Breach of Fiduciary Duty

Archive | Breach of Fiduciary Duty

FINRA Bars Cetera Broker In Investigation

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

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Ameriprise Financial Sued For Risky Investments

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

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Portfolio Advisors Alliance Sued By Investors For Churning

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

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FINRA Sanctions Ditto Trade CEO For Failure to Pay Arbitration Award

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

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Oppenheimer Sued By Investors For Misconduct

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

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SEC Bars Wells Fargo Advisors Broker For Fraud

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

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Investors Sue BMO Harris Over Handling Of Trust Accounts

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

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David Lerner Associates Sued By Investor For Fraud

Scott Mass of Syosset New York a stockbroker currently employed by David Lerner Associates Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $500,000.00 in damages based upon accusations that (1) contractual obligations were breached (2) the customer’s account was handled negligently (3) fiduciary duties had been […]

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Investors Sue Rhodes Securities For Breach Of Fiduciary Duty

Marilyn Ruth Zehntner of Forth Worth Texas a stockbroker currently registered with Rhodes Securities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $250,000.00 in damages founded on allegations that fiduciary duties owed to the customer had been breached; trades effected in the customer’s account were not […]

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FINRA Charges Morgan Stanley Brokers With Churning

Ami Kathryn Forte and Charles Joseph Lawrence of Palm Harbor Florida stockbrokers formerly employed by Morgan Stanley have been charged by Financial industry Regulatory Authority (FINRA) in a Complaint alleging that Forte and Lawrence (1) engaged in unsuitable trading of a disabled customer’s account (2) effected unauthorized trades and (3) churned the customer’s investment portfolio. […]

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Ameriprise Sued By Investor For Breach Of Fiduciary Duty

Scott Allen Edwards of Minneapolis Minnesota a stockbroker currently registered with Ameriprise Financial Services Inc. is the subject of a customer initiated investment related arbitration claim in which customers were awarded $13,652.29 in compensatory damages based on Edwards having been found liable on the customers’ claims that (1) Edwards negligently transacted in the customers’ accounts […]

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Merrill Lynch Blamed For Failure To Follow Instructions

Gary Kahn Stern of New York New York a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related written complaint on October 24, 2018 where the customer requested unspecified damages based upon accusations that between August 14, 2017 and October 24, 2018, the customer’s investment […]

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Investors Win Damages Against IBN Financial For Churning

Colin Anderson Archer of Liverpool New York a stockbroker currently registered with IBN Financial Services Inc. and representative of Meyers Associates L.P. has been ordered to pay a customer $17,940.28 in damages according to a FINRA arbitration in which Archer was found liable on the customer’s claims that Archer churned the customer’s account, breached his […]

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UBS Sued By Investors For Breach Of Fiduciary Duty

Brent Gordon Thompson of Franklin Tennessee a stockbroker currently employed by UBS Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $300,000.00 in damages founded on accusations that between 1995 and 2015: (1) the customer was subject to elder abuse (2) fiduciary duties owed to the customer […]

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Valmark Securities Sued By Investors For Breach Of Fiduciary Duty

November 30, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

William James Rossi III of Gainesville Florida a stockbroker currently employed by Valmark Securities Inc. and investment advisor representative of Koss Olinger Consulting is referenced in a customer initiated investment related civil action brought in the Eighth Judicial Circuit Court of Alachua Florida in which the customer sought $400,000.00 in damages supported by accusations of […]

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Lincoln Financial Advisors Sued By Investors For Fraud

James M. Honaker of Amherst New York a stockbroker formerly registered with Lincoln Financial Advisors Corporation is the subject of a customer initiated investment related arbitration claim in which the customer was awarded $11,316.00 in compensatory damages based upon Honaker having been found liable on the customer’s claims that (1) Honaker executed transactions in the […]

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National Planning Corporation Accused Of Negligence

Patricia Ann Lloyd of Phoenix Arizona a former National Planning Corporation stockbroker and investment adviser representative is referenced in a customer initiated investment related arbitration claim which was resolved for $96,000.00 in damages supported by accusations that (1) contractual obligations to the customer had been breached (2) the customer’s account was transacted upon in a […]

