Archive by Author

Windsor Street Caught Engaging In Outside Business Activities

Imtiaz A. Khan (also known as Raana Khan) of New York the former executive vice president and managing partner at Windsor Street Capital LP has been fined $20,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Order Accepting Offer of Settlement containing findings that (1) […]

Read More »

Investors Catch MML Twisting Annuity Policies

Thomas John Leone of Farmington Connecticut a stockbroker formerly registered with MML Investors Services is referenced in a customer initiated investment related written complaint which was settled on May 10, 2018 to resolve accusations that (1) the customer’s assets had been inappropriately transferred a number of times between annuities and mutual funds and (2) the […]

Read More »

Royal Alliance Broker Fired For Appointing Himself Beneficiary

Erven Joseph Frericks Jr. of Chesterfield Missouri a stockbroker formerly employed by Royal Alliance Associates Inc. has been discharged by the firm on May 11, 2018 supported by allegations that Frericks urged a customer to designate him as the beneficiary of half of the assets held in the customer’s annuity account. Financial Industry Regulatory Authority […]

Read More »

FINRA Bars Craig Scott Capital Broker For Churning

Edward Beyn of New York New York a stockbroker formerly registered with Craig Scott Capital LLC is the subject of a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Decision which affirms FINRA’s Hearing Panel’s decision to bar Beyn because (1) Beyn effected excessive trades in customer accounts (2) Beyn churned customers’ investment portfolios and […]

Read More »

State Farm Broker Fired For Misuse Of Investor Funds

Perry Davis Stalvey of Bloomington Illinois a stockbroker formerly registered with State Farm VP Management Corp. was discharged on February 6, 2018 based upon the firm’s allegations that Stalvey misused money that was provided to him by a customer of the firm pertaining to an investment transaction. FINRA Public Disclosure reveals that Stalvey is also […]

Read More »

FINRA Bars Cetera Broker In Investigation

Kenneth Joseph Kolquist of Duluth Minnesota a stockbroker formerly employed by Cetera Advisor Networks LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Kolquist failed to provide FINRA with information that was requested of him. Case No. 2015047359901 (Aug. 1, 2016). According to […]

Read More »

Ameriprise Broker Admits To Unauthorized Trading of Customer Accounts

Timothy John Knutson of Saint James Minnesota a stockbroker formerly employed by Ameriprise Financial Services Inc. has been fined $5,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized transactions in Ameriprise Financial Services’ customer accounts. Letter […]

Read More »

Pruco Securities Broker Barred In Customer Loan Investigation

February 05, 2019  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Denise Marie Peskar of Mayfield Heights Ohio a broker formerly registered with Pruco Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that she failed to respond to a FINRA information request. Letter of Acceptance Waiver and Consent No. 2018059051901 (Dec. 21, 2018). […]

Read More »

LPL Financial Broker Barred In Investigation

February 05, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Keith Allen Haynes Jr. of Winchester Kentucky a stockbroker formerly registered with LPL Financial LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that he did not cooperate with a FINRA inquiry into his activities likely concerning the allegations cited in his termination from […]

Read More »

LPL Financial Fires Brokers For Sales Practice Violations

February 05, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that LPL Financial LLC, a FINRA member brokerage firm headquartered in Boston, Massachusetts, terminated broker Joe Percy Medrano for allegedly engaging in discretionary trading, and Jason Reed Nelson based on accusations of misrepresentation. Joe Percy Medrano Terminated For Exercising Discretion In Customer Accounts Joe Percy Medrano of […]

Read More »

MML Broker Caught Selling Away

February 05, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Matthew Leon White of Little Rock Arizona a broker formerly employed by MML Investors Services LLC has been fined $5,000.00 by Arkansas based upon consenting to the Arkansas Securities Department’s findings that White sold away from his firm. Case No. S-18-0105 (Oct. 17, 2018). According to the Order, prior to White having become registered with […]

Read More »

Wells Fargo Broker Barred For Lying About Prior Misconduct

February 05, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Alfredo Caba of New York New York a stockbroker formerly employed by Wells Fargo Advisors 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 Caba lied to Wells Fargo about being terminated for cause from J.P. Morgan Securities, […]

Read More »

UBS Broker Fired For Hiding Customer Complaints

February 05, 2019  |   Posted by :   |   FINRA Securities Arbitration, Forgery, Stockbroker Fraud News   |   0 Comments

