Securities Fraud

Archive | Securities Fraud

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 […]

Read More »

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 […]

Read More »

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 […]

Read More »

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 […]

Read More »

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 […]

Read More »

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 […]

Read More »

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 […]

Read More »

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 […]

Read More »

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. […]

Read More »

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 […]

Read More »

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 […]

Read More »

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 […]

Read More »

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 […]

Read More »

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 […]

Read More »

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, […]

Read More »

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 […]

Read More »

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 […]

Read More »

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 […]

Read More »

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 […]

Read More »

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 […]

Read More »

FINRA Bars NPB Stockbroker For Fraudulent REIT Sales

November 04, 2020  |   Posted by :   |   Non-traded REITs, Securities Arbitration Claims, Securities Fraud, Unsuitable Investment Recommendations   |   Comments Off on FINRA Bars NPB Stockbroker For Fraudulent REIT Sales

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 […]

Read More »

America Northcoast CCO Barred For Aiding Stockbroker’s Fraud

November 04, 2020  |   Posted by :   |   Inverse/Leveraged ETF Funds, Securities Arbitration Claims, Securities Fraud, Unauthorized Trading, Unsuitable Investment Recommendations   |   Comments Off on America Northcoast CCO Barred For Aiding Stockbroker’s Fraud

Christopher Richard Barone of Houston Texas the President and Chief Compliance Officer of America Northcoast Securities Inc. has been fined $60,000.00 and barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative or otherwise associating with securities broker dealers or investment advisories based upon findings that Barone caused unsuitable and […]

Read More »

FINRA Bars Consulting Services Chief Executive Officer For Fraud

October 08, 2020  |   Posted by :   |   Securities Arbitration Claims, Securities Fraud   |   Comments Off on FINRA Bars Consulting Services Chief Executive Officer For Fraud

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 […]

Read More »

Investors Accuse First Allied Securities Of Fraud

October 08, 2020  |   Posted by :   |   Breach of Fiduciary Duty, Securities Arbitration Claims, Securities Fraud, Stockbroker Negligence   |   Comments Off on Investors Accuse First Allied Securities Of Fraud

Dennis Patrick Thurman of Sioux Falls South Dakota a stockbroker registered with First Allied Securities and investment adviser representative of Arete Wealth Management LLC is identified in a customer initiated investment related complaint on March 15, 2019 in which the customer sought $11,997.97 in damages supported by accusations that a contract had been breached and […]

Read More »

More Investor Claims Against Shuttered Boilerroom First Standard Securities

October 08, 2020  |   Posted by :   |   Boilerroom Sales, Securities Arbitration Claims, Securities Fraud, Unauthorized Trading   |   Comments Off on More Investor Claims Against Shuttered Boilerroom First Standard Securities

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 […]

Read More »

Investors Bring FINRA Arbitration Claims Against Securities America For Fraud

October 08, 2020  |   Posted by :   |   Breach of Fiduciary Duty, Securities Arbitration Claims, Securities Fraud   |   Comments Off on Investors Bring FINRA Arbitration Claims Against Securities America For Fraud

Jan Thomas Mohamed of Dallas Texas a stockbroker formerly registered with Securities America is referenced in a customer initiated investment related civil action brought in the District Court of Dallas County Texas in which the customer sought more than $5,000.00 in damages based upon accusations that deceptive and fraudulent insurance transactions were effected by the […]

Read More »

Investors Bring Arbitration Claims Against Center Street Securities Related to Convicted Stockbroker

October 08, 2020  |   Posted by :   |   Alternative Investments, Misappropriation of Funds, Securities Arbitration Claims, Securities Fraud, Stockbroker Theft, Unsuitable Investment Recommendations   |   Comments Off on Investors Bring Arbitration Claims Against Center Street Securities Related to Convicted Stockbroker

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 […]

Read More »

FINRA Bars WestPark Stockbroker In Fraudulent Promissory Note Scheme

September 30, 2020  |   Posted by :   |   Failure to Conduct Due Diligence, FINRA Securities Arbitration, Promissory Notes, Securities Arbitration Claims, Securities Fraud   |   Comments Off on FINRA Bars WestPark Stockbroker In Fraudulent Promissory Note Scheme

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 […]

Read More »

Dawson James Sued By Investors For UDF Fraud

September 30, 2020  |   Posted by :   |   Non-traded REITs, Securities Arbitration Claims, Securities Fraud, Unsuitable Investment Recommendations   |   Comments Off on Dawson James Sued By Investors For UDF Fraud

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 […]

Read More »

SCF Securities Sued By Investors For Fraud

September 30, 2020  |   Posted by :   |   Breach of Fiduciary Duty, Securities Arbitration Claims, Securities Fraud   |   Comments Off on SCF Securities Sued By Investors For Fraud

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 […]

Read More »