Daniel B. Chancellor (also known as Dan Chancellor), of Evansville, Indiana, a stockbroker registered with Securities America Inc., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled to resolve allegations that Chancellor breached his fiduciary duties, made unsuitable investment recommendations, was negligent, and violated…
Larry Christos Sfinas, of Southampton, Pennsylvania, a stockbroker registered with Securities America Inc., was the subject of a customer initiated investment related complaint that was settled on July 22, 2022, to resolve allegations that Sfinas made unsuitable investment recommendations in stocks during the time that Sfinas was associated with Securities America Inc. This is not…
Michael Stephen Myers of Portland, Oregon, a stockbroker registered with LPL Financial LLC, was the subject of a customer initiated investment related complaint that was settled on August 9, 2022, for $15,000.00 in damages based upon allegations that Myers made unsuitable investment recommendations resulting in adverse tax consequences to the customer when Myers was associated…
David Earl Kimbler of Ferndale, Washington, a stockbroker registered with Securities America Inc., was the subject of a customer initiated investment related complaint filed on November 14, 2022, in which the customer requested compensation based upon allegations that Kimbler withdrew customer funds without authorization and engaged in unauthorized trading during the time that Kimbler was…
David Earl Kimbler of Ferndale, Washington, a stockbroker registered with Securities America Inc., was the subject of a customer initiated investment related complaint filed on November 14, 2022, in which the customer requested compensation based upon allegations that Kimbler engaged in unauthorized trading and withdrew funds without authorization when Kimbler was associated with Securities America…
Hector Anthony May of New City, New York, a stockbroker registered with Securities America Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $9,500,000.00 in damages based upon allegations that May converted funds, committed fraud, made omissions of material fact, breached his fiduciary duties, and was…
Sanjay Bhargava of Independence, Ohio, a stockbroker formerly registered with Securities America Inc., has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Bhargava took part in private securities transactions during the time that he was employed by Securities…
Matthew Howard Smith of Clifton Park, New York, a stockbroker formerly registered with Securities America Inc., has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement with failing to cooperate with investigators in regard to the reason for his termination as a stockbroker from Securities America. Department of Enforcement v. Matthew Smith, Disciplinary…
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…
Dale Allen Ramsperger of Scottsdale Arizona a stockbroker formerly registered with Securities America Inc. has been suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Ramsperger took part in private securities transactions that were not authorized by Securities America Inc. Letter of Acceptance…
William Herman Dixon (also known as Bill Dixon) of Charlotte North Carolina a stockbroker formerly registered with Securities America Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he obstructed FINRA’s investigation into his potential use of fake customer signatures. Letter of Acceptance…
David Brian Zuber (also known as David Brown Zuber) of LaVista Nebraska a stockbroker formerly registered with Securities America Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he failed to comply with a FINRA investigation concerning private securities transactions and outside business…
Jaime Michael Westenbarger of Grand Rapids Michigan a stockbroker formerly registered with Securities America Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $100,000.00 in damages supported by accusations of the breach of both a contract and fiduciary duty by the stockbroker in reference to real…
Curtis Brian Wilson of Tulsa Oklahoma a stockbroker currently registered with Securities America Inc. and an investment adviser representative of Beam Asset Management LLC is referenced in a customer initiated investment related written complaint which was resolved for $25,000.00 in damages on October 19, 2020 based upon allegations that trades were not executed in a…
Scott Michael Barber of Dubois Pennsylvania a former stockbroker and investment adviser representative of Cetera Advisor Networks LLC is the subject of a customer initiated investment related written complaint on October 30, 2020 in which the customer requested $130,000.00 in damages supported by allegations that real estate security transactions executed in the customer’s Cetera Advisor…
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…
Eric Wesley Thronson of Owatonna Minnesota a stockbroker formerly associated with Securities America has been referenced in a customer initiated investment related written complaint on December 9, 2019 in which the customer requested more than $5,000.00 in estimated compensatory damages supported by allegations that the customer’s account had been invested in an unsuitable manner because…
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…
William Herman Dixon of Charlotte North Carolina a stockbroker registered with Securities America Inc. has been discharged on September 16, 2019 supported by allegations of Dixon causing customer signatures to be forged on documents to effect transactions for customer accounts in violation of the procedures or policies enforced by the securities broker dealer. Financial Industry…
Jaime Michael Westenbarger of Grand Rapids Michigan a stockbroker formerly registered with Securities America Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Westenbarger failed to comply with FINRA during an investigation into accusations of him borrowing funds from customers of Securities America….
