Misappropriation of Funds

Archive | Misappropriation of Funds

FINRA Bars PFS Investments Stockbroker In Customer Theft Investigation

October 19, 2021  |   Posted by :   |   Elder Financial Abuse, Investment and Regulatory News, Misappropriation of Funds   |   Comments Off on FINRA Bars PFS Investments Stockbroker In Customer Theft Investigation

Jeffrey Dampf of Totowa New Jersey a stockbroker formerly registered with PFS Investments Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he did not respond to FINRA’s instructions when he was investigated for possibly misappropriating customer funds while he was registered with […]

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FINRA Bars LPL Financial Stockbroker In Elder Theft Investigation

October 19, 2021  |   Posted by :   |   Elder Financial Abuse, Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on FINRA Bars LPL Financial Stockbroker In Elder Theft Investigation

Eric Shea Hollifield of Dacula Georgia a stockbroker formerly registered with LPL Financial LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he did not cooperate with FINRA investigators during an investigation into his possible conversion of an elderly customer’s funds during the […]

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CP Capital Securities Stockbroker Barred For Fraud

October 19, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds, Promissory Notes   |   Comments Off on CP Capital Securities Stockbroker Barred For Fraud

Jorge A. Reyes (also known as Jorge Quiroz and as George Reyes) of Miami Florida a stockbroker formerly registered with CP Capital Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA National Adjudicatory Council Decision containing findings of Reyes converting funds, making fraudulent […]

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FINRA Bars WS Brokerage Services Stockbroker In Theft Investigation

October 08, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on FINRA Bars WS Brokerage Services Stockbroker In Theft Investigation

Ronald Scott Daley of West Chester Ohio a stockbroker formerly registered with WS Brokerage Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he did not comply with the regulator’s investigation into allegations of his misuse of customer funds during the time […]

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Fifth Third Securities Stockbroker Barred In Misappropriation Investigation

October 08, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds   |   Comments Off on Fifth Third Securities Stockbroker Barred In Misappropriation Investigation

David Sheldon Wells of Chicago Illinois a stockbroker formerly registered with Fifth Third Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he failed to provide documents to FINRA and failed to testify when he was investigated for misconduct while registered with […]

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FINRA Bars Allstate Financial Stockbroker In Theft Investigation

October 08, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds   |   Comments Off on FINRA Bars Allstate Financial Stockbroker In Theft Investigation

Elizabeth Ann Sollars (also known as Elizabeth Ann Cole, Elizabeth Ann Gore, Elizabeth Ann Shaw, and as Beth Sollars) a stockbroker formerly registered with Allstate Financial Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on a FINRA Office of Hearing Officers Default Decision containing findings […]

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LPL Financial Stockbroker Accused Of Unsuitable Investment Recommendations

October 08, 2021  |   Posted by :   |   Customer Loans, Investment and Regulatory News, Misappropriation of Funds, Unsuitable Investment Recommendations   |   Comments Off on LPL Financial Stockbroker Accused Of Unsuitable Investment Recommendations

Christopher Bryan Black (also known as Chris Bryan Black) of Statesboro Georgia a stockbroker formerly registered with LPL Financial LLC is the subject of a customer initiated investment related written complaint on May 21, 2021, where the customer sought $84,166.22 in damages based upon accusations that Black provided unsuitable recommendations to them concerning municipal bonds […]

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Cambridge Stockbroker Barred By FINRA For Conversion

October 08, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Cambridge Stockbroker Barred By FINRA For Conversion

William Jeffrey Michero (also known as Jeff Michero) of Fort Worth Texas 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 converted funds as a trustee. Letter of Acceptance Waiver and Consent No. 2021072162901 (Sept. […]

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Investors File Arbitration Claim Against BCG For Sale Of Unsuitable Investments

September 03, 2021  |   Posted by :   |   Alternative Investments, Direct Participation Programs, Failure to Conduct Due Diligence, Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Investors File Arbitration Claim Against BCG For Sale Of Unsuitable Investments

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 […]

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SEC Obtains Judgement Against LPL Stockbroker For Fraud

September 01, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Securities Fraud, Stockbroker Theft   |   Comments Off on SEC Obtains Judgement Against LPL Stockbroker For Fraud

