Elder Financial Abuse

Archive | Elder Financial Abuse

Investors File Securities Arbitration Claim Against Madison Avenue Securities For GPB Scheme

July 12, 2021  |   Posted by :   |   Alternative Investments, Elder Financial Abuse, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against Madison Avenue Securities For GPB Scheme

Jeffrey Raymond Dixson of Vancouver Washington a stockbroker formerly registered with Madison Avenue Securities LLC is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested compensatory damages founded on allegations including elder abuse in regard to alternative investments that had been sold to the customer during the period that […]

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Hilltop Securities Sued By Investors For Misrepresentation

July 07, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Elder Financial Abuse, FINRA Securities Arbitration, Investment and Regulatory News, Structured Products   |   Comments Off on Hilltop Securities Sued By Investors For Misrepresentation

Mark Frederick Augusta (also known as Mark Fred Augusta) a stockbroker registered with Wedbush Securities Inc. and Hilltop Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $250,000.00 in damages based upon allegations that Augusta made misrepresentations to the customer regarding structured products and […]

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Spartan Capital Stockbroker Charged With Unauthorized Trading

July 07, 2021  |   Posted by :   |   Elder Financial Abuse, FINRA Securities Arbitration, Investment and Regulatory News, Unauthorized Trading   |   Comments Off on Spartan Capital Stockbroker Charged With Unauthorized Trading

Michael John Giovannelli of Garden City New York a stockbroker formerly registered with Spartan Capital Securities LLC has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement with effecting an unauthorized trade in a customer’s account when Giovannelli was associated with Spartan Capital Securities. Department of Enforcement v. Michael J. Giovannelli Disciplinary Proceeding […]

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FINRA Bars RM Stark Stockbroker For Failure To Pay Arbitration Award

July 07, 2021  |   Posted by :   |   Elder Financial Abuse, FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds   |   Comments Off on FINRA Bars RM Stark Stockbroker For Failure To Pay Arbitration Award

Thomas John Marino of Lake Worth Beach Florida a stockbroker formerly registered with RM Stark Co. Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Marino did not comply with a FINRA Arbitration Award. Case No. 19-00968 (Oct. 27, 2020). This is not […]

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IFG Sanctioned By FINRA For Failure To Supervise

May 15, 2021  |   Posted by :   |   Alternative Investments, Elder Financial Abuse, Failure To Supervise, Investment and Regulatory News, Non-traded REITs   |   Comments Off on IFG Sanctioned By FINRA For Failure To Supervise

Independent Financial Group LLC a securities broker dealer headquartered in San Diego California has been censured and fined $200,000.00 by Financial Industry Regulatory Authority (FINRA) supported by findings that it failed to supervise a stockbroker who made unsuitable recommendations to customers. Letter of Acceptance Waiver and Consent No. 2018059223401 (Apr. 8, 2021). According to the […]

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Cabot Lodge Sanctioned For Failure To Supervise REIT Sales

April 18, 2021  |   Posted by :   |   Elder Financial Abuse, Failure To Supervise, Investment and Regulatory News, Non-traded REITs   |   Comments Off on Cabot Lodge Sanctioned For Failure To Supervise REIT Sales

Cabot Lodge Securities LLC a securities broker dealer headquartered in New York has been censured and fined $270,000.00 by Financial Industry Regulatory Authority (FINRA) according to an Order Accepting Offer of Settlement which contains findings of Cabot Lodge failing to supervise REIT offerings and providing unsuitable recommendations to customers. Department of Enforcement v. Cabot Lodge […]

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JP Morgan Stockbroker Barred In Investigation

April 18, 2021  |   Posted by :   |   Elder Financial Abuse, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on JP Morgan Stockbroker Barred In Investigation

Evan A. Schottenstein of New York New York a stockbroker formerly registered with JP Morgan Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Schottenstein failed to comply with FINRA personnel when he was under investigation for potential trading misconduct. Letter of […]

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SEC Charges American Portfolios Stockbroker With Fraud

March 18, 2021  |   Posted by :   |   Elder Financial Abuse, Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on SEC Charges American Portfolios Stockbroker With Fraud