Tami Lynne Aloisa of Norfolk Virginia a stockbroker formerly registered with UBS Financial Services has been discharged by the firm on August 17, 2017 supported by allegations that (1) Aloisa failed to abide by the firm’s policies concerning customer complaints (2) Aloisa used unauthorized communication channels and (3) Aloisa provided unapproved documentation to a person […]

Read More »

Investors Accuse Raymond James Of Churning

Ryan Davis Wold of Edina Minnesota a stockbroker formerly employed by Raymond James Associates Inc. is the subject of a customer initiated investment related written complaint which was settled for $27,000.00 on June 28, 2018 supported by accusations that between 2014 and 2017: (1) transactions were effected in the customer’s account that were not suitable […]

Read More »

USA Financial Broker Fined For Outside Business Activities

February 05, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Lorraine Annette Conaway (also known as Lorraine Annette Espinoza) of Tustin California a stockbroker formerly employed by USA Financial Securities Corporation 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 FINRA’s findings that Conaway engaged in undisclosed outside business activities and […]

Read More »

Customers Sue Hennion Walsh For Bad Investments

Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that stockbrokers John Dimitrious Tsoukalas and Vincent Wallace are referenced in customer initiated investment related disputes pertaining to allegations of their unsuitable sales practices while they were registered with Hennion Walsh – a Financial Industry Regulatory (“FINRA”) brokerage firm headquartered in Parsippany, New Jersey. More Customers Sue […]

Read More »

FINRA Bars MetLife Stockbroker For Elder Abuse

Peter Orlando of Warwick Rhode Island a stockbroker formerly registered with MetLife Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Hearing Panel Decision containing findings that (1) Orlando made unsuitable investment recommendations to an elderly customer and […]

Read More »

Lincoln Financial Sued For Bad Investment Advice

Imran Nazir Razvi (also known as Raz Razvi) of Frederick Maryland a stockbroker formerly employed by Lincoln Financial Securities Corporation is referenced in a customer initiated investment related arbitration claim where the customer requested damages estimated to exceed $5,000.00 based upon accusations that Razvi or another broker made unsuitable investment recommendations to the customer concerning […]

Read More »

Craig Scott Capital Broker Barred By FINRA

Craig Scott Taddonio of New York New York a stockbroker formerly employed by Craig Scott Capital LLC is referenced in a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Decision which affirms FINRA’s Hearing Panel’s barring of Taddonio in all capacities based upon (1) Taddonio failing to reasonably supervise the firm and (5) Taddonio failing […]

Read More »

UBS Fires Broker For Outside Business Activities

February 05, 2019  |   Posted by :   |   Bond Fraud, Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Gregory Jackson Baxter of Fresno California a stockbroker formerly registered with UBS Financial Services Inc. has been discharged by the firm on November 29, 2017 based upon allegations that he engaged in outside business activities in 2017 after his requests for engaging in those activities had already been denied by the firm. Financial Industry Regulatory […]

Read More »

Allstate Broker Barred For Failure To Comply With Inquiry

February 05, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Benham Halali of San Jose California 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 based upon allegations that Halali failed to cooperate with FINRA’s inquiry into his activities. Case No. 2015047264301 (Sept. 1, 2016). FINRA Public Disclosure additionally […]

Read More »

Meyers Associates Supervisor Barred For Failure To Supervise

February 05, 2019  |   Posted by :   |   Boilerroom, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Bruce Meyers of New York New York a broker formerly registered with Meyers Associates L.P. (now known as Windsor Street Capital L.P.) has been fined $20,000.00, barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity, and suspended from associating with any FINRA member for six months according to a […]

Read More »

Deutsche Bank Broker Accused By Investor Of Forgery

February 05, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Paul P. Ruane of New York New York a stockbroker formerly employed by Deutsche Bank Securities Inc. is referenced in a customer initiated investment related written complaint on June 19, 2015 where the customer sought damages estimated to exceed $5,000.00 supported by accusations that Ruane executed transactions in a customer’s account with knowledge that the […]

Read More »

Raymond James Broker Charged With Hindering Investigation

Vincent Joseph Storms of Saint Petersburg Florida a broker formerly registered with Raymond James Associates Inc. has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that (1) Storms falsified information to FINRA in regard to his handling of outside business activities supervisory procedures and (2) Storms neglected to […]

Read More »

Bankers Securities Blamed For Buying Wrong Security

February 05, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Mohsen Babaeian of Northridge California a stockbroker currently employed by Bankers Life Securities Inc. is the subject of a customer initiated investment related written complaint on June 27, 2018 where the customer sought $12,750.00 in damages based upon allegations that (1) Babaeian placed the customer in an Allianz Variable Indexed Linked Annuity contrary to the […]

