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Investors Sue Centaurus Financial Over Unsuitable REIT Sales

Troy Nicholas Tremblay of Santa Barbara California a stockbroker associated with Centaurus Financial Inc. has been referenced in a customer initiated investment related arbitration claim which was settled for $40,000.00 in damages supported by allegations that the customer was poorly advised regarding real estate securities transactions effected when Tremblay was employed by Centaurus Financial. Financial […]

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LPL Stockbroker Sanctioned For Outside Business Activities

January 22, 2020  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Jason C. Labelle of Pittsfield Massachusetts a stockbroker formerly registered with LPL Financial LLC 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 the stockbroker engaged in an outside business activity without disclosing it to LPL Financial. Letter of […]

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Investors Sue David Lerner For Fraud

Robert Spencer Cavanagh (also known as Bob Holt) of Syosset New York a stockbroker currently registered with David Lerner Associates Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $38,500.00 in damages based upon allegations that (1) the customer was defrauded by making investments through the stockbroker (2) […]

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Investors Sue Fortune Financial In Multiple Cases Involving Broker Charged with Felony Fraud

Michael Giokas of Clarence New York a stockbroker employed by Fortune Financial Services Inc. has been identified in a customer initiated investment related arbitration claim which has been resolved for $22,000.00 in damages founded on accusations that (1) a fiduciary duty was breached (2) transactions failed to be adequately supervised by the securities broker dealer […]

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FINRA Charges Cabot Lodge With Failure To Supervise

Cabot Lodge Securities LLC a securities broker dealer headquartered in New York New York has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint containing allegations that (1) Cabot Lodge failed to supervise a non-traded real estate investment trust initial public offering and (2) the securities broker dealer poorly advised […]

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SA Stone Stockbroker Sanctioned For Unauthorized Transactions

Christopher Todd Wendel of Celina Ohio a stockbroker formerly employed by SA Stone Wealth Management Inc. has been ordered to cease and desist from violating securities laws or regulations by Ohio Division of Securities supported by allegations that (1) the stockbroker offered or sold securities without having been registered as a stockbroker in the State […]

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FINRA Bars LifeMark Stockbroker In Selling Away Scam

Stephen Corley Carver of Peoria Illinois a stockbroker formerly registered with LifeMark Securities Corp. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Carver failed to cooperate with FINRA personnel during the time that he was investigated for a customer initiated investment […]

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Investors Sue Transamerica For Misconduct

William Dean Byrd of Tampa Florida a stockbroker formerly employed by Transamerica Financial Advisors Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $300,000.00 in damages founded on accusations that (1) trades were made solely to generate commissions from the customer (2) the customer’s account was over concentrated by […]

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Investors Sue Wells Fargo For Breach Of Fiduciary Duty

Michael Fisher of Melville New York a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related arbitration claim in which the customer was awarded $50,000.00 in compensatory damages based upon Wells Fargo Advisors being found liable on the customer’s claims which included that (1) the customer’s account […]

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Ameriprise Stockbroker Barred For Failing To Pay Arbitration Award

Cary Jarrett Kievman of Westlake Village California a stockbroker formerly registered with Ameriprise Financial Services Inc. has been suspended by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in any capacity based upon accusations that the stockbroker neglected to comply with an arbitration award or settlement agreement or otherwise confirm her compliance […]

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Investors Sue GF Investment Services For Bad REITs

Christopher Grant Conness of Fort Lauderdale Florida a stockbroker formerly registered with GF Investment Services LLC is referenced in a customer initiated investment related arbitration claim which was settled to resolve accusations that (1) real estate securities were in no way suitable for the customer and (2) transactions effected by Conness while associated with GF […]

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Janney Montgomery Stockbroker Barred In Theft Investigation

John Joseph Cahill of Upper Saddle River New Jersey a stockbroker formerly registered with Janney Montgomery Scott LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to furnish information and documentation to FINRA during the time that he was […]

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Stockbroker Sanctioned by FINRA For Failure To Respond

January 17, 2020  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Fadi Sami Soliman of Liverpool New York a stockbroker formerly registered with IBN Financial Services Inc. has been barred by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in any capacity based upon allegations that the stockbroker neglected to respond to FINRA’s request for information about his activities. FINRA Case No. 2018057407901 […]

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Investors Sue Merrill Lynch For Misrepresentation

Dario Alberto Ochoa of Guaynabo Puerto Rico a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim where the customer requested $210,000.00 in damages based upon accusations that (1) investment recommendations made by the stockbroker were unsuitable for the customer in view of the customer’s […]

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FINRA Sanctions International Assets Broker For Defective Investment Advice

Robert James D’Andria (also known as Bob D’Andria) of Spring Lake New Jersey a stockbroker currently registered with International Assets Advisory LLC has been fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that D’Andria provided customers of the […]

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Spartan Capital Stockbroker Barred For Failing To Pay Arbitration Award

January 17, 2020  |   Posted by :   |   Boilerroom, Stockbroker Fraud News   |   0 Comments

Matthew Angelo Siliato of New York New York a stockbroker formerly registered with Spartan Capital has been suspended by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in any capacity supported by accusations that the stockbroker neglected to comply with an award or settlement agreement or otherwise confirm his compliance with the […]

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CFD Investments Sued By Investors For Fraud

Dana Bruce Vietor of Dallas Texas a stockbroker formerly registered with CFD Investments Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $75,000.00 in damages supported by allegations that (1) a contract was breached by the stockbroker or the securities broker dealer (2) fiduciary duties had been breached […]

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SEC Charges CoreCap Stockbroker Convicted Of Stealing Customer Funds

Ernest Julius Romer III of Sterling Heights Michigan a stockbroker formerly employed by CoreCap Investments Inc. is the subject of an enforcement action initiated by Securities and Exchange Commission (SEC) where the regulator is seeking sanctions against Romer based upon accusations that the stockbroker has been convicted of embezzlement. Regulatory Action No. 3-19006 (Feb. 22, […]

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Northwestern Stockbroker Barred In Investigation

John A. Chrysadakisof Norwalk Connecticut a stockbroker formerly registered with Northwestern Mutual Investment Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he neglected to cooperate with FINRA while he was investigated for engaging in fraudulent conduct. Letter of Acceptance […]

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Feltl Company Sued By Investors For Fraud

Lance Jeffrey Ziesemer of Wayzata Minnesota a stockbroker formerly registered with Feltl Company is the subject of a customer initiated investment related arbitration claim where the customer was awarded $44,972.00 in compensatory damages based upon Feltl Company being found liable on the customer’s claims which included (1) fraud (2) breach of fiduciary duty (3) breach […]

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Investors Sue Wells Fargo For Unauthorized Trading

Leonard Charles Kinsman of Staten Island New York a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC is referenced in a customer initiated investment related arbitration claim where the customer requested at least $591,866.69 in damages founded on accusations that (1) customer account documentation contained unauthorized alterations or forged customer signatures (2) investment […]

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FINRA Bars First Allied Stockbroker In Investigation

January 17, 2020  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

Shlomo Strugano (also known as Shlomy Strugano) of Reseda California a stockbroker formerly registered with First Allied Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he declined to testify in a FINRA investigation concerning allegations of forgery. Letter of […]

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Ameriprise Sued By Investors For Unsuitable Investment Advice

William David Utanski of Fort Lauderdale a stockbroker formerly employed by Ameriprise Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $125,000.00 in damages supported by allegations that (1) the customer was poorly advised on common or preferred stocks and (2) transactions failed to be suitable […]

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Investors Sue Summit Brokerage Services For Stockbroker Misconduct

Ronald Dean Clark of Tampa Florida a stockbroker formerly registered with ProEquities Inc. and Summit Brokerage Services Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $99,990.00 in damages founded on allegations that (1) misrepresentations had been made by the stockbroker in regard to real estate securities (2) the […]

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Spartan Capital Sued By Investors For Unsuitable Investment Advice

John Joseph Stapleton of Garden City New York a stockbroker currently employed by Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $500,000.00 in damages supported by allegations of inappropriate common or preferred stocks Stapleton sold or recommended while the stockbroker was associated with Spartan Capital […]

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Morgan Stanley Stockbroker Barred In Inquiry

January 17, 2020  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Raymond Arthur Montchal of Camp Hill Pennsylvania a stockbroker formerly registered with Morgan Stanley has been barred by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in any capacity based upon accusations or findings that the stockbroker failed to respond to FINRA’s request for information about his activities while employed by Morgan […]

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Berthel Fisher Sued For Misrepresentation

John William Carroll of Maumee Ohio a stockbroker formerly registered with Berthel Fisher Company Financial Services Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested damages estimated to exceed $5,000.00 supported by accusations that (1) misrepresentations had been made to the customer regarding the terms and conditions […]

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SEC Charges Arive Stockbroker With Fraud

January 17, 2020  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Richard Lyndon Brown of Farmingdale New York a stockbroker formerly registered with Arive Capital Markets has been charged by Securities and Exchange Commission (SEC) in a Complaint in which the regulator is seeking sanctions against Brown based upon allegations that the stockbroker engaged in a fraudulent bribery scheme violative of federal securities laws. Securities and […]

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Newport Coast Stockbroker Barred For Conversion

David Oscar Braeger of Milwaukee Wisconsin a stockbroker formerly employed by Newport Coast Securities Inc. is the subject of a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Decision which affirmed a FINRA Extended Hearing Panel Decision barring Braeger from associating with any member in any capacity based upon findings that (1) Braeger made misrepresentations […]

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Investors Sue Laidlaw In Failure to Execute Scam

Lawrence Marc Lowe (also known as Larry Lowe) of New York New York a stockbroker formerly registered with Laidlaw Company (UK) Ltd. is the subject of a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages based upon accusations that the customer’s investment instructions had been disregarded by Lowe as […]

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Hilltop Securities Accused Of Excessive Trading UITs

Walter Roland Valenzuela of Del Mar California a stockbroker currently registered with Hilltop Securities Inc. is referenced in a customer initiated investment related complaint which was settled on November 1, 2018 for $100,000.00 in damages founded on accusations that (1) unit investment trust trades were made in the customer’s account on an excessive basis (2) […]

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FINRA Sanctions Morgan Stanley Stockbroker

January 10, 2020  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Francisco Javier Valenzuela of Tucson Arizona a stockbroker formerly registered with Morgan Stanley has been fined $10,000.00 and suspended for eight months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based in part on allegations that Valenzuela failed to timely cooperate with FINRA personnel while he was investigated for the […]

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Investors Accuse Kovack Securities Of Unsuitability

January 10, 2020  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Anthony Edward Locascio (also known as Tony Locascio) of Clinton New Jersey a stockbroker currently employed by Kovack Securities Inc. is referenced in a customer initiated investment related complaint which was settled on August 23, 2018 to resolve allegations that the customer had been sold a variable annuity which failed to be appropriate and which […]

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GMS Group Sued By Investors For Bond Fraud

Jason Lyn Figueroa of Boca Raton Florida a stockbroker formerly registered with GMS Group LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested 1,000,000.00 in damages supported by allegations that (1) the customer’s account had been negligently administered (2) municipal debt investment recommendations failed to be suitable […]

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CP Capital Stockbroker Barred For Conversion

Jorge A. Reyes (also known as Jorge Quiroz and as George Reyes) of Miami Florida a stockbroker formerly registered with CP Capital Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Extended Hearing Panel Decision containing findings that (1) Reyes made investment recommendations […]

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Dawson James Securities Sued For Stockbroker Misconduct

Paul Robert DiPietro of Boca Raton Florida a stockbroker formerly employed by Dawson James Securities Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $68,926.88 in damages founded on allegations of the customer being provided unsuitable investment advice by DiPietro as it pertained to over-the-counter equities held in […]

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FINRA Sanctions Spencer Winston Stockbroker For Using Blank Forms

January 10, 2020  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Ezri Shechter (also known as Eddie Shechter) of Jersey City New Jersey a stockbroker currently registered with Spencer Winston Securities Corporation has been fined $12,500.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that (1) Shechter executed unauthorized transactions in customer accounts […]

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Investors Sue Dawson James For Excessive Trading

Peter George Ruggiere of Boca Raton Florida a stockbroker currently registered with Dawson James Securities Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $80,013.13 in damages supported by accusations that (1) excessive stock trades were effected in the customer’s account (2) risks or other details of Ruggiere’s […]

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Northwestern Mutual Stockbroker Barred In Investigation

January 10, 2020  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

Meaghan Marie Johnson of Mc Lean Virginia a stockbroker formerly registered with Northwestern Mutual Investment Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Johnson failed to cooperate in a FINRA investigation into accusations of her involvement in forging documents relating to customer […]

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Mutual Of Omaha Stockbroker Barred In Investigation

January 10, 2020  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Ramon Esparza of Edinburg Texas a stockbroker employed by Mutual of Omaha Investor Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA personnel during the period in which he was investigated for engaging in […]

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Edward Jones Inappropriately Accused Of Unsuitable Investment Advice

January 10, 2020  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Patricia Ellen Del Bene (also known as Patricia Ellen Comeau, Patricia Ellen Delbene and Patricia Ellen Ross) of Oviedo Florida a stockbroker currently registered with Edward Jones is referenced in a customer initiated investment related complaint on April 30, 2018 where the customer requested more than $5,000.00 in damages supported by accusations that the customer […]

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WestPark Terminates Stockbroker For Failure To Comply With Heightened Supervision

January 10, 2020  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Gregory Walter McCloskey (also known as Gregory Walter Meier) of Newport Beach California a stockbroker formerly registered with WestPark Capital Inc. has been terminated by the securities broker dealer on October 7, 2019 founded on accusations that McCloskey failed to comply with a heightened supervision plan that was implemented because of his misconduct in the […]

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Ameritas Sued By Investors For Churning

January 10, 2020  |   Posted by :   |   Churning, Excessive trading, Stockbroker Fraud News   |   0 Comments

Michael Frank Vetere of Bayside New York a stockbroker formerly registered with TFS Securities Inc. and Ameritas Investment Corp. is the subject of a customer initiated investment related arbitration claim in which the customer sought $1,000,000.00 in damages based upon accusations that (1) the customer’s mutual fund holdings were churned by the stockbroker (2) life […]

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Wells Fargo Stockbroker Sanctioned For Customer Loan

January 10, 2020  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Glen Joseph Webster of Atlanta Georgia a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Webster’s consent to findings that he engaged in a prohibited borrowing arrangement with a customer of Wells Fargo. […]

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Investors Sue Morgan Stanley In Puerto Rican Bond Debacle

James Henry Duffy of Riverhead New York a stockbroker currently employed by Morgan Stanley is the subject of a customer initiated investment related arbitration claim which was resolved for $30,000.00 in damages supported by accusations that between March 2006 and July 2017, unsuitable investment recommendations were made about Puerto Rico municipal bonds sold to the […]

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Capital One Stockbroker Barred In Theft Inquiry

Arturo Diego Montenora (also known as Arty Montenora) of Jersey City New Jersey a stockbroker formerly registered with Capital One Investing LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Montenora failed to respond to inquiries made by the regulator following disclosures of […]

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Merrill Lynch Sued By Investors For Misappropriation

James Robert Schaedler Jr. of Anaheim California a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. and Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought $964,872.23 in damages based upon accusations that funds provided to Schaedler for the customer’s mutual fund […]

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Investors Sue Wedbush In Zirk De Maison Scandal

Timary Ann Delorme (also known as Timary Ann Koller) of Los Angeles California a stockbroker formerly registered with Wedbush Securities Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $100,000.00 in damages supported by accusations that (1) a written investment contract had been breached (2) fraudulent misrepresentations were […]

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FINRA Bars CapWest Stockbroker In Hedge Fund Scam

January 10, 2020  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Robert Russel Tweed (also known as Rusty Tweed) of San Marino California a stockbroker formerly employed by CapWest is the subject of a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council (NAC) Decision which affirmed an Extended Hearing Panel Decision in which Tweed was barred from associating with any FINRA member based upon findings of […]

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Aeon Capital Sued By Investors For Private Placement Fraud

Timothy Allen Thelen of Scottsdale Arizona a stockbroker formerly registered with Aeon Capital Inc. and Accelerated Capital Group is referenced in a customer initiated investment related arbitration claim where the customer requested $620,000.00 in damages founded on accusations that (1) private placement offerings were negligently recommended or sold by the stockbroker and (2) Thelen breached […]

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FINRA Sanctions Raymond James Stockbroker

January 10, 2020  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unit Investment Trusts   |   0 Comments

Cecil Allen Ross of Orlando Florida a stockbroker formerly registered with Raymond James Associates has been fined $5,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Ross made unsuitable recommendations of unit investment trust transactions in customer accounts. Letter […]

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Park Avenue Accused Of Unauthorized Transactions

January 10, 2020  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Robert Charles Wynn of Glendale California a stockbroker formerly employed by Park Avenue Securities LLC is referenced in a customer initiated investment related complaint where the customer requested unspecified damages founded on accusations that (1) the customer was placed into an unsuitable fixed indexed annuity during the time that he was associated with Park Avenue […]

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Lek Securities Corporation Sanctioned By FINRA

January 10, 2020  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Lek Securities Corporation a securities broker dealer headquartered in New York New York and Samuel Frederik Lek (its former Chief Executive Officer) have been sanctioned by Financial Industry Regulatory Authority (FINRA) according to a FINRA Office of Hearing Officers Order Accepting Offer of Settlement based in part on findings that Lek Securities Corporation and Samuel […]

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Investors Sue Ameriprise For Bad Alternative Investments

January 10, 2020  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Tom Gilliam Parks Jr. (also known as Gil Parks) of Stephenville Texas a stockbroker formerly registered with Ameriprise Financial Services Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $35,000.00 in damages based upon allegations that between August of 2014 and January of 2018, the customer had been […]

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Mutual Of Omaha Bars Stockbroker In Outside Business Activities Investigation

Ramon Esparza of Edinburg Texas a stockbroker employed by Mutual of Omaha Investor Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA personnel during the period in which he was investigated for partaking in […]

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FINRA Brings Actiopn Against Stockbroker For Unsuitable REIT Sales

Mercer Hicks III (also known as Toby Hicks) of Pinehurst North Carolina a stockbroker formerly registered with Capital Investment Group Inc. has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that his advice to customers regarding non-traded business development companies and non-traded real estate investment trust products was […]

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National Securities Accused Of Unauthorized Trading

January 10, 2020  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Rodrigue Lors (also known as Rodrique Lors) of Westbury New York a stockbroker formerly employed by National Securities Corporation is referenced in a customer initiated investment related complaint on March 26, 2018 where the customer sought $10,000.00 in damages supported by accusations that unauthorized stock trades were executed in the customer’s investment account during the […]

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RBC Capital Markets Sued By Investors For Bad Bonds

Samuel Kluft Koltun of West Palm Beach Florida a stockbroker formerly employed by RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim which was settled for $180,000.00 in damages supported by accusations that the customer was placed into unsuitable investments including Puerto Rico bonds between December of 2009 and May […]

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Morgan Stanley Accused Of Excessive Trading

January 09, 2020  |   Posted by :   |   Excessive trading, Stockbroker Fraud News   |   0 Comments

Robert Charles Fairchild of Kerrville Texas a stockbroker currently employed by Morgan Stanley is referenced in a customer initiated investment related written complaint on September 9, 2019 in which the customer sought $50,000.00 in damages supported by accusations that (1) commissions were excessive and (2) trades were effected by the stockbroker on an excessive basis […]

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Investors Accuse Merrill Lynch Of Unauthorized Trading

David Robert Feigelman of Stowe Vermont a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith is referenced in a customer initiated investment related complaint on February 16, 2018 in which the customer requested damages estimated to exceed $5,000.00 supported by accusations that unauthorized exchange traded fund trades were effected in the customer’s Merrill Lynch […]

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FINRA Sanctions Worden Capital Management Stockbroker

Bruno Henrique Silva (also known as Harvey Silva) of Melville New York a stockbroker formerly registered with Worden Capital Management LLC has been fined $15,000.00 and suspended for sixteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based in part on findings that Silva falsified the securities broker dealer’s […]

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M. Holdings Stockbroker Brocker Accused Of Unauthorized Trading

January 09, 2020  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Michael Douglas Brocker of Woodbury Minnesota a stockbroker currently registered with M. Holdings Inc. is referenced in a customer initiated investment related written complaint on January 30, 2018 where the customer sought $25,851.00 in damages based upon accusations that the customer’s instructions had been disregarded by Brocker as it pertained to the rebalancing of stock […]

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American Partners Sued For Private Placement Fraud

Anthony Vultaggio Jr. of East Meadow New York a stockbroker formerly employed by American Capital Partners LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $700,000.00 in damages based upon accusations that the customer had been sold a bad private placement offering through Vultaggio during the time […]

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FINRA Sanctions Cambridge For Failure To Supervise UITs

Cambridge Investment Research a securities broker dealer headquartered in Fairfield Iowa has been censured and fined $150,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that (1) Cambridge failed to adequately supervise mutual fund and unit investment trust (UIT) trades (2) Cambridge neglected to create an adequate supervision system to identify and prevent its […]

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Investors Sue Morgan Stanley For Unsuitable Corporate Bond Sales

January 09, 2020  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Christopher James Butler of Woodland Hills California a stockbroker currently registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim where the customer sought $395,579.00 in damages supported by allegations that corporate bonds held in the customer’s account were unsuitable. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-01267 (May 16, […]

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FINRA Investigates Bardown Capital For Failure To Supervise

January 09, 2020  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

John Grifonetti of Old Tappan New Jersey a stockbroker formerly employed by Bayes Capital and Bardown Capital is the subject of a Financial Industry Regulatory Authority (FINRA) investigation in which FINRA recommended on October 15, 2019 for a disciplinary action to be brought against Grifonetti by Department of Enforcement alleging that Grifonetti failed to supervise […]

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Alexander Capital Sued For Penny Stock Fraud

Peyton Nelson Jackson of New York New York a stockbroker formerly employed by Alexander Capital is the subject of a customer initiated investment related arbitration claim where the customer sought $280,000.00 in damages based upon accusations that (1) unsuitable recommendations or trades had been made by the stockbroker (2) fiduciary obligations were violated concerning restricted […]

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Merrill Lynch Stockbroker Sanctioned For Selling Away

Frank Howard Zito of Ridgeland Mississippi a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been sanctioned by the Office of the Mississippi Secretary of State Securities Division according to a Consent Order containing findings that (1) Zito engaged in private securities transactions during the time that he was associated with Merrill […]

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Investors Accuse National Planning Of Bad Alternative Investment Recommendations

Steven Joseph Case (also known as Steve Case) of National Planning Corporation a stockbroker formerly registered with National Planning Corporation is the subject of a customer initiated investment related written complaint on May 24, 2019 in which the customer sought damages estimated to exceed $5,000.00 supported by accusations that the National Planning Corporation customer had […]

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Investors Sue Ameriprise For Bogus Stock Sales

William Wesley Marshall of Plano Texas a stockbroker formerly registered with Ameriprise Financial Services is referenced in a customer initiated investment related arbitration claim which was resolved for $399,000.00 in damages supported by allegations that the customer was advised by Marshall to purchase fraudulent Colorado Rare Earths and BioChemics Inc. stocks that caused the customer […]

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Regulator Sanctions Innovation Partners Stockbroker

January 09, 2020  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Yanique Elaine Lawrence of Charlotte North Carolina a former Chief Executive Officer and President of Innovation Partners LLC agreed to sanctions imposed by the Maryland Securities Division which involve her not engaging in securities business in Maryland based on her being permanently barred by Financial Industry Regulatory Authority (FINRA) in all principal capacities and suspended […]

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Ameriprise Financial Sued By Investors For Securities Fraud

Michael Anthony Lipscomb of Orlando Florida a stockbroker currently registered with Ameriprise Financial Services is the subject of a customer initiated investment related arbitration claim where the customer was awarded $40,000.00 in compensatory damages based upon Ameriprise being found liable on the customer’s claims including that (1) fiduciary duties were violated (2) contractual obligations had […]

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Davenport Stockbroker Sanctioned For Unauthorized Trading

January 09, 2020  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Michael Joseph David Kane of Virginia Beach Virginia a stockbroker currently registered with Davenport Company LLC has been fined $2,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in unauthorized trading during the period in which he was associated with […]

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Investors Accuse Wells Fargo Of Excessive Trading

January 09, 2020  |   Posted by :   |   Excessive trading, Stockbroker Fraud News   |   0 Comments

Douglas L. Goss of Tulsa Oklahoma a stockbroker formerly employed by Wells Fargo Advisors is referenced in a customer initiated investment related written complaint on July 10, 2019 where the customer requested damages estimated to exceed $5,000.00 supported by allegations that between June 14, 2013 and July 10, 2019, trades were effected in the customer’s […]

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Investors Accuse Wells Fargo Of ETF Misconduct

January 09, 2020  |   Posted by :   |   Exchange Traded Funds, Stockbroker Fraud News   |   0 Comments

