Eric Jose Garcia, of Coral Gables, Florida, a stockbroker registered with Essex National Securities LLC, was the subject of a customer initiated investment related complaint filed on March 21, 2024. The customer requested $105,000.00 in damages based on allegations of failure to conduct due diligence and the unsuitable investment recommendation of an offshore annuity. On…
Joseph Farrell Beam, of Flat Rock, North Carolina, a stockbroker registered with Capital Investment Group Inc., is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim filed on July 18, 2024. The customer requested $175,000.00 in damages based on allegations of failure to conduct due diligence in connection…
Roger Allan Roemmich of Alpharetta, Georgia, a stockbroker registered with Dempsey Lord Smith LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $73,300.00 in damages based upon allegations that Roemmich failed to conduct reasonable due diligence on direct investments and made…
Scott Callis Barcomb, of Sarasota, Florida, a stockbroker registered with Berthel Fisher Company Financial Services Inc., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $10,000.00 in damages based upon allegations that Barcomb failed to conduct adequate due diligence, failed to supervise certain…
Janine Lynn Ledbetter (also known as Janine Lynn Evans), of Vancouver, Washington, a stockbroker registered with Cetera Advisors LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $99,999.00 in damages based upon allegations that Ledbetter failed to conduct adequate due diligence…
Stephen Russell Stanford (also known as Steve Stanford), of San Francisco, California, a stockbroker registered with Portsmouth Financial Services, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $25,000.00 in damages based upon allegations that Stanford made unsuitable recommendations, misled the customer, and…
Margaret Ellen Suite-Arnold (also known as Midge Suite) of China Grove, North Carolina, a stockbroker registered with FSC Securities Corporation, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $14,650.00 in damages based upon allegations that Suite-Arnold did not conduct adequate due diligence…
Robert Leo Luley Jr. of New York, a stockbroker registered with Madison Avenue Securities, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Luley failed to respond to the regulator’s requests for information. FINRA Case No. 2018060896201 (October 24, 2023). According to FINRA Public Disclosure, Luley was…
Hagin Gifford Richeson of Clearwater, Florida, a stockbroker registered with Corinthian Partners LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $9,000,000.00 in damages based upon allegations that Richeson failed to perform adequate due diligence in connection with the sale of preferred…
Jack Robert Thacker Jr. (also known as J.R. Thacker) of Bristol, Virginia, a stockbroker registered with Center Street Securities Inc., is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $200,000.00 in damages based upon allegations that Thacker engaged in the unsuitable recommendation…
Daniel Benjamin Kistler, of Rome, Georgia, a stockbroker registered with Dempsey Lord Smith LLC, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $100,001.00 in damages based upon allegations that Kistler failed to conduct due diligence and made the unsuitable investment recommendation…
Garrett Wayne Moretz of Mooresville, North Carolina, a stockbroker registered with LifeMark Securities Corp., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $35,000.00 in damages. The claim alleged breach of fiduciary duty, unsuitable investment recommendations, misrepresentation and omissions of material facts, negligence,…
Austin Richard Dutton Jr., of Doylestown, Pennsylvania, a stockbroker formerly registered with Newbridge Securities Corporation, is the subject of an enforcement action initiated by Financial Industry Regulatory Authority (FINRA) in which the regulator is seeking sanctions against Dutton based upon allegations that Dutton made unsuitable investment recommendations and falsified customer documents. Department of Enforcement v….
