World News: 23:05 GMT Friday 14th September 2018. [Klayman & Toskes P.A. via Globe Newswire via SPi World News]
BOCA RATON, Fla., Sept. 14, 2018 (GLOBE NEWSWIRE) -- The Securities Arbitration Law Firm of Klayman & Toskes, P.A., , has commenced an investigation into the sales of notes by brokerage firms and financial advisors who recommended 1 Global Capital, LLC (“ 1 Global”) to their customers. 1 Global, a business loan service, is currently being investigated by the Securities and Exchange Commission (“SEC”) for the direct and indirect sale of unregistered securities.
The owner of 1 Global, Carl Ruderman, resigned on July 27, 2018. On the same day as Ruderman’s resignation, 1 Global filed for chapter 11 Bankruptcy. Brokerage firms and financial advisors who sold securities in 1 Global had a duty to their customers to perform their due diligence and recommend suitable investments to their clients. This would require the brokerage firms and financial advisors to evaluate the risks and client objectives before recommending securities.
Documents in the SEC investigation and Bankruptcy filing suggest 1 Global defrauded its investors out of $287 million. The investments were made by investors who were promised the proceeds of short-term cash advance loans. 1 Global is also associated with 1 West Capital, LLC, which also filed bankruptcy on the same day.
The sole purpose of this release is to investigate the sales practices and financial misconduct of brokerage firms and financial advisors in connection with the sale of 1 Global to their customers. Investors who purchased these investments are encouraged to contact Lawrence L. Klayman, Esq. of Klayman & Toskes, P.A. at (888) 997-9956, or visit our website at .
K&T is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation, on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm represents high net-worth, ultra-high-net-worth, and institutional investors, such as non-profit organizations, unions, public and multi-employer pension funds. K&T has office locations in California, Florida, New York and Puerto Rico.
Contact:Klayman & Toskes, PALawrence L. Klayman, Esq.888-997-9956
Globe Newswire: 23:05 GMT Friday 14th September 2018
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