212-227-8877
  • Attorneys
    • Joseph Tacopina
    • Chad Seigel
    • Matthew Deoreo
  • Practice Areas
    • Criminal Law
    • Civil Litigation
  • Notable Cases
  • Firm Overview
  • Featured Press
  • Media
    • TV Appearances
    • Radio Mentions
    • International Press
    • In The News
    • Thought Leadership

Securities Fraud: When Pennies Count

By Joseph Tacopina Published September 20, 2014
Criminal Defense, Securities Fraud
Tags: ponzi scheme, SEC, securities fraud

Most securities fraud cases involve significant thefts from individual victims, like the alleged $64 billion Ponzi scheme run by Bernie Madoff. However, some cases show that fraudulent conduct involving small amounts of money can add up to millions of dollars of illicit profit if the conduct is allowed to continue over a long period.

The Justice Department recently charged two former brokers at the New York office of Linkbrokers Derivatives with securities fraud and conspiracy for adding a few pennies to the cost of each individual trade processed by the firm. The Linkbrokers firm is not named in the suit, but one trader wore a wire to record incriminating statements made by his co-workers. He has entered a guilty plea and is cooperating with the government’s case.

The firm executed trades for high-volume clients, including hedge funds, and in these situations, the way to get the best price for the client is to quickly execute their trades when prices are favorable. The brokers are accused of charging a slightly higher price or lower price than the best price available at the moment, and then hiding the real cost of the trade from the client. The brokers mispriced some 36,000 trades between 2006 and 2010.

If you have questions about your securities account, call [ln::firm_name] As this case shows, even small differences in the price of each trade added to your account can make you a victim of a serious case of securities fraud.

footer footer-mobile

Let the best
in the business

defend you.

Call us for a free consultation 24/7

PHONE
212-227-8877
ADDRESS

275 Madison Avenue, 35th Floor,
New York, New York 10016

Background Image Background Image
  • Firm Overview
  • Attorneys
  • Practice Areas
    • Criminal Law
    • Civil Litigation
  • Notable Cases
    • Notable Criminal Cases
    • Notable Civil Cases
  • Media
    • Thought Leadership
    • Featured Press
    • In The News
  • Contact
  • Privacy
  • facebookFacebook
  • twitterTwitter
  • linkedinLinkedIn
  • instagramInstagram
  • lawyersLawyers.com

Tacopina Seigel & DeOreo is located in New York, NY and serves clients in and around New York, Long Island City, Sunnyside, Astoria, Brooklyn, Woodside, Maspeth, Middle Village, Jackson Heights, Elmhurst, Ridgewood, East Elmhurst, Bronx, Rego Park, Corona, Forest Hills, Woodhaven, College Point, Ozone Park, Jamaica, Howard Beach, Bronx County, Kings County, New York County and Queens County.

Attorney Advertising. This website is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. [ Do Not Sell My Personal Information ]

© 2023 Tacopina Seigel Trial Lawyers
Design by SPINX Digital