Bond Fraud

Archive | Bond Fraud

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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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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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 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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Wells Fargo Sued By Investors For Bad Fixed Income Advice

Michael Jay Sharenow of Florham Park New Jersey a stockbroker formerly registered with Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim which was settled for $150,000.00 in damages founded on allegations that Sharenow placed the customer in bad municipal debt investments including municipal bonds. Financial Industry Regulatory Authority (FINRA) […]

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Investors Sue RBC For Bad Municipal Bond Advice

Lisa Jacqueline Lowi (also known as Lisa Jacqueline Vineberg) of West Palm Beach Florida a stockbroker formerly registered with RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim which was settled for $25,000.00 in damages based upon allegations that (1) the customer was placed into inappropriate and speculative municipal debt […]

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Investors Sue RBC Capital Markets For Bad Fixed Income Advice

Jeffrey Alan Fladell of Florham Park New Jersey a stockbroker formerly registered with RBC Capital Markets 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 accusations that the Puerto Rico bond transactions effected in the customer’s investment account during the time Fladell […]

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Raymond James Stockbroker Admits To Unauthorized Trading

Clifford C. Vatter III of Louisville Kentucky a stockbroker formerly registered with Raymond James Associates Inc. is the subject of an Order issued by the Commissioner of the Commonwealth of Kentucky Department of Financial Institution in which Vatter’s application to employed by International Assets Management LLC was retracted and Vatter consented to not registering as […]

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Ross Sinclaire Sanctioned For Municipal Bond Fraud

Ross Sinclaire Associates LLC a securities broker dealer headquartered in Cincinnati Ohio has been censured and fined $200,000.00 by Financial Industry Regulatory Authority (FINRA) based upon findings that (1) Ross Sinclaire did not make required disclosures to investors concerning its municipal offering and (2) Ross Sinclaire failed to supervise activities relating to stockbrokers’ direct market […]

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Morgan Stanley Sued By Investors For Churning

Jeffrey Neil Cadan of New York New York a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim that settled for $1,200,000.00 in damages supported by accusations that between 2011 and 2016, Cadan executed excessive government debt trades in the customer’s account causing the customers losses. Financial […]

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Investors Capital Corp Sued By Investors For REIT Misconduct

Donnie Eugene Ingram of Winter Haven Florida a stockbroker associated with Cetera Advisors LLC and Investors Capital Corp. is referenced in a customer initiated investment related arbitration claim which was resolved for $23,000.00 in damages founded on accusations that Ingram executed unsuitable corporate debt and real estate investment trust trades in the customer’s account. Financial […]

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Investors Sue Popular Securities For Unsuitable Bond Recommendations

Jose R. Juanarena Ferrari of San Juan Puerto Rico a stockbroker formerly registered with Popular Securities LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $125,000.00 in damages based upon accusations that Ferrari made inappropriate investment recommendations to the customer concerning the purchases of closed end funds […]

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Investors Sue RBC For Unsuitable Municipal Bond Recommendations

Eugene Henry Freund of New York New York a stockbroker formerly employed by RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim which was settled for $157,500.00 in damages founded on allegations that bad municipal debt investment transactions were executed in the customer’s account during the time Freund was associated […]

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J.W. Korth Sanctioned For Overcharging Customers

J.W. Korth Company a securities broker dealer headquartered in Lansing Michigan has been censured by Financial industry Regulatory Authority (FINRA) according to a National Adjudicatory Council Decision affirming a Hearing Panel’s findings of the firm overcharging customers on municipal and corporate debt securities transactions effected in customers’ accounts. In the matter of Department of Enforcement […]

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Investors Accuse Wells Fargo With The Failure To Disclose Fees

Douglas Hart Birnie of Herndon Virginia a stockbroker formerly employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on May 17, 2018 where the customer sought more than $5,000.00 in damages based upon allegations that on January 24, 2018: (1) omissions had been made to the customer […]

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Investors Accuse Morgan Stanley Unsuitable Bond Recommendations

Bryan Jeffrey Schon of Bloomfield Hills Michigan a stockbroker currently registered with Morgan Stanley is the subject of a customer initiated investment related written complaint on December 11, 2017 in which the customer requested unspecified damages supported by accusations that between 2014 and 2016, energy bond transactions effected in the customer’s account were not suitable […]

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AXA Advisors Sanctioned By FINRA For Fraudulent Bond Sales to Retirement Accounts

AXA Advisors LLC a securities broker dealer headquartered in New York New York has been censured and fined $600,000.00 by Financial industry Regulatory Authority (FINRA) based on findings that (1) AXA Advisors made misrepresentations about the bonds sold to the firm’s retirement account customers and (2) AXA Advisors neglected to supervise its practices to ensure […]

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Investors Accuse Morgan Stanley Of Unauthorized Trading

Rick Alan Davidson of New York New York a stockbroker formerly employed by Morgan Stanley is the subject of a customer initiated investment related complaint on May 15, 2017 where the customer sought $21,000.00 in damages supported by allegations that unauthorized corporate debt trades were executed in the customer’s account while Davidson was associated with […]

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Investors Sue Santander Securities For Fraud

Arturo Colon of Mayaguez Puerto Rico a stockbroker formerly employed by Santander Securities LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $150,000.00 in damages founded on accusations that (1) the customer’s account transactions had been negligently administered (2) contractual obligations were breached (3) securities rules and […]

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Oriental Financial Sued By Investors For Fraud

Pedro Juan Rodriguez Rivera of San Juan Puerto Rico a stockbroker formerly registered with Oriental Financial Services Corp. is the subject of a customer initiated investment related arbitration claim in which the customer requested $463,417.00 in damages supported by accusations that (1) misrepresentations had been made to the customer concerning the risks of investments chosen […]

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Merrill Lynch Sued By Investors For Municipal Bond Fraud

Derek David Rosenberg of Las Vegas Nevada a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim which was settled for $70,000.00 in damages based upon allegations that misrepresentations had been made to the customer concerning municipal debt investments selected for the customer’s account […]

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Popular Securities Sued By Investors In Puerto Rican Bonds

April 10, 2019  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Yolanda M. Rosich Clemente of San Juan Puerto Rico a stockbroker currently registered with Popular Securities is referenced in a customer initiated investment related arbitration claim in which the customer requested $235,000.00 in damages supported by accusations that the customer was inappropriately advised to invest in Puerto Rico securities including closed end fund and government […]

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Investors Sue Morgan Stanley For Sale Of Unsuitable Bonds

Mikhail Jared Hess of San Francisco California stockbroker currently registered with Morgan Stanley is referenced in a customer initiated investment related arbitration claim where the customer sought $75,000.00 in damages supported by accusations that between October of 2014 and January of 2016, unsuitable corporate debt transactions had been effected in the customer’s account. Financial industry […]

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Investors Accuse Stifel Nicolaus Of Fraud

