Securities Fraud Investigation – Legal Coverage Group Ltd.
Are you concerned about your investment in Legal Coverage Group Ltd.? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
According to a press announcement on March 28, 2019, the owner of Legal Coverage Group, Ltd., a business in Bala Cynwyd, PA was reportedly charged by indictment with wire fraud, bankruptcy fraud, and money laundering, stemming from a massive fraudulent loan scheme.
According to the indictment, the defendant, Gary Frank, allegedly executed a complex and sophisticated scheme to defraud numerous victims between 2006 and 2017. The defendant purportedly owned and operated Legal Coverage Group which contracted with employers desiring to offer a legal plan to their employees as part of their employee benefits plans.
According to the indictment, the defendant’s largest victims were banks and financial institutions, which reportedly loaned the company millions of dollars based upon the defendant’s fraudulent misrepresentations and falsified documents.
The defendant also allegedly deceived many individuals and other entities, including several of his close friends, his company’s staff members, its advisors, customers, vendors, and local charities.
Upon information and belief, some FINRA registered representatives reportedly sold Legal Coverage Group, Ltd to investors.
Securities Fraud Investigation
The White Law Group is investigating the liability that FINRA registered brokerage firms may have for unsuitably recommending Legal Coverage Group Ltd. to investors.
Brokerage firms are required to perform due diligence on any offering they recommend and to ensure that all recommendations made are suitable in light of the client’s age, investment experience, net worth, income, and investment objectives.
If a firm fails to perform due diligence or makes an unsuitable recommendation, the broker-dealer can be held responsible for any losses in a FINRA arbitration claim.
FINRA can help resolve problems and disputes through two non-judicial proceedings: arbitration and mediation. FINRA’s Dispute Resolution forum handles nearly all of the securities-related arbitrations and mediations in the United States.
If you have concerns regarding your investment in Legal Coverage Group Ltd. and would like to speak with a securities attorney about your options, please call The White Law Group at 888-637-5510.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.
Tags: fraud scheme, Legal Coverage Group class action, Legal Coverage Group Ltd. complaints, Legal Coverage Group Ltd. investigation, Legal Coverage Group Ltd. investment losses, Legal Coverage Group Ltd. lawsuit, SEC, securities fraud attorney Last modified: August 27, 2019