Fermin Alberto Mesina of Chula Vista, California, a stockbroker associated with Infinex Investments Inc., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $500,000.00 to $1,000,000.00 in damages based upon allegations that Mesina failed to perform adequate due diligence and concentrated a…
Walter Ickert, of Ridgeland, South Carolina, a stockbroker associated with IFP Securities LLC, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $100,001.00 in damages based upon allegations that Ickert failed to conduct adequate due diligence, misrepresented an investment’s safety, failed to…
Chay Thomas Lapin, of Torrance, California, a stockbroker associated with WealthForge Securities, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $552,535.65 in damages based upon allegations that Lapin failed to conduct reasonable due diligence, was negligent, made unsuitable recommendations, failed to…
Jack Lewis Jones Jr. (also known as JJ Jones), of Houston, Texas, a stockbroker associated with Triad Advisors LLC, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $30,000.00 in damages. The claim alleged that Jones made unsuitable recommendations, failed to sufficiently disclose…
James Leroy Raper Jr., of Richmond, Virginia, a stockbroker and the Chief Compliance Officer of Wealthforge Securities LLC, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $552,535.65 in damages based upon allegations that Raper made misrepresentations and omissions of material fact, breached his fiduciary duties,…
Jack Matthew Cayce, of Atlanta, Georgia, a stockbroker registered with Kalos Capital Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $20,000.00 in damages based upon allegations that Cayce made unsuitable recommendations and failed to perform due diligence on GPB Automotive securities during the time that…
Daniel Edward Brunette (also known as Dan Brunette), of Indianapolis, Indiana, a stockbroker registered with First Allied Securities Inc., was the subject of a customer initiated investment related complaint that was settled on June 24, 2022, for $12,500.00 in damages based upon allegations that Brunette made unsuitable recommendations, failed to supervise certain representatives, committed fraud,…
William Lapiana (also known as Bill Lapiana), of New York, New York, a stockbroker registered with Newbridge Securities Corporation, was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $14,999.00 in damages based upon allegations that Lapiana made unsuitable investment recommendations, made misrepresentations of material fact, and failed…
Benjamin William Belanger (also known as Ben Belanger), of Glendale, Arizona, a stockbroker registered with First Allied Securities Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $75,000.00 in damages based upon allegations that Belanger made unsuitable investment recommendations, failed to perform due diligence, breached his…
Philippus Theunis Van Staden (also known as Philip Van Staden), of Atlanta, GA, a stockbroker registered with The Strategic Financial Alliance Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $90,000.00 in damages based upon allegations that Van Staden failed to perform due diligence, made unsuitable…
Travis John Wolfe of Downers Grove, IL, a stockbroker registered with Ausdal Financial Partners Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $300,000.00 in damages based upon allegations that Wolfe made unsuitable recommendations, made misrepresentations of material fact, and failed to perform due diligence…
Robert D’Agosta of Cedar Rapids, IA, a stockbroker registered with Berthel Fisher Company Financial Services Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $25,000.00 in damages based upon allegations that D’Agosta made unsuitable recommendations, made misrepresentations and omissions of material fact, and failed to perform…
Farrukh Shazad Kazmi, of Moorestown, NJ, a stockbroker registered with Berthel Fisher Company Financial Services Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $130,000.00 in damages based upon allegations that Kazmi made unsuitable recommendations, made misrepresentations of material fact, and failed to perform due diligence…
Mark David Martino of White Plains, New York, the Chief Executive Officer of Ascendant Alternative Strategies LLC, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Martino failed to perform due diligence for a private placement offering. Letter of Acceptance, Waiver, and Consent No….
Vincent Keith Annable of Scottsdale, Arizona, a stockbroker registered with Center Street Securities Inc., is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $600,000.00 in damages based upon allegations that Annable made unsuitable investment recommendations and overconcentrated the customer’s account in alternative…
William Charles Schumann of Rockville, Maryland, a stockbroker registered with H. Beck Inc., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $87,500.00 in damages based upon allegations that Schumann made unsuitable investment recommendations and failed to perform due diligence in connection with…
Charles Abad Santos Bonilla of Boca Raton, Florida, a stockbroker formerly registered with David Lerner Associates Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages based upon allegations that Bonilla made unsuitable recommendations and material misrepresentations in connection with the recommendation and sale…
Thomas Caine Shultz of Scottsdale, Arizona, a stockbroker formerly registered with Coastal Equities Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages based upon allegations that Shultz failed to perform due diligence and made unsuitable recommendations with regard to the sale of direct…
Mark David Martino of White Plains, New York, a stockbroker formerly registered with Ascendant Alternative Strategies LLC, has been fined $5,000.00 and suspended for twenty days from associating with any FINRA member in any capacity based upon allegations that Martino failed to conduct due diligence on a private placement issued by a start-up company. Letter…
Christopher William Porter of Yalesville, Connecticut, a stockbroker currently registered with Madison Avenue Securities LLC, is identified in a customer initiated investment related FINRA securities arbitration claim in which the customer requested approximately $100,000.00 in damages because Porter allegedly provided unsuitable recommendations to the customer concerning alternative investments including GPB Automotive when Porter was associated…
Michael J. Haffling of Orland Park, Illinois, a stockbroker formerly registered with Kalos Capital Inc., is identified in a customer initiated investment related FINRA securities arbitration claim that was resolved for $13,803.26 in damages because of the alleged recommendation and sale of illiquid, risky alternative investments for the customer’s individual retirement accounts at Kalos Capital….