Keith Edwin Downard of Canfield Ohio a stockbroker currently employed by Stifel Nicolaus Company Inc. is the subject of a customer initiated investment related complaint which settled for $51,242.45 in damages on April 8, 2016 supported by allegations that misrepresentations had been made to the customer concerning the risks of mortgage-related asset-backed debt investments purchased […]

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JP Turner Sued By Investors For Bonds Fraud

Thomas Earl Wilkinson III of Mesa Arizona a stockbroker formerly registered with J.P. Turner Company LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $32,500.00 in damages supported by accusations that the customer was placed in unsuitable corporate debt products including Puerto Rico bonds and Brogdon bonds. Financial […]

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Investors Sue Morgan Stanley For Bond Fraud

February 20, 2019  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Angel Edgardo Aquino-Velez of Miami Florida a stockbroker formerly employed by Morgan Stanley is referenced in a customer initiated investment related arbitration claim where the customer requested unspecified damages founded on accusations that between 2011 and 2017, closed-end fund and municipal debt transactions were executed in the customer’s account that were not suitable for the […]

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Investor Sues Hennion Walsh For Muncipal Bond Fraud

Marc S. Strafaci of Parsippany New Jersey a stockbroker currently registered with Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $83,000.00 in damages supported by accusations that Strafaci made unsuitable investment recommendations to the customer concerning municipal debt products that the customer ultimately purchased and […]

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Investors Accuse Capital One Of Misconduct In Connection With Bond Sales

Anthony N. Macaluso of Floral Park New York a stockbroker formerly employed by Capital One Investing LLC is referenced in a customer initiated investment related written complaint on January 4, 2017 in which the customer requested unspecified damages supported by accusations that the customer’s managed wrap account held investments that were not suitable for the […]

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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 […]

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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. […]

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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 […]

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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 […]

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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 […]

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Investors Sue Sterne Agee Leach For Fraud

Aaron Lupuloff of Atlanta Georgia a stockbroker formerly registered with Sterne Agee Leach Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $5,005,000.00 in damages based upon allegations that the customer was defrauded by being sold taxable revenue bonds. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02134 (Aug. […]

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Investors Sue JP Morgan Securities For Misrepresentation

Jerry Michael Rayburn of Lake Grove New York a stockbroker currently registered with J.P. Morgan Securities LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $74,927.40 in damages founded on accusations that (1) misrepresentations had been made to the customer concerning the customer’s investments in mutual funds […]

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Investor Accuses Morgan Stanley Of Fixed Income Fraud

Carlos Aurelio Alvarado of Houston Texas a stockbroker currently employed by Morgan Stanley is referenced in a customer initiated investment related written complaint on November 8, 2018 where the customer sought unspecified damages supported by accusations that between 2005 and 2018, Alvarado executed corporate debt transactions in the customer’s account that were not suitable for […]

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Investors Accuse BOK Financial Of Deceptive Sales Practices

John Mark Johnston of Broken Arrow Oklahoma a stockbroker formerly employed by BOK Financial Securities Inc. has been referenced in a customer initiated investment related complaint involving where the customer sought $120,000.00 in damages founded on accusations that Johnston deceived customers in the course of selling them corporate debt investments and direct participation program or […]

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Oppenheimer Broker Suspended For Bad Recommendations

Peter Chris Marketos of Paramus New Jersey a stockbroker formerly employed by Oppenheimer Co Inc. and Raymond James Associates Inc. has been fined $20,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Marketos made unsuitable investment recommendations to […]

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Santander Securities Sued By Investor For Securities Fraud

November 30, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Robert Luis Maldonado of Guaynabo Puerto Rico a stockbroker formerly registered with Santander Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $500,000.00 in damages founded on allegations of (1) violations of securities laws (2) breach of contract (3) supervisory failures (4) negligence (5) breach of fiduciary duty […]

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Wells Fargo Sued For Bad Municipal Bond Investments

November 30, 2018  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Ross Allen Stein of New York New York a stockbroker currently employed by Wells Fargo Clearing Services is referenced in a customer initiated investment related arbitration claim which settled for $32,500.00 in damages based upon accusations that Stein placed municipal debt purchases in the customer’s account that were not suitable for the customer. FINRA Arbitration […]

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Investor Sues Santander Securities For Fraud

November 12, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Ricardo Antonio Rodriguez Vazquez of Guaynabo Puerto Rico a stockbroker formerly employed by Santander Securities LLC is the subject of a customer initiated investment related arbitration claim on April 10, 2018 where the customer sought $979,000 in damages based upon accusations of (1) negligence (2) failure to supervise (3) breach of the duty of good faith […]

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Wells Fargo Sued By Investor For Securities Fraud

November 12, 2018  |   Posted by :   |   Bond Fraud, Securities Fraud, Stockbroker Fraud News   |   0 Comments

Raymond Phillip Kvalvog of Fargo North Dakota a former Wells Fargo Advisors LLC branch manager has been ordered by an Arbitration Panel to pay a customer $75,383.75 in compensatory damages based on the Panel finding Kvalvog and Wells Fargo liable for committing fraud by steering the customer into placing more than $2,000,000.00 of the customer’s […]

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Investor Sues Santander Securities For Fraud

November 03, 2018  |   Posted by :   |   Bond Fraud, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Lazaro Armando Fernandez Paredes of Dorchester Massachusetts a stockbroker formerly registered with Santander Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $100,000.00 in damages founded on accusations that (1) transactions were executed in the customer’s account that were not suitable for the customer (2) the customer’s account […]

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Merrill Lynch Accused By Investor Of Misrepresentation

October 22, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Catherine Mercedes Santiago Toca of Guaynabo Puerto Rico a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim in which the customer requested $1,250,000.00 in damages based upon allegations that between July 2011 and August 2017, (1) Toca made investment recommendations to the […]

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Cantella Broker Barred In FINRA Inquiry

Robert William Griffin of Poetry Texas 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 allegations that he failed to provide FINRA with information that had been requested of him. FINRA Public Disclosure confirms that Griffin had been […]

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Investor Blames HSBC For Bad Bond Investments

Brian David Schwartz of New York New York a stockbroker currently employed by HSBC Securities (USA) Inc. is referenced in a customer initiated investment related written complaint which was resolved for $10,000.00 on October 3, 2017 supported by allegations that transactions were placed in the customer’s account that were not suitable for the customer because […]

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Investor Sues Wells Fargo For Excessive Trading

October 22, 2018  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Michael Walter Ollmann of Waukesha Wisconsin a stockbroker formerly employed by Wells Fargo Advisors LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $125,000.00 in damages founded on accusations that Ollmann excessively traded municipal debt products in the customer’s account and caused the customer to suffer unwarranted investment […]

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Investor Sues LPL Financial For Bad Bonds

Rey Whitehorn of Hallandale Florida a stockbroker currently employed by LPL Financial LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought more than $5,000.00 in damages supported by allegations that unsuitable corporate-debt transactions were executed in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01192 (Apr. […]

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TD Ameritrade Accused Of Providing Investor Bad Information

