SEC
Whistleblower
Attorneys

March 02, 2020

Neil Burkholz, Frank Bianco, Palm Financial Management, LLC, Shore Management Systems, LLC, et al.

Offering Fraud

SANCTION AMOUNT: $1223766

Defendants: Palm Financial Management, LLC, Shore Management Systems, LLC
Neil Burkholz, Frank Bianco

Default judgment as against the entity defendants, which were allegedly used by Burkholz and Bianco to solicit investors by falsely representing that their proprietary options trading strategies were highly profitable. To the contrary, the SEC charged that less than half of investor funds were actually invested (in near-total losses) and the rest were misappropriated.

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