Elderly investors have frequently been targeted by rogue stock brokers, along with salesmen who do not even possess a license that allows them to sell securities.  In response to the widespread character of the deceptive practices that have been directed at seniors (to include older workers who are about to retire), securities industry regulators have placed a special focus on this area for more than a decade.  Along those lines, the Securities and Exchange Commission (“SEC”), the Financial Industry Regulatory Authority (“FINRA”), and the North American Securities Administrators Association (“NASAA”) have periodically announced initiatives designed to protect senior investors.  Regulators have also placed a special emphasis on instituting enforcement proceedings against those who have allegedly taken advantage of senior citizens.

According to regulatory authorities, actions that have been directed at those who have allegedly deceived or harmed senior investors, or have otherwise involved purported violations of securities regulations, include the following:

  • SEC enforcement action brought against brokers who persuaded senior investors to purchase high-risk securities by representing that the investments had little or no risk;
  • state regulatory proceeding initiated against stockbroker who advised clients to purchase interests in “risky oil and gas ventures”;
  • brokerage firm expelled from NASD (n/k/a FINRA) membership after it induced “seniors into making highly risky” investments that led to losses of over $10 million;
  • charges brought against individuals who raised $45 million from investors, to include seniors, in connection with the sale of “prime bank” securities when the underlying “prime bank program did not exist”;
  • SEC case filed in connection with conduct that involved “high-pressure sales tactics and . . . false representations to investors in order to sell shares” of a particular penny stock, wherein “investors, many of whom were seniors, lost over $6.8 million”;
  • disciplinary proceeding brought against brokers “who used high-pressure sales tactics, fraudulent misrepresentations, baseless price predictions, and omissions of material facts” in connection with efforts “to persuade investors — many of whom were seniors — to purchase” speculative securities.

It is important to keep in mind that the financial services industry employs numerous honest, forthright people who consistently go to great lengths to advance the interests of their clients; deceptive or misleading conduct involving select individuals or entities should not be allowed to unfairly tarnish the industry as a whole.  Additionally, it must be remembered that allegations which have been made by regulatory authorities are not evidence; such allegations do not constitute proof of wrongdoing.  And, even if such allegations are accepted at one level, that decision may be reversed on appeal.

If you believe that you are a victim of misleading or deceptive representations, contact Chris Bebel.  Mr. Bebel is an experienced attorney and a talented trial lawyer.  Mr. Bebel is a former federal prosecutor and a former SEC attorney who has concentrated on investment fraud cases for roughly 30 years.  He works closely with Bradley Ellison, who previously served as a master sergeant, U. S. Air Force.  Mr. Ellison is currently pursuing his third master’s degree.  Mr. Bebel, Mr. Ellison, and other Tefteller Law, PLLC personnel work as a team to represent the interests of investors who have sustained losses.  Caveat: During the course of his career in private practice, Mr. Bebel has turned down numerous cases based on a wide array of considerations.  Neither Mr. Bebel nor any other reputable attorney can promise you that he will accept your case.

Mr. Bebel has, for many years, represented investors situated throughout the country, including investors residing in the following states:  Texas, Kansas, New York, Indiana, Minnesota, New Jersey, California, Colorado, Florida, Oklahoma, Arkansas, and Iowa.

Mr. Bebel has provided instructive presentations addressing an array of securities industry topics to lawyers and securities industry professionals in the following cities: Fort Myers, FL; Colorado Springs, CO; Toronto, Ontario; New York, NY; Tucson, AZ; San Diego, CA; Jacksonville, FL; Houston, TX; Dallas, TX; and San Antonio, TX.

Mr. Bebel has been published through the following:  Public Investors Arbitration Bar Association, Oklahoma City, OK; West Virginia Law Review, West Virginia University; South Texas College of Law, Houston, TX; Louisiana Law Review, Louisiana State University; Practicing Law Institute, New York, NY; Texas Tech Law Review, Texas Tech University (voted Best Article of the Year by Texas Tech Law Review editors); and the State Bar of Texas, Austin, TX.

Mr. Bebel has served as a visiting lecturer on securities law principles at the following institutions:  Texas Tech University School of Law, Lubbock, TX; Baylor University School of Law, Waco, TX; Mitchell Hamline School of Law, St. Paul, MN; the FBI Academy, Quantico, VA; and the University of Houston Law Center, Houston, TX.