September 28, 2018  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Joseph Edward Sorok of Great Neck New York a stockbroker currently registered with TD Ameritrade Inc. is referenced in a customer initiated investment related written complaint on July 9, 2018 where the customer sought $182,728.00 in damages supported by accusations that the customer was poorly advised concerning investments in municipal debt products. Financial Industry Regulatory […]

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Investor Sues Hennion Walsh For Bad Bond Recommendations

Patrick Timothy Walsh of Parsippany New Jersey a stockbroker currently registered with Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $100,000.00 in damages founded on accusations that municipal-debt transactions executed in the customer’s account were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) […]

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The Investment Center Terminates Stockbroker For Fraud

Thomas Ohearn Eifler Sr. of Louisville Kentucky a stockbroker formerly registered with The Investment Center Inc. has been terminated from the firm on February 28, 2017 founded on accusations against Eifler of breach of contract and fraud as referenced in a civil action filed against Eifler. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that […]

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Edward Jones Accused by Investors Of Unauthorized Trading

Larry Eugene King II of Kalkaska Michigan a stockbroker currently employed by Edward Jones is the subject of a customer initiated investment related written complaint on November 24, 2017 where the customer requested damages estimated to exceed $5,000.00 based upon allegations that unauthorized government debt trades had been effected by King in the customer’s investment […]

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SEC Fines Morgan Stanley Broker For Misrepresentation

September 12, 2018  |   Posted by :   |   Bond Fraud, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Nicholas Michael Bonacci of New York New York a stockbroker formerly employed by Morgan Stanley Co. LLC is the subject of an SEC Order requiring Bonacci (1) be suspended for twelve months from associating with any broker or investment adviser (2) pay a $100,000.00 civil penalty and (3) cease and desist from committing current and […]

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Morgan Stanley Sued For Bad Municipal Bond Sales

John Thomas Guzy of Morristown New Jersey a stockbroker formerly employed by Morgan Stanley Smith Barney is the subject of a customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages supported by allegations that between 2012 and 2015, the customer was placed in municipal debt investments that were not suitable for […]

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FINRA Fines Summit Stockbroker For Unsuitable Recommendations

Richard Stephen Hughes of Wilmington Illinois a stockbroker formerly employed by Summit Brokerage Services Inc. 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 upon consenting to findings that he made unsuitable recommendations to customers regarding mutual fund and unit investment […]

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Investor Sues Wells Fargo For Bad Recommendations

September 12, 2018  |   Posted by :   |   Bond Fraud, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

John Wesh of Knoxville Tennessee a stockbroker currently employed by Wells Fargo Clearing Services, LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $70,937.83 in damages supported by accusations that Wesh made inappropriate investment recommendations to the customer regarding Fannie Mae equities that were ultimately purchased in the customer’s […]

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Investors Accuse Wells Fargo Of Bad Annuity Investments

Donald John Chiodo of Clare Michigan 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, 2016 where the customer sought $82,841.00 in damages based upon allegations that between April 30, 2015 and May 13, 2016, variable annuity investment recommendations […]

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SEC Makes Wong Gone In Very Profitable RMBS Scam

David F. Wong of New York New York a stockbroker formerly employed by Barclays Capital Inc. has been suspended by Securities and Exchange Commission (SEC) from associating with any broker-dealer or investment adviser according to an Order containing findings that Wong (1) made misleading or false statements to customers of the firm and (2) charged […]

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Presidential Brokerage Sued For Bad Mutual Fund Sales

Gregory Jon Williams of Greenwood Village Colorado a stockbroker currently employed by Presidential Brokerage Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $151,337.00 in damages based upon allegations of misrepresentation and suitability pertaining to the customer’s investments in (1) mutual funds (2) corporate-debt products and (3) non-traded […]

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Wells Fargo Broker Fired For Mismarking Order Tickets

August 17, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Robert Wayne Shealy Jr. of Columbia South Carolina a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been discharged on June 28, 2018 founded on allegations that Shealy violated the procedures and policies of the firm by mismarking fixed-income order tickets as having been unsolicited. The firm concluded those orders were solicited by […]

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Mount Laurel Stockbroker Accused Of Selling Bad Bonds

Earl Marks a stockbroker with RBC Capital Markets in Mount Laurel, New Jersey was recently the subject of a customer intiated, investment related complaint filed before the Financial Industy Regulatory Authority seeking damages in excess of $500,000 resulting from the sale of Residential Mortgage Backed Securities (RMBS) and other high yield securities.  FINRA Arbitration No. […]

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Customer Accuses RBC Capital Unsuitable Recommendations

Michael Eric Bourke of Florham Park New Jersey a stockbroker currently employed by RBC Capital Markets LLC is referenced in a customer initiated investment related written complaint on April 30, 2018 in which the customer requested $115,000.00 in damages based upon allegations that the customer’s assets were allocated in an equity position that was not […]

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Customer Sues Merrill Lynch For Misrepresentation

July 31, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Dario Alberto Ochoa (also known as Dario Ochoa Garcia) of Guaynabo Puerto Rico a stockbroker currently registered with Merrill Lynch is the subject of a customer initiated investment related arbitration claim in which the customer accused Ochoa to have made misrepresentations to the customer as well as unsuitable investment recommendations in reference to foreign-debt and […]

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BBVA Securities Accused of Note Fraud

July 16, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Jeffrey Scott Richman of Boulder Colorado a stockbroker formerly employed by BBVA Securities Inc. is referenced in a customer initiated investment related written complaint on April 1, 2018, which was resolved for $29,669.65 in damages supported by accusations that the customer was sold an unsuitable corporate note given the lack of Federal Deposit Insurance Corporation […]

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National Securities Discharges Broker For Cause

June 30, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Roger Charles Faubel of Boardman Ohio a stockbroker formerly employed by National Securities Corporation has been discharged on November 2, 2017 founded on accusations that Faubel disseminated customer account information in violation of the firm’s policy. This is not the first time that Faubel has been terminated for alleged misconduct. Particularly, on October 12, 2007, […]

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RBC Capital Markets Sued For Bond Fraud

June 30, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Eugene Henry Freund of New York New York a stockbroker formerly registered with RBC Capital Markets LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $500,000.00 in damages supported by accusations that the customer was placed in unsuitable municipal bonds between 2001 and 2016. Financial Industry Regulatory […]

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National Securities Corporation Sued For Negligence

June 30, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

John Thomas Holly Sr of National Securities Corporation is referenced in a customer initiated investment related arbitration claim where the customer sought $500,000.00 in damages founded on accusations including (1) breach of contract (2) negligence and (3) breach of fiduciary duty relating to the customer’s government debt investments. Financial Industry Regulatory Authority (FINRA) Arbitration No. […]

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Suspended LPL Broker Unsuspended

Shane Jason Kelly of Port Saint Lucie Florida a stockbroker formerly registered with LPL Financial LLC had been suspended with associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Kelly failed to provide FINRA with a response to its request for his information. Case No. 2017054666601 (Jan. 29, […]

