On March 25, 2024, New Jersey Bureau of Securities issued a cease and desist order against Carlos Antonio Garceran, of New York, New York, a stockbroker formerly associated with the defunct Whale Securities Company LP and Financial Group Corporation. Specifically, Garceran was ordered to pay $150,000.00 in civil penalties for allegedly misusing a customer’s funds…
Philip Andrew Gibson, of Boca Raton, Florida, a stockbroker registered with Newbridge Securities Corporation, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $65,000.00 in damages based upon allegations that Gibson defrauded the customer, violated securities laws, breached his fiduciary duties, was negligent,…
William Henry Weisbrod, of New Jersey, a stockbroker formerly registered with Purshe Kaplan Sterling Investments, Inc., following a bar by Financial Industry Regulatory Authority (FINRA) (November 15, 2023) has had his securities registration revoked by the New Jersey Bureau of Securities because Weisbrod was barred by Financial Industry Regulatory Authority (FINRA) (November 15, 2023). Weisbrod has…
Lina Maria Garcia, of Miami Florida, a stockbroker formerly registered with Insigneo Securities LLC is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested compensatory damages based upon allegations that Garcia overconcentrated the investor’s accounts in speculative securities and made unsuitable investment recommendations….
Anthony Joseph Cantone (also known as A.J. Cantone), of Eatontown, New Jersey, the former Chief Executive Officer of Cantone Research Inc., has been barred by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in any capacity because Cantone refused to provide testimony as requested by the regulator in an investigation into his…
Louis Peter Goff, of Salt Lake City, Utah, 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 because he refused to cooperate in the regulator’s investigation into allegations of potential fraud. Letter of Acceptance, Waiver, and Consent No….
Keith Craig Baron of Jericho, New York, a stockbroker formerly registered with Equity Services Inc., is the subject of an enforcement action initiated by the Financial Industry Regulatory Authority (FINRA) in which the regulator is seeking sanctions against Baron based upon allegations that Baron engaged in fraud and made misrepresentations of material fact in connection…
Jason Kimber, of Logan, Utah, a stockbroker associated with J.W. Cole Financial Inc., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $15,000,000.00 in damages. The allegations center around Kimber’s involvement in alleged fraudulent activities that were conducted away from J.W. Cole…
Vincent Pucciarelli Jr. (also known as Vincent Puccarelli), of Woodbridge, New Jersey, a stockbroker registered with Investment Network Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Pucciarelli failed to testify during the time that FINRA investigated the stockbroker for possible violations of FINRA rules. Letter…
Conrad Aaron Coggeshall of Scottsdale, Arizona, a stockbroker registered with Packerland Brokerage Services Inc., was the subject of an enforcement action initiated by SEC in which the regulator barred Coggeshall based upon allegations that Coggeshall committed fraud. In the Matter of Conrad A. Coggeshall, Administrative Proceeding No. 3-20142 (May 10, 2023). Coggeshall was accused of…
Sean Michael Kane, of York, Pennsylvania, a stockbroker registered with Waddell Reed, is the subject of an enforcement action initiated by SEC in which the regulator is seeking sanctions against Kane based upon allegations that Kane breached fiduciary duties and committed fraud. SEC v. Sean Michael Kane, Complaint No. 1:23-cv-00371 (March 1, 2023). According to…
Brandon Leon of New York, New York, a stockbroker registered with National Securities Corporation, was the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $336,700.00 in damages based upon allegations that Leon made unsuitable recommendations of private placements when Leon was associated with National Securities Corporation. Financial…
Surage Kamal Roshan Perera, of Melville, New York, a stockbroker registered with Aegis Capital Corp. is the subject of an enforcement action initiated by the United States Securities & Exchange Commission in which the regulator is seeking sanctions against Perera based upon allegations that Perera committed fraud and misappropriated funds. SEC v. Surage Kamal Roshan…
Joseph Michael Todd of Panama City, Florida, formerly associated with Centaurus Financial, Inc., partially settled charges that through Todd Financial Services, defrauded at least twenty of his brokerage customers of at least $3 million, most of whom were senior citizens, retirees, or individuals with disabilities. Securities and Exchange Commission v. Joseph Michael Todd, et al.,…
Kevin Cory of New York, New York, a stockbroker registered with RF Lafferty Co. Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Cory made misrepresentations and omissions of material fact. Letter of Acceptance, Waiver, and Consent No. 2022073802901 (May 26, 2023). According to the AWC,…
Thomas Diamante of Babylon Village, New York, a stockbroker registered with SW Financial, has been fined $50,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Diamante deceived investors in connection with the sale of private placement offerings of pre-IPO funds. Letter of Acceptance, Waiver,…
Marcus Kovac Moon, of Miramar, Florida, a stockbroker registered with NYLife Securities LLC, has been charged by Securities and Exchange Commission (SEC) in a Complaint alleging that Moon made improper recommendations and engaged in securities business without the proper registration. SEC v. Marcus K. Moon, Complaint No. 0:23-cv-60715 (April 17, 2023). The Complaint filed by…
Daniel Joseph Mackle Sr., of Hackensack, New Jersey, the owner of Silver Edge Financial LLC, has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment advisor representative because Mackle and his company acted as unregistered brokers when marketing and selling Silver Edge Fund series interests to investors. In the Matter…
Robert Earl Turner Jr., of Waco, Texas, a stockbroker registered with UBS Financial Services Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Turner engaged in private securities transactions. Letter of Acceptance, Waiver, and Consent No. 2021073037101 (January 27, 2023). According to the AWC, from 1997…
The Guiliano Law Group is pleased to announce that the United States District Court for the Northern District of Georgia entered a judgment and confirmed a $1.9 million arbitration award rendered against the president and owner of a Connecticut based securities broker-dealer and one of its former agents. Malone et al v. Stoyeck et al.,…
John Wade Loofbourrow of New York, New York, a stockbroker registered with Demopolis Capital Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $175,000.00 in damages based upon allegations that the customer was defrauded in connection with the sale of Concord Group Holdings private placements. Financial Industry…
Craig Anthony Zabala of Harlem, New York, a stockbroker registered with John W. Loofbourrow Associates Inc. (and President and CEO of Concorde Group Holdings Inc.), has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or an investment advisor representative because Zabala committed fraud. In the Matter of Craig A. Zabala, Order…
Alan Zelig Appelbaum of Boca Raton, Florida, a stockbroker formerly registered with Aegis Capital Corp., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $280,000.00 in damages based upon allegations that Appelbaum made unsuitable investment recommendations and engaged in other misconduct in connection…
Michael Allan Bressman of Chatham, New Jersey, a stockbroker registered with FCG Advisors LLC has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative because Bressman committed fraud. SEC Civil Action No.1:18-cv-11925-WGY 1:18-cv-11925-WGY (Sept. 2, 2021). Bressman engaged in a cherry-picking scheme between January 2012 to February 2018…
Bradley Allen Goodbred of Roselle, Illinois, a stockbroker formerly registered with LPL Financial LLC, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $1,225,000.00 in damages based upon allegations that Goodbred caused her to execute a document appointing representative as her power of…
John Michael Lopinto of New York, New York, a stockbroker registered with Worden Capital Management LLC has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity for nine months based upon allegations that Lopinto engaged in the excessive and unauthorized trading of his customer accounts. FINRA…
Benjamin Benoit Lowder Jr. (also known as Ben Lowder), of Charlotte, North Carolina, a stockbroker registered with MSI Financial Services Inc., is the subject of a customer initiated investment related civil action that was settled for $200,000.00 in damages based upon allegations that Lowder engaged in selling away and fraud in connection with the sale…
Michael Jeremiah Mooney of Mount Airy, North Carolina, a former investment adviser representative of Southport Capital and stockbroker of Oppenheimer Co. Inc., is the subject of an enforcement action initiated by Securities and Exchange Commission (SEC) in which the regulator is seeking sanctions against Mooney based upon allegations that Mooney violated federal securities laws by…
Michael Christopher Venturino of Garden City, New York, a stockbroker registered with Aegis Capital Corp., is referenced in an enforcement action initiated by Financial Industry Regulatory Authority (FINRA) where the regulator is seeking sanctions against Venturino based upon allegations that Venturino committed fraud and made excessive and unsuitable transactions in Aegis Capital Corp customer accounts….
John Dennis Lowry of New York, New York, the owner of Spartan Capital Securities LLC, was identified in a customer initiated investment related FINRA securities arbitration claim which was settled for $75,000.00 in damages because Lowry allegedly breached a fiduciary duty and had recommended unsuitable investments while he was registered with Spartan Capital Securities. Financial…
Ronald Terrence Molo of Joliet, Illinois, a stockbroker formerly registered with Edward Jones, has been charged by Securities and Exchange Commission (SEC) with stealing approximately $800,000.00 from customers, at least one of which included an Edward Jones customer. SEC v. Ronald T. Molo, Civil Action No. 21-cv-06286 (November 23, 2021). According to SEC’s Complaint, between…
James Kenneth Couture of Worcester, Massachusetts, a stockbroker formerly registered with LPL Financial LLC, is referenced in a customer initiated investment related written complaint that was settled for $270,179.42 in damages on May 19, 2022, supported by accusations of misappropriation of the customer’s funds by Couture while he was registered with LPL Financial. On September…
National Securities Corporation, a securities broker-dealer headquartered in Boca Raton, Florida, has been censured and fined $3,600,000.00 by Financial Industry Regulatory Authority (FINRA) based in part on National Securities Corporation’s negligent omissions relating to GPB Capital Holdings and its failure to supervise the recommendation of non-traded real estate investment trusts (non-traded REITs) to customers. Letter…
Robert James D’Andria (also known as Bobby Dandria and Bob Dandria) of Spring Lakes, New Jersey, a stockbroker currently registered with International Assets Advisory LLC, is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $45,000.00 in damages founded on accusations of negligent supervision, fraud, unauthorized trading, breach of…
Shawn Edward Good of Wilmington, North Carolina, a stockbroker formerly registered with Morgan Stanley, has been charged by Securities and Exchange Commission (SEC) with operating a Ponzi scheme causing $2,000,000.00 in losses to investors. SEC v. Shawn Good, Case No. 7:22-cv-00060 (April 18, 2022). According to the Complaint, between December 2012 and February of 2022,…
George Louis McCaffrey of Englewood, Colorado, a stockbroker formerly registered with NTB Financial Corporation (formerly known as Neidiger Tucker Bruner Inc.), is referenced in a customer initiated investment related civil action on September 16, 2021, in which the customer sought $1,702,000.00 in damages based upon accusations of false representations by McCaffrey concerning a promissory note…
Lester William Burroughs (also known as Chad Burroughs) of Torrington, Connecticut, a stockbroker formerly registered with Lincoln Investment Planning LLC (Lincoln Investment), is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought compensatory damages supported by accusations of misrepresentations relating to fixed and variable annuities when Burroughs was employed…
Lawrence John Fawcett Jr. (also known as Larry Fawcett), of Los Angeles, California, a stockbroker formerly registered with WestPark Capital Inc., is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer was awarded $545,727.12 in compensatory damages based upon WestPark Capital being found liable on the customer’s causes of action,…
Michael Francis Shillin, of Altoona, Wisconsin, a stockbroker formerly registered with Alliance Global Partners (AGP), has been charged by Securities and Exchange Commission (SEC) with defrauding investors about stock and insurance transactions when he was registered with Alliance Global Partners, Raymond James Financial Services Inc., Raymond James Financial Services Advisors Inc., Shillin Wealth Management LLC,…
Jaime Michael Westenbarger of Grand Rapids Michigan a stockbroker formerly registered with Securities America Inc. and First Allied Securities Inc. has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative supported by findings of Westenbarger misusing investor funds. In the Matter of Jaime M. Westenbarger Administrative Proceeding File…
Todd Anthony Esh of Shawnee Kansas a stockbroker formerly registered with LPL Financial LLC has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or an investment adviser representative founded on accusations of Esh making omissions and misrepresentations to investors. In the Matter of Todd A. Esh Order Instituting Administrative Proceedings Case…
Howard Joseph Allen III of New York New York a former stockbroker and executive of Portfolio Advisors Alliance LLC is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $37,761.00 in damages based on accusations of negligence, breach of fiduciary duty and breach of contract as it pertained to…
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…
Douglas Anthony Leone of Melville New York a stockbroker formerly registered with Salomon Whitney Financial and Newport Coast Securities has been fined $185,000.00 and barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a Securities and Exchange Commission Opinion in which SEC affirmed a FINRA National Adjudicatory Council’s…
Robert Russel Tweed (also known as Rusty Tweed) of San Marino California the owner of Tweed Financial Services and former stockbroker of Concorde Investment Services LLC and Cabot Lodge Securities LLC has been barred as stockbroker and investment adviser representative by Securities Exchange Commission (SEC) according to an Order founded on allegations of Tweed misleading…
Dominic Anthony Tropiano of Cleveland Ohio a stockbroker formerly registered with America Northcoast Securities Inc. has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative based on accusations that Tropiano effected unauthorized and unsuitable transactions in customer accounts causing customers to experience more than $1,000,000.00 in losses. SEC…
Craig Alan Sutherland of Columbus Ohio a stockbroker formerly registered with Money Concepts Capital Corp was fined by Ohio Department of Insurance supported by findings that Sutherland failed to report that another regulator took disciplinary action against him. Case No. 30849 (Nov. 10, 2020). Sutherland has been sanctioned twice before. On July 17, 2017, he…
Michael Allan Bressman of Chatham New Jersey a stockbroker formerly registered with FCG Advisors LLC has been barred as stockbroker by New Jersey Bureau of Securities on March 18, 2021 founded on Bressman engaging in fraudulent practices and theft while he was associated with FCG Advisors LLC. New Jersey’s sanctions come after Bressman was convicted…
Jonathan Douglas Freeze (also known as Jon Freeze) a former stockbroker of Fortune Financial Services Inc. and representative of Alternative Energy Holdings Inc. has been charged by Securities and Exchange Commission (SEC) with defrauding twenty-five customers through fraudulent promissory notes transactions. Securities and Exchange Commission v. Jonathan D. Freeze et al. Case No. 2:21-cv-720 (June…
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…
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…
Steven Pagartanis of Seatauket New York a stockbroker formerly registered with Cadaret Grant Co. Inc. has been barred by United States Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative or otherwise associating with securities broker dealers or investment advisories as Pagartanis pleaded guilty to conspiracy to commit mail and wire…
Masood Husain Azad (also known as Mike Azad) of League City Texas a stockbroker formerly registered with First Allied Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages based upon allegations of negligence and breach of contract relating to investments in Direct…
Jeremy Taylor Johnson of Murrieta California a stockbroker formerly registered with Torch Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity given findings of Johnson refusing to cooperate with FINRA’s investigators when he was under investigation for possible sales practice violations including misrepresentation and unsuitability. Letter of…
Jeffrey William Fitz of Short Hills New Jersey a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related written complaint on June 5, 2020 where the customer sought compensatory damages founded on accusations that misrepresentations had been made to the customer by Fitz concerning investment…
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….