Mark Lewton Hopkins of Grand Blanc Michigan a stockbroker formerly registered with American Portfolios Financial Services has been charged by Securities and Exchange Commission (SEC) with misappropriating $1,150,000.00 from customers who held accounts at American Portfolios Financial Services. SEC v. Mark L. Hopkins Case No. 20-cv-11980 (July 24, 2020). According to the Complaint, in 2017, […]

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Investors File Arbitration Claim Against First Allied Securities For Misappropriation

March 08, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Elder Financial Abuse, FINRA Securities Arbitration, Forgery, Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Investors File Arbitration Claim Against First Allied Securities For Misappropriation

Shlomo Strugano (also known as Shlomy Strugano and as Solomon Strugano) of Reseda California a stockbroker formerly registered with First Allied Securities Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $750,000.00 in damages supported by accusations of elder abuse and misappropriation. Financial Industry Regulatory Authority (FINRA) […]

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First Standard Stockbroker Sanctioned For Excessive Trading

February 16, 2021  |   Posted by :   |   Boilerroom Sales, Churning, Elder Financial Abuse, Excessive Trading, Investment and Regulatory News   |   Comments Off on First Standard Stockbroker Sanctioned For Excessive Trading

Christian Frank Lucchetto of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial Company LLC has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he excessively traded in the account of a First Standard Financial […]

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M Holdings Stockbroker Accused Of Elder Trafficking

February 16, 2021  |   Posted by :   |   Elder Financial Abuse, Forgery, Investment and Regulatory News, Stockbroker Theft, Variable Annuites   |   Comments Off on M Holdings Stockbroker Accused Of Elder Trafficking

Dean Harrison Grant of Milledgeville Georgia a stockbroker formerly registered with M Holdings Securities Inc. is the subject of a customer initiated investment related written complaint on August 12, 2019 where the customer requested compensatory damages founded on accusations that the customer had not been apprised of important investment information from Grant when making an […]

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Edward Jones Stockbroker Barred By SEC For Theft

February 01, 2021  |   Posted by :   |   Elder Financial Abuse, Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Edward Jones Stockbroker Barred By SEC For Theft

James Vincent Marino of Pompano Beach Florida a stockbroker formerly registered with Edward Jones has been barred as a stockbroker and investment adviser representative by Securities and Exchange Commission (SEC) according to an Order that is based on Marino’s conviction of theft. In the Matter of James Vincent Marino Administrative Proceeding File No. 3-20061 (Sept. […]

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Commonwealth Financial Stockbroker Barred For Fraud

January 19, 2021  |   Posted by :   |   Elder Financial Abuse, Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Commonwealth Financial Stockbroker Barred For Fraud

Gerald Allan Eaton of Acton Massachusetts a stockbroker formerly registered with Commonwealth Financial Network has been barred in various capacities including stockbroker and investment adviser representative according to a Securities and Exchange Commission (SEC) Order based on findings of Eaton defrauding investors and stealing $3,700,000.00 from them. In the Matter of Gerald Allan Eaton Administrative […]

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FINRA Sanctions Ameriprise Stockbroker For Unauthorized Trading

January 03, 2021  |   Posted by :   |   Elder Financial Abuse, Investment and Regulatory News, Unauthorized Trading, Variable Annuites   |   Comments Off on FINRA Sanctions Ameriprise Stockbroker For Unauthorized Trading

Drew R. Mantel (also known as Drew R. Mentel) of Miamisburg Ohio a stockbroker formerly registered with Ameriprise Financial Services has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Mantel executed trades in customers’ accounts on an unauthorized […]

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FINRA Finally Bars Global Arena Stockbroker In Boilerroom Bond Scam

December 22, 2020  |   Posted by :   |   Boilerroom Sales, Bond Fraud, Churning, Elder Financial Abuse, Excessive Markups, Excessive Trading, Investment and Regulatory News   |   Comments Off on FINRA Finally Bars Global Arena Stockbroker In Boilerroom Bond Scam

Jonah Engler (also known as Jonah Engler-Silberman) of New York New York a stockbroker formerly registered with Global Arena Capital Corp has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he failed to pay a customer compensatory damages after being found liable for sales […]

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FINRA Charges Newport Stockbroker In Selling Away Scheme With The Elderly

