Stockbroker Fraud News

Archive | Stockbroker Fraud News

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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Wells Fargo Advisors Sued for Unauthorized Trading

March 21, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Mark Joseph Lippman, of New York, New York, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related complaint, which settled on September 20, 2016, for $7,500.00 in damages based upon allegations that Lippman effected unauthorized transactions in the customer’s fee based account. Financial Industry Regulatory […]

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Morgan Stanley Sued by Customer For Misrepresentation

Kevin C. Yang, of Pasadena, California, a stockbroker currently registered with Morgan Stanley Inc., has been named in a customer initiated investment related arbitration claim, which settled on December 18, 2016, for $57,500.00 in damages based upon allegations that Yang made misrepresentations to the customer and effected unsuitable structured transactions in the customer’s account. Financial […]

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Oppenheimer Named In FINRA Arbitration

March 21, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Joel Eric Breiter, of Westhampton, New York, a stockbroker currently registered with Oppenheimer & Company, Inc., has been named in a customer initiated investment related written complaint on January 27, 2017, in which the customer requested $430,000.00 in damages based upon allegations that Breiter effected unsuitable over-the-counter equity transactions in the customer’s account. Financial Industry […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

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

Richard Alan Kern, of Beavercreek, Ohio, a stockbroker formerly registered with Morgan Stanley, 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 he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 20160502058-01 (Mar. […]

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Wood Company Expelled For Cheating Customers

Wood (Arthur W.) Company, Inc., headquartered in Boston, Massachusetts, has been fined $10,000.00 and statutory disqualified by Financial Industry Regulatory Authority (FINRA) pursuant to a National Adjudicatory Council Decision containing findings that the firm, inter alia, charged customers commissions which were excessive, and failed to supervise commissions charged by registered representatives. In the Matter of […]

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Waddell And Reed Principal Barred In Investigation

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

Paul Douglas Stanley, of Edmond, Oklahoma, a stockbroker and principal formerly registered with Waddell & Reed, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed an investigation into allegations that he violated his firm’s policies concerning supervision, compensation and […]

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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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Feltl And Company Failure To Supervise

Feltl & Company, a broker-dealer headquartered in Minneapolis, Minnesota, has been censured and fined $150,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm, inter alia, failed to supervise a registered representative’s trading activities. Letter of Acceptance, Waiver and Consent, No. 2010024882202 (Feb. 28, 2017). According to the AWC, between […]

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Independent Financial Group Named In Customer Arbitration

Lyle J Boudreaux, of Houston, Texas, a stockbroker currently registered with Independent Financial Group, LLC, has been named in a customer initiated investment related written complaint on January 27, 2017, in which the customer requested $120,000.00 in damages based upon allegations that Boudreaux was liable for losses sustained by the customer in reference to exchange […]

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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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Woodstock Financial Stockbroker Under Investigation

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

Joseph Louis Derrico, of Staten Island, New York, a stockbroker currently registered with Woodstock Financial Group, Inc., has been named in a regulatory investigation by the State of Montana Securities Division on February 1, 2017, based upon a customer’s complaint referencing Derrico’s misconduct in connection with over-the-counter equity transactions effected in the customer’s account. Financial […]

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Morgan Stanley Named In FINRA Arbitration

William Mark Heiden, of Newport Beach, California, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on January 24, 2017, in which the customer requested $950,718.24 in damages based upon allegations that Heiden, from 2012 to 2016, effected equity transactions in the customer’s account which were […]

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Royal Alliance Associates Sued for Unsuitable Recommendations

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

Phillip Leung Wong, of Wayland, Massachusetts, a stockbroker currently registered with Royal Alliance Associates, Inc., has been named in a customer initiated investment related written complaint on January 26, 2017, based upon allegations that Wong made unsuitable investment recommendations to the customer concerning exchange traded fund and stock transactions, which caused the customer to sustain […]

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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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Mutual Service Corporation Stockbroker Caught Selling Away

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

Akio Lawrence Bley, of Bala Cynwyd, Pennsylvania, a stockbroker formerly registered with Mutual Service Corporation, 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 Bley sold away from his firm. Letter of Acceptance, Waiver and Consent, No. 2014040860301 (Jan. […]

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Concorde Investment Services Stockbroker Under Investigation

March 21, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Robert Russel Tweed, of San Marino, California, a stockbroker formerly registered with Concorde Investment Services, LLC, has been named in an investigation by Financial Industry Regulatory Authority (FINRA) pursuant to the receipt of a Wells Notice regarding Tweed’s conduct. FINRA Public Disclosure reveals that Tweed has been identified in twelve customer initiated investment related disputes […]

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Planmember Securities Named In Civil Action

March 21, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Christopher Michael Connolly, of Houston, Texas, a registered representative formerly associated with Planmember Securities Corporation, has been named in a customer initiated investment related civil action on February 6, 2017, in which the customer requested $250,000.00 in damages based upon allegations that Connolly failed to inform the customer about costs pertaining to the customer’s life […]

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Wells Fargo Advisors Stockbroker Barred By SEC

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

Ane S. Plate, of Orlando, Florida, was barred by the Securities and Exchange (SEC) Commission from working as an investment advisor or broker, or associating with firms selling securities or providing investment advice based upon an Order Instituting Administrative Proceedings containing findings that Plate pled guilty to embezzlement, theft, or misapplication in violation of 18 […]

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MetLife Securities Representative Sanctioned For Annuity Twisting

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

Armand Joseph Fisher, of Glastonbury, Connecticut, a registered representative formerly associated with MetLife Securities Inc., has been censured and fined $5,000.00 by The State of Connecticut Insurance Department based upon allegations that he effected the sales of annuity products for two customers that were not in the customers’ best interests. Case No. FC 15-54 (Sept. […]

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National Securities Corp Sued For Fraud

Kevin Keane, of Chicago, Illinois, a stockbroker currently registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim, which settled on June 26, 2014, for $11,800.00 in damages based upon allegations that Keane negligently handled the customer’s investment account, breached his fiduciary duties, made misrepresentations to the customer, effected […]

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Citigroup Global Markets Sued for Unauthorized Trading

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

Timothy Trevor Kenska, of Encinitas, California, a stockbroker currently registered with Citigroup Global Markets Inc., has been named in a customer initiated investment related written complaint on February 9, 2017, based upon allegations that he made unauthorized purchases of municipal bonds investments, effected unsuitable transactions in the customer’s account, and did not abide by the […]

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EKN Financial Sued by Customer For Churning

Ahmad Wares, a stockbroker formerly registered with EKN Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on January 23, 2016, in which the customer requested $288,340.00 in damages based upon allegations that Wares breached his fiduciary duties, effected over-the-counter equity trades in the customer’s account on an excessive basis, […]

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Raymond James Sued by Customer For Misconduct

Todd Douglas Ryman, of Atlanta, Georgia, a stockbroker formerly registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related written complaint on February 15, 2017, in which the customer requested $300,000.00 in damages based upon allegations that Ryman committed securities related misconduct in reference to the customer’s transactions regarding […]

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KC Ward Financial Named In Customer Fraud Action

March 21, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

William Nicholas Athas, of Ronkonkoma, New York, a stockbroker formerly registered with K.C. Ward Financial, has been named in a customer initiated investment related arbitration claim on February 16, 2017, in which the customer requested $290,000.00 in damages based upon allegations including: the use of fraudulent or manipulative contrivances or devices; breach of duty of […]

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UBS Financial Services Sued for Unsuitable Investment Advice

March 21, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Vincente Castillo, 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 January 6, 2017, in which the customer requested $325,000.00 in damages based upon allegations that Castillo overconcentrated the customer’s […]

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UBS Financial Services Stockbroker Terminated For Misconduct

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

Phil Fiore Jr., of Stamford, Connecticut, a stockbroker registered with UBS Financial Services Inc., has been terminated from employment on November 30, 2016, based upon allegations that he failed to abide by his firm’s procedures, including: the operation of a golf tournament without approval; communications with the public without the firm’s authorization; and Fiore’s lack […]

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MetLife Securities Sued by Customer For Misrepresentation

Wayne David Kandas, of Tempe, Arizona, a stockbroker formerly registered with MetLife Securities, Inc., has been named in a customer initiated investment related written complaint on May 26, 2016, based upon allegations that Kandas made misrepresentations to the customer regarding variable annuity products. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Kandas has been […]

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Stifel Nicolaus Stockbroker Sanctioned For Unauthorized Trading

March 16, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Robert W. Berry, of Fairlawn, Ohio, a stockbroker currently registered with Stifel, Nicolaus & Company, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that effected unauthorized trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015046243901 (Mar. […]

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Stifel Nicolaus Stockbroker Suspended For Unauthorized Trading

March 16, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Darrach Michael Bourke, of Larkspur, California, a stockbroker formerly registered with Stifel, Nicolaus & Company, 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 exercised discretion in the accounts of firm customers without authorization from his firm […]

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Edward Jones Stockbroker Barred In Investigation

March 16, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Michael Jean-Paul Mason, of Millington, Tennessee, a stockbroker formerly registered with Edward Jones, 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’ Default Decision containing findings that he falsified customer account documentation and failed to accurately inform his firm […]

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National Securities Stockbroker Barred For Unauthorized Trading

March 16, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Glenn McDowell, of New York, New York, a stockbroker formerly associated with National Securities Corporation, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon a FINRA Office of Hearing Officers’ Default Decision containing findings that McDowell effected unauthorized trades in a customer’s account. Department of […]

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Allstate Financial Services Stockbroker Suspended

March 16, 2017  |   Posted by :   |   Annuity Schemes, Forgery, Stockbroker Fraud News   |   0 Comments

Frederick Martin Quinn Jr., of Toledo, Ohio, a stockbroker formerly registered with Allstate Financial Services, LLC, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Quinn, inter alia, signed the names of customers on annuity exchange documentation without the customers’ […]

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Charles Vista Sued for Failure To Supervise

Michael Robert Molinaro, of Long Beach, New York, a chief compliance officer of Charles Vista, LLC, has been named in a customer initiated investment related arbitration claim on August 26, 2015, in which the customer requested $130,628.37 in damages based upon allegations that Molinaro failed to supervise the activities of a registered representative concerning over-the-counter […]

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Morgan Stanley Stockbroker Fired For Unauthorized Trading

March 16, 2017  |   Posted by :   |   Stockbroker Fraud News, Structured Notes   |   0 Comments

Jeffrey Neil Cadan, of New York, New York, a stockbroker registered with Morgan Stanley, was terminated from employment on December 21, 2016, based upon allegations of Cadan’s misconduct pertaining to his implemented investment strategy involving government debt products, as well as his exercise of discretion in customer account(s). Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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CoreCap Investments Stockbroker Discharged

March 16, 2017  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Ernest Julius Romer III, of Sterling Heights, Michigan, a stockbroker registered with CoreCap Investments, Inc., has been terminated from employment on January 20, 2017, based upon allegations that he violated the firm’s policies relating to his undisclosed outside business activities and transactions in customer accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on […]

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Hilltop Securities Sued by Customers For Unsuitability

Steven Howard Bright, of Dallas, Texas, a stockbroker formerly registered with Wunderlich Securities, Inc., has been named in a customer initiated investment related written complaint on September 30, 2016, in which the customer requested $17,000.00 in damages based upon allegations that Bright effected exchange traded note transactions in the customer’s account on an excessive and […]

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Cambridge Investment Research Sued By Customers

Brad C. Lawing, of Springfield, Missouri, a stockbroker currently registered with Cambridge Investment Research, Inc., has been named in a customer initiated investment related written complaint on January 19, 2017, in which the customer requested $8,500.00 in damages based upon allegations that Lawing failed to apprise the customer concerning the fees associating with the switching […]

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PHX Financial Sued by Customers for Fraud

Levi Rachmanov, of New York, New York, a stockbroker currently registered with PHX Financial, Inc., has been named in a customer initiated investment related arbitration claim, which settled on December 30, 2015, for $90,000.00 in damages based upon allegations that Rachmanov violated Texas Securities Act, breached his fiduciary and contractual duties to the customer, effected […]

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Morgan Stanley Sued In Arbitration For Unsuitability

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

Steven Rocco Colli, of Morristown, New Jersey, a stockbroker currently registered with Morgan Stanley, has been named in a customer initiated investment related written complaint on February 16, 2017, based upon allegations that Colli, from 2014 to 2017, utilized the customer’s margin without authorization to effect options and equity transactions. Financial Industry Regulatory Authority (FINRA) […]

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WFG Investments Sued In Arbitration For Misrepresentation

Damian Marlon Bell, of Daphne, Alabama, a stockbroker currently registered with WFG Investments, Inc., has been named in a customer initiated investment related arbitration claim on January 19, 2017, in which the customer requested $1,000,000.00 in damages based upon allegations that Bell made misrepresentations and omissions to customers concerning private placements, and failed to adequately […]

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Edward Jones Sued In Arbitration for Misrepresentation

March 16, 2017  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

James D. Zahakos, Staten Island, New York, a stockbroker formerly registered with Edward Jones, has been named in a customer initiated investment related written complaint on January 19, 2017, in which the customer requested $5,000.00 in damages based upon allegations that Zahakos made misrepresentations to the customer concerning the purchase of a single premium immediate […]

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Oppenheimer Sued By Customer For Churning

Matthew Hugh Hurley, of San Diego, California, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been named in a customer initiated investment related arbitration claim, which settled on November 10, 2016, for $15,000.00 in damages based upon allegations that Hurley failed to execute upon the customer’s stop loss order, and charged the customer […]

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Edward Jones Stockbroker Sanctioned For Selling Away

March 16, 2017  |   Posted by :   |   Promissory Notes, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Jason Edward Seurer, of Milbank, South Dakota, a stockbroker formerly registered with Edward Jones, has been penalized $7,500.00 and suspended for eighteen months by The State of South Dakota Division of Securities based upon Seurer consenting to findings that he sold away from his firm via his promissory note investment transactions. (Jan. 19, 2017). Previously, […]

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Key Investment Services Sued by Customer For Unsuitability

Jeanette S. Stofleth, of Seattle, Washington, a stockbroker formerly registered with Key Investment Services, has been named in a customer initiated investment related written complaint on January 19, 2017, in which the customer requested $5,000.00 in damages based upon allegations that the Stofleth made poor investment recommendations regarding the customer’s $450,000.00 investment in single premium […]

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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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Uvest Financial Services Group Sued by Customers For Misrepresentation

March 16, 2017  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Gregory Wade Gobble, a stockbroker formerly registered with Uvest Financial Services Group, Inc., has been named in a customer initiated investment related written complaint on August 25, 2015, based upon allegations that Gobble made misrepresentations to the customer concerning the Behringer Harvard Real Estate Investment Trust. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals […]

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Edward Jones Sued In Arbitration for Misrepresentation

March 16, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Charles Harvey Kuhtz III, of Hartland, Wisconsin, a financial advisor for Edward Jones, has been named in a customer initiated investment related written complaint on January 18, 2017, in which the customer requested $5,000.00 in damages based upon allegations that Kuhtz made misrepresentations to the customer regarding a Hartford Protector Variable Universal Life policy. Kuhtz’s […]

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Sica Wealth Management Sued For Unsuitability

Jeffrey Carmen Sica, of Parsippany, New Jersey, a registered representative associated with Sica Wealth Management, has been named in a customer initiated investment related arbitration claim, which settled on April 27, 2015, for $211,250.00 in damages based upon allegations that Sica effected unsuitable stock and exchange traded fund (ETF) transactions in the customer’s account. Financial […]

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Stifel Nicolaus Named In FINRA Arbitration

Joseph Peter Canciglia, of Hackensack, New Jersey, a stockbroker formerly registered with Stifel, Nicolaus & Company, Inc., has been named in a customer initiated investment related arbitration claim on April 20, 2016, in which the customer requested $20,000.00 in damages based upon allegations that Canciglia advised a customer to invest $20,000.00 into a unit investment […]

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Wells Fargo Advisors Sued by Customer For Unsuitability

Alan Neal Rose, of Melville, New York, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related arbitration claim on January 16, 2017, in which the customer requested $100,000.00 in damages based upon allegations that from 2013 to 2016, Rose over-concentrated the customers’ portfolio in investments […]

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UBS Financial Services Sued for Misrepresentation

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

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Spartan Capital Securities Sued for Misrepresentation

Joseph Kelly, of New York, New York, a stockbroker currently registered with Spartan Capital Securiites, LLC, has been named in a customer initiated investment related arbitration claim on April 4, 2016, in which the customer requested $450,000.00 in damages based upon allegations that Kelly made misrepresentations to the customer concerning equity investments, and excessively traded […]

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LPL Financial Sued for Unsuitability

March 16, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

David Gulyamov, of Brooklyn, New York, a registered representative with LPL Financial LLC, has been named in a customer initiated investment related written complaint on January 13, 2017, based upon allegations that Gulyamov made misrepresentations to the customer concerning a variable annuity, and effected an investment purchase that failed to be suitable for the customer. […]

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NYLife Securities Sued By Customer For Misrepresentation

March 16, 2017  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Dustin Tylor Aiguier, of South Yarmouth, Massachusetts, a stockbroker formerly registered with NYLife Securities LLC, has been named in a customer initiated investment related arbitration claim, which settled on December 29, 2015, for $40,229.37 in damages based upon allegations that Aiguier made omissions of facts concerning a variable annuity investment. The customer alleged that her […]

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Garden State Securities Stockbroker Barred

March 08, 2017  |   Posted by :   |   Boilerroom, Stockbroker Fraud News   |   0 Comments

Garland Sean James, of New York, New York, a stockbroker formerly registered with Garden State Securities, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide information to FINRA personnel as requested. Letter No. 2015047471301 (Sept. 13, […]

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UBS Financial Services Sued For Unsuitability

Stephen Frederick Owen III, of Annapolis, Maryland, a stockbroker currently registered with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim on January 12, 2017, in which the customer requested $650,000.00 in damages based upon allegations that from 2015 to 2017, Owen overconcentrated the customer’s investment portfolio in speculative […]

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Woodstock Financial Group Stockbroker Under Investigation

March 08, 2017  |   Posted by :   |   Boilerroom, Stockbroker Fraud News   |   0 Comments

Ryan Michael Murnane, of Staten Island, New York, a stockbroker formerly registered with Woodstock Financial Group, Inc., was named in an investigation by the State of Montana Securities Department on February 1, 2017, in which Muranne’s conduct is under review for allegedly contacting a customer numerous times to solicit investment related business despite Murnane not […]

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Blackbook Capital Sued For Fraud

Philip Orezio Fatta, of Holtsville, New York, a stockbroker formerly registered with Blackbook Capital, LLC, has been named in a customer initiated investment related arbitration claim on June 15, 2016, in which the customer requested $381,195.16 in damages based upon allegations that Fatta breached his fiduciary and contractual duties, churned the customer’s account, effected unsuitable […]

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Ameriprise Financial Services Sued For Misrepresentation

March 08, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Tom Gilliam Parks, Jr., of Stephenville, Texas, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on January 19, 2017, in which the customer requested $180,000.00 in damages based upon allegations that Parks made unsuitable investment recommendations and misrepresentations to the customer concerning oil […]

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Morgan Stanley Sued For Unsuitability

Laurence Michael Braunstein, of New York, New York, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on August 5, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Braunstein, from 2014 to 2015, effected unsuitable closed end fund, unit investment trust, […]

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Wells Fargo Advisors Stockbroker Barred

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

Marcus Joseph Debaise, of Glastonbury, Connecticut, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide a response to FINRA pursuant to an information request. Letter No. 2015046925901 (May […]

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UBS Financial Services Sued for Unsuitable Recommendations

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

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Finance 500 Named Sued For Fraud

Robert Lansing Hicks, of Irvine, California, a former owner of Finance 500, Inc., a brokerage firm headquartered in Irvine California, has been named in a customer initiated investment related arbitration claim on January 11, 2017, in which the customer requested $102,500.00 in damages based upon allegations that Hicks breached his contractual and fiduciary obligations to […]

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Merrill Lynch Stockbroker Sanctioned For Selling Away

March 08, 2017  |   Posted by :   |   Promissory Notes, Selling away, Stockbroker Fraud News   |   0 Comments

Joshua David Stamm, of Lynchburg, Virginia, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been fined $10,000.00, prohibited from working in a supervisory capacity, and placed on heightened supervision based upon a Virginia State Corporation Commission Division of Securities Order containing allegations that Stamm engaged in outside business activities without […]

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LPL Financial LLC Named In Toy Complaint

March 08, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Michael Allen Toy, of Sunnyvale, California, a stockbroker currently registered with LPL Financial LLC, has been named in a customer initiated investment related written complaint on January 11, 2017, based upon allegations that Toy failed to abide by the customer’s investment instructions concerning the trading of mutual fund investments. Financial Industry Regulatory Authority (FINRA) Public […]

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Transamerica Financial Advisors Sued For Misrepresentation

Paul Theodore Dicicco, of Millbury, Massachusetts, a stockbroker formerly registered with Transamerica Financial Advisors, Inc., has been named in a customer initiated investment related written complaint on March 28, 2016, in which the customer requested $6,000.00 in damages based upon allegations that Dicicco made misrepresentations to the customer concerning the features of a variable annuity […]

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Morgan Stanley Stockbroker Steals $7 Million From Customers

Barry F. Connell, of Chester, New Jersey, an investment adviser representative and stockbroker formerly registered with Morgan Stanley, has been charged by the Securities and Exchange Commission (SEC) in a Complaint alleging that he misappropriated firm customers’ funds. Securities and Exchange Commission v. Barry F. Connell, No. 1:17-cv-00831 (S.D.N.Y. filed Feb. 3, 2017). According to […]

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Optimal Economics Capital Partners Charged With Fraud

Patrick O. Howard, of Dallas, Texas, along with two entities controlled by him, Howard Capital Holdings, LLC, and Optimal Economics Capital Partners, LLC, have been charged by the Securities and Exchange Commission (SEC) in a Complaint alleging that Howard and his firms committed securities fraud. Securities and Exchange Commission v. Patrick O. Howard, et al., […]

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Merrill Lynch Sued For Misrepresentation

March 08, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Brandon M. Adkins, of Eau Claire, Wisconsin, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, has been named in a customer initiated investment related written complaint, which settled on September 2, 2014, for $22,966.32 in damages based upon allegations that Adkins made misrepresentations and unsuitable investment recommendations to the customer regarding exchange […]

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GLS Stockbroker Barred For Fraud

March 08, 2017  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Keith Michael Rogers, of Hamilton, Alabama, a stockbroker formerly registered with G.L.S. & Associates, Inc., has been permanently barred by the Securities and Exchange Commission (SEC) from working as an investment adviser or broker, or otherwise associating with any firm which provides investment advice or sells securities to the public, according to an Order Instituting […]

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Northland Securities Stockbroker Barred

Nicholas H. Shermeta, of Minneapolis, Minnesota, a stockbroker formerly registered with Northland Securities, Inc., has been permanently barred by the Securities and Exchange Commission (SEC) from working as an investment adviser or broker, or associating with any firm which provides investment advice or sells securities to the public, according to an Order Instituting Administrative And […]

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UBS Financial Services Sued For Churning

Michael Roy Blueweiss, of Melville, New York, a stockbroker currently registered with UBS Financial Services Inc., has been named in a customer initiated investment related written complaint on November 3, 2014, based upon allegations that Blueweiss churned the customer’s account, concentrated the customer’s investment portfolio in structured products and annuities, and omitted information from the […]

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DMS Funds Stockbroker Charged With Fraud

March 08, 2017  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Peter Rajinder Kohli, of Pottstown, Pennsylvania, chief executive officer and present of DMS Advisors and chairman and trustee of DMS Funds, has been charged along with DMS Advisors, Inc., Marshad Capital Group, Inc., and The DMS Funds in a Complaint by the Securities and Exchange Commission (SEC) alleging that Kohli and the firms committed fraud […]

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NYLife Securities Broker Charged With Fraud

March 08, 2017  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Cecil E. Nivens, of Gastonia, North Carolina, a registered representative formerly associated with NYLife Securities, LLC, was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Nivens failed to execute upon customers’ investment instructions, and furnished documentation to customers containing false and misrepresented information. Department of Enforcement v. Cecil […]

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KC Ward Financial Stockbroker Barred For Fraud

March 08, 2017  |   Posted by :   |   Boilerroom, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Craig David Dima, of Ronkonkoma, New York, a stockbroker formerly registered with K.C. Ward Financial, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Dima effected unauthorized trades in a customer’s […]

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Beaconsfield Financial Services Censured For Failure To Supervise

March 08, 2017  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Beaconsfield Financial Services, Inc., a broker-dealer headquartered in Canonsburg, Pennsylvania, has been censured and fined $12,500.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to supervise private securities transactions facilitated by one of the firm’s registered representatives. Letter of Acceptance, Waiver and Consent, No. 2016047658101 (Feb. 27, 2017). […]

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Morgan Stanley Stockbroker Suspended For Selling Away

March 08, 2017  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Patrick Dennis Combs, of Houston, Texas, a stockbroker formerly registered with Morgan Stanley, has been fined $7,500.00 and suspended for seven months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he participated in private securities transactions, and concealed these activities from his firm. Letter […]

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Stifel Nicolaus Stockbroker Suspended For Misconduct

March 08, 2017  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unit Investment Trusts   |   0 Comments

Harold S. Pomeranz, of Garden City, New York, a stockbroker formerly registered with Stifel, Nicolaus & Company, 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 made unsuitable investment recommendations to a customer. Letter of Acceptance, Waiver […]

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Centaurus Financial Stockbroker Charged With Fraud

March 07, 2017  |   Posted by :   |   Promissory Notes, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Patric Ken Baccam, of Hemet, California, has been charged by the United States Securities and Exchange Commission (SEC) in a Complaint alleging that Hemet, inter alia, concocted a scheme to defraud investors in the sale of unsecured promissory notes. Securities and Exchange Commission v. Baccam, Docket No. 17-cv-172 (C.D. Cal. 2017). According to the Complaint, […]

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Royal Alliance Associates Sued For Unsuitable Recommendations

Bill Alfons Holubec, of Des Moines, Iowa, a stockbroker formerly registered with Royal Alliance Associates, Inc., has been named in a customer initiated investment related arbitration claim on January 9, 2017, in which the customer requested $500,000.00 in damages based upon allegations that Holubec effected unsuitable transactions in the customer’s account and made misrepresentations to […]

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Legend Securities Sued For Unsuitability

Michael Nicholas Guilfoyle, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim, which settled on October 2, 2015, for $99,999.00 in damages based upon allegations that Guilfoyle excessively traded or churned the customer’s investment account, made unsuitable over-the-counter equity recommendations, […]

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Financial West Group Stockbroker Barred

March 07, 2017  |   Posted by :   |   Churning, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Kelly Clayton Althar, of San Francisco, California, a stockbroker formerly registered with Financial West Group, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Althar effected trades in a customer’s account on an […]

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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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US Bancorp Investments Stockbroker Barred

March 07, 2017  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Shannon Kathleen Daniels, of Bloomfield, Missouri, a stockbroker formerly registered with U.S. Bancorp Investments, Inc., has been has permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she did not provide a response to FINRA’s information request. Letter No. 2016050764201 (Nov. 18, 2016). […]

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Scottsdale Capital Advisors Corp Stockbroker Barred

March 07, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Eric Joseph Miller, of Scottsdale, Arizona, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Office of Hearing Officers Default Decision containing findings that Miller failed to attend a disciplinary hearing and testify concerning his firm’s activities. Department of Enforcement v. Eric Joseph Miller, No. […]

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Edward Jones Stockbroker Charged With Stealing

March 07, 2017  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Austin Wayne Morton, of Sallisaw, Oklahoma, a stockbroker formerly registered with Edward Jones, was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint which alleged that Morton converted a senior customer’s funds. Department of Enforcement v. Austin Wayne Morton, No. 2016052347901 (Feb. 24, 2017). According to the Complaint, in September of […]