Byron Del Piro of Bellevue Washington a stockbroker currently employed by Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related written complaint on January 31, 2018 where the customer sought $73,000.00 in damages supported by accusations that between September of 2013 and January of 2018: (1) exchange traded fund recommendations […]

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Ameriprise Stockbroker Barred In Investigation

January 09, 2020  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

David Cohen Drees of Sandy Utah a stockbroker formerly registered with Ameriprise Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Drees neglected to cooperate with a FINRA inquiry that had been made after Drees was terminated from Ameriprise. Case No. […]

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Cetera Investment Services Accused Of Unauthorized Trading

January 09, 2020  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Craig Allen Leppien of Traverse City Michigan a stockbroker formerly registered with Cetera Investment Services LLC is referenced in a customer initiated investment related written complaint on April 16, 2019 where the customer requested $41,338.86 in damages based upon accusations that unauthorized transactions were executed by the stockbroker when he was associated with Cetera Investment […]

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Oppenheimer Sanctioned Billion Dollar Failure To Supervise UITs

Oppenheimer Co. Inc. a securities broker dealer headquartered in New York New York has been censured and fined $800,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that the securities broker dealer neglected to adequately supervise its stockbrokers’ unit investment trust trades in customer accounts. Letter of Acceptance Waiver and Consent No. 2016050948101 (Dec. […]

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Raymond James Discharges Stockbroker For UIT Trades

Joe Tom King Jr. of Panama City Florida a stockbroker formerly employed by Raymond James Associates Inc. has been discharged by the securities broker dealer on December 6, 2018 founded on accusations that the stockbroker engaged in inappropriate unit investment trust transactions. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that King is referenced in […]

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Investors Accuse Citizens Securities Of Misrepresentation

January 09, 2020  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Mark Emerson Despelder of GrossePointe Michigan a stockbroker formerly registered with Citizens Securities Inc. is referenced in a customer initiated investment related written complaint on December 4, 2018 where the customer sought $31,440.00 in damages based upon allegations that (1) the customer had been placed in preferred stocks that failed to be appropriate and (2) […]

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Investors Sue Impactive Advisors For Fraud

Christopher Michael Zelesnick of Nashville Tennessee a stockbroker formerly employed by Impactive Advisors LLC is the subject of a customer initiated investment related civil action in which the customer sought $7,250,000.00 in damages founded on accusations that between 2013 and 2017: (1) the customer had been defrauded and (2) the customer’s funds had been misappropriated […]

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Regulator Sanctions Investors Capital Corp Stockbroker

Matthew Earl Peregoy of Brick New Jersey a stockbroker formerly employed by Investors Capital Corp. has been assessed a $39,000.00 civil monetary penalty by New Jersey Securities Bureau according to a Consent Order containing findings that (1) Peregoy engaged in unethical and dishonest practices in the securities business (2) Peregoy is the subject of an […]

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SagePoint Sued For Defective Investment Advice

Christopher R. Bice (also known as Cubby Bice) of Greensboro North Carolina a stockbroker currently registered with SagePoint Financial Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $1,000,000.00 in damages supported by accusations that (1) false or misleading statements had been made by the stockbroker (2) the […]

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FINRA Bars Ameriprise Stockbroker Near Site of Lost Colony

January 09, 2020  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

Peter Richard Erhart of Roanoke Virginia a stockbroker formerly registered with Ameriprise Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that he neglected to provide information to FINRA personnel that was requested of him during a pre-investigation inquiry. Case No. 2018058452701 […]

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Investors Accuse Morgan Stanley Of Unsuitable Municipal Bond Transactions

David Hugh Bindelglass of Paramus New Jersey a stockbroker formerly employed by Morgan Stanley is the subject of a customer initiated investment related complaint which was resolved for $100,000.00 in damages on January 10, 2019 founded on accusations that unsuitable municipal debt trades had been effected in the customer’s account during the time that Bindelglass […]

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Investors Sue LPL Financial For REIT Sales

Graham Charles Green of San Francisco California a stockbroker currently registered with LPL Financial LLC is the subject of a customer initiated investment related written complaint on January 18, 2018 where the customer sought damages estimated to exceed $5,000.00 founded on accusations that investment recommendations failed to be suitable and the customer sustained losses on […]

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FINRA Bars Cetera Stockbroker In Investigation

Omar K. Henry of New York New York a stockbroker formerly registered with Cetera Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that he failed to comply with FINRA during a time that he was probed or examined for possible violations of […]

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FINRA Bars Benjamin Jerold Stockbroker In Investigation

January 09, 2020  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Juergen Weber of New York New York a stockbroker formerly registered with Benjamin Jerold Brokerage I LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Weber neglected to cooperate with FINRA when he was investigated for effecting transactions in customer accounts without their […]

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Herbert J. Sims Sued By Investors For Fraud

Laurence Charles Greene of Ellijay Georgia a stockbroker formerly employed by Herbert J. Sims Co. Inc. is referenced in a customer initiated investment related arbitration claim which was settled for $65,000.00 in damages supported by accusations that (1) false or misleading statements had been made in regard to investments Greene sold to the customer (2) […]

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FINRA Bars LPL Stockbroker In Investigation

December 18, 2019  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Michael Radford Severance of Edina Minnesota a stockbroker formerly employed by LPL Financial LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Severance failed to cooperate with a FINRA investigation into accusations of him engaging in undisclosed outside business activities. Letter of Acceptance […]

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Cambridge Investment Research Accused Of Unsuitable Investment Advice

John Stephen Pronovost of Watertown Connecticut a stockbroker currently employed by Cambridge Investment Research Inc. is the subject of a customer initiated investment related complaint which was settled for $218,295.00 in damages on October 2, 2019 supported by allegations that mutual fund transactions executed by the stockbroker failed to be suitable. Financial Industry Regulatory Authority […]

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Titan Securities Accused Of Unsuitable REIT Recommendations

Walter Warren Parker of Rowlett Texas a stockbroker formerly registered with Titan Securities is referenced in a customer initiated investment related written complaint which was resolved for $10,000.00 in damages on September 20, 2019 supported by accusations that the customer had been inappropriately sold real estate security products and at least four of the customer’s […]

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Key Investment Services Sanctioned For Failure To Supervise

Key Investment Services LLC a securities broker dealer headquartered in Brooklyn Ohio has been censured and fined $425,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that the securities broker dealer: (1) failed to supervise unit investment trust transactions executed in customer accounts by its stockbrokers (2) neglected to enforce procedures relating to the […]

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Investors Sue Defunct First Standard For Unauthorized Trading

Jeffrey Allen Baber of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial Company LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $2,000,000.00 in damages founded on allegations that (1) trades were executed by the stockbroker without the customer’s knowledge or consent and […]

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FINRA Charges IFS Stockbroker With Undisclosed Outside Business Activities

Robert Henderson of Miami Lakes Florida a stockbroker formerly registered with IFS Securities has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint which alleged that Henderson engaged in unpermitted outside business activities during the period in which he was associated with IFS Securities. Department of Enforcement v. Robert Henderson Disciplinary Proceeding No. […]

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Wells Fargo Sued For Unsuitable Direct Investments

Regan Allen Rohl of Fargo North Dakota a stockbroker currently employed by Wells Fargo Advisors Financial Network LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $35,000.00 in damages based upon allegations that (1) direct participation program interests or limited partnership interests recommendations were not suitable given the customer’s […]

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Geneos Sued For Defective Oil And Gas Investments

Joseph Harold Sterling of Apple Valley Minnesota a stockbroker currently registered with Geneos Wealth Management Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $177,000.00 in damages founded on allegations that stock trades recommended by Sterling failed to be suitable given the customer’s investor profile and (2) the […]

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Raymond James Stockbroker Charged With Obstruction Inquiry

December 18, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Bryce Patrick Jenney of Nashville Tennessee a stockbroker formerly registered with Raymond James Associates Inc. has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that (1) Jenney neglected to furnish documentation and information to FINRA when he was under investigation and (2) Jenney failed to testify in response to allegations of […]

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Investors Sue Wells Fargo For Misrepresentation

Marc Francis Rogers (also known as Buck Rogers) of East Palo Alto California a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $1,300,000.00 in damages supported by accusations that (1) the customer was placed into investments and insurance products which […]

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FINRA Sanctions KC Ward CEO For Failure To Supervise

December 18, 2019  |   Posted by :   |   Boilerroom, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Louis Ward of Ronkonkoma New York a former owner and Chief Executive Officer of KC Ward Financial has been fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Ward neglected to adequately supervise three KC Ward stockbrokers who gave customers […]

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Investors Accuse SW Financial Of Misrepresentation

December 18, 2019  |   Posted by :   |   FINRA Securities Arbitration, Options, Stockbroker Fraud News   |   0 Comments

Christopher Anthony Fernan of Melville New York a stockbroker formerly registered with Salomon Whitney Financial is referenced in a customer initiated investment related written complaint on November 27, 2018 where the customer requested $46,000.00 in damages based upon allegations that false or misleading statements had been made by the stockbroker concerning the risks of options […]

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Wells Fargo Accused Of Unsuitable Bond Recommendations

Jeffrey Lamar Burton of Greenville South Carolina a stockbroker currently employed by Wells Fargo Advisors Financial Network is referenced in a customer initiated investment related written complaint which was resolved on November 5, 2019 for $1,550,00.00 on November 5, 2019 supported by allegations that (1) the customer was charged excessive commissions on trades executed in […]

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CUSO Stockbroker Barred In Annuity Investigation

December 18, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Gerald Thomas Coyne (also known as JT Coyne) of Harrisburg Pennsylvania a stockbroker formerly employed by CUSO Financial Services L.P. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Coyne obstructed a FINRA investigation into accusations of (1) his misconduct pertaining to customer accounts […]

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Centaurus Sued By Investors For Misrepresentation

Katherine Greer Nishnic of Lexington South Carolina a stockbroker currently employed by Centaurus Financial Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages based upon accusations that between 2010 and 2018: (1) transactions executed by the stockbroker failed to be suitable for the customer […]

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SEC Charges LPL Stockbroker With Securities Fraud

Kerry Lee Hoffman of Mundelein Illinois a stockbroker formerly registered with LPL Financial LLC has been charged by Securities and Exchange Commission (SEC) in a Complaint which alleged that Hoffman engaged in securities fraud through his offer and sale of unregistered GT Media Inc. securities. United States Securities and Exchange Commission v. Kerry L. Hoffman […]

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Investors Sue Hilliard Lyons For Securities Fraud

Christopher Duke Bennett of Louisville Kentucky a stockbroker formerly employed by J.J.B. Hilliard W.L. Lyons LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $65,000.00 in damages supported by allegations that (1) the customer’s account was churned (2) unauthorized trades were executed by the stockbroker (3) investment […]

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FINRA Sanctions Country Capital Management Stockbroker

Robert P. Allen of Augusta Georgia a stockbroker formerly registered with Country Capital Management Company has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he engaged in unapproved outside business activities. Letter of Acceptance Waiver and Consent No. […]

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Ameriprise Sued For Failure To Follow Instructions

December 18, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Joseph Lawrence Peggs of Seminole Florida a stockbroker currently registered with Ameriprise Financial Services Inc. is the subject of a civil action brought in the Circuit Court of Florida in which the plaintiff requested unspecified damages founded on allegations of the failure to execute distributions from the customer’s investment account in accordance with the customer’s […]

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Investors Accuse Cetera Of Unauthorized Trading

Joshua Jon Beitel of Traverse City Michigan a stockbroker formerly registered with Cetera Investment Services LLC is the subject of a customer initiated investment related written complaint on April 16, 2019 where the customer sought $41,338.86 in damages founded on accusations that the customer’s investments were modified without the customer’s knowledge or consent. Financial Industry […]

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Morgan Stanley Stockbroker Terminated For Unauthorized Trading

December 18, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Paul David Babaz of Atlanta Georgia a stockbroker formerly employed by Morgan Stanley has been terminated by the securities broker dealer on October 4, 2019 based upon allegations that (1) trades were effected in Morgan Stanley customer accounts without authorization and (2) trade adjustment forms had been improperly used by Babaz in reference to customers’ […]

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Merrill Lynch Accused Of Unsuitable REIT Recommendations

Christopher Charles Hellman of Boca Raton Florida a stockbroker formerly employed by Merrill Lynch Pierce is referenced in a customer initiated investment related written complaint which was settled for $187,672.90 on June 12, 2019 based upon accusations that between July 3, 2018 and September 19, 2018, misrepresentations had been made by the stockbroker concerning the […]

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Boustead Stockbroker Terminated Amid Investigation

December 18, 2019  |   Posted by :   |   Private Placement Fraud, Stockbroker Fraud News   |   0 Comments

Melvin Pirchesky of Irvine California a stockbroker formerly employed by Boustead Securities LLC has been terminated by the securities broker dealer on April 12, 2019 during the period in which he was investigated for violating FINRA rules and Boustead’s procedures which pertained to private placement activities. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms […]

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Investors Sue Deutsche Bank For Churning

Jorge Luis Alfonso of Palm Beach Gardens Florida a stockbroker formerly registered with Deutsche Bank Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested more than $5,000.00 in damages founded on allegations that (1) the customer had been placed into speculative and inappropriate stocks given the customer’s objectives […]

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FINRA Investigates Transamerica Financial Stockbroker

Steven Harris of Burr Ridge Illinois a stockbroker formerly registered with Transamerica Financial Advisors Inc. is referenced in a Financial industry Regulatory Authority (FINRA) investigation in which the regulator advised its Department of Enforcement to pursue disciplinary action against Harris for failing to cooperate with FINRA during an inquiry into accusations of his outside business […]

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Capital Financial Sued For Breach Of Fiduciary Duty

Steven Roland Knuttila of Perham Minnesota a stockbroker formerly employed by Capital Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought more than $5,000.00 in estimated damages supported by accusations that (1) a contract had been violated (2) fiduciary obligations to the customer failed to be complied […]

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Next Financial Sued By Investors For Bad Mutual Fund Trades

Charles Lawrence Doraine of Corpus Christi Texas a stockbroker formerly registered with Next Financial Group Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $500,000.00 in damages founded on accusations that between 2012 to 2018: (1) the customer’s diminished capacity had been exploited by the stockbroker (2) mutual […]

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Investors Accuse Aegis Bad Investment Advice

December 13, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Joseph W. Rozof of New York New York a stockbroker currently registered with Aegis Capital Corp. is the subject of a customer initiated investment related complaint which was resolved for $14,500.00 in damages on October 8, 2019 founded on allegations that between February of 2019 and August of 2019, the customer received bad investment advice […]

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PFS Stockbroker Barred By FINRA For Obstruction

Robert Frederick Genito of Bonita Springs Florida a stockbroker formerly registered with PFS Investments Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings of the stockbroker failing to provide recorded testimony during FINRA’s investigation into allegations into his (1) outside business activities which failed […]

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H. Beck Accused Of BDC Misrepresentation

John Tweardy Jr. of Canonsburg Pennsylvania a stockbroker formerly employed by H. Beck Inc. is referenced in a customer initiated investment related complaint on July 16, 2019 where the customer requested $3,250,000.00 in damages supported by allegations that between December 3, 2013 and May 24, 2019: false or misleading statements had been made by Tweardy […]

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Investors Sue First Standard For Unauthorized Trading

Roy Joseph Failla of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial Company LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $26,000.00 in damages based upon allegations that (1) common and preferred stock trades effected by Failla failed to be suitable (2) […]

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Morgan Stanley Stockbroker Sanctioned For Unauthorized Trading

December 13, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Eugene Nathan Gordon (also known as Gene Gordon) of Palo Alto California a stockbroker formerly employed by Morgan Stanley has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Gordon executed trades without the consent of a customer of […]

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Investors Sue MetLife For Fraud

Gary Wayne Hammond of Charlotte North Carolina a stockbroker formerly registered with MSI Financial Services (MetLife Securities) is the subject of a customer initiated investment related civil action brought in the North Carolina Superior Court in which the customer sought more than $25,000.00 in damages based upon allegations that (1) the customer had been provided […]

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Maxim Stockbroker Sanctioned For Unauthorized Trading

December 13, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Murry Meir Shapero of Miami Florida a stockbroker currently registered with Maxim Group LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he placed unauthorized trades in accounts of seventy-five Maxim Group customers. Letter of Acceptance Waiver and Consent No. 2018056487801 […]

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FINRA Sanctions Ace Diversified For Failure To Supervise

Ace Diversified Capital Inc. a securities broker dealer headquartered in San Gabriel California has been censured and fined $20,000.00 by Financial Industry Regulatory Authority (FINRA) founded on findings that (1) Ace failed to supervise exchange traded funds and exchange traded notes sold by its stockbroker (2) Ace failed to create and maintain a supervision system […]

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Kalos Sued By Investors Over Alternative Investments

Joseph Patrick Roop (also known as Joepat Roop) of Belmont North Carolina a stockbroker formerly employed by Kalos Capital Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $450,000.00 in damages supported by accusations that between November of 2012 and May of 2017, the customer had been placed into […]

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David A. Noyes Sued For Unsuitable Private Placements

James Royal Kirchner of Indianapolis Indiana a stockbroker formerly registered with David A. Noyes Company is the subject of a customer initiated investment related arbitration claim in which the customer sought more than $101,000.00 in damages supported by allegations that the private placements Kirchner recommended or sold while employed by David A. Noyes were in […]

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International Assets Advisory Sanctioned For Failure To Supervise

International Assets Advisory LLC a securities broker dealer headquartered in Orlando Florida has been censured and fined $30,000.00 by Financial Industry Regulatory Authority (FINRA) founded on accusations that the securities broker dealer failed to create and implement a reasonable supervision system and written supervisory procedures for purposes of ensuring suitability or appropriateness of its stockbrokers’ […]

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Investors Sue UBS For Defective Options Strategy

Mark Laing Lichtenfeld of Florham Park New Jersey a stockbroker formerly employed by UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $850,000.00 in damages founded on allegations that (1) the customer had been provided bad advice from Lichtenfeld concerning an options overlay strategy and […]

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Lowell Company Sued By Investors For Defective ETF Investments

William Hamilton Lowell (also known as Bill Lowell) of Dallas Texas a stockbroker currently registered with Lowell Company Inc. and Crescent Securities Group Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $500,000.00 in damages founded on accusations that exchange traded fund transactions executed by the stockbroker were […]

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Triad Advisors Accused Of REIT Misrepresentation

December 13, 2019  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News, Suitability   |   0 Comments

David Arthur Hicks of Baltimore Maryland a stockbroker currently registered with Triad Advisors LLC is the subject of a customer initiated investment related complaint in which the customer sought $13,000.00 in damages based upon accusations that misrepresentations had been made by Hicks concerning real estate investment trust products he sold to the customer when associated […]

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Windsor Street Stockbroker Sanctioned For Failure To Supervise

December 13, 2019  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Anthony Pace of New York New York a stockbroker formerly registered with Windsor Street Capital LP has been fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he neglected to supervise a stockbroker who executed trades in the accounts of […]

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Investors Accuse Merrill Lynch Of Failure To Execute

December 13, 2019  |   Posted by :   |   Failure to Execute, Stockbroker Fraud News   |   0 Comments

Christopher Allan Swan of Marble Falls Texas a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related complaint on July 30, 2019 where the customer requested $16,571.62 in damages founded on allegations that the customer’s investment instructions failed to be followed as it pertained to […]

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FINRA Sanctions MetLife Stockbroker For Misrepresentation

December 13, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Jerry Michael Wells of Rochester New York a stockbroker formerly registered with MetLife Securities Inc. has been fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Wells submitted false information to MetLife in regard to customers’ annuity transactions. Letter of […]

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Chelsea Financial Sanctioned For Failure To Supervise

December 13, 2019  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Chelsea Financial Services a securities broker dealer headquartered in Staten Island New York, and Christopher Vetrano (a stockbroker and supervisor employed by Chelsea Financial Services), have been censured by Financial Industry Regulatory Authority (FINRA) based upon findings that (1) Chelsea Financial neglected to create and implement an adequate supervision system to protect against unsuitable and […]

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Investors Sue Paulson Investment Company For Fraud

John Alexander Tarpinian of New York New York a stockbroker formerly registered with Paulson Investment Company LLC and Newport Coast Securities is referenced in a customer initiated investment related arbitration claim in which the customer sought unspecified damages founded on accusations that between February of 2013 and March of 2019: (1) fiduciary obligations were breached […]

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FINRA Sanctions Morgan Stanley Stockbroker For Unsuitable Bond Trading

December 13, 2019  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

John Anthony Borsellino of Stamford Connecticut a stockbroker formerly employed by Morgan Stanley 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 consenting to findings that he gave customers bad investment advice while associated with Morgan Stanley. Letter of Acceptance […]

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Spartan Capital Sued For Breach Of Fiduciary Duty

Joseph Francis Comiskey Jr. of Ronkonkoma New York a stockbroker formerly employed by Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought $30,313.00 in damages supported by allegations that (1) fiduciary duties owed to the customer had been violated (2) the customer’s account was handled […]

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FCG Stockbroker Sanctioned For Failure To Comply

December 13, 2019  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Michael Allan Bressman of Chatham New Jersey a stockbroker formerly employed by FCG Advisors LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Bressman neglected to cooperate with FINRA’s request for his information. Case No. 2019061168201 (Nov. 4, 2019). According to FINRA Public […]

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Regulator Takes Action Against Centaurus Financial Stockbroker

December 13, 2019  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News, Structured Notes   |   0 Comments

Cindy Lucille Porto Chiellini of Lexington South Carolina a stockbroker currently registered with Centaurus Financial Inc. is the subject of a regulatory action initiated by the State of Colorado in which the regulator is seeking to bar Chiellini from engaging in securities business in the State of Colorado supported by allegations that Chiellini engaged in […]

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GPB Investors Sue For Failure to Conduct Due Diligence

Guiliano Law Group, P.C. (Philadelphia) announced that is has filed investor claims against securities broker-dealers in connection the recommendation and sale of GPB Capital, and its related entities including GPB Automotive. The Statement of Claim filed before the Financial Industry Regulatory Authority or FINRA alleges the violation of the federal securities laws, the Pennsylvania Securities […]

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Clark Nobil Owner Barred By FINRA In Investigation

December 06, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Clark Morris Nobil of Hallandale Florida a former stockbroker, sole proprietor and chief compliance officer of Clark Nobil Co. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Nobil failed to cooperate in a FINRA investigation into whether he engaged in undisclosed business activities […]

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NYLife Sued For Selling Away Alternative Investments

Joel Vincent Flaningan of Fort Wayne Indiana a stockbroker formerly employed by NYLife Securities LLC is the subject of a customer initiated investment related civil action brought in the Superior Court of Indiana in which the customer requested $29,000.00 in damages based upon accusations that (1) unfounded statements had been made by the stockbroker concerning […]

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MML Stockbroker Sanctioned For Outside Business Activity

December 06, 2019  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Alexander George Lycouris of Fort Lauderdale Florida a stockbroker formerly employed by MML Investors Services LLC has been suspended for seven months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that (1) Lycouris engaged in an outside business activity without having disclosed that information to MML when […]

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PHX Financial Accused Of Excessive Trading

Baris Cabalar (also known as Barry Calabar) of Hauppauge New York New York a stockbroker currently employed by PHX Financial Inc. is referenced in a customer initiated investment related written complaint which was settled for $185,000.00 in damages on April 10, 2019 supported by allegations that between November 5, 2018 and February 27, 2019: (1) […]

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NYLife Sanctioned For Failure To Supervise

December 06, 2019  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

NYLife Securities LLC a securities broker dealer headquartered in New York New York has been censured and fined $250,000.00 by Financial Industry Regulatory Authority (FINRA) based upon the securities broker dealer’s consent to findings that it neglected to supervise mutual fund sales executed by its stockbrokers to ensure that those sales were suitable for customers. […]

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Investors Sue Newbridge Securities Corp For Negligence

John Gerard Forrester Jr. of Boca Raton Florida a stockbroker currently registered with Newbridge Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $55,000.00 in damages supported by allegations that (1) the customer’s account was handled in a negligent manner (2) contractual obligations had been breached and […]

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National Securities Sued For Breach Of Contract

Marshall Owen Isaacson of Boca Raton Florida a stockbroker formerly registered with National Securities Corporation and Newbridge Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer requested unspecified damages based upon accusations that (1) contractual obligations had not been complied with by the stockbroker (2) fiduciary duties were […]

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Pruco Stockbroker Barred In Investigation

Joseph Viet Duy Phan of Irvine California a stockbroker formerly registered with Pruco Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Phan failed to comply with FINRA when he was investigated for (1) borrowing customers’ funds without authorization from […]

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Investors Accuse Paulson Of Failure To Sell Penny Stocks

December 06, 2019  |   Posted by :   |   Failure to Execute, Penny Stock Fraud, Stockbroker Fraud News   |   0 Comments