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Morgan Stanley Accused Of Corporate Debt Misconduct

June 25, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

James Henry Duffy of Riverhead New York a stockbroker registered with Morgan Stanley is the subject of a customer initiated investment related written complaint on April 12, 2018 in which the customer alleged that municipal and corporate debt investments were purchased in the customer’s accounts that were not appropriate for the customer. Financial Industry Regulatory […]

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Customer Sues Morgan Stanley For Bad Investments

June 25, 2018  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Marc Frederick Strasser of Boca Raton Florida a stockbroker currently registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim in which the customer requested $50,000.00 in damages based upon accusations that unsuitable municipal debt transactions had been executed in the customer’s account between 2011 and 2016. FINRA Arbitration No. […]

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Customer Accuses FMSBonds Of Misrepresentation

June 21, 2018  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Zachary Evan Feinsilver of North Miami Beach Florida a stockbroker currently registered with FMSbonds Inc. is referenced in a customer initiated investment related written complaint on February 12, 2018 in which the customer requested $75,000.00 in damages supported by allegations that (1) the customer’s municipal debt purchases and sales were induced by Feinsilver’s misrepresentations and […]

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Morgan Stanley Accused Of Bond Fraud

June 21, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Gloria Ann Walas of Pepper Pike Ohio a stockbroker currently registered with Morgan Stanley is the subject of a customer initiated investment related written complaint on February 26, 2018 where the customer alleged that the customer’s municipal bond investment was induced by misrepresentation. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that on July […]

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FINRA Securities Lawyers Sue UBS For Bond Fraud

June 12, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

John Robert Morris of Warren New Jersey a stockbroker currently registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $1,300,000.00 in damages founded on allegations that between 2011 and 2015, energy sector investments and municipal bonds had been misrepresented to the customer […]

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Janney Stockbroker Barred By FINRA In Investigation

June 12, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

David Aaron Seigerman of Bedminster 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 founded on allegations that he failed to respond to a request by FINRA for Seigerman’s information. Case No. 2016050466901 (July 29, 2016). FINRA […]

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Customer Accuses Merrill Lynch Of Misrepresentation

May 31, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Ashish D. Mathur of New York New York a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint on February 1, 2018 where the customer alleged that (1) misrepresentations and omissions had been made to the customer concerning foreign-debt investments and (2) unsuitable investment […]

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Deutsche Bank Pays $4.3 Million For Bond Fraud

May 17, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Douglas Scott Wall of Dallas Texas a stockbroker formerly registered with Deutsche Bank Securities Inc. is the subject of a customer initiated investment related written complaint which was resolved for $4,350,000.00 on September 27, 2016 based upon allegations of (1) misrepresentations concerning convertible debentures (2) undisclosed commissions (3) mishandling of the customer’s account and (4) […]

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UBS Sued For Trigger Yield Optimization Notes

Robert Edward DeForest of West Palm Beach Florida is a stockbroker currently registered with UBS Financial Services Inc. who is the subject of a customer initiated investment related arbitration claim where the customer sought $95,000.00 in damages based upon allegations that DeForest recommended trigger yield optimization notes between June of 2014 and September of 2015 […]

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Morgan Stanley Accused Unsuitable Bond Recommendations

April 08, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Jimmy Yang Driggers of Sarasota Florida is a stockbroker currently registered with Morgan Stanley who is the subject of a customer initiated investment related written complaint on November 22, 2016 in which the customer requested $64,000.00 in damages based upon allegations that between 2014 and 2016, purchases of corporate bonds had been executed in the […]

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David Lerner Associates Sued By Customer For Omissions

April 08, 2018  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Robert Spencer Cavanagh of Syosset New York is a stockbroker currently registered with David Lerner Associates, Inc. who is the subject of a customer initiated investment related arbitration claim where the customer sought $160,000.00 in damages supported by accusations that (1) omissions and misrepresentations had been made to the customer and (2) municipal debt transactions […]

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Deutsche Bank Fires Stockbroker Over Suitability Policy

April 05, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Kurt Wesley Haney of Dallas Texas is a stockbroker formerly registered with Deutsche Bank Securities Inc. who has been terminated on April 21, 2016 based upon allegations that he failed to conform to the firm’s policies concerning the suitability of investments for the firm’s customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on […]

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Morgan Stanley Sued By Customer For Suitability

March 12, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Jeffrey Joseph McDonald of Palm Harbor Florida is a stockbroker currently registered with Morgan Stanley who is the subject of a customer initiated investment related arbitration claim where the customer requested two hundred fifty thousand dollars in damages supported by allegations that unsuitable investment recommendations had been made to the customer relating to buying and […]

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Morgan Stanley Accused By Customer Of Misrepresentation

March 07, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Joseph Smith Stern III of San Francisco California is a stockbroker currently associated with Morgan Stanley who is the subject of a customer initiated investment related written complaint on September 26 2017 in which the customer alleged that Stern made misrepresentations to the customer between 2012 and 2017 regarding the risks relating to high yield […]

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Ross Sinclaire Sued By Customer For Misrepresentation

February 20, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Robert Steven Clarke of Cincinnati Ohio is a stockbroker formerly registered with Ross Sinclaire & Associates LLC who is the subject of a customer initiated investment related arbitration claim in which the customer sought five hundred thousand dollars in damages founded on allegations that misrepresentations were made to the customer regarding collateralized mortgage obligations products. […]

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Corecap Investments Sued By Customer For Fraud

January 26, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Wayne Thomas Boucher, of Southfield, Michigan, a stockbroker formerly registered with Corecap Investments, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $750,000.00 in damages supported by accusations that risky and unsuitable corporate bond purchases were executed in the customer’s account, and the customer was defrauded in […]

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Customer Accuses Oppenheimer Of Misrepresentation

January 26, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Eric Brian Rosenberg, of New York, New York, a stockbroker currently registered with Oppenheimer & Co. Inc., is the subject of a customer initiated investment related complaint, which settled on April 5, 2016 for $35,285.00 in damages founded on allegations that Rosenberg effected a Transocean corporate bond purchase in the customer’s account that was neither […]

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Customer Accuses David Lerner Of Misrepresentation

January 26, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Daniel Todd Lerner, of White Plains, New York, a stockbroker currently registered with David Lerner Associates, Inc., is the subject of a customer initiated investment related written complaint on August 22, 2016, in which the customer sought $16,756.00 in damages founded on accusations that between August of 2015 to August of 2016, misrepresentations had been […]

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Customer Sues Stifel Nicolaus For Failure To Supervise

January 09, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Kenneth J. Christman, Jr., of Poughkeepsie, New York, a stockbroker currently associated with Stifel, Nicolaus & Company, Incorporated, is the subject of a customer initiated investment related arbitration claim, in which the customer requested $28,553.41 in damages founded on allegations that Christman failed to supervise a stockbroker’s corporate debt investments executed in the customer’s investment […]

