The Wall Street Legal & Regulatory Feed
Securities Industry Commentator by Bill Singer
November 1, 2017
NYC October 31, 2017 Terror Attack
In Memory of the Victims
In Honor of the Survivors
Man, woman caught having sex on flight to Detroit after meeting on plane / Officials say 48-year-old woman, 28-year-old man were strangers before flight (Video, ClickOnDetroit) https://www.clickondetroit.com/news/man-woman-caught-having-sex-on-flight-to-detroit-after-meeting-on-plane
When I fly, they lose my luggage. Then they want to overcharge me for inflight WiFi. As a lawyer, I find the allegations in this case very hard to swallow, so to speak. Of course, the litigator in me wonders whether they put the armrest up. You know, just sayin'.
Manhattan Man Pleads Guilty To Participating In Multimillion-Dollar Securities Fraud Scheme (Department of Justice Press Release 17-353) https://www.justice.gov/usao-sdny/pr/manhattan-man-pleads-guilty-participating-multimillion-dollar-securities-fraud-scheme According to the DOJ Press Release:
From at least in or about 2015 through in or about January 2017, MELI conducted a scheme to defraud more than approximately 130 investors who invested a total of more than approximately $95 million through false representations that MELI would use investor funds to purchase tickets to various live events for resale at a profit on the secondary market. In fact, MELI utilized a substantial portion of the investor funds he obtained for MELI's personal expenses - including payments for a $3 million house in East Hampton, New York, a 2017 Porsche convertible, and expensive watches and jewelry - and to make payments, in a Ponzi-like manner, to previous investors in MELI's ticket fraud scheme and in unrelated hedge fund.In furtherance of the fraudulent scheme, MELI falsely represented to investors that he had entered into written agreements with production companies for popular Broadway shows and with management companies for popular singers and music bands (together, the "Production and Management Companies") to purchase large blocks of tickets to the shows and performances. In truth and in fact, MELI had not entered into such agreements and did not have any contractual rights to purchase such tickets from the Production and Management Companies.In furtherance of the scheme, moreover, MELI provided investors with falsified documents purporting to reflect agreements between MELI's company, Advance Entertainment, LLC ("Advance"), and the Production and Management Companies, in which the Production and Management Companies agreed to sell Advance large blocks of tickets to the shows or performances. In truth and in fact, the Production and Management Companies had not entered into agreements to sell tickets to MELI or Advance. These fake agreements listed, as authorized representatives entering into the agreements on behalf of the Production and Management Companies, the names of individuals within those organizations, and furthermore contained fraudulent signatures of these individuals.
Meli pled guilty to one count of securities fraud, which carries a maximum sentence of 20 years in prison and a maximum fine of $5,000,000. Further, he agreed to forfeit proceeds of the offense and to pay restitution to the victims.
Paige Pierce For 2017 FINRA NAC Small Firm Member http://www.brokeandbroker.com/3647/paige-pierce-nac/
As a founder of the NASD / FINRA Dissident Movement and a 35-year industry veteran, I support Paige Pierce's candidacy for the 2017 FINRA Small Firm NAC Member and urge all FINRA Small Firm Executive Representatives to cast a ballot in support of her candidacy. With over 25 years of industry experience, Paige Pierce is in a unique position to effectively serve on the NAC. During her impressive career, she has gained the perspective necessary to understand the significant financial, compliance and regulatory challenges facing the industry's firms and employees. READ http://www.brokeandbroker.com/3647/paige-pierce-nac/