Eugene Lee Webb (also known as Gene Webb) of Lake Oswego Oregon a stockbroker currently registered with Paulson Investment Company LLC is the subject of a customer initiated investment related written complaint which was settled for $47,597.23 on May 3, 2019 based upon accusations that the customer’s instructions of liquidating Biotricity penny stock positions had […]

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FINRA Sanctions NYLife Stockbroker For Selling Away

December 06, 2019  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

David Quentin Kendrick of Shreveport Louisiana a stockbroker formerly registered with NYLife Securities LLC has been fined $30,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that (1) Kendrick took part in outside business activities without having informed his securities broker dealer […]

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Investors Accuse Robert Baird Of Concealing Investment Risk

December 06, 2019  |   Posted by :   |   Mutual Fund Fraud, Stockbroker Fraud News   |   0 Comments

William S. Fedor Jr. of Tucson Arizona a stockbroker currently registered with Robert W. Baird Co. Incorporated is the subject of a customer initiated investment related complaint on January 22, 2019 which was resolved for more than $10,000.00 in damages supported by allegations of Fedor failing to provide the customer with adequate information regarding the […]

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Investors Capital Corp Sued For Fraudulent REIT Sales

Carl John Grilli of Monrovia California a stockbroker formerly registered with Investors Capital Corp. is referenced in a customer initiated investment related civil action brought in the Superior Court of California in which the customer sought $89,000.00 in damages based upon allegations that (1) the customer’s account was administered negligently (2) information about investments had […]

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Commonwealth Financial Stockbroker Barred In Investigation

December 06, 2019  |   Posted by :   |   Forgery, Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Gerald Allan Eaton of Action Massachusetts a stockbroker formerly employed by Commonwealth Financial Network has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Eaton obstructed a FINRA investigation into allegations of his “unauthorized distributions” from accounts owned by customers of Commonwealth Financial Network. Letter […]

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Investors Sue Cetera Advisors For Breach Of Fiduciary Duty

Christopher Robert Hickman of Delray Beach Florida a stockbroker formerly registered with Cetera Advisors LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $1,000,000.00 in damages founded on allegations that (1) fiduciary duties were breached (2) misrepresentations had been negligently made by the stockbroker in regard to […]

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FINRA Sanctions Nationwide Stockbroker For Unauthorized Trading

December 06, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Carmelo Arce Alvarez of Hato Hey Puerto Rico a stockbroker currently registered with Nationwide Planning Associates Inc. has been fined $5,000.00 and suspended for one month from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Alvarez engaged in unauthorized trades in the accounts of Nationwide […]

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Morgan Stanley Stockbroker Discharged For Unauthorized Trading

December 06, 2019  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Robert C. David Jr. of Farmington Hills Michigan a stockbroker formerly employed by Morgan Stanley Smith Barney has been discharged by the securities broker dealer on March 5, 2019 supported by allegations that (1) David used false information about customers to effect bond transactions in their Morgan Stanley accounts and (2) trades were effected by […]

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Investors Accuse Andrew Garrett Of Unauthorized Trading

Jordan David Cooper of New York New York a stockbroker currently registered with Andrew Garrett Inc. is the subject of a customer initiated investment related written complaint which was settled to resolve allegations that between November 1, 2018 and January 31, 2019, unauthorized over-the-counter equities trades were executed in the customer’s Andrew Garrett Inc. account […]

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McNally Stockbroker Barred In Investigation

Dennis Masaaki Nakamura of Moraga California a stockbroker formerly registered with McNally Financial Services Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Nakamura neglected to follow FINRA’s instructions while he was under investigation for providing bad investment advice to customers of the […]

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Investors Accuse SunTrust Of Misrepresentation

December 06, 2019  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Arthur Lee Boyd III of Lauderdale Lakes Florida a stockbroker formerly registered with SunTrust Investment Services Inc. is referenced in a customer initiated investment related written complaint which was settled for $10,000.00 on June 13, 2019 supported by allegations that (1) Boyd made misrepresentations concerning the risks of the bonds that he sold while employed […]

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FINRA Bars MassMutual Stockbroker In Investigation

Matthew Leon White of Little Rock Arkanas a stockbroker formerly registered with MML Investors Services LLC (also known as MassMutual) has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that White neglected to comply with FINRA’s instructions during the period in which he was being […]

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Ameriprise Financial Services Stockbroker Barred In Theft Investigation

James Edward Knee (also known as Jim Knee) of Concord New Hampshire a stockbroker formerly registered with Ameriprise Financial Services Inc. is the subject of a customer initiated investment related written complaint on February 26, 2019 in which the customer requested $20,615.79 in damages based upon allegations that unfounded statements had been made concerning an […]

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Morgan Stanley Stockbroker Steals From Elderly Client To Pay Kid’s College Tuition

James S. Polese of Boston Massachusetts a stockbroker formerly registered with Morgan Stanley has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment advisor or otherwise associating with securities broker dealers or investment advisories according to an Order founded on findings of Polese pleading guilty to fraud. In the Matter […]

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IFG Sued By Investors Over Alternative Investments

Angelo Talebi of Sherman Oaks California a stockbroker formerly employed by Independent Financial Group LLC and Royal Alliance Associates Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested between $100,000.00 and $500,000.00 in damages supported by accusations that (1) false or misleading statements had been made by […]

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Investors Sue Merrill Lynch For Defective Investment Advice

Arturo Rexach Mundo of Guaynabo Puerto Rico a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith is the subject of a customer initiated investment related arbitration claim where the customer sought $7,000,000.00 in damages supported by accusations that (1) misrepresentations had been made concerning government debt investments and (2) investment recommendations made by the […]

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SEC Bars Four Points Stockbroker For Fraud

December 06, 2019  |   Posted by :   |   Churning, Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

Zachary Samuel Berkey of Melville New York a stockbroker formerly registered with Four Points Capital Partners LLC has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment advisor or otherwise associating with securities broker dealers or investment advisories according to an SEC Order supported by allegations that Berkey: (1) executed […]

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DA Davidson Sued By Investors For Bad Investment Advice

Gregory Roy Tucker of Des Moines Iowa a stockbroker currently employed by DA Davidson Co. is referenced in a customer initiated investment related arbitration claim where the customer requested $10,000,000.00 in damages based upon allegations that between 2009 and 2018: (1) the customer was charged excessive commissions (2) important information about the customer’s corporate and […]

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FINRA Bars Huntington Stockbroker For Obstruction

Wessam Baiz (also known as Wes Baiz) of Perrysburg Ohio a stockbroker formerly employed by Huntington Investment Company has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Baiz failed to cooperate with an investigation into accusations of (1) Baiz’s undisclosed outside business activities and […]

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Investors Sue Morgan Stanley For Unsuitable Bond Recommendations

Ian M. Deliz Morales of Tampa Florida a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim in which the customer requested $750,000.00 in damages based upon allegations that from August of 2014 to September of 2019, the customer had been placed into closed end fund and […]

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UBS Financial Services Sued For Unsuitable Investment Advice

Neil Kevin Klein of White Plans New York a stockbroker currently registered with UBS Financial Services Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested between $200,000 and $500,000.00 in damages founded on allegations that trades placed by the stockbroker were unsuitable which resulted in unwarranted losses and […]

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Dougherty Company Sued By Investors For Churning

Richard William Rokala Jr. of Minneapolis Minnesota a stockbroker formerly registered with Dougherty Company LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages based upon allegations that (1) the customer’s account was administered negligently (2) unauthorized trades were executed by the stockbroker (3) stock and […]

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Investors Blame Stifel Nicolaus For Unauthorized Trading

November 24, 2019  |   Posted by :   |   Bond Fraud, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Jason Andrew Taub of Florham Park New Jersey a stockbroker currently registered with Stifel Nicolaus Company Incorporated is the subject of a customer initiated investment related written complaint on May 10, 2019 in which the customer requested damages estimated to exceed $5,000.00 based upon allegations that (1) unauthorized common and preferred stock trades and corporate […]

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Bankers Life Stockbroker Barred In Investigation

Jefferey William Dyra of Naperville Illinois a stockbroker formerly employed by Bankers Life Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Dyra refused to cooperate with a FINRA investigation into accusations of his misappropriation of customer funds. Letter of Acceptance […]

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Paulson Investment Company Sued By Investors For Sale of Unregistered Securities

Minish Joe Hede (also known as Minish Mohan Hede) of New York New York a stockbroker formerly employed by Paulson Investment Company LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $500,000.00 in damages based upon accusations that the customer had been placed into unregistered and fraudulent securities […]

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SEC Bars Next Financial Stockbroker For Fraud

Douglas P. Simanski of Altoona Pennsylvania a stockbroker formerly employed by Next Financial Group Inc. has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment advisor or otherwise associating with securities broker dealers or investment advisories according to an Order containing findings that Simanski engaged in securities fraud. In the […]

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National Securities Corp Sued For Breach Of Contract

Mark Sam Kolta of New York New York a stockbroker formerly employed by National Securities Corporation is referenced in a customer initiated investment related arbitration claim in which the customer requested $750,000.00 in damages founded on allegations that (1) contractual obligations had been violated (2) fiduciary duties owed to the customer were not complied with […]

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FINRA Bars NYLife Stockbroker For Failure To Comply

November 24, 2019  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Issac Preston Onu (also known as Ajah Onu) of Atlanta Georgia a stockbroker formerly registered with NYLife Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Onu neglected to provide a response to FINRA personnel after information had been formally requested of […]

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J.P. Morgan Sued By Investors For Unauthorized Trading

Barry Steven Synder of Palm Beach Gardens Florida a stockbroker formerly registered with J.P. Morgan Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $500,000.00 in damages supported by accusations that during the period in which Synder was employed by J.P. Morgan Securities (1) unauthorized over-the-counter equities […]

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J.D. Nicholas Stockbroker Liable For Securities Fraud

November 24, 2019  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Donald Joseph Fowler of Rockville Center New York a stockbroker formerly employed by Worden Capital Management LLC and J.D. Nicholas Associates Inc. was found liable by a jury for engaging in a fraudulent investment scheme which involved Fowler’s excessive trading of customer accounts causing catastrophic losses for his customers. Securities and Exchange Commission v. Donald […]

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Morgan Stanley Sued For Unit Investment Trust Sales

Michael Frank Greenstone of Palm Beach Florida a stockbroker formerly registered with Morgan Stanley Smith Barney is referenced in a customer initiated investment related arbitration claim in which the customer requested $5,000,000.00 in damages based upon accusations that between 2013 and 2019, the customer had been placed into unit investment trust and equity products which […]

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Investors Sue Oppenheimer For Misrepresentation

Timothy Roger Atyeo of Fort Lauderdale Florida a stockbroker currently employed by Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $1,100,000.00 in damages founded on allegations that (1) misrepresentations had been made to the customer (2) fiduciary obligations were breached (3) the customer’s account was […]

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Cetera Stockbroker Sanctioned For Outside Activities

November 24, 2019  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Christopher Kozak of Highland Ranch Colorado a stockbroker formerly registered with Cetera Advisors LLC 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 he took part in outside business activities without providing required notice to Cetera […]

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Investors Accuse Morgan Stanley Stockbroker Of Unauthorized Trading

November 24, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Robert N. Newman of Los Angeles California a stockbroker currently registered with Morgan Stanley is the subject of a customer initiated investment related written complaint on May 20, 2019 where the customer sought $89,400.00 in damages founded on accusations that exchange traded funds and stocks had been traded by the stockbroker between 2005 and July […]

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SA Stone Stockbroker Sanctioned For Unauthorized Transactions

November 24, 2019  |   Posted by :   |   Promissory Notes, Stockbroker Fraud News   |   0 Comments

Christopher Todd Wendel of Celina Ohio a stockbroker formerly registered with SA Stone Wealth Management Inc. is referenced in a Cease and Desist Order issued by Ohio Division of Securities founded on allegations of Wendel having sold unregistered securities to residents in Ohio during a time that he was not licensed as a stockbroker. Case […]

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Investors Blame Money Concepts For Omissions

Dustin Paul Shafer of Boca Raton Florida a stockbroker formerly registered with Money Concepts Capital Corp. is referenced in a customer initiated investment related written complaint on September 30, 2019 where the customer requested $90,000.00 in damages founded on accusations that (1) the customer was placed into an unsuitable real estate investment trust product by […]

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Questar Sued By Investors For Unsuitable Recommendations

Jerry P. Michna of Louisville Ohio a stockbroker formerly registered with Questar Capital Corporation is referenced in a customer initiated investment related arbitration claim in which the customer sought $270,000.00 in damages supported by accusations of unsuitable energy sector stock and over-the-counter equities being sold to the customer by Michna during the period in which […]

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NYLife Terminates Stockbroker For Unsuitable Trading

November 24, 2019  |   Posted by :   |   Mutual Fund Fraud, Stockbroker Fraud News   |   0 Comments

Timothy Robert Millis of Okemos Michigan a stockbroker registered with NYLife Securities LLC has been terminated by the securities broker dealer on April 1, 2019 supported by accusations that Millis effected inappropriate and unsuitable switches of mutual funds in the accounts of NYLife Securities LLC customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that […]

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Investors Blame LPL Financial For Excessive Commissions

November 24, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Maryanne Virginia Bessler of Lynbrook New York a stockbroker currently employed by LPL Financial LLC is the subject of a customer initiated investment related written complaint on April 24, 2019 where the customer requested damages estimated to exceed $5,000.00 based upon accusations that investment recommendations made to the customer were not suitable and commissions assessed […]

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First Standard Sued By Investors For Excessive Trading

Debra Collura Bourne (also known as Debra Ann Bourne and as Debra Anne Bourne) a stockbroker formerly registered with First Standard Financial is referenced in a customer initiated investment related arbitration claim where the customer sought $2,000,000.00 in damages founded on accusations that (1) trades were executed by the stockbroker in an excessive manner during […]

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IFG Discharges Stockbroker For Unauthorized Trading

November 24, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Donald Allen Blankenship of King of Prussia Pennsylvania a stockbroker formerly registered with Independent Financial Group LLC has been discharged by the firm on October 14, 2019 based upon allegations that (1) Blankenship effected trades in the accounts of Independent Financial Group customers without having written authorization from either the customers or the securities broker […]

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Center Street Stockbroker Charged With Unauthorized Transactions

David Alan Tucker of Daytona Beach Florida a stockbroker formerly registered with Center Street Securities Inc. has been charged by Florida Office of Financial Regulation in an Administrative Complaint containing allegations that (1) Tucker engaged in outside business activities which were not disclosed to Center Street Securities and (2) Tucker sold exchange traded funds or […]

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Morgan Stanley Sued By Investors For Bad Investment Advice

Nancy Dawn Glassman (also known as Nancy Glassman-Pascual) of New York New York a stockbroker currently registered with Morgan Stanley Smith Barney is referenced in a customer initiated investment related arbitration claim where the customer sought $50,000.00 in damages supported by accusations that transactions executed in the customer’s in-house money manager account failed to be […]

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Portfolio Advisors Stockbroker Liable For Securities Fraud

November 24, 2019  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Howard Joseph Allen III of New York New York a stockbroker currently registered with Portfolio Advisors Alliance LLC is the subject of a Securities and Exchange Commission (SEC) Order Instituting Administrative Proceedings Pursuant to Securities Exchange Act of 1934 Section 15(b) regarding sanctions SEC may impose based upon Allen committing securities fraud. In the Matter […]

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Benjamin F. Edwards Stockbroker Terminated For Unauthorized Trading

November 24, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Peter Charlton Budd Jr. of Morristown New Jersey a stockbroker formerly employed by Benjamin F. Edwards Company Inc. has been terminated by the securities broker dealer on July 15, 2019 founded on allegations that (1) he effected unauthorized trades in the accounts of Benjamin F. Edwards customers and (2) he engaged in securities business without […]

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HD Vest Sued For Fraudulent Woodbridge Notes

Jerry Davis Raines of Kilgore Texas a stockbroker formerly registered with HD Vest Investment Services is referenced in a customer initiated investment related arbitration claim where the customer requested $2,250,000.00 in damages based upon accusations of Raines misrepresenting risks which pertained to Woodbridge Group of Companies investments sold to the customer during the time that […]

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Wells Fargo Stockbroker Sanctioned For Unauthorized Trading

November 24, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

Elizabeth Ann Guarino of Woodbury New York a stockbroker formerly registered with Wells Fargo Clearing Services has been fined $10,000.00 and suspended for fifteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that (1) Guarino executed unauthorized trades in a customer’s account and (2) Guarino gave […]

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Raymond James Financial Accused Of Bad Advice

November 24, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Aaron Phillip Tellez of Las Vegas Nevada a stockbroker currently employed by Raymond James Financial Services is the subject of a customer initiated investment related written complaint on August 1, 2019 where the customer requested $123,670.00 in damages supported by accusations that (1) Tellez provided the customer bad advice concerning a variable annuity and (2) […]

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Investors Sue First Allied For Breach Of Fiduciary Duty

Robert Steven Weissbein (also known as Bob Weissbein) of Davie Florida a stockbroker currently registered with First Allied Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $250,000.00 in damages founded on allegations that (1) the customer’s account was administered negligently during the period in which Weissbein […]

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FINRA Bars Cowen Stockbroker For Failure To Comply

November 24, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Gregory Charles Voetsch of New York New York a stockbroker formerly registered with Cowen Execution Services LLC (formerly known as Convergex Execution Solutions LLC) has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Voetsch neglected to comply with a FINRA investigation concerning a customer […]

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Mutual Securities Sued For Fraudulent Investments

Gary Lyle Pevey of Sacramento California a stockbroker formerly registered with Mutual Securities Inc. is referenced in a customer initiated investment related written complaint on April 29, 2019 where the customer requested $134,009.35 in damages founded on accusations that (1) the customer had been sold speculative and fraudulent investments which led the customer to experience […]

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Investors Sue Woodbury Financial For Unsuitable REITs

Robert Scott Ginsberg (also known as Bob Scott Ginsberg) of Wallingford Connecticut a stockbroker currently registered with Woodbury Financial Services Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $500,000.00 in damages based upon accusations that the customer had been placed into unsuitable business development companies (BDC) […]

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FINRA Sanctions NYLife Stockbroker For Bad Advice

November 24, 2019  |   Posted by :   |   Annuity Schemes, Mutual Fund Fraud, Stockbroker Fraud News   |   0 Comments

Timothy Robert Millis of Okemos Michigan a stockbroker formerly employed by NYLife Securities LLC has been suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Millis poorly advised customers of NYLife Securities LLC in regard to a short-term mutual fund trading […]

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Investors Sue Spartan Capital For Failure To Supervise

Thomas John Briguccia Jr. of Ronkonkoma New York a stockbroker currently registered with Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $1,911,616.00 in damages based upon accusations that (1) transactions executed by the stockbroker failed to be suitable for the customer and (2) Spartan Capital […]

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First Standard Stockbroker Barred By FINRA For Obstruction

November 24, 2019  |   Posted by :   |   Boilerroom, Stockbroker Fraud News   |   0 Comments

Philip Joseph Sparacino of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial Company LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he neglected to comply with FINRA’s requests when under the regulator’s investigation for (1) effecting unauthorized trades […]

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Investors Sue Newbridge For Alternative Investment Fraud

David Francis Faline of St. Augustine Florida a stockbroker formerly employed by Newbridge Securities Corporation is the subject of a customer initiated investment related arbitration claim in which the customer requested more than $5,000.00 in damages based upon allegations that (1) the customer’s investments were overconcentrated in alternative investments and common and preferred stocks and […]

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Waddell Reed Stockbroker Sanctioned For Customer Loan

November 24, 2019  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Cody Hawkins Fitzgerald (also known as Cody Doyle Hawkins) of Maitland Florida a stockbroker formerly registered with Waddell Reed has been fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he borrowed a customer’s funds in contravention of the policies […]

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BBVA Securities Accused Of Fraud

November 24, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Michael Joseph Kane III of Allen Texas a stockbroker currently registered with BBVA Securities Inc. is referenced in a customer initiated investment related written complaint on October 7, 2018 where the customer sought $235,000.00 in damages supported by allegations that (1) misrepresentations had been made by the stockbroker concerning certificate of deposits and (2) the […]

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Investors Sue Northwestern Mutual For Bad Investment Advice

Matthew Thomas Cochran of Charlotte North Carolina a stockbroker formerly employed by Northwestern Mutual Investment Services LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $300,000.00 in damages based upon accusations that from 2015 to 2018: (1) the customer had been provided bad investment recommendations in regard […]

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FINRA Sanctions Sigma Stockbroker For Selling Away

Fredrick Martin Randhahn (also known as Frederick Randhahn and as Fred Randhahn) of Ogden Utah a stockbroker formerly employed by Sigma Financial Corporation has been fined $5,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Randhahn engaged in undisclosed and unapproved […]

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Morgan Stanley Sued By Investors For Bad UITs

Elaine Diones Lacerte of Colorado Springs Colorado a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim which was settled for $9,500.00 in damages supported by accusations that unit investment trust transactions effected by the stockbroker were unsuitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration […]

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Raymond James Stockbroker Sanctioned For Unauthorized Trading

November 24, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

James Joseph Kearney of Houston Texas a stockbroker formerly registered with Raymond James Associates Inc. has been fined $2,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Kearney executed more than two-hundred unauthorized trades in the accounts of Raymond James customers. Letter […]

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Investors Sue RBC Capital For Failure To Supervise

Paul Vincent Blum of West Palm Beach Florida a stockbroker formerly employed by RBC Capital Markets LLC is the subject of a customer initiated investment related arbitration claim which was settled for $70,000.00 in damages supported by allegations that (1) transactions executed by the stockbroker were unsuitable and (2) the customer’s energy-sector corporate bond transactions […]

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Securities America Stockbroker Discharged For Forgery

November 24, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud 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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Concorde Stockbroker Sanctioned For Failure To Supervise

November 24, 2019  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Paul Michael Mallory of Livonia Michigan a stockbroker formerly registered with Concorde Investment Services LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity founded on findings that (1) Mallory neglected to adequately supervise the recommendations of a stockbroker to ensure that those recommendations […]

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FSC Sued By Investors For Failure To Supervise

Eric Dean Rolshoven of Florence Montana a stockbroker formerly registered with FSC Securities Corporation is the subject of a customer initiated investment related arbitration claim which was settled to resolve accusations that Rolshoven failed to supervise a stockbroker’s activities which led to inappropriate transactions being effected by the stockbroker. Financial Industry Regulatory Authority (FINRA) Arbitration […]

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Investors Sue Joseph Stone Capital For Excessive Trading

David Gene Menashe of Mineola New York a stockbroker formerly employed by Joseph Stone Capital LLC is referenced in a customer initiated investment related arbitration claim in which the customer requested $50,000.00 in damages based upon accusations that (1) fiduciary duties were breached (2) the customer’s account was administered negligently (3) misrepresentations had been made […]

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FINRA Sanctions ETC Stockbroker For Selling Away Velox Securities

Kevin Murphy of Los Angeles California a stockbroker formerly employed by Electronic Transaction Clearing Inc. has been fined $10,000.00 and suspended for seven months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Order Accepting Offer of Settlement containing findings that (1) Murphy […]

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Investors Accuse MetLife Securities Of Misrepresentation

November 24, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Prentice Valiant Chevalier Jr. (also known as Val Chevalier) of Wall Township New Jersey a stockbroker formerly registered with MetLife Securities Inc. is referenced in a customer initiated investment related written complaint on October 9, 2019 where the customer sought more than $5,000.00 in damages supported by allegations that unfounded statements had been made by […]

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LPL Stockbroker Investigated For Unauthorized Trading

November 24, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

Mark Thomas Lamkin of Louisville Kentucky a stockbroker formerly registered with LPL Financial LLC is referenced in a disciplinary action brought by the Commonwealth of Kentucky’s Department of Financial Institutions in which the regulator is seeking revocation of Lamkin’s stockbroker or advisory licensure in the state founded on allegations of Lamkin engaging in unauthorized activities […]

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Oppenheimer Sued By Investors For Misrepresentation

Eric Brian Rosenberg of Parsippany New Jersey a stockbroker currently registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $157,466.25 in damages supported by accusations that (1) unfounded statements were made by the stockbroker concerning investments and (2) investment recommendations made to the customer were […]

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Investors Accuse Merrill Lynch Of Misrepresentation

November 24, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Timothy Revell Roberson of Brentwood Tennessee a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related written complaint on February 14, 2019 in which the customer requested unspecified damages supported by allegations that unfounded statements had been made by Roberson in December of 2018 with […]

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Investors Sue Wells Fargo For Unsuitable Trading

Jeffrey Alan Eiler of Fort Lauderdale a stockbroker currently employed by Wells Fargo Clearing Services is the subject of a customer initiated investment related arbitration claim that settled for $135,000.00 in damages based upon accusations of the customer’s investment account being overconcentrated by Eiler in unsuitable mutual funds which led the customer to experience investment […]

