Elder Abuse

Archive | Elder Abuse

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

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

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Wells Fargo Stockbroker and Wife Alleged to Be Bad Manors

David Manor of Boston Massachusetts a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint supported by accusations that (1) Manor engaged in unapproved outside business activities and private securities transactions involving a customer of the firm and (2) Manor […]

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Regulator Nails Meyers Stockbroker For Excessive Trading

May 02, 2019  |   Posted by :   |   Churning, Elder Abuse, Stockbroker Fraud News   |   0 Comments

Xavier Alexander Honablue of New York New York a stockbroker formerly registered with Meyers Associates L.P. has been fined $90,000.00 and permanently prohibited from engaging in securities transactions or investment advisory activities in the State of Illinois according to a State of Illinois Secretary of State Securities Department Order of Prohibition containing findings that Honablue […]

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Southeast Investments Stockbroker Barred For Fraudulent Customer Loans

Michael Paul Lessard Jr. of Rock Hill South Carolina a stockbroker formerly employed by Southeast Investments N.C. Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Lessard engaged in unauthorized customer loan agreements while registered with Southeast Investments N.C. Inc. and […]

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UBS Financial Broker Fired For Unauthorized Trading

April 10, 2019  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Thomas Lawrence Huber of Rochester New York a stockbroker formerly registered with UBS Financial Services Inc. has been discharged by the firm on September 12, 2018 supported by allegations that (1) Huber effected unauthorized trades and liquidations in a customer’s account (2) Huber inappropriately placed a customer in an account to generate unapproved compensation (3) […]

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FINRA Bars State Farm Stockbroker In Investigation

Bradley Allen Latting of Lawton Oklahoma a stockbroker formerly registered with State Farm VP Management Corp has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he neglected to comply with FINRA’s investigation into accusations of (1) Latting’s conversion of an elderly customer’s […]

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Pruco Broker Caught Obtaining Unapproved Customer Loans

March 28, 2019  |   Posted by :   |   Customer Loans, Elder Abuse, Stockbroker Fraud News   |   0 Comments

Kevin Hao Jie Zhang of Dewitt New York a stockbroker formerly registered with Pruco Securities, LLC has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Zhang engaged in an unapproved loan arrangement with a customer of Pruco Securities. […]

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Investment Center Stockbroker Criminally Charged With Fraud

Leon William Vaccarelli of Waterbury Connecticut a stockbroker formerly registered with The Investment Center has been indicted for wire fraud and mail fraud based on allegations that he engaged in a scheme which victimized elderly customers. United States v. Leon Vaccarelli No. 18-cr-g2-SRU (D. Conn May 2, 2018). On May 29, 2019, the Securities and […]

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J.P. Morgan Securities Broker Barred For Elder Abuse

Salman Rasheed of Skokie Illinois a broker formerly employed by J.P. Morgan Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Rasheed took advantage of an elderly investor with dementia who provided Rasheed $390,045.00 in gifts while Rasheed was associated with the […]

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Regulator Bars Morgan Stanley Broker Naming Himself Customer’s Beneficiary For Elder Abuse

John Anthony Waszolek of Scottsdale Arizona a stockbroker formerly employed by Raymond James Associates Inc. is referenced in an Arizona Corporation Commission Order revoking his securities registration in the State of Arizona based on findings that Waszolek engaged in unethical practices in the securities industry through steering an investor with dementia towards making Waszolek a […]

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Wells Fargo Advisors Broker Barred By SEC For Fraud

Barbara Ann Endres of Grand Junction Colorado a stockbroker formerly registered with Wells Fargo Advisors LLC and investment adviser representative of Lifetime Wealth Advisors LLC has been barred by Securities and Exchange Commission (SEC) in all capacities according to an Order Instituting Administrative Proceedings Pursuant to Investment Advisers Act of 1940 Section 203(f) containing findings […]

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UBS Broker Fined By FINRA For Outside Investment Accounts

February 19, 2019  |   Posted by :   |   Elder Abuse, Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Guy Stanley Waltman of Princeton New Jersey a stockbroker currently employed by UBS Financial Services 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 Waltman failed to disclose his trading of a customer’s accounts at an outside firm. […]

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FINRA Bars MetLife Stockbroker For Elder Abuse

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

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SEC Bars Wells Fargo Advisors Broker For Fraud

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

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FINRA Nails Supervisor For Ignoring Misconduct Of Top Producer

