Private Placement Fraud

Archive | Private Placement Fraud

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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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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