Private Placement Fraud

Archive | Private Placement Fraud

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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FINRA Sanctions Tripoint For Private Placement Misconduct

November 04, 2020  |   Posted by :   |   Private Placement Fraud, Securities Arbitration Claims   |   Comments Off on FINRA Sanctions Tripoint For Private Placement Misconduct

Tripoint Global Equities LLC a securities broker dealer headquartered in New York New York has been censured by Financial industry Regulatory Authority (FINRA) according to an Order Accepting Offer of Settlement issued by FINRA Office of Hearing Officers who found that Tripoint and its CEO Mark Elenowitz made unsuitable investment recommendations to customers in regards […]

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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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Investors Claim LPL Financial Made Unsuitable Energy Securities Recommendations

September 30, 2020  |   Posted by :   |   Breach of Fiduciary Duty, Business Development Companies, Private Placement Fraud, Securities Arbitration Claims   |   Comments Off on Investors Claim LPL Financial Made Unsuitable Energy Securities Recommendations

William Perry Randall (also known as W. Perry Randall) of Rockford Illinois a stockbroker formerly registered with LPL Financial LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $40,000.00 in damages based upon accusations that the customer had been advised to invest in energy sector investments which […]

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Investors Bring Claim Against Windsor Street Capital Over Khan Scheme

September 14, 2020  |   Posted by :   |   Breach of Fiduciary Duty, Private Placement Fraud, Selling Away and Outside Activities   |   Comments Off on Investors Bring Claim Against Windsor Street Capital Over Khan Scheme

Imtiaz A. Khan (also known as Raana Khan) of New York New York a stockbroker formerly registered with Windsor Street Capital LP is the subject of a customer initiated investment related arbitration claim which was settled for $28,400.00 in damages supported by accusations including the breach of a contract between the customer and Windsor Street […]

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Investors Sue Sagepoint For Bad Private Placements

August 27, 2020  |   Posted by :   |   Non-traded REITs, Private Placement Fraud, Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on Investors Sue Sagepoint For Bad Private Placements

Christopher R. Bice (also known as Cubby Rice) a stockbroker currently registered with Sagepoint Financial is the subject of a customer initiated investment related arbitration claim in which the customer requested $350,000.00 in damages based upon allegations that the customer had been placed into unsuitable private placements by Bice during the time that he was […]

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FINRA Sanctions Tripoint CEO For Unsuitable Private Placements

August 27, 2020  |   Posted by :   |   Alternative Investments, Private Placement Fraud   |   Comments Off on FINRA Sanctions Tripoint CEO For Unsuitable Private Placements

Mark Harris Elenowitz of New York New York, the Chief Executive Officer of Tripoint Global Equities, has been fined $15,000.00 and suspended for one month from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity according to a FINRA Office of Hearing Officer’s Order Accepting Offer of Settlement containing findings that […]

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Investors Sue Cetera For Unsuitable Private Placement Sales

August 27, 2020  |   Posted by :   |   Business Development Companies, Non-traded REITs, Private Placement Fraud, Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on Investors Sue Cetera For Unsuitable Private Placement Sales

Susan Lavon Welo of Mayville North Dakota a stockbroker formerly employed by Cetera Advisor Networks 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 unsuitable private placements being sold to the customer while Welo was employed by Securities America Inc. and […]

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Investors Sue Royal Alliance For Breach Of Fiduciary Duty

July 29, 2020  |   Posted by :   |   Breach of Fiduciary Duty, Private Placement Fraud, Securities Arbitration Claims   |   Comments Off on Investors Sue Royal Alliance For Breach Of Fiduciary Duty

Matthew William Crafa of Garden City New York a stockbroker currently associated with Royal Alliance Associates Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer requested damages estimated to exceed $5,000.00 supported by allegations that a fiduciary duty that was owed to the customer had been breached and […]

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Buckman Buckman Reid Sued By Investors For Negligence

June 24, 2020  |   Posted by :   |   Private Placement Fraud, Securities Arbitration Claims, Stockbroker Negligence   |   Comments Off on Buckman Buckman Reid Sued By Investors For Negligence

