Shepherd Smith Edwards & Kantas LLP Investigating Claims Involving WR Rice Financial Services Inc. and Joel Wilson

MELVILLE, N.Y., Nov. 27, 2012 (GLOBE NEWSWIRE) -- The attorneys with the Securities Law Firm of SHEPHERD SMITH EDWARDS & KANTAS LLP,, are investigating claims involving WR Rice Financial Services Inc. and Joel Wilson. Wilson and his firm, WR Rice Financial Services, have been charged by the Financial Industry Regulatory Authority ("FINRA") for fraudulent sales of securities as well as outright theft of investor's funds or assets. According to FINRA, Wilson and other brokers with his firm sold over $4.5 million dollars' worth of interests in limited partnerships. Those were sold to roughly 100 separate investors who were primarily in moderate or low income families. FINRA believes that Wilson and the other brokers at WR Rice Financial misrepresented the investments and promised the investors an interest rate of 9.9%, when the money was actually subject to huge amounts of risk when the money was loaned to other companies owned by Wilson.

The result of these actions is that many investors have suffered significant losses. Moreover, it is often true that when fraudulent activity is discovered, as is being alleged against Wilson and WR Rice Financial, there are many improprieties that happened in other areas as well. As such, if you have lost money with Joel Wilson or WR Rice Financial Services, Inc., contact the law offices of Shepherd Smith Edwards & Kantas LLP for information about a potential claim to recover some or all of your losses.

Shepherd Smith Edwards & Kantas LLP has a team of attorneys, consultants and staff with more than 100 years of combined experience in the securities industry and in securities law. Since 1990, we have represented thousands of investors nationwide to recover losses. We have represented clients in Federal and state courts and in arbitration through the FINRA, the New York Stock Exchange Inc. (NYSE), the American Arbitration Association (AAA) and in private arbitration actions. Collectively, we have represented over 1,000 investors over the last 18 years in negotiation, mediation, arbitration and litigation.

CONTACT: 800-259-9010 Ryan Cook rcook@sseklaw.comSource: Shepherd Smith Edwards & Kantas