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Baird Stockbroker Sanctioned For Private Securities Transactions

November 24, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Michael Jason Collins of Chicago Illinois a stockbroker formerly registered with Robert W. Baird Co. Incorporated has been fined $10,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Collins sold away from his securities broker dealer employer. Letter of Acceptance Waiver […]

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AXA Advisors Accused Of Bad Real Estate Investment Trusts

Chad Daniel Hornaday of Carlsbad California a stockbroker formerly registered with AXA Advisors LLC is referenced in a customer initiated investment related written complaint on May 7, 2019 in which the customer requested unspecified damages founded on allegations that the customer was placed into a real estate investment trust product that failed to be suitable. […]

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CoreCap Stockbroker Investigated By FINRA

David Lowell Knutson of Southfield Michigan a stockbroker formerly registered with CoreCap Investments Inc. is the subject of a Financial Industry Regulatory Authority (FINRA) investigation into whether Knutson violated federal securities laws or FINRA rules by engaging in outside business activities that failed to be disclosed by him to his securities broker dealer employer and […]

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Purshe Kaplan Accused Of Failure To Supervise

James Michael Casey of Palm Desert California a stockbroker formerly registered with Purshe Kaplan Sterling Investments is referenced in a customer initiated investment related written complaint on February 20, 2019 in which the customer sought $2,300,000.00 in damages based upon allegations that Purshe Kaplan Sterling Investments failed to supervise Casey’s activities which resulted in the […]

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FINRA Bars Lance Armstrong In Investigation

Lance Roman Armstrong of Columbia New Jersey a stockbroker formerly registered with Raymond James Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Armstrong neglected to comply with a FINRA investigation into allegations of his outside business activities and […]

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Principal Securities Sued For Unauthorized Transactions

John Michael Krohn (also known as John Micheal Krohn) of West Des Moines Iowa a stockbroker formerly registered with Principal Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $28,000,000.00 in damages based upon accusations that large investments in companies that Krohn owned or controlled had been solicited […]

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Investors Accuse Worth Financial Of Unsuitable ETFs

James Willard Clark of Dallas Texas a stockbroker currently registered with Worth Financial Group Inc. is the subject of a customer initiated investment related written complaint which was settled on July 15, 2019 for $38,000.00 in damages supported by allegations that recommendations of exchange traded fund transactions made by the stockbroker were not suitable and […]

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Capital City Stockbroker Barred In Investigation

Clint Harley Keener of Powell Ohio a stockbroker formerly employed by Capital City Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Keener failed to comply with an investigation into accusations of customers receiving bad investment advice from Keener. Letter of Acceptance […]

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Sara J. Saba Joins Guiliano Law Group As “Of Counsel”

November 22, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

The Guiliano Law Group, P.C. is pleased to announce that Sara J. Saba, Esquire, of Miami, Florida, has become associated with the firm in an “of-counsel” position in connection with claims against stockbrokers and securities broker-dealers on behalf of investors in Florida and throughout Central and South America, and Puerto Rico. Ms. Saba is fluent […]

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Seth M. Friedman Joins Guiliano Law Group As “Of Counsel”

November 22, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

The Guiliano Law Group, P.C. is pleased to announce that Seth M. Friedman, Esquire, of Beverly Hills, California, has become associated with the firm in an “of-counsel” position. For more than twenty years, Mr. Friedman has served as California local counsel for Nicholas J. Guiliano, and the Guiliano Law Group, in connection with the representation […]

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Investors Accuse Edward Jones Of Misrepresentation

November 22, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jeffrey Travis King of Kansas City Missouri a stockbroker formerly registered with Edward Jones is referenced in a customer initiated investment related written complaint which was resolved for $40,818.00 in damages on August 28, 2019 supported by accusations that unfounded statements had been made by the stockbroker in regards to the customer’s Edward Jones Advisory […]

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Next Financial Group Accused Of Unauthorized Trading

November 15, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Harold Mandell (also known as Hal Mandell) of San Antonio Texas a stockbroker formerly registered with Next Financial Group Inc. is the subject of a customer initiated investment related written complaint which was settled for $17,500.00 on June 20, 2019 based upon allegations that (1) Mandell executed speculative and aggressive trades in the customer’s account […]

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FINRA Bars Leaders Group Stockbroker For Selling Away

November 15, 2019  |   Posted by :   |   Promissory Notes, Selling Away, Stockbroker Fraud News   |   0 Comments

Justine Zhou (also known as Jun Zhou) of Littleton Colorado a stockbroker formerly registered with The Leaders Group Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Zhou engaged in private securities transactions which included the sale of private real estate fund membership […]

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Investors Accuse Raymond James Of Misrepresentation

November 15, 2019  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Sharon Lee Hyer of Omaha Nebraska a stockbroker currently registered with Raymond James Financial Services Inc. is the subject of a customer initiated investment related complaint on July 17, 2019 in which the customer sought $13,100.00 in damages based upon accusations that false or misleading statements had been made to the customer in regard to […]

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LPL Stockbroker Fired For Unregistered Person

November 15, 2019  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Christopher Neil Watkins of Louisville Kentucky a stockbroker registered with LPL Financial LLC has been discharged by the securities broker dealer on November 30, 2018 founded on accusations that Watkins provided compensation to an unauthorized, unregistered person who may have facilitated a securities transaction with an LPL Financial customer. Financial Industry Regulatory Authority (FINRA) Public […]

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Edward Jones Sued By Investors For Negligence

Ronald James Radner of Delray Beach Florida a stockbroker formerly employed by Edward Jones is referenced in a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages founded on accusations that (1) the customer’s individual retirement account had been invested by Radner in speculative and aggressive mutual fund investments (2) […]

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Morgan Stanley Stockbroker Sanctioned For Unauthorized Trading

November 15, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

John Gunther Hoagland of Troy Michigan a stockbroker formerly employed by Morgan Stanley 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 consenting to findings that he effected trades in the accounts of Morgan Stanley customers without authorization. Letter of […]

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Wells Fargo Advisors Accused Of Bad Investment Advice

November 15, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Donald Anthony DeVito II of Albany New York a stockbroker formerly registered with Wells Fargo Advisors is referenced in a customer initiated investment related complaint which was resolved for $47,000.00 in damages on December 14, 2018 based upon allegations of DeVito having mismanaged the customer’s equity portfolio during the time that he was associated with […]

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Ameriprise Terminates Stockbroker For Unauthorized Trading

November 15, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel Scott Burges of Southlake Texas a stockbroker formerly employed by Ameriprise Financial Services Inc. has been terminated by the securities broker dealer on July 13, 2019 which was during a time in which he had been internally investigated for effecting trades in customer accounts without authorization in violation of Ameriprise Financial Services’ compliance policy. […]

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VSR Financial Sued By Investors For Misrepresentation

Scott Vincent Kaup of Stuart Nebraska a stockbroker formerly employed by VSR Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $42,500.00 in damages based upon accusations that (1) unfounded statements and omissions had been made to the customer concerning real estate securities and direct investments (2) […]

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FINRA Sanctions FSC Stockbroker For Customer Loans

November 15, 2019  |   Posted by :   |   Customer Loans, Elder Abuse, Stockbroker Fraud News   |   0 Comments

Ralph Gerard Adamo of Newport Beach California a stockbroker formerly registered with FSC Securities Corporation has been fined $5,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Adamo impermissibly borrowed funds belonging to an FSC Securities Corporation customer. Letter of Acceptance […]

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Investors Accuse SII Investments Of Unsuitable Recommendations

Richard Scott Laskin of East Brunswick New Jersey a stockbroker formerly registered with SII Investments Inc. is the subject of a customer initiated investment related complaint on September 17, 2019 where the customer requested $57,527.00 in damages founded on accusations that unsuitable stock transactions had been executed in the customer’s investment account while Laskin was […]

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Voya Financial Advisors Accused Of Misrepresentation

November 15, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Adam David Kaplan of Scottsdale Arizona a stockbroker currently employed by Voya Financial Advisors Inc. is referenced in a customer initiated investment related written complaint on September 13, 2019 in which the customer sought $69,275.00 in damages supported by accusations that unfounded statements had been made to the customer concerning the terms and conditions of […]

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Cetera Stockbroker Charged By FINRA In Investigation

November 15, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

James Gregory McKinney (also known as Greg McKinney) a stockbroker formerly employed by Cetera Advisors LLC has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he failed to cooperate with a FINRA investigation into accusations of him engaging in trading or other activities in violation of FINRA rules. Department of […]

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Investors Sue Transamerica For Fraudulent Promissory Notes

Michael Richard Mackay of Cincinnati Ohio a stockbroker formerly employed by Transamerica Financial Advisors Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $620,000.00 in damages founded on allegations that customers had been placed into inappropriate promissory notes which Mackay effected outside the auspices of the securities broker […]

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Merrill Lynch Stockbroker Barred In Investigation

November 15, 2019  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Ma Rosa Linan Abrego (also known as Marosa Linan) of McAllen Texas a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Abrego refused to comply with FINRA’s requests while being investigated for allegedly […]

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UBS Financial Sued For Defective Options Strategy

November 01, 2019  |   Posted by :   |   FINRA Securities Arbitration, Options, Stockbroker Fraud News   |   0 Comments

Scott Michael Rosenberg of New York New York a stockbroker currently registered with UBS Financial Services Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $400,000.00 in damages supported by accusations that (1) unfounded statements had been made concerning the terms and conditions of an options overlay strategy […]

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Wells Fargo Stockbroker Sanctioned For Selling Away

November 01, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Richard Craig Berg of Chesterfield Missouri a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been fined $10,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that while registered with Wells Fargo Clearing Services: (1) Berg took part in undisclosed […]

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LPL Financial Accused Of Bad REIT Advice

Nicholas Joseph Travascio III (also known as Nicholas Joseph Tarvash III and as Nick Tarvash III) a stockbroker formerly registered with LPL Financial LLC is referenced in a customer initiated investment related written complaint which was settled for $19,000.00 on October 7, 2019 based upon accusations that real estate investment trust recommendations made to the […]

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Investors Sue Kalos Capital For Breach Of Contract

Eric Peter Weschke of Setauket New York a stockbroker currently employed by Kalos Capital is the subject of a customer initiated investment related arbitration claim in which the customer requested $127,000.00 in damages founded on accusations that (1) the customer’s assets were inappropriately invested by Weschke in private equity products including GPB when he was […]

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Western International Stockbroker Barred In Investigation

November 01, 2019  |   Posted by :   |   Mutual Fund Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Dennis Albert Mehringer Jr. of Pasadena California a stockbroker formerly registered with Western International Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Mehringer refused to comply with FINRA’s investigation into whether he effected trades that were unsuitable for customers of Western […]

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Investors Accuse Morgan Stanley Of Unauthorized Trading

Fredrika Nadja Sidoroff of New York New York a stockbroker formerly employed by Morgan Stanley is the subject of a customer initiated investment related written complaint on September 6, 2019 in which the customer sought unspecified damages supported by allegations that exchanged traded funds had been purchased in the accounts of a Morgan Stanley customer […]

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MML Investors Services Accused Of Fraud

November 01, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Leon Michael Almeida of Paramus New Jersey a stockbroker currently registered with MML Investors Services (also known as MetLife) is referenced in a customer initiated investment related complaint on August 16, 2019 in which the customer sought damages estimated to exceed $5,000.00 based upon allegations that false or misleading statements had been made in regard […]

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FINRA Bars Morgan Stanley Stockbrokers For Churning

Amy Kathryn Forte and Charles Joseph Lawrence both of Palm Harbor Florida and stockbrokers formerly employed by Morgan Stanley have been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that (1) a customer’s account had been traded excessively and churned by Lawrence while at Morgan Stanley […]

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Edward Jones Discharges Stockbroker For Unsuitable Recommendations

November 01, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Albert Lewis DeGaetano of Independence Ohio a stockbroker formerly registered with Edward Jones has been discharged by the securities broker dealer on January 25, 2019 based upon allegations that (1) transactions had been executed by DeGaetano in Edward Jones customer accounts without their knowledge or consent and (2) mutual fund and exchange traded funds trades […]

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Investors Accuse Centaurus Of Providing Defective Investment Advice

Gregory Scott Kinkead of Las Vegas Nevada a stockbroker currently registered with Centaurus Financial Inc. is referenced in a customer initiated investment related complaint on August 12, 2019 where the customer requested damages estimated to exceed $5,000.00 based upon accusations that between November of 2018 and August of 2019, the customer was provided bad investment […]

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Ameriprise Stockbroker Sanctioned For Unauthorized Trading

November 01, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Steven Tarasius Yellen of El Paso Texas a stockbroker formerly registered with Ameriprise Financial Services Inc. has been fined $25,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings which included that (1) unauthorized trades were executed in a customer’s investment account by […]

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FINRA Bars Inte Securities Stockbroker In Theft Investigation

Preston Kaishen Tsao of New York New York a stockbroker formerly registered with Inte Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Tsao failed to cooperate with a FINRA investigation into allegations of him engaging in unauthorized transactions which included taking […]

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Questar Capital Accused Of REIT Misconduct

Miaojun Yuan of City of Industry California a stockbroker formerly employed by Questar Capital Corporation is the subject of a customer initiated investment related complaint on July 15, 2019 where the customer sought damages estimated to exceed $5,000.00 supported by accusations that from 2014 to 2016, the customer had been placed into real estate securities […]

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Bolton Stockbroker Barred By SEC For Fraud

Paul Wescoe Smith of Wayne Pennsylvania a stockbroker formerly employed by Bolton Global Capital has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment advisor or otherwise associating with securities broker dealers or investment advisories according to an Order Instituting Administrative Proceedings containing findings of Smith committing securities fraud. In […]

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JP Morgan Discharges Stockbroker For Customer Loan

November 01, 2019  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Hayato Tamura (also known as Yato Tamura) of Orange California a stockbroker registered with J.P. Morgan Securities LLC has been discharged by the securities broker dealer on March 29, 2019 based upon accusations that (1) Tamura facilitated or otherwise recommended an unapproved loan arrangement between a customer of J.P. Morgan Securities LLC and a third […]

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Morgan Stanley Sued By Investors For Bad Advice

Roxann Geraldine Romano (also known as Roxann Geraldine Davanzo) of New York New York a stockbroker currently employed by Morgan Stanley is the subject of a customer initiated investment related arbitration claim where the customer sought $1,755,896.00 in damages based upon accusations that Romano gave the customer bad investment advice concerning the purchase of variable […]

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Investors Sue Raymond James For Misappropriation

Walter Dale Crossley Jr. of Merritt Island Florida a stockbroker currently registered with Raymond James Financial Services is the subject of a customer initiated investment related arbitration claim where the customer sought $1,519,773.22 in damages founded on accusations that the customer’s account was administered negligently; fiduciary duties had been violated; and the customer’s funds had […]

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FINRA Bars Thrivent Stockbroker In Theft Investigation

Daniel Joseph Arcuri Jr. of Greensburg Pennsylvania a stockbroker formerly registered with Thrivent Investment Management Inc. has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he neglected to provide recorded testimony to FINRA personnel for its investigation into allegations that (1) Arcuri misappropriated a customer’s funds and (2) Arcuri engaged […]

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Aegis Sued By Investors For Breach Of Fiduciary Duty

Thomas Duggan of Melville New York a stockbroker currently employed by Aegis Capital Corp. is the subject of a customer initiated investment related arbitration claim where the customer sought $80,000.00 in damages founded on accusations that (1) unfounded statements had been made about investments by the stockbroker (2) contractual obligations were not complied with and […]

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Investors Sue Securities America For Negligence

November 01, 2019  |   Posted by :   |   Negligence, Non-traded REITs, Stockbroker Fraud News   |   0 Comments

J. Graydon Coghlan (also known as John Coghlan and as Jack Coghlan) of San Diego California a stockbroker currently registered with Securities America is the subject of a customer initiated investment related arbitration claim in which the customer requested $5,000.00 in damages based upon accusations that (1) contractual obligations had been violated (2) the customer’s […]

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Royal Alliance Stockbroker Terminated For Unauthorized Transactions

November 01, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Harold Alan Schwartz of Lutz Florida a stockbroker formerly employed by Royal Alliance Associates Inc. has been terminated from the securities broker dealer on February 1, 2019 based upon allegations that Schwartz violated its procedures or policies through his unauthorized transactions pertaining to a customer’s investment account. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms […]

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Southeast Stockbroker Investigated For Bad Advice

November 01, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Mercer Hicks III (also known as Toby Hicks) of Charlotte North Carolina a stockbroker currently registered with Southeast Investments N.C. Inc. is the subject of an investigation initiated by Financial Industry Regulatory Authority (FINRA) in which FINRA recommended that Department of Enforcement sanction or take disciplinary action against Hicks for making unsuitable investment recommendations or […]

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Wells Fargo Stockbroker Sanctioned For Selling Away

November 01, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Robert David Meyers of Columbus Ohio a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been fined $20,000.00 and suspended for twelve months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Meyers recommended and facilitated securities transactions for customers of Wells Fargo without having […]

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Investors Accuse LPL Financial Of Unauthorized Trading

November 01, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Marcus Christian Decker of Fort Lauderdale Florida a stockbroker formerly registered with MML Investors Services LLC is the subject of a customer initiated investment related written complaint on August 23, 2019 in which the customer sought more than $10,000.00 in damages based upon accusations that (1) unauthorized transactions were effected by Decker after the customer […]

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FINRA Bars Raymond James Stockbroker In Churning Investigation

November 01, 2019  |   Posted by :   |   Churning, Excessive trading, Stockbroker Fraud News   |   0 Comments

Stuart Blake Nichols of Birmingham Alabama a stockbroker formerly registered with Raymond James Associates Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Nichols failed to make an appearance before FINRA personnel and testify regarding accusations of his excessive trading in […]

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LPL Sued For Bad BDC Recommendations

Galen Kyle Kopman of Vancouver Washington a stockbroker formerly registered with LPL Financial LLC is the subject of a customer initiated investment related arbitration claim where the customer requested $160,000.00 in damages based upon accusations that (1) unfounded statements and omissions had been made by Kopman in regards to risks of direct investments including business […]

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LPL Discharges Stockbroker For Unauthorized Trading

Steven Eric Erickson of Vancouver Washington a stockbroker formerly employed by LPL Financial LLC has been discharged by the firm on December 31, 2018 founded on accusations that (1) Erickson failed to comply with the policies and procedures of the firm by soliciting customers’ investments in unlisted and low-priced securities and (2) Erickson placed trades […]

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Investors Accuse Aegis Of Unsuitable Recommendations

Kevin Thomas Doyle of Bayside New York a stockbroker currently employed by Aegis Capital Corp. is the subject of a customer initiated investment related written complaint on September 3, 2019 where the customer requested $17,231.00 in damages founded on accusations that investment recommendations made between February 15, 2018 and August 23, 2019 were inappropriate given […]

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Joseph Stone Stockbroker Charged By FINRA With Conversion

Erik Patrick Pica (also known as Eric Patrick Pica) of New York New York a stockbroker currently registered with Joseph Stone Capital L.L.C. has been charged in a Complaint brought by Financial Industry Regulatory Authority which alleged that Pica converted funds from a customer during the period in which he was associated with Joseph Stone […]

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LPL Stockbroker Investigated For Unauthorized Trading

November 01, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

John Henry Geary of Mount Laurel New Jersey a stockbroker formerly registered with LPL Financial LLC is referenced in a Financial Industry Regulatory Authority (FINRA) investigation dated August 7, 2019 into whether Geary executed unauthorized trades in a customer’s account. According to FINRA Public Disclosure, Geary effected the sale of stock from a customer’s investment […]

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Investors Accuse ProEquities Of Unit Investment Trust Misconduct

November 01, 2019  |   Posted by :   |   Stockbroker Fraud News, Unit Investment Trusts   |   0 Comments

Roger Dale Davis of Ooltewah Tennessee a stockbroker currently employed by ProEquities Inc. is the subject of a customer initiated investment related complaint on June 27, 2019 in which the customer sought $180,000.00 in damages supported by accusations that (1) the customer had been misled by Davis as it concerned the nature of unit investment […]

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Wells Fargo Accused Of Defective Options Strategy

Lary Douglas Bloom of Woodland Hills California a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related complaint on July 23, 2019 in which the customer requested $125,000.00 in damages founded on accusations that (1) the customer had been inappropriately advised by Bloom in regard to an […]

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Wells Fargo Stockbroker Barred For Hindering Investigation

October 18, 2019  |   Posted by :   |   Options, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Stephen John Klinger (also known as Steve Klinger) of Asheville North Carolina a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Klinger failed to cooperate with FINRA personnel during its investigation into Klingler’s options […]

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Ameritas Sued By Investors For Negligence

Kristian M. Gaudet of Cut Off Louisiana a stockbroker formerly registered with Ameritas Investment Corp. is referenced in a customer initiated investment related arbitration claim where the customer sought $538,500.00 in damages supported by accusations that (1) the customer’s account was administered negligently (2) Ameritas Investment Corp. failed to supervise Gaudet’s activities and (3) private […]

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Investors Accuse Wells Fargo Of Unauthorized Trading

Sam Azizieh (also known as Sam Aziz and as Sam Yehya) a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC is the subject of a customer initiated investment related written complaint on June 27, 2019 where the customer sought $447,000.00 in damages supported by accusations that during the period in which Azizieh was […]

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FINRA Bars Benjamin F. Edwards Stockbroker In Investigation

October 18, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

Maureen Ann Scalzo (also known as Maureen Ann Hunt) of Danbury Connecticut a stockbroker formerly registered with Benjamin F. Edwards Company Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Scalzo refused to make an appearance and provide recorded testimony before FINRA personnel […]

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First Standard Financial Sued For Excessive Trading

Andre Pierre Davis of New York New York a stockbroker formerly registered with First Standard Financial Company LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $350,000.00 in damages founded on accusations that (1) transactions were not authorized (2) investments were neither appropriate nor suitable for the […]

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Investors Accuse Kovack Of Mutual Fund Misconduct

Jeffrey Paul Davis of Bristol Connecticut a stockbroker currently registered with Kovack Securities Inc. is the subject of a customer initiated investment related written complaint on June 10, 2019 in which the customer requested more than $5,000.00 in damages based upon accusations that (1) the customer was placed into inappropriate investments including mutual funds and […]

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National Securities Corp Sued For Misrepresentation

John Joseph Labarca of Edison New Jersey a stockbroker formerly registered with National Securities Corporation is the subject of a customer initiated investment related arbitration claim in which the customer requested $80,000.00 in damages supported by allegations that (1) misrepresentations had been made about investments (2) the customer’s account was handled in a negligent manner […]

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Financial West Stockbroker Barred For Churning

October 18, 2019  |   Posted by :   |   Churning, Excessive trading, Stockbroker Fraud News, Suitability   |   0 Comments

Daniel Gordon Maughan (also known as Dan G. Maughan) of Los Angeles California a stockbroker formerly registered with Financial West Group has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Order Accepting Offer of Settlement that contained findings of Maughan having […]

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Investors Sue Presidential Brokerage For Fraud

Gregory Jon Williams (also known as Greg Williams) of Greenwood Village Colorado a stockbroker currently registered with Presidential Brokerage Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $578,821.00 in damages supported by allegations that (1) fiduciary obligations failed to be complied with by Williams (2) fraudulent transactions […]

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Cambridge Stockbroker Sanctioned For Deceptive Practices

Dale Edward Wright of Henrico Virginia a stockbroker formerly registered with Cambridge Investment Research has been fined $50,000.00 by the Commonwealth of Virginia State Corporation Commission Bureau of Insurance according to an Order based upon findings that Wright inappropriately recommended that customers purchase insurance policies and use them as investment vehicles; conduct violative of Code […]

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Investors Sue SunTrust For Misrepresentation

Todd Joseph Thompson of Atlanta Georgia a stockbroker currently registered with SunTrust Investment Services Inc. is the subject of a customer initiated investment related written complaint on March 27, 2019 where the customer requested $19,367.00 in damages founded on allegations that false or misleading statements were made about terms of an equity indexed annuity that […]

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FINRA Bars LPL Stockbroker In Unauthorized Trading Investigation

October 18, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Louis Mark Miller of Jericho New York a stockbroker formerly registered with LPL Financial LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings of Miller having failed to comply with FINRA personnel during the period in which he was investigated for effecting discretionary trades […]

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Infinex Sued By Investors For Bad REIT Recommendations

Tamara Ann Dawson (also known as Tamara Gallegos and as Tamara Haselby) of Boynton Beach Florida a stockbroker formerly registered with Infinex Investments Inc. is the subject of a customer initiated investment related arbitration claim which was settled to resolve allegations that she made unsuitable real estate investment trust recommendations to her customers during the […]

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Investors Sue Wells Fargo For Unsuitable Investment Advice