Gerald John Cocuzzo (also known as Jerry Cocuzzo) of Boca Raton Florida a stockbroker formerly registered with Newbridge Securities Corporation is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $208,287.00 in damages based upon allegations of unsuitable stock trading by Cocuzzo while he was registered with Newbridge Securities…
Daniel M. Soliman of New York New York a stockbroker formerly registered with Traderfield Securities Inc. has been referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $500,000.00 in damages supported by accusations that misrepresentations had been made to the Traderfield Securities customer and that they had been defrauded…
Joseph Francis Valdini of Melville New York a stockbroker formerly registered with Worden Capital Management LLC is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $1,000,000.00 in damages supported by accusations of fraud and negligent supervision pertaining to Valdini’s over-the-counter equities transactions at Worden Capital Management LLC….
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…
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,…
Richard Guy Duncan (also known as Rick Duncan) of East Longmeadow Massachusetts an investment adviser representative of Ausdal Financial Partners Inc. is the subject of a customer initiated investment related written complaint on July 20, 2020 where the customer requested $405,045.00 in damages based upon allegations that the customer had been placed into unsuitable securities…
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…
Samuel Frederik Lek of New York New York the Chief Executive Officer of Lek Securities Corp is the subject of a customer initiated investment related arbitration claim where the customer requested $2,804,880.05 in damages supported by allegations that the customer’s account lacked supervision and that the customer’s funds had been misappropriated. Financial Industry Regulatory Authority…
Daniel Benjamin Vazquez Sr. (also known as Dan Vasquez Senior) of Irvine California a stockbroker formerly registered with Cetera Advisors LLC is the subject of Securities and Exchange Commission (SEC) administrative proceedings in which the regulator will determine whether to bar Vazquez as a stockbroker or investment adviser representative among other capacities founded on allegations…
Richard Lyndon Brown of Farmingdale New York a stockbroker formerly registered with Arive Capital Markets and Chelsea Financial Services has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Brown neglected to cooperate with a FINRA Arbitration Award where he was ordered to pay a…
Kerri Lynn Wasserman of New York New York a stockbroker and former President of Portfolio Advisors Alliance has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative or otherwise associating with any securities broker dealer or investment advisory according to an Order based on findings of Wasserman defrauding…
Thomas Joseph Buck of Indianapolis Indiana a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith is referenced in a customer initiated investment related arbitration claim where the customer requested unspecified damages supported by accusations that investment recommendations made to the customer were not suitable and that the customer had been charged excessive commissions relating…
First Clearing LLC (now known as (Wells Fargo Clearing Services LLC) has been censured and fined $300,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that First Clearing provided 6,800 customers with wrong valuations on direct participation program interests and non-traded real estate investment trusts and had failed to supervise its business with a…
A FINRA arbitration panel from New York issued an award dated July 10, 2017, in favor of customer Timothy McLaughlin against Northeast Securities, Inc., and three of its employees, Steven Joseph Perrone, Diane Hawkins and Jonathan Michael Zucker. Northeast Securities and the three employees were all named as respondents in the claim. FINRA Arbitration No….
Lawrence John Fawcett Jr. (also known as Larry Fawcett Jr.) has been named in a customer initiated investment related arbitration claim where the customer was awarded $35,663.00 in compensatory and punitive damages founded on a FINRA Arbitrator finding Fawcett liable on the customer’s causes of action including breach of fiduciary duty and fraud as it…
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…
Jeffrey Clay Templeman of Norfolk Virginia a stockbroker currently registered with Wells Fargo Advisors has been referenced in a customer initiated investment related written complaint on March 15, 2019 where the customer requested unspecified damages founded on allegations that the customer had been steered by Templeman towards investing in mutual funds without being provided clarity…
David Todd Phillips (also known as Todd Phillips) of Gilbert Arizona a stockbroker formerly registered with Moloney Securities Co. and ProEquities Inc. has been fined $5,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that he engaged in private securities transactions involving…
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…
Ronald Reed McCook of Scottsdale Arizona a stockbroker currently registered with First Allied Securities Inc. and an investment adviser representative of Cetera investment Advisers LLC has been referenced in a customer initiated investment related arbitration claim in which the customer requested unspecified damages supported by allegations that the customer had been placed in real estate…
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…
Jay Allan Ambroson of Garden City New York a stockbroker formerly registered with Gould Ambroson Associates Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $525,000.00 in damages founded on accusations of conversion and the breach of a fiduciary duty by Ambroson which caused the customer’s losses. Financial Industry…
Vincent James Mazza of Jersey City New Jersey a stockbroker formerly registered with National Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $400,000.00 in damages supported by allegations that unauthorized over-the-counter equities trades were effected in the customer’s account during the time that Mazza was associated…
Cynthia Diane Cowden (also known as Cynthia Case) of Lake Isabella California a stockbroker formerly registered with NPB Financial Group LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Cowden made unsuitable investment recommendations to investors and failed to be forthcoming with FINRA…
Eric Steven Smith of Troy Michigan the founder and Chief Executive Officer of Consulting Services Support Corporation (the parent company of CSSC Brokerage Services Inc.) 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 that misrepresentations had been…
Jeffrey Allan Broten of Morristown New Jersey a stockbroker formerly registered with First Standard Financial Co. LLC and National Securities Corporation is referenced in a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages based upon allegations that over-the-counter equities transactions effected in the customer’s account by the stockbroker failed…
Sean Joseph Kelly of Marietta Georgia a stockbroker formerly registered with Center Street Securities is the subject of a customer initiated investment related arbitration claim in which the customer requested $225,000.00 in damages based upon accusations of unsuitable alternative investments being sold to the customer during the period that Kelly was associated with Center Street…
Harry Seth Datys of New York New York a stockbroker formerly employed by WestPark Capital Inc. has been fined $20,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he advised customers of WestPark to purchase promissory notes that were not suitable for them and…
Willard Louis Pugh of Boca Raton Florida a stockbroker formerly employed by Dawson James Securities is the subject of a customer initiated investment related arbitration claim where the customer requested $155,000.00 in damages based upon accusations that the customer was provided with bad investment advice from Pugh as it concerned the customer’s investments in United…
Murray Todd Petersen (also known as M. Todd Petersen) of Roseville California a stockbroker formerly employed by SCF Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $960,000.00 in damages founded upon accusations of the breach of fiduciary duty and fraud as it pertained to an outside…
Steven Ellsworth Larson of Saint Louis Missouri a stockbroker formerly employed by Oakbridge Financial Services has been issued a Decision by Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council in which he has been barred from associating with any FINRA member in any capacity supported by findings that he defrauded investors. Department of Enforcement v….
Giustino DeStefano (also known as Justin Antonio DeStefano) of Williamsville New York a stockbroker formerly employed by Merrill Lynch and Securities America is the subject of a customer initiated investment related arbitration claim which was settled for $485,000.00 in damages supported by allegations of elder abuse and the violation of California Securities Act. Financial Industry…
Kevin Joseph Kuhlow (also known as Kevin J. Cullen) of Los Gatos California a stockbroker formerly employed by LPL Financial LLC is referenced in a customer initiated investment related written complaint which was settled for $60,000.00 on January 10, 2019 founded on accusations that the customer had been invested by Kuhlow in worthless unregistered securities….
Stuart L. Pearl of Indianapolis Indiana a stockbroker formerly registered with David A. Noyes Company is the subject of a customer initiated investment related written complaint on May 18, 2020 in which the customer requested $2,088,124.00 in damages based upon allegations of a margin trading account being created by the stockbroker without the customer’s knowledge…
Gregory Roy Tucker of Des Moines Iowa a stockbroker currently employed by DA Davison Co. is referenced in a customer initiated investment related arbitration claim where the customer sought $500,000.00 in damages supported by accusations that the customer had been provided unsuitable investment advice from Tucker during the period in which he was associated with…
Thomas Von Reckers (also known as Tom VonReckers) of Lakewood Colorado a stockbroker formerly employed by Wells Fargo Advisors Financial Network is referenced in a customer initiated investment related arbitration claim which was settled for $90,000.00 in damages founded on accusations that a fiduciary duty that was owed to the customer had been breached and…
Geoffrey Garratt of New York New York a stockbroker formerly employed by National Securities Corp is the subject of a customer initiated investment related arbitration claim where the customer was awarded $58,573.10 in damages based on Garratt being found liable on the customer’s causes of action including fraud and the breach of a fiduciary duty…
John Alexander Tarpinian of New York New York a stockbroker formerly employed by Paulson Investment Company LLC and Newport Coast Securities Inc. has been identified in a customer initiated investment related arbitration claim which was resolved for $23,000.00 in damages founded on accusations that between February of 2013 and March of 2019, a fiduciary duty…
Shawn Bruce Davis of Auburn California a stockbroker formerly associated with Independent Financial Group LLC and Berthel Fisher Company Financial Services has been referenced in a customer initiated investment related arbitration claim in which the customer requested $206,000.00 in damages supported by allegations that the customer had been unsuitably concentrated in illiquid investments including real…
Kevin Richard Wilson of New York New York a stockbroker formerly associated with Laidlaw Company (UK) Ltd. has been referenced in a customer initiated investment related arbitration claim in which the customer requested $1,600,000.00 in damages supported by allegations that the customer had been placed into unsuitable private placements from 2011 to 2017 during the…
Alvery Anthony Bartlett Jr. of Saint Louis Missouri a stockbroker formerly employed by Berthel Fisher Company Financial Services has been identified in a customer initiated investment related arbitration claim where the customer sought more than $5,000.00 in estimated damages founded on accusations that customers were placed into unsuitable alternative investments and that Berthel Fisher’s negligence…
Scott Robert Steinhorst of Hartland Wisconsin a stockbroker formerly associated with Wintrust Investments LLC has been referenced in a customer initiated investment related complaint in which the customer requested $15,187.72 in damages supported by allegations that the customer had been placed into inappropriate structured certificates of deposit given the long maturities on those products. This…
Donald Joseph Fowler of Rockville Center New York a stockbroker formerly registered with Worden Capital Management is referenced in an Order Instituting Administrative Proceedings by Securities and Exchange Commission (SEC) in which the regulator is determining whether to permanently bar Fowler from being a stockbroker or investment advisor representative given findings of Fowler violating federal…
Nordo Mauro Nissi III of Boston Massachusetts a stockbroker formerly registered with Morgan Stanley is referenced in a customer initiated investment related arbitration claim in which the customer sought $500,000.00 in damages supported by allegations that fraudulent misrepresentations and omissions had been made relating to the customer’s investments and that the customer was defrauded during…
Eric Juan Stubbe Arsuaga of Dorchester Massachusetts a stockbroker formerly employed by Santander Securities LLC has been identified in a customer initiated investment related arbitration claim which was resolved for $82,500.00 in damages based upon allegations that the customer had been placed in common and preferred stock and mutual funds among other investments that failed…
Charles Thomas Stevens of Saint Augustine Florida a stockbroker formerly registered with DH Hill Securities LLLP is referenced in a customer initiated investment related arbitration claim which was resolved for $35,000.00 in damages supported by allegations that negligence and the breach of an investment agreement resulted in the customer’s losses on alternative investments sold by…
Kevin Donald Wanner of Bismarck North Dakota a stockbroker formerly employed by Questar Capital Corporation has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment advisor representative or otherwise associating with a securities broker dealer or investment advisor representative according to an Order pertaining to findings of Wanner defrauding investors….
