Private Placement Fraud

Archive | Private Placement Fraud

Investors File FINRA Securities Arbitration Claim Against David Lerner For Misrepresentation

October 19, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Private Placement Fraud, Unsuitable Investment Recommendations   |   Comments Off on Investors File FINRA Securities Arbitration Claim Against David Lerner For Misrepresentation

Daniel Todd Lerner of White Plains New York a stockbroker currently registered with David Lerner Associates Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $450,000.00 in damages founded upon accusations of misrepresentations and omissions regarding mutual fund transactions and a private placement offering during […]

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Investors File Securities Arbitration Claim Against National Securities Over Private Placements

October 19, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Private Placement Fraud   |   Comments Off on Investors File Securities Arbitration Claim Against National Securities Over Private Placements

James Lee Greene (also known as Herbie Greene) of Boca Raton Florida a stockbroker currently registered with National Securities Corporation is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $100,000.00 in damages based upon accusations that they invested in an unsuitable private placement because of Greene when […]

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Investors File FINRA Securities Arbitration Claim Against Royal Alliance Associates

October 08, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Private Placement Fraud, Unsuitable Investment Recommendations   |   Comments Off on Investors File FINRA Securities Arbitration Claim Against Royal Alliance Associates

Frank Mastrosimone of Basking Ridge New Jersey a stockbroker formerly registered with Royal Alliance Associates is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $100,000.00 in damages supported by accusations that they had been placed into an unsuitable private investment fund by Mastrosimone while he was […]

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Investors Accuse Cadaret Grant Stockbroker Of Breach Of Fiduciary Duty

October 08, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Private Placement Fraud   |   Comments Off on Investors Accuse Cadaret Grant Stockbroker Of Breach Of Fiduciary Duty

Gerald Roger Dewes of East Amherst New York a stockbroker formerly registered with Cadaret Grant Co. Inc. is referenced in a customer initiated investment related written complaint on April 7, 2021, in which the customer requested more than $5,000.00 in damages based on allegations of a breach of fiduciary duty by Dewes as it pertained […]

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Investors Accuse Concorde Of Unsuitable Private Placements

September 16, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Private Placement Fraud   |   Comments Off on Investors Accuse Concorde Of Unsuitable Private Placements

Robert Scott Smith of Newberg Oregon a stockbroker formerly registered with Concorde Investment Services is the subject of a customer initiated investment related written complaint on May 10, 2021 in which the customer sought $678,500.00 in damages supported by accusations that they had been sold unsuitable private placements by Smith while he was registered with […]

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Investors File Securities Arbitration Claim Against Laidlaw For Private Placement Fraud

September 16, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Private Placement Fraud, Unauthorized Trading, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against Laidlaw For Private Placement Fraud

Kevin Richard Wilson of New York New York a stockbroker formerly registered with Laidlaw Company (UK) Ltd. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $100,000.00 in damages supported by accusations that they had been sold unsuitable private placements and over-the-counter equities by Wilson during the period […]

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Investors File FINRA Arbitration Claim Against National Securities For Bad Private Placements

September 01, 2021  |   Posted by :   |   Investment and Regulatory News, Private Placement Fraud, Unsuitable Investment Recommendations   |   Comments Off on Investors File FINRA Arbitration Claim Against National Securities For Bad Private Placements

Vincent John Villani of New York New York a stockbroker formerly registered with National Securities Corporation is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $50,000.00 in damages based upon accusations of Villani making unsuitable private placement recommendations or sales at National Securities Corp which resulted in losses […]

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Boustead Securities Sued For Excessive Commissions

August 26, 2021  |   Posted by :   |   Investment and Regulatory News, Private Placement Fraud   |   Comments Off on Boustead Securities Sued For Excessive Commissions

Melvin Pirchesky (also known as Mel Pirchesky) of Irvine California a stockbroker formerly registered with Boustead Securities LLC is named in an investment related civil action in which the investor requested $871,021.18 in damages supported by accusations that excessive commissions had been charged on a private placement transaction that Pirchesky arranged during the time that […]

