Friday, May 16, 2014

Investment "Adviser" counsels himself to $230,000 in elderly exploitation case

Secretary of State Delbert Hosemann issued the following press release:


Investment Adviser bilks $230,000 from elderly investor

Jackson, Miss.—Ralph Lord, formerly affiliated with the investment firm Sanders Morris Harris (SMH), Inc., has entered into an agreement with the Secretary of State’s Office for violating Mississippi Securities laws.

Ralph Lord and SMH, Inc. have paid administrative penalties for encouraging a 90-year-old female resident of the State of Mississippi to trade her diversified portfolio and investments for $230,000 worth of funds in Remote Knowledge, LLC.  At the time of the purchase, Remote Knowledge, LLC had a long history of litigation and over $5,000,000 in losses. 

The elderly victim is now deceased.

Prior to entering into the agreement and to facilitate the settlement of the case, SMH, Inc. agreed to pay $75,000 in reimbursements to Margaret Watson’s estate.  SMH, Inc. was also ordered to pay $25,000 in penalties to the Secretary of State’s Office and $10,000 to reimburse the State of Mississippi for administrative costs.

Ralph Lord was ordered to pay $10,000.  Lord also agreed to heightened supervision should he ever return to the securities industry.  Because the violation occurred prior to Secretary Hosemann’s revisions to the Mississippi Securities Act, restitution to Mrs. Watson’s estate could not be ordered by the Secretary of State’s Office.


22 comments:

Anonymous said...

Jail time would be a good deterrent for these white-collar crooks.

Anonymous said...

If you go to the FINRA website and research this crook, Ralph Lord, you will see that he has been pulling these stunts for a long, long time. He should have been run out of this industry years ago. How do people like this sleep at night??

Anonymous said...

"How do people like this sleep at night??"

Comfortably, on expensive mattresses and linens.

Anonymous said...

Since when is 'hood-winking' illegal in this state? Every licensed lawyer, investment adviser and elder-law attorney in business does it.

Anonymous said...

Well, I have always suspected this creep was shady. Always way to cool. This asshole needs to spend about a month in Parchman. They would shut that smart mouth of his up.

Anonymous said...

Attn 10:48 (Hood-winking)Nice try Ralph, but I am afraid it is too late now!

Anonymous said...

10:48 My earlier comment about jail time is related to our AG (Hood) "winking" at crimes like this. Nice pun :-)

Anonymous said...

SHM Inc? Shaking my head

Anonymous said...

Nope, it really is SMH Inc. (shaking my head is appropriate here)

Anonymous said...

is this ralph lord the elder at 1st presbyterian church?!?!?

Anonymous said...

Seems like a story of this nature needs a picture of the person to prevent confusion.

Anonymous said...

Don't blame First Pres. He may have hoodwinked them too.

Anonymous said...

http://www.linkedin.com/pub/ralph-lord/50/6ab/834

Anonymous said...

watch out for all these $$$-"managers"...judas handled the $$$ too

Anonymous said...

I worked in the office of a CPA who had two completely different elderly lady clients with large estates and no family. He and his wife got close to them and had the wills changed to make them the beneficieries of their wealth. When they died, they quietly took everything they had and nobody said a word. The man really is evil on many levels, not just this one.
I would not even begin to know who would even look into something like this.

Anonymous said...

Ralph Lord is a good man. Lies and half truths are never accurate. He would never knowingly hurt anyone. He has helped his clients with honesty and integrity for years. Investing in the market is a known risk, as anyone is advised prior to any investment. No investment advisor can control the market and prevent any losses. All financial investors have lost money for clients, it's part of the risk/reward. Ralph Lord is an honest man.

Anonymous said...

He may be a "good man" but an extremely risky investment of that amount is not a suitable investment for a 90 year old probably unsophisticated person. He had a responsibility to her and failed.

Anonymous said...

Attn 7:59, the facts don't add up to your assumption. He has 20, yes 20 regulatory complaints and violations. He also has been allowed to resign and has been terminated by firms. There is no room for people of his (lack of)character to handle other peoples money. Don't believe me, just go to the FINRA web site, put in his name, and start reading. Pls do this then come back and share your opinion.

Anonymous said...

I find no listing for "Remote Knowledge, LLC" on Secretary of State website. Who are the principals/members? What was Ralph Lord's relationship with the LLC?

Anonymous said...

There is a "remote Knowledge" in Houston Tx. It may be a little hard to find, but Ralph managed to find it. Just ask the Watson family, Ralph "educated" them on this company.

Anonymous said...

Ralph Lord signed a Letter of Acceptance and Consent this month (May, 2014) with FINRA which alleges that he failed to disclose a financial interest in Canebreak Capital Management LLC, Spring Water Company and SigFX (#2011028244401). SigFX was ceated by Texas residents. Are any of the investors in these companies related to Remote Knowledge?

Anonymous said...

How deep does this guy go into taking advantage of vulnerable elderly people? Delbert, can you look at jail time?? thanks


Recent Comments

Search Jackson Jambalaya

Subscribe to JJ's Youtube channel

Archives

Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).


Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.


Note: Security provided by INS.

Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS
.