Boston Accident Injury Lawyer Blog

November 26, 2009 - Trevor G. Cook and Patrick J. Kiley, both Minnesota residents, allegedly operated a foreign currency investment scam through their four main entities: UBS Diversified Growth LLC, Universal Brokerage FX Management LLC, Oxford Global Advisors LLC, and Oxford Global Partners LLC. According to the complaint filed by the SEC this week, Cook and Kiley ran a Ponzi scheme, which took in over $190 million and had at least 1,000 investors.

The SEC alleges that from July 2006 through July 2009, Cook and Kiley enticed over 1,000 investors by promising annual returns of 10-12%. Cook and Kiley promised their clients that their money would be kept in separate accounts for each individual and invested in foreign currency trading. In reality, the SEC claims investor money was pooled together and deposited into the accounts of various entities controlled by Cook and Kiley.

According to the complaint, Cook and Kiley moved $108 million through their various entities and did use a portion of that money for foreign currency trading, but this resulted in losses of $48 million. The SEC claims that Cook and Kiley pocketed $42.8 million for personal use, including $18 million used to purchase ownership interests in two trading companies, $12.8 million, which was moved to Panama, ostensibly for the construction of a casino, $2.8 million to purchase the Van Dusen Mansion, and $4.8 million, which Cook lost gambling. Also, it is alleged that nearly $51 million was used to make payments to prior investors in a Ponzi-like fashion.

November 24, 2009 - The SEC alleges that Derek A. Nelson ran a Ponzi Scheme using fictitious companies: Capital Mountain Holding Corporation ("CMHC"), Systems XXI, Act I, LLC, and Systems XXI, Act II, LLC. In a Complaint filed last week in federal court for the Northern District of Texas, the SEC brought civil claims against Nelson, CMHC, Act I, and Act II. The SEC also named two other Nelson entities, Plouteo, Inc. and Homaide Real Estate Services, Inc., as relief defendants. According to the complaint, Nelson's scam enticed hundreds of investors and raised over $25 million from June 2008 through September 2009.

In June 2008, CMHC, based in Dallas, Texas, began offering promissory notes purportedly to raise capital for investment in distressed homes. Nelson, 42 from Fairview, Texas, told investors that he would use the money to purchase these properties at a discount and then renovate or rent them and eventually sell them at a profit. Nelson gathered investors through vigorous internet marketing and a Canadian-based marketing firm. The CMHC notes promised returns of 10% per month for three months. CMHC allegedly raised $15 million from these sales.

In October 2008, Nelson began offering similar notes from Act I and Act II. The Act I notes offered 18% yearly returns for two year investments and the Act II notes 21% yearly returns for five years. These notes also declared that 90% of investor funds would be used to purchase and rehab properties. According to the SEC, Nelson raised at least $10 million from sales of Act I and Act II notes.

November 23, 2009 - Sharlene O. Bauptista, 34 from Roslindale, Massachusetts, has died as a result of serious personal injuries sustained in a single vehicle car accident in the Sumner Tunnel on Sunday morning. Passengers Amaurys E. Objio and Jose Danny Baez, both 25 and from Roslindale, were ejected from the vehicle and were seriously injured.

Apparently, Bauptista's car collided with the median barrier as she was traveling towards the Storrow Drive exit ramp from the Sumner Tunnel at approximately 1:23 a.m. The exit ramp was closed for three hours. Police indicated that no one in the car was wearing seat belts.

Bauptista was transported to Massachusetts General Hospital, where she was pronounced dead. Objio was also taken to MGH and Baez was taken to Boston Medical Center. Both are being treated for serious injuries.

The accident remains under investigation by the Massachusetts State Police in conjunction with the Suffolk County District Attorney's Office.

Source: Boston Herald

The accident occurred at around 7:30 p.m. in a poorly lit area during rainy weather. Funez was reportedly dressed in dark clothing. The poor visibility and weather conditions, coupled with Funez' dark clothing and the dark color of the Cobalt were the likely factors that contributed to the accident.

Funez was transported to Massachusetts General Hospital, where he was later pronounced dead. Police say criminal charges against Spano are unlikely.

The accident remains under investigation by the Massachusetts State Police.