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Investors Hit Joseph Stone For Churning

Ross Adam Barish of Mineola New York a stockbroker currently registered with Joseph Stone Capital L.L.C. is referenced in a customer initiated investment related arbitration claim which was resolved for $14,900.00 supported by accusations that (1) Barish breached his contractual obligations to the customer (2) Barish executed over-the-counter equities transactions in the customer’s account that […]

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Investors Sue Ameriprise For Breach Of Fiduciary Duty

Kevin Scott Kellogg of San Diego California a stockbroker currently employed by Ameriprise Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $247,112.52 in damages founded on accusations that (1) fiduciary duties owed to the customer were not abided by (2) unauthorized transactions were placed in […]

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Investors Sue Stifel Nicolaus For Securities Fraud

John Basile Manikas of Chicago Illinois a stockbroker formerly employed by Stifel Nicolaus Company Incorporated is the subject of a customer initiated investment related arbitration claim which settled for $342,500.00 in damages founded on allegations that (1) the customer had been defrauded (2) contractual obligations had been breached (3) the customer’s account was handled negligently […]

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Oriental Financial Sued For Breach Of Contract

November 03, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News, Suitability   |   0 Comments

Jeffrey J. Lapetina Mafuz of San Juan Puerto Rico a stockbroker formerly registered with Oriental Financial Securities Corp. is the subject of a customer initiated investment related arbitration claim in which the customer sought $115,000.00 in damages based upon accusations that (1) omissions and misrepresentations had been made to the customer (2) contractual obligations and […]

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Investors Sue Hightower For Breach Of Fiduciary Duty

John Michael Shields of Palm Desert California a stockbroker currently employed by Hightower Securities LLC is referenced in a customer initiated investment related arbitration claim in which the customer requested $750,000.00 in damages supported by allegations that in reference to the customer’s investment advisory account and variable annuity investments: (1) the customer’s account was handled […]

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Investors Sue Woodstock Financial Group For Fraud

Stephen Mark Kiront of Garden City New York a stockbroker formerly employed by Woodstock Financial Group Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested damages estimated at $100,000.00 founded on accusations including (1) negligent unjust enrichment (2) breach of contract (3) suitability (4) breach of fiduciary duty […]

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Feltl Company Sued For Breach Of Fiduciary Duty

Timothy Luke Wynne of Minnetonka Minnesota a stockbroker currently employed by Feltl Company is referenced in a customer initiated investment related arbitration claim where the customer sought $441,306.00 in damages based upon accusations that between February of 2014 and June of 2016: (1) fiduciary duties owed to the customer had been breached (2) unauthorized stock […]

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Investor Sues Independent Financial Group For Fraud

William Aubrey Morrow of San Diego California a stockbroker formerly registered with Independent Financial Group LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $100,000.00 in damages based upon accusations that (1) unregistered tenant in common investments had been sold to the customer (2) the customer’s account transactions lacked […]

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Oppenheimer Sued by Investor For Fraud

Steven David Schultz of Palm Beach Gardens Florida a stockbroker currently employed by Oppenheimer Co. Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $750,000.00 in damages based upon allegations of (1) the failure to supervise securities transactions placed in the customer’s account (2) misrepresentation (3) breach of […]

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Geneos Sued By Investor For Breach Of Fiduciary Duty

Richard Mark Braverman of Lancaster Pennsylvania a stockbroker currently registered with Geneos Wealth Management Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought unspecified damages based upon accusations that (1) omissions had been made regarding the risks of investing in direct investments and real estate investments (2) fiduciary duties […]

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Oppenheimer Sued By Investors For Fraud

Michael Howard Rosenmayer of Los Angeles California a stockbroker currently registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $300,000.00 in damages supported by accusations including (1) omissions and misrepresentation (2) violation of California Securities Act (3) elder abuse (4) negligence (5) breach of […]

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Ameriprise Financial Stockbroker Sanctioned By Regulator

