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Client Reviews
- "I was very pleased with Mr. Meyer’s handing of my arbitration claim. Throughout the process, I felt that I was treated with respect and I always appreciated the extra effort David Meyer and his staff put forth to recover the money my stockbroker had lost. They did a tremendous job and when it was over, David was able to get back a lot more money for me than I ever expected. I have kept the firm’s number handy and would tell anyone that has been a victim of stockbroker misconduct to contact Meyer Wilson." C.F., Ohio
- "Thankfully, we hired the law firm of Meyer Wilson - they skillfully guided us through the NASD (now FINRA) arbitration process and achieved an outstanding recovery for us. We do not know what we would have done without their help..."Mr. and Mrs. R.Springfield, Ohio
- "Mr. Meyer and his staff was always professional and responsive to my calls and they really took their time with me to review paperwork and make sure that I remained well informed throughout the process. I feel like Mr. Meyer not only helped me to recover my investment losses, but he also helped me to get justice for my late husband..." J.S., Ohio
Recent Blog Posts 
- Ohio Investors to Recover Money in 725 Million Dollar AIG Settlement2/22/2012
- Receiver Appointed in Ohio Securities Fraud Case2/22/2012
- Columbus Investment Fraud Lawyer Looks at Case with New OH Defendants2/20/2012
- Possible Ponzi Scheme Warning Signs Present Before Mazella Trial2/11/2012
- Securities Fraud and President Obama’s 2012 State of the Union Speech2/11/2012
- More Delays in $20M Ohio Ponzi Scheme Case2/6/2012
Read the latest news relating to investor claims and broker fraud.
Want to know more about cases similar to your own? We have the latest news about investment fraud cases. Contact our office for a free case evaluation, if you have lost money due to the actions of your broker and/or brokerage firm.Unsuitability
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Ohio Lawyer Explains FINRA's Complaint against David Lerner Associates
Jun 09, 2011Last week, the Financial Industry Regulatory Authority (FINRA) initiated a complaint against David Lerner Associates, Inc. The complaint alleges that David Lerner Associates solicited investors to purchase shares of a real estate investment trust (REIT) without conducting a reasonable investigation into whether the investment was suitable for specific investors. It further alleges that David Lerner Associates provided misleading information on its website about the REIT and that the firm specifically targeted “unsophisticated and elderly customers with unsuitable sales of the illiquid security.”
David Lerner Associates is the sole underwriter for Apple REIT Ten, a non-traded $2 billion real estate investment trust that invests in extended stay hotel properties. In the first five months of 2011, the firm sold $300 million of the $2 billion offering. FINRA alleges that since at least 2004, the closed Apple REIT shares have been valued at $11 per share regardless of what was happening in the market, the economic downturn of the commercial real estate market, or the increased leverage against the properties. Investors were allegedly provided with misleading information about the REIT and other Apple REITs sold by the firm.
David Lerner Associates has denied the claims, and a FINRA hearing is possible.
About Our Law Firm
The law firm of Meyer Wilson represents clients who have been harmed by Ohio investment fraud. We have written a book that you can order for FREE entitled Five Signs of Investment Fraud…And What to Do if It’s Happened to You.
If you have lost money or had your investments frozen in the Apple REIT recommended by David Lerner Associates, contact an Ohio investment fraud attorney by calling 614-224-6000 locally or 866-827-6537 toll free. -
How David Lerner Associates Allegedly Misled Investors
Jun 09, 2011On May 31, 2011 the Financial Industry Regulatory Authority (FINRA) filed a formal complaint against David Lerner Associates, a firm based in Syosset, New York. The complaint alleges David Lerner Associates sold shares of Apple REIT Ten to investors in a way that may have been misleading and without conducting a reasonable investigation into whether the investment was suitable for investors.
Specifically, FINRA alleges that the actions of David Lerner Associates may have been misleading because the David Lerner Associates website contained information about the distribution rates for all of the previous Apple REITs. According to FINRA, the rates were misleading because important information was left out. For example, FINRA alleges that information about recent distribution rate reductions, distributions far exceeding income, and debt that leveraged the REITs was left off the website.
David Lerner Associates has reportedly denied these allegations.
About Our Law Firm
The law firm of Meyer Wilson represents clients who have been harmed by Ohio investment fraud. We have written a book that you can order for FREE entitled, Five Signs of Investment Fraud…And What to Do if It’s Happened to You.
