FORT LAUDERDALE, Fla., Sept. 10, 2010 (GLOBE NEWSWIRE) -- The Law Firm of David R. Chase, P.A., representing defrauded investors nationwide and headed by former SEC Prosecutor and Special Assistant US Attorney, David R. Chase, announces that it is investigating potential arbitration claims against certain of the securities brokerage firms with which Kenneth McLeod was associated during the time he engaged in the Ponzi scheme as alleged and described in the SEC's Complaint filed against his estate in June 2010.
Shockingly, the SEC's Complaint alleges that McLeod, through his benefits consulting firm, Federal Employee Benefits Group, Inc., and his registered investment adviser, F&S Asset Management Group, Inc., fraudulently solicited government employees to invest in a government bond fund that did not exist. McLeod lured many of his investors through retirement benefits seminars he gave at government agencies nationwide, raising at least $34 million since 1988 from an estimated 260 investors around the country, according to the SEC.
While engaged in the alleged Ponzi scheme, McLeod was associated with several FINRA registered securities brokerage firms which, under the securities laws, had an obligation to reasonably supervise his activities. If these brokerage firms failed in their responsibility to reasonably supervise McLeod, they may be, depending upon the particular facts of each investor's case, liable for investor losses.
The Law Office of David R. Chase, P.A., based in Fort Lauderdale, Florida, represents investors nationwide in cases against the major Wall Street Firms. The Firm's principal, David R. Chase, has been practicing for over 17 years, is AV-Rated by Martindale-Hubbell -- its highest competence and ethics rating -- and previously served as a SEC Prosecutor and Special Assistant United States Attorney in the Economic Crimes Division of the US Attorney's Office in the Southern District of Florida. More about the firm is available on its website at: .
If you or a family member were a victim of Kenneth Wayne McLeod and wish to discuss your legal rights, or you have information about this matter, please contact:
CONTACT: Law Office of David R. Chase, P.A. 888-337-8625