John William Carroll of Maumee Ohio a stockbroker formerly employed by Berthel Fisher Company Financial Services has been identified in a customer initiated investment related written complaint on May 13, 2020 where the customer sought more than $5,000.00 in damages founded on accusations that the customer had been placed into illiquid alternative investments including oil…
E. Herbert H. Hafen (also known as Elias Herbert Hafen and as Elias Herbert Niggebrugge) of New York New York a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been barred from being a stockbroker or an investment adviser representative according to a Securities and Exchange Commission (SEC) Order based on findings of…
Kurt Anthony Stein of New York New York a stockbroker formerly employed by National Securities Corporation has been identified in a customer initiated investment related arbitration claim where the customer sought $35,000.00 in damages founded on accusations that misrepresentations were made to the customer by Stein concerning direct participation program interests or limited partnership interests…
Mark Fredrick Augusta of Del Mar California a stockbroker formerly associated with Wedbush Securities 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 customer had been defrauded and that misrepresentations and omissions had been made in regard to the customer’s…
Dustin Paul Shafer of Springfield Illinois a stockbroker formerly registered with Money Concepts Capital Corp is the subject of a customer initiated investment related arbitration claim in which the customer requested unspecified damages based upon allegations that securities laws of the State of Illinois were violated in regard to Shafer’s securities transactions and that the…
Mitchell Toby Yanow of Boca Raton Florida a stockbroker formerly associated with Stifel Nicolaus Company Incorporated has been barred from being a stockbroker or investment adviser representative or otherwise associating with any securities broker dealer or investment advisory according to an SEC Order based on Yanow pleading guilty to wire fraud. In the Matter of…
Jefferey William Dyra of Naperville Illinois a stockbroker formerly associated with Bankers Life Securities Inc. has been referenced in a customer initiated investment related written complaint on November 21, 2019 in which the customer requested $47,000.00 in damages supported by allegations that unauthorized transactions were facilitated in the customer’s account. The complaint alleges that the…
Yousuf Saljooki (also known as Joseph Saljooki and as Joe Saljooki) a stockbroker formerly registered with SW Financial (Salomon Whitney Financial) is the subject of a customer initiated investment related arbitration claim in which the customer requested $97,292.27 in compensatory damages and unspecified punitive damages based upon allegations that the customer had been defrauded by…
Sandlapper Securities LLC as well as Trevor Lee Gordon (chief executive officer) and Jack Charles Bixler (vice-present) were handed down a Decision from Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council which affirmed an Extended Hearing Panel’s findings of Sandlapper, Gordon and Bixler’s fraudulent activities and breach of fiduciary duty with respect to saltwater disposal…
Lazaro Armando Fernandez Paredes of Dorchester Massachusetts a stockbroker formerly registered with Santander Securities is the subject of a customer initiated investment related arbitration claim which was resolved for $30,000.00 in damages based upon accusations that the customer had been placed into fraudulent closed end funds and municipal debt investments during the time that Paredes…
Michael Harvey Siva of Morristown New Jersey a stockbroker formerly registered with Morgan Stanley has been barred from being a stockbroker or an investment adviser representative or otherwise associating with any securities broker dealer or investment advisory according to a Securities Exchange Commission (SEC) Order based on Siva pleading guilty to conspiracy to commit securities…
Rodger Sprouse of Lee’s Summit Montana a stockbroker currently associated with Titan Securities has been referenced in a customer initiated investment related written complaint which was settled for $43,000.00 on April 6, 2020 supported by allegations that the customer had been placed into a fraudulient structured cash flow product by Sprouse in 2018 during the…
Andrew Vincent LaBarbera of Dix Hills New York a stockbroker formerly employed by Titus Rockefeller LLC has been identified in a customer initiated investment related arbitration claim where the customer sought $23,793.00 in damages founded on accusations that the customer’s account was churned and that a fiduciary duty that was owed to the customer had…
Thomas Duggan of Melville New York a stockbroker currently employed by Aegis Capital Corp has been identified in a customer initiated investment related arbitration claim where the customer sought $1,079,155.08 in damages founded on accusations of elder abuse relating to the customer’s investments between 2017 and 2019 while Duggan was employed by Aegis Capital Corp….
William Andrew Hightower (also known as Bill Hightower) of Houston Texas a stockbroker formerly employed by Legacy Asset Securities Inc. has been barred from being a stockbroker or an investment adviser representative or otherwise associating with any securities broker dealers or investment advisories according to an SEC Order based on Hightower pleading guilty to fraud….
Ian Ha of Los Angeles California a stockbroker formerly registered with AXA Advisors LLC is the subject of a customer initiated investment related written complaint on April 21, 2020 in which the customer requested unspecified damages based upon allegations that misrepresentations had been made to the customer by Ha in regards to the exchange of…
Bradley Carl Mascho of Frederick Maryland a stockbroker formerly associated with Western International Securities has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative or otherwise associating with any securities broker dealers or investment advisories according to an SEC Order based on findings that Mascho pled guilty to…
Kerry Lee Hoffman of Chicago Illinois a stockbroker formerly associated with LPL Financial LLC 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 the customer had been advised by Hoffman to invest in unregistered securities during the period in which the…
Kevin Patrick McKenna of Wausau Wisconsin a stockbroker formerly associated with Stifel Nicolaus Company has been referenced in a customer initiated investment related arbitration claim in which the customer requested $600,000.00 in damages supported by allegations of unauthorized and fraudulent securities transactions by McKenna pertaining to direct participation program interests or limited partnership interests during…
Keith Frederick France of Indianapolis Indiana a stockbroker formerly registered with BMO Harris Financial Advisors Inc. is the subject of a customer initiated investment related complaint on April 29, 2019 in which the customer requested more than $5,000.00 in damages based upon allegations that the customer had been sold a market linked certificate of deposit…
Fredrick Martin Randhahn (also known as Frederick Martin Randhahn) of Ogden Utah a stockbroker formerly registered with Sigma Financial Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages based upon accusations that the customer was placed into risky and fraudulent Woodbridge Mortgage Investment products during…
Michael Carleton Boothe (also known as Carleton M. Boothe) of Fort Lauderdale Florida a stockbroker formerly registered with International Assets Advisory is the subject of a customer initiated investment related arbitration claim in which the customer requested $200,000.00 in damages based upon allegations of negligence and fraud with regard to the customer’s investments in direct…
Gary Lyle Pevey of Sacramento California a stockbroker formerly associated with Mutual Securities Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer requested $100,001.00 in damages supported by allegations that the customer had been defrauded by making a real estate security purchase in September of 2016 during the…
Dennis Albert Mehringer Jr. of Pasadena California a stockbroker formerly registered with Western International Securities is the subject of a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Decision which affirmed a FINRA Extended Hearing Panel’s barring of Mehringer from associating with any FINRA member in any capacity based upon findings that (1) Mehringer effected…
Joshua William Turney of New York New York a stockbroker formerly registered with Global Arena Capital Corp has been charged by Securities and Exchange Commission (SEC) with effecting unauthorized trading to generate commission revenue and then attempting to conceal those unauthorized transactions. Securities and Exchange Commission v. Joshua W. Turney et al. Civil Action No….
Margareta Theresia Childs (also known as Margareta Theresia Klopf) of Western International Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that she failed to cooperate with FINRA’s request for information. Case No. 2019061958901 (Sept. 20, 2019). According to FINRA Public Disclosure, Childs…
Frank Briseno III of Metairie Louisiana a stockbroker and investment adviser representative currently registered with FSC Securities Corporation is the subject of a customer initiated investment related written complaint on May 6, 2020 in which the customer requested more than $100,000.00 in damages based upon allegations that the customer was provided bad investment advice from…
Christopher Richard Wurtzinger of Chicago Illinois a stockbroker and supervisor formerly registered with Forest Securities has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity based upon consenting to findings that Wurtzinger failed to supervise outside business activities relating to the sale of Woodbridge Group of Companies promissory…
Lawrence Michael LaBine (also known as Larry LaBine) of Scottsdale Arizona a stockbroker formerly registered with Newbridge Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $99,000.00 in damages based upon accusations of the stockbroker’s negligence with regard to alternative investments sold to the Newbridge Securities Corporation…
Chris Kubiak of Brookfield Wisconsin a stockbroker formerly employed by Freedom Investors Corp and Calton Associates Inc. has been identified in a Securities and Exchange Commission (SEC) Order Instituting Administrative Proceedings in which he has been barred from being a stockbroker or investment advisor representative and barred from associating with any securities broker dealer or…
Edward Robert Taliaferro (also known as Robby Taliaferro and as Rob Taliaferro) of Chattanooga Tennessee a stockbroker formerly associated with JJB Hilliard WL Lyons has been referenced in a customer initiated investment related arbitration claim in which the customer requested $60,000.00 in damages supported by allegations that the customer had been defrauded on stock and…
Lester William Burroughs (also known as Chad Burroughs) of Torrington Connecticut a stockbroker formerly employed by Lincoln Investment and an investment advisor representative with Capital Analysts LLC is the subject of a Securities and Exchange Commission (SEC) Order Instituting Administrative Proceedings in which Burroughs has been barred from being a stockbroker or investment advisor representative…
James Edmond Moniz (also known as James E. McGowan-Moniz) of West Palm Beach Florida a stockbroker formerly associated with Essex Securities LLC has been sanctioned by the Massachusetts Securities Division based in part upon findings that he has been subject of customer disputes and that he has been sanctioned by the regulator as well as…
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…
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…
Robert Scott Smith of Newberg Oregon a stockbroker formerly associated with Concorde Investment Services has been referenced in a customer initiated investment related arbitration claim in which the customer requested $360,000.00 in damages supported by allegations that the customer had been defrauded by investing in private placements through Smith during the period in which the…
Kevin Mark Nevin of Edina Minnesota a stockbroker formerly associated with Sandlapper Securities LLC has been referenced in a customer initiated investment related arbitration claim in which the customer requested $400,000.00 in damages supported by allegations that the customer had been placed into direct participation program interests or limited partnership interests that failed to be…
Andrew Raymond Scheirer II (also known as Andy Haas) of Lake Mary Florida a stockbroker formerly registered with First Allied Securities Inc. and Kovack Securities Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $49,000.00 in damages based upon allegations that a fiduciary duty that was owed to…
Hector Ramos of New York New York a stockbroker formerly associated with Bishop Rosen Co. Inc. has been suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that gave bad advice to a disabled customer. Letter of Acceptance Waiver and Consent No. 2018059983001 (June…
Steven Robert Luftschein (also known as Steven Lerner) a stockbroker formerly employed by Aegis Capital Corp has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that (1) Luftschein churned the accounts of Aegis Capital Corp customers and that (2) Luftschein defrauded investors. Department of Enforcement v. Steven R….
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…
Kirk Badii of Los Angeles California a stockbroker formerly associated with UBS Financial Services Inc. has been referenced in a customer initiated investment related complaint on April 17, 2020 in which the customer requested as much as $2,600,000.00 in damages supported by allegations that the customer had been advised by Badii to invest in inappropriate…
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…
Peter David Holler of Bristol Tennessee a stockbroker employed by Securities Service Network LLC is the subject of a customer initiated investment related written complaint on February 27, 2020 in which the customer requested $855,000.00 in damages based upon allegations that the customer had been placed into unregistered Woodbridge securities by Holler during the time…
John Edward Massa of Staten Island New York a stockbroker associated with Cetera Investment Services has been referenced in a customer initiated investment related arbitration claim which was settled for $20,000.00 in damages supported by allegations including (1) negligence (2) breach of fiduciary duty (3) breach of contract and (4) fraud in violation of Securities…
Kevin Lawrence Barbalace of Middletown New Jersey a stockbroker associated with Dawson James Securities is the subject of a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages based upon allegations that investment recommendations were not suitable and that misrepresentations and omissions had been made about direct participation program interests…
David Richard Geake of Northbrook Illinois a stockbroker formerly registered with Madison Avenue Securities LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages based upon allegations that (1) misrepresentations and omissions had been made by Geake regarding alternative investments (2) due diligence was not…
Ricardo William Cabrera (also known as Rick Cabrera) of Henderson Nevada a stockbroker formerly associated with GF Investment Services LLC has been referenced in a customer initiated investment related arbitration claim which was settled for $14,000.00 in damages supported by allegations that Cabrera’s recommendations of alternative investments including business development companies and real estate securities…
Steven Pagartanis (also known as Steve Pagartanis) of Setauket New York a stockbroker registered with Lombard Securities Incorporated has been sentenced by a United States District Judge to 170 months behind bars as a result of the stockbroker pleading guilty to conspiring to commit wire and mail fraud as part of carrying out a securities…
Allan Perry Montalbano of Garden City New York a stockbroker formerly employed by National Securities Corporation and Worden Capital Management LLC has been identified in a customer initiated investment related arbitration claim which was resolved for $160,000.00 in damages founded on accusations of (1) breach of a contract governing the customer’s stock trades at National…
Frank Anthony Dinucci Jr. of New York New York a stockbroker associated with AOC Securities LLC has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative or otherwise associating with any securities broker dealers or investment advisers according to an SEC Order founded on Dinucci pleading guilty to…
Marcus E. Boggs of Chicago Illinois a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated has been barred from being a stockbroker or investment adviser representative or associating with securities broker dealers or investment advisories based upon a Securities and Exchange Commission (SEC) Order based upon allegations of Boggs stealing $1.7 million investor funds….
Sean Aaron Brady of Saint Louis Missouri a stockbroker registered with First Allied Securities Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $75,000.00 in damages based upon accusations of the customer being defrauded on direct participation program interests or limited partnership interests sold by Brady between 2012…
Harry Seth Datys of New York New York a stockbroker associated with WestPark Capital has been referenced in an investigation initiated by Financial Industry Regulatory Authority (FINRA) on December 20, 2019 into allegations that the stockbroker schemed to defraud investors through his offer and sale of Westpark Capital Financial Services LLC securities. FINRA Investigation No….