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IMS Securities Sued For Unsuitable Recommendations

Charles Robert Fischer, of Eugene, Oregon, a stockbroker currently registered with IMS Securities, Inc., has been named in a customer initiated investment related arbitration claim on July 26, 2016, in which the customer requested $500,000.00 in damages based upon allegations that Fischer made misrepresentations concerning investments and effected unsuitable real estate security sales. Financial Industry […]

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Western International Securities Sued For Negligence

Jed Edward Turner, of Missoula, Montana, a stockbroker formerly registered with Western International Securities, Inc., has been named in a customer initiated investment related arbitration claim on August 10, 2016, in which the customer requested $181,668.00 in damages based upon allegations that Turner negligently handled the customer’s stock portfolio. Financial Industry Regulatory Authority (FINRA) Public […]

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Morgan Stanley Sued For Misrepresentation

March 07, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Efthimios Emmanouilidis, of Wellesley, Massachusetts, a stockbroker currently registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on August 11, 2016, in which the customer requested $500,000.00 in damages based upon allegations that Emmanouilidis made misrepresentations to the customer concerning managed accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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Janney Montgomery Scott Sued For Unsuitability

Scott William Palmer, of Hackensack, New Jersey, a stockbroker currently registered with Janney Montgomery Scott LLC, has been named in a customer initiated investment related arbitration claim on July 26, 2016, in which the customer requested $75,000.00 in damages based upon allegations that Palmer effected unsuitable stock transactions in the customer’s investment account. Financial Industry […]

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UBS Financial Services Sued for Unauthorized Trading

David Howard Fagenson, of Palm Beach, Florida, a stockbroker formerly registered with UBS Financial Services Inc., has been named in a customer initiated investment related written complaint on September 26, 2016, based upon allegations that from 2013 to 2016, Fagenson effected unauthorized trades in the customer’s account and failed to abide by the customer’s instructions […]

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Red River Securities and Chief Executive Officer Sanctioned For Fraud

March 07, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Red River Securities, LLC, and the firm’s part owner and chief executive officer, Brian Keith Hardwick, were sanctioned by Financial Industry Regulatory Authority (FINRA) according to an Office of Hearing Officers Extended Hearing Panel Decision containing findings that Red River Securities and Hardwick, inter alia, made fraudulent omissions and misrepresentations concerning joint venture interests to […]

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Centaurus Financial Stockbroker Barred Forgery

March 07, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Stephen Eugene Winkelman Junior, of Pasadena, California, a stockbroker formerly registered with Centaurus Financial, Inc., was named in an Order issued by The State of Kansas Securities Commissioner which revoked Winkelman’s securities registration and instituted cease and desist sanctions against him based upon allegations that Winkelman falsified a customer’s consolidated financial statement and inflated values […]

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Ameriprise Financial Services Stockbroker Suspended

March 07, 2017  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

John Scott Elliott, of Overland Park, Kansas, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to respond to a FINRA information request. Letter No. 2016051253201 (Dec. 1, 2016). […]

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Oppenheimer Sued for Churning

Brett Scott Murphy, of Palm Beach Gardens, Florida, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been named in a customer initiated investment related arbitration claim on August 11, 2016, in which the customer requested $2,000,000.00 in damages based upon allegations that Murphy effected unsuitable unit investment trust transactions in the customer’s account, […]

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Brokerage Firms Censured For Overcharging Customers

March 07, 2017  |   Posted by :   |   Mutual Fund Fraud, Stockbroker Fraud News   |   0 Comments

Financial Industry Regulatory Authority (FINRA) member broker dealers, including Invest Financial Corporation, SII Investments, Investment Centers of America, and National Planning Corporation, have all been censured and fined by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firms overcharged charitable organization and retirement account customers in mutual funds transactions, and did […]

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Ameriprise Financial Services Stockbroker Barred

March 07, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Li-Lin Hsu, of Los Angeles, California, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been permanently barred from associating with any FINRA member in any capacity based upon consenting to findings that she failed to respond to FINRA’s information request. Letter No. 2015045016702 (Jun. 1, 2016). Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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LPL Financial Sued for Stockbroker Theft

March 07, 2017  |   Posted by :   |   Selling away, Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Joshua Daniel Mosshart, of Westlake Village, California, a stockbroker formerly registered with LPL Financial LLC, has been named in a customer initiated investment related arbitration claim on February 2, 2017, in which the customer requested $50,000.00 in damages based upon allegations that Mosshart solicited the customer to invest in products were not approved by LPL […]

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Ameriprise Financial Services Gets Unauthorized Trading Suit

James Edward Knee, of Concord, New Hampshire, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related arbitration claim, which settled on December 21, 2015, for $17,000.00 in damages based upon allegations that Knee made unsuitable investment recommendations to the customer concerning a royalty trust purchase. Financial […]

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Ameriprise Financial Services Stockbroker Barred for Churning

March 07, 2017  |   Posted by :   |   Churning, Stockbroker Fraud News   |   0 Comments

Gary Woodruff Peterson, of Rockford, Illinois, a stockbroker formerly registered with Ameriprise Financial Services, was prohibited from offering or selling securities in the State of Illinois based upon consenting to The State of Illinois Securities Department allegations that Peterson effected excessive trades in a customer’s account for purposes of accumulating excessive commissions to the customer’s […]

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Four Points Capital Partners Stockbroker Investigated

March 07, 2017  |   Posted by :   |   Churning, Stockbroker Fraud News   |   0 Comments

Zachary Samuel Berkey, of Melville, New York, a stockbroker formerly registered with Four Points Capital Partners LLC, has been named in The State of Montana Securities Division’s December 11, 2014 investigation into allegations that Berkey effected trades in a customer’s account on an excessive basis and made unsuitable investment recommendations to customers. Financial Industry Regulatory […]

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Ameriprise Financial Stockbroker Sanctioned

March 07, 2017  |   Posted by :   |   Elder Abuse, Non-traded REITs, Stockbroker Fraud News   |   0 Comments

Lori Cousineau Weaver, of Renton, Washington, a stockbroker formerly registered with Ameriprise Financial Services, Inc. were sanctioned by The State of Washington Securities Division based on an Order which imposed fines and a suspension of Weaver’s securities registration based upon consenting to findings that Weaver and Ameriprise Financial Services effected unsuitable sales of non-traded real […]

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Thrivent Investment Management Stockbroker Barred

March 07, 2017  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Jean Ann Walsh-Josephson, of Oshkosh, Wisconsin, a stockbroker formerly registered with Thrivent Investment Management Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to provide a response to FINRA’s information request. Letter No. 2015046529801 (Jan. 26, 2016). FINRA […]

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NEXT Financial Group Stockbroker Suspended For Misrepresentation

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

Dion R. Padilla, of San Antonio, Texas, a stockbroker with Next Financial Group, Inc., was fined $10,000.00 and suspended for fifteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Padilla made an unauthorized variable […]

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Cambridge Investment Research Stockbroker Suspended

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

Curtis C. Randle El, of Pittsburgh, Pennsylvania, a stockbroker formerly registered with Cambridge Investment Research, 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 made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and Consent, No. […]

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Dalton Strategic Investment Services Stockbroker Charged By Regulators

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

Eric J. Arnett, of Spring Hill, Florida, a stockbroker formerly registered with Dalton Strategic Investment Services, has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint which alleged that Arnett, inter alia, engaged in unauthorized outside business activities. Letter of Acceptance, Waiver and Consent, No. 2015044778302. (Feb. 13, 2017). According to the Complaint, […]

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LaSalle St Securities Stockbroker Suspended For Outside Business Activities

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

Diana Lynne Stamborski, of Palatine, Illinois, a stockbroker formerly registered with LaSalle St Securities, L.L.C., 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 she engaged in outside business activities in violation of her firm’s policies. Letter of Acceptance, […]

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Santander Securities Stockbroker Barred In Investigation

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

Joan Marie Larsen, of Freehold, New Jersey, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to cooperate in a FINRA investigation into allegations that she accepted an unauthorized loan from a customer. Letter of Acceptance, Waiver and Consent, No. […]

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Meyers Associates Stockbroker Suspended For Unauthorized Trading

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

Joseph Albert Ambrosole, of New York, New York, a stockbroker formerly registered with Meyers Associates, L.P., 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 on an unauthorized basis. Letter of Acceptance, Waiver […]

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RBC Capital Markets Stockbroker Suspended For Unauthorized Trading

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

Joseph Henry Murphy III, of Madison, Wisconsin, a stockbroker formerly registered with RBC Capital Markets, LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he traded in customer accounts on a discretionary basis in violation of his firm’s […]

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LPL Financial Stockbroker Suspended For Unsuitable Recommendations

Adam S. Fritzsche, of Atlanta, Georgia, a stockbroker formerly registered with LPL Financial LLC, has been fined and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unsuitable investment recommendations to customers and made misrepresentations on firm documentation concerning […]

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Philadelphia Stockbroker Suspended For Unauthorized Trading

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

Larry Westly Farmbry, of Philadelphia, Pennsylvania, a stockbroker formerly registered with First Allied Securities, 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 on a discretionary basis in violation of his firm’s […]

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Wells Fargo Advisors Stockbroker Barred By Regulators

February 27, 2017  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Matthew Christopher Maczko, of Oak Brook, Illinois, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he charged customers with excessive fees, and misled FINRA during his recorded testimony regarding the allegations […]

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Thrivent Investment Mangagement Stockbroker Barred For Stealing

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

Eugene D. Anderson, of Apache Junction, Arizona, a stockbroker formerly registered with Thrivent Investment Management, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations that Anderson converted customer funds. Letter of Acceptance, Waiver […]

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BBVA Securities Stockbroker Barred In Investigation

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

Eric S. Darty, of Birmingham, Alabama, a stockbroker formerly registered with BBVA Securities Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed an investigation into allegations that he converted customer funds. Letter of Acceptance, Waiver and Consent, No. […]

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Ultralat Capital Markets CEO Barred For Failure To Supervise

February 27, 2017  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Alejandro Falla, of Miami, Florida, a former president and chief executive officer of Ultralat Capital Markets, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he omitted information from customers concerning non-market foreign exchange rates pertaining to transactions involving bond […]

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National Securities Corporation Sued By Customer For Fraud

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

Trevor Joseph Wurtzebach, of Chicago, Illinois, a stockbroker formerly registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim, which settled on August 3, 2014, in which the customer received $80,000.00 in damages based upon allegations that Wurtzebach made fraudulent misrepresentations to the customer, breached his fiduciary duties, and […]

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Dawson James Sued For Unsuitable Trading

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

Kennister Ulesley Daley, of Boca Raton, Florida, a stockbroker formerly registered with Dawson James Securities, Inc., has been named in a customer initiated investment related written complaint on January 5, 2017, in which the customer requested $65,000.00 in damages based upon allegations that Daley, from April of 2015 to February of 2016, traded options excessively […]

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Oriental Financial Services Corp Named In Fraud Claim

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

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

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Ameriprise Financial Services Sued By Customer

February 27, 2017  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Jeffrey Scott Davis, of Virginia Beach, Virginia, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related written complaint on January 4, 2017, in which the customer requested $20,415.28 in damages based upon allegations that Davis omitted information concerning the fees and surrender penalties on two variable […]

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Morgan Stanley Sued by Customer for Fraud

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

Bruce Benjamin Greenwald, of Pepper Pike, Ohio, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on January 3, 2017, in which the customer requested $800,000.00 in damages based upon allegations that Greenwald failed to abide by the customer’s investment based instructions, and made misrepresentations to […]

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Morgan Stanley Stockbroker Barred In Investigation

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

Karen McKinley, of Manchester, New Hampshire, a stockbroker formerly registered with Morgan Stanley, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she obstructed a FINRA investigation into allegations of potential non-compliance regarding trading in customer accounts that was referenced by […]

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Fifth Third Securities Stockbroker Fired For Falsification

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

Kevin Mark Reed, of Fort Wayne, Indiana, a stockbroker formerly registered with Fifth Third Securities, Inc., has been terminated from employment on July 8, 2016, based upon allegations that he altered the documentation of firm customers. Financial Industry Regulatory Authority (FINRA)Public Disclosure reveals that Reed has been identified in two customer initiated investment related disputes […]

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Revere Securities Stockbroker Charged By State Regulators

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

Jonathan Eric Altman, of Boston, Massachusetts, has been charged by the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth of Massachusetts in a Compliant which alleged that Altman made unsuitable investment recommendations pertaining to equities and real estate investment trust products, effected unauthorized transactions, excessively traded in the customer’s account, and […]

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LPL Financial Named In Customer Arbitration

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

Brian Hunter Anderson, of Birmingham, Alabama, a stockbroker formerly registered with LPL Financial LLC, has been named in a customer initiated investment related arbitration claim on May 31, 2016, based upon allegations that Anderson made unsuitable investment recommendations to the customer regarding direct investments and oil and gas products. Financial Industry Regulatory Authority (FINRA)Public Disclosure […]

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Western International Securities Stockbroker Charged by Regulators

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

Dennis Albert Mehringer Jr., of Pasadena, California, a stockbroker currently registered with Western International Securities, Inc., was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Mehringer, inter alia, made investment recommendations which were not suitable for customers. Department of Enforcement v. Mehringer, Jr., No. 2014041868001 (Dec. 16, 2016). According to the […]

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The Huntington Investment Company Named In Fraud Complaint

February 27, 2017  |   Posted by :   |   Stockbroker Fraud News, Unit Investment Trusts   |   0 Comments

Nathan Thomas Koenig, of Perrysburg, Ohio, a stockbroker previously registered with The Huntington Investment Company, has been named in a customer initiated investment related written complaint on April 4, 2016, in which the customer requested $14,461.87 in damages based upon allegations that Koenig misrepresented a variable annuity, and omitted that the customer would forego guaranteed […]

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Westminster Financial Services Named Stockbroker Theft Complaint

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

Richard Grant Cody, of Spring Lake, New Jersey, a stockbroker formerly registered with Westminster Financial Securities, Inc., has been named in a customer initiated investment related written complaint on January 18, 2017, based upon allegations that Cody misappropriated funds belonging to the customer in connection with over-the-counter equity transactions. Financial Industry Regulatory Authority (FINRA) Public […]

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LPL Financial LLC Named In Fraud Complaint

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

Roger Salvatore Zullo, of Boston, Massachusetts, a stockbroker formerly registered with LPL Financial, LLC, was charged along with LPL Financial, LLC, in a Compliant by the Enforcement Section of Massachusetts Securities Division of the Office of the Secretary of the Commonwealth of Massachusetts, which contained allegations that, inter alia, Zullo defrauded LPL Financial LLC’s customers […]

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National Securities Corp Sued for Misrepresentation

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

Todd Joseph Henrich, of Edison, New Jersey, a stockbroker currently registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim, which settled on September 29, 2015, for $26,000.00 in damages based upon allegations that Henrich negligently handled the customer’s investment portfolio, breached his fiduciary duties, made misrepresentations to the […]

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Signator Investors Sued By Customer In Arbitration

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

David Jonathan Bolton, of Bowling Green, Kentucky, a stockbroker formerly registered with Signator Investors, Inc., has been named in a customer initiated investment related written complaint on April 1, 2016, based upon allegations that Bolton effected unsuitable class A share mutual fund transactions in an elderly customer’s account, and charged the customer with excessive commissions […]

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Wells Fargo Advisors Sued for Failure To Disclose Commissions

Chadwick C. Collins, of Carlsbad, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related arbitration claim, which settled on April 18, 2016, for $86,559.31 in damages based upon allegations that Collins, from December of 2015 to March of 2016, failed to disclose commissions charged to […]

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Blackbook Capital Sued by Customer For Fraud

Samuel T. Januszeqski-Ytrt, of Mineola, New York, a stockbroker formerly registered with Blackbook Capital LLC, has been named in a customer initiated investment related arbitration claim on November 21, 2016, in which the customer requested $250,000.00 in damages based upon allegations that Januszeqski-Ytrt breached his fiduciary duties, made misrepresentations concerning investments, and defrauded the customer […]

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JP Morgan Securities LLC Stockbroker Fired For Information Breach

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

Brad William McDowell, of Niles, Illinois, a stockbroker registered with J.P. Morgan Securities LLC, was terminated from employment on June 17, 2016, based upon allegations that McDowell did not properly secure confidential information pertaining to the firm’s customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that McDowell has been named in three customer initiated […]

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Kovack Securities Sued for Unsuitability

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

Curtis Dean Milakovich, of Naples, Florida, a stockbroker currently registered with Kovack Securities Inc., has been named in a customer initiated investment related arbitration claim on August 31, 2016, based upon allegations that Milakovich made unsuitable investment recommendations to the customer, implemented an unsuitable strategy for investing, and churned the customer’s account. The customer additionally […]

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Westminster Financial Services Sued by Customer for Theft

Jill M. Cody, of Spring Lake, New Jersey, a stockbroker formerly registered with Westminster Financial Securities, Inc., has been named in a customer initiated investment related written complaint on January 18, 2017, based upon allegations that Cody misappropriated the customer’s funds. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Cody has been identified in […]

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Legend Securities Sued by Customer For Fraud

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

Baris Cabalar, of Hauppauge, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim on March 8, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Cabalar violated the Arkansas Securities Act, churned the customer’s account, breached his contractual and […]

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Sterne Agee Financial Services Sued for Misrepresentation

Dean Sadrudin Mustaphalli, of Forest Hills, New York, a stockbroker formerly registered with Sterne Agee Financial Services, Inc., has been named in a customer initiated investment related arbitration claim, which settled on December 1, 2015, for $400,000.00 in damages based upon allegations that Mustaphalli made misrepresentations to the customer concerning direct investment products, and effected […]

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Wells Fargo Advisors Sued by Customer In FINRA Arbitration

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

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

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MSI Financial Services Sued In Customer Arbitration Alleging Unsuitability

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

James Paul Kolf, of Madison, Wisconsin, a stockbroker formerly registered with MSI Financial Services, Inc., has been named in a customer initiated investment related written complaint on January 30, 2017, in which the customer requested $8,113.06.00 in damages based upon allegations that Kolf omitted information concerning the surrender penalties on a variable annuity contract. Financial […]

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Garden State Securities Stockbroker Terminated For Unsuitable Recommendations

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

Tyre Fred Newsome, of New York, New York, a stockbroker with Garden State Securities, Inc., was terminated from employment on April 4, 2016, based upon allegations that he made unsuitable investment recommendations to the firm’s customers concerning investments. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that on April 18, 2011, a customer filed […]

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Bright Trading Stockbroker Terminated In Ponzi Scheme

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

Stephen Skeffington Eubanks, of Las Vegas, Nevada, a stockbroker with Bright Trading, LLC, was terminated from employment on August 26, 2016, based upon allegations that he failed to provide disclosure to his firm concerning an outside business activity which consisted of his ownership in Eubiquity Capital LLC. On November 1, 2016, Eubanks was charged by […]

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Cape Securities Stockbroker Terminated For Unauthorized Trading

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

Joseph Patrick Fuller, of New York, New York, a stockbroker registered with Cape Securities, Inc., was terminated from employment on July 6, 2016, based upon allegations that Fuller effected unauthorized trades in a firm customer’s account. Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that on March 7, 2013, at which time Fuller was […]

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UBS Stockbroker Suspended For Outside Business Activities

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

James Rose, of New York, New York, a stockbroker formerly registered with UBS Financial Services, Inc., has been fined $25,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in outside business activities and private securities transactions which were not authorized […]

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Raymond James Stockbroker Suspended For Selling Away

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

James Calder, of Borger, Texas, a stockbroker formerly registered with Raymond James, has been fined $15,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in outside business activities in violation of his firm’s policies. Letter of Acceptance, Waiver and Consent, […]

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Edward Jones Sanctioned For Overcharging Customers

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

Edward Jones, a broker-dealer headquartered in Saint Louis, Missouri, was censured and fined $125,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm overcharged customers pertaining to the interest rates on customers’ loans. Letter of Acceptance, Waiver and Consent, No. 2016048760501 (Feb. 1, 2017). According to the AWC, in January […]

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Further Lane Securities Sanctioned For Ripping Off Customers

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

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

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Alluvion Chief Executive Officer Barred In Investigation

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

John Sherman Jumper, of Memphis, Tennessee, a former chief executive officer, chief compliance officer, and chief financial officer of Alluvion Securities, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations that Jumper misappropriated […]

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Ameriprise Financial Services Sued by Customer For Misrepresentation

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

Ziv Ohel, of Deerfield, Illinois, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related written complaint on December 6, 2016, in which the customer requested $6,521.98 in damages based upon allegations that from February of 2015 to February of 2016, Ohel made misrepresentations and unsuitable recommendations […]

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JP Morgan Securities Sued by Customer In FINRA Arbitration

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

Rick Douglas Konecny, of Chicago, Illinois, a stockbroker currently registered with J.P. Morgan Securities LLC, has been named in a customer initiated investment related written complaint on June 23, 2016, in which the customer requested $400,000.00 in damages based upon allegations that Konecny effected unauthorized and unsuitable transactions in the customer’s account, and overconcentrated the […]

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Wells Fargo Advisors Stockbroker Terminated For Misconduct

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

James Scott Doidge, of Pueblo, Colorado, a stockbroker registered with Wells Fargo Clearing Services, LLC, has been terminated from employment on January 4, 2017, based upon allegations that he failed to provide Wells Fargo with accurate information regarding a firm customer’s account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Doidge has been named […]

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Lawson Financial Corporation Expelled For Securities Fraud

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

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

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Comprehensive Wealth Management Sued by Customer For Suitability

Gary Marlin Arford, of Lynwood, Washington, a stockbroker formerly registered with Comprehensive Wealth Management, LLC, was named in a customer initiated investment related arbitration claim on September 12, 2016, wherein the customer requested $140,760.00 in damages based upon allegations that Arford made unsuitable investment recommendations and effected unsuitable transactions in the customer’s account pertaining to […]

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American Portfolios Financial Services Stockbroker Suspended For Selling Away

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

Jeremy T. Monte, of Fairport, New York, a stockbroker formerly registered with American Portfolios Financial Services, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he partook in outside business activities and private securities transactions which his firm did […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

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

Clarence Mark Tingle, of Lewes, Delaware, a stockbroker currently registered with Morgan Stanley, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected discretionary trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2014042951501 […]

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H Beck Named For Unsuitable Annuity Sales

February 13, 2017  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Michael Lee Child, of Draper, Utah, a stockbroker currently registered with H. Beck, Inc., has been named in a customer initiated investment related written complaint, which settled on July 6, 2016, for $35,000.00 in damages based upon allegations that Child effected transactions in the customer’s account which were not suitable, and was liable for the […]

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Jesus Named In FINRA Securities Arbitration

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

Jesus Delacarridad Rodriguez, of Miami, Florida, a stockbroker currently registered with IMS Securities, Inc., has been named in a customer initiated investment related arbitration claim on August 19, 2016, in which the customer requested $1,667,000.00 in damages based upon allegations that Rodriguez breached his fiduciary duties, made misrepresentations to the customer, and negligently handled the […]

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Pruco Securities Stockbroker Barred In Investigation

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

Hyun Sik Cho, of Dewitt, New York, a stockbroker formerly registered with Pruco Securities, L.L.C., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations that he partook in unauthorized loan transactions with customers. Letter […]

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Stifel Nicolaus & Company Sued For Stockbroker Theft

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

Jon Brett Schmidhammer, of Dublin, Ohio, a stockbroker formerly registered with Stifel, Nicolaus & Company, Incorporated, has been named in a customer initiated investment related arbitration claim on October 14, 2016, in which the customer requested $500,000.00 in damages based upon allegations that Schmidhammer converted the customer’s funds, breached his fiduciary and contractual duties to […]

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Kovack Securities Sued by Customer For Misrepresentation

Gerald James Ohalloran, a stockbroker currently registered with Kovack Securities Inc., has been named in a customer initiated investment related arbitration claim on August 2, 2016, in which the customer requested $135,000.00 in damages based upon allegations that Ohalloran breached his fiduciary and contractual duties to the customer, made misrepresentations and omissions concerning investments, and […]

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Investors Capital Corp Sued by Customer In Arbitration

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

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

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HD Vest Investment Services Sued by Customer

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

Paul Robert Nitz, of Minneapolis, Minnesota, a stockbroker currently registered with HD Vest Investment Services, has been named in a customer initiated investment related arbitration claim on July 13, 2016, in which the customer requested $528,000.00 in damages based upon allegations that Nitz made unsuitable equity investment recommendations to the customer, made misrepresentations to the […]

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America Northcoast Securities Sued For Fraud

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

Dominic Anthony Tropiano, of Cleveland, Ohio, a stockbroker formerly registered with America Northcoast Securities, Inc., was named in a customer initiated investment related arbitration claim, in which the customer requested $800,000.00 in damages based upon allegations that from 2015 to 2016, Tropiano violated FINRA Rules and Ohio Securities Act, breached his fiduciary and contractual duties […]

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Joseph Gunnar & Company Sued by Customers for Unsuitable Recommendations

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

John Justin Piro, of Melville, New York, a stockbroker currently registered with Joseph Gunnar & Co. LLC, has been named in a customer initiated investment related arbitration claim on December 7, 2016, in which the customer requested $29,949.00 in damages based upon allegations that Piro effected unauthorized and unsuitable equity trades, and ultimately churned the […]

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Waddell & Reed Stockbrokers Charged With Selling Away

February 13, 2017  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Neal Charles Moon, and Natalie E. Fogiel Moon, both of Dallas, Texas, and stockbrokers formerly registered with Waddell & Reed, have been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that the individuals effected unauthorized private securities transactions. Department of Enforcement v. Moon et al., No. 2015046926801 (July 8, […]

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Legend Securities Sued by Customer For Churning

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

Jeanpaul Charles Skovronck, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim on August 29, 2016, in which the customer requested $200,000.00 in damages based upon allegations that Skovronck negligently handled the customer’s investment portfolio, breached his fiduciary and contractual […]

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PFS Investments Sued by Customer for Selling Away

Perry De Leeuw, of Duluth, Georgia, a stockbroker formerly registered with PFS Investments Inc., has been named in a customer initiated investment related arbitration claim on December 5, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Leeuw took possession of a customer’s funds in connection with an outside business activity […]

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JP Turner & Company Sued by Customer For Churning

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

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

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Kovack Securities Stockbroker Barred In Regulatory Investigation

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

Douglas Wayne Studer, of Fort Lauderdale, Florida, a stockbroker formerly registered with Kovack Securities Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Studer’s consent to findings that he failed to cooperate in a FINRA investigation into allegations of his misconduct regarding an inheritance […]

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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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Alexander Capital LP Sued by Customers for Sale of Unsuitable Investments

John Owen Slipek, of Staten Island, New York, 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 Slipek effected over-the-counter equity transactions in the customer’s account which were neither […]

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Beech Hill Advisors Named In FINRA Securities Arbitration

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

Frank Hamrak, of New York, New York, a stockbroker currently registered with Beech Hill Securities, Inc., has been named in a customer initiated investment related written complaint on November 21, 2016, in which the customer requested $185,000.00 in damages based upon allegations that from March 20, 2014, to November 9, 2016, Hamrak effected unsuitable transactions […]

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Merrill Lynch Broker Sued For Misrepresentation

Robert Michael Giusti, of New York, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Inc., has been named in a customer initiated investment related arbitration claim on April 24, 2015, in which a customer was ultimately awarded $300,000.00 in damages based upon allegations that from 2010 to 2015, Giusti made […]

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Reef Securities Sued for Securities Fraud