Harold Weber of Airmont New York a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $15,000.00 in damages based upon allegations that unfounded statements had been made about investments sold to the customer during the period in which Weber was […]

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MSI Stockbroker Sanctioned By FINRA For Forgery

October 18, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

Mark Andrew Cramer of LaRue Ohio a stockbroker currently registered with MML Investors Services LLC (formerly known as MSI Financial Services LLC) has been fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings of customer’s signatures having been forged by Cramer […]

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Oppenheimer Sued By Investors For Breach of Fiduciary Duty

Michael Robert Greenfield of Boca Raton Florida a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $200,000.00 in damages supported by allegations that (1) fiduciary duties owed by the stockbroker were breached (2) contractual obligations had not been complied with (3) […]

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Regulator Sanctions Stockbroker For REIT Misconduct

October 18, 2019  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Satya Brata Shaw (also known as Satyabrata Shaw) of Wesley Chapel Florida a stockbroker formerly registered with Center Street Securities has been issued an Order by Florida Office of Financial Regulation in which he was fined and required to cease and desist from engaging in conduct violative of Florida securities laws and administrative rules supported […]

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Investors Sue Henley Company For Failure To Supervise

Mitchell Allen Kurtz (also known as Mitch Allen Kurtz) of Roslyn Heights New York a stockbroker formerly registered with Henley Company LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $691,367.14 in damages based upon accusations that Henley Company LLC failed to supervise Kurtz’s activities or trades […]

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Merrill Lynch Sued By Investors For Omissions

October 18, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Robert Thomas Steck of Great Neck New York a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim which was resolved for $160,000.00 in damages based upon allegations that fees relating to over-the-counter equities transactions had not been disclosed (2) misrepresentations were made […]

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Wells Fargo Stockbroker Sanctioned For Unauthorized Trading

October 18, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Charles Harper Bridgers of Wilson North Carolina a stockbroker formerly registered with Wells Fargo Clearing Services has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) trades were executed by Bridgers in the account of a Wells Fargo customer […]

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Investors Accuse Country Capital Of Stockbroker Theft

Adam Michael Lopez of Springfield Illinois a stockbroker formerly registered with Country Capital Management Company is referenced in a customer initiated investment related written complaint which was resolved for $359,846.25 on June 11, 2019 founded on accusations that Lopez embezzled nearly all of the customer’s assets during the period in which he was employed by […]

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Spartan Capital Securities Sued For Churning

Joseph Patrick Fuller of New York New York a stockbroker formerly registered with Spartan Capital Securities is the subject of a customer initiated investment related arbitration claim in which the customer requested $6,645,956.00 in damages based upon accusations that (1) fiduciary duties owed to the customer had been breached (2) misrepresentations were made by the […]

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FINRA Bars First Command Stockbroker For Obstruction

October 18, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

Elton Norman of Enterprise Alabama a stockbroker formerly registered with First Command Financial Planning Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he neglected to provide documentation and information to FINRA during an investigation into whether the stockbroker forged or […]

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Woodstock Financial Group Accused Of Unauthorized Trading

David B. Min of East Rutherford New Jersey a stockbroker formerly registered with Woodstock Financial Group Inc. is the subject of a customer initiated investment related written complaint on March 8, 2018 in which the customer requested $600,000.00 in damages based upon allegations that (1) over the counter equity trades had been effected in the […]

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LPL Stockbroker Sanctioned For Unauthorized Trading

October 14, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jeffrey Lawrence Vasiloff of Vermilion Ohio a stockbroker formerly employed by LPL Financial LLC has been fined $2,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that trades were executed by Vasiloff on a discretionary basis and without the stockbroker receiving written permission from customers […]

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Investors Sue Oppenheimer For Securities Fraud

Cesar Augusto Hurtado of Miami Florida a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $100,000.00 in damages based upon allegations that (1) unfounded statements had been made to the customer concerning energy sector equities and options (2) the customer’s account was […]

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FINRA Sanctions Oberon Stockbroker For Selling Away

October 14, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Peter Gary Plaut of Orinda California a stockbroker formerly registered with Penserra Securities LLC and Oberon Securities LLC has been fined $7,500.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that (1) Plaut engaged in outside business activities during the period in […]

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Investors Accuse BancWest Of Bad Annuity Recommendations

James Joseph Beaupre (also known as Jim Beaupre) of Longmont Colorado a stockbroker formerly registered with BancWest Investment Services Inc. is referenced in a customer initiated investment related written complaint which was settled on September 21, 2017 to resolve allegations that the customer had been inappropriately placed in annuity policies issued through Principal, Jackson and […]

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Morgan Stanley Stockbroker Barred In Theft Investigation

Michael Barry Carter of McLean Virginia a stockbroker formerly registered with Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Carter failed to comply with FINRA personnel when an investigation was commenced by the regulator into allegations of Carter’s misappropriation […]

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Investors Accuse Edward Jones Of Bad Investment Advice

October 14, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Brian D. Addis of Vandalia Ohio a stockbroker formerly employed by Edward Jones is the subject of a customer initiated investment related complaint on June 27, 2017 in which the customer sought more than $5,000.00 in damages founded on allegations that Addis provided the customer with bad advice in regard to the transition of the […]

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Janney Montgomery Scott Stockbroker Barred For Stealing $411,000

Apostolos Nicolas Pitsironis (also known as Paul Pitsironis) of Melville New York a stockbroker formerly registered with Janney Montgomery Scott LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that a customer’s $411,000.00 in funds had been converted by Pitsironis when he was associated […]

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Cetera Stockbroker Terminated For Unsuitable Trading

Peter Gerhard Klaass of Las Vegas Nevada a stockbroker formerly employed by Cetera Advisor Networks has been terminated from employment on April 18, 2018 based upon allegations of Klaass being statutorily disqualified from being an investment adviser representative in the State of Colorado. Klaass’ investment advisor representative registration in the State of Colorado was revoked […]

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FINRA Bars Forest Securities Stockbroker In Unauthorized Trading Investigation

October 14, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jack David Stone of Hillside Illinois a stockbroker and securities principal formerly registered with Forest Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Stone neglected to provide recorded testimony before FINRA personnel when he was investigated by the regulator […]

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Hornor Stockbroker Sanctioned For $5.3 Million In Unauthorized Trading

October 14, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Clay Gavin Erickson of Salt Lake City Utah a stockbroker formerly employed by Hornor Townsend Kent Inc. has been fined $7,500.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Erickson effected transactions in Hornor Townsend customers’ accounts without any permission from […]

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Ace Diversified Capital Sanctioned For Failure To Supervise

Ace Diversified Capital Inc. a securities broker dealer headquartered in San Gabriel California has been censured and fined $20,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that (1) Ace failed to supervise recommendations of non-traditional exchange traded notes and exchange traded funds recommended by one of its stockbrokers (2) Ace neglected to supervise […]

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FINRA Bars Deadbeat Worden Stockbroker For Failure To Pay Arbitration Award

October 14, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Elvin J. Lopez of New York New York a stockbroker formerly registered with Worden Capital Management LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Lopez failed to confirm with FINRA whether he met his obligation to pay compensatory damages to a customer […]

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Investors Sue Titus Rockefeller For Fraud

David Michael Levy of Wellington Florida a stockbroker formerly registered with Titus Rockefeller LLC (also known as TR Capital Group LLC) is the subject of a customer initiated investment related arbitration claim where the customer requested $1,554,000.00 in damages founded on accusations that (1) fiduciary duties were not complied with (2) the extension of margin […]

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FINRA Bars Dakota Stockbroker For Failure To Pay Arbitration Award

October 14, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Christopher Russell McNamee (also known as Christian Russell McNamee) of Miami Florida a stockbroker formerly registered with Dakota Securities International Inc. has been sanctioned by Financial Industry Regulatory Authority (FINRA) on August 17, 2017 supported by allegations of McNamee’s failure to inform the regulator about whether he complied with his obligations to pay a customer […]

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Investors Sue Questar Capital Over Annuity Scheme

Elaine Marie Zito of Scottsdale Arizona a stockbroker formerly registered with Questar Capital Corporation is referenced in a customer initiated investment related arbitration claim in which the customer requested $87,397.47 in damages founded on accusations of the customer being placed into investments including fixed and variable annuities which were not appropriate for the customer during […]

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FINRA Sanctions Harbor Lights Stockbroker For Failure To Pay Award

Christopher Lee Goslin of Tampa Florida a stockbroker formerly registered with Harbor Lights Securities LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Goslin failed to comply with his obligation to pay a FINRA Arbitration Award to two customers who suffered losses because […]

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IAA Stockbroker Barred By FINRA Following Criminal Conviction

October 14, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Maroof Miyana of Pompano Beach Florida a stockbroker formerly employed by IAA Financial LLC has been suspended on March 26, 2018 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Miyana neglected to furnish information to FINRA personnel in regard to his compliance with a customer initiated […]

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FINRA Sanctions Meyers Stockbroker For Non-Compliance

Michael Scott Lavolpe of New York New York a stockbroker formerly registered with Meyers Associates L.P. has been sanctioned by Financial Industry Regulatory Authority (FINRA) on July 25, 2019 founded on accusations of Lavolpe’s failure to comply with a customer initiated investment related arbitration award. #deadbeat In particular, Lavolpe was subject of a customer initiated […]

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Investors Accuse Cetera Of Energy Sector Overconcentration

Abraham Heimann of Alpharetta Georgia a stockbroker formerly registered with Cetera Advisors LLC is referenced in a customer initiated investment related arbitration claim that was resolved for $42,500.00 in damages founded on accusations that fiduciary obligations to the customer were breached and the customer’s account had been negligently administered. FINRA Arbitration No. 17-02785 (Dec. 26, […]

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SEC Bars First Standard Stockbroker For Fraud

William Christian Gennity of Staten Island New Jersey a stockbroker formerly registered with First Standard Financial Company has been barred from being a stockbroker or investment advisor or otherwise associating with investment advisories or securities broker dealers according to an SEC Order containing findings that Gennity defrauded investors. In the Matter of William C. Gennity […]

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Morgan Stanley Stockbroker Barred For Obstruction

October 14, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

Kevin Scott Gunnip of Southlake Texas a stockbroker formerly employed by Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Gunnip neglected to provide testimony before FINRA personnel when the stockbroker was investigated for allegedly effecting unsuitable trades in customer […]

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Stifel Nicolaus Sued By Investors For Misrepresentation

Aaron Chaim Lupuloff of Atlanta Georgia a stockbroker formerly employed by Stifel Nicolaus Company Incorporated is referenced in a customer initiated investment related arbitration claim where the customer sought $3,200,000.00 in damages supported by accusations that (1) the customer had been placed into corporate bonds through a private placement executed by Lupuloff and (2) fraudulent […]

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Electronic Transaction Clearing CEO Charged With Selling Away

October 14, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Kevin Murphy of Los Angeles California the former President and Chief Executive Officer of Electronic Transaction Clearing Inc. (ETC) has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Murphy engaged in a private securities transaction without the permission of ETC. Department of Enforcement v. Kevin J. Murphy […]

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Investors Sue Maxim Group For Fraud

October 14, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Michael Gary Solomon of New York New York a stockbroker currently registered with Maxim Group LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $50,000.00 in damages supported by allegations that (1) commissions or fees charged to the customer for stock trades had not been disclosed by Solomon […]

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FINRA Charges PHX Stockbroker With Churning

October 14, 2019  |   Posted by :   |   Boilerroom, Churning, Excessive trading, Stockbroker Fraud News   |   0 Comments

Halil Kozi (also known as Hal Kozi) of New York New York a stockbroker, options trader and supervisor formerly registered with PHX Financial Inc. has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that (1) Kozi recommended bad trades to a customer of PHX and (2) Kozi churned […]

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Investors Accuse NYLife Of Bad Securities

Michael Andrew Norman of Reno Nevada a stockbroker formerly registered with NYLife Securities LLC is referenced in a customer initiated investment related written complaint on April 18, 2019 in which the customer sought damages estimated to exceed $5,000.00 founded on accusations that the customer was placed into a variable annuity by Norman that failed to […]

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Merrill Lynch Fires Wayward Stockbroker Only After Losing $40 Million Customer Case

Charles Ernest Kenahan of Boston Massachusetts a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been discharged by the securities broker dealer on July 9, 2019 supported by accusations that (1) unauthorized trades were executed in a customer’s account by Kenahan (2) investment recommendations made by the stockbroker failed to be suitable […]

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Wells Fargo Accused Of Misrepresentation

October 14, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Glen Joseph Webster of Atlanta Georgia a stockbroker formerly registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related complaint on March 25, 2019 where the customer requested damages estimated to exceed $5,000.00 founded on accusations that (1) the customer was provided false information about investments and (2) there […]

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Cantella Stockbroker Barred In FINRA Investigation

October 14, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Donald Edward Teboe of Clinton Michigan a stockbroker formerly employed by Cantella Co. Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Teboe refused to cooperate with FINRA personnel during a time that he was under investigation for effecting unsuitable trades in accounts […]

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Investors Sue SW Financial For Fraud

James Robert Pecoraro of Melville New York a stockbroker currently employed by SW Financial is referenced in a customer initiated investment related arbitration claim which was resolved for $36,000.00 in damages based upon allegations that Pecoraro (1) misrepresented information concerning the customer’s equity transactions (2) effected unauthorized trades (3) breached his fiduciary duty to the […]

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Geneos Stockbroker Barred In FINRA Investigation

October 14, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Randolph Lee Eddlemon III (also known as Randy Eddlemon) of Scottsdale Arizona a stockbroker formerly registered with Geneos Wealth Management Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Eddlemon neglected to cooperate with FINRA’s information request. Case No. 2017055260401 (Mar. 22, 2018). […]

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Capital Financial Accused Of Bad Alternative Investment Recommendations

Lloyd Mark Johnston of Spokane Washington a stockbroker formerly employed by Capital Financial Services is referenced in a customer initiated investment related complaint on October 22, 2018 in which the customer requested damages estimated to exceed $5,000.00 supported by allegations that the customer had been sold an unsuitable alternative investment while Johnston was associated with […]

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Investors Accuse Hennion Walsh Of Bad Investment Advice

Sean Michael Logue of Parsippany New Jersey a stockbroker currently registered with Hennion Walsh Inc. is the subject of a customer initiated investment related written complaint which was resolved for $10,000.00 on May 9, 2019 based upon accusations of bad mutual fund investment recommendations being made to the customer which resulted in the customer purchasing […]

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FINRA Sanctions J.P. Morgan Stockbroker For Customer Loan

October 14, 2019  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Shirley Anne Weston (also known as Shirley Craft and as Shirley Schaeffer) of J.P. Morgan Securities LLC has been fined $7,500.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Weston impermissibly borrowed money from a customer while she was employed with […]

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Raymond James Sued For Breach Of Fiduciary Duty

David Lewis Capin of Kingston Pennsylvania a stockbroker formerly registered with Raymond James Financial Services and Summit Brokerage Services is the subject of a customer initiated investment related arbitration claim which was resolved for $60,000.00 in damages supported by allegations that (1) fiduciary duties had been breached (2) the customer’s account had been handled with […]

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Investors Sue Morgan Stanley For Churning

Paul William Lascelle of Flemington New Jersey a stockbroker formerly registered with Morgan Stanley Smith Barney is the subject of a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages supported by accusations that unit investment trust, stock and mutual fund trades had been executed in the customer’s account in excessive […]

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Morgan Stanley Sued By Investors For Failure To Supervise

Jeffrey Sean Crystal of Paramus New Jersey a former stockbroker and branch manager of Morgan Stanley is referenced in a customer initiated investment related arbitration claim which was settled for $2,193,015.00 in damages founded on allegations that the financial advisor mismanaged the customer’s account; and trades executed in the customer’s account were not supervised by […]

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FINRA Sanctions J.P. Morgan Stockbroker For Selling Away

October 14, 2019  |   Posted by :   |   Promissory Notes, Selling Away, Stockbroker Fraud News   |   0 Comments

Robert Patrick Pachciarz of Naperville Illinois a stockbroker formerly employed by J.P. Morgan Securities LLC has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Pachciarz took part in undisclosed private securities transactions involving the sale of a $500,000.00 […]

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Investors Sue LPL Financial For Bad Leveraged ETFs

Michael Alexander Hanson of La Mirada California a stockbroker formerly employed by LPL Financial LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $400,000.00 in damages supported by accusations that the customer had been placed into leveraged exchange traded funds which failed to align with the customer’s objectives for […]

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Stifel Nicolaus Stockbroker Discharged For Mishandling Funds

Andrew Bruce Elsoffer of Pepper Pike Ohio a stockbroker formerly registered with Stifel Nicolaus Company Inc. has been discharged by the securities broker dealer on October 16, 2018 based upon accusations that Elsoffer failed to comply with rules or procedures regarding the handling of customer funds and (2) Stifel Nicolaus lost confidence in Elsoffer because […]

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WFG Investments Sued For Private Placement Fraud

David Wilson Williams of Dallas Texas a stockbroker and supervisor formerly registered with WFG Investments Inc. is the subject of a customer initiated investment related arbitration claim where the customer was awarded $50,000.00 in compensatory damages based upon Williams being found liable on the customer’s claims which included that (1) contractual obligations to the customer […]

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Summit Stockbroker Barred In Selling Away Investigation

Thomas Stappas of Parsippany New Jersey a stockbroker formerly registered with Summit Equities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Stappas failed to comply with FINRA staff during an investigation into accusations of (1) undisclosed private securities transactions being […]

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Primex Sued By Investors For Unsuitable REITs

Wilfredo Felix Jr. of New York New York the President and Chief Executive Officer of Primex is the subject of a customer initiated investment related arbitration claim where the customer sought unspecified damages founded on accusations that the customer had been placed into UpREIT – a real estate security which was not appropriate or suitable. […]

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SEC Charges Wells Fargo Stockbroker With $1.6 Million Theft

Herbert H. Hafen (also known as Elias Herbert Hafen and as E. Herbert Niggebrugge) of New York New York a stockbroker and investment adviser representative formerly registered with Wells Fargo Clearing Services LLC and Morgan Stanley has been charged by Securities and Exchange Commission (SEC) in a Complaint alleging that Hafen engaged in a fraudulent […]

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More Defective REIT Cases Pile Up Against Berthel Fisher

William Charles Sines (also known as Bill Sines) of Seminole Florida a stockbroker currently registered with Berthel Fisher Company Financial Services Inc. is the subject of a customer initiated investment related complaint on July 23, 2019 in which the customer sought $38,651.89 in damages founded on allegations that unsuitable investment recommendations and high pressure sales […]

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Independent Financial Group Sued By Investors For Bad REITs

Shimshon Plotkin (also known as Shim Plotkin) of Chevy Chase Maryland a stockbroker currently registered with Independent Financial Group is the subject of a customer initiated investment related arbitration claim in which the customer sought as much as $1,000,000.00 in damages based upon accusations that the customer had been placed in alternative investments including real […]

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Newbridge Sanctioned By FINRA For Failure To Supervise

Newbridge Securities Corporation a securities broker dealer headquartered in Boca Raton Florida, and Bruce H. Jordan (Director of Investment Banking), have been censured by Financial Industry Regulatory Authority (FINRA) based upon findings that (1) Newbridge failed to supervise structured products sold to customers of the firm (2) Newbridge failed to supervise non-traditional exchange traded fund […]

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UBS Sued By Investors For Defective Options Strategy

Matthew Stern Buchsbaum of New York New York and Stamford Connecticut a stockbroker currently registered with UBS Financial Services is referenced in a customer initiated investment related arbitration claim in which the customer sought $600,000.00 in damages based upon accusations that (1) unsuitable recommendations had been made by Buchsbaum concerning the purchase and retention of […]

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IFG Stockbroker Charged By FINRA With Conversion

October 14, 2019  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Martin David Batstone (also known as Marty Batstone) of San Diego California a stockbroker formerly registered with Independent Financial Group has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Batstone converted a customer’s funds and engaged in securities transactions away from the securities broker dealer. Department of […]

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Investors Sue Alexander Capital Rogue Stockbroker

Ryan Michael Murnane of New York New York a stockbroker formerly employed by Alexander Capital L.P. is referenced in a customer initiated investment related arbitration claim where the customer requested $1,800,000.00 in damages supported by accusations that (1) recommendations of leveraged exchange traded funds and oil and gas investments were in no way suitable for […]

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Wells Fargo Stockbroker Barred For Private Securities

Joseph Hersey Pratt II (also known as Joseph Hersey Butcher) of Conshohocken Pennsylvania a stockbroker formerly registered with Wells Fargo has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based in part on findings that Pratt executed private securities transactions during the time that he was employed by […]

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Merrill Lynch Sued By Investors For Misrepresentation

Richard Bruce Sladek (also known as Dick Sladek) of Coeur D’Alene Idaho a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith incorporated is referenced in a customer initiated investment related arbitration claim where the customer requested unspecified damages founded on accusations of false or misleading statements in regard to real estate securities or investments […]

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Investors Sue HJ Sims For Serial Fraudster

Larry Charles Wolfe of Boca Raton Florida a stockbroker formerly registered with Herbert J. Sims Co. Inc. (also known as HJ Simms) was named in a customer initiated investment related arbitration claim in which he was ordered by a Financial Industry Regulatory Authority (FINRA) Arbitration Panel to pay $480,000.00 in compensatory damages to a customer […]

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FINRA Bars IFS Stockbroker For Hindering Investigation

October 14, 2019  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Keith Wakefield of Chicago Illinois a stockbroker formerly employed by IFS Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Wakefield’s consent to findings that he failed to cooperate with a FINRA investigation into accusations of him effecting fraudulent trades while associated with IFS Securities. […]

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Investors Sue American Portfolio Financial For Fraud

Jimmy William Kuhn of Smithtown New York a stockbroker registered with American Portfolios Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought damages estimated to exceed $5,000.00 founded on accusations that fiduciary duties were breached; contractual obligations to the customer had been violated; trades failed to be […]

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Investors Sue Hennion Walsh For Defective Investment Advice

William Hennion of Parsippany New Jersey a stockbroker currently registered with Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $300,000.00 in damages supported by allegations that between 2015 and 2018, the customer was provided poor investment advice from Hennion as it pertained to investments […]

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FINRA Charges Wells Fargo Stockbroker With Selling Away

October 14, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

David Manor of Boston Massachusetts a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that (1) Manor engaged in undisclosed outside business activities (2) Manor effected options transactions that were not suitable for the customer and (3) Manor sold away from […]

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National Securities Corp Sued For Breach Of Fiduciary Duty

James J. Mariani of Mineola New York a stockbroker formerly registered with National Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $467,000.00 in damages supported by accusations that (1) fiduciary duties failed to be complied with and (2) real estate security transactions executed in the customer’s […]

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Moloney Securities Sued For Alternative Investment Fraud

Joseph John Weinrich Sr. of Overland Park Kansas a stockbroker formerly registered with Moloney Securities Co. Inc. is referenced in a customer initiated investment related civil action brought in the Circuit Court of Jackson County Missouri where the customer sought $225,000.00 in damages based upon accusations of (1) nondisclosures concerning the risks of venture capital […]

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Western International Stockbroker Sentenced In Ponzi Scheme

Bradley Carl Mascho of Frederick Maryland a stockbroker formerly employed by Western International Securities Inc. and former Chief Financial Officer of DJB Holdings was sentenced on August 28, 2019 to thirty months in prison for (1) conspiracy to commit securities fraud in reference to his alleged solicitation and receipt of funds from investors for purchases […]

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Investors Sue Stifel Nicolaus For Excessive Trading

Patrick John McLaughlin of Boca Raton Florida a stockbroker currently registered with Stifel Nicolaus Company Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $300,000.00 in damages based upon accusations that (1) stock trades were executed on an excessive basis and (2) unauthorized over-the-counter equities transactions were effected […]

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Lowell Company Sued For Exchanged Traded Fund Trading Misconduct

Jody Bryant Bowers of Abilene Texas a stockbroker formerly employed by Lowell Company Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages supported by accusations that (1) exchanged traded funds had been misrepresented and (2) the customer was provided with bad investment recommendations […]

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FINRA Sanctions USA Securities Corp Stockbroker For Forgery

October 14, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News, Suitability   |   0 Comments

Brian Daniel Parker of Covington Louisiana a stockbroker formerly registered with USA Financial Securities Corporation has been fined $10,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Parker caused USA Financial Securities Corporation customer account documentation to be falsified […]

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Geneos Sued By Investors For Defective REIT Recommendations

Joseph Sylvester Sturniolo (also known as Joe Sturniolo) a stockbroker currently registered with Geneos Wealth Management Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $237,500.00 in damages based upon accusations that the customer had been provided bad investment advice from Sturniolo with regard to investments including multiple non-traded […]

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Investors Sue National Securities Corp For Fraud