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Investors File Arbitration Claim Against Dinosaur Financial For Fraud

August 15, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Private Placement Fraud, Selling Away and Outside Activities   |   Comments Off on Investors File Arbitration Claim Against Dinosaur Financial For Fraud

Gerald Lee Brodsky of New York New York a stockbroker formerly registered with Dinosaur Financial Group LLC is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $800,000.00 in damages based on accusations that the customer was placed into Concord Group Holdings through a private placement offering and that […]

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Investors File Securities Arbitration Claim Against Titan Securities For Fraudulent REIT Sales

August 06, 2021  |   Posted by :   |   Alternative Investments, Breach of Fiduciary Duty, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Over Concentration, Private Placement Fraud   |   Comments Off on Investors File Securities Arbitration Claim Against Titan Securities For Fraudulent REIT Sales

Walter Warren Parker of Rowlett Texas a stockbroker formerly registered with Titan Securities is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $95,000.00 in damages supported by accusations of negligence regarding the sale of interests in a private placement and the sale of a real estate security […]

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DH Hill Sanctioned By FINRA For Unauthorized Transactions

August 06, 2021  |   Posted by :   |   Investment and Regulatory News, Private Placement Fraud, Unregistered Securities   |   Comments Off on DH Hill Sanctioned By FINRA For Unauthorized Transactions

DH Hill Securities LLLP a securities broker dealer headquartered in Kingwood Texas has been censured and fined by Financial Industry Regulatory Authority (FINRA) supported by findings that the securities broker dealer made unregistered securities transactions. Letter of Acceptance Waiver and Consent No. 2019063187001 (July 22, 2021). According to the AWC, from August of 2015 to […]

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Investors File FINRA Claim Against FSR Advisory Services For Unsuitable Recommendations

August 06, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Private Placement Fraud   |   Comments Off on Investors File FINRA Claim Against FSR Advisory Services For Unsuitable Recommendations

Scott Vincent Kaup of Stuart Nebraska a stockbroker formerly registered with FSR Advisory Services is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested more than $5,000.00 in damages supported by accusations that Kaup provided unsuitable recommendations to the customer regarding private placements and real estate securities transactions […]

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Axiom Sued By Investors For Unsuitable Investment Recommendations

July 12, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Private Placement Fraud, Unsuitable Investment Recommendations   |   Comments Off on Axiom Sued By Investors For Unsuitable Investment Recommendations

Jennifer W. Ling (also known as Jenifer W. Li) of New York New York a stockbroker formerly registered with Axiom Capital Management Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $150,000.00 in damages based upon accusations that Ling provided unsuitable recommendations concerning an alternative investment that […]

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Investors File FINRA Arbitration Claim Against National Securities For Unsuitable Recommendations

July 07, 2021  |   Posted by :   |   Investment and Regulatory News, Non-traded REITs, Private Placement Fraud   |   Comments Off on Investors File FINRA Arbitration Claim Against National Securities For Unsuitable Recommendations

Thomas Edison Kelly Jr. of New York New York a stockbroker formerly registered with National Securities Corp is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer sought more than $5,000.00 in damages based upon accusations that they were sold unsuitable private placements by Kelly while he was associated […]

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Investors File Securities Arbitration Claim Against David A. Noyes For Alternative Investments

June 12, 2021  |   Posted by :   |   Alternative Investments, Investment and Regulatory News, Private Placement Fraud   |   Comments Off on Investors File Securities Arbitration Claim Against David A. Noyes For Alternative Investments

James Arthur Allen (also known as Jim Allen) of Chicago Illinois a stockbroker formerly registered with David A. Noyes is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $160,000.00 in damages based upon allegations that the customer had been sold an unsuitable alternative investment by Allen through David […]

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Investors File Securities Arbitration Claim Against Western International Securities

June 12, 2021  |   Posted by :   |   Direct Participation Programs, Investment and Regulatory News, Private Placement Fraud   |   Comments Off on Investors File Securities Arbitration Claim Against Western International Securities

