SEC News
- SEC Charges Dallas-Based Trader With Front Running May 24, 2013FOR IMMEDIATE RELEASE2013-93 Washington, D.C., May 24, 2013 — The Securities and Exchange Commission today announced fraud charges and an asset freeze against a trader at a Dallas-based investment advisory firm who improperly profited by placing his own trades before executing large block trades for firm clients that had strong potential to increase the stoc […]
- SEC Charges Institutional Shareholder Services in Breach of Clients' Confidential Proxy Voting Information May 23, 2013FOR IMMEDIATE RELEASE2013-92 Washington, D.C., May 23, 2013 — The Securities and Exchange Commission today charged a Rockville, Md.-based proxy adviser for failing to safeguard the confidential proxy voting information of clients participating in a number of significant proxy contests. Additional Materials SEC Order An SEC investigation found that an employe […]
- SEC Charges City of South Miami with Defrauding Investors About Tax-Exempt Status of Municipal Bonds May 22, 2013FOR IMMEDIATE RELEASE2013-91 Washington, D.C., May 22, 2013 — The Securities and Exchange Commission today charged the City of South Miami, Fla., with defrauding bond investors about the tax-exempt financing eligibility of a mixed-use retail and parking structure being built in its downtown commercial district. Additional Materials SEC Order An SEC investiga […]
- SEC Charges Chicago-Area Father and Son Conducted Cherry-Picking Scheme at Investment Firm May 16, 2013FOR IMMEDIATE RELEASE2013-90 Washington, D.C., May 16, 2013 — The Securities and Exchange Commission today charged a father and son and their Chicago-area investment advisory firm with defrauding clients through a cherry-picking scheme that garnered them nearly $2 million in illicit profits, which they spent on luxury homes, vehicles, and vacations. Addition […]
- SEC Names Keith F. Higgins as Director of Division of Corporation Finance May 15, 2013FOR IMMEDIATE RELEASE2013-89 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today named Keith F. Higgins as the new director of the agency’s Division of Corporation Finance. Mr. Higgins comes to the SEC from the law firm of Ropes & Gray LLP where he is a partner in its Boston office with 30 years of experience advising public com […]
Argus Preferred Notes, LLC, are unsecured notes. Argus was a start up company that began with less than $100k in assets and had no real track record. The guarantor of the Argus note, ARI Capital, also was a start up and had no reported investment track record. Argus was a highly speculative start up that was pitched as safe and secure to its investors which later became defunct in 2009. The Argus note was pitched as backed by real property, guaranteed and secured and was allegedly falsely listed on some brokerage account statements as a short term bond.
At their own admission under the “Risk Factors” in their Argus Preferred Notes, LLC, Private Placement Memorandum, was the following:
“An investment in the notes is highly speculative and involves substantial risks. Notes should not be purchased by persons who cannot afford the loss of their entire investment. You should carefully consider the risks described below, as well as the other information in this memorandum, when evaluating whether to make an investment in the notes. You should also consult with your own legal, tax and financial advisors about an investment in the notes. If any of the following risks actually occur, our business, financial condition and results of operation could be materially and adversely affected. In such case you could lose all or part of your investment.
You and your advisors are invited to ask us questions and to request information about the terms and conditions of this offering for the purpose of evaluating the merits and risks of an investment in the notes. We will provide such information to the extent we possess the information or can acquire it without unreasonable effort or expense. This memorandum contains certain forward-looking statements that involve risks and uncertainties. ”
Also, words used in their own memorandum to describe their own product were: “New Venture, Speculative Investment, and Highly Leveraged.”
If you feel you were not made aware of some of the “fine print” by your brokerage or broker, and were an investor in Argus Preferred Notes, LLC, call a Securities Arbitration Lawyer for a free consultation on how you could potentially recover your losses. To speak with an attorney, call 888-760-6552, or visit www.stockmarketlawsuit.com. Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority.
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