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FINRA Fines WestPark For Failure To Supervise CMOs

January 09, 2018  |   Posted by :   |   Bond Fraud, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

WestPark Capital, Inc., located in Los Angeles, California, has been censured and fined $27,500.00 by Financial Industry Regulatory Authority (FINRA) by consenting to findings that the firm failed to create and sustain adequate supervision of collateralized mortgage obligations and failed to enforce existing supervisory practices. Letter of Acceptance, Waiver and Consent, No. 2016051690101 (Dec. 22, […]

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Customer Sues Ameriprise Financial For Suitability

November 21, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News, Unregistered Securities   |   0 Comments

William Wesley Marshall of Plano, Texas, a stockbroker currently registered with Ameriprise Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $200,000.00 in damages based upon allegations of omissions and misrepresentations and unsuitable investment recommendations relating to the sales of unregistered corporate debt securities. FINRA […]

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Morgan Stanley Sued By Customer For Suitability

November 07, 2017  |   Posted by :   |   Bond Fraud   |   0 Comments

Robert David Frank, of Madison, Wisconsin, a stockbroker registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim that settled for $7,000.00 in damages resting on allegations that between March 1, 2012 and December 31, 2015, Frank effected unsuitable municipal bond and equity transactions in the customer’s investment account. Financial […]

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Robert Lawson of Lawson Financial Barred For Securities Fraud

November 01, 2017  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud   |   0 Comments

Robert Warren Lawson, of Phoenix, Arizona, founder of Lawson Financial Corporation, has been permanently barred by the Securities and Exchange Commission (SEC) from engaging in securities sales or investment advisory services, or otherwise associating with any investment adviser or broker, according to an SEC Order containing findings that he committed securities fraud. In the Matter […]

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Florida Fines DH Hill Broker For Omissions

October 05, 2017  |   Posted by :   |   Bond Fraud   |   0 Comments

Robert Michael Dechick, of Clermont, Florida, a stockbroker formerly registered with D.H. Hill Securities, LLLP, was subject of a $5,000.00 fine, and stipulated and consented to cease and desist committing violations of National Association of Securities Dealers (NASD) Rules and Florida Statues according to a Florida Office of Financial Regulation Final Order finding that Dechick […]

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Aegis Capital Corp Sued For Misrepresentation

September 22, 2017  |   Posted by :   |   Bond Fraud   |   0 Comments

David Stewart Silberg, of Melville, New York, a stockbroker currently registered with Aegis Capital Corp., is the subject of a customer initiated investment related arbitration claim, which was settled on May 30, 2017, for $29,750.00 in damages based upon accusations that Silberg made misrepresentations and omissions to the customer about corporate debt investments, and made […]

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Wells Fargo Advisor Sued By Customer For Suitability

September 14, 2017  |   Posted by :   |   Bond Fraud   |   0 Comments

Dominick Giovannone, of Manalapan, New Jersey, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, is the subject of a customer initiated investment related written complaint on November 13, 2015, in which the customer requested $15,273.00 in damages based upon allegations that Giovannone made unsuitable investment recommendations to the customer concerning the holding of […]

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SunTrust Sued By Customer For Misrepresentation

August 31, 2017  |   Posted by :   |   Bond Fraud   |   0 Comments

Robert Lee Hunt, of Coral Springs, Florida, a stockbroker formerly registered with SunTrust Investment Services, Inc., is the subject of a customer initiated investment related arbitration claim, where the customer was awarded $17,847.00 in damages on April 3, 2017, based upon allegations that he made misrepresentations and omissions to the customer concerning investments, negligently handled […]

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Customer Sues Wells Fargo Advisors For Suitability

August 17, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Steven John Szmak, of Flemington, New Jersey, is the subject of a customer initiated investment related arbitration claim on July 21, 2015, in which the customer requested $51,596.00 in damages based upon allegations that Szmak made unsuitable investment recommendations to the customer about corporate debt investments effected in the customer’s account. Financial Industry Regulatory Authority […]

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Customer Sues UBS For Unauthorized Trading

August 02, 2017  |   Posted by :   |   Bond Fraud, FINRA Securities Arbitration   |   0 Comments

Thomas Einar Gunnersen, of Greenwood Village, Colorado, a stockbroker formerly registered with UBS Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim on August 19, 2016, in which the customer requested $31,873.00 in damages based upon allegations that Gunnersen was responsible for the customer’s losses on high yield bond transactions […]

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Sanctions Against Center Street Securities Broker Affirmed

July 29, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

David Joseph Escarcega, of Phoenix, Arizona, a stockbroker formerly registered with Center Street Securities, Inc., was the subject of a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Decision which contained findings that Escarcega, inter alia, made unsuitable investment recommendations to the customers, and fraudulently misrepresented debentures that were sold to them. In the Matter […]

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Santander Securities Broker Sued For Fraud

July 29, 2017  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud   |   0 Comments

Mariondy Fernandez, of Dorchester, Massachusetts, a stockbroker formerly registered with Santander Securities LLC, has been identified in a customer initiated investment related arbitration claim on October 4, 2016, where the customer requested $4,000,000.00 in damages based upon allegations against Fernandez of breach of contract and fiduciary obligations, negligence, over-concentration of customer assets, unsuitability, and fraud […]

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Customer Sues Morgan Stanley For Suitability

July 28, 2017  |   Posted by :   |   Bond Fraud   |   0 Comments

Mortimer Joel Altshuler Jr., of Boca Raton, Florida, a stockbroker formerly registered with Morgan Stanley Smith Barney, is the subject of a customer initiated investment related arbitration claim on April 3, 2017, in which the customer requested $18,000.00 in damages based upon allegations that Altshuler effected corporate debt transactions that were not appropriate for the […]

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Merrill Lynch Stockbroker Sanctioned For Fraud

July 05, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Jesse Joseph Holovacko, of South Amboy, New Jersey, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been sanctioned by the State of New Jersey Bureau of Securities via a $75,000.00 fine accompanied by the revocation of his securities registration pursuant to a Summary Revocation and Penalty Order containing findings that […]

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Herbert J Sims Stockbroker Sanctioned For Unauthorized Trading

July 03, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Larry Charles Wolfe, of Boca Raton, Florida, a stockbroker formerly registered with Herbert J. Sims & Co. Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver […]

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Securities America Sued For Negligence

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

Patricia Mary Loris, of Crystal Lake, Illinois, a stockbroker currently registered with Securities America, Inc., has been named in a customer initiated investment related arbitration claim on April 17, 2017, in which the customer requested $200,000.00 in damages based upon allegations that Loris breached her fiduciary and contractual duties to the customer, negligently handled the […]

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Morgan Stanley Broker Barred For Unauthorized Trading

June 08, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

John Batista Bocchino, of New York, New York, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon a FINRA Office of Hearing Officers Order Accepting Offer of Settlement containing findings that Bocchino effected unauthorized trades in customer accounts and caused an assistant of his to […]

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Jeffries Broker Suspended For Misrepresentation