Jack Lewis Jones (also known as JJ Jones) of Houston, Texas, a stockbroker currently registered with Triad Advisors, is identified in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $100,000.00 in damages because Jones allegedly provided unsuitable investment recommendations to the customer regarding a private placement when Jones was…
Hugh Ordway Barndollar (also known as Hobby Barndollar) of Land O’Lakes, Florida, a stockbroker formerly registered with Crown Capital Securities, is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $36,000.00 in damages because Barndollar allegedly misrepresented and omitted information in connection with the sale of non-traded real estate…
McDonald Partners LLC, a securities broker-dealer headquartered in Cleveland, Ohio, has been censured and fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) based in part on findings that McDonald Partners failed to perform due diligence concerning private placement offerings, including failing to disclose to investors the risks relating to the offerings. Letter of Acceptance, Waiver,…
Gary David Ginsberg of West Orange, New Jersey, a stockbroker formerly registered with Royal Alliance Associates Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $65,000.00 in damages based upon allegations that Ginsberg made unsuitable alternative investment recommendations while associated with Royal Alliance. Financial Industry Regulatory…
Geneos Wealth Management, a securities broker dealer headquartered in Centennial, Colorado, has been censured and fined $150,000.00 by Financial Industry Regulatory Authority (FINRA) based upon allegations that it failed to supervise alternative investment transactions, resulting in losses to Geneos Wealth Management customers. Letter of Acceptance, Waiver, and Consent No. 2019061764701 (March 18, 2022). According to…
Dempsey Lord Smith, a securities broker dealer headquartered in Rome, Georgia, has been censured and fined $70,000.00 by Financial Industry Regulatory Authority (FINRA) supported by findings that it made unsuitable investment recommendations and failed to tell investors adverse information about GPB Capital Holdings LLC. Letter of Acceptance, Waiver, and Consent No. 2019061213901 (March 21, 2022)….
Luke Michael Johnson of Scottsdale, Arizona, a stockbroker formerly registered with Coastal Equities Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $200,000.00 in damages supported by accusations of Johnson made unsuitable recommendations to the customer concerning real estate securities and direct investments, including direct participation…
David Michael Lademan of Okemos Michigan, a stockbroker formerly registered with Kalos Capital Inc., is referenced in a customer initiated investment related FINRA arbitration claim in which the customer sought up to $500,000.00 in damages founded on allegations of negligent supervision and breach of contract concerning private placements and real estate securities through Lademan at…
Willard Louis Pugh, of Boca Raton, Florida, a stockbroker formerly registered with National Securities Corp, is identified in a customer initiated investment related FINRA arbitration claim which was settled for $60,000.00 in damages supported by allegations of an unsuitable private placement transaction by Pugh while he was associated with National Securities Corp. Financial Industry Regulatory…
Triad Advisors LLC, a securities broker dealer headquartered in Atlanta, Georgia, has been censured and fined $195,000.00 by Financial Industry Regulatory Authority (FINRA) based in part on findings that Triad Advisors failed to supervise stockbrokers’ recommendations of alternative mutual funds, including the LJM Preservation and Growth Fund (LJM), which resulted in losses to Triad Advisors’…
Robert Brian Wolfe, of Fort Lauderdale, Florida, a stockbroker formerly registered with Goldman Sachs Co. LLC, was discharged as a stockbroker on September 30, 2021, founded on accusations of Wolfe’s handling of customer complaints without notifying Goldman Sachs Financial Management. Wolfe was also accused of activities relating to customer communications centered around market valuations and…
Frederick Peter Baerenz (also known as Fred Baerenz) of Great Falls Virginia a stockbroker formerly registered with Kalos Capital Inc. is referenced in a customer initiated investment complaint which was settled for $14,000.00 in damages on August 20, 2020, based upon accusations that Baerenz provided unsuitable recommendations regarding alternative investment transactions during the time that…
David Michael Lademan of Okemos Michigan a stockbroker formerly registered with Kalos Capital Inc. is referenced in a customer initiated investment related written complaint on August 18, 2021, in which the customer requested compensatory damages founded on allegations of false statements and omissions relating to business development company (BDC), real estate security (REIT), equipment leasing,…
Kimberly Ann Barentsen (also known as Kimberly Ann Berentsen, Kimberly Ann Bietema, and Kimberly Ann Bielema) of Walnut Creek California a stockbroker formerly registered with First Allied Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages based on allegations…