Vincent Leonard Petrangelo of Springfield Massachusetts a stockbroker employed by Ameriprise Financial Services Inc. has been ordered by the Massachusetts Securities Division to be placed on heightened supervision as a condition of registering with Ameriprise in the state of Massachusetts based upon Petrangelo’s history of transgressions including his disclosure of five customer complaints alleging (1) […]

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Investors Sue Joseph Stone Capital For Fraud

Sebastian Wyczawski of Holbrook New York a stockbroker currently employed by Joseph Stone Capital L.L.C. is referenced in a customer initiated investment related arbitration claim where the customer requested $100,000.00 in damages supported by accusations including (1) breach of fiduciary duty (2) breach of the duty of good faith and fair dealing (3) misrepresentation (4) […]

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Newbridge Sued By Investor For Breach Of Fiduciary Duty

William Sidney Friedman of Boca Raton Florida a stockbroker formerly registered with Newbridge Securities Corporation is referenced in a customer initiated investment related arbitration claim which settled for $10,000.00 in damages supported by accusations that Friedman (1) engaged in inappropriate equity trading in the customer’s account (2) breached his fiduciary duties to the customer (3) […]

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Rhodes Securities Accused Of Breach Of Fiduciary Duty

September 27, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

J. Gordon Rhodes of Fort Worth Texas a stockbroker currently registered with Rhodes Securities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $250,000.00 in damages founded on accusations including (1) failure to supervise the customer’s investment activities (2) breach of fiduciary duty (3) and unsuitable over-the-counter […]

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Santander Sued By Investor For Fraud

William K. Tress (also known as William K. Tress Garcia) of Dorchester Massachusetts a stockbroker formerly employed by Santander Securities is the subject of a customer initiated investment related arbitration claim where the customer requested $111,522.41 in damages based upon accusations including (1) gross negligence (2) breach of contract (3) failure to supervise (4) breach […]

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Investor Sues Centaurus Financial For Fraud

James Orth Davis of San Francisco California a stockbroker currently employed by Centaurus Financial, Inc. is referenced in a customer initiated investment related civil action in which the customer sought unspecified damages based upon accusations including (1) negligent misrepresentation (2) omissions of information (3) fraud (4) breach of fiduciary duty and (5) violation of California […]

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Investor Sues LPL Financial For Breach Of Fiduciary Duty

Kodi Robert Hermann of Tualatin Oregon a stockbroker formerly registered with LPL Financial LLC has been named in a customer initiated investment related arbitration claim in which the customer was awarded $9,064.03 in compensatory damages and $1,500.00 in attorneys’ fees founded on accusations of (1) breach of contract (2) negligence (3) violation of FINRA Rules […]

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DH Hill Sued By Investor For Breach Of Fiduciary Duty

Danny Harold Hill of Kingwood Texas the limited partner and chief compliance officer of D.H. Hill Securities LLP is the subject of a customer initiated investment related civil action where the customer sought $700,000.00 in damages founded on accusations that (1) the customer’s investment account was over-concentrated in real estate investment trust products (2) fiduciary […]

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Investors Sue Oppenheimer For Breach Of Fiduciary Duty

Jeffrey Sy Rubenstein of New York New York a stockbroker currently employed by Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages based upon accusations that between 2012 and 2017, contractual and fiduciary obligations to the customer had been breached and the […]

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Customer Sues Cetera Advisors For Breach Of Contract

Steven Franklin Brandt of Alexandria Virginia a stockbroker formerly registered with Cetera Advisors LLC is referenced in a customer initiated investment related arbitration claim in which the customer requested $50,000.00 in damages supported by allegations of (1) breach of contract (2) the customer having been placed in direct participation program or limited partnership interests that […]

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Investors Bring Arbitration Against Synovus For Breach Of Fiduciary Duty

July 31, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Jonathan Wayne Duke of Birmingham Alabama a stockbroker currently employed by Synovus Securities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $200,000.00 in damages based upon allegations that fiduciary duties had been breached with regard to the customer’s certificate of deposit investment. Financial Industry Regulatory Authority […]

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Customer Sues Raymond James For Securities Fraud

