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…
Leslie Benjamin Goldstein (also known as Les Benjamin Goldstein) of Park Ridge Illinois a stockbroker formerly registered with Securities America Inc. is the subject of a customer initiated investment related complaint on December 24, 2018 where the customer sought more than $5,000.00 in estimated damages based upon accusations of the customer not being apprised by…
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…
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,…
Barry Graham Armstrong, of Needham, Massachusetts, a stockbroker currently registered with Securities America, Inc., is the subject of a customer initiated investment related written complaint on June 13, 2017, in which the customer requested $51,146.20 in damages based upon allegations that the customer’s accounts were poorly managed. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals…
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…
Paul Avila Neves, of San Diego, California, a stockbroker currently associated with Securities America, Inc., has been named in a customer initiated investment related arbitration claim on November 13, 2015, in which the customer requested $800,000.00 in damages based upon allegations that Neves effected sales of unsuitable and unregistered real estate securities, violated California’s Securities…
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…