If you have lost money or had your investments frozen in the Apple REIT recommended by David Lerner & Associates, contact an Ohio investment fraud attorney by calling us at 614-224-6000 or toll free at 866-827-6537. -
Man Sentenced for Multimillion Dollar Investment Fraud Scam
Feb 11, 2012Last March, Algird M. Norkus pleaded guilty to mail fraud charges and admitted that he provided false information to investors. Specifically, Mr. Norkus reportedly admitted that he told investors that his company Financial Update would guarantee dividends and provided false IRS forms showing interest to them.
Federal prosecutors alleged that that information was false and that Mr. Norkus took money from newer investors to pay older investors dividends in a Ponzi-like scheme. Additionally, prosecutors accused Mr. Norkus of using some of the money for his own benefit.
Last month, Mr. Norkus was sentenced for these alleged crimes. Specifically, he was sentenced to 63 months in federal prison and ordered to pay more than four and a half million dollars in restitution.
About our law firm:
The only Ohio law firm that is exclusively dedicated to individual investor claims and class-action cases is the Law Firm of Meyer Wilson. Our Columbus investment fraud attorneys have successfully represented investors all throughout Ohio in securities arbitration, mediation, and litigation claims against stockbrokers, brokerage firms, and financial advisors.
We handle all of our cases on a contingency fee, and we do not request retainers of any kind from our clients. To schedule a free consultation with an experienced Ohio investment fraud attorney, please call us today at 614-224-6000 or toll-free at 1-866-827-6537.
We also welcome you to read our book for more information about your rights and potential recovery: Five Signs of Investment Fraud... And What to Do if it's Happened to You. The book can be found, free of charge, on our website. -
Brokerage Firm Settles Inadequate Supervision of Stockbroker Claim
Feb 10, 2012St. Louis-based investment brokerage firm Stifel Nicolaus & Co has reached a settlement with the state of Missouri. According to the terms of the settlement, Stifel Nicolaus will pay $1.1 million on charges that the firm inadequately supervised a stockbroker who allegedly conducted a pyramid scheme to defraud investors.
Approximately half of the settlement will go to the investors hurt in Missouri and three other states. The majority of the rest of the settlement will go to the Missouri Investor Education and Protection Fund, with a relatively small portion going to the Missouri Securities Division to cover its investigation costs.
The stockbroker who allegedly conducted the pyramid scheme was sentenced in February 2010 to 37 months in prison.
About Our Firm:
The Law Firm of Meyer Wilson is the only Ohio investment fraud law firm that is exclusively dedicated to individual investor claims and class actions. Our Columbus investment fraud lawyers have successfully represented investors throughout the state in securities arbitration, mediation, and litigation claims against the stockbrokers, brokerage firms, and financial advisors whose negligent or deliberate illegal actions caused them harm.
To schedule a free consultation with an experienced Ohio investment fraud attorney, please call us today at 614-224-6000 or toll-free at 1-866-827-6537. All of our cases are handled on a contingency fee, and we do not request retainers of any kind.
We also invite you to read our FREE book Five Signs of Investment Fraud... And What to Do if it's Happened to You to learn more about your rights and potential recovery. -
Woman Sentenced for Role in Multimillion Dollar Ponzi Scheme
Feb 06, 2012Elizabeth Baldwin, of Middletown, Rhode Island, was sentenced for her alleged role in a multimillion Ponzi scheme last month. Shortly before the trial was scheduled to begin, Elizabeth, also known as Liza, reached a plea agreement with the government in which she agreed to serve eight years in state prison and pay almost eight million dollars in restitution. The judge originally sentenced her to 30 years in prison but suspended 22 years of her sentence.
The original charges against Ms. Baldwin included obtaining money under false premises, computer fraud, embezzlement and passing a bad check. Ms. Baldwin has apologized for any pain that she caused.
The only Ohio law firm that is exclusively dedicated to individual investor claims and class actions is the Law Firm of Meyer Wilson. Our Ohio investment fraud attorneys have successfully represented investors all throughout the state in securities arbitration, mediation, and litigation claims against the stockbrokers, brokerage firms, and financial advisors who caused them financial harm because of wrongdoing, fraud, negligence, or other types of investment fraud.