Todd Joseph Henrich of Iselin New Jersey a stockbroker formerly employed by National Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer was awarded $14,441.79 in compensatory damages based upon Henrich being found liable on the customer’s claims of (1) misrepresentations concerning the terms or risks of investments […]

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SEC Charges LPL Stockbroker With Ponzi Scheme

James Thomas Booth of Norwalk Connecticut a stockbroker formerly registered with both LPL Financial LLC and Invest Financial Corporation and the founder of Booth Financial Associates has been charged by Securities Exchange Commission (SEC) in a Complaint alleging that Booth engaged in a Ponzi scheme in which forty investors were defrauded. SEC v. James T. […]

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Voya Sued By Investors For Bad Alternative Investments

James Travis Flynn of Greenville South Carolina a stockbroker formerly registered with Voya Financial Advisors Inc. is the subject of a customer initiated investment related complaint on August 26, 2019 in which the customers requested damages estimated to exceed $5,000.00 supported by allegations that (1) real estate security and direct investments failed to comport with […]

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Voya Sued By Investors For Bad Alternative Investments

Gregory Scott Young of Columbia South Carolina a stockbroker formerly employed by Voya Financial Advisors Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought between $50,000.00 and $100,000.00 in damages supported by accusations that the customer had been placed into structured steepener notes and alternative investment products that failed […]

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Regulator Investigates AISG Stockbroker Unlawful Transactions

Thomas Joseph Logue Jr. of Hinsdale Illinois a stockbroker formerly registered with American Independent Securities Group LLC is the subject of a regulatory action initiated by the Illinois Securities Department in reference to allegations of Logue’s failure to provide documentation to the regulator after he was subpoenaed during an investigation into his potentially unsuitable and […]

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Investors Sue SW Financial For Churning

Dimitrios Aivaliotis (also known as Jim Aivaliotis and as Jimmy Aivaliotis) of Melville New York a stockbroker formerly registered with SW Financial is referenced in a customer initiated investment related arbitration claim which was resolved for $14,999.00 in damages supported by allegations that (1) trades were effected without authorization (2) contractual obligations had been violated […]

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FINRA Bars MSI Stockbroker In Fake Securities Investigation

October 14, 2019  |   Posted by :   |   Ponzi Scheme, Securities Fraud, Stockbroker Fraud News   |   0 Comments

Benjamin Benoit Lowder Jr. of Charlotte North Carolina a stockbroker formerly registered with MSI Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Lowder failed to cooperate with a FINRA investigation into accusations of his potentially fraudulent trading practices. Letter of […]

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Purshe Kaplan Terminates Stockbroker During Investigation

Brian John Bogart of McClean Virginia a stockbroker formerly registered with Purshe Kaplan Sterling Investments has been terminated from the securities broker dealer on February 4, 2019 during the time that he was under investigation by both Financial Industry Regulatory Authority (FINRA) and Purshe Kaplan Sterling Investments for possibly selling away from the securities broker […]

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Investors Accuse Ameriprise Of Providing Bad Investment Advice

Richard Paul Martin of Wappinger Falls New York a stockbroker currently registered with Ameriprise Financial Services Inc. is the subject of a customer initiated investment related complaint on April 29, 2019 where the customer requested $13,763.63 in damages based upon allegations of the customer being poorly advised by Martin in regard to the purchase of […]

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Whitehall Parker Stockbroker Sanctioned For Selling Away

October 14, 2019  |   Posted by :   |   Securities Fraud, Selling Away, Stockbroker Fraud News   |   0 Comments

James Marten Lamont of San Francisco California a stockbroker currently employed by Whitehall-Parker Securities Inc. has been fined $10,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Lamont sold promissory notes investments in Woodbridge Group of Companies LLC outside the auspices […]

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Triad Advisors Accused Of Bad Investment Advice

October 14, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Timothy Brian Kenyon of Somerville New Jersey a stockbroker currently registered with Triad Advisors LLC is referenced in a customer initiated investment related written complaint on April 30, 2019 where the customer requested $70,000.00 in damages founded on allegations that the customer was placed into an investment strategy which failed to be suitable for the […]

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LPL Stockbroker Terminated For Outside Activities

October 14, 2019  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Andre Kapulenui Kaluna of Avondale Arizona a stockbroker formerly registered with LPL Financial LLC has been terminated from the securities broker dealer on February 8, 2019 based upon accusations that Kaluna engaged in outside business activities which had not been disclosed to LPL Financial LLC. FINRA Public Disclosure confirms that Kaluna is referenced in three […]

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Investors Sue Vestech For Unauthorized Trading

Randy T. Carpen of Saint Louis Missouri a stockbroker formerly employed by Vestech Securities Inc. and Freedom Investors Corp. is referenced in a customer initiated investment related arbitration claim where the customer sought $300,000.00 in damages founded on allegations that (1) trades were executed on an excessive basis (2) transactions lacked authorization and (2) stocks […]

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FINRA Bars NYLife Stockbroker For Forgery

October 14, 2019  |   Posted by :   |   Annuity Schemes, Forgery, Stockbroker Fraud News   |   0 Comments

Christina Sabengsy (also known as Christina Ioana Colwell) of Deerfield Iowa a stockbroker formerly registered with NYLife Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that the signatures of NYLife Securities LLC customers had been forged by her on documentation to effect […]

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First Kentucky Sued By Investors For Fraud

William Cranston Fenwick Jr. (also known as Bill Fenwick) of Louisville Kentucky a stockbroker currently registered with First Kentucky Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer requested unspecified damages supported by allegations that (1) the customer’s account was administered negligently (2) contractual obligations had been breached […]

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Investors Accuse Woodbury Of Bad Alternative Investments

Daniel John Dunn a stockbroker currently employed by Woodbury Financial Services is referenced in a customer initiated investment related complaint on March 29, 2019 in which the customer sought more than $5,000.00 in damages supported by allegations that the customer was provided poor investment advice concerning real estate security and equipment leasing interests sold by […]

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NSC Terminates Stockbroker For Providing Bad Investment Advice

October 14, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

John Kirkland Moy of Boca Raton Florida a stockbroker formerly employed by National Securities Corporation has been terminated from the securities broker dealer on April 5, 2019 based upon allegations of Moy giving bad advice to customers concerning the liquidation of their accounts. This is not the first time that Moy has been terminated from […]

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Newbridge Securities Sued By Investors For Fraud

Joseph Benjamin Baldassarra of Coral Springs Florida a stockbroker formerly registered with Newbridge Securities Corporation is the subject of a customer initiated investment related arbitration claim which was settled to resolve accusations that (1) negligent misrepresentations had been made to the customer (2) fiduciary duties were breached and (3) the customer had been defrauded as […]

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Securities America Stockbroker Barred For Obstruction

October 14, 2019  |   Posted by :   |   Customer Loans, Non-traded REITs, Stockbroker Fraud News   |   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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Investors Accuse Berthel Fisher Of Fraud

Steve Jeffrey Cummings of Fort Deposit Alabama a stockbroker formerly employed by Berthel Fisher Company Financial Services Inc. is the subject of a customer initiated investment related complaint on July 30, 2019 where the customers requested more than $5,000.00 in damages based upon allegations that (1) false or misleading statements had been made by the […]

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Aegis Capital Corp Sued For Breach Of Fiduciary Duty

Stephen Giannantonio (also known as Steve Gannantaonio) of New York New York a stockbroker currently registered with Aegis Capital Corp is the subject of a customer initiated investment related arbitration claim where the customer requested $304,000.00 in damages based upon accusations that (1) the customer’s account was churned (2) contractual obligations had been breached (3) […]

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Ameriprise Stockbroker Sanctioned For Mismarking Trades

William George Davis of Atlanta Georgia a stockbroker formerly employed by Ameriprise Financial Services Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that (1) Davis solicited investments that were not authorized by Ameriprise to be solicited and (2) Davis mismarked […]

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Investors Accuse UBS Of Unauthorized Transactions

Alex Gerardo Herrera of Coral Gables Florida a stockbroker formerly registered with UBS Financial Services Inc. is the subject of a customer initiated investment related complaint which was settled for $137,500.00 on August 19, 2019 supported by allegations that between 2013 and 2016, the customer’s funds had been relocated by Herrera without the customer’s permission. […]

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Wells Fargo Sued By For Defective Investment Advice

John Bradford Leonard of Toledo Ohio a stockbroker formerly employed by Wells Fargo Advisors is the subject of a customer initiated investment related arbitration claim which was resolved for $265,000.00 in damages supported by allegations of unsuitable stock recommendations having been made during the time that Leonard was employed by Wells Fargo Clearing Services LLC. […]

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SW Stockbroker Sanctioned By FINRA For Failure To Comply

Andrew Caputo Spaventa of Melville New York a stockbroker formerly registered with Salomon Whitney Financial has been suspended on September 6, 2019 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations of Spaventa’s failure to comply with a customer initiated investment related settlement agreement. FINRA Public Disclosure confirms […]

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Investors Sue Raymond James Over Bad Investments

Ronald Harris Rothchild of Garden City New York a stockbroker formerly registered with Raymond James Financial Services is referenced in a customer initiated investment related arbitration claim which was resolved for $50,000.00 in damages based upon accusations that (1) the customer’s account was overconcentrated in bad investments (2) fiduciary duties had been breached (3) the […]

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Independent Financial Stockbroker Investigated By FINRA

Martin David Batstone (also known as Marty David Batstone) of San Diego California a stockbroker formerly employed by Independent Financial Group is the subject of a Financial Industry Regulatory Authority (FINRA) Investigation in which the regulator determined that disciplinary action should be taken by FINRA Department of Enforcement against the stockbroker founded on allegations of […]

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Newbridge Stockbroker Barred By SEC For Fraud

October 14, 2019  |   Posted by :   |   Boilerroom, Securities Fraud, Stockbroker Fraud News   |   0 Comments

Gerald John Cocuzzo (also known as Gerry Cocuzzo and as Jerry Cocuzzo) of Boca Raton Florida a stockbroker formerly employed by Newbridge Securities Corporation has been barred from being a stockbroker or investment advisor representative or otherwise associating with securities broker dealers or investment advisories according to a Securities and Exchange Commission (SEC) Order containing […]

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Regulators Sanction LPL Stockbroker For Fraud

October 14, 2019  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

James Cornelius Bylenga of Portage Michigan a stockbroker formerly employed by LPL Financial LLC is the subject of a Notice and Order to Cease and Desist issued by the State of Michigan Department of Licensing and Regulatory Affairs’ Corporations, Securities and Commercial Licensing Bureau based upon findings that Bylenga defrauded Michigan residents. In the Matter […]

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FINRA Sanctions Paulson Stockbroker For Unauthorized Trading

Michael Patrick Nixon has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Nixon executed trades in accounts of Paulson Investment Company customers without written authorization from either customers or the securities broker dealer. Letter of Acceptance Waiver and Consent No. 2018056269002 […]

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FINRA Bars Securities America Stockbroker In Investigation

September 13, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

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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Merrill Lynch Sued By Investors For Bad Investment Advice

Christopher David Sadaka of Jupiter Florida a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim where the customer sought unspecified damages supported by accusations that between May of 2014 and March of 2017: (1) false or misleading statements had been made concerning oil […]

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Edward Jones Accused Of Excessive Trading

September 13, 2019  |   Posted by :   |   Excessive trading, Stockbroker Fraud News   |   0 Comments

Robert Andrew Kahn of Creve Coeur Missouri a stockbroker formerly registered with Edward Jones is the subject of a customer initiated investment related written complaint on September 10, 2018 in which the customer sought $104,133.00 in damages based upon allegations that (1) unsuitable trades were executed in the customer’s account (2) trades had been made […]

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Innovation Partners Founder Barred By FINRA

September 13, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Patrick Emanuel Sutherland of Charlotte North Carolina a stockbroker formerly employed by Innovation Partners LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Order Accepting Offer of Settlement containing findings that Sutherland controlled or managed Innovation Partners LP when he was disqualified from […]

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Raymond James Sued By Investors For Breach Of Contract

Adam Saul Frankfort of New York New York a stockbroker currently employed by Raymond James Associates Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $1,000,000.00 in damages based upon accusations that when Frankfort was associated with Raymond James and former securities broker dealer Deutsche Bank Securities: (1) […]

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Investors Sue The GMS Group For Negligence

Carmine Claudio Capone of Boca Raton Florida a stockbroker and supervisor currently registered with The GMS Group LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $1,000,000.00 in damages founded on accusations that Capone failed to supervise a stockbroker who (1) made investment recommendations that failed to be suitable […]

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FINRA Charges Allstate Stockbroker With Conversion

Jesse Gil III of Corpus Christi Texas a stockbroker formerly registered with Allstate Financial Services LLC has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint containing accusations that (1) Gil converted funds belonging to an elderly widow whom Gil advised outside Allstate Financial Services’ auspices (2) Gil failed to […]

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Independent Financial Group Sued For Misrepresentation

Shawn Bruce Davis of Auburn California a stockbroker formerly employed by Independent Financial Group LLC is the subject of a customer initiated investment related civil action brought in the Superior Court of the State of California in which the customer requested unspecified damages founded on accusations that (1) false or misleading statements had been made […]

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Regulator Bars Edward Jones Stockbroker For Conversion

Matthew Donald Kerby of Paoli Indiana a stockbroker formerly employed by Edward Jones has been permanently barred by the Indiana Securities Division from engaging in securities business in the State of Indiana according to an Order containing allegations of Kerby’s violation of the Indiana Uniform Securities because of being barred by Financial Industry Regulatory Authority […]

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Investors Accuse LPL Financial Of Misrepresentation

Donald Stephen Woods of Louisville Kentucky a stockbroker formerly registered with LPL Financial LLC is referenced in a customer initiated investment related complaint on June 3, 2019 where the customer sought damages estimated to exceed $5,000.00 supported by accusations that (1) bad recommendations of alternative investments including business development companies had been made to the […]

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Allstate Stockbroker Barred By FINRA For Conversion

Kari Ann Buckles of Olean New York a stockbroker formerly registered with Allstate Financial Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that (1) Buckles converted a customer’s funds and (2) Buckles failed to cooperate with a FINRA investigation into allegations of […]

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Network 1 Financial Sued For Bad Private Placements Sales

Wesley Owen Clinton of Seaford New York a stockbroker currently registered with Network 1 Financial Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $145,000.00 in damages based upon allegations that (1) the customer was placed in private placements and over-the-counter equities which were inappropriate given the customer’s […]

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Investors Sue Wells Fargo For Defective Investment Advice

Betty Rodriguez of Weston Florida a stockbroker formerly registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related arbitration claim which was settled for $23,000.00 in damages supported by accusations that (1) the customer’s account had been over-concentrated in mutual fund products which resulted in losses and (2) the […]

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FINRA Bars Spartan Stockbroker In Investigation

September 13, 2019  |   Posted by :   |   Boilerroom, Stockbroker Fraud News   |   0 Comments

Michael James Resciniti of Spartan Capital Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Resciniti was unresponsive to a FINRA inquiry. Case No. 2018058707101 (Nov. 19, 2018). According to FINRA Public Disclosure, Resciniti’s non-cooperation had been met with a suspension by […]

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Investors Accuse Pruco Securities Of Annuity Misconduct

September 13, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Marc Ang of Sherman Oaks California a stockbroker formerly registered with Pruco Securities LLC is referenced in a customer initiated investment related written complaint on August 20, 2018 in which the customer requested unspecified damages founded on allegations of non-disclosures by Ang as it concerned the risks and guarantees of a variable annuity that had […]

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John Loofbourow Stockbroker Barred In FINRA Inquiry

September 13, 2019  |   Posted by :   |   Outside Business Activities, Selling Away, Stockbroker Fraud News   |   0 Comments

Craig Anthony Zabala of New York New York a stockbroker formerly employed by John W. Loofbourrow Associates Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Zabala hindered a FINRA investigation into allegations of him engaging in private securities transactions and outside business […]

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Morgan Stanley Sued By Investors For Misrepresentation

Timothy Thomas Gibbons of New Orleans Louisiana a stockbroker formerly employed by Morgan Stanley is the subject of a customer initiated investment related arbitration claim where the customer sought $225,708.00 in damages supported by allegations that (1) energy-sector over-the-counter equities transactions executed in the customer’s account were unsuitable for the customer and (2) false or […]

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FINRA Sanctions PFS Stockbroker For Forgery

September 13, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

Vitthal Mathurbmas Patel of Denville New Jersey a stockbroker formerly registered with PFS Investments Inc. has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Patel forged customer account documents. Letter of Acceptance Waiver and Consent No. […]

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National Securities Corp Sued For Breach Of Fiduciary Duty

Michael Patrick McMahon of Garden City New York a stockbroker formerly registered with National Securities Corporation is referenced in a customer initiated investment related arbitration claim in which the customer requested $280,000.00 in damages founded on accusations that (1) improper or misleading statements had been made concerning investments (2) the customer’s account was handled in […]

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FINRA Sanctions Neidiger Stockbroker For Outside Business Activities

September 13, 2019  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Jeffrey Evan Sigman of Greenwood Village Colorado a stockbroker formerly registered with Neidiger Tucker Bruner Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Sigman engaged in undisclosed outside business activities while associated with the securities broker dealer. FINRA Arbitration […]

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Investors Sue Wedbush For Unauthorized Trading

Mark Fred Augusta of Solana Beach California a stockbroker formerly registered with Wedbush Securities is referenced in a customer initiated investment related arbitration claim in which the customer requested $398,832.00 in damages based upon accusations that (1) bond trades effected by Augusta failed to be suitable for the customer and (2) unauthorized transactions were executed […]

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FINRA Bars NYLife Stockbroker For Conversion

Lawrence James Rizer of Boardman Ohio a stockbroker formerly registered with NYLife Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings of his conversion of funds while engaging in an outside business activity. Letter of Acceptance Waiver and Consent No. 2017054157401 […]

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GMS Group Sued By Investors For Bad Investment Advice

Travis Alan Knadle of Boca Raton Florida a stockbroker currently employed by The GMS Group LLC is referenced in a customer initiated investment related arbitration claim which was settled to resolve allegations that investment recommendations made to the customer were not suitable in regard to the municipal and corporate debt transactions effected in the customer’s […]

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Independent Financial Stockbroker Sanctioned By Regulators

September 13, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Michael John Wood of Lake Tapps Washington a stockbroker currently employed by Independent Financial Group LLC is the subject of sanctions issued by the State of Michigan according to a Stipulation and Order founded on allegations that Wood engaged in unethical or dishonest practices while in the securities industry. Case No. 337031 (Mar. 6, 2019). […]

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Investors Sues Legacy Asset Securities For Stockbroker Ponzi Scheme

William Andrew Hightower of Houston Texas a stockbroker formerly registered with Legacy Asset Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought unspecified damages supported by accusations that (1) the customer’s account had been liquidated by Hightower without the customer’s authorization and (2) funds were improperly used to […]

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Kovack Stockbroker Barred In Elder Theft Inquiry

Rita Marie Dulya (also known as Rita Marie Masluk) of Port St. Lucie Florida a stockbroker formerly registered with Kovack Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations of Dulya failing to cooperate with a FINRA inquiry. Case No. 2017055835001 (Nov. 19, […]

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Moors Cabot Sued By Investors For Stockbroker Negligence

Scott Allen Sibley of Boca Raton Florida a stockbroker formerly registered with Moors Cabot Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested damages estimated to exceed $5,000.00 founded on allegations that (1) the customer’s account was handled in a negligent manner (2) contractual obligations had been breached […]

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Kalos Capital Sanctioned For Bad Alternative Investments

Kalos Capital, a securities broker dealer headquartered in Alpharetta Georgia, and Darren Michael Kubiak of Lawrenceville Georgia, a stockbroker formerly registered with Kalos Capital, have been sanctioned by Financial Industry Regulatory Authority (FINRA) based upon findings that (1) leveraged inverse exchange traded funds (LIETFs) had been recommended to the firm’s customers without Kalos Capital or […]

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Center Street Sued By Investors For Bad Mutual Fund Advice

September 13, 2019  |   Posted by :   |   Annuity Schemes, Mutual Fund Fraud, Stockbroker Fraud News   |   0 Comments

David Joseph Escarcega of Phoenix Arizona a stockbroker formerly employed by Center Street Securities Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $20,000.00 in damages supported by accusations that CNL Lifestyle Real Estate Investment Trust and other mutual fund trades executed in customers’ accounts failed to be suitable […]

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First Financial Stockbroker Investigated For Failure to Supervise

September 13, 2019  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Melissa Ann Strouse of Scottsdale Arizona a stockbroker formerly registered with First Financial Equity Corporation is the subject of a Financial Industry Regulatory Authority (FINRA) investigation in which FINRA indicated that its Department of Enforcement should pursue disciplinary action against the stockbroker for possible supervisory failures and other violations of FINRA and National Association of […]

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FINRA Sanctions PFS Stockbroker For Violating Suspension

September 13, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel William Staudacher of Dallas Texas a stockbroker formerly registered with PFS Investments Inc. has been fined $10,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Staudacher violated the terms of a previously imposed FINRA suspension for unauthorized trading […]

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Regulators Bar MetLife Stockbroker For Fraud

James Paul Kolf of Madison Wisconsin a stockbroker formerly registered with MetLife Securities Inc. has been barred from being a stockbroker or an investment adviser or associating with securities broker dealers or investment advisories according to an Order Instituting Administrative Proceedings, Making Findings and Imposing Remedial Sanctions issued by Securities Exchange Commission (SEC) based upon […]

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Cova Capital Sued By Investors For Fraud

Michael Lawrence Oromaner of Syosset New York a stockbroker formerly employed by Cova Capital Partners LLC is the subject of a customer initiated investment related arbitration claim where the customer was awarded $75,672.00 in damages based upon Oromaner being found liable on the customer’s claims including (1) breach of fiduciary duty (2) breach of contract […]

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FINRA Bars Raymond James Stockbroker For Obstruction

Stefan Anton Pastor of Fort Lauderdale Florida a stockbroker formerly registered with Raymond James Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with an investigation into allegations of him: (1) effecting trades in a […]

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FINRA Bars Dinosaur Stockbroker In Investigation

September 13, 2019  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Gerald Lee Brodsky of New York New York a stockbroker formerly registered with Dinosaur Financial Group L.L.C. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Brodsky failed to cooperate with an investigation concerning his outside business activities. Letter of Acceptance, Waiver and Consent […]

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Regulators Bar Ameritas Stockbroker For Customer Loans

September 13, 2019  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Thomas H. Lawrence III of Chapel Hill Tennessee a stockbroker formerly registered with Ameritas Investment Corp. is the subject of an Order issued by Tennessee Securities Division which barred him from being a stockbroker or an investment advisor in the State of Tennessee based on accusations that he borrowed money from an Ameritas Investment Corp. […]

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Northwestern Mutual Investment Services Terminates Stockbroker For Alleged Misappropriation

Daniel Joe Wilson of Columbus Junction Iowa a stockbroker formerly registered with Northwestern Mutual Investment Services has been terminated on February 5, 2018 based upon allegations of (1) Wilson engaging in unauthorized activities in a customer’s account and (2) Wilson engaging in unapproved activities during a time that he was suspended by Financial Industry Regulatory […]

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Morgan Stanley Sued By Investors Over ETF Sales

Edward Louis Barger of Miami Florida a stockbroker formerly employed by Morgan Stanley is the subject of a customer initiated investment related arbitration claim which was settled for $92,500.00 in damages based upon accusations of the customer being sold bad over-the-counter equities, closed-end funds and common and preferred stocks. FINRA Arbitration No. 17-02301 (Oct. 23, […]

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Merrill Lynch Stockbroker Sanctioned For Misrepresentation

September 13, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Jedediah Elvin Dahl of Knoxville Tennessee a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Dahl’s consent to findings that he made false or misleading statements in regard to investments offered to […]

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Securities Equity Stockbroker Investigated For Fee Omissions

September 13, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

John Randall Gladden of El Cajon California a stockbroker formerly registered with Securities Equity Group is the subject of an Idaho Department of Insurance Investigation that commenced on February 27, 2018 into Gladden’s activities following the Department’s receipt of a customer complaint where the customer alleged that the negative effect of management fees on the […]

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Investors Sue Merrill Lynch For Misrepresentation

September 13, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News, Suitability   |   0 Comments

Lorenzo C. Esteva of Miami Florida a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $225,000.00 in damages supported by allegations that (1) omissions and unfounded statements had been made to the customer concerning the terms and conditions […]

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Woodbury Financial Stockbroker Barred By Regulator

Robert Hayes Hoffman of Indianapolis Indiana a stockbroker formerly registered with Woodbury Financial Services has been barred from being a stockbroker in the State of Indiana according to an Indiana Securities Division Order based upon findings of Hoffman being expelled from a self-regulatory organization for misconduct in the securities industry. Case No. 18-0001 SB (Jan. […]

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Investors Sue Spartan Capital Securities For Churning