July 31, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

George Edward Mathis of The Villages, Florida, a stockbroker currently registered with Raymond James & Associates, Inc., is the subject of a customer initiated investment related arbitration claim in which the customer requested $65,000.00 in damages based upon allegations of fraud, misrepresentation, breach of contract, negligence, and breach of fiduciary duty pertaining to investment transactions […]

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Cambridge Investment Research Accused Of Fraud

Richard Allen Yantis of Cedar Falls Iowa a stockbroker formerly employed by Cambridge Investment Research Inc. is the subject of a customer initiated investment related written complaint on April 19, 2018 in which the customer sought $142,000.00 in damages supported by allegations that Yantis (1) employed deceptive and manipulative tactics to induce the customer’s alternative […]

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Investors Sue Raymond James For Securities Fraud

Joseph Eldon Johnson of North Riverside Illinois a stockbroker currently registered with Raymond James Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $50,000.00 in damages supported by accusations of sales practice violations relating to exchange traded funds including (1) negligence (2) breach of fiduciary duty (3) […]

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American Portfolios Sued For Breach Of Fiduciary Duty

July 16, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Jimmy William Kuhn of Smithtown New York a stockbroker currently registered with American Portfolios Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $70,000.00 in damages supported by allegations that (1) unsuitable equity investment recommendations had been made to the customer (2) activities in the customer’s portfolio […]

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Oppenheimer Customer Claims Breach Of Fiduciary Duty

June 30, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Richard Mark Strauss of Boca Raton Florida a stockbroker formerly registered with Oppenheimer & Co. Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $500,000.00 in damages founded on allegations that (1) unsuitable recommendations had been made to the customer (2) the customer’s account was handled in […]

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Raymond James Sued For Stockbroker Misconduct

John Charles Wyshak of Los Angeles California a stockbroker currently employed by Raymond James Associates Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $1,023,460.00 in damages based upon accusations of (1) fraudulent concealment (2) breach of contract (3) conversion (4) omission of material facts (5) churning (6) breach […]

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FINRA’s Wrath Against Khan

June 25, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Atiq Urrehman Khan of Covina California a stockbroker formerly registered with Transamerica Financial Advisors Inc. has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he failed to make an appearance for FINRA personnel during an investigation into Khan’s apparent improper solicitation of securities. Department of Enforcement v. Atiq U. Khan […]

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Illinois Mogul Accused Of Breach Of Fiduciary Duty

June 21, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Steven Harman Mogul of Northbrook Illinois a stockbroker currently registered with UBS Financial Services Inc. is the subject of a customer initiated investment related written complaint on March 30, 2018 where the customer sought $36,923.25 in damages founded on accusations that between March 21, 2014 and February 27, 2018, Mogul (1) breached his fiduciary obligation […]

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National Planning Corp Sued For Breach Of Fiduciary Duty

Dexter Leroy Thomas of Dallas Texas a stockbroker formerly employed by National Planning Corporation is referenced in a customer initiated investment related arbitration claim where the customer sought $94,352.90 in damages founded on accusations including (1) breach of fiduciary (2) negligence (3) suitability (4) violation of Texas Securities Act and (5) violation of FINRA rules […]

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Customer Sues Portfolio Advisors For Fraud

May 17, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Vincent Thomas Hoban III of Portfolio Advisors Alliance LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $85,000.00 in damages supported by accusations including (1) breach of contract (2) fraud (3) violation of federal securities law (3) breach of fiduciary duty and (5) suitability in reference to the customer’s […]

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Customer Sues Ameriprise For Breach Of Fiduciary Duty

Richard Scott Ewing of Richmond Virginia a stockbroker currently registered with Ameriprise Financial Services Inc. is named in a customer initiated investment related arbitration claim which settled for $52,500.00 in damages based upon accusations including (1) breach of fiduciary duty (2) excessive fees (3) misrepresentation (4) suitability and (5) violation of state and federal securities […]

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Customer Sues McNally Financial For Fraud