Gregory Spencer O’Brien of New York New York a stockbroker formerly employed by Aegis Capital Corp has been identified in a customer initiated investment related complaint on April 12, 2019 where the customer sought $153,300.00 in damages founded on accusations that margin was inappropriately utilized to effect securities transactions for the customer’s Aegis Capital Corp…
Dennis James Murphy of Red Bank New Jersey a stockbroker formerly employed by Woodstock Financial Group has been identified in a customer initiated investment related arbitration claim where the customer sought $21,982.00 in damages founded on accusations of the customer being defrauded on over-the-counter equities trades effected by Murphy when he was associated with Woodstock…
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)…
Robert Douglas Armstrong of Boca Raton Florida a stockbroker registered with Dawson James Securities Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $96,000.00 in damages based upon accusations that (1) promissory statements and misrepresentations were made to the customer by Armstrong regarding direct participation programs and limited…
Coleman Joseph Devlin of Baltimore Maryland a stockbroker registered with Stifel Nicolaus Co. Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $11,500,000.00 in damages supported by allegations of the customer being defrauded and incurring losses because of investments including options and over-the-counter equities sold by Devlin during…
Glen Derek Delaney of New York New York a stockbroker formerly registered with Newbridge Securities Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that the stockbroker failed to respond to FINRA’s request for information about his activities. FINRA Case No. 2017054192101 (Feb. 11,…
Vincent Charles Meleco of Albany New York a stockbroker registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related complaint on September 24, 2019 in which the customer requested $123,000.00 in damages based upon allegations that omissions were made to the customer by the stockbroker and that the customer had…
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…
Norman Gary Price of Gig Harbor Washington a stockbroker formerly associated with RP Capital LLC, Genesis Capital LLC and Aequitas Commercial Finance LLC has been fined $75,000.00 and barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative or otherwise associating with any securities broker dealer or investment adviser according…
Joseph Ismael Rodriguez of Parsippany New Jersey a stockbroker currently employed by Hennion Walsh Inc. has been identified in a customer initiated investment related arbitration claim where the customer sought $300,000.00 in damages founded on accusations that the customer was provided with defective investment advice regarding investments including unit investment trusts and mutual funds between…
William Christian Gennity (also known as Billy Gennity) of Staten Island New York a stockbroker formerly registered with First Standard Financial Company LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that the stockbroker failed to comply with a FINRA Arbitration Award in which…
Jaime Michael Westenbarger of Grand Rapids Michigan a stockbroker formerly associated with First Allied Securities Inc. is the subject of a customer initiated investment related complaint on January 21, 2020 in which the customer requested $30,636.16 in damages based upon allegations of the stockbroker misrepresenting an annuity sold to the First Allied Securities customer. Westenbarger…
Brenda Ann Smith (also known as Brenda Smith Peterman) of West Conshohocken Pennsylvania a stockbroker and investment advisor formerly associated with CV Brokerage Inc., Broad Reach Capital LP and Bristol Advisors LLC is named in a Securities and Exchange Commission (SEC) Complaint alleging that Smith and the companies she controlled had defrauded investors who purchased…
William Nicholas Athas of Melville New York a stockbroker formerly registered with KC Ward Financial is the subject of a customer initiated investment related arbitration claim which was resolved for $95,000.00 in damages based upon accusations that the customer was defrauded. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-00213 (Feb. 22, 2018). According to the…
Kevin Richard Graetz of New York New York a stockbroker employed by Paulson Investment Company LLC has been identified in a customer initiated investment related arbitration claim which was resolved for $225,000.00 damages founded on accusations that the customer was placed into unregistered and fraudulent investments during the time that Graetz was employed by Paulson…
Tamara Rae Steele (also known as Tammie Steele) of Pendleton Indiana a stockbroker formerly registered with APW Capital Inc. (now known as Comprehensive Asset Management and Servicing Inc.) has been referenced in a customer initiated investment related arbitration claim in which the customer requested $353,500.00 in damages supported by allegations that the customer was sold…
Jill Marie Cody (also known as Jill Marie Tramontano) of Spring Lake New Jersey a stockbroker associated with Westminster Financial Securities Inc. and Concorde Investment Services LLC has been referenced in a customer initiated investment related arbitration claim which has been settled for $125,000.00 in damages supported by allegations that (1) misrepresentations were made to…
William Mark Heiden of Newport Beach California a stockbroker registered with Wedbush Securities Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $475,000.00 in damages based upon allegations that (1) unauthorized trades were effected in the customer’s account (2) the customer was defrauded through misrepresentations (3) a fiduciary…
Gustavo Trujillo Franco of Old Bridge New Jersey a stockbroker formerly registered with Global Strategic Investments LLC (now known as Gentem Capital LLC and LevelX Capital LLC) has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he neglected to provide recorded testimony to the regulator during the time that it…
Edward Earl Matthes (also known as Ed Matthes) of Oconomowoc Wisconsin a stockbroker associated with Mutual of Omaha Investor Services Inc. has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment advisor or otherwise associating with securities broker dealers or investment advisories according to an Order based on allegations of…
Hector Anthony May of New City New York a stockbroker formerly employed by Securities America Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $18,000,000.00 in damages based upon allegations that (1) the customer’s funds were converted and misappropriated (2) a fiduciary duty which was owed to…
Floyd Earl Powell of Albertville Alabama a stockbroker formerly employed by MSI Financial Services Inc. and MML Investors Services LLC has been identified in a customer initiated investment related arbitration claim which was resolved for $1,075,000.00 in damages founded on accusations that (1) investment information was falsified or concealed by the stockbroker in regard to…
Luke Michael Johnson of Scottsdale Arizona a stockbroker formerly employed by Coastal Equities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $509,000.00 in damages based upon allegations that investment recommendations made by Johnson between June of 2017 and June of 2018 failed to be suitable for…
Vincent James Mazza of Jersey City New Jersey a stockbroker employed by National Securities Corporation has been barred by Financial Industry Regulatory Authority (FINRA) from associating with any member in any capacity founded on accusations of the stockbroker’s failure to comply with the regulator’s request for information. Case No. 2018060932001 (Oct. 28, 2019). FINRA Public…
Jason R. Watson of Philadelphia Pennsylvania a stockbroker formerly associated with Voya Financial has been identified in a customer initiated investment related complaint on June 13, 2019 where the customer sought unspecified damages founded on accusations that the customer was defrauded and exposed to phony sales practices relating to the customer’s purchase of a universal…
Dean Robert Nowak of Winter Park Florida a stockbroker formerly registered with TCM Securities Inc. is the subject of a customer initiated investment related complaint on April 22, 2019 where the customer sought $66,666.67 in damages based upon accusations of misrepresentations and omissions of investment information being made by the stockbroker when advising the customer…
Steven John Meyer of Staten Island New York a stockbroker formerly associated with Legend Securities Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer was awarded $110,622.95 in compensatory damages supported by Meyer and Legend Securities being found liable on the customer’s claims which included that (1) transactions…
Tara Lueddeke is a retail investor. National Securities Corp. is a FINRA registered broker-dealer in New York. According to securities regulators, National Securities has more than 577 registered representatives operating from more than 84 geographically dispersed or branch offices across the United States. National has been subject to numerous regulatory actions for the failure to…
Paulson Investment Company LLC a securities broker dealer headquartered in Chicago Illinois has been censured and fined $50,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that the securities broker dealer engaged in the unregistered offer and sale of private placements. Letter of Acceptance Waiver and Consent No. 2018056269003 (Jan. 31, 2020). According to…
Mark Lewton Hopkins of Grand Blanc Michigan a stockbroker formerly registered with American Portfolios Financial Services Inc. is the subject of an enforcement action initiated by Michigan Corporations Securities and Commercial Licensing Bureau in which the regulator is seeking sanctions against Hopkins based upon allegations that he violated Michigan Securities Act by omitting to a…
Mitchell Louis Silverman of Boca Raton Florida a stockbroker currently registered with Raymond James Associates Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $10,000.00 in damages based upon allegations that (1) the customer was defrauded by making purported stock purchases through Silverman (2) an investment contract was…
Sean Joseph Kelly of Marietta Georgia a stockbroker currently registered with Center Street Securities Inc. is the subject of an Order Instituting Administrative Proceedings initiated by Securities and Exchange Commission (SEC) in which SEC is seeking sanctions against Kelly which potentially include a bar from the securities industry since the stockbroker was permanently enjoined from…
Andrew Scott Corbman of Lansdowne Virginia a stockbroker employed by Kovack Securities Inc. has been referenced in a customer initiated investment related arbitration claim which has been resolved for $80,000.00 in damages founded on accusations that (1) common or preferred equity stock transactions failed to be adequately supervised by the securities broker dealer (2) transactions…
Todd Joseph Henrich of Iselin New Jersey a stockbroker formerly registered with National Securities Corporation has been suspended by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in any capacity based upon accusations that the stockbroker failed to comply with a customer initiated investment related arbitration award or settlement agreement or otherwise…
Raymond John Pirrello Jr. of Hackensack New Jersey a stockbroker formerly registered with Garden State Securities Inc. has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment advisor or otherwise associating with any securities broker dealer or investment adviser based upon a judgment rendered against the stockbroker permanently enjoining him…
Luis Currais Lopez of Dorchester Massachusetts a stockbroker formerly employed by Santander Securities LLC has been identified in a customer initiated investment related arbitration claim which has been resolved for $12,000.00 in damages founded on accusations that (1) transactions failed to be adequately supervised by the securities broker dealer (2) false or misleading statements had…
James Edward Lyons of Shreveport Louisiana a stockbroker employed by Raymond James Associates Inc. has been referenced in a customer initiated investment related arbitration claim in which the customer had been awarded $2,986,708.96 in compensatory damages supported by Raymond James Associates being found liable on the customer’s claims which included that (1) mutual funds, stocks…
Michael Alejandro Castillero of New York New York a stockbroker formerly associated with Alexander Capital LP has been referenced in a customer initiated investment related arbitration claim in which the customer requested $150,000.00 in damages supported by allegations that (1) fiduciary obligations were not complied with (2) the elderly customer had been exploited or otherwise…
John Cochran Maccoll of Birmingham Michigan a stockbroker registered with UBS has been stripped of his stockbroker license or investment adviser representative license based upon accusations that (1) the stockbroker violated securities laws or regulations and (2) the stockbroker was expelled by a securities regulator based upon accusations of his misconduct in the securities industry….
