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Director : F. Gary Gray.
Writer : Chris Morgan.
Producer : Vin Diesel, Neal H. Moritz, Michael Fottrell.
Release : April 12, 2017
Country : United States of America.
Production Company : Universal Pictures, Original Film, One Race Films.
Language : English.
Runtime : 136
Genre : Action, Crime, Thriller.

‘The Fate of the Furious’ is a movie genre Action, was released in April 12, 2017. F. Gary Gray was directed this movie and starring by Vin Diesel. This movie tell story about When a mysterious woman seduces Dom into the world of crime and a betrayal of those closest to him, the crew face trials that will test them as never before.

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Director : James Gunn.
Writer : James Gunn.
Producer : Kevin Feige.
Release : April 24, 2017
Country : United States of America.
Production Company : Walt Disney Pictures, Marvel Studios.
Language : English.
Runtime : 137
Genre : Adventure, Action, Comedy, Science Fiction.

Movie ‘Guardians of the Galaxy Vol. 2’ was released in April 24, 2017 in genre Adventure. James Gunn was directed this movie and starring by Chris Pratt. This movie tell story about The Guardians must fight to keep their newfound family together as they unravel the mysteries of Peter Quill’s true parentage.

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Director : Guy Ritchie.
Producer : Steve Clark-Hall, Akiva Goldsman, Joby Harold, Guy Ritchie, Lionel Wigram, Tory Tunnell.
Release : April 27, 2017
Country : United States of America.
Production Company : Weed Road Pictures, Wigram Productions, Safehouse Pictures.
Language : English.
Runtime : 126
Genre : Action, Drama, Fantasy.

‘King Arthur: Legend of the Sword’ is a movie genre Action, was released in April 27, 2017. Guy Ritchie was directed this movie and starring by Charlie Hunnam. This movie tell story about When the child Arthur’s father is murdered, Vortigern, Arthur’s uncle, seizes the crown. Robbed of his birthright and with no idea who he truly is, Arthur comes up the hard way in the back alleys of the city. But once he pulls the sword Excalibur from the stone, his life is turned upside down and he is forced to acknowledge his true legacy… whether he likes it or not.

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Director : James Mangold.
Producer : Lauren Shuler Donner, Hutch Parker, Simon Kinberg.
Release : February 28, 2017
Country : United States of America.
Production Company : Twentieth Century Fox Film Corporation, Donners’ Company, Marvel Entertainment, TSG Entertainment.
Language : English, Español.
Runtime : 137
Genre : Action, Drama, Science Fiction.

‘Logan’ is a movie genre Action, was released in February 28, 2017. James Mangold was directed this movie and starring by Hugh Jackman. This movie tell story about In the near future, a weary Logan cares for an ailing Professor X in a hide out on the Mexican border. But Logan’s attempts to hide from the world and his legacy are up-ended when a young mutant arrives, being pursued by dark forces.

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Director : James Ponsoldt.
Producer : Anthony Bregman, Gary Goetzman, Tom Hanks, Walter F. Parkes.
Release : April 27, 2017
Country : United States of America.
Production Company : Likely Story, Playtone, Image Nation.
Language : English.
Runtime : 110
Genre : Drama, Thriller, Science Fiction.

Movie ‘The Circle’ was released in April 27, 2017 in genre Drama. James Ponsoldt was directed this movie and starring by Emma Watson. This movie tell story about A young tech worker takes a job at a powerful Internet corporation, quickly rises up the company’s ranks, and soon finds herself in a perilous situation concerning privacy, surveillance and freedom. She comes to learn that her decisions and actions will determine the future of humanity.

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Why Retail Investors Should Avoid Managed Futures

According to Bloomberg, the Commodity Futures Trading Commission (CFTC) is going to be investigating fees charged in the $300 billion plus managed futures market. In an article published last month, Bloomberg asserted that “89% of the $11.51 billion profits of 63 managed futures funds was consumed by commissions, fees and expenses.” These expenses are hugely costly to investors who would have seen a return of nearly 100% over the same ten-year period had the money simply been put into low-fee index funds. Instead, these funds lost money.

