John Maccoll – John Cochran Maccoll, Charged by SEC | Goodman & Nekvasil P.A. May Recover Investor Losses
John Maccoll, John Cochran Maccoll CRD # 839441
Securities and Exchange Commission Charges John Maccoll, Formerly Licensed with UBS Financial Services, Inc.
The Securities and Exchange Commission announced that it has charged John Maccoll, a former registered representative with UBS Financial Services, Inc. with defrauding his brokerage customers out of nearly $4 million in a long-running investment scam.
According to the SEC’s complaint, John C. Maccoll, who was affiliated with the Birmingham, Michigan branch of [UBS Financial Services, Inc.] and investment adviser, used high pressure sales tactics to solicit at least 15 of his retail brokerage customers to invest in what he described as a highly-sought-after private fund investment. The SEC alleges that most of the injured customers were elderly and retired and invested through their retirement accounts. The SEC alleges that John Maccoll told his customers that the purported fund investment would allow them to diversify their portfolios, receive annual investment returns as high as 20%, and give them investment growth potential that was better than the growth they received in their brokerage accounts. As alleged in the complaint, John Maccoll’s statements to his customers were false – he did not invest the customers’ money but stole it for his own personal use. In total, the customers invested nearly $4 million in the fraudulent scheme. To conceal the scheme, according to the SEC, John Maccoll allegedly instructed his customers not to tell others about the purported fund investment, provided some of his customers with fake account statements reflecting fictitious returns, and paid over $400,000 in Ponzi-like payments to certain of the customers to keep the scheme alive.
Clients of John Maccoll May Recover their Losses with Goodman & Nekvasil, P.A.
If you purchased investments from John Maccoll, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $180 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 purchased investments from John Maccoll 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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