Garland Wayne Benton Jr., of Richardson, Texas, a stockbroker formerly registered with Reef Securities, Inc., has been named in a customer initiated investment related arbitration claim on April 14, 2014, in which the customer requested $946,670.00 in damages based upon allegations that Benton engaged in unauthorized investment solicitations, breached his contractual duties, omitted facts concerning […]

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Reef Securities Sued for The Failure To Supervise

Harris Wayne Kirk, or Richardson, Texas, a stockbroker currently registered with Reef Securities, Inc., has been named in a customer initiated investment related arbitration claim on February 11, 2016, in which the customer requested $250,000.00 in damages based upon allegations that Kirk breached his contractual duties, and failed to conduct proper due diligence as well […]

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JP Turner & Company LLC Named In FINRA Customer Securities

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

Shaun Evan Stein, of New York, New York, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been named in a customer initiated investment related arbitration claim on June 30, 2014, in which the customer requested $75,000.00 in damages based upon allegations that Stein breached his contractual duties owed to the customer, engaged […]

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JD Nicholas & Associates Named In FINRA Securities Arbitration

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

Keith Lawton James Connolly, of Syosset, New York, a stockbroker currently registered with J.D. Nicholas & Associates, Inc., has been named in a customer initiated investment related arbitration claim, which settled on July 20, 2016, for $43,976.90 in damages based upon allegations that Connolly effected unsuitable equity transactions in the customer’s account, overconcentrated the customer’s […]

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One Broker Lands Wells Fargo Advisors in 43 FINRA Securities Arbitrations

Charles Bernard Lynch, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in Forty Three customer initiated investment related disputes between October 6, 2014, and August 9, 2016, which collectively settled for $6,932,566.03 in damages based upon allegations against Lynch which included unsuitability, misrepresentation, negligence, and account mismanagement. Financial Industry Regulatory Authority […]

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Caldwell International Securities Stockbroker Barred In Investigation

February 13, 2017  |   Posted by :   |   Exchange Traded Funds, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Ricardo Francois, of New York, New York, a stockbroker formerly registered with Caldwell International Securities, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to respond to a FINRA information request. Letter No. 2015043464602 (October 30, 2015). Prior to […]

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Meyers Associates Stockbroker Barred In Investigation

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

Mark Zeltser, of Brooklyn, New York, a stockbroker formerly registered with Meyers Associates, L.P., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to respond to a FINRA information request. Letter No. 2014039091902 (Nov. 9, 2015). Prior to his […]

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Centaurus Financial Named In FINRA Securities Arbitration

Marcious Dickerson, of Livonia, Michigan, a stockbroker currently registered with Centaurus Financial, Inc., has been named in a customer initiated investment related arbitration claim, which settled on September 1, 2015, for $97,983.70 in damages based upon allegations that Dickerson breached his fiduciary and contractual duties to the customer, effected unsuitable transactions in the customer’s account, […]

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Laidlaw & Company Named In FINRA Securities Arbitration

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

Matthew Ian Turner, of Fort Lauderdale, Florida, a stockbroker formerly registered with Laidlaw & Company (UK) Ltd., has been named in a customer initiated investment related arbitration claim, which settled on August 8, 2014, for $23,115.00 in damages based upon allegations that Turner effected unsuitable equity transactions in the customer’s account. Financial Industry Regulatory Authority […]

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Wells Fargo Named In Customer Arbitrations Alleging Unsuitability

Charles Henry Frieda, of Irvine, California, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in thirty-two customer initiated investment related disputes between October 6, 2014, and October 25, 2016, which have collectively settled for $5,268,553.00 in damages based upon allegations that Frieda effected unsuitable transactions in the customers’ accounts, which […]

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Aegis Capital Corp Stockbroker Barred For Conversion

February 11, 2017  |   Posted by :   |   Embezzlement, Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Chaz Partosan, of New York, New York, a stockbroker formerly registered with Aegis 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 converted customer funds. Letter of Acceptance, Waiver and Consent, No. 2016052079401 (Jan. 25, 2017). According to […]

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LPL Financial LLC Stockbroker Suspended For Unsuitable Trading

February 11, 2017  |   Posted by :   |   Churning, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Steve Dale Heath, of Newport News, Virginia, a stockbroker formerly registered with LPL Financial, LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in a customer’s account on an unsuitable and unauthorized basis. Letter of […]

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New Jersey Based Morgan Stanley Broker Caught Stealing $5 Million

February 06, 2017  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Barry F. Connell, formerly of the Ridgewood office of Morgan Stanley, Inc., formerly known as Morgan Stanley Smith Barney, Inc., was charged by the United States Securities & Exchange Commission for the Connell, for the violation of Sections 206(1) and 206(2) of the Advisers Act, in that while acting as an investment adviser, by use […]

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Meyers Associates Stockbroker Barred In Investigation

February 02, 2017  |   Posted by :   |   Boilerroom, Stockbroker Fraud News   |   0 Comments

Honetta C. Kao, of Brooklyn, New York, a stockbroker formerly registered with Meyers Associates, L.P., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Kao failed to respond to FINRA’s request for Kao’s information. Case No. 2014039091901 (Nov. 9, 2015). Prior to Kao’s […]

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Avenir Financial Group Stockbroker Suspended

February 02, 2017  |   Posted by :   |   Churning, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Richard Gomez, of New York, New York, a stockbroker formerly registered with Avenir Financial Group, has been suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Gomez, inter alia, effected unauthorized and excessive trades in the customers’ accounts. Letter of Acceptance, […]

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Spartan Capital Named In FINRA Securities Arbitration

February 02, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Kerry Patrick Raheb, a stockbroker formerly registered with the Garden City, New York office of Spartan Capital Securities, LLC, has been named in a customer initiated investment related written complaint on July 21, 2014, in which the customer requested $37,214.99 in damages based upon allegations that Raheb coerced the customer to purchase over-the-counter equities which […]

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Woodbury Financial Services Named In FINRA Securities Arbitration

Daniel John Dunn, of Mission Viejo, California, a stockbroker currently registered with Woodbury Financial Services, Inc., has been named in a customer initiated investment related written complaint on August 17, 2015, in which the customer requested $48,624.47 in damages based upon allegations that Dunn made unsuitable investment recommendations to the customer concerning the sale of […]

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Liberty Partners Financial Services Named In Fraud Claim

February 02, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Brian J. Zimmerman, of San Diego, California, a stockbroker formerly registered with Liberty Partners Financial Services, LLC, has been named in a customer initiated investment related arbitration claim, in which the customer was awarded $20,000.00 in damages on March 14, 2016, based upon allegations that Zimmerman made misrepresentations and omissions to the customer, churned the […]

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Source Capital Group Stockbroker Barred In Investigation

February 02, 2017  |   Posted by :   |   Embezzlement, Stockbroker Fraud News   |   0 Comments

Hugh Wilkens Levey, of New York, New York, a stockbroker formerly registered with Source Capital Group, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into allegations that Levey misappropriated funds. Letter […]

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Aegis Capital Corp Named In FINRA Securities Arbitration

February 02, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

John David Fenimore, of Melville, New York, a stockbroker formerly registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim on June 9, 2014, in which the customer requested $250,000.00 in damages based upon allegations that Fenimore utilized the customer’s margin in an unsuitable manner, effected equity trades in […]

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Cetera Advisors Named In FINRA Securities Arbitration Alleging Unsuitability

Daniel George McPherson, of Idaho Falls, Idaho, a stockbroker currently registered with Cetera Advisors LLC, has been named in a customer initiated investment related written complaint on March 7, 2016, in which the customer requested $40,151.00 in damages based upon allegations that McPherson effected unsuitable fixed annuity transactions in the customer’s account. Financial Industry Regulatory […]

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LPL Financial LLC Named In Customer Churning Claim

February 01, 2017  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Thomas Edward Andrews, of Salt Lake City, Utah, a barred stockbroker formerly registered with LPL Financial LLC, has been named in a customer initiated investment related written complaint on October 20, 2016, in which forty-four customers have collectively requested $10,504,799.00 in damages based upon allegations that Andrews churned the customers’ accounts, negligently managed the customers’ […]

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Aegis Capital Corp Named Customer Churning Claim

Indra Ramsahai, of New York, New York, a stockbroker formerly registered with Aegis Capital Corp, has been named in a customer initiated investment related arbitration claim, which settled on July 18, 2016, for $90,000.00 in damages based upon allegations that Ramsahai churned the customer’s investment account and effected unsuitable leveraged exchange traded fund transactions. Financial […]

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UBS Financial Services Named In FINRA Securities Arbitration

February 01, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

William Jeffrey Carlton, of Vienna, Virginia, a stockbroker currently registered with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim on November 10, 2016, in which the customer requested $525,000.00 in damages based upon allegations that Carlton effected unsuitable equity and limited partnership interest transactions in the customer’s account, […]

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National Securities Named In FINRA Arbitration Involving ETFs

James Bryant Eichner Junior, of New York, New York, a stockbroker currently registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim on June 30, 2015, in which the customer requested $500,000.00 in damages based upon allegations that Eichner negligently handled the customer’s investment account and breached his fiduciary […]

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National Securities Named In FINRA Securities Arbitration

February 01, 2017  |   Posted by :   |   Boilerroom, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Allan P. Montalbano, of Garden City, New York, a stockbroker formerly registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim on June 20, 2016, in which the customer requested $350,000.00 in damages based upon allegations that Montalbano breached his contractual and fiduciary duties, negligently handled the customer’s investment […]

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LPL Financial Group Stockbroker Barred In Investigation

February 01, 2017  |   Posted by :   |   Boilerroom, Stockbroker Fraud News   |   0 Comments

Ronald Edward Siemon, of Albuquerque, New Mexico, a stockbroker formerly registered with LPL Financial LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into allegations of Siemon’s misconduct asserted via a customer […]

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LPL Financial Named In Securities Arbitration Alleging Churning

February 01, 2017  |   Posted by :   |   Churning, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Eugene Theodore Smietana, of Traverse City, Michigan, a stockbroker formerly registered withEugene Theodore Smietana, has been named in a customer initiated investment related written complaint, which settled on December 7, 2015, for $87,750.00 in damages based upon allegations that Smietana effected equity trades in the customer’s account on an excessive and unsuitable basis. Financial Industry […]

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Merrill Lynch Stockbroker Terminated For Selling Away

February 01, 2017  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Patrick J. Sands, of Quincy, Massachusetts, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, was terminated from employment on November 19, 2015, based upon allegations that he sold securities outside the auspices of his firm, which was a violation of his firm’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals […]

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Ameriprise Financial Services Named In FINRA Securities Arbitration

February 01, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

William David Utanski, of Fort Lauderdale, Florida, a stockbroker currently registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related arbitration claim, which settled on March 7, 2016, for $3,000.00 in damages based upon allegations that Utanski effected unsuitable stock transactions in the customer’s account pertaining to Dendreon Corporation, which […]

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Cetera Advisors Named In Securities Fraud Arbitration Claim

February 01, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

James Christopher Hayne, a stockbroker formerly registered with Cetera Advisors LLC, has been named in a customer initiated investment related arbitration claim on December 13, 2016, in which the customer requested $500,000.00 in damages based upon allegations that Hayne Hayne breached his fiduciary duties, effected stock trades on an excessive basis, failed to diversify the […]

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Legend Securities Named In Customer Securities Arbitration

February 01, 2017  |   Posted by :   |   Boilerroom, Stockbroker Fraud News   |   0 Comments

Bernardo Misseri, of Staten Island, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim, in which the customer was awarded $50,000.00 in damages on August 12, 2016, based upon allegations that Misseri breached his fiduciary duties, negligently handled the customer’s portfolio, failed to […]

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JJB Hilliard WL Lyons Stockbroker Barred In Investigation

February 01, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Henry Al Dean Watson, a stockbroker formerly registered with J.J.B. Hilliard, W.L. Lyons, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into allegations of his misconduct. Letter of Acceptance, Waiver […]

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Santander Securities Stockbroker Suspended For Annuity Fraud

February 01, 2017  |   Posted by :   |   Annuity Schemes, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Joseph C. Noyes IV, a stockbroker formerly registered with Santander Securities LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Noyes falsified customer documents, and effected an annuity exchange which was not suitable for a customer. Letter of […]

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CUSO Financial Services Principal Suspended For Failure To Supervise

Richard Michael Gholson, of Pahoa, Hawaii, a principal formerly registered with Cuso Financial Services, L.P., 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 failed to supervise the suitability of unit investment trust recommendations made by the firm’s […]

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Caldwell International Securities Stockbroker Barred In investigation

February 01, 2017  |   Posted by :   |   Boilerroom, Stockbroker Fraud News   |   0 Comments

James Coleman Starks, of New York, New York, a stockbroker formerly registered with Caldwell International Securities, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Starks did not respond to a letter from FINRA which requested information from Starks. Case No. 2015043464601 (Oct. […]

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Cadaret Grant & Company Fined For Sale of Unsuitable Securities

February 01, 2017  |   Posted by :   |   Annuity Schemes, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Cadaret, Grant & Co., Inc., a brokerage firm headquartered in Syracuse, New York, and its former registered representative, Charles Lee Deremo, of Eagan, Minnesota, have been censured and fined by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that Deremo made unsuitable investment recommendations to a firm customer, and the firm failed to […]

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Rogue LPL Financial Broker Quietly Barred By FINRA

January 26, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Lance Shaw of Havcrford, Pennsylvania, formerly registered with LPL Financial LLC, was recently barred from the Financial Industry Regulatory Authority (FINRA) after failing to respond to the FINRA Staff for “information.” FINRA suspended Shaw in May 2016, but decided not to bar him until August 2016.  Why FINRA wanted to talk to Shaw is a secret […]

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UBS Financial Services Sued by Customer For Unsuitable Investments

Christiane Olsen, of New York, New York, a stockbroker currently registered with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim, which settled on November 28, 2016, for $29,000.00 in damages based upon allegations that Olsen effected unsuitable master limited partnership and stock transactions in the customer’s account that […]

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Salomon Whitney Sued by Customer In FINRA Arbitration

January 26, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

What does the Whitney Bank or JC Whitney have to do with Salomon Brothers or Salomon Smith Barney? What does a Salomon or a Whitney have to do with Johnny Prinzivalli from Long Island? Nothing.  But Salomon Whitney Financial is a brokerage firm with a fancy sounding name located lovely Farmingdale, New York, and founded by a […]

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Newbridge Securities Sued by Customer For Barred Broker Misconduct

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

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Fox Financial Fails To Supervise Private Securities Transactions

January 26, 2017  |   Posted by :   |   Failure To Supervise, Hedge Funds, Stockbroker Fraud News   |   0 Comments

Sanctions levied on Fox Financial Mangement Corporation, a brokerage firm based on Carrollton, Texas, along with principals Brian A. Murphy, of Frisco, Texas, and James E. Rooney, Jr., of Carrollton, Texas, were affirmed by Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council in a Decision which confirmed findings that the firm and principals, inter alia, […]

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PFS Investments Stockbroker Suspended For Unauthorized Trading

January 26, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel Staudacher, of Dallas, Texas, a stockbroker currently registered with PFS Investments 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 Staudacher, inter alia, effected unauthorized transactions in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2016048603001 […]

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EJ Sterling Stockbroker Suspended For Churning and Unauthorized Trading

January 26, 2017  |   Posted by :   |   Boilerroom, Churning, Stockbroker Fraud News   |   0 Comments

Matthew Meehan, a stockbroker formerly registered with E.J. Sterling, LLC, has been fined $15,000.00 and suspended for twelve months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unsuitable trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2016050114901 (Jan. 11, 2017). […]

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Woodstock Financial Group Sued by Customer For Fraud

John Columbia, of Garden City, New York, a stockbroker formerly registered with Woodstock Financial Group, Inc., has been named in a customer initiated investment related arbitration claim, which settled on April 15, 2015, for $167,383.05 in damages based upon allegations that Columbia made misrepresentations to the customer, breached his contractual duties, negligently handled the customer’s […]

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Wells Fargo Advisors Sued By Customer For Suitability

January 26, 2017  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

William Robert Berg, of Mesa, Arizona, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related arbitration claim, which settled on October 19, 2016 for $25,000.00 in damages based upon allegations that in 2014, Berg overconcentrated the customer’s assets in oil and gas equities that were […]

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Cetera Advisors FINRA Securities Arbitration Alleging Fraud

George Craig Merhoff Jr., a stockbroker currently registered with Cetera Advisors LLC, has been named in a customer initiated investment related arbitration claim on July 14, 2016, which is based upon allegations that Merhoff committed violations of securities laws in the State of Oregon, breached his fiduciary and contractual duties to the customer, effected unsuitable […]

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Merrill Lynch Named In Securities Fraud Arbitration

Lisa Ann Wolf, of Chicago, Illinois, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related arbitration claim, which settled on April 10, 2015 for $150,000.00 in damages based upon allegations that from July of 2008 to June of 2014, Wolf made misrepresentations and […]

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Merrill Lynch Named In FINRA Securities Arbitration

Jacquin P. Fink, a stockbroker currently registered with Merrill Lynch, Pierce, Fenner & Smith, has been named in a customer initiated investment related written complaint on October 13, 2016, in which the customer requested $300,000.00 in damages based upon allegations that between October 2015 and October 2016, Fink made unsuitable equity investment recommendations to the […]

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Cetera Advisors’ Tagge Tagged In FINRA Securities Arbitration

January 26, 2017  |   Posted by :   |   Promissory Notes, Stockbroker Fraud News   |   0 Comments

Gerald Tagge, of Omaha, Nebraska, a stockbroker currently registered with Cetera Advisors LLC, has been named or tagged in a customer initiated investment related written complaint on September 30, 2015, in which the customer requested $125,000.00 in damages based upon allegations that Tagge solicited and ultimately accepted promissory notes from the customer outside the auspices […]

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Morgan Stanley Named In FINRA Securities Arbitration

January 26, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Charles Alan Correal, of Pittsburgh, Pennsylvania, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim on February 29, 2016, in which the customer requested $180,000.00 in damages based upon allegations that between 2008 to 2016, Correal effected unsuitable transactions in the customer’s account pertaining […]

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LPL Financial Slammed with Customer Arbitration

January 26, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Susan Clayton Moore, of Alexander City, Alabama, a stockbroker currently registered with LPL Financial LLC, has been named in a customer initiated investment related arbitration claim, which settled on March 17, 2016, for $85,000.00 in damages based upon allegations that from 2008 to 2015, Moore effected unsuitable exchange traded funds and real estate investment trust […]

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National Securities Named In Another Customer Securities Arbitration

January 26, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Jason Wilk, of New York, New York, a stockbroker formerly registered with National Securities Corporation, has been named in a customer initiated investment related complaint, which settled on September 7, 2016 for $15,000.00 based upon allegations that Wilk effected unsuitable over-the-counter equities transactions in the customer’s account. On the same day, another customer initiated investment […]

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JP Turner & Company Named In FINRA Securities Arbitration

Daniel Cleophas Alcide, of Red Bank, New Jersey, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been named in a customer initiated investment related written complaint on December 3, 2015, in which the customer requested $150,000.00 in damages based upon allegations that Alcide engaged in high pressure sales tactics, made misrepresentations concerning […]

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Oppenheimer & Company Accused of Fraud

January 25, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Gregg D. Templeton, of New York, New York, a stockbroker formerly registered with Oppenheimer & Co. Inc., was named in a customer initiated investment related arbitration claim on December 20, 2016, which settled for $562,500.00 in damages based upon allegations that from July 1, 2010 to March 31, 2015, Templeton misappropriated the customer’s funds, effected […]

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Spartan Capital Securities Named In Customer Securities Arbitration Complaint

Barry Jin, of New York, New York, a stockbroker formerly registered with Spartan Capital Securities, LLC, has been named in a customer initiated investment related written complaint on September 5, 2016, in which the customer requested $13,422.00 in damages based upon allegations that Jin effected options trades in the customer’s account without authorization. Financial Industry […]

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JD Nicholas Brokers Charged with Fraud

January 19, 2017  |   Posted by :   |   Boilerroom, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Donald J. Fowler, of Massapequa, New York, and Gregory T. Dean, of Seaford, New York, both of whom are stockbrokers formerly registered with J.D. Nicholas & Associates, Inc., have been charged by the Securities and Exchange Commission (SEC) in a Complaint alleging that Fowler and Dean excessively traded and fraudulently churned customer accounts, and effected […]

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UBS Financial Services Stockbroker Barred For Outside Business Activity

January 19, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Victor Lee, of New York, New York, a stockbroker formerly registered with UBS Financial Services Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in an outside business activity which was not authorized by his firm, and falsified […]

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Edward Jones Stockbroker Suspended For Unauthorized Trading

January 19, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Cormean Thomas, of Houston, Texas, a stockbroker formerly registered with Edward Jones, was fined $15,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized trades in customer accounts, failed to notify his firm regarding customer complaints, and made […]

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PHX Financial Named In Customer Arbitration Alleging Sales Practice Violations

January 19, 2017  |   Posted by :   |   Boilerroom, Stockbroker Fraud News   |   0 Comments

Salomon David Krispeal, of Hauppauge, New York, a stockbroker formerly registered with John Thomas Financial, has been named in a customer initiated investment related arbitration claim, which settled on December 11, 2015. The claim was based upon allegations that Krispeal engaged in sales practice violations in the accounts of two customers. Krispeal was fined $2,500.00 […]

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Financial West Group Stockbroker Charged With Unsuitable Recommendations

January 19, 2017  |   Posted by :   |   Churning, Stockbroker Fraud News   |   0 Comments

Kelly Clayton Althar, of San Francisco, California, a stockbroker formerly registered with Financial West Group, has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Althar effected trades in a customer’s account on an excessive basis and made unsuitable investment recommendations to the customer. Department of Enforcement v. Kelly Clayton Althar, […]

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LaSalle Street Securities Stockbroker Barred In Investigation

January 19, 2017  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Thomas E. Stamborski, of Palatine, Illinois, a stockbroker formerly registered with LaSalle Street Securities, L.L.C., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Stamborski’s consent to findings that he failed to cooperate with a FINRA investigation into allegations that he engaged in unauthorized outside […]

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UBS Financial Services FINRA Securities Arbitration Alleging Unauthorized Trading

Bradley Joseph Ross, of Fort Lauderdale, Florida, a stockbroker with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim on May 19, 2016, in which the customer requested $99,000.00 in damages based upon allegations that Ross effected unauthorized trades and overconcentrated the customer’s assets in exchange traded funds, mutual […]

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Summit Brokerage Services Named In FINRA Arbitration

James Michael Noto, of Trinity, Florida, a stockbroker currently registered with Summit Brokerage Services, Inc., has been named in a customer initiated investment related arbitration claim, which settled on August 3, 2016 for $25,000.00 in damages. The customer’s claim was based upon allegations that Noto effected an unsuitable variable annuity contract. FINRA Public Disclosure reveals […]

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JD Nicholas Named In FINRA Securities Arbitration

Nicholas George Tsikitas, a stockbroker formerly registered with J.D. Nicholas & Associates, Inc., has been named in a customer initiated investment related arbitration claim, which settled on July 20, 2016 for $181,108.00 in damages. The claim was based upon allegations that Tsikitas overconcentrated the customers’ assets, churned the customer’s accounts, negligently managed the customers’ investments, […]

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Mid Atlantic Capital Corporation Named In Customer Securities Fraud Claim

Craig Lansing Hayward, of Lafayette, Colorado, a stockbroker currently registered with Mid Atlantic Capital Corporation, has been named in a customer initiated investment related arbitration claim on April 11, 2016, in which the customer requested $707,500.00 in damages based upon allegations that between 2007 and 2014, Hayward negligently handled the customer’s account, breached his fiduciary […]

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Chapin Davis Stockbroker Terminated For Misconduct

January 19, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Charles Louis Laubach, of Baltimore, Maryland, a stockbroker formerly registered with Chapin David Investments, has been terminated from employment on March 18, 2016, based upon allegations that he did not follow his firm’s supervisory protocols and mismarked investment transaction tickets. This is not the first time that Laubach has been terminated by a brokerage firm […]

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Craft Capital Management Named In Customer Complaint

Steven Joel Shmulewitz, of Garden City, New York, a stockbroker with Craft Capital Management LLC, has been named in a customer initiated investment related complaint, which settled for December 21, 2016 for $30,000.00 in damages. The customer’s complaint was based upon allegations that Shmulewitz failed to execute the customer’s October 2016 stop loss orders pertaining […]

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Morgan Stanley Smith Barney Named In Customer Churning Claim

January 19, 2017  |   Posted by :   |   Churning, Exchange Traded Funds, Stockbroker Fraud News   |   0 Comments

Christopher J. Cowans, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim on December 11, 2015, in which the customer has requested $600,000.00 in damages based upon allegations that between March of 2011 and December of 2013, Cowans effected excessive transactions in the customer’s […]

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Oppenheimer Named In Customer Securities Arbitrations Involving Selling Away

Zahir Walji, of Austin, Texas, a stockbroker formerly registered Oppenheimer & Co. Inc., was named in two customer initiated investment related arbitration claims between June 6, 2010, and June 10, 2016, in which the customers collectively requested $1,640,000.00 in damages based upon allegations that Walji was liable to customers who had not received repayment of […]

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LPL Financial Stockbroker Barred For Obstructing Investigation

January 19, 2017  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Brian David Smit, of Sioux Falls, South Dakota, a stockbroker formerly registered with LPL Financial LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he failed to cooperate in a FINRA investigation into allegations that Smit took part in private […]

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Broker Dealer Financial Services Corp Named In Securities Fraud Complaint

Mitchel Allan Foote, of Manhattan, Kansas, a stockbroker formerly registered with Broker Dealer Financial Services Corp., was named in a customer initiated investment related written complaint on May 12, 2014, in which the customer requested $30,000.00 in damages based upon allegations that Foote misrepresented an illiquid real estate security investment to a customer. FINRA Public […]

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Berthel Fisher Named In Customer Suitability Complaint

January 19, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Andrew W. Topka, of Charleston, South Carolina, a stockbroker formerly registered with Berthel, Fisher & Company Financial Services, Inc. has been named in a customer initiated investment related written complaint, based upon allegations that Topka effected unsuitable investment recommendations in the customer’s account pertaining to limited partnership interests, oil and gas investments, and real estate […]

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Aegis Capital Named In Customer Securities Arbitration

Cory David Bataan, of Melville, New York, a stockbroker currently registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim, which settled on August 25, 2015 for $25,000.00 in damages based upon allegations that Bataan made unsuitable investment recommendations concerning over-the-counter equities and generated commissions and fees which were […]

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Merrill Lynch Named In Customer Securities Arbitration

January 19, 2017  |   Posted by :   |   Stockbroker Fraud News, Structured Notes   |   0 Comments

Thomas Alan Braley, of Saginaw, Michigan, a stockbroker and financial advisor formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related arbitration claim which settled on December 2, 2016 for $75,000.00 in damages. The customer’s claim was based upon allegations that between January of 2013 and […]

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Silver Oak Securities Named In Customer Complaint

January 19, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

John Bernard Steffen, of Florence, Kentucky, an insurance broker formerly registered with Silver Oak Securities, Inc., has been named in a customer initiated written complaint on June 23, 2016, in which the customer requested $285,000.00 in damages based upon allegations that Steffen churned the customer’s account, breached his fiduciary duty, and effected unsuitable variable annuity […]

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Woodbury Financial Services Stockbroker Terminated For Outside Business Activities

January 19, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

David Albert Ross, of Murfreesboro, Tennessee, a stockbroker registered with Woodbury Financial Services, was terminated from employment on April 15, 2016, based upon allegations that Ross, inter alia, effected unauthorized loan arrangements with the firm’s customers and engaged in an outside business activity that was not authorized by Woodbury Financial Services. FINRA Public Disclosure reveals […]

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Moorestown Stockbroker Arrested For Theft