Clement Lancelot Chichester (also known as Clement Ignatius Chichester) of Westlake Village California a stockbroker formerly registered with Western International Securities Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested between $250,000.00 and $500,000.00 in damages supported by accusations that the customer received bad investment advice from […]

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FINRA Sanctions Woodrock Securities Stockbroker For Selling Outside Investments

March 08, 2021  |   Posted by :   |   Investment and Regulatory News, Private Placement Fraud, Promissory Notes, Selling Away and Outside Activities   |   Comments Off on FINRA Sanctions Woodrock Securities Stockbroker For Selling Outside Investments

Sean Daniel McDevitt of Houston Texas a stockbroker formerly registered with Woodrock Securities LP has been fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that McDevitt engaged in outside business activities while registered with Woodrock. Letter of Acceptance Waiver and […]

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Joseph Gunnar Sued By Investors For Failure To Supervise

February 16, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Private Placement Fraud   |   Comments Off on Joseph Gunnar Sued By Investors For Failure To Supervise

Joseph Anthony Alagna Jr. the Chief Executive Officer of Joseph Gunnar Co. LLC is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $340,000.00 in damages founded on allegations that Alagna failed to supervise a Joseph Gunnar stockbroker who sold customers bad private placements. Financial Industry Regulatory Authority […]

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Uhlmann Price Stockbroker Accused Of Unsuitable Trading

February 01, 2021  |   Posted by :   |   Closed End Funds, Investment and Regulatory News, Private Placement Fraud, Promissory Notes   |   Comments Off on Uhlmann Price Stockbroker Accused Of Unsuitable Trading

John James Hoidas of Chicago Illinois a stockbroker formerly registered with Uhlmann Price Securities LLC is referenced in a customer initiated investment related written complaint which was settled for $12,500.00 on October 6, 2020 founded on allegations of unsuitable closed-end fund transactions being effected in the customer’s account by Hoidas while he was registered with […]

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FINRA Sanctions Growth Capital Services For Misrepresentation

February 01, 2021  |   Posted by :   |   Investment and Regulatory News, Private Placement Fraud   |   Comments Off on FINRA Sanctions Growth Capital Services For Misrepresentation

Growth Capital Services Inc. a securities broker dealer headquartered in San Francisco California has been censured and fined $35,000.00 by Financial Industry Regulatory Authority (FINRA) based on findings that it made misleading statements to prospective investors regarding private placements. Letter of Acceptance Waiver and Consent No. 2019060721801 (Jan. 15, 2021). According to the AWC, Growth […]

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Hornor Townsend Stockbroker Caught Selling Away Brother’s Ponzi Scheme

February 01, 2021  |   Posted by :   |   Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Ponzi Schemes, Private Placement Fraud, Securities Arbitration Claims, Securities Fraud   |   Comments Off on Hornor Townsend Stockbroker Caught Selling Away Brother’s Ponzi Scheme

Gary Wayne Hammond of Charlotte North Carolina a stockbroker formerly registered with Hornor Townsend Kent Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he was selling away from MML Investors and that he referred customers to fraudulent investments. Letter of Acceptance Waiver […]

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SEC Sanctions Worden Stockbroker For Securities Fraud

February 01, 2021  |   Posted by :   |   Boilerroom Sales, FINRA Securities Arbitration, Investment and Regulatory News, Private Placement Fraud   |   Comments Off on SEC Sanctions Worden Stockbroker For Securities Fraud

John Michael LoPinto of New York New York a stockbroker formerly registered with Worden Capital Management and investment adviser representative of Keyport Venture Advisors LLC has been censured and fined $40,000.00 according to a Securities and Exchange Commission (SEC) Order containing findings that LoPinto made misrepresentations to investors concerning pooled investment vehicles. In the Matter […]

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Concorde CEO Charged With Securities Fraud

February 01, 2021  |   Posted by :   |   Investment and Regulatory News, Private Placement Fraud, Securities Fraud, Stockbroker Theft   |   Comments Off on Concorde CEO Charged With Securities Fraud