Marc Augustus Reda of New York New York a stockbroker currently registered with Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim in which the customer was awarded $15,381.00 in damages based upon Spartan Capital Securities being found liable on the customer’s claims including churning of the customer’s account by […]

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LPL Stockbroker Barred By Regulator For Selling Away

September 13, 2019  |   Posted by :   |   Outside Business Activities, Selling Away, Stockbroker Fraud News   |   0 Comments

Joseph Alan Likens of Des Peres Missouri a stockbroker employed by LPL Financial LLC has been barred from being a stockbroker or an investment adviser representative in the State of Missouri according to a Consent Order issued by the State of Missouri Office of Secretary of State containing findings that Likens engaged in unethical and […]

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Legend Securities Stockbroker Barred In FINRA Investigation

Jason Harris Klabal of New York New York a stockbroker formerly employed by Legend Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Klabal neglected to cooperate with a FINRA inquiry which may have concerned customer disputes that were filed by customers […]

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Spartan Capital Sued For Breach Of Fiduciary Duty

Robert John Murray of New York New York a stockbroker formerly registered with Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim in which ten customers collectively requested $6,645,956.00 in damages based upon allegations that (1) fiduciary duties owed to customers had been violated (2) misrepresentations had been made concerning […]

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FINRA Bars Paulson Stockbroker In Investigation

September 13, 2019  |   Posted by :   |   Promissory Notes, Selling Away, Stockbroker Fraud News   |   0 Comments

Kevin Richard Graetz of Portland Oregon a stockbroker formerly registered with Paulson Investment Company has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Graetz neglected to respond to FINRA’s information request potentially relating to his disclosures of customer initiated investment related disputes or his […]

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Investors Sue Vanderbilt Securities For Unsuitable Recommendations

September 13, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News, Suitability   |   0 Comments

Mark Kaplan of Woodbury New York a stockbroker formerly registered with Vanderbilt Securities LLC is referenced in a customer initiated investment related arbitration claim which was settled for $55,000.00 in damages based upon accusations that the customer’s common and preferred stock and over-the-counter equities holdings were inappropriate for the customer and had poorly performed. Financial […]

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LPL Stockbroker Barred By FINRA In Investigation

August 28, 2019  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News   |   0 Comments

Michael Eric Johnson of Medford Oregon a stockbroker formerly employed by LPL Financial LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Johnson failed to cooperate with a FINRA investigation into accusations of his improper acquisition of customer accounts and designation as beneficiary […]

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Madison Avenue Securities Accused Of Excessive Trading

David Lloyd Barber of San Diego California a stockbroker formerly registered with Madison Avenue Securities LLC is referenced in a customer initiated investment related written complaint which was settled on August 1, 2018 for $22,500.00 in damages founded on allegations that (1) trades were executed in the customer’s account in an excessive manner and (2) […]

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Edward Jones Stockbroker Sanctioned For Unauthorized Trading

August 28, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Scott Richard Riley of Hooksett New Hampshire a stockbroker formerly employed by Edward Jones has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Riley exercised discretion in customer accounts without having any written authorization (2) Riley executed trades without customers’ consent. […]

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Investors Sue Oppenheimer For Securities Fraud

Michael Alexander Lackwood a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought as much as $500,000.00 in damages founded on allegations that between January 1, 2014 and June 30, 2018: (1) fiduciary duties had been breached (2) the customer’s account was […]

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RBC Sued By Investors For Misrepresentation

John Scott Simpson of Hunt Valley Maryland a stockbroker formerly registered with RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $27,500.00 in damages founded on accusations that between 2012 and 2016: (1) false or misleading statements had been made concerning the performance of the customer’s […]

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FINRA Sanctions Van Clemens For Failure To Supervise

Van Clemens Co. Inc. of Minneapolis Minnesota has been censured and fined $50,000.00 by Financial Industry Regulatory Authority (FINRA) based upon accusations that the firm failed to supervise its business practices with a view towards protecting against excessive trading by Van Clemens stockbrokers in customer accounts. Letter of Acceptance Waiver and Consent No. 2017053162101 (Aug. […]

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Janney Montgomery Sued By Investors For Negligence

Laurence Michael Braunstein of New York New York a stockbroker registered with Janney Montgomery Scott LLC is the subject of a customer initiated investment related arbitration claim which was resolved for at least $14,999.00 in damages based upon accusations that when Braunstein was associated with Morgan Stanley, First Allied Securities and Janney Montgomery Scott: (1) […]

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Thrivent Stockbroker Sanctioned For Unauthorized Trading

August 28, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Arlyn Roy Stokesbary of Slayton Minnesota a stockbroker formerly registered with Thrivent Investment Management Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Stokesbary executed unauthorized trades in customer accounts during the period in which he was associated with the […]

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Voya Discharges Stockbroker For Outside Activity

August 28, 2019  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

James Ernest Joly (also known as Jim Joly) of East Greenwich Rhode Island a stockbroker formerly registered with Voya Financial Advisors Inc. has been discharged on July 10, 2018 founded on accusations that (1) Joly preserved Voya Financial Advisors customer account documents that were signed but otherwise blank so that he could effect transactions in […]

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Wayne Hummer Accused Of Structured Note Fraud

August 28, 2019  |   Posted by :   |   Stockbroker Fraud News, Structured Notes   |   0 Comments

Jeannette Ann Adcock a stockbroker formerly registered with Wayne Hummer Investments is referenced in a customer initiated investment related written complaint on April 9, 2019 in which the customer sought $11,335.29 in damages founded on accusations that (1) unfounded statements had been made to the customer concerning the purchase of structured notes and structured certificate […]

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Aegis Capital Sued By Investors For Misconduct

Michael Christopher Venturino of Garden City New York a stockbroker formerly registered with Aegis Capital Corp is the subject of a customer initiated investment related arbitration claim which was settled for $300,668.16 in damages based upon accusations that (1) investment recommendations made to the customer failed to be suitable (2) unauthorized trades were effected in […]

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SEC Bars Financial America Stockbroker For Fraud

James Marc Unger of Cleveland Ohio a stockbroker formerly employed by Financial America Securities has been barred from being a stockbroker or investment advisor representative or otherwise associating with securities broker dealers or investment advisories according to an SEC Order Instituting Administrative Proceedings based in part on Unger misappropriating funds belonging to one of his […]

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Oppenheimer Sued By Investors For Breach Of Contract

Robert Abramowitz of Jericho New York a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for more than $50,000.00 in damages founded on accusations that (1) fiduciary duties had been violated (2) the customer’s investment account was handled in a negligent manner […]

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Investors Accuse Morgan Stanley Of Unauthorized Trading

August 28, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Peter Michael Riley of Plano Texas a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related complaint which was resolved for $20,000.00 on July 19, 2018 based upon accusations that unauthorized stock trades were executed in the customer’s account by Riley between March of 2013 and May of 2018. […]

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UBS Stockbroker Sanctioned For Breach Of Fiduciary Duty

Ronald Dale Broadstone of New Albany Ohio a stockbroker formerly employed by UBS Financial Services Inc. is the subject of a Division Order in which he was ordered to cease and desist from engaging in conduct violative of Ohio Securities Act based on the Division’s findings that (1) Broadstone engaged in manipulative and deceptive acts […]

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J.J.B. Hilliard Sued Over Oil And Gas Investments

Mark Fallon Kregor of Louisville Kentucky a stockbroker currently registered with J.J.B. Hilliard W.L. Lyons LLC is referenced in a customer initiated investment related arbitration claim which was settled for $87,500.00 in damages founded on accusations that the customer was placed into defective oil and gas investments which resulted in losses. FINRA Arbitration No. 18-03128 […]

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Voya Stockbroker Barred By FINRA In Investigation

August 28, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Robert Daniel Witt of Libertyville Illinois a stockbroker formerly registered with Voya Financial Advisors Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that Witt failed to provide FINRA with information that was requested of him and then failed to seek termination of his […]

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Investors Sue Hennion Walsh For Municipal Bond Misconduct

August 28, 2019  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Stephen George Kowalski of Parsippany a stockbroker currently registered with Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $1,000,000.00 in damages supported by allegations that between 2012 and 2017, municipal debt purchases were inappropriate for the customer and resulted in the customer incurring unwarranted losses. […]

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Royal Alliance Stockbroker Barred For Failure To Pay $2.1 Million Arbitration Award

August 28, 2019  |   Posted by :   |   Ponzi Scheme, Stockbroker Fraud News   |   0 Comments

Gary John Basralian of Maplewood New Jersey a stockbroker formerly employed by Royal Alliance Associates Inc. has been suspended on April 23, 2019 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Basralian failed to comply with a FINRA Arbitration Award in which he was ordered to […]

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Investors Sue Westminster Financial For Misrepresentation

Louis Anthony Telerico of Dayton Ohio a stockbroker formerly registered with Westminster Financial Securities Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $468,249.17 in damages founded on accusations that (1) unfounded statements and omissions had been made by Telerico concerning investments (2) trades failed to be suitable […]

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Investors Accuse Next Financial Of Providing Bad Investment Advice

Stephen Joe Williams of Madison Alabama a stockbroker currently registered with Next Financial Group is the subject of a customer initiated investment related written complaint which was resolved for $24,000.00 on November 2, 2018 supported by accusations that the customer was sold illiquid and inappropriate real estate securities that have since become worthless. Financial Industry […]

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Investors Sue Laidlaw For Stockbroker Misconduct

August 28, 2019  |   Posted by :   |   Failure to Execute, Stockbroker Fraud News   |   0 Comments

Stephen Carey Hamilton of New York New York a stockbroker currently employed by Laidlaw Company (UK) Ltd. is referenced in a customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages founded on accusations that the customer’s instructions had been disregarded by Hamilton as it related to common or preferred stock and […]

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FINRA Sanctions Paulson Stockbroker For Unauthorized Trading

Michael Patrick Nixon of Tampa Florida a stockbroker currently registered with Paulson Investment Company LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Nixon executed trades in accounts of Paulson Investment Company customers without written authorization from either customers or […]

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Worden Capital Stockbroker Barred For Churning

Gregory Thomas Dean of Rockville Centre New York a stockbroker employed by Worden Capital Management LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that (1) Dean churned a customer’s investment account and (2) Dean made unsuitable and excessive trades in customer accounts. Letter […]

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FINRA Sanctions NYLife Stockbroker For Outside Business Activities

Partho Sarathi Ghosh of New York New York a stockbroker registered with NYLife Securities LLC has been fined $25,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Extended Hearing Panel Decision containing findings that Ghosh engaged in undisclosed outside business activities. Department […]

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Investors Sue Oppenheimer For Breach Of Fiduciary Duty

August 27, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

David Wayne Krumrey of The Woodlands Texas a stockbroker employed by Oppenheimer Co. Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought unspecified damages based upon allegations that between 2010 and 2018: (1) the customer’s account was handled in a negligent manner (2) contractual obligations had been violated […]

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Madison Avenue Stockbroker Barred In Selling Away Investigation

Bryan Joseph Clark of Atascadero California a stockbroker employed by Madison Avenue Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Clark failed to cooperate with FINRA personnel during an investigation into accusations of (1) Clark engaging in outside business activities that […]

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Investors Sue Sterne Agee For Securities Fraud

Richard Michael Wesselt of Collegeville Pennsylvania a stockbroker employed by The O.N. Equity Sales Company and Sterne Agee Financial Services Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $10,000,000.00 in damages based upon accusations that (1) false or misleading statements and omissions had been made to the […]

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Innovation Stockbroker Sanctioned For Outside Business Activities

August 27, 2019  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Leonard John Kuczynski of Charlotte North Carolina a stockbroker registered with Innovation Partners LLC has been fined $10,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Kuczynski engaged in outside business activities without disclosing them to the securities broker […]

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Wells Fargo Stockbroker Sanctioned For Unauthorized Trading

August 27, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Stephen Allen Kelbick of Villanova Pennsylvania a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Kelbick effected unauthorized trades in customer accounts while registered with Wells Fargo. Letter of Acceptance Waiver […]

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Morgan Stanley Accused Of Abuse of Discretion By Trading Penny Stocks

August 27, 2019  |   Posted by :   |   Penny Stock Fraud, Stockbroker Fraud News   |   0 Comments

Michael John Kurka of Alexandria Virginia a stockbroker employed by Morgan Stanley is referenced in a customer initiated investment related written complaint on June 5, 2018 where the customer requested $200,000.00 in damages founded on accusations that bad penny stock and equity trades had been effected in the customer’s account evidencing an abuse of Kurka’s […]

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Cetera Advisors Stockbroker Sanctioned For Selling Away

Roger Lee Owens of Elkton Maryland a stockbroker employed by Cetera Advisors LLC has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings of Owens engaging in private securities transactions in which he sold Cetera customers promissory notes in Woodbridge Group of Companies […]

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National Planning Sued For Broker Selling Away Dope Stocks

Timothy John Beall of Eau Claire Michigan a stockbroker registered with National Planning Corporation is the subject of a customer initiated investment related arbitration claim where the customer requested $700,000.00 in damages founded on allegations that (1) Beall executed the customer’s purchase of GrowCo Inc. away from National Planning Corporation without the securities broker dealer’s […]

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Investors Sue Morgan Stanley Over UIT Fraud

Michael Bruce Ralby of Boca Raton Florida a stockbroker employed by Morgan Stanley is the subject of a customer initiated investment related arbitration claim where the customer sought unspecified damages based upon accusations that between 2015 and 2017, the customer had been placed into unit investment trust and municipal debt products that failed to be […]

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FINRA Charges Financial West Stockbroker With Churning

Daniel Gordon Maughan of Los Angeles California a stockbroker registered with Financial West Group has been charged in a Complaint brought by Financial Industry Regulatory Authority (FINRA) Department of Enforcement alleging that (1) Maughan churned a customer’s investment account and (2) Maughan made unsuitable trades while he was employed by Financial West Group. Department of […]

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MetLife Sued By Investors For Misrepresentation

William Roy Kimberlin of Dallas Texas a stockbroker registered with MetLife Securities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $15,000.00 in damages based upon accusations that securities laws had been violated by way of false and misleading statements being made to the customer about an […]

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BBT Securities Accused Of Mutual Fund Misconduct

August 27, 2019  |   Posted by :   |   Mutual Fund Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Shannon Christopher Taylor of Roxboro North Carolina a stockbroker registered with BBT Securities LLC is referenced in a customer initiated investment related written complaint which was resolved for $36,308.87 in damages on October 31, 2018 based upon allegations that (1) misrepresentations had been made to the customer concerning the terms and conditions of investments and […]

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Alexander Capital Stockbroker Barred By SEC For Fraud

Rocco Roveccio of Staten Island New York a stockbroker registered with Alexander Capital L.P. has been barred from being a stockbroker or investment adviser or otherwise associating with any securities broker dealers or investment advisories according to a Securities and Exchange Commission (SEC) Order Instituting Administrative Proceedings supported by allegations that (1) Roveccio effected unauthorized […]

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Investors Accuse U.S. Bancorp Stockbroker Of Misappropriation

John Douglas Wade of Fullerton California a stockbroker employed by U.S. Bancorp Investments Inc. is the subject of a customer initiated investment related written complaint which was resolved for $58,566.91 on June 19, 2018 founded on allegations that the customer’s funds had been improperly removed from a money market account and relocated to a mortgage […]

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D.H. Hill Stockbroker Barred In FINRA Investigation

August 27, 2019  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Philip Andrew Johnson of Kingwood Texas a stockbroker registered with D.H. Hill Securities LLP has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Johnson failed to cooperate with FINRA’s request for his information. Case No. 2018056846001 (Sept. 24, 2018). According to FINRA Public Disclosure, […]

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National Planning Corporation Sued Over Bogus Promissory Notes

William August Glaser (also known as Bill August Glaser) of Saint Albans Missouri a stockbroker registered with National Planning Corporation is referenced in a customer initiated investment related arbitration claim which was resolved for $600,000.00 in damages founded on accusations that (1) false or misleading statements had been made to the customer concerning promissory note […]

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Money Concepts Capital Corp Sued For Negligence

Craig Alan Sutherland of Columbus Ohio a stockbroker registered with Money Concepts Capital Corp is the subject of a customer initiated investment related arbitration claim in which an Arbitration Panel ordered Money Concepts Capital Corp to pay the customer $698,979.00 in compensatory damages based on finding the firm liable on the customer’s claims including (1) […]

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David A. Noyes Sued Over Alternative Investments

Scott Lindsay Reed of Indianapolis Indiana a stockbroker registered with David A. Noyes Company is referenced in a customer initiated investment related arbitration claim which was settled for $395,000.00 in damages supported by allegations that (1) false or misleading statements and omissions had been made to the customers concerning the terms of non-traded real estate […]

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Worden Stockbroker Sanctioned For Unauthorized Transactions

August 16, 2019  |   Posted by :   |   Boilerroom, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Yousuf Saljooki (also known as Joe Saljooki) of Melville New York a stockbroker employed by Worden Capital Management LLC has been fined $20,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based in part on findings that (1) Saljooki gave customers investment advice and sold […]

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Park Hill Group Sued By Investors For Fraud

August 16, 2019  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Andrew Caspersen of New York New York a stockbroker registered with Park Hill Group LLC is the subject of a civil action brought in the Supreme Court of the State of New York where the customer sought $16,000,000.00 in damages founded on allegations that (1) Caspersen fraudulently solicited a foundation’s securities transactions and (2) Caspersen […]

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Investors Sue National Planning Corp For Negligence

Timothy David Ballard (also known as Tim Ballard) of Danville California a stockbroker employed by National Planning Corporation is referenced in a customer initiated investment related arbitration claim where the customer sought more than $100,000.00 in damages supported by allegations that (1) the customer’s account was handled in a negligent manner (2) fiduciary obligations were […]

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FINRA Bars First Financial Stockbroker In Investigation

August 16, 2019  |   Posted by :   |   Customer Loans, Selling Away, Stockbroker Fraud News   |   0 Comments

David John Volpe of Scottsdale Arizona a stockbroker registered with First Financial Equity Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Volpe neglected to cooperate with FINRA personnel when he was being investigated for selling away or otherwise borrowing funds from customers […]

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Berthel Fisher Sued By Investors For Churning

Mason Wayne Gann of Dallas Texas a stockbroker employed by Berthel Fisher Company Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which was settled for $40,000.00 in damages on January 22, 2019 supported by accusations that (1) Gann churned the customer’s investment portfolio (2) Gann executed unauthorized trades in the […]

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Investors Sue Four Points For Unauthorized Trading

August 16, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

George Anthony Nikolakakos of New York New York a stockbroker registered with Four Points Capital Partners LLC is referenced in a customer initiated investment related arbitration claim which was settled for $87,500.00 in damages founded on allegations that common and preferred stock trades were effected in violation of FINRA rules and securities laws while Nikolakakos […]

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Morgan Stanley Stockbroker Sanctioned For Outside Business Activities

August 16, 2019  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Ken Kavanagh (also known as Kenneth Joseph Kavanagh and as Kenneth Kavanaugh) of New York New York a stockbroker registered with Morgan Stanley has been fined $25,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Kavanagh engaged in undisclosed outside business […]

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Investors Sue Laidlaw Company For Churning

Joseph Michael Fedorko Jr. of Greenwich Connecticut a stockbroker currently registered with Laidlaw Company is the subject of a customer initiated investment related arbitration claim where the customer sought $342,000.00 in damages based upon accusations that between 2012 and 2017: (1) unauthorized common and preferred stock and over-the-counter equities trades were executed in the customer’s […]

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First Allied Sued By Investors For Failure To Supervise

Virgil John Threlkeld of Alamo California a stockbroker registered with First Allied Securities Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $17,500.00 in damages supported by accusations that (1) false or misleading statements had been made to the customer by Threlkeld in regard to the customer’s investments in […]

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Raymond James Stockbroker Barred For Failure To Cooperate

Eldridge Foster Parks of Saginaw Michigan a stockbroker employed by Raymond James Associates Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Parks failed to testify before FINRA personnel during an investigation into allegations of Parks making bad investment recommendations to customers of […]

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Morgan Stanley Sued For Broker Selling Away Private Placements

Darrell Walter Rideaux of Los Angeles California a stockbroker employed by Morgan Stanley is the subject of a customer initiated investment related arbitration claim which was resolved for $130,000.00 in damages supported by allegations that an unauthorized investment solicited by Rideaux when he was employed by Morgan Stanley caused the customer to incur unwarranted losses. […]

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Investors Accuse Child Of Providing Bad Investment Advice

Michael Lee Child of Draper Utah a stockbroker registered with H. Beck Inc. is the subject of a customer initiated investment related complaint on April 24, 2018 in which the customer requested $20,000.00 in damages founded on accusations that Child advised the customer to purchase investments which failed to be appropriate for the customer. Financial […]

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Investors Sue Newbridge Securities For Excessive Trading

Stephen James Sullivan of New York New York a stockbroker employed by Newbridge Securities Corporation is referenced in a customer initiated investment related arbitration claim in which the customer sought $540,618.00 in damages founded on allegations that (1) trades had been executed in the customer’s account in excessive amounts (2) transactions were not suitable for […]

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United Planners Sued By Investors For Misrepresentation

Jerry Lou Guttman of Phoenix Arizona a stockbroker employed by United Planners’ Financial Services of America is referenced in a customer initiated investment related arbitration claim where the customer sought $1,700,000.00 in damages founded on accusations that (1) false or misleading statements were made to the customer by Guttman in regards to LLC membership interests […]

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FINRA Bars Arive Stockbroker In Investigation

Lisa Acca of Bay Ridge New York a stockbroker registered with Arive Capital Markets has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Acca failed to submit documentation to FINRA and provide testimony in the course of a FINRA investigation into allegations of her […]

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Investors Sue Packerland Over Alternative Investments

August 16, 2019  |   Posted by :   |   Alternative Investments, Stockbroker Fraud News   |   0 Comments

Edward Allen Davig of Holmen Wisconsin a stockbroker currently registered with Packerland Brokerage Services Inc. is referenced in a customer initiated investment related civil action which was settled for $32,500.00 in damages based upon accusations that Davig gave customers bad investment advice about illiquid alternative investments including oil and gas master limited purchases which declined […]

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Dawson James Accused By More Investors Of Misconduct

Marc Scott Steinberg of Boca Raton Florida a stockbroker registered with Dawson James Securities Inc. is the subject of a customer initiated investment related complaint on April 26, 2018 in which the customer requested $39,796.42 in damages supported by accusations that stock trades effected in the customer’s account failed to be suitable for the customer. […]

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SW Financial Stockbroker Sanctioned For Excessive Trading

August 16, 2019  |   Posted by :   |   Boilerroom, Churning, Excessive trading, Stockbroker Fraud News   |   0 Comments

Richard James Coleman (also known as Rich Coleman and as Rick Coleman) a stockbroker registered with SW Financial has been fined $15,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that (1) Coleman traded in customer accounts in excessive amounts and (2) […]

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Investors Accuse Signator Of Misrepresentation

August 16, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Keith Matthew Smith of Mountain Top Pennsylvania a stockbroker employed by Signator Investors Inc. is the subject of a customer initiated investment related complaint on April 26, 2018 in which the customer requested damages estimated to exceed $5,000.00 supported by allegations of Smith having misrepresented the terms and premiums on life insurance policies sold to […]

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Investors Accuse Edward Jones Of Providing Bad Investment Advice

Jon Timothy Vanslooten of Toledo Ohio a stockbroker registered with Edward Jones is the subject of a customer initiated investment related written complaint which was settled on September 10, 2018 to resolve allegations that Vanslooten placed the customer in Energy Transfer Partners LP – a direct investment which was unsuitable for the customer. FINRA Public […]

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Joseph Gunnar Stockbroker Sanctioned For Unauthorized Trading In Dead Client’s Account

August 16, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Steve Baptist of New York New York a stockbroker registered with Joseph Gunnar Co. LLC 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 (1) Baptist executed unauthorized trades in customers’ accounts and (2) Baptist exercised discretion in customer […]

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Morgan Stanley Sued For Unauthorized Trading

Alex Muscati III of Palm Harbor Florida a stockbroker currently registered with Morgan Stanley Smith Barney is the subject of a customer initiated investment related arbitration claim which was settled for $87,500.00 in damages supported by accusations that unauthorized structured product trades were effected in the customer’s account during the time Muscati was associated with […]

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Garden State Stockbroker Barred For Failure To Pay Arbitration Award

Alexander Kibrik of New York New York a stockbroker registered with Garden State Securities Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations of Kibrik failing to comply with the terms of a FINRA Arbitration Award. Case No. 16-03304 (June 12, 2018). FINRA Public […]

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Investors Sue Worden Capital For Breach Of Fiduciary Duty

John Sebastian Cangialosi of New York New York a stockbroker currently registered with Worden Capital Management LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $37,399.00 in damages founded on accusations that (1) the customer’s account was administered negligently (2) false or misleading statements and omissions had […]