About our law firm:
At The Law Firm of Meyer Wilson, we handle all of our cases on a contingency fee, and our Columbus securities fraud attorneys do not request retainers of any kind. To schedule a free consultation with an experienced Ohio securities fraud attorney, please call us today at 614-224-6000 or toll-free at 1-866-827-6537. We also invite you to read our FREE book for more information about your rights and potential recovery: Five Signs of Investment Fraud... And What to Do if it's Happened to You.
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Receiver Appointed in Ohio Securities Fraud Case
Feb 01, 2012A receiver has been appointed to recover Wayne T. Essex’s business assets for the purposes of distribution, according to a Jan. 30 Ohio Department of Commerce Information Release.
The action is a step forward in the securities fraud case brought against Essex and his companies – Essex and Associates, Inc., Essex HR & Associates, Inc., and HR Reconciliation, LLC –in Dec. 2011. A temporary restraining order issued by Montgomery County Common Pleas Court Judge Mary Wiseman in Dec. barred them from selling or offering securities, as well as destroying evidence of their allegedly fraudulent activities
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The order was issued in response to a Complaint filed last year by the Ohio Division of Securities. The Complaint accused Essex of committing securities fraud, selling securities without a license, and selling $1.1 million worth of unregistered securities to twenty investors from July 6, 2010 to Nov. 23, 2011. (For more information about the case, please see our Jan. 2 blog post.)
About Our Law Firm:
The law firm of Meyer Wilson is the only Ohio law firm that is exclusively dedicated to individual investor claims and class actions. We have successfully represented investors all throughout Ohio in securities arbitration, mediation, and litigation claims against the stockbrokers, brokerage firms and financial advisors. All of our cases are handled on a contingency fee and we do not request retainers of any kind.
To schedule a free consultation with an experienced Ohio investment fraud attorney, please call us today at 614-224-6000 or toll-free at 1-866-827-6537. We also invite you to read our FREE book for more information about your rights and potential recovery: Five Signs of Investment Fraud... And What to Do if it's Happened to You. -
Did Prominent Real Estate Investor Run an Affinity Fraud Ponzi Scheme?
Jan 31, 2012For almost three decades, Gaston Cantens was president of Royal West Properties and a prominent member of his community. However, when the Florida real estate market began to fall, Mr. Cantens allegedly lied to his investors about the financial health of his company and their investments.
Specifically, it is alleged that Mr. Cantens began to pay older investors with money from newer investors in a classic Ponzi scheme. Approximately $47 million is said to be outstanding.
Some of the investors who claim to be harmed by this alleged fraud include Belen Jesuit School, elderly individuals, and high-profile people and institutions in the South Florida area. The SEC has called Cantens’ alleged scheme a classic affinity fraud, since he allegedly preyed on his own connections in the community.
Mr. Cantens has pleaded guilty to one count of conspiracy to commit wire fraud and faces five years in prison, 3 years of probation, and approximately $94 million in damages.
About our law firm:
The Ohio law firm of Meyer Wilson is the only firm in the state of Ohio that is exclusively dedicated to individual investor claims and class-action lawsuits. Our Columbus investment fraud lawyers have successfully represented investors throughout Ohio in securities arbitration, mediation, and litigation claims.
All of our cases are handled on a contingency fee, and we do not request retainers of any kind. To schedule a free consultation with an experienced Cleveland stockbroker fraud attorney, please call us today at 614-224-6000 or toll-free at 1-866-827-6537. We also invite you to read our book Five Signs of Investment Fraud... And What to Do if it's Happened to You. The book is available free of charge on our website. -
48-Year-Old Father Sentenced to 10 Years for Alleged Ponzi Scheme
Jan 30, 2012Earlier this month, 48-year-old Travis Wright was sentenced to 10 years in federal prison for his part in an alleged multimillion dollar Ponzi scheme. Additionally, Mr. Wright was ordered to repay $43 million still owed to investors.
According to the government, Mr. Wright promised investors a 44% return on their investments. However, he allegedly started losing money almost immediately and was using money from newer investors to pay older investors. Additionally, he was accused of taking about $15 million for his own use. That money was allegedly used to purchase and renovate an extravagant home and to take African safaris.
Mr. Wright’s oldest son spoke on his father’s behalf at his sentencing and pleaded for leniency, claiming that Mr. Wright was a good father and a Boy Scout leader. Mr. Wright is currently scheduled to report to prison on March 5th.
