Misappropriation of Funds

Archive | Misappropriation of Funds

Following SEC Action Investors Accuse Royal Alliance Of Investment Fraud

July 12, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Securities Fraud   |   Comments Off on Following SEC Action Investors Accuse Royal Alliance Of Investment Fraud

Kimberly Pine Kitts of Palmer Massachusetts a stockbroker formerly registered with Royal Alliance Associates Inc. is the subject of a customer initiated investment related complaint which was resolved for $232,761.77 in damages on October 17, 2019 based upon accusations that the customer had been defrauded by the stockbroker during the time that she was associated […]

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Mutual Of Omaha Stockbroker Pleads Guilty To Securities Fraud

July 07, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Ponzi Schemes, Stockbroker Theft   |   Comments Off on Mutual Of Omaha Stockbroker Pleads Guilty To Securities Fraud

Edward Earl Matthes of Milwaukee Wisconsin a stockbroker formerly registered with Mutual of Omaha Investor Services has received a 63-month jail sentence based on him pleading guilty to violating federal securities laws as 27 victims had been defrauded in his $2,600,000.00 investment scheme. United States v. Edward E. Matthes 20-cr-0220-bhl (E.D. Wis. May 20, 2021). […]

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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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SEC Charges Benjamin Jerold Stockbroker With Securities Fraud

June 12, 2021  |   Posted by :   |   Hedge Funds, Investment and Regulatory News, Misappropriation of Funds   |   Comments Off on SEC Charges Benjamin Jerold Stockbroker With Securities Fraud

Rand Alan Heckler of Glen Cove New York a stockbroker formerly registered with Benjamin Jerold Brokerage I LLC has been charged by Securities and Exchange Commission (SEC) with defrauding investors. SEC v. Rand Heckler and Rand Heckler Inc. Civil Action No. 1:20-cv-04654 (Sept. 30, 2020). According to the Complaint, in 2015, a senior investor’s securities […]

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FINRA Bars PFS Stockbroker In Investigation Over Customer Estate

May 31, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds   |   Comments Off on FINRA Bars PFS Stockbroker In Investigation Over Customer Estate

Eric John Vici of Melbourne Florida a stockbroker formerly registered with PFS Investments Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Vici hindered FINRA’s investigation into accusations of his misuse of customer funds. Letter of Acceptance Waiver and Consent No. 2021069176201 (May […]

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FINRA Bars BMA Stockbroker In Investigation

April 18, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds   |   Comments Off on FINRA Bars BMA Stockbroker In Investigation

Gregory Jon Mancuso of El Segundo California a stockbroker formerly registered with BMA Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a Default Decision containing findings that Mancuso lied to FINRA investigators while he testified about his involvement with two customers’ fund transfers. […]

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Investors File Securities Arbitration Claim Against LPL Financial For Stockbroker Theft

April 18, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Investors File Securities Arbitration Claim Against LPL Financial For Stockbroker Theft

Matthew O. Clason of Glastonbury Connecticut a stockbroker formerly registered with LPL Financial LLC is the subject of a customer initiated investment related FINRA securities arbitration claim which settled for $1,000,000.00 in damages on February 22, 2021 based upon accusations that the customer’s assets had been converted by Clason between 2015 and 2020 while Clason […]

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HD Vest Stockbroker Accused of Stealing $1 Million

March 31, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on HD Vest Stockbroker Accused of Stealing $1 Million

Erin Lynn Verespy of Trumbull Connecticut a stockbroker formerly registered with HD Vest Investment Services has been issued a Cease and Desist Order by the Banking Commissioner of the State of Connecticut founded on allegations of Verespy engaging in outside business activities, failing to disclose lawsuits, and borrowing funds from a customer of HD Vest […]

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FINRA Bars MML Stockbroker In Investigation

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on FINRA Bars MML Stockbroker In Investigation

Chad T. Mackland of Council Bluff Iowa a stockbroker formerly registered with MML Investors Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Mackland neglected to provide information and documents to FINRA when it investigated him for accusations of fraud. Letter of Acceptance […]

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Raymond James Stockbroker Charged By SEC With Fraud