January 19, 2017  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Brian Patrick Murphy a registered representative associated with Signator Investors from July 2015 through July 2016, and with MetLife Securities, Inc. from December 2006 through December 2014, conducting business under the name “Murphy Financial Advisors” in Moorestown, New Jersey, was arrested January 13, 2017 and was charged with stealing $890,000 from a customer thought he […]

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Alexander Capital Named In Customer Securities Arbitration

January 13, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Jason Vincent Mediate, of Staten Island, New York, a stockbroker formerly registered with Alexander Capital, L.P., has been named in a customer initiated investment related arbitration claim, which settled on November 17, 2015 for $112,500.00 in damages based upon allegations that Mediate effected transactions in the customer’s investment account without proper authorization. FINRA Public Disclosure […]

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National Securities Corporation Stockbroker Investigated For Private Securities Transactions

January 13, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Kyle Patrick Harrington, of San Diego, California, a stockbroker formerly registered with National Securities Corporation, has become the subject of a Financial Industry Regulatory Authority (FINRA) investigation, which focuses on allegations that Harrington possibly engaged in private securities transactions, converted customer funds, and failed to cooperate with FINRA regarding allegations of his misconduct. FINRA Matter […]

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Morgan Stanley Stockbroker Terminated For Alleged Outside Business Activities

January 13, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Michael A. Pellegrino Jr., of Red Bank, New Jersey, a stockbroker formerly registered with Morgan Stanley, was terminated from employment on December 2, 2016, based upon allegations that Pellegrino conducted communications with an individual which the firm prohibited business to be conducted with. The firm further alleged that Pellegrino provided a party with advice on […]

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Arvest Wealth Management Stockbroker Suspended For Failure to Pay Arbitration Award

January 13, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Joe Don Treece, of Bentonville, Arkansas, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) in any capacity based upon allegations that Treece failed to provide a response to a FINRA investigatory request, or otherwise comply with a settlement agreement or an arbitration award. Case No. 12-00453 (Dec. 1, 2016). FINRA Public […]

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Pruco Securities Stockbroker Terminated For Outside Business Activities

January 13, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Marc Ang, of Sherman Oaks, California, a stockbroker formerly registered with Pruco Securities, LLC, has been terminated from employment on November 23, 2016, based upon allegations that Ang, inter alia, engaged in outside business activities which were not approved by Pruco Securities, utilized a business name and advertising mechanism which was not authorized, and established […]

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Waddell & Reed Stockbroker Terminated For Selling Away

January 13, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Carlos Velazquez, of Elgin, Illinois, a stockbroker associated with Waddell & Reed, has been terminated from employment on December 1, 2016, based upon allegations that Velazquez admitted to falsifying statements to the firm’s personnel concerning the purpose of an outside business activity which Velazquez was involved in. Who knows what this means, as it could […]

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National Securities Corporation Named In Securities Arbitration

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

Matthew Fleissner, of New York, New York, a stockbroker currently registered with National Securities Corporation, has been named in a customer complaint on July 8, 2015, in which the customer requested damages based upon allegations that Fleissner effected trades in the customer’s account despite lacking proper authorization. FINRA Public Disclosure also reveals that on September […]

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Ameriprise Financial Services Stockbroker Terminated For Unauthorized Trading

Mark Nicholas Wesley, of Independence, Ohio, a stockbroker with Ameriprise Financial Services, Inc., was permitted to resign by the firm on June 17, 2016, based upon allegations that Wesley, inter alia, effected authorized trades in in customer accounts, and utilized discretion in accounts without firm approval. FINRA Public Disclosure reveals that Wesley has been named […]

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Morgan Stanley Named In Customer Securities Arbitration

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

Victor Eugene Lambert III, of Melville, New York, a stockbroker formerly registered with Morgan Stanley, was named in a written customer complaint, which settled on April 7, 2016 for $85,000.00 in damages based upon allegations that Lambert effected unsuitable equity transactions in the customer’s investment account. FINRA Public Disclosure reveals that Lambert has been identified […]

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Lincoln Financial Securities Named In Securities Arbitration

January 13, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Alan Joseph Thomilson, of Edwardsville, Illinois, a stockbroker currently registered with Lincoln Financial Securities Corporation, has been named in a customer initiated investment arbitration claim which settled on October 24, 2016 for $75,000.00 in damages, based upon allegations that Thomilson made misrepresentations and unsuitable recommendations to the customer regarding the replacement of the customer’s existing […]

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Centaurus Financial Named In Customer Securities Arbitration

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

Troy Nicholas Tremblay, of Des Moines, Iowa, a stockbroker currently registered with Centaurus Financial, Inc., has been named in a customer initiated investment related arbitration claim on May 14, 2014, in which the customer requested $932,810.00 in damages based upon allegations of negligence regarding tenant in common investments, breach of contractual and fiduciary duties, fraud, […]

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Ameriprise Financial Services Stockbroker Investigated For Misrepresentation

January 13, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Kim Dee Isaacson, of Midvale, Utah, a stockbroker currently registered with Ameriprise Financial Services, Inc., has been named in a Financial Industry Regulatory Authority (FINRA) investigation on April 8, 2016, which focuses on allegations that Isaacson made misrepresentations to a customer concerning the customer’s investment performance and account details. FINRA Public Disclosure reveals that Isaacson […]

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JP Turner And Company LLC Named In Customer Securities Arbitration

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

Michael Laurence DiGaetano, of Lewiston, New York, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been named in a customer initiated investment related arbitration claim in which the customer has requested $725,000.00 in damages based upon allegations that DiGaetano breached his fiduciary and contractual obligations to the customer, negligently handled the customer’s […]

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McClintock Former Employer Named in Securities Arbitration

Caeron Arlington McClintock, of New York, New York, a broker formerly registered with EJ Sterling, has been named in a customer initiated investment related arbitration claim on November 22, 2016, in which the customer has requested $135,593.00 in damages based upon allegations that McClintock breached his fiduciary and contractual duties to the customer, churned the […]

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Centaurus Financial Named In Customer Securities Arbitration

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

David Bruce White, of Bloomfield Hills, Michigan, a stockbroker currently registered with Centaurus Financial, Inc., has been named in a customer initiated investment related arbitration claim on July 27, 2016, in which the customer requested $75,000.00 in damages based upon allegation that White’s recommendations in limited partnership interests and direct participation programs caused the customer […]

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Transamerica Financial Advisors Stockbroker Fined For Unsuitable Recommendations

January 13, 2017  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Gary Saitowitz, of Atlanta, Georgia, a stockbroker formerly registered with Transamerica Financial Advisors, Inc., has been fined $10,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member based upon consenting to findings that Saitowitz, inter alia, made unsuitable investment recommendations, participated in a private securities transaction, and misstated customer […]

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UBS Financial Services Stockbroker Fined For Unauthorized Trading

January 13, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Alfred William Valz, of Manasquan, New Jersey, a stockbroker formerly registered with UBS Financial Services Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon consenting to findings that Valz placed unauthorized trades in the accounts of customers. Letter of Acceptance, Waiver […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

January 13, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

James Carolan Speno, of New York, New York, a stockbroker formerly registered with Morgan Stanley, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon consenting to findings that Spendo effected transactions in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, […]

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LPL Financial Fails To Send Suitability Notifications To Customers

January 13, 2017  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

LPL Financial, LLC, headquartered in Boston, Massachusetts, was censured and fined $900,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to distribute account notices containing customer suitability information. Letter of Acceptance, Waiver and Consent, No. 2015045887301 (Dec. 21, 2016). According to the AWC, between 2009 and 2016, the […]

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Regal Securities Fails To Supervise Outside Business Activities

January 13, 2017  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Regal Securities, a broker-dealer headquartered in Glenview, Illinois, has been censured and fined $25,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to supervise the evaluation and authorization of outside business activities. Letter of Acceptance, Waiver and Consent, No. 2015043657202 (Dec. 21, 2016). According to the AWC, in […]

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Principal Securities Fined For Failure To Supervise

January 13, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Principal Securities Inc., headquartered in Des Moines, Iowa, has been censured and fined $125,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to create and implement adequate supervision systems pertaining to consolidated reports. Letter of Acceptance, Waiver and Consent, No. 2015043589501 (Dec. 21, 2016). According to the AWC, […]

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Morgan Stanley Fined For Violation Of Customer Protection Rule

January 13, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Morgan Stanley & Co. LLC, a broker-dealer headquartered in New York, New York, has been censured and fined $2,750,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to create and preserve adequate procedures and systems geared to ensure that customers’ margin securities would be properly controlled and held […]

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Ross Sinclaire Fined For Failure To Supervise Private Placements

January 13, 2017  |   Posted by :   |   Private Placement Fraud, Stockbroker Fraud News   |   0 Comments

Ross, Sinclaire & Associates, LLC, a broker-dealer headquartered in Cincinnati, Ohio, was censured and fined $214,545.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm, inter alia: made material omissions regarding municipal offerings; failed to conduct adequate due diligence; and failed to supervise investment offerings. Letter of Acceptance, Waiver and […]

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Wells Fargo Advisors Stockbroker Suspended For Outside Business Activities

January 12, 2017  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Mark H. Botsford, of Alexandria, Virginia, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon consenting to findings that he engaged in outside business activities which were not approved by Wells Fargo. Letter of Acceptance, Waiver […]

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Morgan Stanley Censured For Failure To Supervise Investment Objective Changes

January 12, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

The tail wagging the dog.  Broker sell you unsuitable investments, no problem.  We will just secretly change your investment objectives. Morgan Stanley Smith Barney, a broker-dealer headquartered in Purchase, New York, has been censured and fined $1,500,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to set forth […]

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The GMS Group Named In FINRA Securities Arbitration Alleging Fraud

January 05, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

William Martin Ornstein, of Boca Raton, Florida, a stockbroker currently registered with The GMS Group, LLC, has been named in a customer initiated investment related arbitration claim on November 24, 2015, in which the customer requested $200,000.00 in damages based upon allegations that Ornstein partook in sales practices that were fraudulent. The customer additionally alleged […]

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Morgan Stanley Stockbroker Terminated For Selling Away

January 05, 2017  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Jaime Hazael Aguilar, of San Diego, California, a stockbroker previously registered with Morgan Stanley Smith Barney, LLC, has been fired by his firm on May 10, 2016, based upon allegations that Aguilar was involved with a customer in pursuing a financial transaction outside the auspices of Morgan Stanley. FINRA Public Disclosure reveals that Aguilar has […]

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Investors Capital Corp Named In FINRA Securities Arbitration

January 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Kenneth John Saunders, of Coral Springs, Florida, a stockbroker formerly registered with Investors Capital Corp., has been named in a customer initiated investment related arbitration action on March 11, 2016, in which the customer requested $150,000.00 in damages based upon allegations that Saunders made misrepresentations to the customer concerning investments, and effected unsuitable investments in […]

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Transamerica Financial Advisors Named In FINRA Securities Arbitration

January 05, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

William Dean Byrd, of Tampa, Florida, a stockbroker formerly registered with Transamerica Financial Advisors, Inc., was named in a customer initiated investment related arbitration claim on June 2, 2016, which settled for $42,500.00 in damages based upon allegations that Byrd breached his fiduciary obligations to the customer, made misrepresentations concerning investments, and made investment recommendations […]

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Oppenheimer Stockbroker Suspended For Hefty Unpaid Loans From Customers

January 05, 2017  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Matthew J. Giannone, of Melville, New York, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he entered into an unauthorized loan arrangement. Letter of Acceptance, Waiver and Consent, No. […]

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Voya Financial Advisors Stockbroker Barred In Investigation

January 05, 2017  |   Posted by :   |   Churning, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Rodger James Burskey, of Commerce Township, Michigan, a stockbroker formerly registered with Voya Financial Advisors, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon consenting to findings that he failed to cooperate with FINRA in its investigation into allegations that Burskey made unsuitable […]

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Source Capital Group Charged With Sale of Unregistered Securities

January 05, 2017  |   Posted by :   |   Private Placement Fraud, Stockbroker Fraud News   |   0 Comments

Source Capital Group, Inc., a broker-dealer headquartered in Westport, Connecticut, has been charged by Financial Industry Regulatory Authority Department of Enforcement in a Complaint alleging that the firm, inter alia, failed to disclose to investors certain material facts concerning interests in limited partnerships. Department of Enforcement v. Source Capital Group, Inc., No. 2014038889501 (Dec. 23, […]

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First Financial Equity Corporation Fined For Failure To Supervise

January 05, 2017  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

First Financial Equity Corporation, headquartered in Scottsdale, Arizona, was censured and fined $230,000.00 by Financial Industry Regulatory Authority (FINRA) Department of Enforcement according to an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that the firm failed to supervise key aspects of the firm’s operations, which included the commissions charged by the […]

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ACAP Financial Stockbrokers Sanctioned For Sale of Unregistered Securities

Kirk Lynn Ferguson, of Salt Lake City, Utah, president and chief compliance officer of ACAP Financial, and Gary Hume, of Salt Lake City, Utah, compliance officer of ACAP Financial, have been sanctioned by Financial Industry Regulatory Authority (FINRA) according to an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Ferguson and […]

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Oppenheimer Stockbroker Terminated For Unauthorized Trading

January 05, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Guy Bernard Deemer, of Sewickley, Pennsylvania, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been terminated by his firm on September 1, 2015, based upon allegations that Deemer did not abide by Oppenheimer’s policies which pertained to the way customers would be charged for services. FINRA Public Disclosure reveals that Deemer has been […]

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Laidlaw Named In FINRA Securities Arbitration

January 05, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Robert Nicholas Rotunno, of New York, New York, a stockbroker formerly registered with Laidlaw & Company (UK) Ltd., has been named in a customer initiated investment related arbitration claim involving Rotunno’s conduct on July 1, 2016, in which the customer requested $20,000.00 in damages based upon allegations that Rotunno effected transactions that were not suitable […]

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ProEquities Named In FINRA Arbitration Alleging Unsuitability

Raymond Willis Harrison, a stockbroker formerly associated with ProEquities, Inc. has been named in a customer initiated investment related arbitration claim on October 12, 2016, in which the customer has requested $603,000.00 in damages based upon allegations that Harrison made omissions to the customer concerning investments, did not conduct a reasonable level of due diligence […]

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Ameriprise Financial Services Stockbroker Terminated For Selling Away

January 05, 2017  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Adam J. Ausloos, of Brookfield, Wisconsin, was terminated by his employer, Ameriprise Financial Services, Inc., based upon allegations that Ausloos engaged in conduct concerning private placement transactions and outside business activities which ran afoul of the company’s polices. FINRA Public Disclosure reveals that Ausloos was named in a customer initiated investment related arbitration claim on […]

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Ameriprise Financial Services Stockbroker Barred For Fraud

January 05, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Paul Ricky Mata, of Rancho Cucamonga, California, was barred by the Securities and Exchange Commission (SEC) from working as an investment advisor or broker, or associating with brokerage firms selling customers’ securities or advising customers, according to an SEC Order enjoining Mata’s future acts of fraud in violation of Securities Exchange Act of 1934 Section […]

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LPL Financial Stockbroker Terminated For Customer Loans

January 05, 2017  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Vincent Paul Sturm, of Perry, Iowa, a stockbroker formerly registered with LPL Financial LLC, was terminated by the firm and VisionPoint Advisory Group, LLC on August 26, 2016, based upon allegations that Sturm solicited loans from customers in violation of his firms’ policies. Since September 7, 2016, Sturm has been registered with Berthel, Fisher & […]

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National Securities Corporation Named In Customer Arbitration

January 05, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Wayde Christian Carter Walker, of New York, New York, a stockbroker currently registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim on December 28, 2015, in which the customer requested $513,218.40 in damages based upon allegations that Walker made misrepresentations to the customer concerning investments, breached his fiduciary […]

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First Financial Equity Corporation Stockbroker Terminated For Forgery

January 05, 2017  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

Mark Christopher Quale, a stockbroker formerly registered with First Financial Equity Corporation, was terminated by his firm on March 31, 2016, based upon allegations that Quale furnished documents to First Financial Equity Corporation containing customer signatures which were not genuine. FINRA Public Disclosure reveals that Quale has been named in four customer arbitrations concerning allegations […]

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Raymond James Financial Services Stockbroker Terminated For Selling Away

January 05, 2017  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Michael Murphy Hurtgen, of Greenwood Village, a stockbroker formerly registered with Raymond James Financial Services, Inc., was terminated by his firm and affiliate Raymond James Financial Services Advisors, Inc. on February 23, 2016, based upon allegations that he solicited investors’ interest in a private placement. The firm indicated that the private placement was connected to […]

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BOSC Stockbroker Terminated For Forgery

January 05, 2017  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

John Jacob Avey, a stockbroker from Denver, Colorado, was terminated by employer Bosc, Inc. on January 15, 2016, based upon allegations that Avey admitted to the firm that a document which Avey provided in connection with a customer’s investment account contained signatures which were not authentic. FINRA Public Disclosure reveals that Avey has been named […]

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Merrill Lynch Stockbroker Terminated For Unauthorized Trading

January 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Brooke Ashley Clements, of Greenwood Village, Colorado, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, was terminated by the firm on May 1, 2015, based upon allegations that Clements effected transactions in customer accounts on a discretionary basis, when the firm did not authorize time and place based discretion to be […]

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Citigroup Global Markets Stockbroker Terminated For Altering of Customer Information

January 05, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

John Mark Gregory, of New York, New York, was terminated from Citigroup Global Markets Inc. on March 12, 2015, based upon allegations that Gregory had customers sign blank documents which Gregory then completed without the customer’s involvement. Gregory was also alleged to have altered the data contained on forms that he had utilized previously for […]

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Pruco Securities Stockbroker Terminated For Alleged Forgery

January 05, 2017  |   Posted by :   |   Forgery, Stockbroker Fraud News   |   0 Comments

Matthew James Streckenbach, of Appleton, Wisconsin, has been terminated from Pruco Securities, LLC on April 26, 2016, based upon allegations that Streckenbach submitted forms to his firm which contained forged customer signatures. The company alleged that Streckenbach provided applications to Pruco Securities, LLC, for purchases of life insurance policies containing unauthentic applicant signatures. Since May […]

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Merrill Lynch Stockbroker Terminated From Employment For Unauthorized Trading

January 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Achilleas Psihudakis, of Bayside, New York, was terminated by his employer, Merrill Lynch, Pierce, Fenner & Smith Incorporated on April 16, 2015, based upon allegations that Psihudakis utilized discretion in customer accounts, which was conduct that his broker prohibited. FINRA Public Disclosure reveals that on August 15, 2016, Psihudakis’ securities registration with Maryland Securities Commissioner […]

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United Planners Financial Services Of America Stockbroker Terminated

January 05, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Eric Wayne Harding, of Scottsdale, Arizona, has been terminated from employment with United Planners Financial Services of America on October 6, 2016, based upon allegations that Harding had failed to abide by the policies of the firm concerning repayment of monies that were owed to the firm. This is not the first time that Harding’s […]

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Wells Fargo Stockbroker Terminated After Investigation Into Misconduct

January 05, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

David Kenneth Rubenstein, of Farmington Hills, Michigan, a stockbroker formerly registered with Wells Fargo Advisors, LLC, was terminated from employment on April 11, 2016, based upon allegations pertaining to misconduct committed at his prior firm, Ameriprise Financial Services, Inc. FINRA Public Disclosure reveals that Rubenstein’s registration was terminated from Ameriprise Financial Services, Inc. on July […]

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LPL Financial LLC Stockbroker Investigated For Suitability Violations

January 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Steve Dale Health, of Newport News, Virginia, a stockbroker formerly registered with Capital Securities Management, Inc., is currently the subject of a Financial Industry Regulatory Authority (FINRA) investigation which was launched on November 11, 2016, and focuses on allegations that Heath may have traded in customer accounts on a discretionary basis, and effected or recommended […]

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Maxim Group Stockbroker Terminated For Misrepresentation

Rodney Bahy Ibrahim, of New York, New York, a stockbroker formerly registered with Maxim Group, LLC, was terminated from the company on June 23, 2015, based upon allegations that he made misrepresentations to a customer following a wire transfer request. FINRA Public Disclosure reveals that on December 9, 2009, Ibrahim was named in a customer […]

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Legend Equities Named In FINRA Customer Securities Arbitration

Walter Joseph Marino, of Hauppauge, New York, a stockbroker formerly registered with Legend Equities Corporation, has been named in four customer initiated investment related arbitration actions between March 14, 2016, and July 18, 2016, in which the customers have collectively requested $433,101.00 in damages based upon allegations that Marino excessively charged the customers with commissions […]

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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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Spartan Capital Securities Named In FINRA Securities Arbitration

January 03, 2017  |   Posted by :   |   Churning, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Dean John Kajouras, of New York, New York, a stockbroker with Fordham Financial Management, Inc., has been named in a customer initiated investment related arbitration claim on March 7, 2016, in which the customer requested $115,414.22 in damages based upon allegations that Kajouras made misrepresentations to the customer concerning investments, breached his contractual obligations, effected […]

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Raymond James Broker Named In Customer Theft Arbitration

Joel Nathan Burstein, of Coral Gables, Florida, a stockbroker currently registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related arbitration claim or civil action on March 5, 2016, in which the customer requested $200,000,000.00 in damages based upon allegations including fraud, theft, misappropriation of customer funds, conspiracy to […]

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Woodstock Financial Group Named In Customer Securities Arbitration

January 03, 2017  |   Posted by :   |   Churning, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Marc Neil Kalter, of Garden City, New York, a stockbroker formerly registered with Woodstock Financial Group, has been named in a customer initiated investment related arbitration claim on March 21, 2016, in which the customer requested $182,000.00 in damages based upon allegations that Kalter breached his fiduciary duty to the customer, excessively traded and churned […]

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Ameriprise Financial Services Named In FINRA Customer Securities

January 03, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Rabinder Deshmukh, of Miami, Florida, a stockbroker with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related arbitration claim from March 18, 2016, in which customers requested $9,000,000.00 in damages based upon allegations that Deshmukh made unsuitable investment recommendations to the customer, which included overconcentrating the customers’ assets in risky investments. […]

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Allegis Investments Services Named In FINRA Arbitration

January 03, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Peter Gerhard Klaass, of South Jordan, Utah, a stockbroker currently registered with Allegis Investment Services, LLC, has been named in a customer initiated investment related arbitration claim on June 27, 2016, in which the customer requested $400,000.00 in damages based upon allegations that Klaass negligently handled the customer’s account concerning options investments, which caused the […]

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Ameriprise Financial Services Named In Customer Securities Arbitration

January 03, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Cary Jarrett Kievman, of Westlake Village, California, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on August 4, 2016, in which the customer alleged that from 2013 through 2016, Kievman made unsuitable investment recommendations concerning short term equity investments, and overconcentrated the customer’s […]

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Wells Fargo Advisors Fined For Failure to Supervise

January 03, 2017  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Wells Fargo Advisors, LLC, and Wells Fargo Advisors Financial Network, LLC, both headquartered in Saint Louis, Missouri, have been censured and fined $1,000,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firms failed to supervise consolidated reports that were disseminated to customers concerning outside assets. Letter of Acceptance, Waiver and […]

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LaSalle Street Securities Stockbroker Barred For Selling Away

January 03, 2017  |   Posted by :   |   Securities Fraud, Selling away, Stockbroker Fraud News   |   0 Comments

Joel Martin Weiner, of Boyton Beach, Florida, a stockbroker formerly associated with LaSalle Street Securities L.L.C., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in unauthorized outside business activities. Letter of Acceptance, Waiver and Consent, No. 2015044783402 (Dec. […]

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Coastal Equities Stockbroker Suspended For Unauthorized Trading

Frank J. Bodi, of Atlanta, Georgia, a stockbroker formerly registered with Coastal Equities, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2014041310601 (Dec. […]

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Caprock President Fined For Supervisory Failures

January 03, 2017  |   Posted by :   |   Closed End Funds, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Daryl Eugene Allison, of Lubbock, Texas, a stockbroker and former president of Caprock Securities, Inc., has been fined $10,000.00 and fined from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity based upon consenting to findings that, inter alia, Allison failed to supervise registered representatives’ closed end fund sales to customers. […]

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Texas E&P Partners President Barred For Misappropriation

Texas E&P Partners, a Texas based broker-dealer formerly known as Chestnut Exploration Partners, Inc., has been expelled from Financial Industry Regulatory Authority (FINRA) membership, and the firm’s president, Mark A. Plummer, has been barred from associating with any FINRA member in any capacity according to a FINRA Office of Hearing Officers Extended Hearing Panel Decision […]

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World Equity Group Stockbroker Suspended For Annuity Fraud

January 03, 2017  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Suzanne Hagmeyer, of Naperville, Illinois, a former stockbroker with World Equity Group, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that she made misstatements to customers concerning variable annuity transactions. Letter of Acceptance, Waiver and Consent, No. 2013036907001 (Dec. […]

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LPL Financial Stockbroker Suspended For Unsuitable Recommendations

January 03, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Scott F. Goldman, of Arlington Heights, Illinois, a stockbroker formerly associated with LPL Financial LLC, was fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon consenting to findings that he made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and Consent, No. 2013036819901 […]

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First Independent Financial Services Principal Suspended For Failure to Supervise

January 03, 2017  |   Posted by :   |   Annuity Schemes, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Phillip Howard Palmer, of Tulsa, Oklahoma, a stockbroker and principal formerly registered with First Independent Financial Services, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Palmer, inter alia, failed to supervise variable annuity withdrawal transactions. Letter of Acceptance, […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

Robert Steven Beck, of Jenkintown, Pennsylvania, a stockbroker formerly registered with Morgan Stanley, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected discretionary trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No. 2014042560001 (Dec. […]

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Pruco Securities Stockbroker Suspended For Customer Loans

Richard Edwin Seidel, of Wyomissing, Pennsylvania, a stockbroker formerly registered with Pruco Securities, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in an unauthorized borrowing arrangement with a firm customer. Letter of Acceptance, Waiver and Consent, No. 2016050057401 […]

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Cetera Advisors Stockbroker Barred In Investigation

January 03, 2017  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Kenneth Alan Balser, of Colorado Springs, Colorado, a stockbroker formerly registered with Cetera Advisors, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into allegations of Balser’s participation in private securities transactions or […]

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Dougherty & Company Fined For Failure To Supervise

January 03, 2017  |   Posted by :   |   Elder Abuse, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Dougherty & Company LLC, headquartered in Minneapolis, Minnesota, has been censured and fined $140,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm failed to supervise a registered representative who effected unsuitable and unauthorized investment transactions. Letter of Acceptance, Waiver and Consent, No. 2015047008701 (Nov. 28, 2016). According to the […]

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Euro Pacific Capital Subject To Customer Arbitration Alleging Unsuitability

January 03, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Neeraj Roy Chaudhary, of El Segundo, California, a stockbroker with Euro Pacific Capital, Inc., has been subject to a customer initiated investment related arbitration claim in which the customer alleged that Chaudhary effected unsuitable investment transactions concerning private placements in the customer’s account. Guiliano Law Firm Our practice is limited to the representation of investors. […]

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Cambridge Investment Research Overcharges Mutual Funds Customers

December 24, 2016  |   Posted by :   |   Mutual Fund Fraud, Stockbroker Fraud News   |   0 Comments

Cambridge Investment Research, Inc., a broker-dealer headquartered in Fairfield, Iowa, has been censured by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm overcharged charitable organization and retirement account customers in connection with mutual funds transactions. Letter of Acceptance, Waiver and Consent, No. 2015046952401 (Dec. 17, 2016). According to the AWC, Cambridge […]

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Dougherty & Company Stockbroker Charged With Selling Away

December 24, 2016  |   Posted by :   |   Alternative Investments, Hedge Funds, Stockbroker Fraud News   |   0 Comments