About our law firm:
The Law Firm of Meyer Wilson is the only Ohio law firm that is exclusively dedicated to investor lawsuits. Our experienced Cleveland stockbroker fraud lawyers have successfully represented investors throughout the state in securities arbitration, mediation, and litigation claims. All of our cases are handled on a contingency-fee basis, and we do not request retainers of any kind.
To schedule a free consultation with an experienced Cleveland stockbroker fraud attorney, please call 614-224-6000 or 1-866-827-6537 today. We also invite you to read our FREE book Five Signs of Investment Fraud... And What to Do if it's Happened to You for more information about your rights and potential recovery. -
Federal Court in Ohio Issues Ruling in Investment Fraud Case
Jan 10, 2012In November 2011, the US District Court for the Northern District of Ohio entered final judgments against Steven R. Long and Stanley M. Paulic in an action brought against the men by the Securities and Exchange Commission (SEC).
The SEC’s action alleged that Mr. Long and Mr. Paulic founded Integrity Financial AZ, LLC (IFAZ) and, with the help of others, raised more than $8 million through the fraudulent unregistered offering of promissory notes, which they claimed were secured by real estate in Arizona.
The District Court granted the SEC’s motion for summary judgment in the case and found that both men knowingly made misrepresentations of material facts to investors. Mr. Long was found liable for $1,481,736, plus prejudgment interest in the amount of $97,723.32 and a civil penalty in the amount of $1,465,306. Mr. Paulic was found liable for disgorgement in the amount of $586,225, prejudgment interest in the amount of $38,662.65, and a civil penalty in the amount of $586,225. Additionally, IFAZ was found liable for disgorgement in the amount of $5,598,717, prejudgment interest in the amount of $429,403.44, and a civil penalty in the amount of $650,000.
About our law firm:
The Law Firm of Meyer Wilson is the only law firm in Ohio that is exclusively dedicated to investor claims and lawsuits. We have successfully represented investors all throughout Ohio in securities arbitration, mediation, and litigation claims against the stockbrokers, brokerage firms, and financial advisors.
To schedule a free consultation with an experienced Columbus investment fraud attorney, please call us today at 614-224-6000 or toll-free at 1-866-827-6537.
We also invite you to read our FREE book for more information about your rights and potential recovery: Five Signs of Investment Fraud... And What to Do if it's Happened to You. -
Feds Charge Two Men in Alleged Multimillion Dollar Ponzi Scheme
Jan 09, 2012An alleged pyramid of Ponzi schemes resulted in the indictments of two men last month. Robert L. Holloway and Robert J. Andres both face federal indictments for their alleged roles in the investment scam.
Mr. Holloway’s indictment accuses him of directing a fraudulent commodities trading venture that took in at least $25 million. The indictment indicates that he lost more than $10 million of investors’ money, used money from newer investors to pay off older investors in a classic Ponzi scheme, and misappropriated more than $1 million of investor money for his own use.
Mr. Andres’ indictment accused him of raising about $71 million for a Ponzi scheme related to his Winsome Investment Trust and misappropriating more than $2 million of investor money for personal use.
The court appointed receiver estimates that there are about 425 investors affected by this alleged scheme in the US and Canada.
About our law firm:
The Law Firm of Meyer Wilson is the only law firm in the state of Ohio that is exclusively dedicated to individual investor claims and class actions. Our Columbus investment fraud lawyers have successfully represented investors throughout the state in securities arbitration, mediation, and litigation claims against the stockbrokers, brokerage firms, and financial advisors who caused them harm.
To schedule a free consultation with an experienced Columbus investment fraud attorney, please call us today at 614-224-6000 or toll-free at 1-866-827-6537. All of our cases are handled on a contingency fee, and we do not request retainers of any kind.
Our lawyers also invite you to read our FREE book for more information about your rights and potential recovery: Five Signs of Investment Fraud... And What to Do if it's Happened to You.
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- Our six lawyer firm is devoted solely to investor claims and class actions.
- Every securities arbitration/litigation client that hires our firm is assigned two lawyers to their case.
- Our lawyers have over 50 years of collective legal experience.
- Mr. Meyer won the largest jury verdict ever in the state of Ohio - $260 million verdict against Prudential Securities.
- The firm employs a full time investigator on staff.