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Orange County Investment Advisor Richard H. Nickles and His Companies, Innovative Advisory Services, Inc., Innovative Advisory Services, LLC, and Island Trader, LLC

The Mauriello Law Firm is representing investors in connection with an alleged "Ponzi scheme" created by Orange County investment adviser Richard H. Nickles and his associated entities, Innovative Advisory Services, Inc., Innovative Advisory Services, LLC, and Island Trader LLC. In April 2010, the United States Securities and Exchange Commission ("SEC") filed a civil suit charging Nickles and his three companies with violating the antifraud provisions of the federal securities laws and seeking preliminary and permanent injunctions, disgorgement, prejudgment interest, and financial penalties against all defendants. The SEC complaint alleges the following: Since March 2009, Nickles raised approximately $3 million through advertisements in prominent newspapers for investments that are purportedly insured or U.S. Government guaranteed. In reality, Nickles did not invest the funds as promised. The SEC alleged that Nickles provided investors with false trade confirmations that identified securities he had not purchased or that were non-existent. In an effort to portray his business as legitimate, Nickles issued the confirmations through Island Trader, a regulated broker-dealer which had no dealings with Nickles or Innovative Advisory since March 2009. According to the complaint, through these confirmations, Nickles succeeded in giving investors the false impression that he was associated with a legitimate broker-dealer and that their investments were insured with the Securities Investor Protection Corp. He allegedly used the name Island Trader LLC for his non-regulated company in order to give further credence to his misrepresentations. The SEC also alleges that Nickles held himself out as a certified financial planner, when, in fact, he was not.

Click here to see a copy of the SEC's civil complaint against Richard Nickles and these entities.

The Honorable James V. Selna, United States District Judge, granted the SEC's motion for preliminary injunction against the defendants, freezing defendants' assets, requiring accountings, prohibiting the destruction of documents, and granting expedited discovery.

If you invested with Richard Nickles or his companies, you may in fact have simply provided your money to Nickles and received transaction documents that were created or falsified to indicate that the funds were placed in legitimate actual investments, when in reality they were diverted to other uses by Nickles and these companies, including possibly to repay earlier investors.

If you have provided investment funds to the above individuals or entities, please contact the Mauriello Law Firm for a no-obligation consultation regarding your legal rights and your options for recovering your investment losses.

Client Reviews
Tom, thank you for your all help. Among the three other attorneys I talked with, I chose you because you really listened, asked thoughtful questions and sought all information to understand my situation. That gave me confidence in you above all others. I am a believer in receiving feedback, so I just wanted to share my thoughts with you. If I come across anyone that is looking for counsel in this industry I will certainly refer them your way. Scott Yi, Securities Registered Representative
Thomas was very thorough, kind and truly cared about me and my case. He went above and beyond the call of duty. Every time I contacted him he me made me feel like a very important client. His skills, intelligence and demeanor lead to a victory in the courtroom! Susan De Diminicantanio
As a business development consultant, there have been times to which I am in need of counsel for the review and strategic advice a range of diversified employment and compensation packages. In this sense, Thomas Mauriello has been my trusted counsel, paying particular attention to the settle nuances the language and structure of contractual agreements, and rely heavily on his expert opinion as a plaintiff's lawyer! Emma Makinen, DOAP Kitchens, LLC
Our Family needed an attorney who was knowledgeable with FINRA and Tom proved to be very familiar with FINRA. We found him, trustworthy, thorough, honest and sympathetic during an emotionally stressful time with our Family. Annette Hellmich
I would recommend Mr. Mauriello highly - - to anyone - - - wish I had more friends in the area who need an attorney! He was extremely knowledgeable, timely, courteous, - AND - he won my case! Would call him again in an instant should the need arise. Nancy Brown