June 08, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Kenneth Alan Zegar, of New York, New York, a stockbroker currently registered with Jeffries LLC, has been fined $30,000.00, stripped of his securities registration, and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made misrepresentations to customers concerning fixed income securities transactions […]

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Lawson Financial Corporation Stockbroker Sanctioned By Regulator

May 30, 2017  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

John Thomas Lynch, Junior, of Scottsdale, Arizona, a stockbroker formerly registered with Lawson Financial Corporation, was fined $22,338.00 and subject of cease and desist sanctions imposed by the Securities and Exchange Commission (SEC) pursuant to an Order Instituting Administrative Cease and Desist Proceedings Pursuant to Securities Act of 1933 Section 8A, Securities Act of 1934 […]

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BB&T Securities Sued in Arbitration For Fraud

Dean Adam Myerow, of Hasbrouck Heights, New Jersey, a stockbroker formerly registered with BB&T Securities, LLC, has been identified in a customer initiated investment related arbitration claim on April 26, 2017, in which the customer requested $125,000.00 in damages based upon allegations that included violation of MSRB and FINRA rules, failure to supervise, breach of […]

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Revere Securities Sued By Customer For Unauthorized Trading

May 18, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Baris Dincer, of New York, New York, a stockbroker formerly registered with Revere Securities LLC, has been named in a customer initiated investment related written complaint on June 1, 2016, in which the customer requested $45,000.00 in damages based upon allegations that Dincer effected unauthorized corporate debt transactions in the customer’s account. Financial Industry Regulatory […]

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Wunderlich Securities Stockbroker Suspended By Regulator

April 10, 2017  |   Posted by :   |   Bond Fraud   |   0 Comments

David K. Mallett, a stockbroker formerly registered with Wunderlich Securities, Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to respond to FINRA personnel’s information request. Letter No. 2015047762601 (Feb. 3, 2017). FINRA Public Disclosure reveals that on December 8, 2015, […]

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Another Global Arena Capital Broker Barred By Regulators

March 21, 2017  |   Posted by :   |   Boilerroom, Bond Fraud, Stockbroker Fraud News   |   0 Comments

Niaz Elmazi, of New York, New York, a stockbroker formerly registered with Global Arena Capital Corp, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he did not provide FINRA personnel with a response regarding his compliance with a customer initiated […]

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Ultralat Capital Markets Fined For Overcharging Customers

March 21, 2017  |   Posted by :   |   Bond Fraud, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Ultralat Capital Markets, Inc., a brokerage firm headquartered in Miami, Florida, has been censured and fined $140,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm charged customers with excessive markups and failed to supervise business activities to prevent non-market foreign exchange rates from being utilized or markups from being […]

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UBS Financial Services Broker Named In One Hundred FINRA Arbitrations

Ramon Manuel Almonte, of San Juan, Puerto Rico, a stockbroker currently registered with UBS Financial Services Inc. and UBS Financial Services Incorporated of Puerto Rico, has been identified in one-hundred and twenty five customer initiated investment related disputes between January 27, 2014, and February 15, 2017, in which customers’ claims are based upon allegations that […]

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Merrill Lynch Sued in Puerto Rican Bond Case

March 21, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Mark Eben Lilley, of Guaynabo, Puerto Rico, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related arbitration claim on May 11, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Lilley, from 2012 to 2016, omitted and misrepresented facts […]

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UBS Financial Services Sued by Customer For Fraud

March 21, 2017  |   Posted by :   |   Bond Fraud   |   0 Comments

Carlos Jose Freire, of San Juan, Puerto Rico, a stockbroker currently registered with UBS Financial Services Inc., and UBS Financial Services Incorporated of Puerto Rico, has been named in a customer initiated investment related arbitration claim on July 27, 2016, in which the customer requested $222,000.00 in damages based upon allegations that Freire, as the […]

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UBS Financial Services Sued for Misrepresentation

Enrique Fernandez, of San Juan, Puerto Rico, a stockbroker formerly registered with UBS Financial Services Inc., has been named in eighteen customer initiated investment related disputes between April 16, 2014, and January 6, 2017, based upon allegations that Fernandez made omissions and misrepresentations to customers concerning the safety of investments in Puerto Rico municipal bonds […]

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UBS Financial Services Sued by Customer Group Alleging Fraud

March 16, 2017  |   Posted by :   |   Bond Fraud, FINRA Securities Arbitration   |   0 Comments

David Jose Lugo, of San Juan, Puerto Rico, a stockbroker formerly registered with UBS Financial Services, has been named in one-hundred and twenty-four customer initiated investment related disputes between November 19, 2013, and January 29, 2017, based upon allegations against Lugo which include overconcentration of customer assets, misrepresentation, and unsuitability concerning the investments in Puerto […]

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UBS Financial Services Sued for Unsuitable Recommendations

Dario Suarez, of Ponce, Puerto Rico, a stockbroker currently registered with UBS Financial Services Inc. and UBS Financial Services Incorporated of Puerto Rico, has been named in a customer initiated investment related arbitration claim on January 18, 2017, in which the customer requested $1,000,000.00 in damages based upon allegations that Suarez effected unsuitable transactions involving […]

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Oriental Financial Services Corp Named In Fraud Claim

February 27, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Manuel Francisco Porrata Monserrate, of San Juan, Puerto Rico, a stockbroker formerly registered with Oriental Financial Services Corp., has been named in a customer initiated investment related arbitration claim, which settled on September 27, 2016, for $90,000.00 in damages based upon allegations that Monserrate effected unsuitable municipal debt transactions in the customer’s account in reference […]

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Wells Fargo Advisors Sued by Customer In FINRA Arbitration

February 14, 2017  |   Posted by :   |   Bond Fraud, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Michael Jay Sharenow, of Florham Park, New Jersey, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related written complaint on November 1, 2016, based upon allegations that Sharenow effected unauthorized corporate debt securities transactions in the customer’s account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals […]

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Further Lane Securities Sanctioned For Ripping Off Customers

February 14, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Further Lane Securities, L.P., a brokerage firm headquartered in New York City, New York, was censured and fined $126,673.78 by Financial Industry Regulatory Authority (FINRA) based upon an Office of Hearing Officers’ Default Decision which contained findings that the firm excessively charged customers’ mark-ups in reference to bond transactions, and did not reasonably supervise a […]

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Lawson Financial Corporation Expelled For Securities Fraud

February 14, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Lawson Financial Corporation, a brokerage firm headquartered in Phoenix, Arizona, as well as Robert Lawson (president, chief executive officer, and chief compliance officer), and Pamela Lawson (owner and chief operating officer) were sanctioned by Financial Industry Regulatory Authority (FINRA) Office of Hearing Officers according to an Order Accepting Offer of Settlement containing findings that the […]

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Investors Capital Corp Sued by Customer In Arbitration