William Louis Baumner IV (also known as Bill Baumner) of Boca Raton Florida a stockbroker formerly employed by Buckman Buckman Reid Inc. has been identified in a customer initiated investment related arbitration claim where the customer sought $67,000.00 in damages founded on accusations that the customer was provided with unsuitable investment advice pertaining to a […]

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Investors Accuse Joseph Gunnar Of Misrepresentation

June 24, 2020  |   Posted by :   |   Boilerroom Sales, Private Placement Fraud   |   Comments Off on Investors Accuse Joseph Gunnar Of Misrepresentation

Matthew Gates of New York New York a stockbroker formerly registered with Joseph Gunnar Co. LLC is the subject of a customer initiated investment related complaint on August 28, 2019 where the customer sought $100,000.00 in damages based upon accusations that the customer had been misled by Gates concerning a fund purchased through a private […]

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Investors Sue Principal Securities For $28 Million Private Placement Fraud

June 08, 2020  |   Posted by :   |   Private Placement Fraud, Securities Arbitration Claims, Securities Fraud   |   Comments Off on Investors Sue Principal Securities For $28 Million Private Placement Fraud

John Michael Krohn (also known as John Micheal Krohn) of West Des Moines Iowa a stockbroker formerly registered with Principal Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $10,000,000.00 in damages based upon accusations of Krohn having recommended or sold investments to the customer outside of […]

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Investors Accuse J.P. Morgan Of Private Placement Fraud

June 08, 2020  |   Posted by :   |   Private Placement Fraud, Securities Arbitration Claims, Securities Fraud   |   Comments Off on Investors Accuse J.P. Morgan Of Private Placement Fraud

Trevor Bradner Rahn of Los Angeles California a stockbroker formerly employed by J.P. Morgan Securities LLC has been identified in a customer initiated investment related written complaint on April 1, 2020 where the customer sought $125,000.00 in damages founded on accusations that a private securities transaction concerning a private placement was facilitated by Rahn outside […]

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National Securities Corp Sued For Private Placement Fraud

June 03, 2020  |   Posted by :   |   Direct Participation Programs, Private Placement Fraud, Securities Arbitration Claims, Securities Fraud   |   Comments Off on National Securities Corp Sued For Private Placement Fraud

Shane Rene Falcon of Miami Florida a stockbroker currently registered with National Securities Corp is the subject of a customer initiated investment related arbitration claim in which the customer requested $300,000.00 in damages based upon allegations that the customer had been placed into a private placement which was not suitable for the customer when Falcon […]

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BCG Sued By Investors For Unsuitable Direct Investments

June 03, 2020  |   Posted by :   |   Direct Participation Programs, Misappropriation of Funds, Private Placement Fraud, Promissory Notes, Securities Arbitration Claims, Stockbroker Theft   |   Comments Off on BCG Sued By Investors For Unsuitable Direct 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 arbitration claim where the customer sought $50,000.00 in damages based upon accusations that (1) due diligence was not properly performed prior to Cohen having recommended or sold direct investments to […]

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Axiom Sued By Investors For Fraudulent Alternative Investments

June 03, 2020  |   Posted by :   |   Alternative Investments, Private Placement Fraud, Securities Arbitration Claims, Securities Fraud, Unsuitable Investment Recommendations   |   Comments Off on Axiom Sued By Investors For Fraudulent Alternative Investments

Michael Packman of Westbury New York a stockbroker formerly employed by Axiom Capital Management Inc. has been identified in a customer initiated investment related arbitration claim where the customer sought $99,999.00 in damages founded on accusations that the customer had been sold unsuitable alternative investments from Packman during the period in which the stockbroker was […]

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NTB Financial Accused Of Promissory Note Scheme

May 12, 2020  |   Posted by :   |   Private Placement Fraud, Promissory Notes, Securities Arbitration Claims, Selling Away and Outside Activities   |   Comments Off on NTB Financial Accused Of Promissory Note Scheme