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IAA Stockbroker Sanctioned For Unauthorized Trading

Michael Patrick Spolar of Orlando Florida a stockbroker formerly registered with International Assets Advisory LLC has been suspended for fifteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that (1) Spolar effected trades in the investment accounts of International Assets Advisory customers without authorization from either […]

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Citigroup Sued By Investors For Bad Mutual Fund Advice

Timothy Trevor Kenska of Encinitas California a stockbroker currently registered with Citigroup Global Markets Inc. is the subject of a customer initiated investment related arbitration claim which was settled to resolve accusations of bad mutual fund trades being effected in the customer’s account between 2015 and 2017. Financial Industry Regulatory Authority (FINRA) Arbitration No. FINRA […]

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FINRA Sanctions Kestra Stockbroker For Outside Activities

Michael Thomas Lee of Darien Connecticut a stockbroker formerly registered with Kestra Investment Services LLC has been fined $12,500.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that (1) Lee participated in the Origin Fund as an outside business activity without disclosing […]

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Investors Sue Oppenheimer For Churning

Luigi Edward Mancusi (also known as Lou Mancusi) of Lake Forrest Illinois a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $25,000.00 in damages based upon accusations that (1) Mancusi churned the customer’s account (2) Mancusi executed unauthorized trades and (3) […]

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Centaurus Stockbroker Barred For Lying To FINRA

August 11, 2019  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News   |   0 Comments

Fortino Rene Rivera of Anaheim California a stockbroker formerly employed by Centaurus Financial Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Rivera lied to FINRA personnel when he had been investigated for having a joint account with an elderly customer […]

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Garden State Securities Sued For Excessive Trading

Terry Lee Brodt Jr. of Red Bank New Jersey a stockbroker registered with Garden State Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $500,00.00 in damages founded on accusations that (1) contractual obligations to the customer had been breached (2) trades were effected on an excessive basis […]

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FINRA Bars PFS Stockbroker In Investigation

August 11, 2019  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Diane Qun Zhu of San Francisco California a stockbroker formerly registered with PFS Investments Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Zhu obstructed a FINRA investigation into allegations of her potential outside activities referenced by PFS Investments Inc. when Zhu had […]

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Investors Accuse Principal Securities Of Misrepresentation

Matthew Lee Geiser of Grand Island Nebraska a stockbroker formerly registered with Principal Securities Inc. is the subject of a customer initiated investment related complaint which has been settled for $63,653.28 in damages on January 22, 2018 founded on accusations that Geiser falsified information concerning the guaranteed returns of an annuity he sold to the […]

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TCM Stockbroker Barred By FINRA In Investigation

James Hal Heafner of Charlotte North Carolina a stockbroker formerly registered with Taylor Capital Management Inc. (now known as TCM Securities Inc.) has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Heafner neglected to cooperate with FINRA during the time in which he was […]

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Aegis Capital Sued By Investors For Failure To Execute

Robert Anthony Guidicipietro (also known as Robert A. Peters) of Holmdel New Jersey a stockbroker formerly registered with Aegis Capital Corp. is referenced in a customer initiated investment related written complaint which was resolved for $36,272.00 on September 6, 2018 founded on allegations that the customer’s stop loss order had been disregarded by Guidicipietro during […]

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FINRA Fines Morgan Stanley Stockbroker For Settling Away

Eric Nichols of Rolling Hills California a stockbroker formerly employed by Morgan Stanley 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 Nichols resolved a customer’s investment related dispute outside the firm’s auspices. Letter of Acceptance Waiver and Consent […]

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Kalos Sued By Investor For Bad Investment Recommendations

Daniel Ray Saur of Dallas Texas a stockbroker currently registered with Kalos Capital Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $60,000.00 in damages founded on accusations that (1) investment recommendations concerning real estate security and oil and gas products failed to be suitable for the customer and […]

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Paulson Stockbroker Sanctioned By FINRA For Unauthorized Trading

Matthew David Albers of Vienna Virginia a stockbroker formerly registered with Paulson Investment Company LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that trades were placed by Albers in customer accounts without authorization. Letter of Acceptance Waiver and Consent No. […]

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Citigroup Accused Of Private Placement Misconduct

James Arthur Allen (also known as Jim Allen) of Skokie Illinois a stockbroker formerly registered with Citigroup Global Markets is the subject of a customer initiated investment related complaint which was resolved on August 22, 2018 for $73,000.00 in damages based upon allegations that (1) Allen failed to inform the customer about the risks pertaining […]

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FINRA Bars Worden Capital Stockbroker In Investigation

Joseph Francis Valdini of Garden City New York a stockbroker formerly employed by Worden Capital Management LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Valdini failed to respond to a request FINRA made regarding Valdini’s activities which possibly related to his disclosures […]

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Investors Sue AXA Advisors For Bad Investment Strategy

Brent Stephen Spicuzza of Chesterfield Missouri a stockbroker formerly registered with AXA Advisors LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $1,100,000.00 in damages based upon allegations that the investment strategy Spicuzza used for the customer’s retirement accounts and brokerage accounts was unsuitable given the customer’s […]

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Four Points Stockbroker Barred By SEC For Churning

Daniel Terry Fischer of New York New York a stockbroker formerly employed by Four Points Capital Partners has been barred from being a stockbroker or investment adviser as well as associating with securities broker dealers or investment advisories according to a Securities and Exchange Commission (SEC) Order Instituting Administrative Proceedings pursuant to Securities Exchange Act […]

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FINRA Bars Former Ameriprise Stockbroker For Failure To Pay Arbitration Award

Li-Lin Hsu (also known as Yilin Hsu) of Los Angeles California a stockbroker formerly registered with Ameriprise Financial Services Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Hsu failed to comply with paying a customer $675,000.00 in damages after being found liable […]

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Cape Stockbroker Barred For Failure To Pay Arbitration Award

Christopher John Calandrino (also known as Chris Calandrino) of Coram New York a stockbroker formerly registered with Cape Securities Inc. has been suspended on March 19, 2018 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Calandrino failed to comply with his obligations to pay a customer […]

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NYLife Stockbroker Convicted Of Wire Fraud

Jonathan Spencer Williams of Timonium Maryland a stockbroker formerly employed by NYLife Securities pled guilty to one count of felony wire fraud (18. U.S.C. § 1343) as part of a scheme which caused customers of NYLife Securities to incur approximately $2,800,000.00 in losses. Criminal Action No. 1:18cr183 (D. Md. Apr. 29, 2019). Evidently, customers were […]

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Investors Sue Northland Securities For Fraud

Nicholas Harris Shermeta (also known as Nick Shermeta) of Minneapolis Minnesota a stockbroker formerly employed by Northland Securities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $409,949.79 in damages supported by allegations that (1) transactions had been effected by Shermeta in violation of Minnesota Securities Act […]

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Former J.P. Turner Stockbroker Charged With Pre-arranged Trading Fraud

Ricky Alan Mantei (also known as Ricky Alan Mantel) of Lexington South Carolina a stockbroker and branch office manager formerly employed by J.P. Turner Company LLC has been charged by Financial Industry Regulatory Authority Department of Enforcement in a Complaint alleging that Mantei engaged in unauthorized prearranged trading involving customer accounts while employed by J.P. […]

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FINRA Charges LPL Stockbroker In Unauthorized Trading Investigation

August 11, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Louis Mark Miller of Jericho New York a stockbroker formerly employed by LPL Financial LLC has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Miller failed to testify before FINRA personnel during an investigation into accusations of Miller’s unauthorized trading in customers’ brokerage accounts when he was employed by LPL […]

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SEC Sustains Merrimac Sanctions For Failure To Supervise

Merrimac Corporate Securities and Robert G. Nash (Chief Compliance Officer) of Altamonte Springs Florida are subject of a Securities and Exchange Commission (SEC) Order which sustained in part Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council’s sanctions against Merrimac and Nash based on findings of (1) Merrimac offering and selling securities that were neither registered […]

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Legend Securities Sued By Investors For Fraud

Michael Salvatore Stanton of New York New York a former Director of Capital Markets for Legend Securities Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $15,000,000.00 in damages founded on allegations that (1) contractual obligations to the customer had been breached (2) the customer’s account was administered […]

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Wilson Davis Charged By FINRA With Market Manipulation

August 02, 2019  |   Posted by :   |   Stock manipulation, Stockbroker Fraud News   |   0 Comments

Wilson Davis Co. Inc. a securities broker dealer headquartered in Salt Lake City Utah as well as James C. Snow (President and Chief Compliance Officer) Lyle Wesley Davis (Chief Executive Officer) Byron Bert Barkley (Head of Trading) and Craig Stanton Norton (stockbroker) have been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in […]

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GF Investment Services Sued By Investors Over ETF Sales

Richard William Lunn Martin of Penang a stockbroker formerly employed by G.F. Investment Services LLC is the subject of a customer initiated investment related arbitration claim which settled for $117,000.00 in damages founded on accusations that (1) fiduciary duties owed to the customer had been breached (2) due diligence was not properly executed on investments […]

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Wells Fargo Stockbroker Sanctioned For Trading Dead Customer’s Account

August 02, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Michael David Garris of Los Angeles California a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been fined $5,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Garris effected trades in the account of a Wells Fargo customer who […]

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LPL Financial Sued By Investors For Churning

Lance R. Shaw of Wynnewood Pennsylvania a stockbroker formerly employed by LPL Financial LLC is the subject of a customer initiated investment related arbitration claim which settled for $65,000.00 in damages founded on accusations that (1) unauthorized trades were executed in the customer’s account (2) trades were effected in an excessive manner (3) misrepresentations had […]

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Investors Sue Merrill Lynch For Bad Investment Advice

Thomas Alan Braley of Saginaw Michigan a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested unspecified damages supported by accusations that between 2013 and 2016, the customer was provided bad investment recommendations concerning common and preferred stocks while […]

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Farmers Stockbroker Won’t Say A Thing or Two

August 02, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Joseph Scott Eckhoff of Lakewood Colorado a stockbroker formerly employed by Farmers Financial Solutions LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Eckhoff failed to cooperate with FINRA during its investigation into accusations of Eckhoff’s possible violations of FINRA rules. Letter of […]

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Oppenheimer Sued By Investors For Misrepresentation

August 02, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Joel Eric Breiter of Westhampton New York a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which settled for $112,500.00 in damages founded on accusations that (1) Breiter’s investment recommendations failed to be suitable given the customer’s risk tolerance and (2) misrepresentations had been made […]

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FINRA Sanctions NBC Stockbroker For Unauthorized Trading

Brian Gregory DiJulio of Bellevue Washington a stockbroker formerly registered with NBC Securities Inc. has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) DiJulio executed unauthorized trades in customer accounts while employed by NBC Securities Inc. and (2) […]

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Garden State Securities Sued For Breach Of Fiduciary Duty

August 02, 2019  |   Posted by :   |   Bond Fraud, Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Ronald G. Richer of Red Bank New Jersey a stockbroker currently employed by Garden State Securities Inc. is referenced in a customer initiated investment related arbitration claim which settled for $16,300.00 in damages supported by allegations that (1) fiduciary obligations to the customer were violated and (2) Theravance Inc. put options and stocks executed in […]

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Morgan Stanley Stockbroker Barred In Theft Investigation

Robert Frederico Montes of Palm Harbor Florida a stockbroker formerly employed by Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Montes failed to comply with FINRA’s investigation into allegations of him misappropriating funds belong to an elderly customer of Morgan Stanley. […]

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SagePoint Sued By Investors For Stockbroker Theft

Timothy Francis Dufresne of Bamberg South Carolina a stockbroker formerly employed by SagePoint Financial Inc. is referenced in a customer initiated investment related civil action brought in the Bamberg County South Carolina Court of Common Pleas in which the customer sought unspecified damages based upon accusations of the embezzlement of the customer’s funds by Dufresne […]

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Investors Sue Madison Avenue Securities For Fraud

Noel Ray Vincent of Southfield Michigan a stockbroker formerly registered with Madison Avenue Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages based upon allegations that (1) the customer’s assets were handled in a negligent manner (2) fiduciary duties were breached […]

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FINRA Charges Alpine Securities With Theft Of Customer Funds

August 02, 2019  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Alpine Securities Corporation a securities broker dealer headquartered in Salt Lake City Utah has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that (1) Alpine charged unfair commissions and prices to customers who held investment accounts with the firm (2) Alpine misused securities and converted customers’ assets and (3) Alpine effected […]

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Investors Sue National Securities Corp For Bad Investment Advice

William Francis Gillis of Seattle Washington a stockbroker formerly registered with National Securities Corporation is referenced in a customer initiated investment related arbitration claim which settled for $514,600.00 in damages based upon accusations that Gillis gave the customer bad investment recommendations particularly concerning the common or preferred stocks held in the customer’s account while Gillis […]

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Investors Sue NYLife For Insurance Misconduct

August 02, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Lawrence James Rizer of Boardman Ohio a stockbroker formerly registered with NYLife Securities LLC is the subject of a customer initiated investment related civil action brought in the Jefferson County Ohio State Court which was resolved for $65,000.00 based upon accusations that (1) the customers had been sold life insurance policies which lapsed despite the […]

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Regulator Bars Titus Rockefeller Stockbroker For Fraud

Andre Vincent LaBarbera of Dix Hills New York a stockbroker formerly registered with Titus Rockefeller LLC has been barred by Florida Office of Financial Regulation based upon findings that (1) LaBarbera churned customer accounts to generate commissions (2) LaBarbera effected trades that failed to be suitable for customers given their investment profiles (3) LaBarbera utilized […]

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Regulator Sanctions Spartan Capital Stockbroker For Misconduct

Dean John Kajouras of New York New York a stockbroker formerly registered with Spartan Capital Securities LLC is referenced in a Consent Order issued by the State of Massachusetts Securities Division which required Kajouras to cease and desist from making unsuitable recommendations or engaging in other conduct violative of Massachusetts Securities Laws and required Kajouras […]

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Investors Sue Salomon Whitney For Churning

Ahmad Wares (also known as Kevin Wares) of Melville New York a stockbroker formerly registered with Salomon Whitney Financial is the subject of a customer initiated investment related arbitration claim in which the customer requested $195,132.00 in damages based upon allegations that (1) Wares breached his contractual obligations to the customer (2) Wares executed unauthorized […]

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Park Avenue Sanctioned By FINRA For Excessive Fees

Park Avenue Securities LLC a securities broker dealer headquartered in New York New York has been censured by Financial Industry Regulatory Authority (FINRA) supported by findings that (1) customers were excessively charged by the firm on mutual fund transactions and (2) the firm failed to adequately supervise its sales charges waivers to ensure that they […]

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J.P. Morgan Sued By For Bad Investment Advice

Robert Owen Klein of Newport Beach California a stockbroker formerly employed by J.P. Morgan Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $1,500,000.00 in damages supported by accusations that inappropriate securities transactions were executed in the customer’s managed account while Klein was employed by J.P. Morgan Securities […]

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Investors Accuse Capital Financial Of Misrepresentation

Teresa Marie O’Clair of Bismarck North Dakota a stockbroker formerly employed by Capital Financial Services Inc. is referenced in a customer initiated investment related written complaint on June 1, 2017 where the customer sought damages estimated to exceed $5,000.00 based upon accusations that false or misleading statements had been made to the customer concerning the […]

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R.M. Stark Stockbroker Barred In Investigation

Thomas John Marino of Delray Beach Florida a stockbroker formerly registered with R.M. Stark Co. Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Marino neglected to cooperate with a FINRA investigation into allegations of his misappropriation of funds belonging to a customer […]

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Investor Sues Sigma For Failure To Supervise TIC Sales

Tomas Juhan Velken of Lafayette California a stockbroker currently employed by Sigma Financial Corporation is referenced in a customer initiated investment related arbitration claim which was resolved for $28,195.50 in damages supported by accusations that the customer was placed into tenant in common investments which had not been adequately investigated by Sigma Financial Corporation or […]

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FINRA Sanctions LPL Stockbroker For Unauthorized Trading

July 23, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

Robert Scott Davis (also known as Robert Scott David) a stockbroker formerly employed by LPL Financial LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that (1) Davis engaged in unauthorized trades in the accounts of LPL Financial customers and (2) […]

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SA Stone Sued By InvestorsFor Bad Mutual Fund Advice

Joseph Christopher Alexander of Birmingham Alabama a stockbroker currently registered with SA Stone Wealth Management Inc. is referenced in a customer initiated investment related arbitration claim which settled for $75,000.00 in damages founded on accusations that mutual fund trades effected in the customer’s account failed to be suitable for the customer. FINRA Arbitration No. 16-02680 […]

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Stifel Nicolaus Accused of Providing Investor Bad Advice

July 23, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Joel David Davidman of Beverly Hills California a stockbroker formerly registered with Stifel Nicolaus Company Incorporated is the subject of a customer initiated investment related complaint where the customer sought damages estimated to exceed $5,000.00 supported by allegations that the customer was provided poor investment advice by Davidman concerning the stock and corporate debt investment […]

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Western International Sanctioned For Overcharging Customers

July 23, 2019  |   Posted by :   |   Mutual Fund Fraud, Stockbroker Fraud News   |   0 Comments

Western International Securities a securities broker deal headquartered in Pasadena California has been censured and fined $75,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that the firm overcharged customers on mutual fund transactions placed in customers’ accounts. Letter of Acceptance Waiver and Consent No. 2017056440501 (July 16, 2019). According to the AWC, a […]

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Investors Sue Capitol Securities For Bad Investment Advice

James Brian Moran of Florham Park New Jersey a stockbroker currently employed by Capitol Securities Management Inc. is referenced in a customer initiated investment related arbitration claim which settled for $110,000.00 in damages supported by accusations that the customer was placed in unsuitable oil and gas and stock investments in addition to inappropriate mutual fund […]

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Investors Capital Sued By Investors For Churning

Robert Estevez of Greenwich Connecticut a stockbroker formerly registered with Investors Capital Corp. is referenced in a customer initiated investment related arbitration claim which was resolved for $400,000.00 in damages founded on allegations that (1) misrepresentations had been made to the customer by Estevez concerning the customer’s equity investments (2) stock trades placed by Estevez […]

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FINRA Sanctions Stifel Stockbroker For Customer Loans

David Wilson Fleming Jr. of White Plains New York a stockbroker formerly registered with Stifel Nicolaus Company Incorporated 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 consenting to findings that Fleming inappropriately borrowed money from a Stifel Nicolaus customer […]

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Investors Sue Legend Securities For Securities Fraud

Bernardo Misseri of Staten Island New York a stockbroker formerly registered with Legend Securities Inc. has been ordered by a Financial Industry Regulatory Authority (FINRA) Arbitration Panel to pay a customer $110,622.95 in compensatory damages and $629,241.78 in punitive damages based upon the Panel finding that (1) Misseri negligently transacted in the customer’s account (2) […]

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Morgan Stanley Sued By Investors For Churning

Michael Frank Paesano of New York New York a stockbroker formerly registered with Morgan Stanley is referenced in a customer initiated investment related arbitration claim which settled for $145,000.00 in damages supported by allegations that (1) government debt trades were effected in the customer’s managed account in excessive amounts and (2) some of the customer’s […]

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Southern Trust Stockbroker Barred In Investigation

July 23, 2019  |   Posted by :   |   Churning, Excessive trading, Stockbroker Fraud News   |   0 Comments

Robert Juan Escobio of Miami Florida a stockbroker formerly registered with Southern Trust Securities Inc. has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Escobio failed to cooperate with a FINRA investigation into accusations that Escobio associated with a FINRA member securities broker dealer during a period […]

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Pruco Securities Sued By Investors Over Stockbroker Loans

July 23, 2019  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Richard Edwin Seidel of Wyomissing Pennsylvania a stockbroker formerly registered with Pruco Securities LLC is the subject of a customer initiated investment related written complaint which settled for $118,.734.65 in damages on March 29, 2017 founded on allegations that $55,000.00 in total loans had been improperly taken from the customer’s insurance policy when Seidel was […]

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FINRA Sanctions LPL Stockbroker For Selling Away

July 23, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Eric Jason Savell of Roseville California a stockbroker formerly employed by LPL Financial LLC has been fined $10,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that (1) Savell engaged in outside business activities without disclosing them to LPL Financial and (2) […]

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Investors Sue Wells Fargo For Misrepresentation

Donald Shelby Toomer of Las Vegas Nevada a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $75,000.00 in damages supported by allegations that (1) transactions executed in the customer’s account failed to be suitable for the customer and […]

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Tutus Rockefeller Stockbroker Barred For Securities Fraud

Antonio Costanzo of Chesapeake Virginia a stockbroker formerly employed by Titus Rockefeller LLC (also known as TR Capital Group LLC) has been fined $10,000.00 and barred by Florida Office of Financial Regulation according to an Order founded on accusations that (1) Costanzo engaged in fraudulent investment transactions (2) Costanzo executed trades on margin without having […]

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Investors Sue Oriental Financial For Securities Fraud

Manuel Francisco Porrata Monserrate (also known as Manuel F. Porrata) of San Juan Puerto Rico a stockbroker formerly registered with Oriental Financial Services is referenced in a customer initiated investment related complaint where the customer sought $210,000.00 in damages based upon allegations that (1) the customer’s account was administered negligently (2) investment recommendations failed to […]

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RBC Capital Sued By Investors For Churning

July 23, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Joseph Henry Murphy III of Madison Wisconsin a stockbroker formerly employed by RBC Capital Markets LLC is referenced in a customer initiated investment related written complaint which was resolved for more than $5,000.00 in damages on August 11, 2017 based upon allegations that (1) trades were executed in the customer’s accounts on an excessive basis […]

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Aegis Capital Sued By Investors For Unauthorized Trading

Nick Eugene Son of New York New York a stockbroker currently employed by Aegis Capital Corp. is referenced in a customer initiated investment related arbitration claim where the customer sought $224,968.00 in damages supported by allegations that (1) investment recommendations made to the customer were not suitable and (2) unauthorized trades had been executed in […]

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FINRA Sanctions CV Brokerage For Failure To Supervise

July 22, 2019  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

CV Brokerage Inc. a securities broker dealer headquartered in West Conshohocken Pennsylvania has been censured and fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) based upon accusations that the firm neglected to supervise its stockbrokers’ private securities transactions to ensure compliance with FINRA rules. Letter of Acceptance Waiver and Consent No. 2017052325902 (July 2, 2019). […]

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Beech Hill Sued By Investors For Breach Of Fiduciary Duty

Frank Hamrak of New York New York a stockbroker formerly registered with Beech Hill Securities Inc. and Beech Hill Advisors Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $195,271.67 in damages supported by allegations that (1) fiduciary duties owed to the customer had been breached (2) contract obligations […]

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Investor Sues Hennion Walsh For Bad Investment Advice

Joseph Ismael Rodriguez of Parsippany New Jersey a stockbroker currently employed by Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim which settled for $47,500.00 in damages founded on accusations that the customer was placed into investment grade municipal bonds from 2013 to 2017 which failed to be appropriate for […]

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Arvest Stockbroker Barred By Regulator For Customer Loan

Joe Don Treece of Bentonville Arkansas a stockbroker formerly employed by Arvest Wealth Management has been barred from being a stockbroker in the state of Oklahoma according to an Order issued by the Oklahoma Department of Securities containing accusations that (1) Treece borrowed funds from a customer in an unethical and dishonest fashion (2) Treece […]

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FINRA Bars Farmers Stockbroker In Investigation

July 22, 2019  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Tina Marie Martinez of Yakima Washington a stockbroker formerly registered with Farmers Financial Solutions LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Martinez failed to cooperate with FINRA personnel during an investigation into her life insurance business. Letter of Acceptance Waiver and […]

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Investors Accuse L.M. Kohn Of Unauthorized Trading

Charles John Ehnot of Dunmore Pennsylvania a stockbroker formerly registered with L.H. Kohn Company is the subject of a customer initiated investment related complaint that was settled for $20,000.00 in damages on April 5, 2017 based upon accusations that unauthorized real estate security transactions were effected in the customer’s account during the time that Ehnot […]

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FINRA Sanctions Summit For Failure To Supervise

Summit Brokerage Services Inc. a securities broker dealer headquartered in Boca Raton Florida has been censured and fined $325,000.00 by Financial industry Regulatory Authority (FINRA) based upon findings that (1) Summit Brokerage Services neglected to supervise its stockbrokers’ recommendations for purposes of ensuring that the stockbrokers’ trades were suitable for customers of the firm and […]

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Wells Fargo Stockbroker Accused By Investors Of Misappropriation

July 22, 2019  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Philip Earl Brunson (also known as Phil Brunson) a stockbroker formerly employed by Wells Fargo Advisors is the subject of a customer initiated investment related complaint which was resolved for $28,929.99 in damages on August 24, 2018 based upon accusations that the customer’s funds had been misappropriated by Brunson during the time that he was […]

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