Category Archives: lawsuits

K2 News Update With Robert Banks

“The human tragedy here is what you don’t see when you read the news.”

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Banks Files Objection

Aequitas Update From Robert Banks on March 20, 2016

As a part of its securities fraud lawsuit against defendants Aequitas, Robert Jesenik, Brian Oliver and Scott Gillis, the SEC and the defendants stipulated (agreed) to the entry of an Interim Order Appointing a Receiver.  The Interim Order appoints a receiver to take over the operations and liquidation of Aequitas.  And, it stays (stops) any pending or anticipated litigation brought by any  parties except the Receiver against the SEC defendants and a host of other entities called the “Receivership Entities.”    We are posting a copy of the Interim Order here.  The court allowed parties until March 18 to file objections to the Interim Order.

Filed Objection

We filed  an objection seeking permission to pursue their claims against defendants we believe our responsible for our clients’ losses.  Many of them are identified in our objection which is posted here.  We have already filed one case against a Registered Investment Advisory Firm and its president.  That case is not affected by the Interim Order.  Some of the other defendants we intend to bring claims against are currently protected by the Interim Order, however.   We argue in our objection that our clients have lost $11 million, and that they should be able to bring their individual claims to recover their losses.   Our investigation reveals that there were many people and companies who helped Aequitas to implement its plan to sell high risk promissory notes and funds by misrepresenting that they were safe and secure and our clients want us to hold them accountable.  The defendants include law firms, accountants, broker-dealers, custodians of Aequitas notes, and individuals who participated in the scheme.  A second part of our objection asks the court to require the Receiver to consider costs when  hiring professionals to assist him, because the senior partners at the law firms the Receiver has already  selected to help wind down the Aequitas entities have billing rates of higher than $825 per hour.   Our objection was filed with the court on March 18, 2016.   We are hoping for a decision from the court in the next two or three weeks.

If you have questions, concerns, or information about Aequitas investments, please contact our office at 800.647.8130. Our home page gives an introduction to this informational site and you may review our extensive credentials and experience here.

 

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Aequitas- Koin 6 News

Bob Banks, securities attorney with Samuels, Yoelin, Kantor LLP speaks with Koin 6 News last week about the impact of the Aequitas situation on investors

 

If you have questions, concerns, or information about Aequitas investments, please contact our office at 800.647.8130. Our home page gives an introduction to this informational site and you may review our extensive credentials and experience here.

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Aequitas Investigation – Financial Advisers and Firms

It is tragic to consider the number of people impacted by the Aequitas situation. We have received calls from all around the world from people who have lost significant amounts of money. We have posted  (below) a partial list of financial advisors and firms mentioned in our conversations with victims. We encourage anyone with financial losses or information about this situation to contact us at 800-647-8130 or by e-mail at info@investordefenders.com.
If you’ve lost money in this situation, it is important for you to take make choices about your actions soon. Please read our posts about your choices and contact our office to discuss the specifics of your situation.
Bob Banks and Darlene Pasieczny head up the Investor Defenders practice group at Samuels Yoelin Kantor LLP. Bob has over three decades of experience representing investors to recover financial losses. You can reach him directly at bbanks@samuelslaw.com

Fariba Ronnasi

Fusion Analytics Investment Partners

Malloy Wealth Management

Bill Malloy

Doug Maurer

Private  Advisory Group

Jason Vanclef

VFG Securities

VFG Advisors

Fieldstone Financial

Kristopher Behn

Enviso Capital

Criterion

Chris Bean

Douglas Bean

Consort

Tom Szabo

Bryan Bowers

Tony Ramirez

Mark McArthur

Bill Mallery

Larry Dozier

Craig Johnsen

Eric Willer

Malloy Wealth Management

Etesian Wealth Advisors

If you have questions, concerns, or information about Aequitas investments, please contact our office at 800.647.8130. Our home page gives an introduction to this informational site and you may review our extensive credentials and experience here.

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Banks noted as key face in the Aequitas Drama

Portland Business Journal touts Samuels Yoelin Kantor securities attorney Robert Banks as key face in Aequitas Drama

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If you have questions, concerns, or information about Aequitas investments, please contact our office at 800.647.8130. Our home page gives an introduction to this informational site and you may review our extensive credentials and experience here.

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Aequitas Lawsuits – how to choose

If I choose to be in and Aequitas lawsuit, which one should I choose?

The good news is that all of the lawyers and law firms who have been reported by the press as representing Aequitas investors are excellent law firms. Based on what we have heard, there are two basic approaches that law firms are taking.

1.  Some investors were referred to their lawyers by the same investment advisors that sold them their Aequitas investments.Those law firms will probably not be able to bring claims against the investment advisors who referred the clients to them. They may have some advantage in that they will be representing large numbers of investors in claims against Aequitas officers and directors, accountants and lawyers that may have participated in the sale of the Aequitas investments. The disadvantage to being part of these cases is that investors who sign up with these law firms will likely be prevented from bringing claims against financial advisors who may have sold the Aequitas notes by misrepresenting the risks and characteristics of the notes that they sold.

2. Our firm has taken a different approach. 

We are evaluating two avenues of recovery for our clients. FIRST, we will be filing claims against the investment advisors that sold Aequitas products to our clients. We will not make any agreements with any investment advisors who sold Aequitas, because we intend to bring claims against investment advisors who breached their fiduciary duties to their clients in selling Aequitas. Not every investor has such a claim. But, investors who were told by their investment advisors that these were safe investments, those who were solicited to make their purchases recently, and those who invested an unsuitable percentage of their retirement money in Aequitas and other “alternative investments” have strong claims against their advisors that ought to be evaluated. Many of those claims will be prosecuted in arbitration (instead of court) because of a provision in the investment advisory agreements. Our firm is limiting the number of clients we can accept against any one investment advisory firm, but we are reviewing claims against several different advisors in a number of states. SECOND, we also intend to pursue additional claims in court for our clients in court against other defendants who participated, aided and controlled the persons who sold the Aequitas investments. This may include officers and directors of Aequitas, its accountants, lawyers, and companies that were involved in the management of client funds held at investment advisory firms that had a connection to Aequitas.

Samuels Yoelin Kantor securities attorneys Robert Banks and Darlene Pasiczny are heading up the Aequitas investigation. Mr. Banks recently updated concerned investors with information regarding their choices for pursuing recovery. Please contact our office to discuss your situation confidentially. You can call 800-647-8130 or reach us by email atbbanks@samuelslaw.com or info@investordefenders.com

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