Despite the foregoing, Morgan Stanley argues for the efficacy of these funds. In a section entitled “The Powerful Arguments for Managed Futures” from a March 2003 prospectus for Spectrum Technical LP, Morgan Stanley touts the funds as non-correlated with the stock and bond markets. As the prospectus says, “historically managed futures have shown positive returns during most of the negative periods in stocks… [and] there have been fewer negative periods for managed futures.” And while this, over time, has proven to be true, it seems to ignore trading costs. These trading costs serve to benefit the brokers and fund managers at the expense of the investors. In the words of one of the CFTC’s five members, Bart Chilton, “the fees are so outlandish, they can wipe out all the profits.”

Investors often pay fees as high as 9% every year. This type of alternative investment, often entered into at the behest of a trusted broker to purportedly reduce risk through diversification, is now all-too-common in an industry rife with conflicts of interest buried in complex alternative products. And while the gross returns of these products are heavily marketed to investors, it seems clear that investors are often left in the dark about the much lower returns that actually result once commissions and fees are taken by the managers and brokerage firms.

The anecdotes about both the poor disclosure of fees and the profits that these fees destroyed are innumerable. One such example discussed in the Bloomberg article is about the Grant Park Futures Fund, a fund promoted heavily by the famous Swiss Bank, UBS. It appears that UBS inadequately disclosed the likelihood that the Grant Park Future Fund’s $25.6 million in gross gains since 2009 would be decimated by fees – resulting in a reported net loss for investors of $223.6 million. Other examples abound, demonstrating time and again that fees are unapologetically taken from funds at a rate that utterly destroys the profits that would have otherwise gone to investors.

In our opinion, Managed Futures are not designed for retail investors. Retail investors often pay four times what is paid by institutional investors to invest in managed futures. To put it bluntly, the best performing strategic fund of the last ten years for retail investors was the Morgan Stanley Smith Barney Spectrum Strategic Fund with its 2.1% return. During the same period, Fidelity’s low-interest, low-risk money market fund returned 2.9% to its investors.

If you are an investor in a Managed Futures fund and are among the victims of these high fees or you feel as though your advisor has misinformed you about the risks or costs associated with this type of investment, we encourage you to give us a call. Vernon Healy works daily to protect the rights of investors, and will make you aware of your options. Contact us today on the web at http://www.vernonhealy.com or call us toll free today at 877-649-5394. Vernon Healy’s investigations and advocacy on behalf of investors have been featured in AARP magazineForbes and Barron’s. In addition to its investigation into managed futures and Puerto Rican bonds and bond funds, Vernon Healy is currently resenting numerous investors involving products and strategies such as hedge funds, including fund of funds hedge funds and Non-Traded REITs.  Firms being pursued by Vernon Healy on behalf of investors include J.P. MorganUBSPro Equities, and various family offices and trust companies.

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Stars : Alec Baldwin, Steve Buscemi, Lisa Kudrow, Jimmy Kimmel, Tobey Maguire, Vivi Ann Yee, Miles Christopher Bakshi, Eric Bell Jr.

A story about how a new baby’s arrival impacts a family, told from the point of view of a delightfully unreliable narrator, a wildly imaginative 7 year old named Tim.

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Success Trade Securities Sells $18 Million in Fraudulent Promissory Notes to Professional Athletes

The salaries of top-tier professional athletes has long-been noteworthy, earning significantly more than the average American in all too often short career. Many of these athletes, however, have no experience managing or converting their newly found high income into sustainable wealth. To make matters worse, like Doctors, these athletes go from very low salaries (or no salary) to very high salaries in a very sudden way, which makes them attractive targets for fraudsters and poor money management generally. As a result of this targeting and lack of experience, professional athletes can end up with no wealth to show for their efforts once their career is over.

Recently, Jinesh “Hodge” Brahmbhatt, a former broker of Success Trade Securities Inc., sold more than $18 million in fraudulent promissory notes to 58 investors, many of whom were former NBA and NFL players. FINRA, the industry’s regulatory authority, banned Mr. Brahmbhatt, though it did not cite the fraud as the reason for the ban. Rather, it cited his failure to appear and testify regarding the actions of Success Trade and its chief executive, Fuad Ahmed. Thereafter, FINRA filed both a complaint alleging “fraud in the sale of promissory notes” and a cease-and-desist order demanding that Success Trade and Mr. Ahmed “halt further fraudulent activities.”

