Costello Law Group
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April 2017 Archives

Texas Firm and Founding Member Suspended for Five Years

Jens Pinkernell and his firm J. Pinkernell Global Wealth was suspended for five years by the Texas Securities Commissioner for over charging two clients. Pinkernell allegedly overcharged the clients approximately $47,000 over a three year period. According to the Texas Securities Commissioner, Pinkernell withdrew the fees without the consent of the clients. Pinkernell was also ordered to repay the clients $46,915.

Commonwealth of Massachusetts Charges Advisor for Operation Ponzi Scheme

The Secretary of the Commonwealth in Massachusetts, William Galvin, charged Stephen Eubanks for engaging in a Ponzi scheme. Eubanks solicited customers to purchase shares of a fund he managed named "Eubiquity Capital Fund." According to authorities in Massachusetts, instead of investing customer monies in the Eubiquity Capital fund, Eubanks used the funds to pay his personal expenses and pay off earlier investors. All together Eubanks misappropriated $529,000 from investors to perpetrate the scheme.

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