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Wolper Law Firm, P.A. Files Multiple FINRA Arbitration Claims Against Oppenheimer

Ponzi Scheme

Wolper Law Firm, P.A. Files Multiple FINRA Arbitration Claims Against Oppenheimer


FORT LAUDERDALE, Fla., Dec. 21, 2021 /PRNewswire/ — The Wolper Law Firm has filed multiple arbitration claims with the Financial Industry Regulatory Authority (“FINRA”) on behalf of victims of the alleged Ponzi scheme perpetrated by John J. Woods, a former Financial Advisor at Oppenheimer & Co., Inc. The claims seek damages for clients who were victimized through the Horizon Private Equity, III Fund.

The Ponzi scheme was estimated to have defrauded 400 investors out of more than $110 million. It was orchestrated by John J. Woods and his investment advisory firm, Livingston Group Asset Management d/b/a Southport Capital, utilizing the fund known as Horizon Private Equity, III, LLC. If you are one of the impacted investors, please contact the Wolper Law Firm at 800.931.8452. This is a public service announcement.

The claims filed by Wolper Law Firm state that John Woods engaged in the unlawful practice of “selling away” for nearly ten years while employed and registered with Oppenheimer, in violation of FINRA Rules 3270 and 3280. “Selling away” means a broker solicits clients to purchase securities not officially offered or held by the executing brokerage firm and for which due diligence has not been completed. This is illegal.

Woods did not initially disclose his involvement in the Horizon Fund to Oppenheimer and, hence, Horizon and other funds were “undisclosed” Outside Business Activities (and Outside Securities Activities) of Woods. However, a reasonable examination…

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