Howard S. Kleyman Charged by SEC | Recover Investment Losses

Howard S. Kleyman Charged by SEC | Goodman & Nekvasil P.A. May Recover Investor Losses

According to the SEC:  

On August 30, 2021, the Securities and Exchange Commission charged Howard S. Kleyman, of St. Paul, Minnesota, for his role in facilitating a fraudulent “prime bank scheme.” Kleyman was an attorney licensed to practice law in Minnesota until his recent disbarment by the Minnesota Supreme Court.

The SEC’s complaint alleges that Kleyman served as “paymaster” in at least nine transactions in which investors paid over $1.22 million in advanced fees to purchase, lease, and/or monetize purported bank instruments such as standby letters of credit or bank guarantees. As alleged in the SEC’s complaint, Kleyman disbursed investor funds, usually within days of receipt, without conducting any inquiry into whether the investors had received their promised instruments or funding. The complaint further alleges that Kleyman had no basis to believe that the purported bank instruments existed, or that they had any value. According to the complaint, Kleyman learned of many red flags suggesting that these transactions were fraudulent, which, in fact, they were. The complaint alleges that Kleyman collected $12,499 in fees from investors for the nine transactions for which he served as escrow agent.

Investors with Howard S. Kleyman May Recover their Losses with Goodman & Nekvasil, P.A.

If you invested with Howard S. Kleyman, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a St. Petersburg, FL law firm with a national practice representing victimized investors, has recovered more than $200 million dollars on behalf of victimized investors.

All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.

There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

If you incurred investment losses with Howard S. Kleyman and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.



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