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds, Securities Fraud, Stockbroker Theft   |   Comments Off on Raymond James Stockbroker Charged By SEC With Fraud

Mark Joseph Boucher of Carlsbad California a former stockbroker of Raymond James Financial Services and former investment adviser representative of SCF Investment Advisors Inc. has been charged by Securities and Exchange Commission (SEC) with engaging in a fraudulent scheme during the period that he controlled Strategic Wealth Advisors Group (SWAG). Securities and Exchange Commission v. […]

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Investors File Arbitration Claim Against Securities America For Fraud

March 18, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds, Non-traded REITs   |   Comments Off on Investors File Arbitration Claim Against Securities America For Fraud

Jaime Michael Westenbarger of Grand Rapids Michigan a stockbroker formerly registered with Securities America Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $100,000.00 in damages supported by accusations of the breach of both a contract and fiduciary duty by the stockbroker in reference to real […]

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Morgan Stanley Stockbroker Barred By State Regulator For Fraud

March 18, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Morgan Stanley Stockbroker Barred By State Regulator For Fraud

Michael Barry Carter (also known as Mike Carter) of McClean Virginia a stockbroker formerly registered with Morgan Stanley has been fined $220,000.00 and barred by the State of Maryland from being a stockbroker or investment adviser representative supported by allegations that he defrauded investors. Case No. 2019-0176 (Dec. 15, 2020). According to the Consent Order, […]

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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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Cambridge Stockbroker Barred For Obstructing Theft Investigation

February 16, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds   |   Comments Off on Cambridge Stockbroker Barred For Obstructing Theft Investigation

Michael Paul Francoeur of Somersworth New Hampshire a stockbroker formerly registered with Cambridge Investment Research has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he failed to comply with FINRA’s investigation into accusations of his misappropriation. Letter of Acceptance Waiver and Consent No. 2019064967501 […]

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Investors Accuse Hornor Townsend Of Unsuitable Recommendations

February 01, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Investors Accuse Hornor Townsend Of Unsuitable Recommendations

Sam Peter Paolini of New York New York a stockbroker formerly registered with Hornor Townsend Kent Inc. is the subject of a customer initiated investment related written complaint on November 13, 2020 where the customer requested $141,222.00 in damages supported by accusations that the customer had been told to buy a whole life insurance policy […]

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FINRA Bars Centaurus Stockbroker In Investigation

February 01, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Selling Away and Outside Activities, Stockbroker Theft   |   Comments Off on FINRA Bars Centaurus Stockbroker In Investigation

Jonathan H. Dudley of Atlanta Georgia a stockbroker formerly registered with Centaurus Financial has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Dudley failed to comply with FINRA while he was under investigation for potentially misusing a customer’s funds. Letter of Acceptance Waiver and […]

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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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Investor Seek to Even Score Priority Corp For Rogue Broker

January 19, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Investor Seek to Even Score Priority Corp For Rogue Broker

Eugene Arthur Riggio Jr. of New York New York a stockbroker formerly registered with Score Priority Corp (formerly known as Whotrades Inc.) is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $10,000.00 in damages based upon allegations of unsuitable recommendations being made by the stockbroker as it […]

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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 Investigates Stockkings Stockbroker For Conversion

January 03, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on FINRA Investigates Stockkings Stockbroker For Conversion

Gregory Antonius Lewis of New York New York a stockbroker currently registered with Stockkings Capital LLC is referenced in a Financial Industry Regulatory Authority (FINRA) investigation regarding allegations of Lewis possibly misusing customer funds and effecting unsuitable transactions in customer accounts. Case No. 20190606487 (Dec. 16, 2019). FINRA Public Disclosure reveals that Department of Enforcement […]

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FINRA Bars Citigroup Stockbroker In Customer Theft Investigation

January 03, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on FINRA Bars Citigroup Stockbroker In Customer Theft Investigation

Najib Hossain Khan of Richmond Hill New York a stockbroker formerly registered with Citigroup Global Markets Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Khan neglected to cooperate with FINRA personnel during the period that he was investigated for theft of customer […]

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Allstate Stockbroker Barred By FINRA In Investigation