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

Jeffrey Duane Jacobson of Minneapolis Minnesota a stockbroker formerly employed by Dougherty Company LLC has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Jacobson failed to supervise a registered representative that executed unsuitable investment transactions in a customer’s investment […]

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LPL Financial Broker Barred For Elder Theft

Robert James Wodicker of Arnold Missouri a stockbroker formerly registered with LPL Financial LLC has been fined $80,000.00 and barred from registering as an investment adviser representative or broker-dealer agent in Missouri according to a Final Order to Cease and Desist and Order Awarding Civil Penalties Cost and Other Administrative Relief based on findings that […]

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Morgan Stanley Stockbroker Fined For Unauthorized Trading

November 30, 2018  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Richard Aloysius Juracka of New York New York a stockbroker currently registered with Morgan Stanley has been fined $50,00.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized trades in Morgan Stanley customers’ accounts. Letter of Acceptance Waiver and Consent […]

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UBS Sued By Investors For Breach Of Fiduciary Duty

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

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Regulators Nab Key Investment Services Broker For Elder Abuse

Christopher Michael Herrmann of Greenwood Indiana a stockbroker formerly registered with Key Investment Services has been fined $10,000.00 and suspended for nine months 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 Key Investment Services customers and concealed information […]

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FINRA Bars Financial West Group Broker For Churning

John Scott Simoncic of Reno Nevada a stockbroker formerly employed by Financial West Group has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Simoncic made exchange traded fund recommendations that were not suitable for customers (2) Simoncic effected excessive exchange traded […]

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Oppenheimer Sued By Investors For Fraud

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

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FINRA Fines Vanderbilt Securities For Failure To Supervise

July 31, 2018  |   Posted by :   |   Elder Abuse, Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Vanderbilt Securities LLC a brokerage firm headquartered in New York New York and its chief compliance officer Barry Champney have been sanctioned by Financial Industry Regulatory Authority (FINRA) founded on accusations that the firm and Champney failed to adequately supervise a registered representative who churned and effected unsuitable trades in a customer’s account. Letter of […]

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Stifel Stockbroker Barred For Stealing

July 16, 2018  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Mitchell Toby Yanow of Boca Raton Florida a stockbroker formerly registered with Stifel Nicolaus Company has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted a Stifel customer’s funds. Letter of Acceptance Waiver and Consent No. 2018058538001 (July 11, 2018). According […]

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FINRA Bars Independent Financial Broker For Bad Conduct

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

Kyusun Kim of San Diego California a stockbroker formerly registered with Independent Financial Group LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that that he (1) made unsuitable investment recommendations to the firm’s senior customer base and (2) falsified information about […]

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Customer Sues UBS For Securities Fraud

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

Arlo Bryan Sullivan of San Luis Obispo California a stockbroker formerly registered with UBS Financial Services Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $843,000.00 in damages based upon accusations including (1) elder abuse (2) mismanagement of the customer’s account (3) negligence (4) misrepresentation (5) breach of […]

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Customer Sues Stifel Nicolaus For Misrepresentation

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

Manuel David Lozano of Pasadena California a stockbroker currently employed by Stifel Nicolaus Company Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $250,000.00 in damages based upon allegations of (1) misrepresentation (2) suitability and (3) elder abuse pertaining to the customer’s corporate debt investments. Financial Industry Regulatory […]

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Customer Accuses Cetera Of Breach Of Fiduciary Duty

March 22, 2018  |   Posted by :   |   Annuity Schemes, Elder Abuse, Stockbroker Fraud News   |   0 Comments

Arlo Jean Stoll of Salem Oregon is a stockbroker currently registered with Cetera Advisors LLC who is the subject of a customer initiated investment related written complaint on December 28, 2016 in which the customer requested $76,778.00 in damages founded on allegations of breach of fiduciary duty, negligence, and suitability relating to the customer’s direct […]

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Indiana Widow Files FINRA Arbitration Claim Against Parkland Securities

March 22, 2018  |   Posted by :   |   Elder Abuse, Non-traded REITs, Suitability   |   0 Comments

Steven Eugene Love of Terre Haute Indiana, a stockbroker currently registered with Parkland Securities is the subject of a customer initiated investment related arbitration claim seeking between $300,000 and $500,000 in in damages supported by allegations that he failed top invest her retirement funds in safe, suitable investments, but instead sold her non-traded Real Estate […]

