Tag Archives: Securities America Inc.

Securities America Settles Failure To Execute Claim

January 03, 2021  |   Posted by :   |   Failure to Execute, Investment and Regulatory News   |   Comments Off on Securities America Settles Failure To Execute Claim

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 […]

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Investors Accuse Cetera Advisor Networks Of Unsuitable REIT Sales

December 22, 2020  |   Posted by :   |   Alternative Investments, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs   |   Comments Off on Investors Accuse Cetera Advisor Networks Of Unsuitable REIT Sales

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 […]

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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 […]

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Investors Sue Securities America For Over Rogue Stockbroker

September 14, 2020  |   Posted by :   |   Elder Financial Abuse, Excessive Trading, FINRA Securities Arbitration, Securities Arbitration Claims, Securities Fraud, Unauthorized Trading   |   Comments Off on Investors Sue Securities America For Over Rogue Stockbroker

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 […]

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Investors Bring Claims Against Securities America

July 29, 2020  |   Posted by :   |   Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on Investors Bring Claims Against Securities America

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 […]

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Investors Accuse Securities America Of Annuity Misconduct

June 03, 2020  |   Posted by :   |   Securities Arbitration Claims, Variable Annuites   |   Comments Off on Investors Accuse Securities America Of Annuity Misconduct

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 […]

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Investors Sue Securities America For $18 Million

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 […]

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Securities America Stockbroker Discharged For Forgery

November 24, 2019  |   Posted by :   |   Forgery, Investment and Regulatory News   |   0 Comments

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 […]

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Securities America Stockbroker Barred For Obstruction

October 14, 2019  |   Posted by :   |   Customer Loans, Investment and Regulatory News, Non-traded REITs   |   0 Comments

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. […]

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FINRA Bars Securities America Stockbroker In Investigation

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) […]

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Securities America Fires Stockbroker For Undisclosed Misconduct

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 […]

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Securities America Sued By Investors For Fraud

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 […]

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FINRA Bars Securities America Stockbroker In Investigation

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) […]

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Investor Accuses Securities America Of Risky Recommendations

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 […]

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FINRA Fines Securities America Broker For Excessive Trading

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 […]

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FINRA Fines Securities America For Failure To Supervise

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. […]

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Securities America Accused Of Misrepresentation

September 27, 2018  |   Posted by :   |   Investment and Regulatory News, Variable Annuites   |   0 Comments

Harry Paez of Russellville Arizona a stockbroker formerly registered with Securities America Inc. is the subject of a customer initiated investment related written complaint on March 1, 2016 where the customer sought $72,191.00 in damages founded on allegations that Paez misrepresented the tax consequences of a variable annuity purchased by the customer. Financial Industry Regulatory […]

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Investors Accuse National Planning Of Excessive Trading

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 […]

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Investor Sues National Planning For Misrepresentation

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 […]

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Investors Sue Securities America For Negligence

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 […]

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Securities America Named In $3.4 Million Ponzi Scheme

August 17, 2018  |   Posted by :   |   Misappropriation of Funds, Ponzi Schemes, Stockbroker Theft   |   0 Comments

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 […]

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SII Accused By Customer Of Annuity Misrepresentation

May 17, 2018  |   Posted by :   |   Investment and Regulatory News, Variable Annuites   |   0 Comments

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 […]

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Securities America Stockbroker Terminated For Misappropriation

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 […]

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Customer Accuses Securities America Of Suitability

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 […]

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Saxony Stockbroker Suspended For Unauthorized Trading

November 07, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

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 […]

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Securities America Broker Suspended For Selling Away

October 16, 2017  |   Posted by :   |   Selling Away and Outside Activities   |   0 Comments

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, […]

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Customer Sues Securities America Advisors

August 26, 2017  |   Posted by :   |   Investment and Regulatory News   |   0 Comments

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 […]

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Girard Securities Customer Alleges Fraud

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 […]

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Securities America Sued For Negligence

June 13, 2017  |   Posted by :   |   Bond Fraud, Securities Arbitration Claims   |   0 Comments

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 […]

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Valic Financial Advisors Sued By Customer For Misrepresentation

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 […]

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