Bobby Wayne Coburn of Fort Meade Florida a stockbroker formerly registered with Securities America Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that (1) Coburn failed to cooperate with a FINRA investigation into allegations of him selling away from Securities America and (2)…
Cary Edward Scheer of Southlake Texas a stockbroker formerly employed by Securities America Inc. has been discharged by the firm on January 18, 2018 founded on allegations that (1) the firm received no cooperation from Scheer during the time he was probed internally by Securities America Inc. for potential infractions of company policies or industry…
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…
Michael Anthony Bastardi of Warwick New York a stockbroker formerly employed by Securities America Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Bastardi failed to cooperate with a FINRA investigation into allegations that Bastardi hindered a FINRA investigation concerning accusations that (1)…
Richard Barry Haynes of Columbus Georgia a stockbroker formerly registered with Securities America Inc. is referenced in a customer initiated investment related written complaint on September 13, 2018 where the customer sought $13,180.00 in damages founded on allegations that the customer’s funds had been inappropriately allocated in speculative equities investments which led the customer to…
Michael Dennis Jackson of University Place Washington a stockbroker formerly registered with Securities America Inc. has been fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Jackson engaged in selling away (2) Jackson effected unauthorized trades in…
Securities America Inc. a brokerage firm headquartered in La Vista, Nebraska, has been censured and fined $175,000.00 by Financial Industry Regulatory Authority (FINRA) based upon the firm’s consent to findings that it failed to supervise variable annuity recommendations made by the registered representatives of the firm. Letter of Acceptance Waiver and Consent No. 2016048243101 (Sept….
Karl Thomas Crytser of Trenton New Jersey a stockbroker formerly registered with National Planning Corporation is referenced in a customer initiated investment related written complaint on August 25, 2015 in which the customer requested $27,000.00 in damages based upon allegations that (1) unsuitable mutual fund trades were effected in the customer’s account (2) transactions were…
Gary Stephen Radler of West Hartford Connecticut a stockbroker formerly employed by National Planning Corporation is referenced in a customer initiated investment related civil action which was resolved for $272,000.00 in damages supported by accusations that misrepresentations had been made to the customers concerning the collateralization and other terms and conditions of life insurance policies…
Richard Norman Fichter Jr. of Williamstown New York a stockbroker currently registered with Securities America Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested damages estimated to exceed $5,000.00 based upon accusations that one of the customers alleged that Fichter negligently serviced the customer’s investment portfolio of stock…
Hector May of New City, New York, a registered representative of Securities America was named in a customer initiated, investment related claim that May stole more than $3.4 million from at least nine of his public customers by misappropriating their assets in a Ponzi-style scheme. May operated a “franchise” branch office of Securities America conducting…
More than forty-five public investors filed a $5.8 million dollar securities arbitration claim against Securities America in connection with a Ponzi scheme effected by one of its registered representatives, conducting business and registered under the name of Allen Lee Hengst. The securities arbitration panel, then back in 2001 known as the NASD, or National Association…
Joel Howard Weber of Saint Cloud Minnesota a stockbroker formerly registered with SII Investments, Inc. is the subject of a customer initiated investment related written complaint on April 2, 2018 where the customer requested $69,220.00 in damages based upon accusations that misrepresentations had been made to the customer concerning a variable annuity income benefit. Financial…
Hector Anthony May of New City New York a stockbroker formerly registered with Securities America Inc. has been terminated on March 9, 2018 based upon allegations that May misappropriated assets belonging to one of the firm’s customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure further confirms that on March 8, 2018, May became subject of…
