Shepherd, Smith, Edwards & Kantas: Broker-Dealer Allegedly Misled Novice Investor And Placed Funds in Risky Junk Bonds

Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

DALLAS, May 21, 2020 — Lawyers with Shepherd, Smith, Edwards, & Kantas (“SSEK Law Firm”) recently filed another investor fraud lawsuit against First Miami Securities Bonds, Inc. (“FMS Bonds”) on behalf of an inexperienced bond investor who suffered approximately $1M in losses due to an overconcentration of his portfolio with low rated, long-term “junk” bonds along with other bad bonds, including those issued by Frontier Communications.  

According to the claim, FMS Bonds broker Paul Antevey (“Antevey”) presented himself as a bond expert and touted his firm as a preferred bond broker-dealer with access to the best deals.  He promised the Claimant that his money would be placed in a solid portfolio that would not be exposed to unnecessary risks.  However, he placed way too many junk bonds into Claimant’s portfolio, many of them ranked BB or lower and considered high-yield or non-investment grade, resulting in nearly all of Claimant’s liquid net worth to be tied up in long-term junk bonds.  This inventory included Frontier Communications-issued bonds, of which FMS Bonds has been a big seller as well as those issued by Cleveland-Cliffs and Transocean.

FMS Bonds, based in Florida, is a broker-dealer that has developed a reputation for marketing less “desirable” bonds to its clients.  It has been the subject of numerous regulatory events, including customer disputes over municipal bonds.  In 2017, FINRA fined the broker-dealer $217K for impacting about 170 customer transactions involving municipal securities without making certain disclosures.  FMS Bonds has also been the subject of Puerto Rico bond fraud claims involving unsuitable sales made by its brokers and is the subject of multiple investor complaints over losses related to Frontier Communications bonds.  Frontier Communications, a telecommunications company, filed for bankruptcy protection last month leaving many investors and other creditors in the lurch.

If you are or were a client of Paul Antevey, FMS Bonds, or any other brokerage firm that marketed Frontier Communications bonds and suffered significant losses, contact SSEK Law Firm for a free, no obligation evaluation of your account.  For more than two decades, our firm has represented thousands of investors nationwide to recover losses.

Contact Info: 800-259-9010

Kirk Smith: [email protected]

Sam Edwards: [email protected]

Primary Logo