James Thomas Booth of Norwalk Connecticut a stockbroker formerly registered with LPL Financial LLC is named in a Securities and Exchange Commission (SEC) lawsuit in which SEC obtained a judgment which restrains and enjoins Booth from further violating federal securities laws based upon findings of Booth defrauding investors. Case No. 3:19-cv-01535 (Feb. 19, 2021). SEC […]

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Investors File Arbitration Claim Against FSC For Misappropriation

August 15, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft, Unit Investment Trusts (UITs)   |   Comments Off on Investors File Arbitration Claim Against FSC For Misappropriation

Leonard Voris Fox Jr. of Marlton New Jersey a stockbroker formerly registered with FSC Securities Corporation is the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $150,000.00 in damages founded on accusations that the customer’s funds had been misappropriated and that Fox misled them during the time that […]

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FINRA Bars NYLife Stockbroker For Conversion

August 06, 2021  |   Posted by :   |   Elder Financial Abuse, Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on FINRA Bars NYLife Stockbroker For Conversion

Jeffrey Scott Anderson of Bloomington Illinois a stockbroker formerly registered with NYLife Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Anderson converted a customer’s funds. Letter of Acceptance Waiver and Consent No. 2020067888701 (Aug. 2, 2021). According to the AWC, Anderson’s […]

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Regulator Sanctions Janney Montgomery Scott Stockbroker

August 06, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Regulator Sanctions Janney Montgomery Scott Stockbroker

John Joseph Cahill of Upper Saddle River New Jersey a stockbroker formerly registered with Janney Montgomery Scott LLC is referenced in a New Jersey Bureau of Securities Summary Revocation Order in which his stockbroker and investment adviser representative registrations have been revoked based on him violating FINRA rules and the policies of Janney Montgomery Scott. […]

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Merrill Lynch Stockbroker Barred By SEC For Fraud

August 06, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Merrill Lynch Stockbroker Barred By SEC For Fraud

Christopher Lee Hibbard (also known as Chris Hibbard) of Louisville Kentucky a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been barred as stockbroker and as investment adviser representative according to a Securities and Exchange Commission (SEC) Order based on findings of Hibbard committing fraud. In the Matter of Christopher Lee Hibbard […]

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Royal Alliance Stockbroker Barred In Theft Investigation

July 31, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Royal Alliance Stockbroker Barred In Theft Investigation

John Henry Swon IV of Bloomington Minnesota a stockbroker formerly registered with Royal Alliance Associates Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he chose not to provide documents and information to FINRA when it investigated him for possibly misappropriating a customer’s […]

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Wells Fargo Stockbroker Barred In Theft Investigation

July 31, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Wells Fargo Stockbroker Barred In Theft Investigation

Tyler Michael Rigsbee of Sacramento California a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Rigsbee refused to provide FINRA with documents and information in an investigation into his possible misuse of customer funds. […]

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GWN Stockbroker Barred By FINRA In Theft Investigation

July 31, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on GWN Stockbroker Barred By FINRA In Theft Investigation

Ronald Joseph Giovino Jr. of Clearwater Florida a stockbroker formerly registered with GWN Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he failed to comply with FINRA’s request when he was investigated for conversion of customer funds at GWN Securities. Letter […]

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SEC Charges LPL Stockbroker With Fraud

July 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds, Securities Fraud, Stockbroker Theft   |   Comments Off on SEC Charges LPL Stockbroker With Fraud

James Kenneth Couture of Worchester Massachusetts a former stockbroker of LPL Financial LLC and former investment adviser representative of Private Wealth Management Group has been charged by Securities and Exchange Commission (SEC) with taking part in a scheme to misappropriate $2,900,000.00 from investors. Civil Action No. 1:21-CV-10908 (D. Mass June 1, 2021). According to the […]

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Investors File Securities Arbitration Claim Morgan Stanley For Palm Beach Stockbroker Theft

July 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Investors File Securities Arbitration Claim Morgan Stanley For Palm Beach Stockbroker Theft

David Wayne Kraft of Palm Beach Gardens Florida a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $716,528.06 in damages founded on accusations that the customer’s funds had been “removed from their account without the customer’s authorization”  during the […]

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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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