Source: The Daily Item

November 19, 2009 - Kelvin Savanhmixay, 12 years old, suffered serious personal injuries when he was hit by a car that was apparently drag racing in Lowell, Massachusetts on Wednesday. Two cars were allegedly racing on the VFW Parkway near the University of Massachusetts-Lowell campus. One of the cars struck Savanhmixay as he was standing in the crosswalk at Mammoth Road at around 2 p.m.

Thursday, the Lowell Police have found a dark blue Acura RSX, one of the cars they believe was involved in the accident. The Acura was found in Methuen and had visible damage to the front bumper and a broken windshield on the driver's side.

According to witnesses, a black car and blue car were racing eastbound on the VFW Parkway on Wednesday afternoon. The blue car struck Savanhmixay as it was allegedly trying to pass the black car on the left. The police stated that the driver of the blue car drove off. The driver of the black car stopped, exited the car and spoke with someone briefly at the scene before fleeing as well.

Savanhmixay was taken to Children's Hospital in Boston and was treated for serious injuries. He remains in intensive care but is expected to survive. The accident is still under investigation by the Lowell Police Department.

Source: Boston.com

Speed of Wealth, LLC, headquartered in Centennial, Colorado is operated by Wayne and Donna McKelvy and apparently worked in conjunction with Wragg, and Knorr to market and promote investments in Mantria. Speed of Wealth was a "wealth education" program founded by the McKelvys that offered investment seminars, online webinars, telephone conference calls, and hosted online radio programs.

November 11, 2009 - Mary Sheehan, 69 from Hamden, Connecticut, has died as a result of serious personal injuries sustained in an automobile accident in Foxborough, Massachusetts on Monday at 3:30 p.m. Sheehan was a passenger in a car driven by her husband Dominick Sheehan, 75 also from Hamden.

Apparently, Dominick Sheehan lost control of the vehicle causing the car to rollover into the median. The couple was traveling north on Route 495 just before the exit for Route 1 in Wrentham, when the accident occurred.

According to the Massachusetts State Police, Mary Sheehan was pronounced dead at the scene. Dominick Sheehan was taken to Rhode Island Hospital in Providence and treated for his injuries.

The accident remains under investigation.

Source: The Sun Chronicle

November 7, 2009 - Cedars-Sinai Medical Center, the renowned Los Angeles hospital, has recently disclosed that 206 patients had received radiation overdoses over an 18 month period in 2008 and 2009. The overdoses occurred while radiologists were administering CT brain perfusion scans, a procedure used to aid in the diagnosis and treatment of strokes.

Apparently in February 2008 Cedars-Sinai radiologists overrode the default settings on a CT scanner used for the brain scans, hoping to obtain clearer data. Due to the changed settings, patients received doses up to 8 times the normal dose of 0.5 Gray for a brain perfusion scan. A Gray is a measured unit of emitted radiation.

November 6, 2009 - Michelle Boehm, 48 from Milford, Massachusetts, has died as a result of serious personal injuries sustained in a disastrous automobile accident on Wednesday night in Nashua, New Hampshire. Boehm's Mitsubishi Eclipse collided with a stopped tractor-trailer driven by Stanley Balcewicz, 57 of Worcester, Massachusetts, and then careened into a Nissan Altima driven by Frank Morales, 21 from Nashua. The accident occurred shortly before 11 p.m. at the intersection of Amherst Street and Celina Avenue.

According to the Nashua Police, Boehm was traveling west on Route 101A when she her Eclipse smashed into the back of Balcewicz' immobile tractor-trailer, which was stopped in the left lane waiting to turn onto Celina Avenue. Evidently, the Eclipse went underneath the rear of the tractor trailer and hit Morales' westbound Altima.

The Nashua Fire Department had to use power extraction tools to remove Boehm from the vehicle. Neither Balcewicz nor Morales were injured in the crash. It is unclear what caused the accident and according to one reporter there were no skid marks at the scene that suggested Boehm was able to apply her brakes before crashing into the truck.

Boehm was described as a devoted and loving mother to her two children and will be missed by many.

The accident remains under investigation.

Source: The Nashua Telegraph