Read More »

FINRA Suspends Wells Fargo Broker For Dodging Inquiry

February 05, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Herbert H. Hafen of New York New York a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Hafen failed to provide a response to FINRA after an inquiry was made into his activities possibly […]

Read More »

Edward Jones Brokers Terminated For Misconduct

February 05, 2019  |   Posted by :   |   Failure to Diversify, Forgery, Stockbroker Fraud News, Suitability   |   0 Comments

Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that registered representatives of Edward Jones including Bruce Stanley Jakiel, Derek Strubel, John Burton Enoch Cestia II, Leslie Greenman and Tahnee Allman have been terminated by the firm founded on Edward Jones’ allegations of their violative conduct while they were employed by the firm. Bruce Stanley Jakiel […]

Read More »

Ameriprise Broker Suspended For Failure To Pay Customer Settlement

Frederick Michael Miller of Flint Michigan a stockbroker formerly registered with Ameriprise Financial Services has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Miller failed to report to FINRA whether he complied with a settlement agreement or an arbitration award. Case No. […]

Read More »

LPL Financial Broker Targeted In Unauthorized Trading Action

February 05, 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 is referenced in a Financial Industry Regulatory Authority (“FINRA”) Wells Notice in which FINRA has made an initial determination to suggest that FINRA Department of Enforcement bring a disciplinary action against Miller for obstructing an investigation and making unauthorized trades […]

Read More »

Ameriprise Financial Sued For Risky Investments

Jack Alan Quick of New Home Minnesota a stockbroker formerly employed by Ameriprise Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $214,180.00 in damages supported by accusations that (1) Quick made investment recommendations to the customer that were not suitable regarding variable annuities, variable life insurance, […]

Read More »

Portfolio Advisors Alliance Sued By Investors For Churning

Craig Landon Siegel of New York New York a stockbroker formerly registered with Portfolio Advisors Alliance LLC is the subject of a customer initiated investment related arbitration claim where the customer sought unspecified compensatory damages supported by accusations that between July of 2013 and August of 2017: (1) the customer’s account was churned (2) the […]

Read More »

Lovett Advisors Terminates Advisor Over Investment Contracts

January 29, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Deborah Ann Deckman (also known as Deborah Ann Capak) of Wilmington Delaware a stockbroker formerly employed by Spire Securities LLC and former investment adviser representative of Lovett Advisors LLC has been terminated by Lovett Advisors LLC on January 12, 2018 supported by accusations that Deckman engaged in misconduct with regard to investment contracts. Financial Industry […]

Read More »

FINRA Sanctions Ditto Trade CEO For Failure to Pay Arbitration Award

Yosef Yehuda Fox (also known as Joseph J. Fox) of Chicago Illinois the Chief Executive Officer and Chief Compliance Officer employed by Ditto Trade Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Fox failed to pay an Arbitration Award after having been […]

Read More »

Investors Sue Wells Fargo For Mutual Fund Fraud

Harold Weber of Airmont New York a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim which was settled for $50,000.00 in damages based upon allegations that between December of 2012 and June of 2016: (1) transactions were executed in the customer’s account that were not […]

Read More »

Regulator Seeks Denial Of LPL Financial Broker Registration

David Philip Antypas of Brentwood Tennessee a stockbroker formerly registered with LPL Financial LLC is the subject of a Tennessee Department of Commerce and Insurance Securities Division disciplinary action where the regulator is seeking the denial of Antypas’ securities registration based upon accusations that (1) during the time Antypas was associated with LPL Financial LLC […]

Read More »

Hennion Walsh Fined For Failure To Supervise UITs

Hennion Walsh Inc. a broker dealer headquartered in Parsippany New Jersey has been censured and fined $165,000.00 by Financial Industry Regulatory Authority (FINRA) based upon the firm’s consent to findings that (1) Hennion Walsh’s registered representatives made unsuitable investment recommendations concerning the switching of unit investment trusts in customers’ accounts and (2) Hennion Walsh neglected […]

Read More »

FINRA Bars Ameritas Broker In Theft Investigation

Kristian M. Gaudet of Cut Off Louisiana a stockbroker formerly registered with Ameritas Investment Corp has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Gaudet failed to cooperate with a FINRA investigation into allegations of Gaudet’s misuse of customer funds during the […]

Read More »

