitration.
Did You Buy Medical Capital
Medical Capital Corporation sold more than $2 billion of its
notes to investors. The proceeds were supposed to be used to purchase
accounts receivables from medical providers like doctors' groups and
In July 2009, the SEC closed this firm down and had a judge appoint a
receiver for its business. It seems that the firm was investing in
several non-medical investments, including: $20 million for “The Perfect
Game,” a film about a group of Mexican youths who in 1957 became the
first non-U.S. team to win the Little League World Series; $7 million in
a company that marketed a mobile-phone application that consisted of a
live video feed of a hamster in a cage; and an unspecified amount for a
118-foot yacht called "The Home Stretch".
Not surprisingly, the firm has defaulted on the payment of a
substantial portion of the outstanding notes, leaving investors out in
Investors Recovery Service is beginning to commence actions
against the brokerage firms that sold these notes. In reviewing the
offering materials we believe that there are far more questions than
answers, and that a brokerage firm that competently reviewed these
offerings, performed the requisite due diligence would not have sold
them in the first place, and most importantly, would not have sold them
to investors that needed income, particularly to supplement their
If you are a holder of any Medical Capital Notes, call us, as we
our your best chance of obtaining a substantial recovery on these
losses. Class actions will only yield a tiny percentage of your losses.
Securities Arbitration makes much more sense. Interestingly,
this is not the first Medical Receivables fraud we have run across.
Towers Financial, back in the 90's, also defrauded investors out of many
hundreds of millions of dollars. We obtained numerous arbitration awards
for our clients that lost money with Towers and we are confident that we
will receive similar results with Medical Capital Notes.
Did You Lose money in bond funds,
particularly short term bond funds?
Many investors lost money last year in short term bond funds, as well
as long term funds, because of heavy concentration in Non Agency
Mortgage Backed Securities. In many instances, there was a concentration
of well in excess of 50% of the fund's assets in these speculative
securities. Many customers were told that these funds were safe, and
some were even told that the funds were managed "to provide minimal
changes in share price". Sometimes even as an alternative to a money
We can recover a substantial portion of your bond fund losses through
securities arbitration. Please call or write for a no cost consultation.
What we will need from you is the name of the fund, the date(s) you
purchased it, what you were told, how much you invested and the amount
of your capital loss.
Did you lose money due to Rochester Fund Municipals?
Oppenheimer Rochester National Municipals Fund (NASDAQ: ORNAX - News)
(NASDAQ: ORNBX - News) (NASDAQ: ORNCX - News)
If your stock broker / financial advisor told you that these were
safe funds, and you were a risk adverse investor, we may be able to
recover substantially all of your principal losses.
While there are class action(s) claiming that the fund(s) made
inadequate disclosures concerning its risks, the disclosures that we
saw, made it clear to us that the brokers that sold this fund to risk
adverse clients, were doing so at their own peril. Therefore, the better
claim and most likely to yield a
substantial return of your principal losses is to take your broker to
arbitration, rather than hope that the class actions yield a good
result. In truth, most class actions yield less than 10 cents on the
dollar. Class actions are not a suitable or appropriate strategy to
undertake if your losses exceeded $100,000 or more. We currently
represent client(s) with losses of over $1 million in these funds.
Please contact us as soon as
possible and learn whether or not we can help you recover losses from
the Rochester National Municipals Fund, ORNAX.
Attention Wachovia and First Clearing
Did your broker sell you risky
investments even though you never wanted to take a lot of risk?
Brokers are supposed to ask for a customer's risk tolerance up front,
and only recommend investments that fit.
Wachovia and First Clearing
recommended the risky investments that they wanted to sell, and then
changed their records to
reflect that risk was what the
Over 300,000 Wachovia brokerage customers had their investment
objectives changed, but were never sent a written notification of that
change from Wachovia – even though written notification was required.
Securities regulators have fined
Wachovia and First Clearing over $1 million for their failure to provide
required written notifications to over 800,000 of their customers whose
investment objectives were changed over the past 5 years. If you were
one of those customers, you might have a claim against Wachovia or First
Clearing for your investment losses.
If you lost money in your Wachovia
or First Clearing account,
give us a call!
Bitten by a 1031 TIC?
If you own real estate as a Tenant in
Common with a group of strangers; you got there with the help of a stock
broker; and you are now watching the property suffer financial
difficulties ... you are not alone.
CLICK HERE TO
LEARN MORE ABOUT HOW TO RECOVER YOUR
LOSSES IN 1031 TAX DEFERRED REAL ESTATE EXCHANGES PURCHASED AS TENANTS
Have you lost money in Commodities
We have filed several complaints over the last few months, where the
losses are in the $100-200k range and the commissions are in the $50,000
to $100,000 range for people trading commodities options. The reason why
the commissions are so high is that in a bull market the clients often
make money, but that is because they take small profits. When the
eventual big loss comes, the broker does not have big profits to offset
the big loss. That is why churning is a form of investment fraud that always ends up with the clients
losing. These brokers do the opposite of what they are supposed to do,
namely let your profits run and cut your losses short.
If you have suffered from this type of trading in your account, we
may be able to help you recover your losses. Please
contact us immediately for a free, confidential
Did you get "Churned and Burned"
by your Broker Dealer?
During the recent bull market, some of the smaller
broker dealers have engaged in excessive trading in their clients
accounts. We have filed some complaints with with losses of
$100,000 to $200,000 and total commissions of over $100,000! If
you think your broker excessively churned your account, please
contact us immediately for a free, confidential
consultation (Examples of smaller broker dealers are JP
Turner, Joseph Stevens & Co. and Oppenheimer.)
Hedge Fund Manager for Global Money Management LP
Embezzles Millions from Investors
The SEC has frozen the remaining assets of Global Money Management LP, a La
Jolla, CA based hedge fund with substantial connections to the San Francisco Bay Area.
Investors Recovery Service is already in the process of helping investor recover their
losses. Learn how we can help your recover your losses
from Hedge Fund Fraud.
We offer a FREE Review of your Investment Fraud or Stockbroker
To initiate our review of your case, please
FOR ADDITIONAL INFORMATION ABOUT OUR SERVICES OR
FOR A NO OBLIGATION CONSULTATION
CALL US TOLL FREE 800•285•8507 OR CLICK HERE
Investors Recovery Service is not a law firm