February 13, 2017  |   Posted by :   |   Bond Fraud, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Donnie Eugene Ingram, of Winter Haven, Florida, a stockbroker formerly registered with Investors Capital Corp., has been named in a customer initiated investment related arbitration claim on November 16, 2016, in which the customer requested $906,353.70 in damages based upon allegations that Ingram effected unsuitable transactions in the customer’s account pertaining to corporate debt, equity […]

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JP Turner & Company Sued by Customer For Churning

February 13, 2017  |   Posted by :   |   Bond Fraud, Churning, Stockbroker Fraud News   |   0 Comments

Ty Kevin Bauer, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been named in a customer initiated investment related arbitration claim on March 3, 2016, in which a customer requested $500,000.00 in damages based upon allegations that from 2011 to 2016, Bauer effected unsuitable corporate debt and direct investment transactions, and churned […]

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Newbridge Securities Sued by Customer For Barred Broker Misconduct

James Walter Ignatowich, of Boca Raton, Florida, a stockbroker formerly registered with Newbridge Securities Corporation, has been named in a customer initiated investment related arbitration claim on December 21, 2016, in which the customer requested $61,469.00 in damages based upon allegations that Ignatowich violated the Iowa Securities Act, made misrepresentations to the customer, negligently handled […]

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BAC Florida Investments Stockbroker Suspended For Lying

December 17, 2016  |   Posted by :   |   Bond Fraud, Excessive Markups, Stockbroker Fraud News   |   0 Comments

Alejandro Falla, of Coral Cables, Florida, a stockbroker formerly registered with BAC Florida Investments, was fined $60,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Falla made misleading statements and omissions […]

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RBC Capital Markets Named in Customer Arbitration Alleging Unsuitability

November 30, 2016  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Paul V. Blum, of West Palm Beach, Florida, a stockbroker registered with RBC Capital Markets, LLC, is subject to a customer initiated investment related arbitration claim from August 18, 2016, in which the customer requested $525,000.00 in damages based upon allegations that Blum made unsuitable recommendations concerning investments of corporate bonds in the energy sector. […]

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EFG Capital International Stockbroker Charged With Obstructing FINRA Investigation

November 02, 2016  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Fernando de la Lama Merino, of Miami, Florida, a stockbroker formerly registered with EFG Capital International, was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that de la Lama failed to cooperate in a FINRA investigation into allegations of de la Lama’s sales practice violations. Department of Enforcement v. […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

November 02, 2016  |   Posted by :   |   Bond Fraud, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Tom Puentes, of Langley, Washington, a stockbroker formerly registered with Morgan Stanley, was fined $15,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected discretionary trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2014042676301 (Oct. 13, 2016). […]

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Lisa Lowi Customer Claims Against RBC Capital Markets Continue

November 02, 2016  |   Posted by :   |   Bond Fraud, Stockbroker Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Lisa Lowi, of Boca Raton, Florida, a stockbroker formerly registered with RBC Capital Markets, LLC, has been named in a number of customer initiated investment related arbitration claims. Specifically, between September 14, 2016, and September 16, 2016, Lowi was named in three customer initiated investment related arbitration claims, in which customers have requested millions of […]

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Former Global Arena Capital Stockbroker Named In Customer Arbitration Claim

November 02, 2016  |   Posted by :   |   Boilerroom, Bond Fraud, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Mark A. Lisser, of New York, New York, a stockbroker formerly associated with Global Arena Capital Corp, has been named in a customer initiated investment related arbitration claim on October 26, 2015, in which the customer has requested $61,458.00 in damages based upon allegations against Lisser of churning the customer’s account, using margin in the […]

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Excessive Markups Land Suspension for Further Lane Securities Stockbroker

October 10, 2016  |   Posted by :   |   Bond Fraud, Excessive Markups, Stockbroker Fraud News   |   0 Comments

James Gabriel Collard, of Boerne, Texas, was fined $5,000.00 and suspended by Financial Industry Regulatory Authority (FINRA) in connection with an Order Accepting Offer of Settlement containing findings that Collard charged customers’ excessive markups on investments. Department of Market Regulation v. James Gabriel Collard, No. 20120342425-01 (Sept. 23, 2016). According to the Order, between February […]

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Puerto Rican Bonds Land CUSO Financial Stockbroker In Fraud Lawsuit

September 28, 2016  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News, Structured Notes   |   0 Comments

Felix A. Bartolomei, of Orlando, Florida, is subject to a pending customer dispute from June 16, 2016, in which the customer requested $50,000.00 in damages after alleging securities fraud, overconcentration of the customer’s investment account, and unsuitability of investments in connection with the customer’s purchase of closed-end funds and Puerto Rico bonds. FINRA Public Disclosure […]

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Jefferies Managing Director Fined For Lying

September 16, 2016  |   Posted by :   |   Bond Fraud, Excessive Markups   |   0 Comments

Kevin J. Blaney, of Stamford, Connecticut, a stockbroker with Jefferies LLC, was fined $30,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he made misrepresentations to customers in connection with fixed income securities. Letter of Acceptance, Waiver and Consent, No. 20160499622-01 (Sept. 1, […]

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Morgan Stanley Stockbrokers Charged With Misrepresentations

September 16, 2016  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

John Batista Bocchino and Rafael Barela Jacinto, of New York, New York, stockbrokers with Morgan Stanley Smith Barney, were charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that the individuals engaged in material misrepresentations and omissions concerning bond investments, unauthorized activity in connection with such, and falsified firm records. […]

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Further Lane Securities Executive Suspended For Failure to Supervise

September 09, 2016  |   Posted by :   |   Bond Fraud, Excessive Markups, Failure To Supervise   |   0 Comments

Joseph Michael Araiz, of New York, New York, the chief executive officer of Further Lane Securities, L.P., was fined $45,000.00 and suspended from associating with a Financial Industry Regulatory Authority in any principal capacity, and had his licensure revoked in connection with an Office of Hearing Officers’ Order Accepting Offer of Settlement containing allegations of […]

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Capital City Securities Stockbroker Barred For Selling Fake Investments

August 17, 2016  |   Posted by :   |   Bond Fraud, Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Lawrence Randolph Roberson, of Detroit, Michigan, a stockbroker with Capital City Securities, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he made fraudulent misrepresentations and omissions concerning the sale of a bond investment to a customer. Letter of Acceptance, Waiver […]

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Kildare Capital Stockbroker Charged With Fraud

August 08, 2016  |   Posted by :   |   Bond Fraud, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

William Norris Jordan Jr., of Philadelphia, Pennsylvania, a stockbroker with Kildare Capital, Inc., was named in a Complaint by Financial Industry Regulatory Authority (FINRA) Department of Enforcement alleging that Jordan partook in a deceptive and fraudulent scheme concerning round trips of municipal securities, charged customers excessive prices, and provided false information to his firm as […]

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Kildare Capital Municipal Securities Trader Suspended

August 08, 2016  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

David M. Joyce, a municipal securities trader for Kildare Capital, Inc., was fined $25,000.00 and suspended for twelve months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unlawful pre-arranged round trip transactions. Letter of Acceptance, Waiver and Consent, No. 20120317482-02 (June […]