David Lerner Associates Accused Of Unauthorized Trading

Martin Kevin Walcoe of Syosset New York a stockbroker currently employed by David Lerner Associates Inc. is referenced in a customer initiated investment related written complaint on August 9, 2016 where the customer requested unspecified compensatory damages founded on accusations that unauthorized trades of equities and government-debt products had been executed in the customer’s account. […]

Read More »

Bolton Global Broker Admits to Unauthorized Trading

Bruce Anthony Zaro of Plymouth Massachusetts a stockbroker formerly employed by Bolton Global Capital 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 Zaro signed customers’ names on account documentation without authorization to effect transactions in […]

Read More »

Oppenheimer Sued By Investors For Misconduct

Christopher Matthew Keeler Sr. of Stamford Connecticut a stockbroker formerly employed by Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $542,000.00 in damages based upon allegations that (1) unauthorized oil and gas, mutual fund and equity trades were effected in the customer’s account (2) […]

Read More »

J.P Morgan Broker Caught Mismarking Trades Unsolicited

Joseph Leon Bess II of Edmond Oklahoma a stockbroker formerly registered with J.P. Morgan Securities 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 Bess mismarked customer’s order tickets concerning exchange traded fund purchases. Letter of Acceptance Waiver and […]

Read More »

UBS Fires Broker For Unapproved Customer Correspondence

January 29, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Kimberly Rae Nelson of Century City California a stockbroker formerly registered with UBS Financial Services Inc. has been discharged by the firm on August 18, 2016 supported by accusations that Nelson failed to conform to the firm’s policies by (1) creating and disseminating unauthorized investment information to customers and (2) corresponding with customers in a […]

Read More »

Boenning Scattergood Pays Back Excessive Commissions

Steven Wayne Vance of Newtown Pennsylvania a stockbroker currently registered with Boenning Scattergood Inc. is referenced in a customer initiated investment related complaint involving Vance’s activities that was settled on February 27, 2018 for $9,138.67 in damages based upon accusations that (1) the customer’s portfolio was allocated in unsuitable mutual fund investments given the customer’s […]

Read More »

RP Capital Pays $5.8 Million In Alternative Investments Lawsuit

Aaron Douglas Maurer of Aliso Viejo California a stockbroker formerly registered with RP Capital LLC is referenced in a customer initiated investment related written action brought in the District Court of Portland Oregon which was resolved for $5,795,000.00 on October 18, 2017 founded on allegations that (1) Maurer made misrepresentations to the customer concerning promissory […]

Read More »

MML Accused By Investors Of Annuity Fraud

Curt Giacobbe a stockbroker currently registered with MML Investors Services LLC is referenced in a customer initiated investment related written complaint on August 25, 2016 in which the customer requested damages estimated to exceed $5,000.00 founded on allegations that Giacobbe misrepresented information about a variable annuity that had been purchased by the customer and the […]

Read More »

Investors Sue Southeast Investments Risky Recommendations

Robert Ian Siegel of Boca Raton Florida a stockbroker currently registered with Southeast Investments NC Inc. is referenced in a customer initiated investment related arbitration claim in which the customer was awarded $14,482.00 in damages based upon findings that while Siegel was associated with Southeast Investments NC Inc: (1) Siegel failed to inform the customer […]

Read More »

Raymond James Broker Fired For Falsifying Customer Information

January 29, 2019  |   Posted by :   |   FINRA Securities Arbitration, Forgery, Stockbroker Fraud News   |   0 Comments

Barry Walter Wold of Edina Minnesota a stockbroker formerly registered with Raymond James Associates Inc. has been discharged by the firm on January 5, 2018 founded on accusations that (1) Wold did not abide by the firm’s policy concerning the switching of customers’ commission-based account to fee-based accounts (2) Wold potentially falsified information about his […]

Read More »

BBVA Blamed By Investors For Risky Investments

James David Armer of Albuquerque New Mexico a stockbroker formerly registered with BBVA Securities Inc. is referenced in a customer initiated investment related written complaint on December 7, 2018 where the customer sought damages estimated to exceed $5,000.00 based upon allegations that while associated with BBVA Securities Inc. Armer failed to inform the customer about […]

Read More »

Investors Sue TCM Securities For Massive Bond Fraud

James Hal Heafner (also known as Jim Heafner) of Charlotte North Carolina a stockbroker formerly registered with Taylor Capital Management Inc and former investment adviser representative of Retirement Wealth Advisors is the subject of a customer initiated investment related arbitration claim in which the customer requested $268,015.79 in damages founded on allegations that (1) inappropriate […]

Read More »