Michael Timothy Dolan, of Minneapolis, Minnesota, a stockbroker currently registered with Dougherty & Company LLC, was charged by Financial Industry Regulatory Authority Department of Enforcement in a Complaint alleging that Dolan effected unauthorized private securities transactions. Department of Enforcement v. Dolan, No. 2013039306601 (Dec. 14, 2016). According to the Complaint, from October of 2010 to […]

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Popular Securities Stockbroker Suspended For Unauthorized Trading

December 24, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Manuel Mejia-Gomez, of San Juan, Puerto Rico, a stockbroker formerly associated with Popular Securities LLC, has been fined $15,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected transactions in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2015044285701 […]

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Allstate Financial Services Fined For Suitability Violations

December 24, 2016  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Allstate Financial Services, LLC, headquartered in Lincoln, Nebraska, has been censured and fined $1,000,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm, inter alia, had mass incomplete or missing accounts records concerning customer suitability. Letter of Acceptance, Waiver and Consent, No. 2015047806501 (Dec. 15, 2016). According to the AWC, between […]

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NYLife Securities Stockbroker Barred For Conversion

December 24, 2016  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Marc Donald Bushey, of Bridgewater, Massachusetts, a stockbroker formerly registered with NYLife Securities LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he converted customer funds. Letter of Acceptance, Waiver and Consent, No. 2016051803901 (Dec. 13, 2016). According to the AWC, […]

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Credit Suisse Securities Stockbroker Suspended For Unauthorized Trading

Kai Chen, of San Francisco, California, a stockbroker formerly registered with Credit Suisse Securities (USA) LLC, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) in any capacity after consenting to findings that he exercised discretion in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2013039280301 […]

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VSR Financial Services Named in Customer Arbitrations Alleging Unsuitability

December 24, 2016  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Robert Edward Wamhoff, from Saint Charles, Missouri, a stockbroker formerly registered with VSR Financial Services, Inc., has been subject to a customer initiated investment related arbitration claim from February 27, 2016, in which the customer alleged that Wamhoff effected unsuitable investments in the customer’s account. Two days prior, another customer filed an investment related arbitration […]

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VSR Financial Services Named In Customer Securities Arbitration

December 24, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Jesse Julian Griffin Jr., of Palm City, Florida, a stockbroker formerly associated with VSR Financial Services, Inc., has been subject to a customer initiated investment related arbitration action from June 19, 2015, which settled for $52,000.00 in damages based upon allegations that Griffin effected unsuitable transactions in the customers’ accounts. FINRA Public Disclosure reveals that […]

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VSR Financial Services Named in Customer Securities Fraud Arbitration

December 24, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Kevin Mark Nevin, of Saint Louis Park, Minnesota, a stockbroker formerly associated with VSR Financial Services, has been subject to a customer initiated investment related arbitration claim on September 30, 2016, in which the customer requested $50,000.00 in damages based upon allegations that Nevin breached his fiduciary and contractual relationship with the customer, effected unsuitable […]

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Brookstone Securities Named In Customer Securities Arbitration

December 24, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Richard Lyndon Brown, of Massapequa, New York, a stockbroker formerly associated with Brookstone Securities, Inc., has been subject to a customer initiated investment related arbitration claim from September 22, 2015, in which a customer was awarded $72,135.95 in damages based upon allegations that Brown breached his contractual and fiduciary duties to the customer, abused the […]

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VSR Financial Services Named In Customer Securities Arbitration

December 23, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Timothy Charles Hobbs, of Bedford, Texas, a stockbroker formerly registered with VSR Financial Services, Inc., has been subject to a customer initiated investment related arbitration action from February 3, 2014, in which the customer requested $82,500.00 in damages based upon allegations that Hobbs breached his fiduciary duty to the customer, and effected investment transactions in […]

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Next Financial Group Named In Customer Securities Fraud Arbitration

Eduardo Guillermo Diaz, of Biloxi, Mississippi, a former stockbroker formerly  registered with Next Financial Group, Inc., has been subject to a customer initiated investment related arbitration action in which the customer received $250,000.00 in damages based upon allegations that Diaz made misrepresentations to the customer concerning investments, failed to provide the customer with information concerning […]

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SII Investments Named in Barred Broker Annuity Scam

Thomas Paul Schober, of Westborough, Massachusetts, a former stockbroker who had been registered with SII Investments, Inc., has been subject to a customer initiated investment related arbitration claim on September 21, 2016, in which the customer requested $5,000.00 in damages based upon allegations that Schober effected unsuitable investment transactions in the customer’s account. FINRA Public […]

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LPL Financial Named in Customer Securities Arbitration

Brian Harris Brunhaver, of Snohomish, Washington, a stockbroker previously registered with LPL Financial LLC, and Pacific West Securities, Inc., has been subject to a customer initiated investment related arbitration claim from February 24, 2014, in which customers requested $637,100.00 in damages based upon allegations that Brunhaver effected unsuitable investments in real estate investments trusts within […]

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Toms River Stockbroker Sued For $1 million

December 23, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

George William Cole, of Toms River, New Jersey, a stockbroker currently registered with Next Financial Group, has been named in a customer initiated, investment related arbitration claim in which the customer requested $1,000,000.00 in damages based upon allegations that Cole provided customers with unsuitable investment recommendations which caused the customers to suffer substantial losses. The […]

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VSR Financial Services Named in Customer Securities Arbitration

December 23, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Robert Boris Hardcastle, of Chesterfield, Missouri, a stockbroker formerly registered with VSR Financial Services, has been nemed in a customer initiated investment related arbitration claim in which the customer requested $366,000.00 in damages based upon allegations that Hardcastle breached his fiduciary duty to the customers, made misrepresentations to the customers concerning investments, and effected unsuitable […]

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Windsor Street Capital Named In Customer Securities Arbitration

December 23, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Ibrahim Ethem Kurtulus, of New York, New York, a stockbroker currently registered with Windsor Street Capital, LP, has been subject to a customer initiated investment related arbitration claim on January 13, 2015, in which the customer requested $45,000.00 in damages based upon allegations that Kurtulus effected unsuitable investment transactions in the customer’s account. FINRA Public […]

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Woodstock Financial Group Named In Customer Securities Arbitration

December 23, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Peter M. Alomar, of Garden City, New York, a stockbroker formerly registered with Woodstock Financial Group, Inc., has been subject to a customer initiated investment related arbitration claim from January 28, 2016, in which the customer requested $293,924.00 in damages based upon allegations that Alomar effected unsuitable investment transactions in the customer’s account, and breached […]

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Hilltop Securities Named In Customer Securties Arbitration

December 23, 2016  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Jerry Gale Lowrimore, of Carmel, California, a stockbroker with M.L. Stern & Co., LLC, has been subject to a customer initiated investment related arbitration action on February 12, 2016, which settled for $250,000.00 in damages. The customer’s claim was based upon allegations that Lowrimore made unsuitable investment recommendations to the customer, and effected an unsuitable […]

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Legend Securities Named In Customer Securities Arbitration

December 23, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Maroof Miyana, of Pompano Beach, Florida, a stockbroker formerly registered with Legend Securities, Inc., has been subject to a customer initiated investment related arbitration claim from November 24, 2014, which settled for $72,000.00 in damages based upon allegations that Miyana effected unsuitable transactions in the customer’s investment account. FINRA Public Disclosure also reveals that on […]

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J.P. Turner Stockbroker Suspended For Unauthorized Borrowing

Robert Emmitt Gill, of Tinton Falls, New Jersey, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in an unauthorized borrowing arrangement with a firm customer. Letter of […]

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Gilford Securities Chairman Named In Customer Securities Arbitration

Ralph Worthington, of New York, New York, chairman and chief executive officer of Gilford Securities, has been named in a customer initiated investment related arbitration claim on December 2, 2014, in which the customer requested $875,000.00 in damages based upon allegations that Gilford was liable, as a control person for the firm, for a subordinate […]

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Feltl & Company Named in Customer Securities Arbitration Claim

December 23, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Brandt Bob Wendland, of Minneapolis, Minnesota, a stockbroker currently registered with Feltl & Company, has been subject to a customer initiated investment related arbitration claim on May 30, 2014, in which the customer requested $55,000.00 in damages. The customer’s claim was based upon allegations that Wendland effected unsuitable trades in penny stocks and leveraged exchanged […]

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VSR Financial Services Named In Customer Securities Arbitration Claim

Gregory Martin Ellis, of Baton Rouge, Louisiana, a stockbroker formerly registered with VSR Financial Services, has been subject to a customer initiated investment related arbitration action on July 22, 2015, in which the customer requested $445,000.00 in damages based upon allegations that Ellis negligently handled the customer’s account, breached his fiduciary duties to the customer, […]

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Charity Begins On the Courthouse Steps

December 17, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Douglas Jay Williams, of The Woodlands, Texas, a stockbroker currently registered with VFinance Investments, was subject to a customer initiated investment related arbitration claim filed on May 23, 2014, alleging that Williams effected unsuitable investments in the customer’s account, and made poor investment recommendations which caused the customer to bear losses. According to Williams, the […]

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Buckman Buckman & Reid Named In Customer Securities Arbitration

December 17, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

William Louis Baumner, of Boca Raton, Florida, a stockbroker currently registered with Buckman, Buckman & Reid, Inc., has been subject to a customer initiated investment related arbitration action on December 16, 2015, in which the customer requested $100,000.00 in damages based upon allegations that Baumner made misrepresentations to the customer concerning investments. FINRA Public Disclosure […]

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Southeast Investments Named In Customer Securities Arbitration

December 17, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Frank David Marinelli, of Brooklyn, New York, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been subject to a customer initiated investment related arbitration action, which settled for $15,000.00 in damages based upon allegations that Marinelli negligently handled the customer’s account, breached his fiduciary duty to the customer, effected trades in the […]

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PHX Financial Named In Customer Securities Arbitration

Francesco Anthony Scarso, of New York, New York, a stockbroker formerly registered with PHX Financial Services, Inc., has been subject to a customer initiated investment related arbitration claim from November 23, 2015, which settled for $12,500.00 in damages based upon allegations that Scarso had effected an options transaction in the customer’s investment account which had […]

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LPL Financial Named In Customer Arbitration Alleging Unauthorized Trading

Brent Van Lott, of Orem, Utah, a stockbroker formerly registered with LPL Financial LLC, has been subject to a customer initiated investment related arbitration claim on January 26, 2016, in which the customer requested $2,015,000.00 in damages based upon allegations that Lott effected trades in the customer’s account without the customer’s authorization. On March 4, […]

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Girard Securities Subject To Customer Securities Arbitration

Matthew Jon Lum, of Santa Barbara, California, a stockbroker currently registered with Girard Securities, Inc., has been subject to a customer initiated investment related arbitration action on January 9, 2015, which settled for $615,000.00 in damages based upon allegations that Lum made misrepresentations to the customer concerning investments, negligently handled the customer’s account, and effected […]

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Crown Capital Securities Named In Customer Securities Arbitration

December 17, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Jack Graham Merritt, of Huntington Beach, California, a stockbroker currently registered with Crown Capital Securities, L.P., has been subject to a customer initiated investment related arbitration claim on November 2, 2015, which settled for $19,000.00 in damages. The arbitration claim was based upon allegations that Merritt breached his fiduciary and contractual duties to the customer, […]

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Thrivent Investment Management Stockbroker Suspended For Unauthorized Trading

December 17, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Matthew Niederbaumer, of Huron, South Dakota, a stockbroker currently registered with Thrivent Investment Management Inc., was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No. 2016050492401 (Dec. […]

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Source Capital Group Stockbroker Suspended For Private Securities Transactions

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

Mark Robert Holcombe, of Westport, Connecticut, a stockbroker formerly registered with Source Capital Group, Inc., has been fined $10,000.00 and suspended from associating with a Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he participated in unauthorized private securities transactions. Letter of Acceptance, Waiver and Consent, No. 2015048236401 (Dec. […]

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Peterson Investments Stockbroker Suspended For Unauthorized Trading

December 17, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Kevin Curry, of New York, New York, a stockbroker currently registered with Peterson Investments, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected unauthorized trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No. […]

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Stifel Nicolaus Stockbroker Suspended For Unauthorized Trading

December 17, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

David Richard Shapiro, of New York, New York, a stockbroker currently registered with Stifel, Nicolaus & Company, Incorporated, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized trades in a customer account. Letter of Acceptance, Waiver and […]

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ACAP Financial Expelled For Selling Unregistered Securities

December 17, 2016  |   Posted by :   |   Boilerroom, Microcap Fraud, Stockbroker Fraud News   |   0 Comments

ACAP Financial Inc., a broker-dealer headquartered in Salt Lake City, Utah, has been expelled from Financial Industry Regulatory Authority (FINRA) membership per an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that ACAP Financial, inter alia, facilitated unregistered securities sales. Department of Enforcement v. ACAP Financial, et al., No. 2012030459101 (Dec. 6, […]

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JJB Hilliard WL Lyons Stockbroker Suspended For Unauthorized Trading

December 17, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Tyson Jon Palyka, of Trenton, Michigan, a stockbroker formerly registered with J.J.B. Hilliard, W.L. Lyons, LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. […]

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Bay Mutual Financial Stockbroker Barred For Cheating Seniors

Christopher B. Ariola, of Aliso Viejo, California, a stockbroker with Bay Mutual Financial, LLC, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Office of Hearing Officers’ Default Decision containing findings that Ariola made unsuitable recommendations to investors. Department of Enforcement v. Christopher B. Ariola, No. 2012034139101 […]

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Another Stockbroker Suspended In Private International Wealth Management Scam

December 17, 2016  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Dennis Anthony Edmonds, of Wilmington, North Carolina, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., was suspended for eleven months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized outside business activities. Letter of Acceptance, Waiver and Consent, No. […]

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Northwestern Mutual Stockbroker Suspended For Unauthorized Trading

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

Steven P. Azoury, of Troy, Michigan, a stockbroker formerly registered with Northwestern Mutual Investment Services, LLC, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected unauthorized trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015043653501 […]

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Meyers Associates Stockbroker Barred For In FINRA Investigation

December 17, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Michael S. Lavolpe, of New York, New York, a stockbroker formerly registered with Meyers Associates, L.P., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Office of Hearing Officers’ Default Decision containing findings that Lavolpe failed to provide FINRA with a response to its requests […]

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LPL Financial Stockbroker Suspended For Unauthorized Trading

December 17, 2016  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Ronald F. Paull III, of Olyphant, Pennsylvania, a stockbroker formerly associated with LPL Financial LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2015046621101 […]

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Olympus Securities Stockbroker Barred In Investigation

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

Paul J. McCabe, Jr., of New York, New York, a stockbroker registered with Olympus Securities, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that McCabe failed to cooperate in a FINRA cycle investigation of Olympus Securities. Letter of Acceptance, Waiver […]

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RBC Capital Markets Stockbroker Barred In Investigation

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

John S. Simpson, of Hunt Valley, Maryland, a stockbroker formerly registered with RBC Capital Markets, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations of his unauthorized trading in customer accounts. Letter of Acceptance, Waiver […]

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BAC Florida Investments Stockbroker Suspended For Lying

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

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

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Morgan Stanley Stockbroker Barred In Investigation

December 17, 2016  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Brian Carey Sak, of Deerfield, Illinois, a stockbroker formerly registered with Morgan Stanley, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations that Sak engaged in selling away or the unauthorized solicitation of a firm customer […]

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Raymond James & Associates Named In Customer Securities Arbitration

December 07, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

John N. Crook, of Macon, Georgia, a stockbroker formerly registered with Raymond James & Associates, Inc., has been named in a customer initiated investment related arbitration claim on August 18, 2016, in which the customer requested $4,800,000.00 in damages based upon allegations including breach of contract, negligence, intentional omissions and misrepresentation, fraud, breach of fiduciary […]

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Morgan Stanley Named in Customer Securities Arbitration Alleging Unsuitability

December 07, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Ari M. Baum, of New York, New York, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been subject to a customer initiated investment related arbitration claim on April 5, 2016, in which the customer requested $1,285,000.00 in damages based upon allegations that unsuitable corporate debt investments were effected by Baum in the customer’s […]

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Centaurus Financial Named In Securities Arbitration Alleging Fraud

December 07, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Leslie R. “Butch” Cabrinha, a stockbroker currently registered with Centaurus Financial, Inc., has been subject to a customer initiated investment related arbitration claim on May 16, 2014, which was settled for $75,000.00 in damages. The customer’s claim, which pertained to Cabrinha’s conduct, was based upon allegations that the branch manager failed to supervise one of […]

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Edward Jones Named in Customer Arbitration Alleging Unsuitability

December 07, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

George Stefanou, of Orlando, Florida, a stockbroker currently registered with Edward Jones, has been subject to a customer initiated investment related arbitration claim on February 24, 2015, which settled for $50,000.00 in damages. The customer’s claim was based upon allegations that Stefanou made an unsuitable investment recommendation concerning the transfer of the customer’s 457(b) and […]

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NYLife Securities Registered Representative Barred In Investigation

December 07, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Cynthia Bolker, of San Diego, California, a stockbroker formerly registered with NYLife Securities LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that Bolker engaged in unauthorized borrowing arrangements with customers, and falsified statements to her firm and FINRA concerning such. Letter […]

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VSR Financial Services Named in Customer Securities Arbitration

Keith A. Bradley, of Houston, Texas, a stockbroker formerly registered with VSR Financial Services, Inc., has been subject to a customer initiated investment related arbitration claim on July 12, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Bradley negligently handled the customer’s investment account, and effected unsuitable investment transactions. Bradley’s […]

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Laidlaw & Co. Named in Customer Securities Arbitration Claim

December 07, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Luis Marquez, of Melville, New York, a stockbroker currently registered with Laidlaw & Company Ltd., has been subject to a customer initiated investment related arbitration claim from October 10, 2015, in which the customer requested $340,000.00 in damages based upon allegations that Marquez effected unsuitable investment transactions in the customer’s account. Since 1998, Powers has […]

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Merrill Lynch Fined For Failure To Supervise Puerto Rican Bond Sales

December 07, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Merrill Lynch, Pierce, Fenner & Smith, headquartered in New York, York, New York, was censured and fined $6,250,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to supervise loan management accounts, and failed to supervise suitability transactions pertaining to Puerto Rico securities. Letter of Acceptance, Waiver and Consent, No. […]

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UBS Financial Services Stockbroker Suspended For Unauthorized Trading

December 07, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Christopher James Conroy, of New York, New York, a stockbroker currently registered with UBS Financial Services, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized discretionary trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015047589801 […]

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Doughery & Co Stockbroker Suspended For Unauthorized Trading

December 07, 2016  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Jeffrey A. Hill, of Bemidji, Minnesota, a stockbroker formerly associated with Dougherty & Company LLC, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he utilized unauthorized discretion in customer accounts, and made unsuitable investment recommendations to customers. Letter of Acceptance, […]

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Avenir Financial Group Stockbroker Barred For Unsuitable Recommendations

December 07, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Glen J. Rauch, of Syosset, New York, a stockbroker formerly registered with Avenir Financial Group, Inc., was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Rauch effected unsuitable and unauthorized transactions in customer accounts, and […]

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VSR Financial Services Named in Customer Securities Arbitration Claim

December 07, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

James V. Regier, of Topeka, Kansas, a stockbroker formerly associated with VSR Financial Services, Inc., has been subject to a customer initiated investment related arbitration claim on July 14, 2016, in which the customer requested $76,642.00 in damages based upon allegations that Regier effected unsuitable investment transactions in the customer’s account pertaining to United Development […]

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Rhodes Securities Named in Customer Arbitration Alleging Unsuitability

December 07, 2016  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Christopher P. Anthony, of Fort Worth, Texas, a stockbroker formerly registered with Rhodes Securities, Inc., has been subject to a customer initiated investment related arbitration claim on August 10, 2016, in which the customer requested $100,000.00 in damages based upon allegations that from 2014 through 2015, Anthony churned the customer’s investment account, and effected unsuitable […]

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UBS Financial Services Named In Customer Securities Arbitration

December 07, 2016  |   Posted by :   |   Stockbroker Fraud News, Structured Notes   |   0 Comments

Anthony J. Mazzo, of Boca Raton, Florida, a stockbroker formerly associated with UBS Financial Services, Inc., has been subject to a customer initiated investment related arbitration claim on August 5, 2016, which was settled for $138,855.92 in damages based upon allegations that Mazzo guaranteed investment performance to customers, and omitted facts to the customer concerning […]

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JP Turner & Co. Named In Ponzi Scheme Arbitration

Levi D. Lindemann, of Oakdale, Minnesota, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been subject to a customer initiated investment related arbitration claim on March 28, 2016, in which the customer requested $340,000.00 in damages based upon allegations that Lindemann negligently handled the customer’s investment account, breached his fiduciary duty to […]

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Wells Fargo Advisors Stockbroker Suspended For Unauthorized Trading

Sven Bernhard Karlen, of Lebanon, New Hampshire, a stockbroker formerly registered with Wells Fargo Advisors, has been fined $15,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected trades in customer accounts without authorization, mismarked order tickets, caused […]

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VALIC Financial Advisors Fined For Failure To Supervise

December 07, 2016  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

VALIC Financial Advisors, Inc., headquartered in Houston, Texas, was censured and fined $1,750,000.00 in damages by Financial Industry Regulatory Authority (FINRA) after consenting to findings that, inter alia, the firm failed to supervise its variable annuities business, and failed to create supervisory protocols pertaining to multiple share classes of variable annuities. Letter of Acceptance, Waiver […]

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Ameriprise Financial Services Stockbroker Suspended For Unauthoirzed Trading

December 07, 2016  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

John Burns, of Chesterfield, Missouri, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been fined $17,500.00 in damages and suspended for fourteen months from associating with any Financial Industry Regulatory Authority member in any capacity after consenting to findings that he effected unsuitable and unauthorized trades in customer accounts. Letter of Acceptance, Waiver […]

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VFG Securities And Chief Executive Officer Censured For Misleading Investors

December 07, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

VFG Securities, Inc., as well as Jason B. Vanclef, of Culver City, California, a stockbroker and chief executive officer currently registered with VFG Securities, Inc., were censured by Financial Industry Regulatory Authority (FINRA) per an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Vanclef made investment recommendations to customers based upon […]

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Noble Financial Capital Markets And Firm President Charged With Fraud

December 07, 2016  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Noble Financial Capital Markets, headquartered in Boca Raton, Florida, as well as the firm’s president, Nicolaas Petrus Pronk, have been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that the firm and Pronk defrauded the firm’s customers. Department of Enforcement v. Noble Financial Capital Markets et al., No. 2013035740901 […]

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Principal Securities Censured For Overcharging Customers

December 07, 2016  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Principal Securities, Inc., a broker-dealer headquartered in Des Moines, Iowa, was censured by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm excessively charged its customers through mutual funds transactions, and failed to implement adequately supervisory procedures and protocols to make sure that eligible mutual funds customers received sales charge waivers. Letter […]

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HD Vest Investment Services Caught Overcharging Customers

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

HD Vest Investment Services, a broker-dealer headquartered in Irving, Texas, was censured by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm overcharged customers within mutual funds transactions, and failed to supervise the firm’s mutual funds business in order to ensure that customers received sales charge waivers when eligible for such. Letter […]

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Laidlaw & Company Named In Customer Arbitration Alleging Excessive Trading

November 30, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Bryan G. Mazliach, of Melville, New York, a stockbroker registered with Laidlaw & Company Ltd., has been subject to a customer initiated investment related arbitration claim from February 8, 2016, in which the customer requested $200,000.00 in damages based upon allegations that Mazliach charged the customer with excessive commissions, and traded excessively in the customer’s […]

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Gilford Securities Named In Customer Arbitration Alleging Unsuitability

November 30, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Casey J. Alexander, of New York, New York, a stockbroker formerly registered with Gilford Securities Incorporated, has been subject to a customer initiated investment related arbitration claim on December 2, 2014, which was settled for $50,000.00 in damages based upon allegations that Alexander, as a control person for Gilford Securities, was liable for the wrongful […]

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Barrett & Company Named In Customer Arbitration Alleging Unsuitability

November 30, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Wilson G. Saville II, of Providence, Rhode Island, a stockbroker associated with Barrett & Company, has been subject to a customer initiated investment related arbitration claim on April 2, 2014, which was resolved in the customer’s favor for $267,890.06 in damages. The customer’s claim was based upon allegations that Saville breached his fiduciary duty to […]

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Oppenheimer & Company Named in Customer Arbitration Alleging Misrepresentation

November 30, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Mark S. Garfinkel, of Boca Raton, Florida, a stockbroker with Oppenheimer & Co. Inc., has been subject to a customer initiated investment related arbitration claim on February 18, 2015, based upon allegations that Garfinkel made misrepresentations to the customer concerning investments, and effected unsuitable investments in the customer’s account. FINRA Public Disclosure reveals that Garfinkel […]

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Voya Financial Advisors Named In Customer Arbitration Alleging Theft

November 30, 2016  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Frederick E. Monroe, Jr., of Albany, New York, a stockbroker formerly registered with Voya Financial Advisors, Inc., has been subject to fifteen customer initiated investment related arbitration claims from June 5, 2015, to February 8, 2016, in which customers have alleged that Monroe misappropriated the customers’ funds. Fourteen of the fifteen customer initiated arbitration claims […]

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VSR Financial Services Named In Customer Arbitration Alleging Misrepresentation

November 30, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Robert C. Bragg, of Colorado Springs, Colorado, a stockbroker formerly registered with VSR Financial Services, Inc., has been subject to a customer initiated investment related arbitration claim on February 24, 2015, which was settled for $60,000.00 in damages based upon allegations that Bragg made misrepresentations to the customer concerning investments, and made unsuitable investment recommendations. […]

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GWN Securities Stockbroker Suspended For Unsuitable Sales

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

Ronald E. Harrison, of Palm Beach Gardens, Florida, a stockbroker formerly registered with GWN Securities Inc., had his securities registration in The State of Texas suspended for ninety days based upon allegations that Harrison made an unsuitable investment recommendation to a customer, and effected transactions without having been properly registered with the Texas Securities Commissioner. […]

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Caprock Securities Stockbroker Barred In Investigation

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

Toni L. Robertson, of Lubbrock, Texas, a stockbroker formerly registered with Caprock Securities, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon her failure to respond to FINRA’s request for information concerning her activities. Docket No. 2015046415002 (Oct. 21, 2016). FINRA Public Disclosure reveals […]

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RBC Capital Markets Named in Customer Arbitration Alleging Unsuitability

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

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

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VSR Financial Services Named In Customer Arbitration Alleging Fraud

November 30, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Nicholas M. Giaallourakis, of Boca Raton, Florida, a stockbroker formerly associated with VSR Financial Services, Inc., has been subject to a customer initiated investment related arbitration claim from October 20, 2015, which settled for $14,000.00 in damages based upon allegations that Giaalourakis violated Florida Securities Act, breached his contractual and fiduciary duties to the customer, […]

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Legend Securities Named in Customer Arbitrations Alleging Fraud

November 30, 2016  |   Posted by :   |   Boilerroom, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

John S. Cangialosi, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., has been subject to a customer initiated investment related arbitration claim from November 20, 2015, which was settled for $9,999.00 in damages based upon allegations that Cangialosi made misrepresentations to the customer concerning investments, effected unsuitable investments in the […]

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G.A. Repple & Co. Named Customer Arbitration Claims

November 30, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Frederick Bremer, of Casselberry, Florida, a former stockbroker with G.A. Repple & Company, has been subject to a customer initiated investment related arbitration claim on August 17, 2015, in which the customer requested $60,000.00 in damages based upon allegations that Bremer effected unsuitable investment transactions regarding Church Capital Funding and other church bonds which California […]

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Northeast Securities Named in Customer Arbitration Alleging Unsuitability

