Securities Fraud

Archive | Securities Fraud

SEC Obtains Judgement Against LPL Stockbroker For Fraud

September 01, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Securities Fraud, Stockbroker Theft   |   Comments Off on SEC Obtains Judgement Against LPL Stockbroker For Fraud

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 […]

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SEC Affirms FINRA Bar Of Rogue Stockbroker For Churning

August 26, 2021  |   Posted by :   |   Churning, Investment and Regulatory News, Securities Fraud   |   Comments Off on SEC Affirms FINRA Bar Of Rogue Stockbroker For Churning

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 […]

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SEC Bars Tweed Financial Services Owner For Misrepresentation

August 26, 2021  |   Posted by :   |   Hedge Funds, Investment and Regulatory News, Securities Fraud   |   Comments Off on SEC Bars Tweed Financial Services Owner For Misrepresentation

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 […]

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America Northcoast Stockbroker Barred In ETF Scam

August 15, 2021  |   Posted by :   |   Failure To Supervise, Inverse/Leveraged ETF Funds, Investment and Regulatory News, Securities Fraud, Unauthorized Trading, Unsuitable Investment Recommendations   |   Comments Off on America Northcoast Stockbroker Barred In ETF Scam

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 […]

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Money Concepts Capital Corp Stockbroker Sanctioned By Regulator

August 15, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Securities Fraud, Selling Away and Outside Activities   |   Comments Off on Money Concepts Capital Corp Stockbroker Sanctioned By Regulator

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 […]

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FCG Advisors Stockbroker Barred In Fraudulent Scheme

August 15, 2021  |   Posted by :   |   Investment and Regulatory News, Securities Fraud, Stockbroker Theft   |   Comments Off on FCG Advisors Stockbroker Barred In Fraudulent Scheme

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 […]

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Fortune Financial Services Stockbroker Charged With Fraud

August 06, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Promissory Notes, Securities Fraud, Selling Away and Outside Activities   |   Comments Off on Fortune Financial Services Stockbroker Charged With Fraud

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 […]

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SEC Charges LPL Stockbroker With Fraud

July 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Misappropriation of Funds, Securities Fraud, Stockbroker Theft   |   Comments Off on SEC Charges LPL Stockbroker With Fraud

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 […]

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Following SEC Action Investors Accuse Royal Alliance Of Investment Fraud

July 12, 2021  |   Posted by :   |   Investment and Regulatory News, Misappropriation of Funds, Securities Fraud   |   Comments Off on Following SEC Action Investors Accuse Royal Alliance Of Investment Fraud

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 […]

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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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