Robert Spencer Cavanagh (also known as Bob Holt) of Syosset New York a stockbroker currently registered with David Lerner Associates Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $38,500.00 in damages based upon allegations that (1) the customer was defrauded by making investments through the stockbroker (2)…
Michael Giokas of Clarence New York a stockbroker employed by Fortune Financial Services Inc. has been identified in a customer initiated investment related arbitration claim which has been resolved for $22,000.00 in damages founded on accusations that (1) a fiduciary duty was breached (2) transactions failed to be adequately supervised by the securities broker dealer…
Dana Bruce Vietor of Dallas Texas a stockbroker formerly registered with CFD Investments Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $75,000.00 in damages supported by allegations that (1) a contract was breached by the stockbroker or the securities broker dealer (2) fiduciary duties had been breached…
Lance Jeffrey Ziesemer of Wayzata Minnesota a stockbroker formerly registered with Feltl Company is the subject of a customer initiated investment related arbitration claim where the customer was awarded $44,972.00 in compensatory damages based upon Feltl Company being found liable on the customer’s claims which included (1) fraud (2) breach of fiduciary duty (3) breach…
Richard Lyndon Brown of Farmingdale New York a stockbroker formerly registered with Arive Capital Markets has been charged by Securities and Exchange Commission (SEC) in a Complaint in which the regulator is seeking sanctions against Brown based upon allegations that the stockbroker engaged in a fraudulent bribery scheme violative of federal securities laws. Securities and…
Walter Roland Valenzuela of Del Mar California a stockbroker currently registered with Hilltop Securities Inc. is referenced in a customer initiated investment related complaint which was settled on November 1, 2018 for $100,000.00 in damages founded on accusations that (1) unit investment trust trades were made in the customer’s account on an excessive basis (2)…
Jason Lyn Figueroa of Boca Raton Florida a stockbroker formerly registered with GMS Group LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested 1,000,000.00 in damages supported by allegations that (1) the customer’s account had been negligently administered (2) municipal debt investment recommendations failed to be suitable…
Timothy Allen Thelen of Scottsdale Arizona a stockbroker formerly registered with Aeon Capital Inc. and Accelerated Capital Group is referenced in a customer initiated investment related arbitration claim where the customer requested $620,000.00 in damages founded on accusations that (1) private placement offerings were negligently recommended or sold by the stockbroker and (2) Thelen breached…
Lek Securities Corporation a securities broker dealer headquartered in New York New York and Samuel Frederik Lek (its former Chief Executive Officer) have been sanctioned by Financial Industry Regulatory Authority (FINRA) according to a FINRA Office of Hearing Officers Order Accepting Offer of Settlement based in part on findings that Lek Securities Corporation and Samuel…
Anthony Vultaggio Jr. of East Meadow New York a stockbroker formerly employed by American Capital Partners LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $700,000.00 in damages based upon accusations that the customer had been sold a bad private placement offering through Vultaggio during the time…
Peyton Nelson Jackson of New York New York a stockbroker formerly employed by Alexander Capital is the subject of a customer initiated investment related arbitration claim where the customer sought $280,000.00 in damages based upon accusations that (1) unsuitable recommendations or trades had been made by the stockbroker (2) fiduciary obligations were violated concerning restricted…
Michael Anthony Lipscomb of Orlando Florida a stockbroker currently registered with Ameriprise Financial Services is the subject of a customer initiated investment related arbitration claim where the customer was awarded $40,000.00 in compensatory damages based upon Ameriprise being found liable on the customer’s claims including that (1) fiduciary duties were violated (2) contractual obligations had…
Christopher Michael Zelesnick of Nashville Tennessee a stockbroker formerly employed by Impactive Advisors LLC is the subject of a customer initiated investment related civil action in which the customer sought $7,250,000.00 in damages founded on accusations that between 2013 and 2017: (1) the customer had been defrauded and (2) the customer’s funds had been misappropriated…
Laurence Charles Greene of Ellijay Georgia a stockbroker formerly employed by Herbert J. Sims Co. Inc. is referenced in a customer initiated investment related arbitration claim which was settled for $65,000.00 in damages supported by accusations that (1) false or misleading statements had been made in regard to investments Greene sold to the customer (2)…
Walter Warren Parker of Rowlett Texas a stockbroker formerly registered with Titan Securities is referenced in a customer initiated investment related written complaint which was resolved for $10,000.00 in damages on September 20, 2019 supported by accusations that the customer had been inappropriately sold real estate security products and at least four of the customer’s…
Kerry Lee Hoffman of Mundelein Illinois a stockbroker formerly registered with LPL Financial LLC has been charged by Securities and Exchange Commission (SEC) in a Complaint which alleged that Hoffman engaged in securities fraud through his offer and sale of unregistered GT Media Inc. securities. United States Securities and Exchange Commission v. Kerry L. Hoffman…
Christopher Duke Bennett of Louisville Kentucky a stockbroker formerly employed by J.J.B. Hilliard W.L. Lyons LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $65,000.00 in damages supported by allegations that (1) the customer’s account was churned (2) unauthorized trades were executed by the stockbroker (3) investment…
Gary Wayne Hammond of Charlotte North Carolina a stockbroker formerly registered with MSI Financial Services (MetLife Securities) is the subject of a customer initiated investment related civil action brought in the North Carolina Superior Court in which the customer sought more than $25,000.00 in damages based upon allegations that (1) the customer had been provided…
John Alexander Tarpinian of New York New York a stockbroker formerly registered with Paulson Investment Company LLC and Newport Coast Securities is referenced in a customer initiated investment related arbitration claim in which the customer sought unspecified damages founded on accusations that between February of 2013 and March of 2019: (1) fiduciary obligations were breached…
John Gerard Forrester Jr. of Boca Raton Florida a stockbroker currently registered with Newbridge Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $55,000.00 in damages supported by allegations that (1) the customer’s account was handled in a negligent manner (2) contractual obligations had been breached and…
Zachary Samuel Berkey of Melville New York a stockbroker formerly registered with Four Points Capital Partners LLC has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment advisor or otherwise associating with securities broker dealers or investment advisories according to an SEC Order supported by allegations that Berkey: (1) executed…
Minish Joe Hede (also known as Minish Mohan Hede) of New York New York a stockbroker formerly employed by Paulson Investment Company LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $500,000.00 in damages based upon accusations that the customer had been placed into unregistered and fraudulent securities…
Douglas P. Simanski of Altoona Pennsylvania a stockbroker formerly employed by Next Financial Group Inc. has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment advisor or otherwise associating with securities broker dealers or investment advisories according to an Order containing findings that Simanski engaged in securities fraud. In the…
Donald Joseph Fowler of Rockville Center New York a stockbroker formerly employed by Worden Capital Management LLC and J.D. Nicholas Associates Inc. was found liable by a jury for engaging in a fraudulent investment scheme which involved Fowler’s excessive trading of customer accounts causing catastrophic losses for his customers. Securities and Exchange Commission v. Donald…
Donald Joseph Fowler of Rockville Center New York a stockbroker formerly employed by Worden Capital Management LLC and J.D. Nicholas Associates Inc. was found liable by a jury for engaging in a fraudulent investment scheme which involved Fowler’s excessive trading of customer accounts causing catastrophic losses for his customers. Securities and Exchange Commission v. Donald…
Howard Joseph Allen III of New York New York a stockbroker currently registered with Portfolio Advisors Alliance LLC is the subject of a Securities and Exchange Commission (SEC) Order Instituting Administrative Proceedings Pursuant to Securities Exchange Act of 1934 Section 15(b) regarding sanctions SEC may impose based upon Allen committing securities fraud. In the Matter…
Jerry Davis Raines of Kilgore Texas a stockbroker formerly registered with HD Vest Investment Services is referenced in a customer initiated investment related arbitration claim where the customer requested $2,250,000.00 in damages based upon accusations of Raines misrepresenting risks which pertained to Woodbridge Group of Companies investments sold to the customer during the time that…
Gary Lyle Pevey of Sacramento California a stockbroker formerly registered with Mutual Securities Inc. is referenced in a customer initiated investment related written complaint on April 29, 2019 where the customer requested $134,009.35 in damages founded on accusations that (1) the customer had been sold speculative and fraudulent investments which led the customer to experience…
David Francis Faline of St. Augustine Florida a stockbroker formerly employed by Newbridge Securities Corporation is the subject of a customer initiated investment related arbitration claim in which the customer requested more than $5,000.00 in damages based upon allegations that (1) the customer’s investments were overconcentrated in alternative investments and common and preferred stocks and…
Michael Joseph Kane III of Allen Texas a stockbroker currently registered with BBVA Securities Inc. is referenced in a customer initiated investment related written complaint on October 7, 2018 where the customer sought $235,000.00 in damages supported by allegations that (1) misrepresentations had been made by the stockbroker concerning certificate of deposits and (2) the…
Prentice Valiant Chevalier Jr. (also known as Val Chevalier) of Wall Township New Jersey a stockbroker formerly registered with MetLife Securities Inc. is referenced in a customer initiated investment related written complaint on October 9, 2019 where the customer sought more than $5,000.00 in damages supported by allegations that unfounded statements had been made by…
Michael Richard Mackay of Cincinnati Ohio a stockbroker formerly employed by Transamerica Financial Advisors Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $620,000.00 in damages founded on allegations that customers had been placed into inappropriate promissory notes which Mackay effected outside the auspices of the securities broker…
Paul Wescoe Smith of Wayne Pennsylvania a stockbroker formerly employed by Bolton Global Capital has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment advisor or otherwise associating with securities broker dealers or investment advisories according to an Order Instituting Administrative Proceedings containing findings of Smith committing securities fraud. In…
John Joseph Labarca of Edison New Jersey a stockbroker formerly registered with National Securities Corporation is the subject of a customer initiated investment related arbitration claim in which the customer requested $80,000.00 in damages supported by allegations that (1) misrepresentations had been made about investments (2) the customer’s account was handled in a negligent manner…
Gregory Jon Williams (also known as Greg Williams) of Greenwood Village Colorado a stockbroker currently registered with Presidential Brokerage Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $578,821.00 in damages supported by allegations that (1) fiduciary obligations failed to be complied with by Williams (2) fraudulent transactions…
Jack David Stone of Hillside Illinois a stockbroker and securities principal formerly registered with Forest Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Stone neglected to provide recorded testimony before FINRA personnel when he was investigated by the regulator…
David Michael Levy of Wellington Florida a stockbroker formerly registered with Titus Rockefeller LLC (also known as TR Capital Group LLC) is the subject of a customer initiated investment related arbitration claim where the customer requested $1,554,000.00 in damages founded on accusations that (1) fiduciary duties were not complied with (2) the extension of margin…
William Christian Gennity of Staten Island New Jersey a stockbroker formerly registered with First Standard Financial Company has been barred from being a stockbroker or investment advisor or otherwise associating with investment advisories or securities broker dealers according to an SEC Order containing findings that Gennity defrauded investors. In the Matter of William C. Gennity…
Joseph John Weinrich Sr. of Overland Park Kansas a stockbroker formerly registered with Moloney Securities Co. Inc. is referenced in a customer initiated investment related civil action brought in the Circuit Court of Jackson County Missouri where the customer sought $225,000.00 in damages based upon accusations of (1) nondisclosures concerning the risks of venture capital…
Todd Joseph Henrich of Iselin New Jersey a stockbroker formerly employed by National Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer was awarded $14,441.79 in compensatory damages based upon Henrich being found liable on the customer’s claims of (1) misrepresentations concerning the terms or risks of investments…
Nicholas Harris Shermeta (also known as Nick Shermeta) of Minneapolis Minnesota a stockbroker formerly employed by Northland Securities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $409,949.79 in damages supported by allegations that (1) transactions had been effected by Shermeta in violation of Minnesota Securities Act…
Michael Salvatore Stanton of New York New York a former Director of Capital Markets for Legend Securities Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $15,000,000.00 in damages founded on allegations that (1) contractual obligations to the customer had been breached (2) the customer’s account was administered…
Noel Ray Vincent of Southfield Michigan a stockbroker formerly registered with Madison Avenue Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages based upon allegations that (1) the customer’s assets were handled in a negligent manner (2) fiduciary duties were breached…
Antonio Costanzo of Chesapeake Virginia a stockbroker formerly employed by Titus Rockefeller LLC (also known as TR Capital Group LLC) has been fined $10,000.00 and barred by Florida Office of Financial Regulation according to an Order founded on accusations that (1) Costanzo engaged in fraudulent investment transactions (2) Costanzo executed trades on margin without having…
Manuel Francisco Porrata Monserrate (also known as Manuel F. Porrata) of San Juan Puerto Rico a stockbroker formerly registered with Oriental Financial Services is referenced in a customer initiated investment related complaint where the customer sought $210,000.00 in damages based upon allegations that (1) the customer’s account was administered negligently (2) investment recommendations failed to…
Robert Lansing Hicks (also known as Lance Hicks) of Irvine California a stockbroker and former owner of Finance 500 Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages founded on accusations that (1) contractual obligations to the customer had been breached (2) the customer’s account had…
Fred Shlesinger of Addison Texas a stockbroker formerly employed by Principal Securities Inc. is the subject of a customer initiated investment related complaint on October 14, 2018 regarding Shlesinger’s conduct where the customer sought damages estimated to exceed $5,000.00 based upon accusations that misrepresentations were made to the customer concerning the funding of a variable…
Terry Joe Bagwell of Birmingham Alabama a stockbroker formerly registered with Pruco Securities LLC is the subject of a customer initiated investment related arbitration claim which was settled for $120,000.00 in damages founded on accusations that Bagwell failed to supervise a stockbroker who sold away from the firm by placing customers into fraudulent unregistered securities…
John Rothrock McKinstry Jr. of St. Louis Missouri a stockbroker formerly registered with Moloney Securities Co. Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $300,000.00 in damages supported by allegations that (1) fiduciary obligations to the customer were violated (2) false or misleading statements had been made…
Jason M. Santini of Garden City New York a stockbroker formerly employed by Spartan Capital Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $655,000.00 in damages supported by accusations that (1) Santini violated his fiduciary duties to the customer (2) Santini effected transactions in the customer’s…
