News and Articles

Call 800-718-1422 or email

Seeman Holtz Lawsuits

Several lawsuits have been filed during recent weeks alleging that Florida financial firm Seeman Holtz defrauded investors.  The suits allege that Seeman Holtz sold unregistered securities on unsuspecting and unsophisticated investors, many of whom were in their 90s.  The investments were purportedly life insurance-backed promissory notes.  Not only were the notes not registered as securities, Seeman Holtz has never been a registered brokerage dealer, and its salesmen were not registered associated persons.

The lawsuits allege that Holtz’s salesmen went to upscale communities and preyed on elderly investors who wanted stable and secure investments, and the securities were marketed as such. Holtz told investors that “the Notes were safe and secure and would be collateralized by a portfolio of life insurance policies which would provide safety of principal and substantial returns.” Investors were assured that their promissory notes would be “liquid and that they would be repaid upon maturity.” One of Holtz’s clients had bought multiple notes, and the client’s suit details two of them. One note matured in January of 2019 and the other matured a year later. These notes were collectively worth approximately $226,000. The notes have since defaulted.

It is important to note that Eric Holtz, a cofounder of Seeman Holtz and a defendant in the lawsuits at hand, committed suicide earlier this month.

In one of the pending lawsuits, the Florida Office of Financial Regulation accuses Seeman Holtz of running a “ponzi-type” scheme, accusing the firm of various violations of Florida’s blue sky statute, including fraud.  As of this date, the SEC has not publicly announced whether it is investigating Seeman Holtz

If you wish to discuss any securities related question, please contact David A. Weintraub, P.A., 7805 SW 6th Court, Plantation, FL  33324.  By phone: 954.693.7577 or 800.718.1422.

Leave a comment

Your email address will not be published. Required fields are marked *