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Fight Investment Fraud

Greco & Greco's lawyers represent investors to recover losses caused by securities fraud, churning, lack of suitability, negligence, sales of unregistered securities, unauthorized trading, and other misconduct by stock brokers, investment advisors, financial planners and their firms.

The Receiver appointed by the US District Court in Florida regarding the case against Kenneth Wayne McLeod and the Federal Employee Benefits Group Bond Fund (FEBG) has filed his initial report to the Court.  It can be found here.  Although the receiver is in the process of reviewing hundreds of boxes of documents, the initial findings regarding assets are not promising.  Reference is made to five pieces of real estate, but the amount of equity, if any, in the properties is unclear.  Furthermore, the bank and brokerage accounts found and frozen at this time only account for approximately $90,000.  The ponzi scheme allegedly involved over $34,000,000 invested by mostly government employees.

In his report, the Receiver encourages victims to contact their own attorneys to discuss potential claims against third parties.  As set out in our previous blog post, Mr. McLeod was a FINRA registered representative of Lincoln Financial Securities Corporation until May, 2010.  Prior to Lincoln, Mr. McLeod was FINRA registered with Capital Analysts, Incorporated and Washington Square Securities.  FINRA firms have legal responsibilities to supervise their registered representatives, and further may be found liable for the wrongful actions of their agents. If you are a victim of the FEBG bond fund ponzi scheme, and you would like to discuss legal options with an attorney, please contact Greco & Greco for a free consultation with one of our lawyers.

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Representing Harmed Investors Nationwide

Although Greco & Greco is based in the Mid-Atlantic Region, our attorneys represent harmed investors against their stockbrokers and financial advisors Nationwide. For promising cases, we will fly to meet with potential clients at our own cost.