Michael J. Haffling of Chicago Illinois a stockbroker currently registered with Kalos Capital Inc. and Kalos Management is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested more than $100,000.00 in damages founded on allegations of negligence and breach of fiduciary duty concerning real estate security transactions by Haffling…
Daniel G. Dillard of Austin Texas a stockbroker formerly registered with Sagepoint Financial Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $1,500,000.00 in damages founded on allegations that Dillard provided unsuitable investment recommendations regarding direct participation program interests or limited partnership interests during the period that…
Jonathan Todd Pyne of Plymouth Minnesota a stockbroker currently registered with Berthel Fisher Company Financial Services Inc. has been referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $116,000.00 in damages based upon accusations of misrepresentation relating to their investments in real estate securities while Pyne was associated…
Mark Charles Cohen of New York New York a stockbroker formerly registered with BCG Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought compensatory damages based upon accusations of Cohen selling unsuitable direct participation program interests and limited partnership interests during the period that he…
Luke Michael Johnson of Scottsdale Arizona a stockbroker formerly registered with Coastal Equities Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $76,500.00 in damages founded on allegations that Johnson provided unsuitable recommendations concerning real estate security transactions at Coastal Equities. Financial Industry Regulatory Authority (FINRA) Arbitration…
Hugh Ordway Barndollar III (also known as Hobby Barndollar) a stockbroker currently registered with Crown Capital Securities is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought more than $5,000.00 in damages founded on allegations that they had been sold an unsuitable non-traded business development company and…
Arni Jat Diamond (also known as Arni Jay Diamond) of Jacksonville Florida a stockbroker formerly registered with Kalos Capital Inc. is the subject of a customer initiated investment related written complaint which was resolved on January 18, 2021 for $17,749.00 in damages based upon allegations that Diamond’s alternative investment advice or handling of the customer’s…
Charles Abad Santos Bonilla of Boca Raton Florida a stockbroker formerly registered with David Lerner Associates Inc. has been fined $5,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Bonilla made unsuitable recommendations to customers concerning alternative investments. Letter of Acceptance…
Aaron Paul Brodt of Scottsdale Arizona a stockbroker formerly registered with Accelerated Capital Group is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $430,000.00 in damages based upon allegations of Brodt’s failure to undertake due diligence prior to recommending that the customer purchase direct investments including direct…
Eric Peter Weschke of Setauket New York a stockbroker currently registered with Kalos Capital Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $718,000.00 in damages supported by allegations of Weschke overconcentrating the customer’s investments in limited partnership interests and alternative investments during the period…
Jonathan Todd Pyne of Minneapolis Minnesota a stockbroker formerly registered with Berthel Fisher Company Financial Services is referenced in a customer initiated investment related arbitration claim in which the customer requested $250,000.00 in damages founded on allegations that Pyne cause pain or damages as the result of misrepresentations made to the customer regarding certain alternative…
Michael J. Haffling of Orland Park Illinois a stockbroker formerly registered with Kalos Capital Inc. and an investment adviser representative of Kalos Management is the subject of a customer initiated investment related written complaint which was settled for $55,000.00 in damages on July 13, 2020 based upon allegations of Haffling and Kalos Capital having failed…
Jeffrey Raymond Dixson of Vancouver Washington a stockbroker formerly registered with Madison Avenue Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $225,000.00 in damages supported by allegations that the customer had been provided with unsuitable recommendations of alternative investments including GPB which led the customer to experience…
Harry Seth Datys of New York New York a stockbroker formerly employed by WestPark Capital Inc. has been fined $20,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he advised customers of WestPark to purchase promissory notes that were not suitable for them and…
David Richard Geake of Northbrook Illinois a stockbroker formerly registered with Madison Avenue Securities LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages based upon allegations that (1) misrepresentations and omissions had been made by Geake regarding alternative investments (2) due diligence was not…
Jeff Anton Nizich a stockbroker associated with U.S. Bancorp Investments has been referenced in a customer initiated investment related complaint on September 12, 2019 in which the customer requested damages estimated to exceed $5,000.00 based upon allegations that due diligence was not adequately performed prior to mutual fund transactions being effected by the stockbroker during…