April 27, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Marshall Royal Cassedy Jr. of Tallahassee Florida a stockbroker currently registered with McNally Financial Services Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $845,000.00 in damages founded on allegations of (1) breach of fiduciary duty (2) misrepresentation (3) negligence (4) breach of contract and (5) fraud in […]

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Customer Accuses VSR Financial Services Of Negligence

April 27, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Robert Edward Wamhoff of Saint Charles Missouri a stockbroker formerly registered with VSR Financial Services Inc. is the subject of a customer initiated investment related written complaint on October 12, 2017 where the customer sought $55,000.00 in damages supported by accusations of breach of fiduciary duty and negligence relating to real estate security transactions executed […]

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Customer Sues Euro Pacific Capital For Fraud

April 08, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Hemant Kathuria of Manhattan Beach California is a stockbroker and securities principal currently registered with Euro Pacific Capital Inc. who is the subject of a customer initiated investment related arbitration claim in which the customer sought $791,607.53 in damages founded on allegations including (1) breach of contract (2) violation of Financial Industry Regulatory Authority (FINRA) […]

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Customer Sues Stifel Nicolaus For Negligence

April 05, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Audie Gean Rea of Ridgeland Missouri is a stockbroker currently registered with Stifel Nicolaus and Company who is the subject of a customer initiated investment related arbitration claim in which the customer was awarded $90,000.00 in damages founded on Rea having been found liable for breaching his fiduciary duties, effecting unsuitable transactions, churning the customer’s […]

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Raymond James Sued By Customer For Negligence

March 22, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Eric Anthony Dupre of San Antonio Texas is a stockbroker currently registered with Raymond James and Associates Inc. who is the subject of a customer initiated investment related arbitration claim which settled for $90,000.00 in damages supported by allegations of (1) breach of fiduciary duty (2) negligence and (3) suitability pertaining to over-the-counter equities transactions […]

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Oppenheimer Sued By Customer For Failure To Supervise

February 20, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Churning, Stockbroker Fraud News   |   0 Comments

Leslie Brian Flaum of Melville New York is a stockbroker formerly registered with Oppenheimer who is the subject of a customer initiated investment related arbitration claim in which the customer sought over one million one-hundred eight thousand dollars in damages based upon accusations that Flaum failed to supervise a registered representative who breached his fiduciary […]

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Customer Sues Ameritas For Fraud

January 26, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Michael James Blake, of Ameritas Investment Corp., a stockbroker formerly employed with Ameritas Investment Corp., is the subject of a customer initiated investment related arbitration claim, in which the customer sought $50,000.00 in damages supported by accusations of breach of contract, breach of fiduciary duty, suitability, fraudulent concealment, misrepresentation, and violation of the Securities Act […]

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Customer Sues National Securities Corp For Suitability

January 10, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Kevin A. Bostory of Edison, New Jersey, a stockbroker formerly registered with National Securities Corp., is the subject of a customer initiated investment related arbitration claim, where the customer requested $36,509.00 in damages based upon accusations that Bostory breached his fiduciary duties to the customer and effected unsuitable equity transactions in the customer’s account. Financial […]

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Raymond James Sued For Breach Of Fiduciary Duty

January 10, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Alan Robert Rosenberg of Garden City, New York, a stockbroker currently registered with Raymond James & Associates, Inc., is the subject of a customer initiated investment related arbitration claim, where the customer sought $150,000.00 in damages founded on accusations of suitability, negligence, and breach of fiduciary duty with respect to sector-specific stock transactions effected in the […]

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Kovack Securities Sued By Customer For Fraud

January 10, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Michael Corbett Milne of Ocala, Florida, a stockbroker formerly registered with Kovack Securities, is the subject of a customer initiated investment related arbitration claim, which settled for $13,000.00 in damages supported by accusations that Milne breached his fiduciary duties, negligently handled the customer’s investment account, breached his contractual duties, made misrepresentations, effected unauthorized options and […]

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Customer Sues DH Hill For Breach Of Contract