December 07, 2020  |   Posted by :   |   Elder Financial Abuse, Investment and Regulatory News   |   Comments Off on FINRA Charges Newport Stockbroker In Selling Away Scheme With The Elderly

Gregory Walter McCloskey (also known as Gregory Walter Meier) of Newport Beach California a stockbroker formerly registered with Westpark Capital Inc. has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement with selling away from the securities broker dealer, obstructing the regulator’s investigation and falsifying information in its investigation. Department of Enforcement v. […]

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Cetera Investment Services Stockbroker Accused Of Forgery

December 07, 2020  |   Posted by :   |   Elder Financial Abuse, Forgery, Investment and Regulatory News   |   Comments Off on Cetera Investment Services Stockbroker Accused Of Forgery

Clara Chen Tang (also known as Qing Chen) of Cupertino California a stockbroker formerly registered with Cetera Investment Services LLC is the subject of a customer initiated investment related written complaint on March 20, 2019 in which the customer requested unspecified compensatory damages supported by accusations that the customer’s signature had been forged on documents […]

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Investors Bring FINRA Arbitration Claim Against Spartan Capital For Misrepresentation

December 01, 2020  |   Posted by :   |   Boilerroom Sales, Elder Financial Abuse, Excessive Trading, Securities Arbitration Claims, Unauthorized Trading   |   Comments Off on Investors Bring FINRA Arbitration Claim Against Spartan Capital For Misrepresentation

Marlon O. Cole of New York New York a stockbroker formerly registered with Spartan Capital Securities is the subject of a customer initiated investment related arbitration claim which was resolved for $20,000.00 in damages based upon accusations of unsuitable margin use and the breach of a fiduciary duty by Cole concerning his over-the-counter equities transactions […]

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FINRA Bars Raymond James Stockbroker In Investigation

December 01, 2020  |   Posted by :   |   Elder Financial Abuse, Securities Arbitration Claims   |   Comments Off on FINRA Bars Raymond James Stockbroker In Investigation

Vonna Kay Husby of Fairbanks Arkansas a stockbroker formerly employed by Raymond James Financial Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that she failed to cooperate with FINRA during the time that she was under investigation for allegedly taking advantage of an […]

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AXA Stockbroker Sanctioned For Taking Funds From Customers

November 30, 2020  |   Posted by :   |   Customer Loans, Elder Financial Abuse, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on AXA Stockbroker Sanctioned For Taking Funds From Customers

Philip Anthony Simone of Irvine California a stockbroker formerly registered with AXA Advisors LLC has been fined $12,000.00 and suspended for eleven months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Simone borrowed funds from elderly customers and then failed to be forthcoming about it with […]

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Investors Bring FINRA Arbitration Claim Against Dawson James For Breach Of Fiduciary Duty

November 04, 2020  |   Posted by :   |   Breach of Fiduciary Duty, Elder Financial Abuse, Securities Arbitration Claims   |   Comments Off on Investors Bring FINRA Arbitration Claim Against Dawson James For Breach Of Fiduciary Duty

Dominic Joseph Linsalata Jr. of Boca Raton Florida a stockbroker currently registered with Dawson James Securities is the subject of a customer initiated investment related arbitration claim where the customer requested $670,237.00 in damages founded on allegations of elder abuse and breach of contract by Linsalata when Linsalata was associated with Dawson James Securities. Financial […]

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Capital Investment Group Stockbroker Sanctioned For Borrowing From Elderly

September 30, 2020  |   Posted by :   |   Customer Loans, Elder Financial Abuse   |   Comments Off on Capital Investment Group Stockbroker Sanctioned For Borrowing From Elderly

Ferrell Lee Rollins Jr of Rocky Mount North Carolina a stockbroker formerly employed by Capital Investment Group Inc. has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Rollins borrowed funds from an elderly Capital Investment Group customer. Letter […]

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MML Investors Services Stockbroker Barred For Stealing From Dead Customers

September 30, 2020  |   Posted by :   |   Elder Financial Abuse, Misappropriation of Funds, Securities Arbitration Claims, Stockbroker Theft   |   Comments Off on MML Investors Services Stockbroker Barred For Stealing From Dead Customers