Luke Michael Johnson of Scottsdale Arizona a stockbroker formerly employed by Coastal Equities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $509,000.00 in damages based upon allegations that investment recommendations made by Johnson between June of 2017 and June of 2018 failed to be suitable for…
Guiliano Law Group, P.C. (Philadelphia) announced that is has filed investor claims against securities broker-dealers in connection the recommendation and sale of GPB Capital, and its related entities including GPB Automotive. The Statement of Claim filed before the Financial Industry Regulatory Authority or FINRA alleges the violation of the federal securities laws, the Pennsylvania Securities…
Scott Vincent Kaup of Stuart Nebraska a stockbroker formerly employed by VSR Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $42,500.00 in damages based upon accusations that (1) unfounded statements and omissions had been made to the customer concerning real estate securities and direct investments (2)…
Newbridge Securities Corporation a securities broker dealer headquartered in Boca Raton Florida, and Bruce H. Jordan (Director of Investment Banking), have been censured by Financial Industry Regulatory Authority (FINRA) based upon findings that (1) Newbridge failed to supervise structured products sold to customers of the firm (2) Newbridge failed to supervise non-traditional exchange traded fund…
Jody Bryant Bowers of Abilene Texas a stockbroker formerly employed by Lowell Company Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages supported by accusations that (1) exchanged traded funds had been misrepresented and (2) the customer was provided with bad investment recommendations…
Craig Alan Sutherland of Columbus Ohio a stockbroker registered with Money Concepts Capital Corp is the subject of a customer initiated investment related arbitration claim in which an Arbitration Panel ordered Money Concepts Capital Corp to pay the customer $698,979.00 in compensatory damages based on finding the firm liable on the customer’s claims including (1)…
Scott Lindsay Reed of Indianapolis Indiana a stockbroker registered with David A. Noyes Company is referenced in a customer initiated investment related arbitration claim which was settled for $395,000.00 in damages supported by allegations that (1) false or misleading statements and omissions had been made to the customers concerning the terms of non-traded real estate…
Timothy David Ballard (also known as Tim Ballard) of Danville California a stockbroker employed by National Planning Corporation is referenced in a customer initiated investment related arbitration claim where the customer sought more than $100,000.00 in damages supported by allegations that (1) the customer’s account was handled in a negligent manner (2) fiduciary obligations were…
Richard William Lunn Martin of Penang a stockbroker formerly employed by G.F. Investment Services LLC is the subject of a customer initiated investment related arbitration claim which settled for $117,000.00 in damages founded on accusations that (1) fiduciary duties owed to the customer had been breached (2) due diligence was not properly executed on investments…
Tomas Juhan Velken of Lafayette California a stockbroker currently employed by Sigma Financial Corporation is referenced in a customer initiated investment related arbitration claim which was resolved for $28,195.50 in damages supported by accusations that the customer was placed into tenant in common investments which had not been adequately investigated by Sigma Financial Corporation or…
Mark Nelson Holloway of Edmond Oklahoma a stockbroker formerly registered with WFG Investments Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $10,000.00 in damages supported by allegations that (1) Holloway made omissions and misrepresentations to the customer concerning oil and gas direct investments and mutual funds and (2)…
Jacquin P. Fink of New York New York a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim in which the customer requested $3,581,198.00 in damages supported by accusations of bad investment recommendations being made to the customer concerning (1) over-the-counter equities (2)…
Randall Lee Wilbanks of Oklahoma City Oklahoma a former executive of Wilbanks Securities Inc. has been named in a customer initiated investment related arbitration claim in which the customer sought $290,000.00 in damages based upon accusations that Wilbanks was responsible for (1) making omissions or misrepresentations concerning the risks pertaining to real estate security and…
Michael Patrick Murphy of New York New York the Chief Executive Officer of Columbus Advisory Group Ltd. is the subject of a customer initiated investment related arbitration claim where the customer requested $22,500,000.00 in damages supported by accusations that the customer had been placed in direct participation program or limited partnership interests that were not…