David Lee Reynolds of Modesto California a stockbroker formerly registered with Principal Securities Inc. is the subject of a customer initiated investment related written complaint on March 6, 2019 where the customer requested $100,000.00 in damages founded on accusations that (1) Reynolds committed elder abuse (2) Reynolds placed the customer in investments including private placements…
Giustino DeStefano (also known as Justin DeStefano) of Williamsville New York a stockbroker formerly registered with Securities America Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $1,000,000.00 in damages supported by allegations of (1) violation of FINRA Rules and federal securities laws (2) overconcentration of the customer’s…
Matthew J. Giannone of Melville New York a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages founded on allegations that (1) misrepresentations had been made to the customer (2) the customer’s account was mishandled (3) contractual obligations to…
Thomas G. Gresham (also known as Tom Gresham) of Overland Park Kansas a stockbroker currently registered with Moloney Securities Co. Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $495,000.00 in damages founded on accusations that (1) Moloney Securities Co. and UBS Financial Services Inc. collectively failed to…
Arturo Colon of Mayaguez Puerto Rico a stockbroker formerly employed by Santander Securities LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $150,000.00 in damages founded on accusations that (1) the customer’s account transactions had been negligently administered (2) contractual obligations were breached (3) securities rules and…
Richard Anthony Cavileer of Edison New Jersey a stockbroker formerly employed by National Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $438,190.00 in damages founded on allegations that (1) misrepresentations had been made to the customer concerning the terms and conditions of over-the-counter equities investment purchased…
Titan Securities a brokerage firm headquartered in Addison Texas, and Brad Curtis Brooks (the firm’s Chief Executive Officer and President) and Richard Wayne Demetriou (the firm’s registered representative) have been fined by Financial Industry Regulatory Authority (FINRA) according to an Extended Hearing Panel Decision containing findings that (1) misleading or false representations had been made…
Ganesh Iyer (also known as Ganesh Ramachandran) of Houston Texas a stockbroker formerly registered with Morgan Stanley has been named in a customer initiated investment related arbitration claim in which Iyer and Morgan Stanley were ordered by a FINRA Arbitration Panel to pay $54,954.04 in compensatory damages to the customer based upon the Panel finding:…
John Dennis Lowry of New York New York the Chief Executive Officer and Managing Member of Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim in which customers were collectively awarded $330,000.00 based upon findings that Lowry and Spartan Capital Securities LLC (1) breached fiduciary duties to the customer (2)…
Michael Joseph Dorsey of Honolulu Hawaii a stockbroker currently registered with Stifel Nicolaus Company Incorporated is the subject of a customer initiated investment related arbitration claim which was settled for $50,000.00 in damages founded on accusations of (1) violation of New York Stock Exchange (NYSE) and FINRA Rules (2) violation of federal and state securities…
James Hal Heafner (also known as Jim Heafner) of Charlotte North Carolina a stockbroker formerly registered with Taylor Capital Management Inc and former investment adviser representative of Retirement Wealth Advisors is the subject of a customer initiated investment related arbitration claim in which the customer requested $268,015.79 in damages founded on allegations that (1) inappropriate…
Luis Currais Lopez of Dorchester Massachusetts a stockbroker formerly registered with Santander Securities LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought $65,000.00 in damages supported by accusations that (1) fiduciary duties were breached (2) the customer was falsely induced into inaction upon discovering volatility in the customer’s…
Sebastian George Bongiovanni of Staten Island a stockbroker currently employed by Newbridge Securities Corporation is referenced in a customer initiated investment related arbitration claim which was resolved for $91,000.00 in damages supported by accusations that (1) investment recommendations made to the customer were not suitable (2) unauthorized trades were executed in the customer’s account (3)…
James H. Im of New York New York a stockbroker formerly registered with Nomura Securities International Inc. has been charged by Securities and Exchange Commission (SEC) in a Complaint alleging that Im engaged in securities fraud in regard to the purchases and sales of mortgage backed securities. Securities and Exchange Commission v. James H. Im…
Edward William Wedbush of New York New York the President and Chairman of Wedbush Inc. (the parent company of Wedbush Securities Inc.) and registered representative of Wedbush Securities Inc. and Lime Brokerage LLC has been named in a Financial Industry Regulatory Authority (FINRA) Wells Notice in which FINRA made an initial decision to advise that…
Sandlapper Securities LLC a broker dealer headquartered in Greenville South Carolina and Trevor Gordon (its majority owner and Chief Executive Officer) and Jack Bixler (its Chief Executive Officer) have been sanctioned by Financial Industry Regulatory Authority (FINRA) according to a FINRA Office of Hearing Officers Extended Hearing Panel Decision containing findings that (1) Sandlapper Securities…
Sean Joseph Kelly of Marietta Georgia a stockbroker formerly registered with Center Street Securities Inc. and the Chief Executive Officer of Lion’s Share Financial has been charged by Securities and Exchange Commission (SEC) in a Complaint alleging that Kelly defrauded twelve investors who provided him money through Lion’s Share to invest in alternative investments. Securities…
Robert Luis Maldonado of Guaynabo Puerto Rico a stockbroker formerly registered with Santander Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $500,000.00 in damages founded on allegations of (1) violations of securities laws (2) breach of contract (3) supervisory failures (4) negligence (5) breach of fiduciary duty…
Ryan John Lawson of Phoenix Arizona a stockbroker formerly registered with Lawson Financial Corporation is referenced in a customer initiated investment related arbitration claim in which he was ordered to pay the customer $7,500.00 in damages based upon Lawson having been found liable on the customer’s claims that (1) Lawson made misrepresentations and omissions to…
Frank Anthony Dinucci Jr. of New York New York a stockbroker formerly registered with AOC Securities LLC was terminated on April 6, 2017. Two weeks later, on April 17, 2017, Dinucci pleaded guilty to violating 18 U.S.C. 371 and pursuant to a plea agreement with the District of Connecticut’s United States Attorney’s Office pled guilty to a…
Ricardo Antonio Rodriguez Vazquez of Guaynabo Puerto Rico a stockbroker formerly employed by Santander Securities LLC is the subject of a customer initiated investment related arbitration claim on April 10, 2018 where the customer sought $979,000 in damages based upon accusations of (1) negligence (2) failure to supervise (3) breach of the duty of good faith…
John Basile Manikas of Chicago Illinois a stockbroker formerly employed by Stifel Nicolaus Company Incorporated is the subject of a customer initiated investment related arbitration claim which settled for $342,500.00 in damages founded on allegations that (1) the customer had been defrauded (2) contractual obligations had been breached (3) the customer’s account was handled negligently…
Lazaro Armando Fernandez Paredes of Dorchester Massachusetts a stockbroker formerly registered with Santander Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $100,000.00 in damages founded on accusations that (1) transactions were executed in the customer’s account that were not suitable for the customer (2) the customer’s account…
Nghi Thanh Ho of Houston Texas a stockbroker formerly registered with IMS Securities Inc. is referenced in a customer initiated investment related written complaint on February 13, 2017 where the customer sought $175,400.00 in damages based upon accusations that misrepresentations had been made to the customer concerning investments in a variable annuity. Financial Industry Regulatory…
Christopher Edward McClure of New York New York the president and chief executive officer of Westport Capital Markets LLC (a dually registered investment advisor and brokerage firm) has been charged by Securities Exchange Commission (SEC) in a Complaint along with Westport alleging that McClure and the firm defrauded their advisory customers. Securities and Exchange Commission…
Brian Charles McGeehan of Newtown Square Pennsylvania a stockbroker formerly employed by New England Securities is the subject of a customer initiated investment related written complaint on June 4, 2018 where the customer requested damages estimated to exceed $5,000.00 based upon allegations that McGeehan made unsuitable investment recommendations to the customer concerning a variable life…
William Charles Sines of Seminole Florida a stockbroker formerly registered with Kalos Capital Inc. is referenced in a customer initiated investment related complaint which was resolved for $19,737.00 in damages on March 2, 2018 based upon allegations that unsuitable real estate security and mutual fund recommendations had been made to the customer. Financial Industry Regulatory…
David Jonathan Merriman of San Francisco California a former chief executive officer of Merriman Capital Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $60,000.00 in damages based upon accusations of poor performance pertaining to over-the-counter equities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-00954 (Dec. 8, 2017). FINRA…
Brian Colin Doherty of New York New York a stockbroker formerly employed by BGC Securities has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Doherty engaged in a fraudulent investment scheme. Department of Enforcement v. Brian Colin Doherty Disciplinary Proceeding No. 20150470058-01 (Aug. 2, 2018). According to the Complaint, between…
Kyle Robert Franklin of Roseville California a stockbroker currently registered with Hilltop Securities Inc. is referenced in a customer initiated investment related written complaint on April 10, 2018 in which the customer sought at least $5,000.00 in damages supported by allegations that the customer was inappropriately advised to reallocate variable annuity positions, resulting in the…
Premium Point Investments LP, a Securities and Exchange Commission (SEC) registered investment advisor headquartered in New York, New York, as well as its chief executive officer, Anilesh Ahuja (also known as Neil Ahuja), portfolio manager, Amin Majidi, and trader, Jeremy Shor, have collectively been charged by SEC in a Complaint alleging that they have committed,…
George Edward Mathis of The Villages, Florida, a stockbroker currently registered with Raymond James & Associates, Inc., is the subject of a customer initiated investment related arbitration claim in which the customer requested $65,000.00 in damages based upon allegations of fraud, misrepresentation, breach of contract, negligence, and breach of fiduciary duty pertaining to investment transactions…
Joseph Eldon Johnson of North Riverside Illinois a stockbroker currently registered with Raymond James Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $50,000.00 in damages supported by accusations of sales practice violations relating to exchange traded funds including (1) negligence (2) breach of fiduciary duty (3)…
Jeffrey Scott Richman of Boulder Colorado a stockbroker formerly employed by BBVA Securities Inc. is referenced in a customer initiated investment related written complaint on April 1, 2018, which was resolved for $29,669.65 in damages supported by accusations that the customer was sold an unsuitable corporate note given the lack of Federal Deposit Insurance Corporation…
David Christopher Hydrick of Memphis Tennessee a stockbroker formerly registered with Raymond James Associates Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $400,000.00 in damages based upon accusations of (1) misappropriation (2) unauthorized trading in the customer’s account (3) breach of contractual duties (4) conversion of the…
Alexis Lertora of Miami Florida a stockbroker formerly employed by CP Capital Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Lertora (1) made omissions and misrepresentations to customers (2) made unsuitable investment recommendations and (3) lacked an adequate basis to…
Patrick John McLaughlin of Boca Raton Florida a stockbroker currently registered with Stifel Nicolaus Company Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $970,000.00 in damages supported by accusations including (1) suitability (2) securities fraud and (3) misrepresentation relating to municipal debt transactions executed in the customer’s…
Tamara Ann Dawson of Boynton Beach Florida a stockbroker formerly employed by Essex National Securities LLC is the subject of a customer initiated investment related written complaint on January 17, 2018 in which the customer sought $22,000.00 in damages based upon allegations that Dawson inappropriately advised the customer to hold AR Capital Healthcare Trust III…
Rafael Golan of Delray Beach Florida a president and chief compliance officer currently employed by Crystal Bay Securities Inc. is referenced in a Financial Industry Regulatory Authority (FINRA) investigation launched on November 30, 2017 pertaining to allegations that Golan committed violations of FINRA rules and federal securities laws. FINRA Public Disclosure reveals that Golan potentially…
John Robert Morris of Warren New Jersey a stockbroker currently registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $1,300,000.00 in damages founded on allegations that between 2011 and 2015, energy sector investments and municipal bonds had been misrepresented to the customer…
Deborah Diane Burns (also known as Deborah Diane Kelley) of Piedmont California a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been barred by Securities and Exchange Commission (SEC) from association with a broker or investment advisor in all capacities based upon an Order Instituting Administrative Proceedings in which Burns consented to SEC’s…
Windsor Street Capital L.P. (formerly known as Meyers Associates L.P.) a brokerage firm headquartered in New York New York has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that the firm engaged in a scheme to defraud investors. Department of Enforcement v. Windsor Street Capital LP et al. Disciplinary Proceeding No….
Clark Smith Gardner of Orem Utah a stockbroker formerly employed by Cetera Advisors LLC has been barred by Securities and Exchange Commission (SEC) from associating with any brokerage firm or investment advisory according to an Order Instituting Administrative Proceedings in which Gardner consented to findings that he committed securities fraud. In the Matter of Clark…
Arlo Bryan Sullivan of San Luis Obispo California a stockbroker formerly registered with UBS Financial Services Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $843,000.00 in damages based upon accusations including (1) elder abuse (2) mismanagement of the customer’s account (3) negligence (4) misrepresentation (5) breach of…
Karley Carto of Johnston Rhode Island a former registered representative of NYLife Securities LLC is referenced in a customer initiated investment related written complaint on March 19, 2018 where the customer requested $62,370.00 in damages supported by allegations that the customer was misled in regard to two variable annuities that the customer was placed in….
Harold Lee Connell of Miami Florida a stockbroker formerly employed by CP Capital Securities is the subject of a Financial Industry Regulatory Authority (FINRA) Wells Notice where FINRA recommended that a disciplinary action be pursued against Connell alleging that he committed fraud and effected promissory notes and private placement transactions that were not suitable for…
Marshall Owen Isaacson of Boca Raton Florida a stockbroker formerly registered with National Securities Corporation is referenced in a customer initiated investment related arbitration claim which was resolved for $92,000.00 in damages based upon allegations that over-the-counter equities transactions had been placed in the customer’s account that were not suitable for the customer. Financial Industry…
Richard Gomez of New York New York is a former Legend Securities Inc. stockbroker who is subject of a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Decision which contained findings that Gomez (1) made fraudulent misrepresentations to customers (2) recommended securities that were not suitable for customers and (3) sold investments away from Legend…
Mitchell Dean Simkins of Salt Lake City Utah is a stockbroker currently registered with Mid Atlantic Capital Corporation who is the subject of a customer initiated investment related civil action which settled for $370,000.00 in damages based upon accusations including (1) the offer and sale of unregistered securities through an entity which was not registered…
Gregg Z. Schonhorn of Short Hills New Jersey is a stockbroker formerly registered with FTN Financial Securities Corp who has been charged by SEC in a Complaint alleging that he engaged in a fraudulent investment scheme. United States Securities and Exchange Commission v. Gregg Z. Schonhorn et al. Civil Action No. 16-cv-9829 (Dec. 21, 2016)….