November 30, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Aldo N. Marchena, of Boca Raton, Florida, a stockbroker formerly registered with Northeast Securities, Inc., has been subject to a customer initiated investment related arbitration claim on July 27, 2016, in which the customer requested $75,000.00 in damages based upon allegations that Marchena breached his fiduciary duties to the customer by making unsuitable recommendations of […]

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Joseph Gunnar Named in Customer Arbitration Alleging Unauthorized Trading

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

James N. Forster II, of New York, New York, a stockbroker formerly registered with Joseph Gunnar & Co., LLC, has been subject to a customer initiated investment related arbitration claim on March 24, 2016, which was settled for $7,500.00 in damages based upon allegations that Forster traded in the customer’s investment account without authorization. FINRA […]

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Buckman Buckman & Reid Named in Another Arbitration Claim

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

Dwarka Persaud, of Little Silver, New Jersey, a stockbroker formerly registered with Buckman, Buckman & Reid, Inc., is subject to a customer initiated investment related arbitration claim from October 10, 2016, in which the customer requested $40,000.00 in damages based upon allegations that Persaud effected an investment strategy that was unsuitable, and charged the customer […]

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GFI Securities Stockbroker Barred In Investigation

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

David William Major, of New York, New York, a stockbroker formerly registered with GFI Securities LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations of his misconduct pertaining to fees charged to customers. Letter […]

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Transamerica Financial Advisors Stockbroker Barred In Investigation

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

Harry Bennett, of New Boston, Michigan, a stockbroker formerly associated with Transamerica, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that Bennett obstructed a FINRA investigation into allegations that Bennett made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and Consent, No. 2016049208901 […]

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MML Investor Services Caught Overcharging Customers

November 30, 2016  |   Posted by :   |   Failure To Supervise, Mutual Fund Fraud, Stockbroker Fraud News   |   0 Comments

MML Investor Services, LLC, a broker-dealer headquartered in Springfield, Massachusetts, was censured by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm excessively charged customers concerning mutual funds transactions, and failed to have adequate supervisory procedures and protocols designed to make sure that eligible customers received waivers of sales charges. Letter of […]

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Dawson James Securities Stockbroker Suspended For Unsuitable Recommendations

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

Kevin L. Barbalace, of Columbia, Maryland, a stockbroker formerly associated with Dawson James Securities, Inc., has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that Barbalace made unsuitable recommendations to a firm customer. Letter of Acceptance, Waiver and […]

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PNC Investments Stockbroker Suspended For Unauthorized Trading

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

Thomas E. Omark, of Erie, Pennsylvania, a stockbroker formerly associated with PNC Investments, was fined $15,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2015047550801 […]

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Raymond James Financial Services Stockbroker Barred In Investigation

Emily Michelle Thompson, of Wauseon, Ohio, a stockbroker formerly associated with Raymond James Financial Services, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that she failed to cooperate with FINRA in an investigation into allegations of unauthorized trading. Letter of Acceptance, […]

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Raymond James Stockbroker Fined For Unauthorized Trading

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

Paul McLellan Alexander Jr., of Palm Beach Gardens, Florida, a stockbroker formerly registered with Raymond James & Associates, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected transactions in customer accounts without authorization. Letter of Acceptance, Waiver […]

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Du Pasquier Stockbroker Charged With Fraud

November 30, 2016  |   Posted by :   |   Excessive trading, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

James Larkin Powers, of Atlanta, Georgia, a stockbroker formerly registered with du Pasquier & Co., Inc., has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging, inter alia, that Powers converted customer funds. Department of Enforcement v. Powers, No. 2014041985401 (Nov. 15, 2016). According to the Complaint, Power was […]

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US Bancorp Stockbroker Barred For Selling Away

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

John S. Hudnall, of San Francisco, California, a stockbroker formerly registered with U.S. Bancorp Investments and Bancwest Investments Services, Inc., was permanently barred by Financial Industry Regulatory Authority (FINRA) Department of Enforcement per an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Hudnall engaged in unauthorized private securities transactions or selling […]

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Newbridge Securities Corporation Named In Customer Arbitrations

November 29, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Gerald J. Cocuzzo, of Boca Raton, Florida, a stockbroker formerly registered with Newbridge Securities Corporation, has been named in a customer initiated investment related arbitration claim on July 5, 2016, based upon allegations that Cocuzzo breached his fiduciary and contractual duties to the customers, overconcentrated the customers’ assets, and committed fraud. Additionally, the customers alleged […]

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LPL Financial Stockbroker Barred In Investigation

November 29, 2016  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Dominic Thomas DeBruin, of Mesa, Arizona, a stockbroker registered with LPL Financial LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that DeBruin failed to cooperate in a FINRA investigation into allegations that DeBruin engaged in unauthorized private securities transactions or […]

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Western International Securities Stockbroker Charged In Investigation

November 29, 2016  |   Posted by :   |   Promissory Notes, Selling away, Stockbroker Fraud News   |   0 Comments

Dawn Bennett, of Washington, District of Columbia, a stockbroker formerly associated with Western International Securities, has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Bennett failed to cooperate in a FINRA investigation into allegations that she potentially engaged in unauthorized private securities transactions or selling away, committed […]

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Caldwell International Securities Group Stockbroker Suspended For Churning

November 29, 2016  |   Posted by :   |   Churning, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

John Billy Kakonikos, of Lake Success, New York, a stockbroker formerly associated with Caldwell International Securities, was fined $10,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized, as well as unsuitable and excessive trades in a customer […]

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Legend Securities Stockbroker Suspended For Unauthorized Trading

November 29, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Michael S. Androulakis, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected a transaction in a customer’s account without authorization. Letter of Acceptance, Waiver […]

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1st Discount Brokerage Fined For Failure To Supervise Exchange Traded Fund Sales

1st Discount Brokerage, headquartered in Lake Worth, Florida, was censured and fined by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to create and implement adequate supervision protocols and systems pertaining to non-traditional exchange traded funds, and failed to provide reasonable supervision pertaining to non-traditional exchange traded fund sales. Letter […]

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Meyers Associates Stockbroker Charged With Fraud

November 29, 2016  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Naveed A. Khan, of Staten Island, New York, a stockbroker formerly registered with Meyers Associates, L.P., was charged by Securities and Exchange Commission (SEC) in a Complaint alleging that Khan engaged in securities fraud. United Stated Securities and Exchange Commission v. Naveed A. Khan, Docket No. 16-cv-02193 (E.D.N.Y. May 3, 2016). According to the Complaint, […]

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First American Securities Fined For Failure To Supervise Private Placements

First American Securities, a broker-dealer headquartered in Orville, Ohio, was censured and fined $150,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to supervise two private placements offerings. Letter of Acceptance, Waiver and Consent, No. 2015046056405 (Nov. 7, 2016). According to the AWC, the firm had engaged into an […]

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Pruco Securities Named In Customer Misrepresentation Claim

November 29, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Terry J. Bagwell, of Birmingham, Alabama, a stockbroker formerly associated with Pruco Securities, LLC, was named in a pending customer initiated investment related arbitration claim on February 22, 2016, in which the customer alleged that Bagwell made misrepresentations to a customer concerning a life insurance policy. FINRA Public Disclosure reveals that Bagwell has been subject […]

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Meyers Associates President Named In Customer Arbitration

November 29, 2016  |   Posted by :   |   Boilerroom, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Bruce Meyers, of New York, New York, a stockbroker and former president of Meyers Associates, L.P., was named in a customer initiated investment related arbitration claim on April 7, 2016, in which the customer requested $545,000.00 in damages based upon allegations that Meyers effected unsuitable trades in the customer’s account. FINRA Public Disclosure reveals that […]

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Woodstock Financial Group Named In Customer Arbitration Alleging Unsuitability

November 29, 2016  |   Posted by :   |   Boilerroom, Stockbroker Fraud News   |   0 Comments

David R. Wolk, of Garden City, New York, a stockbroker formerly associated with Woodstock Financial Group, Inc., has been named in a customer initiated investment related arbitration claim on January 21, 2016, in which the customer requested $50,000.00 in damages based upon allegations that Wolk breached his fiduciary duty to the customer and effected unsuitable […]

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Woodstock Financial Group Named In Customer Arbitration Claims

November 29, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

John Tinnelly, of Hawthorne, New York, a stockbroker currently registered with Woodstock Financial Group, Inc., has been named in a customer initiated investment related arbitration action on April 15, 2015, in which the customer requested $60,500.00 in damages based upon allegations that Tinnelly made misrepresentations to the customer concerning investments, breached his contractual obligations, negligently […]

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Legend Securities Named In Customer Arbitration Alleging Unsuitability

November 29, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Enver R. Alijaj, of New York, New York, a stockbroker formerly associated with Legend Securities Inc., has been subject to a customer initiated investment related arbitration action on January 13, 2016, in which the customer requested $73,454.00 in damages based upon allegations that Alijaj effected unsuitable transactions in the customer’s account pertaining to over-the-counter equities, […]

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MetLife Securities Named In Customer Arbitration Alleging Stockbroker Theft

Michael J. Smeriglio III, of Greenwich, Connecticut, a stockbroker formerly registered with MetLife Securities Inc., has been subject to a customer initiated investment related arbitration claim on June 26, 2015, which settled for $2,500,000.00 in damages based upon allegations that Smeriglio breached his fiduciary duty to the customer, stole the customer’s funds, and committed fraud. […]

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Foothill Securities Named In Customer Arbitration Alleging Stockbroker Theft

November 29, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Daniel I. McCourt, of Aptos, California, a stockbroker formerly associated with Foothill Securities, Inc, has been named in a customer initiated investment related arbitration claim  in which customers have collectively requested $220,634.00 in damages based upon allegations that McCourt breached his fiduciary duty, negligently managed customers’ accounts, and converted customers’ funds. FINRA Public Disclosure reveals […]

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Avenir Financial Group Named In Customer Fraud Arbitration

November 29, 2016  |   Posted by :   |   Selling away, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Richard Gomez, of New York, New York, a stockbroker formerly associated with Avenir Financial Group, has been subject to a customer initiated investment related arbitration claim on July 11, 2016, in which the customer requested $100,000.00 in damages based upon allegations that Gomez breached his fiduciary and contractual duties, and sold fraudulent investments to the […]

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Raymond James Named In Customer Theft Arbitration

Claus C. Foerster, of Greenville, South Carolina, a stockbroker formerly registered with Raymond James & Associates, Inc., has been subject to a customer initiated investment related arbitration claim on March 26, 2015, in which the customer requested $509,100.00 in damages based upon allegations that Foerster committed forgery and misappropriated the customer’s monies. FINRA Public Disclosure […]

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Investors Capital Corp Named in Customer Arbitration

November 29, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Edgar A. Thomas, of Lakeland, Florida, a stockbroker formerly registered with Investors Capital Corp., has been named in a customer initiated investment related arbitration claim on April 28, 2016, in which the customer requested $110,000.00 in damages based upon allegations that Thomas effected unsuitable transactions in the customer’s account pertaining to United Development Funding III, […]

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Spartan Capital Securities Named In Customer Churning Claim

November 18, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Shahbul Molla, of Garden City, New York, a stockbroker currently registered with Spartan Capital Securities, LLC, has been named in a customer initiated investment related arbitration claim on March 7, 2016, in which the customer requested $115,414.22 in damages based upon allegations that Molla churned the customer’s investment account, overconcentrated the customer’s assets, made misrepresentations […]

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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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National Securities Corporation Named In Customer Arbitration Claims

November 18, 2016  |   Posted by :   |   Boilerroom, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Levert Caldwell, of Red Bank, New Jersey, a stockbroker formerly registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim on September 30, 2016, in which the customer requested $400,000.00 in damages based upon allegations that Caldwell breached his fiduciary duty to the customer, churned the customer’s account, and […]

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Alexander Capital Named In Customer Unsuitability Claim

November 18, 2016  |   Posted by :   |   Churning, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Joseph R. Connolly, of Staten Island, New York, a stockbroker formerly registered with Alexander Capital, L.P., has been subject to a customer initiated investment related arbitration claim on February 8, 2016, in which the customer requested $660,000.00 in damages based upon allegations that Connolly effected excessive and unsuitable trades in the customer’s account, and generated […]

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JP Turner Named In Customer Arbitration Fraud Claim

November 18, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Rocco G. Guidicipietro, of New York, New York, a stockbroker formerly registered with J.P. Turner & Company, L.L.C., has been subject to three customer initiated arbitration claims involving his misconduct. Particularly, on October 21, 2014, a customer initiated investment related arbitration claim involving Guidicipietro’s conduct was resolved for $60,000.00 in damages based upon allegations that […]

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Maxim Group Named In Customer Unsuitability Claim

Christopher Kazan, of South Norwalk, Connecticut, a former stockbroker with Maxim Group LLC, was subject to a customer initiated investment related arbitration claim on August 24, 2015, which was settled for $85,000.00 in damages based upon allegations that Kazan effected unsuitable investment transactions in the customer’s investment account between October of 2012 through August of […]

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Wedbush Securities Named In Customer Unsuitability Claim

James Blinkhorn, of Lake Oswego, Oregon, a stockbroker formerly associated with Wedbush Securities Inc., was subject to a customer initiated investment related arbitration claim on September 11, 2015, which was settled for $83,000.00 in damages based upon allegations that Blinkhorn effected unsuitable transactions in the customer’s investment account, and failed to communicate with the customer […]

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Andrew Garrett Named In Customer Churning Claim

Wayne M. Raymond, of New York, New York, a former stockbroker with Andrew Garrett Inc., has been subject to a customer initiated investment related arbitration claim on February 12, 2015, which was settled for $8,600.00 in damages based upon the customer’s allegations that Raymond effected excessive and unauthorized trades in the customer’s investment account. FINRA […]

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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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Meyers Associates Named In Unsuitability Claim

November 18, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Thomas A. Guerriero, of New York, New York, a stockbroker formerly registered with Meyers Associates, L.P., has been named in a customer initiated investment related arbitration claim on February 24, 2016, in which the customer has requested $500,000.00 in damages based upon allegations that Guerriero breached his fiduciary duty to the customer, made misleading 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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Barret And Company Named In Customer Misrepresentation Arbitration Claim

Charles E. White II, of Providence, Rhode Island, a stockbroker currently associated with Barrett & Company, has been subject to a customer initiated investment related arbitration claim on November 27, 2015, which was settled for $105,000.00 in damages based upon the customer’s allegations that the firm made misrepresentations to the customer concerning White’s qualifications, position […]

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VFG Securities Stockbroker Charged With Lying To Investors

Jason B. Vanclef, of Culver City, California, a stockbroker currently registered with VFG Securities, Inc., was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Vanclef made investment recommendations to customers based upon false and misleading statements. Department of Enforcement v. Jason Bryce Vanclef, No. 2013038283001 (Feb. 9, 2016). […]

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First Financial Equity Corporation Named In Customer Arbitration Claim

Randy Merrill, of Waco Texas, a stockbroker currently registered with First Financial Equity Corporation, has been subject to a customer initiated investment related arbitration claim on October 19, 2015, which was settled for $22,500.00 in damages based upon allegations that Merrill effected unsuitable transactions in the customer’s investment account. The customer additionally alleged that First […]

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Waddell And Reed Named Customer Suitabilty Arbitration Claim

Jason Freiwald, of Scottsdale, Arizona, a stockbroker currently registered with Waddell & Reed, has been named in a customer initiated investment related arbitration claim on January 25, 2016, in which the customer requested $541,150.00 in damages based upon allegations that Freiwald effected unsuitable investment transactions in the customer’s account. According to the customer, Freiwald recommended […]

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Merrill Lynch Named In Customer Unauthorized Trading Claim

Joseph I. Yanofsky, of Greenwood Village, Colorado, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, has been subject to a customer initiated investment related arbitration claim on August 27, 2015, in which the customer alleged that Yanofsky effected unauthorized transactions in the customer’s investment account. FINRA Public Disclosure reveals that Yanofsky has […]

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Viewtrade Securities Investigated For Unregistered Securities Sales

November 18, 2016  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Alan F. Pacella and Matthew Ronan, of Boca Raton, Florida, stockbrokers currently registered with Viewtrade Securities, Inc., have been subject to an investigation launched by Financial Industry Regulatory Authoirty (FINRA) on September 28, 2015, in which Pacella’s and Ronan’s conduct is being examined for potential violations of Securities Exchange Act of 1933 Section 5, as […]

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Former MML Investors Services Stockbroker Charged With Misrepresentation

Stanley C. Niekras, of Liverpoll, New York, a stockbroker formerly associated with MML Investors Services, LLC, was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Niekras made misrepresentations to elderly customers pertaining to investments. Department of Enforcement v. Niekras, No. 2013037401001 (Nov. 7, 2016). According to the Complaint, […]

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Newport Coast Securities Finally Expelled From FINRA

Newport Coast Securities, a broker-dealer headquartered in New York, New York, has been fined $1,000,000.00 and expelled from Financial Industry Regulatory Authority (FINRA) membership per an Extended Hearing Panel Decision in which Newport Coast Securities was found to have effected trades in customer accounts on a quantitatively unsuitable basis, churned customer accounts, made qualitatively unsuitable […]

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LM Kohn And Company Named In Customer Arbitration Claim

November 18, 2016  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Charles Ehnot of Dunmore, Pennsylvania, a stockbroker currently registered with LM Kohn & Company, settled a customer initiated investment related arbitration based upon allegations that LM Kohn & Company failed to supervise Ehnot. FINRA Public Disclosure reveals that Ehnot has been subject to an additional twenty-eight disclosure incidents. Particularly, on December 23, 1992, a customer initiated […]

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Primex Named in Customer Arbitration Alleging Churning

November 18, 2016  |   Posted by :   |   Churning, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Daniel L. Silverstein, of Boca Raton, Florida, a stockbroker currently registered with Primex, or Prime Electronic Execution, Inc. has been named in a customer initiated investment related arbitration claim on August 19, 2016, in which the customer has requested $431,000.00 in damages based upon allegations that Silverstein breached his fiduciary to the customer, traded in the […]

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Fifth Third Securities Named In Customer Arbitration Alleging Unsuitability

Matthew T. Flynn, of Highland, Michigan, a stockbroker formerly with Fifth Third Securities, is subject to a customer initiated investment related arbitration claim from February 3, 2014, in which the customer requested $275,000.00 in damages based upon allegations against Flynn of making unsuitable recommendations in non-public real estate investment trusts. FINRA Public Disclosure reveals that […]

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LPL Financial Named In Customer Arbitration Alleging Unsuitablity

November 18, 2016  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Kenneth D. Wright, of Kingsport, Tennessee, a stockbroker formerly registered with LPL Financial LLC, settled a customer initiated investment related arbitration claim for $500,000.00 based upon allegations that Wright made unsuitable investment recommendations for the customer to cash out a pension plan and invest in a real estate investment trust. On September 20, 2010, another […]

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Dawson James Securities Named in Selling Away Case

November 18, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

A customer initiated an investment related arbitration claim involving the conduct of Pranav Patel, of Boca Raton, Florida, a stockbroker formerly associated with Dawson James Securities, Inc. Customers collectively requested $62,855.00 in damages based upon allegations that Patel sold securities in ForceField Energy Inc. to them outside the auspices of his firm. The customers alleged that […]

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Royal Alliance Named In Customer Arbitration Alleging Misrepresentation

Roger Deal, of Columbus, Nebraska, a stockbroker formerly associated with Royal Alliance Associates, Inc., has been subject to a customer initiated investment related arbitration claim, in which multiple customers have collectively requested $3,200,000.00 in damages based upon allegations that Deal effected unsuitable investment recommendations, made misrepresentations, as well as failed to conduct due diligence in […]

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Merrill Lynch Stockbroker Barred In Investigation

November 18, 2016  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Alfonso Papa, of Pennington, New Jersey, a stockbroker formerly associated with Merrill Lynch, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations of misconduct associated with “personal bank accounts.” Letter of Acceptance, Waiver and Consent, No. 2016048730602 […]

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LPL Financial Stockbroker Barred For Selling Away

November 18, 2016  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Michael Babyak Jr., of Mine Hill, New Jersey, a stockbroker formerly registered with LPL Financial LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized private securities transactions or selling away. Letter of Acceptance, Waiver and Consent, No. 2015048141701 (Nov. […]

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Newport Coast Securities Stockbroker Barred For Churning

November 18, 2016  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Andre LaBarbera, of Dix Hills, New York, a stockbroker formerly registered with Newport Coast Securities, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per a FINRA Extended Hearing Panel Decision containing findings that LaBarbera effected unsuitable trades and churned customer accounts. Department of Enforcement v. LaBarbera, […]

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Summit Equities Stockbroker Suspended For Failure To Supervise

Rembert D. McNeer III, of Parsippany, New Jersey, a stockbroker formerly registered with Summit Equities, Inc., was fined $10,000.00 and suspended for one-year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he failed to properly supervise the activity of a Summit Equities registered representative. Letter […]

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LPL Financial LLC Stockbroker Barred For Selling Away

November 18, 2016  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Joseph A. Likens, of Des Peres, Missouri, a stockbroker formerly registered with LPL Financial LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) Member in any capacity after consenting to findings that he failed to cooperate with a FINRA investigation into allegations that Likens participated in unauthorized private securities transactions or […]

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Wunderlich Securities Stockbroker Suspended For Unauthorized Trading

November 18, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Peter J. Neary, of Plymouth, Michigan, a stockbroker formerly with Wunderlich Securities, was fined $5,000.00 and suspended by Financial Industry Regulatory Authority (FINRA) after consenting to findings that he effected unauthorized discretionary trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No. 2015044491201 (Nov. 3, 2016). Per the AWC, between July of 2012 […]

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Colorado Financial Service Stockbroker Charged With Selling Away

November 18, 2016  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Tracy Turner, of Carlsbad, California, a stockbroker previously registered with Colorado Financial Service Corporation, was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Turner effected unauthorized private securities transactions or selling away, and made misrepresentations to customers in connection with such. Department of Enforcement v. Tracy Turner, No. 2014040338401 (Nov. 3, […]

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Kestra Financial Advisors Fined For Failure To Supervise Annuity Sales

November 18, 2016  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Kestra Financial Advisors, a broker-dealer headquartered in Austin, Texas, was censured and fined $475,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to supervise its variable annuity sales. Letter of Acceptance, Waiver and Consent, No. 2014039418401 (Nov. 2, 2016). According to the AWC, the firm failed to supervise recommendations […]

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Voya Financial Advisors Fined For Failure To Supervise Annuity Sales

November 18, 2016  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Voya Financial Advisors, a broker-dealer headquartered in Des Moines, Iowa, was censured and fined $2,750,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to supervise its variable annuity sales. Letter of Acceptance, Waiver and Consent, No. 2014039172901 (Nov. 2, 2016). According to the AWC, the firm’s supervisory failures pertained […]

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Wells Fargo Advisors Stockbroker Suspended For Unsuitable Recommendation

Robert James Batchen, of Skokie, Illinois, a stockbroker formerly registered with Wells Fargo Advisors, LLC, was fined $15,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized discretionary trades and unsuitable transactions in a customer account. Letter of […]

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Newport Coast Securities Stockbroker Leone Barred For Churning

November 18, 2016  |   Posted by :   |   Churning, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Douglas A. Leone, of Dix Hills, New York, a stockbroker formerly registered with Newport Coast Securities, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per a FINRA Extended Hearing Panel Decision containing findings that Leone churned customer accounts and effected unsuitable trades. Department of Enforcement […]

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Massachusetts Brings Action Against Eubiquity Capital Ponzi Scheme

November 03, 2016  |   Posted by :   |   Alternative Investments, Ponzi Scheme, Stockbroker Fraud News   |   0 Comments

The Massachusetts Secretary of the Commonwealth, William F. Galvin, issued an administrative complaint against Stephen S. Eubanks for operating a text book Ponzi scheme According to the Complaint, since approximately October 2011, Eubanks presented himself as a successful hedge fund manager of Eubiquity Capital. According to the Complaint, Eubanks, sold approximately $562,000 of his hedge […]

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Customer Awarded Damages In Arbitration Claim Against Aegis Capital Corp Stockbroker

Matthew Digregorio, of Melville, New York, a stockbroker formerly registered with Aegis Capital Corp., was subject to a customer initiated investment related arbitration claim on April 28, 2016, in which the customer was awarded $50,000.00 in damages based upon allegations against Digregorio of churning the customer’s account, effecting unsuitable transactions, and breaching his fiduciary duty. FINRA […]

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Accelerated Capital Group Officer Named In Customer Arbitrations Alleging Failure To Supervise

Janet Ross, of Irvine, California, the chief compliance officer and a registered principal of  Accelerated Capital Group, was named in a pending customer initiated investment related arbitration claim on September 15, 2016, in which the customer requested $400,000.00 in damages based upon allegations that Ross failed to supervise the sales of promissory notes to the […]

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Coastal Equities Stockbroker Suspended For Obstructing Investigation

November 03, 2016  |   Posted by :   |   Boilerroom, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Neil D. Pecker, of Longwood, Florida, a stockbroker formerly registered with Coastal Equities, Inc., was suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after FINRA found that Pecker did not cooperate with FINRA’s request to provide information or documentation. Docket No. 2016050013101 (Sept. 26, 2016). FINRA Public Disclosure reveals […]

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Edward Jones Stockbroker Suspended For Unauthorized Discretionary Trading

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

Michael Jason Gamez, of Corsicana, Texas, a stockbroker formerly registered with Edward Jones, was suspended by Texas Securities Commissioner after consenting to findings that Gamez effected unauthorized discretionary trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. IC16-SUS-12 (July 27, 2016). According to the AWC, from January 2013 to November 2014, at a […]

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Aegis Capital Corp Named by Customers In Arbitration For Misconduct

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

Joshua L. Feldman, of New York, New York, a stockbroker currently registered with Aegis Capital Corporation, has been named in a pending customer initiated investment related arbitration claim in which the customer requested $300,000.00 in damages based upon allegations against Feldman of effecting unsuitable transactions in penny stocks and options between January of 2011 and […]

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Summit Brokerage Services Named in Customer Arbitration Alleging Unsuitability

November 02, 2016  |   Posted by :   |   Non-traded REITs, Stockbroker Fraud News, Suitability   |   0 Comments

Joel E. Archer, of Arden Arcade, California, a stockbroker currently registered with Summit Brokerage Services, Inc., has been named in a pending customer initiated investment related arbitration claim on June 21, 2016, in which the customer requested $200,000.00 in damages based upon allegations against Archer of making unsuitable investment recommendations to the customer, and effecting […]

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Wilbanks Securities Executives Named In Customer Arbitration Alleging Supervisory Failures

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

Wilbanks Securities executives Randall Wilbanks and Aaron Wilbanks, of Oklahoma City, Oklahoma, have been named in a pending customer initiated investment related arbitration claim on November 24, 2014, in which the customers have collectively requested $1,465,000.00 in damages based upon allegations that Randall Wilbanks and Aaron Wilbanks, as control persons, were responsible for improper sales […]

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KCD Financial Named In Customer Arbitrations Alleging Unsuitability

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

Henry C. Prange IV, of Green Bay, Wisconsin, a stockbroker currently registered with KCD Financial, Inc., has been named in a pending customer initiated investment related arbitration claim on May 24, 2016, in which the customer requested $35,000.00 in damages based upon allegations that Prange made investment recommendations that were unsuitable for the customer. Also, Randall […]

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Stifel Nicolaus Sued by Customer For Unsuitable Recommendations

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

Robert K. Ratcliff, of Denton, Texas, a stockbroker currently registered with Stifel, Nicolaus & Company, Inc., has been named in a pending customer initiated investment related arbitration claim on January 8, 2016, in which several customers have collectively requested $75,000.00 in damages based upon allegations against Ratcliff of breaching his fiduciary and contractual obligations, making […]