January 09, 2018  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Charles Thomas Stevens of Saint Augustine, Florida, a stockbroker currently associated with D.H. Hill Securities, LLLP, is the subject of a customer initiated investment related arbitration claim, where the customer alleged breach of contract, negligence, breach of fiduciary duty, and unsuitable investment recommendations of business development companies, real estate investment trusts and a variable annuity. […]

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Customer Sues Raymond James For Securities Fraud

November 01, 2017  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration   |   0 Comments

Scott Allen Sibley of Fort Lauderdale, Florida, a stockbroker formerly employed with Raymond James & Associates, is identified in a customer initiated investment related arbitration claim, wherein the customer sought $250,000.00 in damages based upon allegations of breach of contract, breach of fiduciary duty, negligence, fraud, and the violation of Florida’ Securities and Investor Protection Act […]

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Capital Investment Group Sued For Fraud

September 22, 2017  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Kelly Gene Richards, of Phoenix, Arizona, a stockbroker formerly registered with Capital Investment Group, Inc., has been named in a customer initiated investment related arbitration claim on June 27, 2016, in which customers collectively requested $650,000.00 in damages based upon allegations that Richards breached his fiduciary duties to the customers, negligently managed the customers’ investment […]

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National Securities Corp Sued For Misrepresentation

September 14, 2017  |   Posted by :   |   Breach of Fiduciary Duty   |   0 Comments

Tuan Phan, of New York, New York, a stockbroker registered with National Securities Corp, is the subject of a customer initiated investment related arbitration claim, which settled on June 30, 2016, for $19,000.00 in damages supported by allegations of negligence in the handling of the customer’s investment account as well as misrepresentation and the breach […]

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Raymond James Sued For Breach of Fiduciary Duty

August 31, 2017  |   Posted by :   |   Breach of Fiduciary Duty   |   0 Comments

Jerry Wayne Devins, of Louisville, Kentucky, a stockbroker formerly registered with Raymond James Financial Services Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer was awarded $500,000.00 in damages on March 30, 2017, based upon allegations that Devins breached his fiduciary duties to the customer. Financial Industry Regulatory […]

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Customer Sues Newbridge Securities For Suitability

July 29, 2017  |   Posted by :   |   Breach of Fiduciary Duty   |   0 Comments

Glen Derek Delaney, of New York, New York, a stockbroker formerly registered with Newbridge Securities Corporation, is the subject of a customer initiated investment related written complaint on March 6, 2017, in which the customer requested $46,634.00 in damages based upon allegations that Delaney breached his fiduciary duties, over-concentrated the customer’s assets in stock, effected […]

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Spartan Capital Arbitration Claim For Unauthorized Trading

July 28, 2017  |   Posted by :   |   Breach of Fiduciary Duty   |   0 Comments

Jason M. Santini, of Garden City, New York, a stockbroker formerly registered with Spartan Capital Securities, LLC, is the subject of a customer initiated investment related arbitration claim on November 21, 2016, where the customer sought $27,376.99 in damages based upon allegations that Santini breached his fiduciary duties, negligently managed the customer’s investment portfolio, utilized […]

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Arbitration Claim Filed Against America Northcoast Securities

Richard Anthony Barone, of Cleveland, Ohio, a stockbroker currently registered with America Northcoast Securities, Inc., has been named in a customer initiated investment related arbitration claim on May 17, 2017, in which the customer requested $250,000.00 in damages based upon allegations against Barone including failure to supervise, unauthorized trading, unsuitability, breach of fiduciary duty and […]

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Customer Sues Obsidian Financial Group for Supervisory Failures

Philip A. Dina, of Woodbury, New York, a stockbroker formerly registered with Obsidian Financial Group, LLC, has been named in a customer initiated investment related arbitration claim on April 24, 2017, where the customer requested $50,000.00 in damages based upon allegations that he failed to supervise one of the firm’s registered representatives who placed faulty […]

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Girard Securities Customer Alleges Fraud

Cary Edward Scheer, of Southlake, Texas, a stockbroker formerly registered with Girard Securities, Inc., has been named in a customer initiated investment related arbitration claim on April 24, 2017, in which the customer requested $150,000.00 in damages based upon allegations that Scheer breached his contractual and fiduciary duties to the customer, made investment misrepresentations and […]

