Tag: russell weigel

On Tuesday, the Office of Financial Regulation (OFR) announced that legislation to stimulate the creation of Florida’s capital market ecosystem has been filed by state Rep. Joe Harding, R-Williston. Harding’s bill reforms the Florida Securities...

OFR Commissioner Russell Weigel offered some guidance for investors.  

This action accuses the defendants of perpetrating a fraudulent precious metals investment scheme allegedly involving an estimated 1600 investors, including more than 100 Floridians—most of whom are seniors—and more than $185 million in customer funds.

Leaders across the Sunshine State weighed in after Gov. Ron DeSantis unveiled his $96.6 budget proposal on Thursday. The governor’s proposal is $4.3 billion more than last year’s budget due mostly to federal funds as the number of Floridians enrolled in Medicaid continues to increase.

“I thank Governor Ron DeSantis for his leadership and continued support of OFR’s mission. We are proud to come to work every day to foster innovation and keep Florida’s financial marketplace safe for people and businesses. I look forward to continuing these efforts in 2021,” said OFR Commissioner Russell Weigel.

On Monday, Florida Office of Financial Regulation (OFR) announced the Oct. 22 arrest of David Bruce Cohen of Boca Raton on charges of grand theft, organized fraud and money laundering for his alleged involvement in an investment fraud scheme that resulted in approximately $1.5 million in victim losses.

Moody, OFR, the U.S. Commodity Futures Trading Commission and 28 other states announced that a complaint has been filed in the U.S. District Court for the Northern District of Texas alleging that Metals.com acted with a reckless disregard for the truth resulting in virtually every one of their investors losing the majority of the funds invested in fraudulently overpriced precious metals bullion.

Following a call with the Office of Financial Regulation (OFR), state Chief Financial Officer (CFO) Jimmy Patronis weighed in on Tuesday to encourage financial institutions and mortgage lenders to continue to provide relief for Florida homeowners and businesses dealing with financial impacts of COVID-19 pandemic.

Florida’s CFO Jimmy Patronis and Florida Office of Financial Regulation (OFR) Commissioner Russell Weigel want Floridians to know that scammers are preying on Floridians’ fears surrounding COVID-19.