Joseph Rawley Stowell Jr, of Peoria Heights, a stockbroker formerly registered with Securities America, Inc., is the subject of a customer initiated investment related written complaint on November 9, 2016, in which the customer sought $77,000.00 in damages founded on accusations that Stowell poorly advised the customer about investing in mutual funds and stocks, causing…
James Michael Kennedy, of Chicago, Illinois, a stockbroker formerly registered with Saxony Securities, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected trades in a customer’s account without authorization. Letter of Acceptance, Waiver and Consent, No. 2015047306901…
Michael Anton Crowe, of Mesa, Arizona, a stockbroker formerly registered with Securities America, Inc., 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 he sold away from his firm. Letter of Acceptance, Waiver and Consent, No. 2016051678001 (Oct. 2,…
Timothy David Ballard, of Livermore, California, a stockbroker formerly registered with Securities America, Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he neglected to communicate with FINRA about his business activities. Letter No. 2016052555401 (May 12, 2017). FINRA Public Disclosure reveals that…
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…
Patricia Mary Loris, of Crystal Lake, Illinois, a stockbroker currently registered with Securities America, Inc., has been named in a customer initiated investment related arbitration claim on April 17, 2017, in which the customer requested $200,000.00 in damages based upon allegations that Loris breached her fiduciary and contractual duties to the customer, negligently handled the…
Mamta Rai, a stockbroker formerly registered with Valic Financial Advisors, Inc., has been named in a customer initiated investment related written complaint on April 27, 2016, in which the customer requested $45,000.00 in damages based upon allegations that Rai misrepresented the returns that the customer would be guaranteed pursuant to her variable annuity investment. Financial…
Matthew Aaron Bell, of San Antonio, Texas, a stockbroker formerly registered with WFG Investments, Inc., has been named in a customer initiated investment related written complaint, which settled on February 10, 2017, for $43,000.00 in damages based upon allegations that Bell made unsuitable investment recommendations to the customer regarding over-the-counter equity products. Financial Industry Regulatory…
Matthew A. Bell, of San Antonio Texas, a stockbroker formerly registered with Securities America, Inc., has been named in a customer initiated investment related arbitration claim on December 8, 2015, in which the customer requested $5,000.00 in damages based upon allegation that Bell breached his fiduciary duty to the customer and made investment recommendations which…
Stuart Horowitz, of Coral Springs, Florida, a stockbroker with Securities America, Inc., was fined $100,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and Consent, No. 2013036692001 (Feb….
Securities America, Inc., headquartered in Lavista, Nevada, was censured by the Financial Industry Regulatory Authority (FINRA) after consenting to findings that it overcharged customers regarding mutual funds purchases, and failed to implement adequate supervisory procedures to prevent the overcharging of customers. Letter of Acceptance, Waiver and Consent, No. 2015047269801(July 29, 2016). According to the AWC,…
Ameritas Investment Corp., Cetera Advisors LLC, Comerica Securities, Inc., Fifth Third Securities, Inc., First Allied Securities, Inc., Park Avenue Securities, LLC, Securities America, Inc., Huntington Investment Company, Cetera Advisor Networks LLC, Commonwealth Financial Network, MetLife, and Infinex Investment, Inc., were all recently censured and fined by Financial Industry Regulatory Authority (FINRA) for failing to apply…
Derek Lee Miller of Redondo Beach, CA, a former general securities representative with Securities America, Inc., was permanently barred from association with any FINRA-registered firm in all capacities after failing to appear for on-the-record testimony in connection with FINRA’s investigation into allegations that Miller engaged in unsuitable trading. FINRA Letter of Acceptance, Waiver and Consent,…
Barry Graham Armstrong from Needham Heights, MA, a financial advisor with Securities America, Inc. and Armstrong Advisory Group, were charged by the Enforcement Section of the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth in a Complaint alleging Armstrong had engaged in a misleading and dishonest advertising campaign in violation of…