SEC
Whistleblower
Attorneys

May 12, 2020

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

Offering Fraud

SANCTION AMOUNT: Approximately $2.7 million

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

Final judgments entered against the individual defendants on default (Burkholz) and on consent (Bianco), respectively. In this case, the SEC alleged that investors were solicited for proprietary options trading strategies that were falsely represented to be highly profitable, and funds were misappropriated. Default judgment previously entered against the entity defendants.

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