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Edward Jones Fires Stockbroker For Unauthorized Trading

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

Joseph Richard Hinke of Richland Center Wisconsin is a stockbroker formerly registered with Edward Jones who was fired on August 25 2016 based upon accusations that he solicited and ultimately effected orders in a customer’s investment account after having been apprised that the customer had dementia. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that […]

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LPL Financial Stockbroker Misrepesents Certtificates of Deposit

February 20, 2018  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News, Structured Notes   |   0 Comments

Mark B. Degner of Fall River Massachusetts is a former stockbroker of LPL Financial that has been fined seven thousand five hundred dollars and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made misrepresentations to customers concerning certificate of deposits. Letter of […]

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LPL Fires Stockbroker For Conversion Of Customer Funds

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

Melvin Elwood Case of Jacksonville, Florida, a stockbroker registered with LPL Financial LLC, was fired on May 2, 2017, based upon allegations that he had exploited an elderly individual after converting that individual’s funds for Case’s personal gain. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Case is referenced in five customer initiated investment […]

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Morgan Stanley Stockbroker Suspended Unsuitable Transactions

November 28, 2017  |   Posted by :   |   Elder Abuse, Over Concentration, Suitability   |   0 Comments

Timothy Thomas Gibbons of New Orleans, Louisiana, a stockbroker formerly registered with Morgan Stanley, has been fined $20,000.00 and suspended for eighteen months 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 elderly customers. Letter of Acceptance, Waiver and […]

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Independent Financial Group Sued For Elder Abuse

November 01, 2017  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News   |   0 Comments

Kyusun Kim, of San Diego, California, a stockbroker registered with Independent Financial Group, LLC, has been named in a customer initiated investment related arbitration claim, in which the customer alleged that Kim committed elder financial abuse, breached his contractual obligations, breached his fiduciary duties, and violated federal and state securities laws relating to structured products, […]

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Punitive Damges Award Against Wedbush Securities Fraud

October 05, 2017  |   Posted by :   |   Elder Abuse, FINRA Securities Arbitration   |   0 Comments

Mark Fred Augusta, of Solana Beach, California, a stockbroker formerly registered with Wedbush Securities Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer was awarded 250,000.00 in compensatory damages, $1,080,000.00 in punitive damages, and $110,000.00 in disgorged commissions on July 13, 2017, supported by allegations against Augusta and […]

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New York Broker Barred By FINRA For Defrauding Elderly Investor

Craig David Dima of Ronkonkoma, New York settled his regulatory enforcement action with FINRA by agreeing to a permanent bar from the securities industry. The bar is based on Dima’s conduct relating to an account for a 73 year-old retiree which included unauthorized trades, misrepresentations and excessive fees and commissions charged to the elderly client. […]

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Independent Financial Group Stockbroker Barred

Calvin Edward Moores, of Brea, California, a stockbroker formerly registered with Independent Financial Group, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to correspond with FINRA staff in reference to information about Moores’ business activities. Letter No. 2015047356601 (Mar. 7, […]

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LPL Financial Stockbroker Going to Prison

Robert Neil Tricarico, of Westport, Connecticut, a stockbroker formerly registered with LPL Financial, LLC, has been permanently barred by the Securities and Exchange Commission (SEC) from working as an investment adviser or stockbroker, or associating with any investment adviser or brokerage firm according to an Order Instituting Administrative Proceedings pursuant to Securities Exchange Act of […]

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Illinois Financial Advisor Steals From Elderly Client By Forging Checks

May 25, 2017  |   Posted by :   |   Elder Abuse, Embezzlement, Stockbroker Fraud News   |   0 Comments

William Carlson, a former financial advisor with Forum Financial Management, a Chicago area registered investment advisor, has admitted to stealing over $900,000 from a 63-year-old investor by forging her signature on checks drawn on her account. Carlson began his scheme in 2012.The victim had a custodial account that was managed by Carlson and Forum Financial. […]

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Allied Beacon Partners Broker Bad Recommendations

May 25, 2017  |   Posted by :   |   Boilerroom, Elder Abuse, Stockbroker Fraud News   |   0 Comments

Jeffrey D. Noard, of Milwaukee, Wisconsin, a stockbroker formerly registered with Allied Beacon Partners, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity pursuant to a National Adjudicatory Council Decision containing findings that he made unsuitable investment recommendations to customers. In the Matter of Department […]