Edward Jones Broker Barred In FINRA Theft Investigation

James Thomas Walters II of Macon Georgia a stockbroker formerly employed by Edward Jones has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Walters neglected to provide a response to FINRA’s information request possibly concerning his termination from Edward Jones. FINRA Case No. 2018058353701 […]

Read More »

Investor Accuses Securities America Of Risky Recommendations

Richard Barry Haynes of Columbus Georgia a stockbroker formerly registered with Securities America Inc. is referenced in a customer initiated investment related written complaint on September 13, 2018 where the customer sought $13,180.00 in damages founded on allegations that the customer’s funds had been inappropriately allocated in speculative equities investments which led the customer to […]

Read More »

Wells Fargo Broker Terminated For Unauthorized Trading

January 29, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Solomon Wei-En Hua (also known as Wei-En Hua) of West Covina California a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been terminated by the firm on May 22, 2018 during the time that Hua was subject of an internal investigation into Hua possibly (1) trading in customer accounts without authorization (2) inappropriately […]

Read More »

H. Beck Fires Broker For Altering Customer Documents

January 29, 2019  |   Posted by :   |   FINRA Securities Arbitration, Forgery, Stockbroker Fraud News   |   0 Comments

Gary Clifford Smith of Southern Pines North Carolina a stockbroker formerly employed by H. Beck Inc. has been discharged by the firm on September 8, 2016 founded on accusations that Smith altered customer account documentation in violation of H. Beck policy. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Smith has been identified in […]

Read More »

Merrill Lynch Broker Admits To Altering Customer Documents

January 29, 2019  |   Posted by :   |   FINRA Securities Arbitration, Forgery, Stockbroker Fraud News   |   0 Comments

Adriane L Cagle of Peachtree City Georgia a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith 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 based upon consenting to findings that Cagle altered customer account documents without authorization. Letter of […]

Read More »

SEC Bars Wells Fargo Advisors Broker For Fraud

Aaron Robert Parthemer of Fort Lauderdale, Florida has been fined $160,000.00 and barred from being a broker or investment adviser or otherwise associating with any brokers or investment advisories according to an Order Making Findings and Imposing Sanctions Pursuant To Securities Exchange Act of 1934 Section 15(b), Investment Advisers Act of 1940 Section 203(f) and […]

Read More »

Merrill Lynch Broker Admits To Lying To Regulators

January 29, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Joseph Bert Feldman of Virginia Beach Virginia a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith 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 he misrepresented his involvement in a customer’s trust specifically […]

Read More »

Mass Mutual Fires Broker For Lying to Customers

January 29, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Chad T. Mackland of Omaha Nebraska a stockbroker formerly registered with Mass Mutual has been discharged by the firm on September 4, 2018 based upon Mass Mutual’s accusations that misrepresentations had been made to customers by Mackland in regard to the terms and conditions of traditional life insurance policies which had been sold by Mackland […]

Read More »

FINRA Bars Rogue Broker In Investigation

Abed William Lulu of Melville 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 based upon allegations that Lulu failed to provide information to FINRA that had been requested of him. Case No. 2017055568801 (May 7, 2018). […]

Read More »

FINRA Bars Wells Fargo Broker In Investigation

January 28, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

Veronica Azucena Lopez of Jupiter Florida a stockbroker formerly registered with Wells Fargo Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that Lopez failed to comply with FINRA’s request for her information. Case No. 2017053274401 (Jan. 29, 2018). According to FINRA Public […]

Read More »

UBS Sued By Investors For Negligence

January 28, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Lane Robert Goldstein of Beverly Hills California a stockbroker currently employed by UBS Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which sought $240,000 in damages but which was resolved for $35,000.00 based upon accusations that between 2007 and 2016: (1) inappropriate investments were placed in the customer’s account (2) […]

Read More »

FINRA Nails Morgan Stanley Stockbroker For Lying

January 28, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Gregory Scott Taylor of Dallas Texas a stockbroker formerly employed by Morgan Stanley Smith Barney has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Order Accepting Offer of Settlement containing findings that Taylor: (1) failed to disclose information about being a beneficiary, […]

Read More »

Wells Fargo Accused Of Preferred Stock Fraud

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

Sanjay Mathur of Newport Beach California a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related complaint on August 3, 2017 in which the customer requested damages estimated to exceed $5,000.00 supported by allegations that between July 12, 2016 and August 2, 2017: (1) Mathur placed the […]

Read More »