George Louis McCaffrey III of Englewood Colorado a stockbroker formerly associated with NTB Financial Corporation has been referenced in a customer initiated investment related complaint on May 14, 2019 in which the customer requested $290,000.00 in damages supported by allegations of the customer being inappropriately advised by McCaffrey to use individual retirement account funds to […]

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FINRA Sanctions NMS Stockbroker For Selling Away

May 12, 2020  |   Posted by :   |   Private Placement Fraud, Selling Away and Outside Activities   |   Comments Off on FINRA Sanctions NMS Stockbroker For Selling Away

Jeffrey Hall Heely of Beverly Hills California a stockbroker formerly registered with NMS Capital Advisors LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he engaged in undisclosed outside business activities. Letter of Acceptance Waiver and Consent No. 2019063224501 (Apr. […]

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Investors File Claim Against David Lerner Of David Lerner

April 23, 2020  |   Posted by :   |   Breach of Fiduciary Duty, Failure To Supervise, Private Placement Fraud, Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on Investors File Claim Against David Lerner Of David Lerner

Daniel Todd Lerner of New York New York a stockbroker registered with David Lerner Associates Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought unspecified damages based upon accusations that (1) David Lerner Associates failed to supervise Daniel Lerner (2) a fiduciary duty that was owed to the […]

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Investors File Claim Against Money Concepts For Breach Of Fiduciary Duty

April 18, 2020  |   Posted by :   |   Breach of Fiduciary Duty, Investment and Regulatory News, Private Placement Fraud, Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on Investors File Claim Against Money Concepts For Breach Of Fiduciary Duty

Darren Wayne Oglesby of Oakdale Minnesota a stockbroker currently associated with Money Concepts Capital Corp has been referenced in a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages supported by allegations that (1) a fiduciary duty that was owed to the customer had been breached by Oglesby (2) a […]

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Investors Sue Centaurus Financial For Fraud

April 08, 2020  |   Posted by :   |   Direct Participation Programs, Private Placement Fraud, Securities Arbitration Claims, Securities Fraud, Unsuitable Investment Recommendations   |   Comments Off on Investors Sue Centaurus Financial For Fraud

Bryon Edwin Martinsen of Kings Park New York a stockbroker associated with Centaurus Financial Inc. has been referenced in a customer initiated investment related arbitration claim which was settled for $25,000.00 in damages supported by allegations that the stockbroker’s investment recommendations failed to be suitable for the Centaurus Financial customer. Financial Industry Regulatory Authority (FINRA) […]

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Joseph Gunnar Sued For Private Placement Fraud

April 08, 2020  |   Posted by :   |   Alternative Investments, Failure To Supervise, Private Placement Fraud, Securities Arbitration Claims, Securities Fraud, Unsuitable Investment Recommendations   |   Comments Off on Joseph Gunnar Sued For Private Placement Fraud

Anthony Sica of New York New York a stockbroker registered with Joseph Gunnar Co. LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $750,000.00 in damages based upon allegations that private placements were sold by Sica without reasonable supervision from Joseph Gunnar and that those investments failed […]

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Transamerica Sued By Investors Over Limited Partnership Sales

Bruce Albert Slater of Northville Michigan a stockbroker associated with Transamerica Financial Advisors Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer requested $500,000.00 in damages supported by allegations that the customer had been advised to allocate an excessive portion of funds in risky limited partnerships which failed […]

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Cetera Stockbroker Barred By FINRA In Selling Away Investigation

James Gregory McKinney (also known as Greg McKinney) of Tulsa Oklahoma a stockbroker formerly registered with Cetera Advisors 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 the stockbroker neglected to testify or produce documentation for FINRA personnel while […]

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Alexander Capital Stockbroker Sanctioned For Fradulent Sale Of Promissory Notes

Jody Ethan Thompson of New York New York a stockbroker formerly registered with Alexander Capital L.P. has been suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that (1) Thompson provided unsuitable investment recommendations to customers concerning promissory notes and Regulation D offerings and […]

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