An alleged $110 million Ponzi scheme based in Georgia and New York— but with influence reaching all the way to Mount Airy— took another step toward resolution earlier this month for some of its victims. Oppenheimer& Co., a New York- based brokerage and investment bank, was ordered to pay nearly $37 million in damages to 11 investors who lost money in the scheme,…

Attorneys for Forge Consulting, LLC said today that they're preparing to take legal action against disbarred South Carolina attorney Richard "Alex" Murdaugh and Bank of America. In a public statement released Monday, Forge's representatives say this action is in response to the "serious harm Murdaugh and Bank of America have done to the financial firm's…

If you have clients approaching retirement who are unsure of what to do with the wealth their investment properties have generated, here are some considerations that may help as you review their long-term goals and strategy.

Shawn Edward Good pleaded guilty Thursday to wire fraud and money laundering, according to a news release from the U.S. Department of Justice. A complaint filed by the Securities and Exchange Commission in April accused Good of running a decade-long "Ponzi scheme" that resulted in the loss of at least $2 million in investments. "We are cracking down on fraudsters…

The Keystone State's annual figure of $18,577— a total of more than $334,000 over 18 years— falls between Missouri and South Carolina. Washington, D.C., is the most expensive place to raise a child at an annual cost of $28,785— more than $518,000 over an 18- year period. The company used data from several organizations including the U.S. Census Bureau, U.S. Bureau of…

–Kaplan Fox& Kilsheimer LLP is investigating claims on behalf of investors of Kohl’ s Corporation.. On May 20, 2022, according to the complaint, Macellum Advisors GP, LLC, "a long-term holder of nearly 5% of the outstanding common shares of Kohl's," issued a statement addressing "his quarter's extremely disappointing results," which Macellum described as "simply a…

North Miami resident Daniel Cazola successfully hid his ownership of a Fort Myers company on paper. When Myers Professional was registered with the state in March 2021, Jose Antonio Fonseca Gutierrez was listed as president of Myers, which remains an active Florida corporation. Dec. 9, 2021, co-conspirator J.F.G. traveled to Cuba and has not returned to the…

WASHINGTON— U.S. inflation is showing signs of entering a more stubborn phase that will likely require drastic action by the Federal Reserve, a shift that has panicked financial markets and heightens the risks of a recession. Some of the longtime drivers of higher inflation— spiking gas prices, supply chain snarls, soaring used-car prices— are fading.

NEW YORK— The Dow Jones Industrial Average sank more than 1,000 points Tuesday as markets shuddered following Wall Street's realization that inflation isn't slowing as much as hoped. The hotter-than-expected reading has traders bracing for the Federal Reserve to ultimately raise interest rates even higher than expected to combat inflation, with all the…

SAN JUAN, Puerto Rico– Carlos Maldonado, owner of Business Planning Resources International Corporation, Glorimar Fashions and Tailoring, LLC, Global Business Insurance Agency Inc., and associated under the incorporation documents with Pet Card Systems, Inc., and Datavos Corporation, was sentenced today to 11 years and three months in prison for securities…

The Carolina Panthersplayed the Cleveland Browns Sunday afternoon at the Bank of America Stadium in their first game of the season. Anyway, let’ s dive into what else has happened in the Charlotte region lately. Wells Fargo has reached a settlement with the U.S. Department of Labor following an investigation into contributions made to the bank’ s 401 plan.

NEW YORK— Stocks climbed again Monday, as Wall Street made its final moves ahead of a high-stakes report that will hopefully show inflation hammered the economy less hard last month. The nation's punishingly high inflation, and the steps the Federal Reserve is taking to combat it, have been the driving forces on Wall Street all year. That in turn could allow the…

You probably won't see it on your calendar, but September is Life Insurance Awareness Month. And it is indeed important to be aware of the importance of life insurance. About 40 percent of Americans face some type of life insurance gap, either because they're uninsured or underinsured, according to a 2021 survey by the research and advocacy groups LIMRA and Life…

Mortgage rates and home prices are high. Housing prices, of course, vary by market, but on a national level, they have climbed steadily since the 1960 s, according to data from the St. Louis branch of the Federal Reserve. Mortgage rates, which have basically doubled from 2.9% a year ago to 5.89% as of Sept. 8, are a factor, but waiting for rates to drop is a dangerous game.

Arkells is also listed as a principal with a purported real estate investment firm in Redondo Beach but does not hold any securities licenses and has never been a registered broker, according to the SEC. The SEC is requesting that Arkells be ordered to pay undisclosed civil penalties and seeks an injunction preventing him from purchasing or selling…

In Patricia Highsmith's 1955 novel "The Talented Mr. Ripley," a con man who convinces the elites that he's a Princeton graduate goes on to dupe his way into high society and spend lavishly at high-end stores through forgery and other unscrupulous methods. The federal government and South Florida law enforcement say that untold billions are now stolen from…

WORCESTER— A Sutton financial adviser authorities said duped clients of $2.8 million and then continued to deceive one of them after being charged pleaded guilty Thursday to the resulting charges in federal court. James K. Couture, 42, pleaded guilty in U.S. District Court in Boston to four counts of wire fraud, four counts of aggravated identity theft, one count…