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Edward Jones Stockbroker Suspended For Overcharging Customers

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

Jens Pinkernell, of Celina Texas, a stockbroker formerly associated with Edward Jones, was suspended for five years by the Texas State Securities Board after consenting to findings that Pinkernell overcharged customers. Letter of Acceptance, Waiver and Consent, No. IC16-SUS-17 (Oct. 14, 2016). According to the AWC, Pinkernell made arrangements with a customer per an investment […]

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Woodstock Financial Group Sued by Customer For Churning

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

Barry M. Kiront, of Garden City, New York, a stockbroker formerly associated with Woodstock Financial Group, Inc., has been named in a customer initiated investment related arbitration action on March 20, 2015, based upon allegations against Kiront including unauthorized trading, unsuitability, churning, breach of contract, breach of fiduciary duty, misrepresentation, negligence, and unjust enrichment. The […]

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Morgan Stanley Sued By Customers For Unsuitabile Recommendations

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

Rick A. Davidson, of New York, New York, a stockbroker formerly associated with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on July 22, 2016, in which the customer requested $1,000,000.00 in damages based upon allegations that Davidson effected unsuitable investments in the customer’s investment account from January of 2013 […]

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VSR Financial Services Named in Customer Unsuitability Arbitration

Parks Heard Brown Jr., of Marietta, Georgia, a stockbroker formerly associated with VSR Financial Services, Inc., has been named in a customer initiated investment related arbitration claim on October 14, 2016, based on allegations that Brown effected unsuitable investment transactions in the customer’s account. FINRA Public Disclosure reveals that Brown has been subject to three […]

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National Securities Corporation Stockbroker Charged With Obstructing Investigation

Glenn McDowell, of New York, New York, a stockbroker formerly associated with National Securities Corporation, Inc., was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that McDowell effected unauthorized trades in a customer’s account. Department of Enforcement v. Glenn McDowell, No. 2013035902701 (Oct. 28, 2016). According to the Complaint, from May 24, […]

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EFG Capital International Stockbroker Charged With Obstructing FINRA Investigation

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

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

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Raymond James Stockbroker Suspended For Selling Away

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

Richard Sampley, of Atlanta, Georgia, a stockbroker formerly registered with Raymond James & Associates, Inc., was fined $15,000.00 and suspended for ten months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unauthorized private securities transactions. Letter of Acceptance, Waiver and Consent, No. […]

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Capital Financial Services Stockbroker Suspended For Outside Business Activites

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

Anthony Paul Lombardi, of Carlsbad, California, a stockbroker formerly registered with Capital Financial Services, was fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized outside business activities. Letter of Acceptance, Waiver and Consent, No. 2014042740201 (Oct. 24, […]

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WFG Investments Stockbroker Barred For Unsuitable Investment Recommendations

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

Stuart G. Dickinson, of Highland Park, Texas, a stockbroker formerly registered with WFG Investments, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per a FINRA Office of Hearing Officers’ Default Decision containing findings that Dickinson made unsuitable investment recommendations to customers. Department of Enforcement […]

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Another Newport Coast Securities Stockbroker Barred For Defrauding Customers

Donald Bartelt, of West Palm Beach, Florida, a stockbroker formerly registered with Newport Coast Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per a FINRA Office of Hearing Officers’ Default Decision containing findings that Bartelt effected unsuitable trades and churned customer accounts. Department of Enforcement […]

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Newport Coast Securities Stockbroker Barred For Churning

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

David M. Levy, of West Palm Beach, Florida, a stockbroker formerly registered with Newport Coast Securities, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per a FINRA Office of Hearing Officers’ Default Decision containing findings that Levy effected unsuitable trades and churned customer accounts, made recommendations […]

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PHX Financial Stockbroker Subject To Customer Arbitration

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

Serge Parakhnevich, of Melville, New York, a stockbroker registered with , PHX Financial Inc., has been named in a pending customer initiated investment related arbitration claim on August 17, 2015, in which the customer requested $100,000.00 in damages based upon allegations that Parakhnevich effected excessive and unauthorized trades, and churned the customer’s investment account. According […]

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Ameritas Investment Corp Named in Customer Arbitration Alleging Misrepresentation

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

Peter B. Cohen, of Simsbury, Connecticut, a stockbroker with Ameritas Investment Corp., has been named in a customer initiated investment related arbitration claim on March 17, 2016, based upon allegations against Cohen of misrepresentation of facts concerning investments, fraudulent inducement, breach of fiduciary duty, and unjust enrichment. Guiliano Law Firm Our practice is limited to […]

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Worden Capital Management Stockbroker Barred In Investigation

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

Christos A. Kalatoudis, of Garden City, New York, a stockbroker formerly registered with Worden Capital Management, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity on April 19, 2016, based upon allegations that Kalatoudis did not provide information to FINRA upon request. Previously, Kalatoudis was suspended by […]

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Titan Securities Charged With Misrepresentation

November 02, 2016  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Titan Securities, headquartered Dallas Texas, along with Brad C. Brooks, its hief compliance officer and president, and Richard Wayne Demetriou, a registered representative, were charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Demetrio made misrepresentations to customers and failed to disclose an outside business activity; and Titan, via […]

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Former Wilbanks Securities Named in Customer Arbitration Alleging Unsuitability

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

Will R. Freeman, of Oklahoma City, Oklahoma, a stockbroker formerly registered with Wilbanks Securities, Inc., has been named in a customer initiated investment related arbitration claim on November 24, 2014, in which the customer requested $1,465,000.00 in damages based upon allegations that Freeman effected an unsuitable investment transaction in the customer’s account pertaining to an […]

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Caldwell International Securities Stockbroker Suspended For Unsuitability

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

Alex Etter, of Englewood Cliffs, New Jersey, a stockbroker formerly registered with Caldwell International Securities, was fined $10,000.00, and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per a FINRA Order Accepting Offer of Settlement containing findings that Etter effected unsuitable investment recommendations to customers. Department of Enforcement v. […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

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

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

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Former LPL Financial Stockbroker Suspended For Unsuitable Trading

Mark Tauzin, of Lafayette, Louisiana, a stockbroker formerly associated with LPL Financial LLC, was fined $20,000.00 and suspended for eight months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unsuitable trades of unit investment trusts in customer accounts. Letter of Acceptance, Waiver and […]

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Houlihan Capital And Chief Compliance Officer Fined For False Advertising

Houlihan Capital, LLC, headquartered in Chicago, Illinois, as well as Andrew Smith, its  president, and chief compliance officer, were censured and fined by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm and Smith made false statements, omissions, and unwarranted statements concerning the benefits and risks of private placement offerings. Letter of […]

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Waddell And Reed Stockbroker Barred For Stealing

Gregory R. Bauer, a former stockbroker with Waddell & Reed, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he committed the fraudulent conversion of customer funds. Letter of Acceptance, Waiver and Consent, No. 2016051508101 (Oct. 13, 2016). According to the AWC, […]

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Aegis Capital Corp Named in Customer Arbitration Alleging Excessive Trading

David Perez, of New York, New York, a stockbroker registered with Aegis Capital Corp., has been named in a pending customer initiated investment related arbitration action, in which the customer requested $79,548.00 in damages based upon allegations that Perez effected excessive trades in the customer’s account, failed to follow the customer’s instructions, and was ultimately […]

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NBC Securities Named in Customer Arbitrations Alleging Unsuitability

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

Dennis H. Cambal, of Yarmouth, Massachusetts, a stockbroker registered with NBC Securities, Inc., has been named in ten customer initiated investment related arbitration claims, according to FINRA Public Disclosure. Particularly, on March 24, 2015, Cambal settled a customer initiated investment related arbitration claim for $24,999.00 in damages based upon allegations that Cambal effected unsuitable investment […]

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Newbridge Securities Stockbroker Subject To Customer Arbitration Alleging Unsuitability

William K. Bradley, of New York, New York, a stockbroker formerly with Newbridge Securities Corporation, now associated with Meyers Associates, has been named in a pending customer initiated investment arbitration claim, in which the customer has requested $30,236.00 in damages based upon allegations that Bradley effected unsuitable investments in the customer’s account. FINRA Public Disclosure […]

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Rothschild Lieberman Named In Customer Arbitration Alleging Fraud

Bishoy G. Mankarios, of Syosset, New York, a stockbroker formerly associated with Rothschild Lieberman LLC, has been named in a customer initiated investment related arbitration claim, in which the customer has requested $130,000.00 in damages based upon allegations that Mankarios breached his fiduciary duty and contractual obligations with the customer, effected unsuitable investment transactions, churned […]

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Centaurus Financial Names in Customer Arbitration Claim Alleging Misrepresentation

Jan E. Haynes, of La Jolla, California, a stockbroker formerly registered with Centaurus Financial, Inc., has been named in twelve customer initiated investment arbitration actions, according to FINRA Public Disclosure. Particularly, on July 17, 2014, Haynes settled a customer initiated investment arbitration action for $22,500.00 in damages based upon allegations that Haynes misrepresented facts to […]

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Alexander Capital Stockbroker Charged With Churning

Barry T. Eisenberg, of New York, New York, a stockbroker registered with Alexander Capital, L.P., has been named in a Complaint initiated by The Office of Montana State Auditor, Commissioner of Securities and Insurance, which alleged that Eisenberg failed to supervise the sales practices of two registered registered representatives, Joseph Connolly and William Gennity, who […]

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Securities America Named In Customer Arbitration Claim Alleging Unsuitability

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

Matthew A. Bell, of San Antonio Texas, a stockbroker formerly registered with Securities America, Inc., has been named in a customer initiated investment related arbitration claim on December 8, 2015, in which the customer requested $5,000.00 in damages based upon allegation that Bell breached his fiduciary duty to the customer and made investment recommendations which […]

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Southwest Securities Stockbroker Charged With Securities Fraud

Wade Lawrence, of Dallas, Texas, a stockbroker formerly registered with Southwest Securities, Inc., was charged by The United States Securities and Exchange Commission (SEC) in a Complaint alleging that Lawrence defrauded customers and breached his fiduciary obligations by way of Lawrence’s unauthorized trades and misrepresentations. Securities and Exchange Commission v. Wade James Lawrence, Case No. […]

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Former SWS Financial Services Stockbroker Suspended For Unsuitable Trading

David Randall Lockey, of Dallas, Texas, a stockbroker formerly registered with SWS Financial Services, Inc., was fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member, ordered to provide restitution of $5,329.75, and disgorged of $46,447.38 per a FINRA Order Accepting Offer of Settlement containing findings that Lockey […]

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Legend Securities Named In Churning Claim

Jason H. Klabal, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., disclosed several customer initiated investment related arbitration claims. Specifically, on November 17, 2015, Klabal settled a customer initiated investment related arbitration claim for $50,000.00 in damages based upon allegations that Klabal was responsible for the customer’s losses on an […]

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Herbert J Sims Stockbroker Named in Customer Arbitration

Michael B. Stern, of Boca Raton, Florida, a stockbroker formerly registered with Herbert J. Sims & Co. Inc., has been named in a customer initiated investment related arbitration claim on May 18, 2016, in which the customer requested $50,000.00 in damages based upon allegations that Stern made unsuitable investment recommendations, breached his fiduciary duty, and […]

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Sagepoint Financial Named In Customer Unsuitability Claim

Bruce A. Slater, of Northville, Michigan, a stockbroker with Sagepoint Financial, Inc. was named in a customer initiated investment related arbitration claim on February 8, 2016, in which the customers requested $500,000.00 in damages based upon allegations that Slater misrepresented the nature, fees, and risks associated with investment products that were recommended to the customers. […]

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Leavitt F. Sanders Named in Forty Two Customer Arbitration Claims

Leavitt F. Sanders, of West Point, Georgia, a stockbroker formerly registered with Triad Advisors, Inc., was named in a customer initiated investment related arbitration claim on August 15, 2016, in which the customers requested $3,835,000.00 in damages based upon allegations that Sanders effected an investment strategy for customers which was not suitable. From December 15, […]

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Lisa Lowi Customer Claims Against RBC Capital Markets Continue

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

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

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Caldwell International Securities Stockbroker Suspended For Unsuitable Recommendations

November 02, 2016  |   Posted by :   |   Boilerroom, Stockbroker Fraud News, Strategic Return Notes   |   0 Comments

Richard Lee, of Englewood Cliffs, New Jersey, a stockbroker formerly registered with Caldwell International Securities Group, was suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Order Accepting Offer of Settlement containing findings that Lee made unsuitable investment recommendations. Department of Enforcement v. Richard Lee, […]

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Pin Financial LLC Stockbroker Barred In Investigation

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

Tobin J. Senefeld, of Carmel, Indiana, a stockbroker with Pin Financial, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations that Senefeld engaged in a Ponzi scheme. Letter of Acceptance, Waiver and Consent, No. 2015045728801 (Oct. […]

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Aegis Capital Corp Stockbroker Suspended For Unauthorized Trading

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

Stephen Giannantonio, of New York, New York, a stockbroker with Aegis Capital Corp., was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unauthorized discretionary trading. Letter of Acceptance, Waiver and Consent, No. 2015047426901 (Oct. 4, 2016). According to […]

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Wells Fargo Advisors Stockbroker Barred For Fraud

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

Donald Shelby Toomer, of Las Vegas, Nevada, a stockbroker formerly associated with Wells Fargo Advisors Financial Network, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per a FINRA Officer of Hearing Officers Expedited Hearing Panel Decision containing findings that Toomer refused to cooperate with a FINRA […]

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Oppenheimer Stockbroker Named in Customer Fraud Claim

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

Jeremy D. Hare, of Philadelphia, Pennsylvania, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been named in a pending customer initiated investment related arbitration claim on September 14, 2016, in which the customer requested $1,000,000.00 in damages based upon allegations that Hare charged the customer with excessive commissions, committed negligence, breached his fiduciary […]

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Legend Securities Stockbroker Named in Churning Claim

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

Daren F. Dorval, of Staten Island, New York, a stockbroker with Legend Securities Inc., has been named in a pending customer initiated investment related arbitration claim on April 10, 2015, in which a customer requested $150,000.00 in damages based upon allegations against Dorval of making false statements to the customer concerning investments, failing to abide […]

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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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Vanderbilt Securities Stockbroker Named In Customer Arbitration Claim

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

Mark Kaplan, of Woodbury, New York, a stockbroker with Vanderbilt Securities, LLC, was named in a customer initiated investment related arbitration claim on February 15, 2016, in which the customer has requested $1,130,000.00 in damages per allegations against Kaplan of effecting unsuitable investment transactions for the customer. FINRA Public Disclosure reveals that Kaplan has been […]

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Former Stifel Nicolaus Stockbroker Barred In Investigation

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

Jay J. Gruenebaum, of Zanesville, Ohio, a stockbroker formerly registered with Stifel, Nicolaus & Company, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations that Gruenebaum mishandled customer accounts. Letter of Acceptance, Waiver and Consent, No. […]

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Former UBS Financial Services Stockbroker Barred In Investigation

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

Jeffrey Hamilton Howell, of Chesterfield, Missouri, a stockbroker formerly registered with UBS Financial Services, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he made misstatements to a customer concerning account values, attempted to conceal such conduct by altering firm statements, and […]

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New England Securities Stockbroker Suspended For Unsuitable Recommendations

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

Robert P. Lappin, of Las Vegas, Nevada, a stockbroker formerly associated with New England Securities, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he made unsuitable recommendations to customers regarding unit investment trusts. Letter of Acceptance, Waiver and Consent, No. […]

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Dawson James Stockbroker Named In Customer Arbitration Claim

Carlo W. Corzine, of Boca Raton, Florida, a stockbroker with Dawson James Securities, Inc., has been named in a customer initiated investment related arbitration claim on June 22, 2016, in which the customer requested $60,000.00 in damages based upon allegations against Corzine of effecting unauthorized trades in the customer’s account, breaching his fiduciary duty, making […]

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Fackrell Felon LPL Financial Stockbroker Named in Customer Arbitration Claim

Charles C. Fackrell, of Yadkinville, North Carolina, a stockbroker formerly registered with LPL Financial LLC, has been named in a pending customer initiated investment related arbitration claim on June 10, 2016, in which the customer alleged that Fackrell made unauthorized and excessive trades in the customer’s account, effected transactions in the customer’s account which were […]

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Former Global Arena Capital Stockbroker Named In Customer Arbitration Claim

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

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

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Another Coastal Equities Stockbroker Caught Stealing

Michael Donnelly, of Lecanto, Florida, a stockbroker formerly associated with Coastal Equities, Inc., was named in a pending customer initiated investment related arbitration claim on July 1, 2016, in which the customer has requested $53,183.00 in damages based upon allegations against Donnelly of misappropriating the customer’s assets that the customer provided him for investment opportunities. […]

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Merrill Lynch Stockbroker Named In Customer Arbitration Claim

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

Heather P. Weber, of Tampa, Florida, a stockbroker with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a pending customer initiated investment related arbitration claim on July 7, 2016, in which the customer requested $500,000.00 in damages based upon allegations that Weber made omissions and misrepresentations to the customer concerning investments, and […]

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Aegis Capital Corp Stockbroker Named In Customer Arbitration Claim

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

Alan Z. Appelbaum, of Boca Raton, Florida, a stockbroker with Aegis Capital Corp., has been named in a pending customer initiated investment related arbitration claim on December 21, 2015, in which the customer has requested $50,000.00 in damages based upon allegations against Appelbaum of failing to adopt an investment strategy that was suitable for customers […]

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Customer Clams Mount Against Next Financial Group

Charles C. Kulch, of Nashua, New Hampshire, a stockbroker with Next Financial Group, recently disclosed that he settled a customer dispute for $120,000.00 on June 22, 2016, based upon allegations that Kulch mismanaged the customer’s securities account. FINRA BrokerCheck reveals that Kulch has been subject to seven other customer disputes. Particularly, on April 21, 2015, […]

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Markel Newton Expelled For Lying About Private Placement Offerings

Markel Newton, also known as DT Securities, headquartered Toluca Lake, California, as well Daniel Markel, the firm’s president, owner, and chief compliance officer, and chief executive officer, were censured by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm and Markel, inter alia, made misrepresentations to customers and engaged in unsuitable investment […]

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Trustmont Financial Group Fined For Failure To Supervise Unit Investment Trusts

Trustmont Financial Group, Inc., headquartered in Greensburg, Pennsylvania, was fined $100,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm, inter alia, did not properly supervise unit trusts transactions, and failed to adequately supervise consolidated reports which the firm distributed to customers. Letter of Acceptance, Waiver and Consent, No. 2014038914601 (Sept. […]

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Larson Financial Securities Stockbroker Suspended For Misrepresentations

October 15, 2016  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Robert R. Frith II, of Minnetonka, Minnesota, a registered representative with Larson Financial Securities LLC, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that made misleading statements to customers concerning variable life insurance contracts. Letter of Acceptance, Waiver and Consent, No. […]

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Morgan Stanley Sued For Barred Stockbroker Fiduciary Duty Claims

October 15, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Justin Amaral, of Boston, Massachusetts, a stockbroker with Morgan Stanley, became subject to a pending customer dispute on February 4, 2016, in which the customer requested $750,000.00 in damages in connection with allegations against Amaral which included Amaral breaching his fiduciary duty to the customer pertaining to investments. FINRA BrokerCheck reveals that Amaral has been […]

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Next Financial Group Stockbroker Barred In Conversion Investifgation

Tye C. Williams, of Frisco, Texas, a stockbroker with Next Financial Group, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm any capacity after he consented to findings that he obstructed an investigation into allegations that Williams converted funds from customers, effected transactions in customer accounts which were unauthorized, […]

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SII Investments Named in Customer Securities Arbitration Claim

Thomas Fross, of The Villages, Florida, disclosed that a customer received a judgment or award against him for $24,000.00 in damages based upon the allegations that Fross breached his fiduciary duty and contractual obligations to the customer, made omissions and misrepresentations to the customer with regard to investments, and made unsuitable investment recommendations. FINRA BrokerCheck […]

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Euro Pacific Capital Stockbroker Named in FINRA Arbitration Claim

Neal Scott, of New York, New York, a stockbroker formerly associated with with Euro Pacific Capital, Inc., and presently registered with Meyers Asociates, is subject to a pending customer dispute from September 9, 2015, in which the customer requested $150,000.00 in damages based upon allegations that Scott breached his fiduciary duty to his customer, and […]

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JP Morgan Securities Stockbroker Suspended For Selling Away

October 15, 2016  |   Posted by :   |   Selling away, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Nathan A. Majors, of South Holland, Illinois, a stockbroker with J.P. Morgan Securities LLC, was fined $5,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in outside business activities which were not permitted by his firm. Letter […]

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BAC Florida Investments Stockbroker Charged With Fraud

October 15, 2016  |   Posted by :   |   Excessive Markups, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Alejandro Falla, of Coral Cables, Florida, a stockbroker with BAC Florida Investments, was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Falla had fraudulently charged mark-ups to customers. Department of Market Regulation v. Falla, No. 20160500923-01 (Sept. 26, 2016). According to the Complaint, Falla worked in the capacity […]

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Customer Securities Arbitration Claim Against Euro Pacific Capital Stockbroker

John W. Catalfio, of Scottsdale, Arizona, a stockbroker with Euro Pacific Capital, Inc., is subject to a pending customer dispute from April 13, 2015, in which the customer requested $600,000.00 in damages based upon allegations that Catalfio churned the customer’s account, and effected unsuitable investment recommendations. On October 10, 2014, Catalfio became subject to a […]

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Another Stockbroker Barred for Failure to Pay Customer Fraud Claim

Thomas J. Tedeschi, of Farmingdale, New York, a stockbroker with Salmon Whitney Financial, was suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after FINRA found that Tedeschi failed to abide by a settlement agreement or arbitration award in connection with a customer dispute. In late 2015, the FINRA […]

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Defunct Avenir Financial Group Stockbroker Allen Subject of Arbitration Claim

October 15, 2016  |   Posted by :   |   Boilerroom, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

David A. Allen, of Bethel, Vermont, one of the owners of defunct Avenir Financial Group, is subject to a pending customer dispute from January 14, 2016, in which the customer is seeking $110,000.00 in damages based upon allegations that Allen effected trades without the customer’s authorization, engaging in unsuitable investment practices, generated excessive commissions, and […]

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Churn Them and Burn Them Salomon Whitney’s Ford Arbitrations Abound

October 15, 2016  |   Posted by :   |   Boilerroom, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Wayne Fitzgerald Ford of Farmingdale, New York, a stockbroker formerly with Salomon Whitney Financial, but now out of the business is the subject of a pending customer dispute from March 14, 2016, in which the customer requested $50,000.00 in damages based upong the allegations that Ford breached his contractual and fiduciary obligations and effecting unsuitable transactions […]

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Customer Arbitration Claims Against Salomon Whitney Financial Continue

Michael L. Oromaner of Farmingdale, New York, a stockbroker formerly with Salomon Whitney Financial, and now associated with Cova Capital Partners is subject to a pending customer dispute from March 23, 2016, where a customer requested $750,000.00 in damages in connection with allegations against Oromaner of utilizing high pressure sales techniques, effecting unsuitable investment transactions, churning […]

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Customers Continue to Sue Saljooki for Fraud

October 15, 2016  |   Posted by :   |   Boilerroom, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Yousuf Saljooki, also known as Joe Saljooki, of Farmingdale, New York, a stockbroker with Salomon Whitney Financial, is subject to a pending customer dispute from March 23, 2016, in which several customers requested $300,000.00 in damages in connection with allegations against Saljooki of effecting investment transactions which were unsuitable, churning the customers’ investment accounts, charging […]

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Network One Financial Securities Subject of Another Unsuitability Claim

Wesley O. Clinton, of Lynbrook, New York, a stockbroker with Network One Financial Securities Inc., is subject to a customer dispute from March 28, 2016, seeking $137,000.00 in damages based upon the allegations that Clinton engaged in unsuitable transactions, effected unauthorized trades in the customer’s account, and that Network One failed to supervise him. FINRA […]

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Customer Claims Mount Against Dawson James Securities

October 15, 2016  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

James R. Bernthal, of New York, New York, a stockbroker with Dawson James Securities, has been named in pending customer initiated investment related claim filed on  March 28, 2016 seeking  $137,000.00 in damages based upon allegation that Bernthal effected unsuitable transactions in customer accounts and that Dawson James failed to supervise Bernthal. FINRA Public Disclosure […]

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Regulators Sanction Caldwell International Broker for Unsuitable Recommendations

October 15, 2016  |   Posted by :   |   Boilerroom, Excessive trading, Stockbroker Fraud News   |   0 Comments

Lucas Lichtman, of Englewood Cliffs, New Jersey, a stockbroker for Caldwell International Securities Group, was fined $7,500.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Order Accepting Offer of Settlement containing findings that Lichtman engaged in unsuitable investment recommendations. Department of Enforcement v. […]

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Legend Securities Sued for Unauthorized Trading

Marlon O. Cole, of New York, New York, a stockbroker formerly associated with Legend Securities, Inc., is the subject of a pending customer dispute filed in January against Legend Securities in which the customer has requested damages based upon allegations that Cole of effected unauthorized trades in the customer’s account. FINRA Public Disclosure records reveal that […]

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Spartan Capital Securities Sued by Customer for Unsuitability

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Robert J. Murray III, of New York, New York, a stockbroker formerly ssociated with Spartan Capital Securities, LLC, is the subject of a customer initiated, investment related dispute filed in November 12, 2015, based upon the allegation that  Murray made unsuitable investment recommendations. FINRA BrokerCheck reveals that Murray has been subject to eleven customer initaited, investment […]

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Laidlaw Sued by Customer for Sale of Unsuitable Investments

Joseph M. Fedorko Jr., of New York, New York, a stockbroker with Laidlaw & Company, Ltd. is subject to a customer dispute filed on August 8, 2016, in which he was alleged by the customer to be responsible for the customer’s investment losses on bond investments. Prior to this action, Fedorko was also subject to […]

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Dawson James Securities Named In Customer Arbitration For Misrepresentation

October 11, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Patrick H. Maddren, of Boca Raton, Florida, a stockbroker formerly associated with Dawson James Securities, Inc., became subject to a pending customer dispute from March 31, 2016, in which the customer has requested $1,000,000.00 in damages after alleging that Maddren made misrepresentations concerning investments to the customer, did not follow the customer’s instructions, engaged in […]

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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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Trident Partners Sued by Customers for Unsuitability

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Timothy V. Longo, of Woodbury, New York, a stockbroker formerly with Trident Partners Ltd., is the subject of a pending customer dispute in which the customer has requested in damages based upon the allegation that Longo engaged in unauthorized and unsuitable trading in the customer’s account. FINRA BrokerCheck reveals that Longo has been previously subject […]

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COR Clearing Services Names in Customer Fraud Arbitration

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Christopher Cervino, of Edison, New Jersey, a stockbroker with COR Clearing LLC, is subject to a pending customer dispute in which a customer has requested $778,119.00 in damages in connection with allegations against Cervino of perpetrating a fraud involving the sale of valueless securities to customers. FINRA Public Disclosure records reveal that Cervino is also […]

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Concorde Investment Services Sued For Misrepresentation

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News, Tenants in Common   |   0 Comments

Frank T. Dunn Jr., of Bend, Oregon, a stockbroker with Concorde Investment Services, LLC, is the subject of a pending customer dispute in which the customer has requested $452,368.15 in damages based upon with allegations that Dunn breached his fiduciary duty, was negligence, and made  misrepresentations in connection with the recommendation and sale of a […]

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EJ Sterling Named in Customer Arbitration Alleging Unsuitability

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Michael D. Teutonico, of New York, New York, a stockbroker formerly associated with E.J. Sterling, LLC, is subject to a pending customer dispute from October 29, 2015, in which the customer has requested $206,000.00 in damages in connection with allegations against Teutonico of engaging in unsuitable investment practices, excessively trading the customer’s account, and over-concentrating […]