In July 2014, we wrote about the dismantling of the Pennsylvania Securities Commissioner, which was seen as an impediement to “capital formation” in the Keystone State. We called it: Securities Fraudsters: You have a friend in Pennsylvania. Each year in Pennsylvania investors conservatively lose $3 billion as the result of securities fraud, Ponzi schemes and…
Adam Robert Freund of Novi Michigan is a stockbroker formerly associated with Citizens Securities Inc. who is the subject of a customer initiated investment related arbitration claim in which the customer requested thirty-four thousand nine hundred twenty dollars in damages based upon accusations that the customer was sold municipal debt products that were fraudulent and…
Steven Michael Knowlton of Ann Arbor Michigan is a stockbroker formerly associated with IMS Securities Inc. who is the subject of a customer initiated investment related arbitration claim where the customer sought five hundred thousand dollars in damages based upon allegations of (1) fraud (2) unsuitable investment recommendations and (3) failure to conduct due diligence…
Abida Khan, also known as Sheik Firdosh Khan, of Passadena, California, a stockbroker formerly employed with Ameritas Investment Corp., has been permanently barred by the Securities and Exchange Commission (SEC) from acting as an investment adviser or broker, or associating with firms that provide investment advice or sell securities to the public, according to an…
Michael Corbett Milne of Ocala, Florida, a stockbroker formerly registered with Kovack Securities, is the subject of a customer initiated investment related arbitration claim, which settled for $13,000.00 in damages supported by accusations that Milne breached his fiduciary duties, negligently handled the customer’s investment account, breached his contractual duties, made misrepresentations, effected unauthorized options and…
Eric Richard Marlin of Solana Beach, California, a stockbroker registered with Finance 500, Inc., is the subject of a customer initiated investment related arbitration claim, where the customer sought $1,070,145.00 in damages founded on accusations including breach of contract, negligent misrepresentations and omissions, breach of fiduciary duty, breach of the covenant of good faith and…
Jon Lewis Bowles of Pasadena, California, a stockbroker registered with FSC Securities, Inc., is the subject of a customer initiated investment related arbitration claim, where the customer sought $50,000.00 in damages based upon allegations of violation of FINRA Rules, violation of state and federal laws, breach of contract, breach of fiduciary duty, misrepresentation, suitability and…
Martin Allen Stevens Jr., of Denver, Colorado, a stockbroker registered with Stifel, Nicolaus & Company, Incorporated, has been subject of a customer initiated investment related arbitration claim, in which the customer requested $249,000.00 in damages based upon allegations of breach of contract, misrepresentation, suitability, negligence, breach of fiduciary duty, and fraud in regard to equity…
James C. Tao and Donna Chen, of Houston Texas, stockbrokers and investment advisors formerly associated with Sunbelt Securities, were charged by Securities and Exchange Commission (SEC) in a Complaint alleging that Tao engaged in fraudulent securities transactions, and Tao and Chen offered and sold securities as unregistered brokers by selling away. Securities and Exchange Commission…
Bryan Wayne Anderson, of Birmingham, Alabama, a stockbroker formerly registered with Pruco Securities, LLC, has been barred by Securities and Exchange Commission (SEC) from engaging in business as a broker or an investment advisor, or otherwise associating with brokerage firms or investment advisories according to an Order containing findings that Anderson committed securities fraud. In…
Jackie Divono Wadsworth of Houston, Texas, the chief executive officer of IMS Securities, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $954,700.00 in damages supported by allegations of negligent supervision, breach of fiduciary duty, and fraud in regard to real estate investment trusts effected in the…
Leon Paul Rehak, of Fort Lauderdale, Florida, a stockbroker formerly registered with Raymond James & Associates, Inc., is the subject of a customer initiated investment related arbitration claim on October 12, 2017, in which the customer requested $499,000.00 in damages founded on allegations that from May 3, 2011 to September 29, 2017, the customer’s account…
Hank Mark Werner, of New York, a stockbroker formerly registered with Legend Securities, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Extended Hearing Panel Decision containing findings that Werner made unsuitable investment recommendations to a customer and engaged…
Abraham Heimann, of Alpharetta, Georgia, a stockbroker formerly registered with Cetera Advisors LLC, has been identified in a customer initiated investment related arbitration claim, where the customer sought $364,000.00 in damages based upon allegations of unauthorized trading, misrepresentation, breach of contract, breach of fiduciary duty, and fraud in regard to energy sector investments, including oil…
Frederick Wesley Roehm, of Schaumburg, Illinois, a stockbroker formerly registered with FSC Securities Corporation, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Order Accepting Offer of Settlement containing findings that Roehm, inter alia, failed to disclose that a customer sued him…
James Edward Lyons, of Shreveport, Louisiana, a stockbroker formerly registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related civil dispute, containing allegations of breach of contract, breach of fiduciary duty, fraudulent omissions, violations of federal securities laws, and violations of the securities laws of the State of Louisiana…
Robert Warren Lawson, of Phoenix, Arizona, founder of Lawson Financial Corporation, has been permanently barred by the Securities and Exchange Commission (SEC) from engaging in securities sales or investment advisory services, or otherwise associating with any investment adviser or broker, according to an SEC Order containing findings that he committed securities fraud. In the Matter…
Robert Russel Tweed, of San Marino, California, a stockbroker formerly associated with CapWest Securities, Inc., and member of a California based advisory firm, Tweed Financial Services, Inc., has been named in a Complaint brought by Securities and Exchange Commission (SEC), which alleged that Tweed defrauded investors by misrepresenting the performance of an investment fund as…
Scott Allen Sibley of Fort Lauderdale, Florida, a stockbroker formerly employed with Raymond James & Associates, is identified in a customer initiated investment related arbitration claim, wherein the customer sought $250,000.00 in damages based upon allegations of breach of contract, breach of fiduciary duty, negligence, fraud, and the violation of Florida’ Securities and Investor Protection Act…
Sandlapper Securities, LLC, a broker-dealer located in Greenville, South Carolina, as well as its majority owner and founder, Trevor Lee Gordon, and vice president, Jack Charles Bixler, have been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that they defrauded the firm’s customers through its sales of saltwater disposal wells investments. Department…
Mark Fred Augusta, of Solana Beach, California, a stockbroker formerly registered with Wedbush Securities Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer was awarded 250,000.00 in compensatory damages, $1,080,000.00 in punitive damages, and $110,000.00 in disgorged commissions on July 13, 2017, supported by allegations against Augusta and…
Noel Ray Vincent, of Houston, Texas, a stockbroker formerly currently registered with Madison Avenue Securities, is the subject of a customer initiated investment related arbitration claim on August 24, 2017, in which the customer alleged that Vincent made misrepresentations to the customer and placed unsuitable real estate transactions in the customer’s account. Financial Industry Regulatory…
Andrew Bruce Elsoffer, of Pepper Pike, Ohio, a stockbroker currently registered with Stifel, Nicolaus & Company, Inc., is the subject of a customer initiated investment related arbitration claim, which settled on October 27, 2016, for $165,000.00 in damages supported by allegations of negligence, breach of contract, elder abuse, elder exploitation, breach of fiduciary duty, suitability,…
Robert Juan Escobio, of Miami, Florida, a stockbroker formerly registered with Southern Trust Securities, Inc., has been subject of a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Notice denying an application furnished by Southern Trust Securities, Inc. for Escobio to be associated with the firm based upon accusations that Escobio engaged in fraudulent sales…
The Grosse Pointe Farms Michigan office of IMS Securities, is the subject of a customer initiated investment related arbitration claim on August 21, 2017, in which the customer requested $25,000.00 in damages based upon allegations of breach of fiduciary duty, misrepresentation, negligence, and failure to conduct adequate due diligence with respect to real estate investment…
Kerri Lynn Wassermann, of New York, New York, president of FINRA registered broker-dealer, Portfolio Advisors Alliance, LLC, was charged by the Securities and Exchange Commission (SEC) in a Complaint alleging that as president of a placement agency, he furnished investors with documents that he knew were misrepresented in the solicitation of securities transactions. Securities and…
Mariondy Fernandez, of Dorchester, Massachusetts, a stockbroker formerly registered with Santander Securities LLC, has been identified in a customer initiated investment related arbitration claim on October 4, 2016, where the customer requested $4,000,000.00 in damages based upon allegations against Fernandez of breach of contract and fiduciary obligations, negligence, over-concentration of customer assets, unsuitability, and fraud…
Demitrios Hallas, of New York, New York, a stockbroker formerly registered with Forefront Capital Markets, LLC, has been charged by the Securities and Exchange Commission (SEC) in a Complaint alleging that he effected fraudulent securities transactions and misappropriated funds from customers. Securities and Exchange Commission v. Demitrios Hallas, 1:17-cv-029991:17-cv-02999 (Apr. 25, 2017). According to the…
Cary Edward Scheer, of Southlake, Texas, a stockbroker formerly registered with Girard Securities, Inc., has been named in a customer initiated investment related arbitration claim on April 24, 2017, in which the customer requested $150,000.00 in damages based upon allegations that Scheer breached his contractual and fiduciary duties to the customer, made investment misrepresentations and…
William Christian Gennity, of New York, New York, a stockbroker formerly registered with Alexander Capital, L.P., has been identified in a Securities and Exchange Commission (SEC) Complaint on February 2, 2017, in which the SEC has pursued sanctions against Gennity based upon allegations that he committed fraudulent stock transactions; conduct violative of Securities Act of…
Dean Adam Myerow, of Hasbrouck Heights, New Jersey, a stockbroker formerly registered with BB&T Securities, LLC, has been identified in a customer initiated investment related arbitration claim on April 26, 2017, in which the customer requested $125,000.00 in damages based upon allegations that included violation of MSRB and FINRA rules, failure to supervise, breach of…
Joshua William Patterson, of Houston, Texas, a stockbroker currently registered with IMS Securities, Inc., has been named in a customer initiated investment related arbitration claim on April 7, 2017, in which the customer requested $1,233,805.00 in damages based upon allegations that Patterson breached his contractual and fiduciary duties to the customer, failed to conduct due…
Teryl Lee Trenchard, of Reston, Virginia, a stockbroker formerly registered with Capital Securities Management, Inc., has been identified in a Financial Industry Regulatory Authority (FINRA) investigation on March 10, 2017, wherein FINRA is examining alleged fraudulent activities of Trenchard. Trenchard was terminated by Capital Securities Management on March 10, 2017, based upon allegations that he…
Andrew Scott Corbman, of Lansdowne, Virginia, a stockbroker formerly registered with Kovack Securities, Inc., has been named in a customer initiated investment related arbitration claim, which settled on April 20, 2017, for $100,000.00 in damages based upon allegations including breach of contract and unsuitability pertaining to the customer’s stock purchases. Financial Industry Regulatory Authority (FINRA)…
Amy Elizabeth Elias, of Jersey City, New Jersey, a stockbroker formerly registered with E*Trade Securities LLC, has been named in a customer initiated investment related arbitration claim, in which the customer was awarded $10,000.00 in damages on April 14, 2016, based upon allegations that Elias effected unsuitable government debt transactions in the customer’s account, breached…
Joseph C. Farah, of Irvine, California, a stockbroker formerly registered with Gold Coast Securities, Inc., has been named in a Financial Industry Regulatory Authority (FINRA) investigation, wherein FINRA recommended disciplinary action to be taken against Farah based upon allegations that Farah potentially violated Securities Exchange Act of 1934 Section 10(b), SEC Rule 10b-5, FINRA Rules…
Jesse Lee Starr, of San Diego, California, a stockbroker formerly registered with Lucia Securities, LLC, has been named in a customer initiated investment related civil action on January 27, 2017, based upon allegations that Starr made misrepresentations to the customer concerning risks of a recommended investment strategy, effected unsuitable direct investment program transactions in the…
Kevin Keane, of Chicago, Illinois, a stockbroker currently registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim, which settled on June 26, 2014, for $11,800.00 in damages based upon allegations that Keane negligently handled the customer’s investment account, breached his fiduciary duties, made misrepresentations to the customer, effected…
Cecil E. Nivens, of Gastonia, North Carolina, a registered representative formerly associated with NYLife Securities, LLC, was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Nivens failed to execute upon customers’ investment instructions, and furnished documentation to customers containing false and misrepresented information. Department of Enforcement v. Cecil…
Baris Cabalar, of Hauppauge, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim on March 8, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Cabalar violated the Arkansas Securities Act, churned the customer’s account, breached his contractual and…
Lawson Financial Corporation, a brokerage firm headquartered in Phoenix, Arizona, as well as Robert Lawson (president, chief executive officer, and chief compliance officer), and Pamela Lawson (owner and chief operating officer) were sanctioned by Financial Industry Regulatory Authority (FINRA) Office of Hearing Officers according to an Order Accepting Offer of Settlement containing findings that the…
Howard Davis Brous, of Great Neck, New York, the former president and founder of defunct HD Brous, as a stockbroker currently registered with Wunderlich Securities, Inc., has been named in a customer initiated investment related arbitration claim on August 25, 2016, in which the customer requested $2,500,000.00 in damages based upon allegations that Brous breached…
Garland Wayne Benton Jr., of Richardson, Texas, a stockbroker formerly registered with Reef Securities, Inc., has been named in a customer initiated investment related arbitration claim on April 14, 2014, in which the customer requested $946,670.00 in damages based upon allegations that Benton engaged in unauthorized investment solicitations, breached his contractual duties, omitted facts concerning…
In July 2014, we wrote about the dismantling of the Pennsylvania Securities Commissioner, which was seen as an impediement to “capital formation” in the Keystone State. We called it: Securities Fraudsters: You have a friend in Pennsylvania. So here we go again. By way of background, each year in Pennsylvania, investors conservatively lose $3 billion as…
James Christopher Hayne, a stockbroker formerly registered with Cetera Advisors LLC, has been named in a customer initiated investment related arbitration claim on December 13, 2016, in which the customer requested $500,000.00 in damages based upon allegations that Hayne Hayne breached his fiduciary duties, effected stock trades on an excessive basis, failed to diversify the…
Joseph C. Noyes IV, a stockbroker formerly registered with Santander Securities LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Noyes falsified customer documents, and effected an annuity exchange which was not suitable for a customer. Letter of…
George Craig Merhoff Jr., a stockbroker currently registered with Cetera Advisors LLC, has been named in a customer initiated investment related arbitration claim on July 14, 2016, which is based upon allegations that Merhoff committed violations of securities laws in the State of Oregon, breached his fiduciary and contractual duties to the customer, effected unsuitable…
Lisa Ann Wolf, of Chicago, Illinois, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related arbitration claim, which settled on April 10, 2015 for $150,000.00 in damages based upon allegations that from July of 2008 to June of 2014, Wolf made misrepresentations and…
James William Flower, of Melville, New York, a stockbroker formerly registered with Laidlaw & Company (UK) Ltd., has been named in a customer initiated investment related written complaint, which settled on November 12, 2015 for $45,000.00 in damages based upon allegations that Flower effected unsuitable equity transactions and churned the customer’s investment account. Financial Industry…
Craig Lansing Hayward, of Lafayette, Colorado, a stockbroker currently registered with Mid Atlantic Capital Corporation, has been named in a customer initiated investment related arbitration claim on April 11, 2016, in which the customer requested $707,500.00 in damages based upon allegations that between 2007 and 2014, Hayward negligently handled the customer’s account, breached his fiduciary…
Mitchel Allan Foote, of Manhattan, Kansas, a stockbroker formerly registered with Broker Dealer Financial Services Corp., was named in a customer initiated investment related written complaint on May 12, 2014, in which the customer requested $30,000.00 in damages based upon allegations that Foote misrepresented an illiquid real estate security investment to a customer. FINRA Public…
Kevin Mark Nevin, of Saint Louis Park, Minnesota, a stockbroker formerly associated with VSR Financial Services, has been subject to a customer initiated investment related arbitration claim on September 30, 2016, in which the customer requested $50,000.00 in damages based upon allegations that Nevin breached his fiduciary and contractual relationship with the customer, effected unsuitable…
Eduardo Guillermo Diaz, of Biloxi, Mississippi, a former stockbroker formerly registered with Next Financial Group, Inc., has been subject to a customer initiated investment related arbitration action in which the customer received $250,000.00 in damages based upon allegations that Diaz made misrepresentations to the customer concerning investments, failed to provide the customer with information concerning…
Leslie R. “Butch” Cabrinha, a stockbroker currently registered with Centaurus Financial, Inc., has been subject to a customer initiated investment related arbitration claim on May 16, 2014, which was settled for $75,000.00 in damages. The customer’s claim, which pertained to Cabrinha’s conduct, was based upon allegations that the branch manager failed to supervise one of…
John S. Cangialosi, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., has been subject to a customer initiated investment related arbitration claim from November 20, 2015, which was settled for $9,999.00 in damages based upon allegations that Cangialosi made misrepresentations to the customer concerning investments, effected unsuitable investments in the…
Donald Bartelt, of West Palm Beach, Florida, a stockbroker formerly registered with Newport Coast Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per a FINRA Office of Hearing Officers’ Default Decision containing findings that Bartelt effected unsuitable trades and churned customer accounts. Department of Enforcement…
Antonio Costanzo, of West Palm Beach, Florida, a stockbroker formerly registered with Newport Coast Securities, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon a Default Decision containing findings that Costanzo made unsuitable investment recommendations to customers, effected unsuitable trades, churned customer accounts, and failed…
Wade Lawrence, of Dallas, Texas, a stockbroker formerly registered with Southwest Securities, Inc., was charged by The United States Securities and Exchange Commission (SEC) in a Complaint alleging that Lawrence defrauded customers and breached his fiduciary obligations by way of Lawrence’s unauthorized trades and misrepresentations. Securities and Exchange Commission v. Wade James Lawrence, Case No….