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Invex Stockbroker Suspended For Selling Away

Francisco G. Hervella, of Miami, Florida, a stockbroker with Invex Inc., was fined $50,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity for two years after consenting to findings that he engaged in unauthorized outside business activities as well as unauthorized private securities transactions. Letter of Acceptance, Waiver […]

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Lawson Financial Corporation Charged With Securities Fraud

June 08, 2016  |   Posted by :   |   Bond Fraud, Elder Abuse, Stockbroker Fraud News   |   0 Comments

Lawson Financial Corporation, as well as Robert Lawson (the firm’s president, chief compliance officer, and chief executive officer), and Pamela Lawson (the firm’s owner and chief operating officer) were charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging securities fraud in the sale municipal revenue bonds. Department of Enforcement v. […]

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Oakbridge Financial Services Stockbroker Charged With Fraud

Steven A. Larson, of Saint Louis, Missouri, a stockbroker with Oakbridge Financial Services, Inc., was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Larson made material omissions and false statements to clients concerning investments. Department of Enforcement v. Larson, No. 2014039174202 (May 11, 2016). According to the Complaint, Larson […]

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Global Arena Capital Corporation Stockbroker Suspended For Bogus Advertising

May 26, 2016  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Michael J. Russo, of Melville, New York, a stockbroker with Global Arena Capital Corporation, was fined $35,000.00, and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he sent false and/or misleading statements to prospective customers regarding investment opportunities; and also […]

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Jefferies LLC Principal Suspended For Failure To Supervise

May 26, 2016  |   Posted by :   |   Bond Fraud, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

William H. Jennings II, of New York, New York, a securities principal with Jefferies LLC, was fined $30,00.00 and suspended in a principal capacity for three months, and had his principal license revoked after consenting to findings that he failed to supervise representatives who made misrepresentations to firm customers. Letter of Acceptance, Waiver and Consent, […]

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Further Lane Securities Charged With Excessive Markups

Further Lane Securities, L.P., stockbroker James Gabriel Collard, and Chief Executive Officer Joseph Michal Araiz, all of Boerne, Texas, were named in a Complaint containing allegations of excessive markups pertaining to corporate bond transactions and related supervisory failures. Department of Enforcement v. Collard et al., No. 20120342425-01-01- (Mar. 11, 2016). Further. according to the Complaint, […]

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Odeon Capital Group LLC Stockbroker Barred Amid Allegations Of Conversion

Matthew Edward O’Callaghan, of New York, New York, a stockbroker with Odeon Capital Group LLC, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he had failed to cooperate in a FINRA investigation into allegations that O’Callaghan stole customer funds. Letter of Acceptance, Waiver […]

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Tullett Prebon Financial Services Broker Barred

January 05, 2016  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Edward J. Vierling, Sr. of New York, New York, a Stockbroker with Tullett Prebon Financial Services LLC, was barred from association with any Financial Industry Regulatory Authority (FINRA) member firm in any and all capacities after consenting to findings that he failed to cooperate with FINRA in their investigation into Vierlings’s alleged misconduct regarding bond […]

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Pariter Securities Fined for Failure to Supervise

Pariter Securities, LLC, headquartered in Guaynabo, Puerto Rico, was censured and fined $10,000 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm had failed to adequately establish, maintain and enforce a supervisory system and written supervisory procedures to prevent its registered representatives from exercising discretionary power in customer accounts prior to […]

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Global Arena Capital Expelled for Fleecing Customers

December 24, 2015  |   Posted by :   |   Bond Fraud, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Global Arena Capital Corp., headquartered in New York, New York, was fined $1,000,000 and expelled by the Financial Industry Regulatory Authority (FINRA) per the terms of a Default Decision by the Office of Hearing Officers which contained findings that the firm charged customers unfair and unreasonable prices and excessive markups, along with failing to establish, […]

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J.P. Turner & Company Fined for Overcharging Customers

J.P. Turner & Company, based in Atlanta, Goeorgia, was censured and fined $140,000 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm had not charged customers prices that were fair and reasonable in the purchase/sale of securities. Letter of Acceptance, Waiver and Consent, No. 20130358778 (Nov. 25, 2015). According to the […]

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Brickell Global Markets Fined for Supervisory Failures

Brickell Global Markets, also known as E.S. Financial Services, Inc., based in Miami, Florida, was censured and fined $275,000 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm had charged customers unreasonable fees, failed to deliver prospectuses, allowed unauthorized individuals to direct trading in accounts, among other violations. Letter of Acceptance, […]

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Buckman Buckman Reid Broker Charged for Fraud

Glen Robert King of Shrewsbury, NJ, a registered representative with Buckman, Buckman & Reid, Inc., was charged by the Department of Enforcement of Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that King made fraudulent misrepresentations to customers, engaged in excessive and unsuitable trading, and exercised discretion in accounts of customers without written authority. […]

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Arete Wealth Management Stockbroker Barred for Fraud

November 25, 2015  |   Posted by :   |   Bond Fraud, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Jonathan Greenfield of Woodland Hills, California, a stockbroker with Arete Wealth Management, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Order Accepting Offer of Settlement containing findings that Greenfield made fraudulent misrepresentations and omissions of material facts in connection with the sale of secured […]

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Santander Securities Fined For Supervisory Failures

Santander Securities, LLC, was censured, fined $2,000.000.00, and ordered to pay restitution of roughly $4,300,000.00 after consenting to Financial Industry Regulatory Authority (FINRA) findings that the firm had failed to have a reasonably designed supervisory system and set of procedures pertaining to sales of Puerto Rico Municipal Bonds to customers in Puerto Rico, and had […]

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Bedrok Securities Broker Barred for Fraud

Simon Xi, a registered representative with Bedrok Securities was permanently barred from associating with a Financial Industry Regulatory Authority member in any capacity after consenting to Financial Industry Regulatory Authority’s findings that he had recklessly or knowingly made false statements of material facts to customers purchasing or selling fixed-income securities. Letter of Acceptance, Waiver, and […]

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HFP Capital Markets, LLC Barred for Obstructing FINRA

August 17, 2015  |   Posted by :   |   Bond Fraud, Excessive Markups, Stockbroker Fraud News   |   0 Comments

John Joseph Vaughan, a former registered securities representative and compliance manager with HFP Capital Markets, LLC., was barred from association with any FINRA registered firm in all capacities after Levitt failed to cooperate with a FINRA investigation into allegations that HFP Capital Markets had charged customers unfair prices and failed to provide adequate supervision of […]

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Morgan Stanley Fined For Bond Fraud

Last August, Wall Street firm Morgan Stanley and one of its senior traders agreed to pay $6.1 million in fines and restitution to settle allegations that the investment bank overcharged brokerage customers on 2,800 purchases of $59 million of bonds. Dana de Windt, a Crucial Inside Source Regulators investigating the case had a crucial inside […]

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