Securities Fraud

Archive | Securities Fraud

SEC Bars Cadaret Grant Stockbroker In $17 Million Ponzi Scheme

June 12, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Ponzi Schemes, Securities Fraud   |   Comments Off on SEC Bars Cadaret Grant Stockbroker In $17 Million Ponzi Scheme

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 […]

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Investors Bring FINRA Arbitration Against First Allied Securities For Fraud

May 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Securities Arbitration Claims, Securities Fraud, Selling Away and Outside Activities   |   Comments Off on Investors Bring FINRA Arbitration Against First Allied Securities For Fraud

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 […]

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FINRA Bars Torch Securities Stockbroker In Investigation

April 18, 2021  |   Posted by :   |   Investment and Regulatory News, Securities Fraud, Unsuitable Investment Recommendations   |   Comments Off on FINRA Bars Torch Securities Stockbroker In Investigation

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 […]

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Investors Accuse Merrill Lynch Of Misrepresentation

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Securities Fraud   |   Comments Off on Investors Accuse Merrill Lynch Of Misrepresentation

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 […]

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Raymond James Stockbroker Charged By SEC With Fraud

March 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds, Securities Fraud, Stockbroker Theft   |   Comments Off on Raymond James Stockbroker Charged By SEC With Fraud

Mark Joseph Boucher of Carlsbad California a former stockbroker of Raymond James Financial Services and former investment adviser representative of SCF Investment Advisors Inc. has been charged by Securities and Exchange Commission (SEC) with engaging in a fraudulent scheme during the period that he controlled Strategic Wealth Advisors Group (SWAG). Securities and Exchange Commission v. […]

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Investors File FINRA Arbitration Claim Against Newbridge For Unsuitable Trading

March 18, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Securities Fraud, Unsuitable Investment Recommendations   |   Comments Off on Investors File FINRA Arbitration Claim Against Newbridge For Unsuitable Trading

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 […]

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Traderfield Securities Sued By Investors For Fraud

February 16, 2021  |   Posted by :   |   Investment and Regulatory News, Securities Fraud   |   Comments Off on Traderfield Securities Sued By Investors For Fraud

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 […]

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Investors Sue Worden Capital Management For Fraud

February 16, 2021  |   Posted by :   |   Boilerroom Sales, FINRA Securities Arbitration, Investment and Regulatory News, Securities Fraud   |   Comments Off on Investors Sue Worden Capital Management For Fraud

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. […]

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Hornor Townsend Stockbroker Caught Selling Away Brother’s Ponzi Scheme

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

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

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Concorde CEO Charged With Securities Fraud

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

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

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Ausdal Financial Accused Of Unsuitable Investment Recommendations

January 03, 2021  |   Posted by :   |   Investment and Regulatory News, Ponzi Schemes, Securities Fraud, Unsuitable Investment Recommendations   |   Comments Off on Ausdal Financial Accused Of Unsuitable Investment Recommendations

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 […]

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Investors File Arbitration Claim Against Sue Lek Securities For Stockbroker Theft

December 22, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Securities Fraud   |   Comments Off on Investors File Arbitration Claim Against Sue Lek Securities For Stockbroker Theft

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 […]

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Hoplon Financial Charged By SEC With Securities Fraud

December 22, 2020  |   Posted by :   |   Investment and Regulatory News, Securities Fraud   |   Comments Off on Hoplon Financial Charged By SEC With Securities Fraud

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 […]

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FINRA Bars Arive Stockbroker For Failure To Pay Arbitration Award

December 07, 2020  |   Posted by :   |   Boilerroom Sales, FINRA Securities Arbitration, Investment and Regulatory News, Securities Fraud, Stockbroker Negligence   |   Comments Off on FINRA Bars Arive Stockbroker For Failure To Pay Arbitration Award

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 […]

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SEC Bars Portfolio Advisors Alliance President For Fraud

December 07, 2020  |   Posted by :   |   Investment and Regulatory News, Securities Fraud   |   Comments Off on SEC Bars Portfolio Advisors Alliance President For Fraud

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 […]

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Investors File Arbitration Claim Against Merrill Lynch For Bad Investment Advice