Roger Allan Duval of Bellevue Washington a stockbroker formerly registered with MML Investors Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded upon findings that he converted funds belonging to three customers of the securities broker dealer. Letter of Acceptance Waiver and Consent No. 2019062789901 […]

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Investors Sue Securities America For Over Rogue Stockbroker

September 14, 2020  |   Posted by :   |   Elder Financial Abuse, Excessive Trading, FINRA Securities Arbitration, Securities Arbitration Claims, Securities Fraud, Unauthorized Trading   |   Comments Off on Investors Sue Securities America For Over Rogue Stockbroker

Giustino DeStefano (also known as Justin Antonio DeStefano) of Williamsville New York a stockbroker formerly employed by Merrill Lynch and Securities America is the subject of a customer initiated investment related arbitration claim which was settled for $485,000.00 in damages supported by allegations of elder abuse and the violation of California Securities Act. Financial Industry […]

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Garden State Stockbroker Barred In Elder Abuse Investigation

August 27, 2020  |   Posted by :   |   Boilerroom Sales, Customer Loans, Elder Financial Abuse   |   Comments Off on Garden State Stockbroker Barred In Elder Abuse Investigation

Ronald G. Richer of New York New York a stockbroker formerly employed by Garden State Securities is named in a FINRA Department of Enforcement Complaint alleging that Richer had borrowed funds from a customer of the securities broker dealer without its authorization and he then tried to conceal his activities from both Garden State Securities […]

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Investors Accuse Wedbush Securities Of Fraud

July 29, 2020  |   Posted by :   |   Elder Financial Abuse, Municipal Bond Fraud, Securities Arbitration Claims, Securities Fraud, Structured Products   |   Comments Off on Investors Accuse Wedbush Securities Of Fraud

Mark Fredrick Augusta of Del Mar California a stockbroker formerly associated with Wedbush Securities Inc. has been referenced in a customer initiated investment related arbitration claim which was settled for $25,000.00 in damages supported by allegations that the customer had been defrauded and that misrepresentations and omissions had been made in regard to the customer’s […]

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FINRA Bars Ameriprise Stockbroker In Investigation

July 29, 2020  |   Posted by :   |   Elder Financial Abuse, Inverse/Leveraged ETF Funds, Securities Arbitration Claims   |   Comments Off on FINRA Bars Ameriprise Stockbroker In Investigation

Bryant Edwin Caveness of Kingsport Tennessee a stockbroker formerly employed by Ameriprise Financial Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that Caveness failed to comply with a FINRA investigation in regard to money that the stockbroker received from elderly customers. Letter of […]

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Fortune Financial Stockbroker Barred For Loan From Elderly Customer

July 20, 2020  |   Posted by :   |   Customer Loans, Elder Financial Abuse   |   Comments Off on Fortune Financial Stockbroker Barred For Loan From Elderly Customer

Jean Connell Hicks of Saint Petersburg Florida a stockbroker formerly registered with Fortune Financial Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Hicks neglected to furnish documentation and information to FINRA personnel when she was under investigation for borrowing from a customer […]

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New Jersey Catches Allstate Stockbroker Stealing $2 Million From Dead

July 11, 2020  |   Posted by :   |   Elder Financial Abuse, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on New Jersey Catches Allstate Stockbroker Stealing $2 Million From Dead

Robert Gerard Merlo (also known as Robert Gerald Merlo) of Midland Park New Jersey a stockbroker formerly associated with Allstate Financial Services has been barred as a stockbroker in the State of New Jersey according to an Order issued by New Jersey Bureau of Securities that was based on Merlo pleading guilty to fraudulent activities. […]

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FINRA Bars Newbridge Stockbroker In Elder Abuse Investigation

June 23, 2020  |   Posted by :   |   Elder Financial Abuse, Securities Arbitration Claims   |   Comments Off on FINRA Bars Newbridge Stockbroker In Elder Abuse Investigation

David Howard Fagenson of Boca Raton Florida a stockbroker formerly employed by Newbridge Securities Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that he failed to cooperate with FINRA’s requests for his information. Case No. 2018057351801 (Jan 27, 2020). According to FINRA Public […]

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