FINRA Bars Joseph Stone Broker In Investigation

Christopher Vincent Paul of Mineola New York a stockbroker formerly registered with Joseph Stone Capital L.L.C. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Paul failed to comply with FINRA’s request for information potentially relating to Paul’s employment separations after being subject of […]

Read More »

UBS Financial Accused Of Ripping Off Customers

January 28, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Douglas Albert Pastor of Davison Michigan a stockbroker formerly employed by UBS Financial Services Inc. is the subject of a customer initiated investment related written complaint on February 7, 2017 in which the customer sought damages estimated to exceed $5,000.00 founded on accusations that between April 13, 2010 and December 16, 2016, Pastor charged the […]

Read More »

Wells Fargo Broker Suspended By Nevada Regulators

January 28, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Raleigh Edward Kraft of Front Royal Virginia a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC has been suspended for two years from all supervisory capacities in the state of Nevada according to an Administrative Consent Order issued by the Nevada Secretary of State containing findings that Kraft had been subject of several […]

Read More »

IFS Securities Broker Barred In Investigation

January 28, 2019  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Larry Phillip Vogel of Pittsford New York a stockbroker formerly employed by IFS Securities, Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that Vogel neglected to provide FINRA with information about his business activities possibly relating to allegations cited within Vogel’s discharge from […]

Read More »

Investors Accuse Edward Jones Of Annuity Misconduct

Robert L. Friederich of Lake Zurich Illinois a stockbroker formerly registered with Edward Jones is the subject of a customer initiated investment related complaint which was settled on September 22, 2017 for $18,827.28 in damages founded on allegations that Friederich made inappropriate investment recommendations concerning the customer’s sale of mutual funds and purchase of single […]

Read More »

Landolt Securities Broker Barred In Regulatory Investigation

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

Anthony Matthew Cottone of Boca Raton Florida a stockbroker formerly registered with Landolt Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Cottone had not cooperated with FINRA’s request for his information. Case No. 2018059266101 (Dec. 10, 2018). According to FINRA Public […]

Read More »

Crazy Pro Se Customer Sues Brokerage Firm Over Chinese Penny Stock

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

Jason Hallmark of Los Angeles California fileda customer initiated investment related arbitration claim against John David Rukenbrod of Cleveland Ohio a stockbroker formerly employed by Financial America Securities Inc. where Hallmark sought $337,500.00 in damages because Rukenbrod caused the “unauthorized and allegedly fraudent transfer of 450,000 common stock shares in AMARU, Inc.,” a Chinese Penny […]

Read More »

FINRA Bars Hornor Townsend Broker In Investigation

January 28, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Andrew Scott Jensen of Atlanta Georgia a stockbroker formerly employed by Hornor Townsend Kent Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Jensen neglected to provide information to FINRA after it was formally requested of him by the regulator. Case No. 2016049110601 […]

Read More »

DesPain Broker Barred In Woodbridge Promissory Note Investigation

Jay R. Weiser of Collinsville Illinois a stockbroker formerly employed by DesPain Financial Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Weiser failed to cooperate with FINRA’s investigation into accusations of hm selling promissory notes and securities interests away from […]

Read More »

Ameriprise Accused Of Variable Annuity Twisting

January 28, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Sherry Dee Johnson (also known as Sherry D. Sandwick) of Minneapolis Minnesota a stockbroker currently registered with Ameriprise Financial Services Inc. is the subject of a customer initiated investment related written complaint on September 22, 2016 where the customer sought $16,093.40 in damages founded on allegations that Johnson’s existing annuity was surrendered and transitioned into […]

Read More »

Citigroup Global Broker Suspended For Dodging Suitability Inquiry

January 28, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Donald Joseph Coleman of New York New York a stockbroker formerly employed by Citigroup Global Markets Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Coleman obstructed a FINRA inquiry into his activities which possibly concerned his termination from Citigroup Global […]

Read More »

Customer Accuses Wells Fargo of $500,000 Fraud

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

Mitchell Steven Rock of New York New York a stockbroker formerly employed by Wells Fargo Advisors is the subject of a customer initiated investment related written complaint on July 3, 2018 where the customer requested $500,000.00 in damages supported by accusations that between January 19, 2017 and September 29, 2017: (1) Rock made misrepresentations to […]

Read More »

Investor Accuses LPL Financial Of Index Annuity Fraud

January 28, 2019  |   Posted by :   |   Annuity Schemes, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

William Frank Welsh of Williamsville New York a stockbroker currently employed by LPL Financial LLC is the subject of a customer initiated investment related written complaint on November 14, 2016 where the customer requested damages estimated to exceed $5,000.00 founded on accusations that Welsh was placed into an indexed annuity that was not suitable for […]