While Brahmbhatt was not named in the complaint, it was his company, Jade Wealth Management, that fed the athletes’ investments into the allegedly fraudulent promissory notes. And, despite attempts to give the perception otherwise, there are indications that Success Trade Securities and Jade Wealth Management were much more closely tied to one another than Mr. Brahmbhatt claims. According to Forbes, Jade Wealth Management is listed as a division of Success Trade Securities, their office is listed as being in the same suite, and three of the Success Trade Securities employees responsible for selling the fraudulent notes were registered with Jade.

According to Yahoo sports, players who invested in this scheme include such big names as Brandon Knight (Detroit Pistons, NBA player), Joe Haden (Cleveland Browns, NFL player), Vernon Davis (Washington Redskins, NFL player), Clinton Portis (Washington Redskins, NFL player), Adewale Ogunleye (Chicago Bears, NFL player) and Jared Odrick (Miami Dolphins, NFL player) who has filed a FINRA arbitration complaint against Mr. Brahmbhatt, Success Trade, and Mr. Ahmed.

By his own admission, Brahmbhatt states that his company, Jade Management, failed to look at Success Trade’s books: “People say, ‘Man, you’re stupid. You should have looked at [Success Trade’s] last two or three years of income statements.’ But you know what? We didn’t. You know why we didn’t? Because he never missed a damn payment, and we never really thought about it.” Whether or not Mr. Brahmbhatt had knowledge of Success trade’s actions, the lack of due diligence on any investment is inexcusable for a firm or financial advisor that is trusted by their clients with the role of financial advisor.

Before trusting any investment firm or investment professional with your investments or investment decisions, we urge you to conduct your own due diligence using the free and simple tools we recommend. In the event it is too late to investigate before you invest and you have been harmed by an incompetent or unethical investment professional, please contact our law firm to discuss your recovery options: Phone: 877-649-5394; email: info@vernonhealy.com; or website: http://www.vernonhealy.com/.

Law Firms of Vernon Litigation and Dovin, Malkin & Ficken File Two More Claims Against GenSpring Family Offices on $25 Million Account and $10 Million Account

The Law firms of Vernon Litigation and Dovin, Malkin, & Ficken, have recently filed two more cases against GenSpring Family Offices, LLC in arbitration on behalf of two different ultra-high net worth investors.  Similar to previously filed Claims by the two law firms, both new Claims assert that GenSpring mishandled the significant investment accounts that were entrusted to them.

The first of the two new Claims notes that the Trust involved went through the necessary time and effort to interview multiple investment firms and other money managers.  In fact, besides GenSpring, the Trust spoke with CitiGroup, Goldman Sachs, Deutsche Bank, Credit Suisse and LaSalle Bank, all of whom had a similar recommendation: diversify across traditional asset classes—which include equities, cash and traditional fixed income in bonds. These institutions also recommended using some alternative investments as a separate class of investments for special situations.

According to the Claim, however, GenSpring stood out to the Trust because it represented that it employed a unique approach to the traditional asset class diversification model, which provided better returns with a higher level of downside protection.  As a result, the Trust met with Michael Zeuner—a former Senior Executive Partner at GenSpring—to discuss GenSpring’s strategy. Former GenSpring CEO Mel Lagomasino attended one of the introductory meetings as well.  At these meetings, Mr. Zeuner indicated that GenSpring’s advantage over the other firms derived from what he called a small “family” oriented office that used an “open architecture,” meaning that it did not use proprietary funds. The cornerstone of GenSpring’s approach was the specialized use of multi-strategy hedge funds as a substitute for the fixed income or the bond portion of their clients’ portfolios.

According to GenSpring, these Multi Strategy Hedge Funds had higher and more consistent returns than bonds, but with bond risk.  GenSpring asserted that the Multi Strategy Hedge Funds would behave like traditional bonds in terms of volatility and asset class correlation, but would provide superior returns across all market cycles.  The claim asserts that GenSpring also emphasized that this approach had been thoroughly tested under every conceivable market scenario.  As a result, the Trust entrusted approximately $10 million to GenSpring Family Offices and requested that capital preservation be the primary goal.