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PHX Financial Stockbroker Named in Customer Suitability Claim

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Marc A. Reda, of New York, New York, a stockbroker formerly with PHX Financial, Inc. is the subject of a customer intiated, investment related dispute where Reda was alleged to to have breached his fiduciary duty and made unsuitable investment recommendations. FINRA Public Disclosure records reveal that Reda has been previously subject to nine customer […]

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First Standard Financial Named In Customer Arbitration Claim

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Laurence M. Torres, of Staten Island, New York, a stockbroker with First Standard Financial Company LLC, is subject to a customer dispute from March 22, 2016, in which the customer requested damages of $99,999.00 based upon the allegation that  Torres engaged in unsuitable investment practices, breached his fiduciary duty to the customer, and churned the […]

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Maxim Group Stockbroker Named in Customer Suitability Claim

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Mark Ketner, of Woodbury, New York, a stockbroker with Maxim Group LLC, was named in a customer intiiated investment related claim where the customer has requested $475,000.00 in damages based upon the allegation that Ketner made excessive and unsuitable trades of investments in the customer’s account. FINRA’s BrokerCheck also reveals that Ketner has been subject […]

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Customer Brings Claim Against PHX Financial For Unauthorized Trading

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Salvatore Gioe, of New York, New York, a stockbroker formerly with PHX Financial, Inc., is the subject of a customer initiated investment related complaint where the customer is requesting $1,400,000.00 in damages based upon the allegations that Gioe engaged in unauthorized trading in the customer’s account. This brings the total number of customer claims based […]

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Customer Brings Arbitration Claim Against Herbert J Sims & Company

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Larry C. Wolfe, of Boca Raton, Florida, a stockbroker with Herbert J. Sims & Co., Inc., is the subject of an investment related customer initiated arbitration claim before the Financial Industry Regulatory Authority where the customer is seeking $1,500,000.00 in damages based upon the allegations that Wolfe engaged in fraudulent omissions and misrepresentations concerning investments, […]

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Customers Bring Arbitration Claim for Fraud Against National Securities Corp

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Michael McMahon, of Westbury, New York, a stockbroker with National Securities Corporation, is presently subject to eight customer initiated investment related arbitration claims alleging fraud.  The customer disputes, which appear to have been lodged between July 20, 2015, and June 20, 2016, all contain allegations that McMahon made negligent misrepresentations to customers, breached his fiduciary to […]

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National Securities Named in Customer Misrepresentation Claim

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Sean P. McCabe, of Westbury, New York, a stockbroker with formerly with National Securities Corporation, is the subject of a customer customer initiated investment related claim in which the customer seeks $550,000.00 in damages based upon the allegations that McCabe committed negligence, breached his fiduciary duty to the customer, and made misrepresentations concerning investments. In […]

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H Beck Stockbroker Subject of Customer Securities Arbitration

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Stephen H. Orr, of Houston, Texas, a stockbroker with H. Beck, Inc., has been named in  a customer dispute where the customer is seeking $5,000,000.00 in damages based upon the allegations that Orr made unsuitable investment recommendations. FINRA’s BrokerCheck reveals that Orr has been previously subject to five other disclosure incidents, three of which involve […]

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COR Clearing LLC Customer Brings Arbitration Claim Against Broker

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Rafael Santiago, of Edison, New Jersey, a stockbroker with COR Clearing, LLC,  has been named in a  customer dispute where the customer has requested $778,119.00 in damages based upon the allegations that Santiago made recommendations to purchase securities that were valueless and engaged in a scheme to defraud the investor. According to FINRA BrokerCheck, Santiago […]

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Customer Brings Suitability Claim against Trident Partners

October 11, 2016  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Theodore Allocca Jr. of Woodbury, New York, a stockbroker with Trident Partners Ltd., has been named in a customer dispute seeking $400,000.00 in damages based upon the allegatoin that Allocca made unsuitable investment recommendations and was responsible for the customer’s poor investment performance. According to FINRA Public Disclosure Records, Allocca settled a customer dispute from […]

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Customer Brings Arbitration Claim Against VFG Securities For Misrepresentation

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Mark Trewitt, of Plano, Texas, a stockbroker with VFG Securities, Inc., has been named in a customer initated investment related dispute.  On June 29, 2016, a customer filed an arbitration claim before the Financial Industry Regulatory Authority requesting $130,000.00 in damages and alleging that Trewitt made misrepresentations concerning the safety of an investment program and […]

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Gilford Securities Stockbroker Named In Customer Arbiotration Claim

October 11, 2016  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Samuel D. Wyman, Jr., of Westhampton Beach, New York, a stockbroker with Gilford Securities Incorporated, is subject to a pending customer dispute from August 14, 2015, in which the customer requested $175,000.00 in damages after alleging that Wyman made unsuitable investment recommendations. FINRA Public Disclosure records reveal that Wyman has been previously subject to customer […]

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Customer Sues Feltl Stockbroker For Sale of Unsuitable Investments

October 11, 2016  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Bernard T. Weber, of Minnetonka, Minnesota, a stockbroker with Feltl & Company, is subject to a pending customer dispute from November 24, 2015, in which the customer has requested $238,000.00 in damages after alleging that Weber failed to follow the customer’s investment instructions, made misrepresentations to the customer concerning investments, and churned the customer’s investment […]

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Feltl Stockbroker Settles Unsuitable Investments Claim

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Shawn M. McIntyre, of Minneapolis, Minnesota, a stockbroker for Feltl & Company, has settled a customer dispute for $300,000.00 in damages after the customer alleged that McIntyre made misrepresentations to the customer, engaged in excessive trading, and failed to properly disclose to the customer the risks associated with investing in low priced penny stocks. On […]

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Customer Sues Northland Securities For Fraud

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Richard J. Reynolds, of Minneapolis, Minnesota, a stockbroker with Northland Securities, is currently subject to a pending customer dispute from August 22, 2014, in which the customer has requested $680,935.80 in damages in connection with allegations against Reynolds of committing securities fraud, breach of contract, and breach of his fiduciary duty to the customer pertaining […]

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Customer Seek to Kill Gill In Suitability Claim

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Kirk J. Gill, of Tucson, Arizona, a stockbroker with Morgan Stanley, is subject to several pending customer disputes. Particularly, on August 3, 2016, a customer lodged a pending dispute against Gill, in which the customer requested $500,000.00 in damages after alleging that Gill made recommendations to the customer that were unsuitable. FINRA’s BrokerCheck reveals that […]

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MML Investors Services Broker Barred In FINRA Investigation

Paul E. Smyth, of Fairfield, Connecticut, a registered representative with MML Investors Services, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations of misappropriating a customer’s insurance payments. According to the AWC, MML Investors Services […]

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NYLife Securities, the Stockbroker that Sneaked

October 11, 2016  |   Posted by :   |   Embezzlement, Stockbroker Fraud News   |   0 Comments

John P. Mosley, of Westbrook, Maine, a stockbroker with NYLife Securities LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after he consented to findings that he converted customer funds. Letter of Acceptance, Waiver and Consent, No. 2016051400601 (Sept. 30, 2016). According to the AWC, while […]

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Customer Bring Suitability Claima Against UBS Financial Services

October 11, 2016  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Robert M. Kuhn, of Plano, Texas, a stockbroker with UBS Financial Services Inc., is subject to a arbitration claim by a customer requesting $100,000.00 in damages because allegedly Kuhn misrepresented an annuity that the customer purchased, and made an unsuitable investment recommendations. FINRA Public Disclosure records show that on October 20, 2015, UBS Financial Services […]

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Customer Sues Southwest Securities For Investments Gone South

October 11, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Things are headed south for Southlake, Texas, Southwest Securities stockbroker Richard M. Ohlhaber, after he and his firm have been named in another customer dispute, this one seeking 300,000.00 in damages in for securities fraud. This is not the first time things have gone south for Ohlhaber. FINRA’s BrokerCheck reveals that Ohlhaber is also subject […]

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Customers Claim Stockbroker Smookler Snooked Them In Churning Cases

October 10, 2016  |   Posted by :   |   Boilerroom, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Francis L. Smookler Jr., of Syosset, New York, a stockbroker with Cova Capital Partners has been named in a customer dispute in which numerous customers have collectively requested $7,500,000.00 in damages after alleging that Smookler engaged in the churning of customer accounts, made unsuitable investment recommendations, utilized high pressure sales tactics, and charged customers with hidden […]

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Fraud Claim Made Against IMS Securities

October 10, 2016  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Terry W. Chilton, of Beaumont, Texas, a stockbroker with IMS Securities, Inc., is subject to a customer dispute from March 7, 2016, in which a customer alleged that Chilton made misrepresentations concerning investments, and engaged in the unsuitable recommendations. FINRA Public Disclosure records also reveal that on September 16, 2013, a customer was awarded $1,172,250.00 […]

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Customers File Arbitration Against Reef Securities For Failure To Supervise

Harris W. Kirk, of Richardson, Texas, a stockbroker Reef Securities, Inc., is subject to a pending customer dispute from February 11, 2016, in which a customer has requested $250,000.00 in damages after alleging that Kirk failed to conduct due diligence concerning investments, failed to disclose investment risks to the customer, committed breach of contract, and […]

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Unsuitable Recommendations Cost Investors Capital Corporation $1 million

October 10, 2016  |   Posted by :   |   Steepeners, Stockbroker Fraud News, Unit Investment Trusts   |   0 Comments

Investors Capital Corporation, headquartered in Lynnfield, Massachusetts, was censured and fined $250,000.00 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm engaged in the unsuitable recommendations of unit investment trusts and steepeners to customers. Letter of Acceptance, Waiver and Consent, No. 2013035035901 (Oct. 3, 2016). According to the AWC, between June […]

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Excessive Markups Land Suspension for Further Lane Securities Stockbroker

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

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

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SEC Fines UBS Financial $9 Million in connection with sale of Reverse Convertible Notes

September 28, 2016  |   Posted by :   |   Reverse Convertible Securities, Stockbroker Fraud News   |   0 Comments

Reverse Convertible Notes are highly complex financial products that are structured to pay a higher interest rate than conventional debt of the same issuer because of the inclusion of the embedded derivative that provides essentially a synthetic put on the underlying stock. Investors get the higher rate of return which is capped, if the underlying […]

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Puerto Rican Bonds Land CUSO Financial Stockbroker In Fraud Lawsuit

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

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

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Customer Arbitration Claim Filed Against Shrewsbury Morgan Stanley Stockbroker

September 28, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Ralph B. Marra, of Shrewsbury, New Jersey, a stockbroker formerly with Morgan Stanley, became subject to a pending customer dispute from August 23, 2016, in which the customer alleged that Marra made unsuitable recommendations of investments to the customer. In May 2015, Marra left Morgan Stanley and became registered with National Securities operating from a […]

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Wrecked Werbel Wobbled With Customer Fraud Claim

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

Much to his chagrin, Larry S. Werbel, of Chagrin Falls, Ohio, a former stockbroker for Concorde Investment Services, LLC, whose career was wrecked when he was forever barred by FINRA earlier this year, is now subject to a pending customer dispute from August 3, 2016, in which the customer requested $778,119.36 in damages after alleging […]

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Customers Sue VSR Financial Services Stockbroker For Fraud

Steven L. Stahler, of Baton Rouge, Louisiana, is subject to a pending customer dispute from July 20, 2015, in which the customer requested $793,101.00 in damages in connection with allegations against Stahler of failing to diversify the customer’s investments that had been recommended by Stahler to the customer. According to FINRA Public Disclosure, Stahler has […]

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Invest Capital Stockbroker Hannett Sued for $5 Million

September 28, 2016  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

David L. Hannett Sr., of Vienna, Virginia, a stockbroker with Invest Financial Corporation, is subject to a pending customer dispute from March 10, 2015, in which the customer has requested $5,000,000.00 after alleging that Hannett mishandled the customer’s investment account assets. Public Disclosure records also reveal that on March 9, 2012, Hannett settled a customer […]

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Customers Able to Sue Aibel For Inability to Recommend Appropriate Investments

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

Benjamin G. Aibel, of New York, New York, a stockbroker with Wunderlich Securities, Inc., is currently subject to a pending customer dispute from December 18, 2015, in which the customer has requested $5,000.00 amid allegations against Aibel for recommending unsuitable investments, and causing the customer to suffer from poor investment performance. Aibel is also subject […]

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Customers Allege The $3 Million Bloom is Off Wunderlich’s DeRose

September 27, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Ralph E. Derose, of Beachwood, Ohio, a stockbroker with Wunderlich Securities, Inc., is subject to a pending customer dispute from March 15, 2016, in which the customer has requested $3,000,000.00 in damages amid allegations against Derose of failing to follow the customer’s investment instructions and poor investment performance. Public Disclosure records reveal that in addition […]

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Misrepresentation Action Against Wunderlich’s Texas Roark

September 27, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Murray B. Roark, of Dallas, Texas, a stockbroker with Wunderlich Securities, Inc., is subject to a pending customer dispute from February 17, 2016, in which the customer requested $303,950.00 in damages after alleging that Roark failed to diversify the customer’s assets, over-concentrated the customer’s positions, and engaged in misrepresentation regarding investments. Public Disclosure Records show […]

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Customer Sues IFS Securities Stockbroker Mike Hebner for Unsuitability

September 27, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Michael J. Hebner, a stockbroker with IFS Securities, is subject to a pending customer dispute from May 3, 2014, in which customers have requested $500,000.00 in damages after alleging that Hebner made unsuitable investment recommendations, and engaged in unauthorized transactions in the customers’ accounts. Hebner has been the subject of five customer initiated investment related […]

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No Wonder Wunderlich Securities Stockbroker Sued For Unsuitability

September 27, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Bassam S. Salem, of Birmingham, Michigan, a stockbroker with Wunderlich Securities, Inc., is subject to a pending customer dispute from May 3, 2016, in which the customer has requested $281,000.00 in damages amid allegations against Salem of engaging in unauthorized trading, failing to supervise, breach of fiduciary duty, and making unsuitable investment recommendations in several […]

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VSR Financial Services Sued By Customers for Unsuitability

Charles Geraci, of The Woodlands, Texas, a stockbroker for VSR Financial Services, Inc., is subject to a pending customer dispute from July 25, 2016, in which the customer has requested $500,000.00 in damages after alleging that Geraci made unsuitable investment recommendations in alternative investments and private placement investments. According to FINRA Public Disclosure Records,  Geraci […]

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Customer Claims Mount Against Alexander Capital Stockbroker Castillero

September 27, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Michael A. Castillero, of New York, New York, a stockbroker with Alexander Capital, L.P., is subject to a pending customer dispute from July 19, 2016, in which the customer has requested $190,000.00 in damages after alleging that Castillero made negligent misrepresentations, effected unauthorized trades in the customer’s account, and engaged in unsuitable investment recommendations. On […]

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The Next Lawsuit Filed Against Next Financial Group For Mismanagement

September 27, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Joseph L. Cotter, of Wall, New Jersey, a stockbroker formerly with Next Financial Group, Inc., is subject to a pending customer dispute from June 22, 2016, in which a customer has requested $625,000.00 in damages in connection with allegations against Cotter of mismanaging the customer’s brokerage assets. Public Disclosure records also reveal that on March […]

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Concorde Broker Barry LeMay May Owe His Customers Almost $3 Million

September 27, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Barry W. Lemay, a stockbroker with Concorde Investment Services, LLC, is currently subject to a pending customer dispute from July 29, 2016, in which a customer has requested $2,822,797.02 in damages in connection with allegations against Lemay of breach of fiduciary duty, negligence, and unsuitable recommendations stemming from tenancy in common investments. FINRA Public Disclosure […]

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It Ain’t Over for Sterne Agee Broker Gary Glover

September 27, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News, Tenants in Common   |   0 Comments

Gary L. Glover, of John’s Creek, Georgia, a stockbroker with Sterne Agee Financial Services, Inc., is subject to a pending customer dispute from August 12, 2015, in which a customer has requested $800,000.00 in damages in connection with allegations against Glover of making unsuitable tenancy in common or TIC investment recommendations. Public Disclosure records reveal […]

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Customers Rush to Sue Newport Coast Securities Stockbroker Rushton Audrey

September 27, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Rushton L. Ardrey III, of Boston Massachusetts, a stockbroker with Newport Coast Securities, Inc., is currently subject to pending customer disputes. Particularly, on February 9, 2016, Ardrey became subject to a pending customer dispute in which he was alleged to have engaged in unauthorized and unsuitable trading. According to FINRA Public Disclosure Records, Ardrey has […]

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New England Securities Broker Banned for Sale of Fake Investments

September 27, 2016  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

James Paul Kolf, of Middleton, Wisconsin, a stockbroker with New England Securities, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he made fraudulent misrepresentations to customers. Letter of Acceptance, Waiver and Consent, No. 2016050940701 (Sept. 6, 2016). According to the AWC, from […]

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Unit Investment Trust Fraud Results In Suspension of Wayward Stockbroker

September 27, 2016  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unit Investment Trusts   |   0 Comments

Richard Graham, of Lafayette, Indiana, a stockbroker registered with The Huntington Investment Company, was fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and Consent, No. 2015046281401 (Sept. 29, 2016). According […]

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Hawaiian Real Estate Scam Results in Supervisors Suspension For Failure To Supervise

September 27, 2016  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Michael Scott Lincoln, of San Diego, California, a stockbroker with LPL Financial, was fined $15,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he failed to supervise unauthorized outside business activities and unauthorized loans, and falsified statements to his firm. Letter of Acceptance, […]

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E Trade Securities Stockbroker Suspended For Making Bad Bets

September 27, 2016  |   Posted by :   |   Selling away, Stockbroker Fraud News   |   0 Comments

Steven Mark Newman, of Houston, Texas, a stockbroker with E*Trade Securities LLC, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per a FINRA Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Newman engaged in unauthorized outside business activities. Department of […]

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Steepeners Steep a Whole Bunch of Regulatory Troubles for Already Troubled Stockbroker

September 27, 2016  |   Posted by :   |   Steepeners, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Robert Estevez, of Greenwich, Connecticut, a stockbroker with Investors Capital Corporation, was fined $20,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and Consent, No. 2014040158902 (Sept. 16, 2016). According to […]

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FINRA Charges Broker with Eighteen Complaints with Making Unsuitable Recommendations

September 27, 2016  |   Posted by :   |   Boilerroom, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Glen J. Rauch, of Syosset, New York, a stockbroker with Avenir Financial Group, Inc., was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Rauch engaged in significant sales practice violations, including the effecting of unauthorized and unsuitable transactions in customer accounts. Department of Enforcement v. Glen Rauch, No. […]

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YieldQuest Chief Compliance Officer Barred For Lying Cheating and Stealing

September 27, 2016  |   Posted by :   |   Excessive Markups, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Jay K. Chitnis, of Atlanta, Georgia, a stockbroker with YieldQuest Securities, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity in connection with a FINRA Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Chitnis committed securities fraud, converted funds, engaged in unauthorized trading, […]

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Customer Theft Case Results in Suspension of Principal For Failure to Supervise

September 27, 2016  |   Posted by :   |   Embezzlement, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Peter F. Butler, of Cambridge, Ohio, a stockbroker and principal for Ameriprise Financial Services, Inc., conducting business under the same Partners Financial Group, was fined $15,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that Butler failed to supervise a registered representative who converted […]

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Former Pinnacle Investment Stockbroker Sued for Unsuitable Recommendations

September 17, 2016  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Mark A. Stanczyk, of Manlius, New York, a stockbroker fomerly associated with Pinnacle Investments, is subject to a pending customer dispute from February 1, 2016, in which the customer has requested $490,000.00 in damages in connection with allegations against Stanczyk of making unsuitable investment recommendations and trades in the customer’s account. Disclosure records reveal that […]

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Accelerated Capital Group Stockbroker Sue By Customer For Unsuitability

September 17, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Aaron P. Brodt, of Scottsdale, Arizona, a stockbroker with Accelerated Capital Group, is currently subject to two pending customer disputes. Particularly, on April 26, 2016, a customer lodged a dispute against Brodt, in which the customer requested damages of $200,000.00 in connection with allegations against Brodt of making unsuitable investment recommendations to the customers for […]

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Customers File Arbitration Claims Against Accelerated Capital Group

September 17, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Jeffrey A. Smith, of Irvine, California, a stockbroker with Accelerated Capital Group, is subject to a customer dispute from May 25, 2016, in which four customers have requested $750,000.00 in connection with allegations against Smith for failure to supervise, negligence, breach of contract, excessively trading in customer accounts, breach of fiduciary duty, and fraud. Public […]

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Securities America Stockbroker With 39 Complaints Suspended For Unsuitable Recommendations

September 17, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Stuart Horowitz, of Coral Springs, Florida, a stockbroker with Securities America, Inc., was fined $100,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and Consent, No. 2013036692001 (Feb. […]

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Customer Fraud Case Filed Against Newport Coast Securities StockbrokerS

September 17, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

David M. Levy, of West Palm Beach, Florida, a stockbroker with Newport Coast Securities, is currently subject to a pending customer dispute. Particularly, on November 3, 2014, a customer requested $60,000.00 in damages in connection with allegations against Levy of churning the customer’s investment account. FINRA’s BrokerCheck reveals that Levy has been subject to thirteen […]

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Customers Sue Newport Coast Securities Stockbroker For Unsuitability

September 17, 2016  |   Posted by :   |   Excessive trading, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Donald A. Bartelt, of Cave Creek, Arizona, is currently subject to a pending customer dispute from May 28, 2013, in which the customer requested $113,000.00 in damages in connection with allegations against Bartelt of engaging in misconduct over several years in the customer’s investment account. Public Disclosure records reveal that Bartelt has previously settled a […]

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IFS Securities Sued By Customers For Churning

September 17, 2016  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Chad E. Thompson, of Atlanta, Georgia, a stockbroker with IFS Securities, is currently subject to a pending customer dispute from October 21, 2015, in which a customer has requested $150,000.00 in damages after alleging that Thompson made unsuitable recommendations, and churned the customers’ investment account. Public Disclosure records ‘ reveal that Thompson was previously subject to […]

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Meyers Associates Stockbroker Sued By Customers

September 17, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Michael Lavolpe, of New York, New York, a stockbroker for Meyers Associates, L.P., is currently subject to four pending customer disputes. Particularly, on April 7, 2016, a customer lodged a dispute against Lavolpe, requesting $110,480.00 in damages in connection with allegations of unsuitability. On April 7, 2016, Lavolpe became subject to another customer dispute, in […]

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Customers File Arbitration Claims Against Barred FSC Securities Corporation Broker

September 17, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Barry Hartman, of Missoula, Montana, a stockbroker registered with FSC Securities Corporation, became subject to a pending customer dispute on October 19, 2015, in which a customer requested $45,000.00 in damages after alleging that Hartman engaged in unauthorized transactions in the customer’s account and selected investments which were not suitable. On the same day, Hartman […]

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Customers File Arbitration Claims Against Sterne Agee Financial

Thomas J. Dailey, of Youngstown, Ohio, a stockbroker with Sterne Agee Financial Services, Inc., is subject to a pending customer dispute from December 7, 2015, in which a customer requested $500,000.00 in damages in connection with allegations against Dailey of making misrepresentations to customers regarding Florida Capital Real Estate Partnerships. The customers alleged to have […]

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Customers Sue Worden Capital Management Stockbrokers

September 17, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Gregory Dean, of Garden City, New York, a stockbroker with Worden Capital Management LLC, is currently subject to four pending customer disputes. Particularly, on June 20, 2016, Dean became subject to a pending customer dispute in which the customer has requested $138,032.66 amid allegations against Dean of fraud, negligence, breach of fiduciary duty, breach of […]

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Customers File FINRA Arbitration Claims Against Worden Capital Management

September 17, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Donald J. Fowler, of Garden City, New York, a stockbroker with Worden Capital Management LLC, is currently subject to two pending customer disputes. Particularly, on June 6, 2016, a customer requested $812,000.00 in damages in connection with allegations against Fowler of securities fraud in violation of Securities Exchange Act of 1934 Section 10(b) and 20(a), […]

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Customer Arbitration Claims Against Worden Capital Management

September 17, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Michael A. Valdini, of Garden City, New York, a stockbroker with Worden Capital Management LLC, is subject to a pending customer dispute from April 2, 2015, in which the customer requested damages of $125,956.33 in connection with allegations against Valdini of negligent supervision, charging of excessive commissions, overconcentration of the customer’s assets, unsuitability, unauthorized trading […]

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Customer Suitability Claims Against JD NicholasAssociates Stockbroker

September 16, 2016  |   Posted by :   |   Churning, Stockbroker Fraud News   |   0 Comments

Joseph Clemente, of Syosset, New York, a stockbroker with J.D. Nicholas & Associates, Inc., is subject to a pending customer dispute from October 24, 2014, in which a customer is requesting $57,130.00 in connection with allegations against Clemente of negligence, churning of the customer’s account, overconcentration of investments, negligence, unsuitability, and failure to supervise. Public […]

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Customer Arbitration Claims Against Aegis Capital Corporation

September 16, 2016  |   Posted by :   |   Boilerroom, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Nick Son, of New York, New York, a stockbroker with Aegis Capital Corp., was named in a pending customer dispute on April 19, 2016. Specifically, the customer requested $65,984.66 in damages after alleging that Son utilized high pressure sales tactics with the customer, and made misrepresentations and other misleading statements to the customer in connection […]

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Customers Arbitration Claim Filed Against Aegis Capital Corporation

September 16, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Paul Falcon, of Boca Raton, Florida, a stockbroker with Aegis Capital Corp., was named in a customer dispute on April 25, 2016. Particularly, the customer requested $190,672.12 in damages after alleging that Falcon made investment recommendations that were unsuitable for the customer, and alleged that the customer’s investment performance was poor. Public Disclosure records reveal […]

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Aegis Capital Corporation Stockbroker Luftschein Sued By Customers

September 16, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Steven R. Luftschein, of Melville, New York, a stockbroker with Aegis Capital Corp., is currently subject to a pending customer dispute from June 3, 2016, in which a customer has requested $2,000,000.00 in damages in connection with allegations that Luftschein made investment recommendations that were unsuitable to customers, and mishandled the customers’ accounts. Disclosure records […]

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Another Aegis Capital Corp Stockbroker Accused of Churning

September 16, 2016  |   Posted by :   |   Excessive trading, Stockbroker Fraud News   |   0 Comments

Bruce Stark, of Melville, New York, a stockbroker with Aegis Capital Corp., is currently subject to two pending customer disputes. Particularly, on August 21, 2015, a customer requested $534,150.00 in damages after alleging that Stark churned and excessively traded in the customer’s account, engaged in unauthorized trades, and made unsuitable investment recommendations. According to FINRA […]

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Aegis Capital Corp Stockbroker Named in Unsuitability Arbitration Claim

September 16, 2016  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

James B. Schwartz, of Melville, New York, a registered representative with Aegis Capital Corp., is currently subject to a pending customer dispute from June 3, 2016, in which several customers requested $2,000,000.00 in damages in connection with allegations that Schwartz made unsuitable investment recommendations to customers, and mishandled customers’ accounts. According to FINRA Public Disclosure […]

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Wells Fargo Stockbroker Suspended For Unauthorized Trading

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

Barbara L. Bottoms, of Fairbanks, Arkansas, a stockbroker with Wells Fargo Advisors, LLC, was fined $17,500.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that she engaged in the unauthorized trading in customer accounts. Letter of Acceptance, Waiver and Consent, […]

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PFS Investments Registered Representative Suspended For Misappropriation Of Funds

September 16, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Gerard F. Cipolla, of Rego Park, New York, a registered representative with PFS Investments Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations of Cipolla’s unsuitable investment recommendations. Letter of Acceptance, Waiver and Consent, […]

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