Read More »

Cetera Accused By Investor Of Annuity Misconduct

January 28, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News, Suitability   |   0 Comments

David Lane Gabay of Tarrytown New York a stockbroker currently employed by Cetera Advisors LLC is referenced in a customer initiated investment related written complaint on September 12, 2018 in which the customer sought $52,500.00 in damages based upon accusations that Gabay was placed into a variable annuity that was not suitable for the customer […]

Read More »

Merrill Lynch Broker Fined For Outside Business Activities

Carnell Moore of Tampa Florida a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Moore engaged in unauthorized outside business activities. Letter of Acceptance Waiver and Consent No. […]

Read More »

FINRA Nails Supervisor For Ignoring Misconduct Of Top Producer

January 28, 2019  |   Posted by :   |   Elder Abuse, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Jeffrey Duane Jacobson of Minneapolis Minnesota a stockbroker formerly employed by Dougherty Company LLC 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 Jacobson failed to supervise a registered representative that executed unsuitable investment transactions in a customer’s investment […]

Read More »

Waddell Reed Broker Caught Selling Away

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

Samuel David Gurvitch of Hamden Connecticut a stockbroker formerly registered with Waddell Reed has been fined $10,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Gurvitch engaged in unapproved private securities transactions. Letter of Acceptance Waiver and Consent No. 2015044207501 (Sept. […]

Read More »

Santander Securities Continues To Be Sued By Investors For Fraud

Luis Currais Lopez of Dorchester Massachusetts a stockbroker formerly registered with Santander Securities LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought $65,000.00 in damages supported by accusations that (1) fiduciary duties were breached (2) the customer was falsely induced into inaction upon discovering volatility in the customer’s […]

Read More »

World Capital Broker Barred For Falsifying Documents

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

Mark Isidore Lamendola of Cranberry Township Pennsylvania a stockbroker formerly registered with World Capital Brokerage Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Lamendola made misrepresentations to a customer and falsified documents pertaining to a customer’s annuity purchase and […]

Read More »

Investors Sue VSR Financial For Failure to Conduct Due Diligence

Scott Vincent Kaup of Stuart Nebraska a stockbroker formerly registered with VSR Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $2,600,000.00 in damages founded on allegations that (1) misrepresentations and omissions had been made to the customer concerning investments (2) real estate security and direct […]

Read More »

Investors Accuse Citi International Of Making Risky Recommendations

January 28, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Jaime M. Musa of Miami Florida a stockbroker currently registered with Citi International Financial Services LLC is the subject of a customer initiated investment related written complaint on February 10, 2018 where the customer requested $182,942.92 in damages based upon accusations that Musa’s recommendation for the customer to purchase Qwest Corp securities was inappropriate given […]

Read More »

BMO Harris Financial Blamed For Annuity Investment

Paul Dennis Benish of Janesville Wisconsin a stockbroker formerly employed by BMO Harris Financial Advisors Inc. is referenced in a customer initiated investment related complaint on September 23, 2016 where the customer sought $44,000.00 in damages based upon allegations that (1) the terms and conditions of a variable annuity investment sold to the customer had […]

Read More »

Investors Sue Oppenheimer For Failure to Supervise ETF Trades

James Francis Lowe of New York New York a stockbroker and supervisor currently registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $25,000.00 in damages founded on accusations that Lowe failed to supervise one of the firm’s financial advisors servicing the customer’s account who […]

Read More »

Investors Accuse Invest Financial Of Unauthorized Trading

Johnathon Leland Cope of Canton Georgia a stockbroker formerly registered with Invest Financial Corporation is referenced in a customer initiated investment related complaint on February 19, 2016 in which the customer sought $8,015.32 in damages supported by allegations that Cope effected the sale of a mutual fund in the customer’s account without procuring the customer’s […]

Read More »

NTB Financial Caught Overcharging Customers

NTB Financial Corporation of Centennial Colorado has been censured and fined $45,000.00 by Financial Industry Regulatory Authority (FINRA) supported by allegations that the firm overcharged customers on corporate bond transactions. Letter of Acceptance Waiver and Consent No. 2015047738901 (Dec. 10, 2018). Letter of Acceptance Waiver and Consent No. 2015047738901 (Dec. 10, 2018). According to the […]

Read More »

