Silver Law Group Wins $2,700,000 FINRA Arbitration For Elderly Victim Of Ponzi Scheme

Silver Law Group successfully represented an elderly woman in a FINRA arbitration claim to recover her losses from a Ponzi scheme perpetrated by Edwin Lickiss. The claim alleged that Atlanta-based broker-dealer Arkadios Capital failed to supervise its Alamo, California branch office, from which Lickiss was able to operate his scheme and his Arkadios-registered son worked as a financial advisor.

Coral Springs, FL, June 17, 2026 (GLOBE NEWSWIRE) -- Silver Law Group successfully represented an elderly woman in a FINRA arbitration claim to recover her losses from a Ponzi scheme perpetrated by Edwin Lickiss. The claim alleged that Atlanta-based broker-dealer Arkadios Capital failed to supervise its Alamo, California branch office, from which Lickiss was able to operate his scheme and his Arkadios-registered son worked as a financial advisor.

After a four-day hearing, the panel of arbitrators awarded our client $2,700,000.

Edwin Lickiss began running his Ponzi scheme decades ago. Lickiss was criminally indicted in July 2025 and pled guilty to wire fraud and money laundering on May 20, 2026. Many of the victims of Lickiss’ Ponzi scheme, including Silver Law Group’s client, lost virtually everything they invested with him.

Silver Law Group has recovered millions of dollars for victims of elder financial fraud and Ponzi schemes, which is a systemic and growing issue. Brokerage firms owe their elderly clients certain legal duties to protect them from frauds, Ponzi schemes, and other misconduct. Silver Law Group was ranked by Securities Class Action Services as one of the top 50 plaintiff law firms in 2025 because of our securities class action work.

One of the major issues in the case was whether Arkadios Capital adequately supervised its Alamo, California branch office or aided the scheme. Silver Law Group argued, presented evidence, and submitted legal briefing that brokerage firms owe their clients a duty to adequately supervise their operations to prevent, detect, and warn of fraud and other misconduct. Ryan Schwamm, Esq., who represented the claimant at the arbitration hearing stated “We are pleased that the arbitration panel ruled in claimant’s favor after hearing all the facts and evidence. We have seen a substantial increase in elder fraud cases in recent years.”

The FINRA Arbitration Award

A copy of the arbitration award can be found here.

On June 11, 2026, Silver Law Group filed a Petition to Confirm the Arbitration Award as a Judgment in the Northern District of California, Case No. 3:26-cv-05696.

Silver Law Group Represents Victims Of Securities And Investment Fraud

Silver Law Group represents victims of securities and investment fraud in securities class actions and arbitration claims. Best known for representing victims of Ponzi schemes and other frauds, Silver Law Group has recovered millions of dollars for defrauded victims including many victims of elder financial abuse. Managing partner Scott Silver is on the board of the Public Investor Advocate Bar Association (PIABA) and is the current co-chair of the Securities and Financial Fraud Group of the American Association of Justice (AAJ).

Name: Scott Silver
Email: ssilver@silverlaw.com
Job Title: Managing Partner

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