Michael McMahon, of Westbury, New York, a stockbroker with National Securities Corporation, is presently subject to eight customer initiated investment related arbitration claims alleging fraud. The customer disputes, which appear to have been lodged between July 20, 2015, and June 20, 2016, all contain allegations that McMahon made negligent misrepresentations to customers, breached his fiduciary to…
Richard J. Reynolds, of Minneapolis, Minnesota, a stockbroker with Northland Securities, is currently subject to a pending customer dispute from August 22, 2014, in which the customer has requested $680,935.80 in damages in connection with allegations against Reynolds of committing securities fraud, breach of contract, and breach of his fiduciary duty to the customer pertaining…
Terry W. Chilton, of Beaumont, Texas, a stockbroker with IMS Securities, Inc., is subject to a customer dispute from March 7, 2016, in which a customer alleged that Chilton made misrepresentations concerning investments, and engaged in the unsuitable recommendations. FINRA Public Disclosure records also reveal that on September 16, 2013, a customer was awarded $1,172,250.00…
Sean W. Mollard, of Boca Raton, Florida, a stockbroker for Dawson James Securities, Inc., became subject to a pending customer dispute from March 31, 2016, in which a customer requested $1,000,000.00 in damages after alleging that Mollard made material misrepresentations regarding investments, charged excessive commissions to the customer, engaged in excessive trading, failed to abide…
David M. Levy, of West Palm Beach, Florida, a stockbroker with Newport Coast Securities, is currently subject to a pending customer dispute. Particularly, on November 3, 2014, a customer requested $60,000.00 in damages in connection with allegations against Levy of churning the customer’s investment account. FINRA’s BrokerCheck reveals that Levy has been subject to thirteen…
Andrew B. Kramer, of Brooklyn, New York, a stockbroker registered with Capital Securities Management, Inc., is subject to two pending customer disputes. Particularly, on November 16, 2015, customers lodged a complaint against Kramer, in which $27,000.00 in damages were requested in connection with allegations that Kramer’s lack of attentiveness to the customers’ accounts resulted in…
John R. Stevens, of Grand Junction, Colorado, is subject to several customer disputes. On February 18, 2016, Stevens became subject to a pending customer dispute, in which the customer requested $300,000.00 after alleging that Stevens had misrepresented aspects of a variable annuity, causing the customer to bear investment losses. On February 5, 2016, another customer…
Winston Wade Turner of Sarasota, Florida, a registered representative with Pruco Securities, LLC, and MetLife Securities, Inc., was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per a FINRA Office of Hearing Officers Default Decision containing findings that Turner committed fraud pertaining to customers’ variable annuity purchases, partook in unauthorized…
Dion R. Padilla, of San Antonio, Texas, a stockbroker with Next Financial Group, Inc., was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that that Padilla engaged in willful securities fraud and effected an unauthorized annuity purchase. Department of Enforcement v. Padilla, No. 2014040362001 (June 9, 2016). According to…
David C. Cannata, of Uniondale, New York, a stockbroker with Craig Scott Capital, LLC, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per a Default Decision containing findings that he engaged in excessive trading and churning, and failed to cooperate in a FINRA investigation into his misconduct. Department…
Lawson Financial Corporation, as well as Robert Lawson (the firm’s president, chief compliance officer, and chief executive officer), and Pamela Lawson (the firm’s owner and chief operating officer) were charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging securities fraud in the sale municipal revenue bonds. Department of Enforcement v….
Terry L. Haggerty, of Kenosha, Wisconsin, president and chief executive officer of Penvest Securities, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in securities fraud; and failed to supervise his and his firm’s trading conduct to prevent fraudulent trading…
Leonard Allen Goldberg, of Palm Springs, California, a stockbroker with Newport Coast Securities, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Order Accepting Offer of Settlement containing findings that Goldberg engaged in unsuitable and fraudulent trading of funds in customer accounts. Department of Enforcement…
Winston Wade Turner, of Sarasota, Florida, a registered representative with Pruco Securities, LLC, and MetLife Securities, Inc., was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Tuner committed fraud in connection with customers’ variable annuity purchases, participated in unauthorized private securities transactions, and failed to cooperate with a…
David Joseph Escarcega, of Phoenix, Arizona, a stockbroker with Center Street Securities, Inc., was barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity in connection with a FINRA Office of Hearing Officers Extended Hearing Panel Decision containing findings that Escarcega communicated misleading and materially false statements to customers, and…
George Johnson, of Chicago, Illinois, a stockbroker for Meyers Associates, L.P., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity in connection with an Order Accepting Offer of Settlement containing findings that Johnson committed fraudulent market manipulation; fraudulent omission of material conflicts concerning purchases/sales of a security;…
Jason Bryce Vanclef fist became registered with the Financial Industry Regulatory Authority in 2006, and since that time, he has been the subject of no less that seven customer initiated investment related complaints alleging fraud, and most recently on February 6, 2016, a FINRA regulatory action also alleging fraud in connection with the sale of…
Jason L. Reid of New York, NY, a registered representative with Halcyon Cabot Partners, Ltd., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities after consenting to findings that he sold securities by means of false and misleading information; acted as a principal and engaged in…
The National Adjudicatory Council for the Financial Industry Regulatory Authority (FINRA) just upheld a Hearing Panel Decision to bar Fuad Ahmed from associating with any FINRA member firm in any capacity as well as upholding the expulsion of his firm, Success Trade Securities, after finding that the respondents willfully engaged in securities fraud and selling…
Anthony Warren Thompson, chief executive officer and sole member of Thompson National Properties, LLC (of which TNP Securities was a wholly owned subsidiary), was permanently barred by the Financial Industry Regulatory Authority and forced to pay restitution to investors on terms addressed in a Extended Hearing Panel Decision containing findings that Thompson made material omissions…
Simon Xi, a registered representative with Bedrok Securities was permanently barred from associating with a Financial Industry Regulatory Authority member in any capacity after consenting to Financial Industry Regulatory Authority’s findings that he had recklessly or knowingly made false statements of material facts to customers purchasing or selling fixed-income securities. Letter of Acceptance, Waiver, and…
Carolina Financial Services, a FINRA member since 1997 headquartered in Brevard, North Carolina, engages in private placement offerings via 15 registered reps operating out of 4 locations. The firm and Bruce Victor Roberts (the firm’s founder, CEO, and COO) were charged by FINRA’s Department of Enforcement in a Complaint alleging fraudulent misrepresentations and omissions in…
Meyers Associates, L.P., a FINRA member since 1994 headquartered in New York, NY, engages in general securities business via 70 registered reps operating out of 12 branch offices. The firm, along with George Johnson (investment banking representative), Christopher Wynne (general securities principal), and Mahalick (general securities and investment banking representative), were charged by FINRA’s Department…
The Securities and Exchange Commission brought an action against Bennett Group and its founder Dawn J. Bennett for federal securities fraud. Bennett and most employee associated with the Bennett Group are registered representatives of with Western International Securities, Inc. According to the SEC’s allegations, Bennett, made material misstatements and omissions regarding assets that were purportedly…
Next to stealing a customer’s investments, the next best thing is to sell the customer a promissory note. A promissory note, more commonly known in this context as an IOU, is a promise to pay typically interest and principal by a date certain, subject of course to the creditworthiness of the issuer. Promissory Notes According…
General securities representatives Timothy Stephen Dembski and Walter Francis Grenda Jr., both former employees with Mid Atlantic Capital Corporation (“MACC”) in Cheektowaga, NY, were charged by FINRA’s Department of Enforcement in a Complaint containing allegations that the individuals engaged in fraudulent misrepresentations and omissions in violation of Section 10(b) of the Securities Exchange Act of…
Red River Securities, LLC., a FINRA member firm from December 8, 2009, from March 5, 2014, operating out of Dallas, TX, employed roughly 14 registered representatives in its broker/dealer capacity. The Firm, along with it’s CEO Brian Keith Hardwick, were charged by FINRA’s Department of Enforcement in a Complaint alleging a myriad of significant violations…
Equinox Securities, a FINRA registered broker-dealer since April 2008 headquartered in Redlands, CA, offers general securities to the public via 27 FINRA registered representatives. The Firm, along with President/CCO Stephen Michael Oliveira, and registered representative Chris Blaine Palkowitsh, were charged by FINRA Department of Enforcement in a Complaint containing allegations that Palkowitsh and Equinox excessively…
FINRA finally acts on what we knew all along. On September 27, 2011, the Financial Industry Regulatory Authority (FINRA) obtained by Acceptance Waiver & Consent (AWC), a permanent bar against former Wachovia Securities, L.L.C. and Wells Fargo Securities, L.L.C. stockbroker, Tom D. Hamsher. Hamsher was accused of making false statements in connection with the sale…
Nicodemo S. Scarfo, the 46-year-old son of imprisoned Philadelphia crime boss “Little Nicky” Scarfo, was arrested on Nov. 1 along with 13 associates and indicted on multiple counts of conspiracy, including securities fraud, money laundering, racketeering, wire fraud and obstruction of justice. The charges relate to the alleged extortionate takeover of a publicly traded financial…
Maureen Sloan, 63, of Newport Beach, Calif., claims former LPL Financial L.L.C. broker Alberto Neira stole $4.5 million from her through a fraudulent auto-financing scheme called Silver Oak Leasing. Ms. Sloan said she lost another $4 million in unsuitable trading of preferred stock. Ms. Sloan is the granddaughter of Walter Knott, founder of the Buena…
Each year in Pennsylvania investors conservatively lose $3 billion as the result of securities fraud, Ponzi schemes and the sale of unregistered securities. Among the 50 states that are part of the North American Securities Administration Association, Pennsylvania is and always has been lowest on the list in terms of enforcement actions. Notwithstanding three lawyers,…
Former executives of ChinaCast Education Corp. (CAST) (“ChinaCast” or the “Company”) have been sued by the U.S. Securities Exchange Commission (the “SEC”) for securities fraud and insider trading. Chan Tze Ngon & Jiang Xiangyuan Sued by SEC The action, which was filed in the U.S. District Court for the Southern District of New York, was…
FINRA enforcement actions are rare because generally the offending broker or brokerage firms settles allegations of misconduct before a formal enforcement action is brought by entering into a Letter of Acceptance, Waiver and Consent or AWC, where offending broker or brokerage firm consents or admits to a narrow finding of facts, pays fines or penalties,…
A report released today by the Stanford Law School Securities Class Action Clearinghouse in cooperation with Cornerstone Research finds the number of securities fraud class actions filed in 2005 decreased more than 17 percent compared to 2004 levels, falling from 213 filings to 176. The 2005 filing rate is nearly 10 percent below the 1996 -…
A federal judge in Los Angeles has ordered Stanley C. Brooks, the former CEO of Brookstreet Securities Corp., to pay the maximum civil penalty of $10 million in a securities fraud case that goes back to the financial crisis, the Securities and Exchange Commission (SEC) announced on March 2. According to the docket, Judge David…
Penny stock promoter First Resource Group LLC and its principal David H. Stern were charged with three counts of fraud by the Securities and Exchange Commission (SEC) in a complaint filed on Jan. 26. The SEC Complaint Stern and his Florida company fraudulently manipulated the market for the stock of two small, thinly traded companies,…
The United States Securities and Exchange Commission announced that Wells Fargo Securities LLC consented to an $11.2 million fine in connection with the sale of collateralized debt obligations (CDOs) in late 2006 and early 2007. The SEC found that Wachovia Capital Markets violated the securities laws by fraudulently charging undisclosed and excessive markups in the…
Philadelphia, PA (MarketWire) November 6, 2008 –The Guiliano Law Group, P.C., a leading securities lawyer firm in Philadelphia, Pennsylvania announced today it is actively investigating and pursuing securities fraud claims against certain securities broker-dealers resulting from the risky or unsuitable recommendation of securities. Investment trusts, labor unions, pension funds, local municipalities, school boards and charitable…
Pruco Securities, LLC (CRD #5685, Newark, New Jersey) and Prudential Investment Management Services LLC (CRD #18353, Newark, New Jersey) submitted a Letter of Acceptance, Waiver and Consent in which they were censured, fined $525,000, jointly and severally, and required to conduct an audit and prepare written findings regarding their compliance with NASD rules relating to…