Jordan John Boyle of Saratoga Springs Utah a stockbroker formerly employed by LPL Financial LLC is the subject of a customer initiated investment related written complaint on January 23, 2019 in which the customer requested $10,000.00 in damages founded on accusations that between September 10, 2014 and January 18, 2019, the customer was provided unsuitable…
Harvey Allan Kaluzna of Northbrook Illinois a stockbroker currently employed by Sigma Financial Corporation is the subject of a customer initiated investment related arbitration claim which was settled for $28,000.00 in damages based upon accusations that (1) misrepresentations had been made to the customer concerning unit investment trust and real estate security investments held in…
Kristian M. Gaudet of Cut Off Louisiana a stockbroker formerly registered with Ameritas Investment Corp has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Gaudet failed to cooperate with a FINRA investigation into allegations of Gaudet’s misuse of customer funds during the…
James Hal Heafner (also known as Jim Heafner) of Charlotte North Carolina a stockbroker formerly registered with Taylor Capital Management Inc and former investment adviser representative of Retirement Wealth Advisors is the subject of a customer initiated investment related arbitration claim in which the customer requested $268,015.79 in damages founded on allegations that (1) inappropriate…
Scott Vincent Kaup of Stuart Nebraska a stockbroker formerly registered with VSR Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $2,600,000.00 in damages founded on allegations that (1) misrepresentations and omissions had been made to the customer concerning investments (2) real estate security and direct…
The Financial Industry Regulatory Authority released its 2018 Examination Report, showing the areas in which the regulator has taken some form of enforcement action against brokerage firms to prevent them from taking advantage of their customers, and to “better protect investors and maintain the integrity of the markets.” The Recommendation of Unsuitable Investments First, on…
Stephen Anthony Pierce of Daphne Alabama a stockbroker formerly registered with WFG Investments Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $50,000.00 in damages based upon accusations that (1) Pierce made omissions and misrepresentations concerning the customer’s private placement investments and (2) Pierce did not undertake…
Brokerbank Securities Inc. a FINRA member brokerage firm headquartered in Minnetonka Minnesota has been censured and fined by Financial Industry Regulatory Authority (FINRA) based on the firm’s consent to findings that it failed to conduct reasonable due diligence in a private placement. Letter of Acceptance Waiver and Consent No. 2015043584501 (Sept. 10, 2018). According to…
Mitchell Steven Morrison of Westlake Village, California is a former principal of Financial West Group who is the subject of a customer initiated investment related arbitration claim where the customer sought $1,937,365.00 in damages founded on accusations that Morrison failed to supervise a registered representative who made misrepresentations to the customer and placed unsuitable oil…
Sara Zhou of Oak Brook Illinois is a stockbroker formerly registered with Financial West Group who is the subject of a customer initiated investment related arbitration claim in which the customer sought one million seven hundred eighty-one thousand one hundred fifteen dollars in damages supported by allegations that (1) misrepresentations had been made regarding oil…
Joel Matthew Price, of Gig Harbor, Washington, a stockbroker formerly registered with RP Capital LLC, has been named in a customer initiated investment related arbitration claim on August 31, 2016, in which the customer requested $158,491.00 in damages based upon allegations that Price made unsuitable investment recommendations to the customer, failed to conduct due diligence…
Garry Lynn Osing, of Cordova, Tennessee, a stockbroker currently registered with WFG Investments, Inc., has been named in a customer initiated investment related arbitration claim on January 31, 2017, in which the customer requested $30,924.00 in damages based upon allegations that Osing made unsuitable investment recommendations to the customer regarding real estate securities and equipment…
Harris W. Kirk, of Richardson, Texas, a stockbroker Reef Securities, Inc., is subject to a pending customer dispute from February 11, 2016, in which a customer has requested $250,000.00 in damages after alleging that Kirk failed to conduct due diligence concerning investments, failed to disclose investment risks to the customer, committed breach of contract, and…
Bryon E. Martinsen, of Northport, New York, a stockbroker with Centaurus Financial, Inc., was named in a customer dispute in which a customer is requesting $1,787,000.00 in damages after alleging that Martinsen sold the customer products that were unsuitable and had not been vetted with proper due diligence. According to FINRA BrokerCheck, Martinsen has also…
Financial West Group, headquartered in Westlake Village, California, was censured and fined $40,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm’s supervisory systems and procedures concerning the due diligence of private placements were inadequate. Letter of Acceptance, Waiver and Consent, No. 66483 (Aug. 16, 2016). According to the AWC, between October…