December 22, 2020  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Allstate Stockbroker Barred By FINRA In Investigation

David Alan Stateman of Miami Florida a stockbroker formerly registered with Allstate Financial Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he did not comply with FINRA personnel while he was under investigation for taking funds from a customer and for […]

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Investors Bring FINRA Arbitration Claim Against Morgan Stanley For Stockbroker Theft

December 01, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Investors Bring FINRA Arbitration Claim Against Morgan Stanley For Stockbroker Theft

Barry Franklin Connell of Ridgewood New Jersey a stockbroker formerly registered with Morgan Stanley Smith Barney is referenced in a customer initiated investment related arbitration claim which was resolved for $1,350,000.00 in damages supported by allegations that the customer’s funds had been misappropriated by the stockbroker’s actions at Morgan Stanley. Financial Industry Regulatory Authority (FINRA) […]

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FINRA Bars Cambridge Stockbroker In Wire Fraud Investigation

November 30, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds, Securities Fraud, Stockbroker Theft   |   Comments Off on FINRA Bars Cambridge Stockbroker In Wire Fraud Investigation

Lynn Dale Cawthorne of Shreveport Louisiana a stockbroker formerly registered with Cambridge Investment Research Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a Decision and Order of Offer of Settlement containing findings of Cawthorne failing to comply with FINRA during an investigation concerning Cawthorne’s […]

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DA Davidson Stockbroker Barred In Theft Investigation

November 04, 2020  |   Posted by :   |   Misappropriation of Funds, Securities Arbitration Claims, Stockbroker Theft   |   Comments Off on DA Davidson Stockbroker Barred In Theft Investigation

Kathleen Marie Bott (also known as Kathy Bott) of Spokane Washington a stockbroker formerly employed by DA Davidson Co. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Bott neglected to comply with FINRA when she was under investigation for committing theft. Letter of […]

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Investors Bring FINRA Claim Against First Financial Equity Corp For Stockbroker Theft

November 04, 2020  |   Posted by :   |   Misappropriation of Funds, Securities Arbitration Claims, Stockbroker Theft   |   Comments Off on Investors Bring FINRA Claim Against First Financial Equity Corp For Stockbroker Theft

David John Volpe of Scottsdale Arizona a stockbroker employed by First Financial Equity Corporation is referenced in a customer initiated investment related arbitration claim in which the customer sought more than $5,000.00 in damages founded on allegations that the customer’s funds had been converted by the stockbroker. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-02492 […]

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Spartan Capital Stockbroker Sanctioned In Outside Business Scam

November 04, 2020  |   Posted by :   |   Misappropriation of Funds, Securities Arbitration Claims, Selling Away and Outside Activities, Stockbroker Theft   |   Comments Off on Spartan Capital Stockbroker Sanctioned In Outside Business Scam

Pratul Victor Agnihotri (also known as Pratol Victor Agnihotri) of Melville New York a stockbroker formerly registered with Aegis Capital Corp. and Spartan Capital Securities LLC has been fined $7,500.00 and suspended for twelve months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Agnihotri engaged in […]

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SEC Bars Stifel Nicolaus Stockbroker For Misappropriation

November 04, 2020  |   Posted by :   |   Misappropriation of Funds, Securities Arbitration Claims, Stockbroker Theft   |   Comments Off on SEC Bars Stifel Nicolaus Stockbroker For Misappropriation

Steven Dale Rodemer of Pueblo Colorado a stockbroker formerly registered with Stifel Nicolaus Company Incorporated is the subject of a Securities Exchange Commission (SEC) Administrative Order in which he has been barred from being a stockbroker or investment adviser representative and has been barred from being employed by any securities broker dealer or investment advisory […]

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Haddon Heights Stockbroker Barred For Stealing From Elderly

November 04, 2020  |   Posted by :   |   Misappropriation of Funds, Securities Arbitration Claims, Stockbroker Theft   |   Comments Off on Haddon Heights Stockbroker Barred For Stealing From Elderly

Sean Michael Refsnider of Haddon Heights New Jersey a stockbroker formerly registered with Ameriprise Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Order Accepting Offer of Settlement containing findings of Refsnider failing to cooperate with a […]

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