The second of the two new Claims asserts that during the initial meetings with GenSpring, the trustees explained to GenSpring that the funds in the Trust would need to be readily available for other potential business opportunities within the next 6 to 18 months, and therefore the Trusts needed to be invested in safe, liquid investments.  In response, GenSpring assured the trustees that it had developed an investment strategy that would provide higher returns than a traditional fixed income strategy with the same risk. GenSpring representatives informed the Trust that its proposed “Strategy” was as safe as it gets.  The key component of GenSpring’s “Strategy” was “substituting” Multi-Strategy Hedge Funds and “market neutral” hedge funds for traditional bonds.

Moreover, GenSpring represented that these hedge funds had “bond-like risk with equity-like returns.”  In fact, they labeled these hedge funds as “bond risk” investments.  Ultimately, the Trust invested $25 million with GenSpring in a strategy that was to have a time horizon of six to twenty-four months and employ the use of mostly Multi-Strategy Hedge Funds as substitutes for bonds and a small amount of equities.  The time horizon aspect was important to the Trust because it planned to use these funds in other areas over the next year or two.

Contrary to what the clients requested in each of these separate cases, when the equity markets plummeted in late 2008 and early 2009, the Multi Strategy Hedge Fund investments went down in virtually direct correlation to the stock market.  In contrast, traditional bonds (the benchmark used by GenSpring as to the Multi Strategy Hedge Funds) moved opposite of stocks, in accordance with historical norms, and went up more than 5 percent.

According to attorney Allison Ficken of Dovin, Malkin & Ficken, “GenSpring had no reasonable basis to believe that Multi Strategy Hedge Funds like Silver Creek would perform like bonds or provide adequate diversification from equities.”  Likewise, attorney Chris Vernon of Vernon Litigation indicated that many GenSpring clients “continue suffer liquidity risk damage because they are saddled with very large investments that they cannot liquidate because of lock-ups.”

Indeed, the Silver Creek Funds (i.e., the Multi-Strategy Hedge Funds discussed above) are “Funds of Funds”, that is, they invested in multiple other hedge funds, each with its own manager(s), many of whom were employing any number of strategies having nothing to do with bonds or fixed income investments. As a result, both of the Claims assert that GenSpring had no reasonable basis to believe that the Silver Creek funds would perform like bonds or provide adequate diversification from equities.  Moreover, at the time these investments were made for the Trusts, there was not enough historical data on these multi strategy funds of hedge funds to make reliable assumptions about the composition, risk or return of these funds.

As noted by attorney Ed Dovin of Dovin Malkin & Ficken, “It is truly troubling that GenSpring so boldly and successfully marketed this strategy to lure ultra-high net worth investors away from its competitors by implementing such a flawed and reckless strategy.  Once again, we see an investment firm putting its revenue stream ahead of the interests of the investing public.”

On behalf of both clients, the law firms of Vernon Litigation and Dovin Malkin and Ficken have asserted separate claims for breach of fiduciary duty, negligence and breach of contract.   The claims pursued in each of these cases are not only for significant damages, but also for rescission of the Silver Creek funds that remain highly illiquid in the Trusts’ portfolios.

The Vernon Litigation and Dovin Malkin & Ficken team are now representing high net worth individuals in an aggressive nationwide and international investigation of GenSpring Family Offices.  The team has already filed multiple claims and collectively obtained damage and rescission awards on behalf of two former GenSpring clients well in excess of $5 million.

GenSpring Family Offices is owned by a wholly-owned subsidiary of SunTrust. According to GenSpring, it has more than $17 billion under management and its clients are among the wealthiest families in the world. It has offices in Miami, Florida; Wazata, Minnesota; Nashville, Tennessee; Memphis, Tennessee; Jupiter, Florida; Orlando, Florida; Costa Mesa, California; Atlanta, Georgia; Chevy Chase, Maryland; Greenwich, Connecticut; Charlotte, North Carolina;  Saint Petersburg, Florida;  Sarasota, Florida; New York, New York; Chapel Hill, North Carolina; and Hickory, North Carolina.

Based in Naples, Florida, the securities attorneys at the Vernon Litigation law firm have conducted aggressive nationwide investigations of hedge funds, structured products, reverse convertibles, municipal bonds, bond funds, hedge funds, non-traded REITs, private equity, EB-5, complex insurance products and strategies, TICS, and various securities fraud cases and Ponzi schemes. The firm’s investigations and advocacy on behalf of investors have been featured in AARP magazine and Forbes.  More recently, Vernon Litigation’s GenSpring investigation has been reported in Barron’s.