Craig Anthony Zabala of Harlem New York a stockbroker formerly registered with John W. Loofbourrow Associates and CEO of Concorde Group Holdings has been charged by Securities and Exchange Commission (SEC) with making misrepresentations to investors and misappropriating their funds. Securities and Exchange Commission v. Craig A. Zabala et al. Case No. 1:20-cv-07880 (Sept. 24, […]

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FINRA Bars Foreside Stockbroker In Promissory Note Scam

December 22, 2020  |   Posted by :   |   Investment and Regulatory News, Private Placement Fraud, Selling Away and Outside Activities   |   Comments Off on FINRA Bars Foreside Stockbroker In Promissory Note Scam

Michael Edward Magill of Portland Maine a stockbroker formerly registered with Foreside Fund Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Magill effected private securities transactions. Letter of Acceptance Waiver and Consent No. 2019064830701 (Dec. 7, 2020). According to the AWC, […]

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Investors File Arbitration Claim Against Landolt Securities For Private Placement Sales

December 22, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Over Concentration, Private Placement Fraud   |   Comments Off on Investors File Arbitration Claim Against Landolt Securities For Private Placement Sales

Anthony Matthew Cottone of Boca Raton Florida a stockbroker formerly registered with Landolt Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $260,000.00 in damages supported by allegations of the customer’s assets being overconcentrated in private placements and allegations of transactions not being supervised by Landolt Securities. Financial […]

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Investors Bring FINRA Arbitration Claim Against National Securities

December 01, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Private Placement Fraud   |   Comments Off on Investors Bring FINRA Arbitration Claim Against National Securities

Rodrigue Lors (also known as Rodrique Lors) of Westbury New York a stockbroker formerly employed by National Securities Corporation is referenced in a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages supported by accusations that the customer had been placed into unsuitable private placement securities by Lors at National […]

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Investors Bring FINRA Arbitration Claim Against Western International For Private Placement Fraud

November 30, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Private Placement Fraud, Securities Fraud   |   Comments Off on Investors Bring FINRA Arbitration Claim Against Western International For Private Placement Fraud

Brittney Jade Sias (also known as Rosalie P. Sias) of Westlake Village California a stockbroker formerly registered with Western International Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested up to $500,000.00 in damages based upon allegations of bad investment advice concerning non-traded real estate investment trusts […]

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Investors Bring FINRA Arbitration Claim Against Ausdal Financial For Fraudulent Private Placements

November 04, 2020  |   Posted by :   |   Private Placement Fraud, Securities Arbitration Claims, Securities Fraud   |   Comments Off on Investors Bring FINRA Arbitration Claim Against Ausdal Financial For Fraudulent Private Placements

Randy Lee Birkinbine of North Oaks Minnesota a stockbroker currently registered with Ausdal Financial Partners Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $109,000.00 in damages based upon allegations of illiquid and unsuitable investments including private placements and real estate securities which led to an over-concentration in […]

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Investors Bring FINRA Arbitration Claims Against American Capital For Private Placement Scam

November 04, 2020  |   Posted by :   |   Private Placement Fraud, Securities Arbitration Claims, Selling Away and Outside Activities   |   Comments Off on Investors Bring FINRA Arbitration Claims Against American Capital For Private Placement Scam

Anthony Vultaggio Jr. of East Meadow New York a stockbroker formerly registered with American Capital Partners LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $1,000,000.00 in damages based upon allegations that the customer had been placed into an inappropriate private placement by Vultaggio during the time that […]

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Investors Accuses Huntleigh Securities Of Buying Private Placement Without Permission

October 08, 2020  |   Posted by :   |   Alternative Investments, Private Placement Fraud, Securities Arbitration Claims, Unauthorized Trading   |   Comments Off on Investors Accuses Huntleigh Securities Of Buying Private Placement Without Permission

Scott Thomas Wolfrum of Indianapolis Indiana a stockbroker formerly registered with Huntleigh Securities Corporation is the subject of a customer initiated investment related written complaint which was settled for $449,300.00 on April 9, 2019 based upon accusations that the customer was placed into a private placement without authorization in January of 2018 when Wolfrum was […]

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