Margin Account Fraud

Archive | Margin Account Fraud

Sheriff Cracks Down On Robinhood For Stealing From The Poor and Unsophisticated

July 31, 2021  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News, Margin Account Fraud   |   Comments Off on Sheriff Cracks Down On Robinhood For Stealing From The Poor and Unsophisticated

Robinhood Financial LLC a securities broker dealer headquartered in Menlo Park California has been censured and fined $57,000,000.00 by Financial Industry Regulatory Authority (FINRA) based in part on findings that Robinhood Financial provided customers with misleading and false information about their accounts, authorized margin use in the accounts of customers against their wishes, and failed […]

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David Noyes Stockbroker Accused Of Margin Fraud

September 14, 2020  |   Posted by :   |   Margin Account Fraud, Securities Arbitration Claims, Securities Fraud   |   Comments Off on David Noyes Stockbroker Accused Of Margin Fraud

Stuart L. Pearl of Indianapolis Indiana a stockbroker formerly registered with David A. Noyes Company is the subject of a customer initiated investment related written complaint on May 18, 2020 in which the customer requested $2,088,124.00 in damages based upon allegations of a margin trading account being created by the stockbroker without the customer’s knowledge […]

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Investors Accuse Aegis Capital Corp Of Margin Fraud

April 18, 2020  |   Posted by :   |   Churning, Excessive Trading, Investment and Regulatory News, Margin Account Fraud, Securities Fraud, Unauthorized Trading   |   Comments Off on Investors Accuse Aegis Capital Corp Of Margin Fraud

Gregory Spencer O’Brien of New York New York a stockbroker formerly employed by Aegis Capital Corp has been identified in a customer initiated investment related complaint on April 12, 2019 where the customer sought $153,300.00 in damages founded on accusations that margin was inappropriately utilized to effect securities transactions for the customer’s Aegis Capital Corp […]

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Investors Sue Woodstock Financial Group For Fraud

April 08, 2020  |   Posted by :   |   Boilerroom Sales, Excessive Trading, Margin Account Fraud, Securities Arbitration Claims, Securities Fraud, Unsuitable Investment Recommendations   |   Comments Off on Investors Sue Woodstock Financial Group For Fraud

Dennis James Murphy of Red Bank New Jersey a stockbroker formerly employed by Woodstock Financial Group has been identified in a customer initiated investment related arbitration claim where the customer sought $21,982.00 in damages founded on accusations of the customer being defrauded on over-the-counter equities trades effected by Murphy when he was associated with Woodstock […]

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Investors Continue To Sue Defunct First Standard Boilerroom

April 08, 2020  |   Posted by :   |   Boilerroom Sales, Breach of Fiduciary Duty, FINRA Securities Arbitration, Margin Account Fraud, Securities Arbitration Claims   |   Comments Off on Investors Continue To Sue Defunct First Standard Boilerroom

Carl George Antaki of Melville New York a stockbroker formerly employed by First Standard Financial Company LLC has been identified in a customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages founded on accusations of bad stock trades being executed in the customer’s account during the time that Antaki was employed […]

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Another First Standard Stockbroker Barred For Fraud

April 08, 2020  |   Posted by :   |   Boilerroom Sales, Churning, Excessive Markups, FINRA Securities Arbitration, Margin Account Fraud, Securities Arbitration Claims, Securities Fraud, Unauthorized Trading   |   Comments Off on Another First Standard Stockbroker Barred For Fraud

William Christian Gennity (also known as Billy Gennity) of Staten Island New York a stockbroker formerly registered with First Standard Financial Company LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that the stockbroker failed to comply with a FINRA Arbitration Award in which […]

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JP Morgan Sued By Investors For Over-Concentration

Rick Douglas Konecny of Chicago Illinois a stockbroker formerly associated with JP Morgan Securities LLC has been referenced in a customer initiated investment related arbitration claim which was resolved for $30,000.00 in damages supported by allegations of an overconcentration of the customer’s assets in high-risk investments which led the customer to experience losses. Financial Industry […]

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Legend Securities Sued By Investors For Fraud

Steven John Meyer of Staten Island New York a stockbroker formerly associated with Legend Securities Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer was awarded $110,622.95 in compensatory damages supported by Meyer and Legend Securities being found liable on the customer’s claims which included that (1) transactions […]

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Investors Sue Titus Rockefeller For Fraud

David Michael Levy of Wellington Florida a stockbroker formerly registered with Titus Rockefeller LLC (also known as TR Capital Group LLC) is the subject of a customer initiated investment related arbitration claim where the customer requested $1,554,000.00 in damages founded on accusations that (1) fiduciary duties were not complied with (2) the extension of margin […]

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Legend Securities Stockbroker Barred In FINRA Investigation

Jason Harris Klabal of New York New York a stockbroker formerly employed by Legend Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Klabal neglected to cooperate with a FINRA inquiry which may have concerned customer disputes that were filed by customers […]

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FINRA Sanctions Axos Clearing For Margin Account Fraud

July 22, 2019  |   Posted by :   |   Investment and Regulatory News, Margin Account Fraud   |   0 Comments

Axos Clearing LLC a securities brokerage firm headquartered in Omaha Nebraska has been censured and fined $250,000.00 by Financial Industry Regulatory Authority (FINRA) founded on findings that the firm failed to make disclosures to customers regarding margin interest charges which prevented customers from both ascertaining the terms and conditions relating to their margin accounts and […]

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Investors accuse Wells Fargo Of Unauthorized Trading

Debra Logan (also known as Debbie Bloustine) of Oklahoma City Oklahoma a stockbroker currently employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on August 3, 2018 where the customer sought damages estimated to exceed $5,000.00 supported by accusations that between November 5, 2010 and July 16, […]

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Investors Sue Sigma Financial For Fraud

Richard Marvin Muhlberg of Cherry Hill New Jersey a stockbroker formerly employed by Sigma Financial Corporation and Sigma Planning Corporation is referenced in a customer initiated investment related arbitration claim where the customer was awarded $17,900.00 in compensatory damages based upon Muhlberg being found liable on the customer’s claims that (1) real estate investment trust […]

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Investors Sue Spartan Capital For Securities Fraud

John Dennis Lowry of New York New York the Chief Executive Officer and Managing Member of Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim in which customers were collectively awarded $330,000.00 based upon findings that Lowry and Spartan Capital Securities LLC (1) breached fiduciary duties to the customer (2) […]

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Investors Sue American Capital Partners For Unauthorized Transactions

Michael Montelli of Hauppauge New York a stockbroker currently registered with American Capital Partners LLC is referenced in a customer initiated investment related written complaint on April 11, 2017 in which the customer requested damages estimated to exceed $5,000.00 in damages founded on accusations that (1) margin was utilized without the customer’s permission (2) unauthorized […]

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SW Financial Sued By Investor For Churning

Joseph Lianzo of Melville New York a stockbroker currently registered with SW Financial is referenced in a customer initiated investment related arbitration claim where the customer requested $108,215.00 in damages supported by allegations that (1) contractual obligations to the customer were breached (2) unauthorized trades were executed in the customer’s account (3) the customer’s account […]

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Investors Sue Worden Capital For Typical Boilerroom Conduct

Richard Foerster Reynolds of Melville New York a stockbroker currently registered with Worden Capital Management LLC is referenced in a customer initiated investment related complaint which settled for $150,000.00 on May 10, 2018 supported by accusations that Reynolds (1) churned the customer’s account (2) charged the customer with excessive commissions (3) effected transactions in the […]

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