SII Investments Broker Fired For Annuity Misconduct

Rohin Lawrence Ullberg of Flossmoor Illinois a stockbroker formerly employed by SII Investments Inc. has been terminated from employment on September 9, 2016 during a time that Ullberg had been investigated internally by the firm for purportedly making unsuitable recommendations to customers of the firm regarding the liquidation of their annuity investments. Financial Industry Regulatory […]

Read More »

LPL Financial Sued By Investors For Annuity Fraud

Gary T. Plessl of Allentown Pennsylvania a stockbroker formerly registered with LPL Financial LLC is referenced in a customer initiated investment related arbitration claim on February 28, 2017 where the customer sought $250,000.00 in damages based upon allegations that (1) misrepresentations had been made to the customer concerning the customer’s investments in variable annuities and […]

Read More »

Regulator Nails Cantone Research For Private Placement Fraud

Cantone Research Inc. a FINRA member brokerage firm headquartered in Tinton Falls New Jersey and its president Anthony Joseph Cantone have been sanctioned by Financial Industry Regulatory Authority (FINRA) according to a National Adjudicatory Council Decision containing findings that (1) the firm and Cantone made misrepresentations concerning securities sold through private placements (2) the firm […]

Read More »

FINRA Catches Edward Jones Broker Altering New Account Forms

January 19, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Donald Logan of Silverdale Washington a stockbroker formerly employed by Edward Jones has been fined $25,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based in part upon consenting to findings that Logan effected unauthorized trades in customer accounts and caused customers to sign incomplete […]

Read More »

Investors Sue World Equity Group For Negligence

Richard Steven Babjak Jr. of Arlington Heights Illinois the president of World Equity Group Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $14,500.00 in damages supported by accusations that contractual obligations to the customer had been breached and the customer’s account was handled in a negligent manner. Financial […]

Read More »

FINRA Bars LPL Financial Broker For Failure To Respond

January 19, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Gregory Allen Zale of Mesa Arizona a stockbroker formerly employed by LPL Financial LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Zale failed to provide FINRA with information requested of him. Case No. 2016050228801 (Mar. 17, 2017). According to FINRA Public Disclosure, […]

Read More »

Wells Fargo Sued By Investors For Annuity Misconduct

Richard William Schloss of Canton Ohio a stockbroker formerly employed by Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related arbitration claim which was settled to resolve allegations that Schloss inappropriately placed the customer’s assets in a variable annuity which exposed the customer to unnecessary surrender penalties and illiquidity. Financial […]

Read More »

FINRA Bars Morgan Stanley Broker In Investigation

Daniel Todd Levine of Greenwood Village Colorado 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 Levine failed to cooperate with FINRA’s investigation into accusations that (1) Levine engaged in unauthorized trading of customer accounts […]

Read More »

Investors Sue BMO Harris Over Handling Of Trust Accounts

Craig Robert Kowitt of Libertyville Illinois a stockbroker formerly registered with BMO Harris Financial Advisors Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested as much as $70,000.00 in damages supported by allegations that Kowitt breached his contractual obligations to the customer and violated regulatory rules and securities […]

Read More »

NYLife Broker Fired For For Outside Business Activities

James Wayne Brink of Stockton California a prior broker of NYLife Securities LLC has been discharged by the firm on December 29, 2016 founded on accusations that (1) Brink engaged in outside business activities without having procured the firm’s permission and (2) Brink violated the firm’s policy by engaging in activities when Brink took possession […]

Read More »

Spartan Capital Broker Barred For Lying To Regulators

January 19, 2019  |   Posted by :   |   Boilerroom, Stockbroker Fraud News   |   0 Comments

Charles Gonzalez of New York New York a stockbroker formerly employed by Spartan Capital Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in undisclosed outside business activities and falsified testimony to FINRA personnel in the course of […]

Read More »

LPL Sued By Investors For Wrongful ETF Strategy

Cory Ryan Burnell of Valley Springs California a stockbroker formerly registered with LPL Financial LLC and investment adviser representative of Blueprint Wealth Partners LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $500,000.00 in damages based upon allegations that Burnell was responsible for the bad investment recommendations pertaining […]

Read More »

SunTrust Broker Discharged For Altering Investor Documentation

January 19, 2019  |   Posted by :   |   FINRA Securities Arbitration, Forgery, Stockbroker Fraud News   |   0 Comments

Ahmet Kildis of Hudson Florida a stockbroker formerly registered with SunTrust Investment Services Inc. has been discharged by the firm on March 13, 2018 based upon accusations that Kildis modified a customer’s signed documentation in violation of the firm’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Kildis has been identified in two […]

Read More »