Bond Fraud

Archive | Bond Fraud

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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Summit Brokerage Sued For Corporate Bond Fraud

Cindy Lucille Porto Chiellini of Lexington South Carolina a stockbroker formerly registered with Summit Brokerage Services, Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages based upon accusations that Chiellini made unsuitable investment recommendations pertaining to corporate debt securities which resulted in the customer […]

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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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FINRA Arbitration Lawyers Sue GMS Group For Bond Fraud

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

Travis Alan Knadle of Boca Raton Florida a stockbroker currently employed by The GMS Group LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $90,000.00 in damages supported by accusations that between January of 2015 and April of 2015, unsuitable investment recommendations had been made to the […]

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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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GMS Group Sued By Customer For Misrepresentation

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

Paul David Mante of Boca Raton, Florida, a stockbroker currently registered with The GMS Group, LLC, is the subject of a customer initiated investment related arbitration claim, in which the customer sought $1,000,000.00 in damages supported by accusations that between May of 2014 and December of 2017, misrepresentations had been made to the customer in […]

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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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JP Morgan Securities Stockbroker Fired

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

Mohamed Farrag Ahmed, from New York, New York, a stockbroker registered with J.P. Morgan Securities LLC, was terminated from employment on November 17, 2016, based upon allegations that he caused his assistant to make investment related misrepresentations concerning securities, and effected unauthorized transactions in a customers account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals […]

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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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Stifel Nicolaus Sued By Customer For Fraud

George Michael Williams, a stockbroker currently registered with Stifel, Nicolaus & Company, Inc., has been named in a customer initiated investment related arbitration claim on January 27, 2017, in which the customer requested $468,000.00 in damages based upon allegations that Williams violated Financial Industry Regulatory Authority (FINRA) rules as well as federal and state securities […]

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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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