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Ameriprise Financial Services Broker Sanctioned

Geraldine Gordon, of Lexington, Kentucky, a stockbroker currently registered with Ameriprise Financial Services, has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she made unsuitable investment recommendations to a firm customer. Letter of Acceptance, Waiver and Consent, No. 2016049353501 […]

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Ameritas Sued By Customer For Misrepresentation

Robert Michael Gianchiglia, of Worcester, Massachusetts, a stockbroker formerly registered with Ameritas Investment Corp., has been named in a customer initiated investment related arbitration claim on March 28, 2017, wherein the customer requested $225,000.00 in damages based upon allegations that Gianchiglia effected unauthorized trades in the customer’s account, made misrepresentations to the customer, breached his […]

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Raymond James Sued In Arbitration For Fraud

Gabriel Yanez Jr., of Newport Beach, California, a stockbroker formerly registered with Raymond James And Associates, Inc., has been named in a customer initiated investment related arbitration claim on April 12, 2017, in which the customer requested $700,000.00 in damages based upon allegations that Yanez engaged in deceptive trade practices, negligently handled the customer’s investment […]

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IFS Securities Named In Civil Action

June 08, 2017  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Robert Henderson Jr., of Miami Lakes, Florida, a stockbroker currently registered with IFS Securities, has been named in a customer initiated investment related civil action on April 15, 2017, based upon allegations that Henderson breached his fiduciary and trust obligations to the customer, and additionally failed to fulfill his duties concerning the accounting of a […]

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The ON Equity Sales Complaint Alleges Fraud

June 08, 2017  |   Posted by :   |   Annuity Schemes, Breach of Fiduciary Duty   |   0 Comments

Ronald Clagget Knowles, of Lake Charles, Louisiana, a stockbroker formerly registered with The O.N. Equity Sales Company, has been named in a customer initiated investment related written complaint on April 13, 2017, in which the customer requested $17,000.00 in damages based upon allegations that Knowles made misrepresentations to the customer concerning annuity products, effected transactions […]

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Customer Brings Arbitratoin Against Raymond James For Fraud

Peter Chris Marketos, of Paramus, New Jersey, a stockbroker formerly registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related written complaint on March 2, 2017, in which the customer requested more than $5,000.00 in damages based upon allegations that Marketos, from October of 2014 to February of 2016, […]

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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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Customers Bring More Claims Against Aegis Capital Corp

Robert Anthony Guidicipietro, of Holmdel, New Jersey, a stockbroker currently registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim on March 1, 2017, where the customer requested $250,000.00 in damages based upon allegations that Guidicipietro breached his fiduciary duties, made unsuitable investment recommendations and misrepresentations to the customers, […]

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Merrimac Corporate Securities Named In FiNRA Arbitration

April 20, 2017  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration   |   0 Comments

Ronald Arthur Christopher Jr., of Altamonte Springs, Florida, a stockbroker formerly registered with Merrimac Corporate Securities, Inc., has been named in a customer initiated investment related arbitration claim on October 13, 2016, in which the customer requested $400,000.00 in damages based upon allegations that Christopher breached his fiduciary obligations to the customer, negligently handled the […]

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Worden Capital Management Sued In Arbitration For Negligence

March 16, 2017  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Joseph Francis Valdini, of Garden City, New York, a stockbroker formerly registered with Worden Capital Management LLC, has been named in a customer initiated investment related arbitration claim, which settled on March 21, 2016, for $79,000.00 in damages based upon allegations that Valdini breached his fiduciary and contractual duties to the customer, violated New Jersey […]

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Credit Suisse Securities Sued for Churning

Albert Dishner, of New York, New York, a stockbroker formerly registered with Credit Suisse Securities (USA) LLC, has been named in a customer initiated investment related arbitration claim, which settled on December 30, 2016, for $205,000.00 in damages based upon allegations that include churning, excessive trading, violation of state and federal securities laws, violation of […]

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Alexander Capital Stockbroker Sued for Unauthorized Trading