December 01, 2020  |   Posted by :   |   Securities Arbitration Claims, Securities Fraud   |   Comments Off on Investors File Arbitration Claim Against Merrill Lynch For Bad Investment Advice

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 […]

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FINRA Sanctions Wells Fargo For Providing Customers Fraudulent REIT Values

December 01, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Securities Fraud   |   Comments Off on FINRA Sanctions Wells Fargo For Providing Customers Fraudulent REIT Values

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 […]

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Blue Sand Terminates Stockbroker For Alleged Fraud

December 01, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Securities Fraud   |   Comments Off on Blue Sand Terminates Stockbroker For Alleged Fraud

Patrick Brian Horsman of Bay Harbor Islands Florida a stockbroker registered with Blue Sand Securities LLC has been terminated by the securities broker dealer on October 9, 2020 based upon allegations of fraud and misrepresentation as well as unjust enrichment by the stockbroker as referenced in a compliant. Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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FINRA Arbitration Panel $1.8 million Award Against Northeast Securities

December 01, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Securities Fraud   |   Comments Off on FINRA Arbitration Panel $1.8 million Award Against Northeast Securities

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. […]

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Investors Bring FINRA Arbitration Claim Against Westpark Capital For Fraud

November 30, 2020  |   Posted by :   |   Boilerroom Sales, Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Securities Arbitration Claims, Securities Fraud   |   Comments Off on Investors Bring FINRA Arbitration Claim Against Westpark Capital For Fraud

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 […]

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FINRA Bars Cambridge Stockbroker In Wire Fraud Investigation

November 30, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds, Securities Fraud, Stockbroker Theft   |   Comments Off on FINRA Bars Cambridge Stockbroker In Wire Fraud Investigation

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 […]

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Wells Fargo Advisors Accused Of Mutual Fund Fraud

November 30, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Mutual Fund Fraud, Securities Fraud   |   Comments Off on Wells Fargo Advisors Accused Of Mutual Fund Fraud

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 […]

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Moloney Securities Stockbroker Caught Selling Away

November 30, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Securities Arbitration Claims, Securities Fraud, Selling Away and Outside Activities   |   Comments Off on Moloney Securities Stockbroker Caught Selling Away

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 […]

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

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

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

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Investors Accuse LPL Financial Of Fraudulent REIT Sales

November 30, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Securities Fraud   |   Comments Off on Investors Accuse LPL Financial Of Fraudulent REIT Sales

Cynthia Ann Giovacchino of Ansonia Connecticut a stockbroker formerly registered with LPL Financial LLC has been referenced in a customer initiated investment related complaint which was resolved on April 20, 2020 for $63,713.96 in damages supported by allegations that the customer had been sold unsuitable real estate investment trusts by Giovacchino. According to the complaint, […]

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Investors Bring FINRA Arbitration Claim Against First Allied Securities

November 30, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Securities Arbitration Claims, Securities Fraud   |   Comments Off on Investors Bring FINRA Arbitration Claim Against First Allied Securities

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 […]

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Larson Financial Securities Accused Of The Recommendationof Unsuitable Investments

November 30, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Securities Fraud, Unsuitable Investment Recommendations, Variable Annuites   |   Comments Off on Larson Financial Securities Accused Of The Recommendationof Unsuitable Investments

Jeffrey Scott Larson of Saint Louis Missouri a stockbroker formerly registered with Larson Financial Securities LLC is the subject of a customer initiated investment related written complaint on September 15, 2020 where the customer requested more than $10,000.00 in estimated damages founded on allegations that the customer had been inappropriately placed into a variable life […]

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

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

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

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Gould Ambroson Sued By Investors For Fraud

November 04, 2020  |   Posted by :   |   Securities Arbitration Claims, Securities Fraud, Unsuitable Investment Recommendations   |   Comments Off on Gould Ambroson Sued By Investors For Fraud

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 […]

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Investors Bring FINRA Arbitration Claim Against National Securities For Unauthorized Trading

November 04, 2020  |   Posted by :   |   Securities Arbitration Claims, Securities Fraud, Unauthorized Trading   |   Comments Off on Investors Bring FINRA Arbitration Claim Against National Securities For Unauthorized Trading

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 […]

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