Singer Financial Corp. and Paul Z. Singer Charged by SEC – Goodman & Nekvasil P.A. May Recover Investor Losses
Securities and Exchange Commission Charges Singer Financial Corp. and Paul Z. Singer
The Securities and Exchange Commission charged Singer Financial Corp. (“SFC”), a Philadelphia, Pennsylvania-based “hard money” lender, and Paul Z. Singer, Singer Financial Corp.’s sole officer, director, and shareholder, with operating an illegal and unregistered offering of securities.
The SEC’s complaint alleges that Singer and Singer Financial Corp. raised approximately $4.5 million from at least 70 investors between October 2012 and July 2015 through an illegal and unregistered offering of unsecured promissory notes. According to the SEC’s complaint, Singer and Singer Financial Corp.conducted the unregistered offering without a registration statement in effect and without qualifying for an applicable exemption from registration. The SEC’s complaint further alleges that Singer and Singer Financial Corp. initially sought an exemption from registration for an offering of investment certificates, which were nearly identical to the promissory notes. The complaint alleges that after the SEC staff questioned, among other things, the size and scope of significant non-interest-bearing related party loans Singer Financial Corp. made to Singer and other companies he owned, Singer abandoned his efforts to obtain an exemption and, instead, embarked on the illegal, unregistered offering of promissory notes. According to the SEC’s complaint, by failing to register the offering of promissory notes with the SEC, or otherwise qualify the offering for an exemption from registration, Singer and Singer Financial Corp. deprived its investors of critical information regarding the risks of investing in Singer Financial Corp. and in unsecured promissory notes.
Investors in Singer Financial Corp. May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in Singer Financial Corp., 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 incurred investment losses in Singer Financial Corp. 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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