Andrew Patrick Murino, a stockbroker currently registered with Alexander Capital, L.P., has been named in a customer initiated investment related arbitration claim on December 1, 2016, in which the customer requested $38,084.00 in damages based upon allegations that Murino effected unauthorized and unsuitable over-the-counter equity trades in the customer’s account, and breached his fiduciary duty […]

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Centaurus Financial Named In Customer Arbitration Alleging Fraud

Cheryl Lynn Kitashima, of Bellevue, Washington, a stockbroker currently registered with Centaurus Financial Inc., has been named in a customer initiated investment related arbitration action from July 20, 2015, in which the customer requested $22,500.00 in damages based upon allegations that Kitashima defrauded the customer, and that Centaurus Financial, Inc. failed to supervise Kitashima’s activities. […]

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Stifel Nicolaus Named In FINRA Securities Arbitration Alleging Unsuitability

Charles John Obryant III, of Raleigh, North Carolina, a stockbroker formerly registered with Stifel, Nicolaus & Company, has been named in a customer initiated investment related arbitration claim on October 2, 2015, which settled for $632,298.00 in damages based upon allegations that Obryant negligently handled the customer’s investment account, breached his fiduciary duty, and effected […]

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Oppenheimer Named In Customer Arbitration Claim

Gabriel Block, of Red Bank, New Jersey, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been named in a customer initiated investment related arbitration claim on July 6, 2015, which settled for $90,000.00 in damages based upon allegations that Block breached his fiduciary and contractual duties to the customer, negligently handled the customer’s […]

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Wells Fargo Advisors Named In Customer Unsuitability Claim

Thomas G. Gresham, of Overland Park, Kansas, a stockbroker formerly associated with Wells Fargo Advisors, LLC, has been subject to five customer initiated arbitration claims on July 10, 2015, which were settled for a total of $655,000.00 in damages based upon allegations against Gresham including unsuitable investment recommendations, breach of fiduciary duties, unjust enrichment, and […]

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World Equity Group Named In Customer Negligence Claim

Barry Link, of Fort Meyers, Florida, a stockbroker currently registered with World Equity Group, Inc., has been subject to a customer initiated investment related arbitration claim on February 10, 2016, in which the customer requested $400,000.00 in damages based upon allegations that Link breached his fiduciary duty to the customer and committed negligence in handling […]

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Legend Securities Stockbroker Named in Customer Complaints

Mario Gogliormella, of New York, New York, a stockbroker with Legend Securities, Inc., has been named in a pending customer initiated investment related arbitration claim from January 13, 2016, in which the customer requested $73,454.00 in damages based upon allegation that Gogliormella breached his fiduciary obligations to the customer, and effected unsuitable investment transactions. FINRA […]

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National Securities Sued by Customer for Misrepresentation

Nathaniel R. Clay, of New York, New York, a stockbroker formerly with National Securities Corporation, is the subject of a pending customer dispute in which a customer seeks $513,218.40 in damages based upon the allegation that  Clay committed negligence, breached his fiduciary obligations, and made misrepresentations to the customer. FINRA BrokerCheck reveals that Clay has been […]

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Meyers Associates Stockbroker Mastroianni Named in Suitability Claim

September 16, 2016  |   Posted by :   |   Breach of Fiduciary Duty, Stockbroker Fraud News   |   0 Comments

Anthony Mastroianni, Jr., of New York, New York, a stockbroker with Meyers Associates, L.P., was named in a pending customer dispute, in which the customer has requested $2,000,000.00 in damages amid allegations against Mastroianni of breach of fiduciary duty, unsuitable investment recommendations, breach of contract, and churning of the customer’s account. Mastroianni is also subject […]

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Army Murder Suspect Is A Former FINRA Stockbroker Ripped Off The Elderly

Robert Bales, the US Army staff sergeant accused of massacring 16 Afghan civilians, was a former stockbroker, who enlisted in the U.S. Army to apparently avoid paying an elderly Ohio couple of their life savings in a stock fraud. According to FINRA records, from 1996 through 2000, Bales was associated with at least seven brokerage […]

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