06/15/09
The Law Firm of David R. Chase, P.A., www.davidchaselaw.com, headed by former Securities and Exchange Commission Prosecutor and Special Assistant United States Attorney, David R. Chase, announces that it is investigating potential claims against Aura Financial Services, Inc. (Aura Financial) for alleged excessive trading or "churning" of customer accounts, as well as unauthorized trading. The Law Firm represents defrauded investors nationwide in cases to recover investment losses.
On June 11, 2009, the Securities and Exchange Commission (SEC) filed a Complaint in the United States District Court for the Southern District of Florida against Aura Financial and six of its current and former registered representatives. The SEC's Complaint alleges that from approximately October 2005 through at least April 2009, the Defendants used fraudulent sales practices to induce customers to open accounts, and that Defendants then excessively traded or "churned" the accounts of at least fifteen customers. The Complaint also alleges that many of the trades made by Defendants were unauthorized by the customers.
Aura Financial customers who have sustained losses in their accounts due to excessive and/or unauthorized trading may contact the Law Firm of David R. Chase, P.A. to explore their legal options.