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Wells Fargo Advisors Stockbroker Sanctioned

May 18, 2017  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News   |   0 Comments

Jeffrey Alan Hill, of Bemidji, Minnesota, a stockbroker formerly registered with Wells Fargo Advisors, was sanctioned by Financial Industry Regulatory Authority (FINRA), in which his securities registration was revoked by FINRA for failing to fulfill his payment of fines and disgorgement associated with a prior FINRA disciplinary action against him. Letter No. 2015047008703 (Mar. 17, […]

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Regulators Descend Upon Legend Securities

Michael Salvatore Stanton, a former branch office manager and director of capital markets for Legend Securities, Inc., has been charged in a Complaint by Financial Industry Regulatory Authority (FINRA) Department of Enforcement containing allegations that Stanton failed to supervise a registered representative who defrauded a disabled, blind and elderly investor. Department of Enforcement v. Michael […]

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Morgan Stanley Smith Barney Stockbrokers Fired

Wendy B. Feldman, and Peter Joseph Doyle, of Washington, District of Columbia, stockbrokers registered with Morgan Stanley Smith Barney, have been terminated from employment on June 24, 2016, based upon allegations that they violated their firm’s procedures and additionally failed to comply with regulatory rules pertaining to exercising discretion in customer accounts. Financial Industry Regulatory […]

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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 2016, $20,000.00 […]

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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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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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Securities America Named In Customer Securities Arbitration

January 13, 2017  |   Posted by :   |   Elder Abuse, FINRA Securities Arbitration   |   0 Comments

Paul Avila Neves, of San Diego, California, a stockbroker currently associated with Securities America, Inc., has been named in a customer initiated investment related arbitration claim on November 13, 2015, in which the customer requested $800,000.00 in damages based upon allegations that Neves effected sales of unsuitable and unregistered real estate securities, violated California’s Securities […]

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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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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 (Dec. […]

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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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VSR Financial Services Stockbroker Suspended For Unsuitable Recommendations

Mickey Long, of Plano, Texas, a stockbroker with VSR Financial Services, Inc., was suspended by Texas State Securities Board after being found to have made unsuitable investment recommendations of real estate investments and other alternative investments. Order No. REG16-SUS-03 (Oct. 4, 2016). According to the Order, Long was responsible for advising a seventy-year-old customer who […]

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Ripping Off the Elderly Never Gets Old

September 27, 2016  |   Posted by :   |   Boilerroom, Elder Abuse   |   0 Comments

Avenir Financial Group, of New York, New York as well as its chief executive officer, Michael Todd Clements and stockbroker Karim Ahmed Ibrahim, were all censured by Financial Industry Regulatory Authority (FINRA) in connection with a FINRA Office of Hearing Officers’ Extended Hearing Panel Decision which contained findings that the firm, Clements, and Ibrahim engaged […]

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Adirondack Trading Group Stockbroker Barred In Investigation

September 09, 2016  |   Posted by :   |   Annuity Schemes, Elder Abuse   |   0 Comments

Michael B. Inderlied, of New Woodstock, New York, a stockbroker with Adirondack Trading Group LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he obstructed an investigation into allegations of his unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and […]

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Bay Mutual Financial Stockbroker Charged With Unsuitable Recommendations

September 09, 2016  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News, Suitability   |   0 Comments

Christopher B. Ariola, of Aliso Viejo, California, a stockbroker with Bay Mutual Financial, LLC, was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Ariola made unsuitable recommendations to investors. Department of Enforcement v. Christopher B. Ariola, No. 2012034139101 (Aug. 25, 2016). According to the Complaint, between December of 2011 […]

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LPL Financial Stockbroker Barred For Stealing

George A. Zedan of Glendale, California, a stockbroker with LPL Financial LLC, was permanently 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 allegations that Zedan converted customer funds and failed to cooperate in a FINRA investigation into Zedan’s […]

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Lawson Financial Corporation Charged With Securities Fraud

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

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

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Thrivent Investment Management Stockbroker Barred For Stealing

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

Miguel Hernandez, of El Paso, Texas, a stockbroker with Thrivent Investment Management, Inc., 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. 2015045623201 (Apr. 25, 2016). According to the AWC, Hernandez […]

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Wedbush Securities Stockbroker Barred for Stealing

February 12, 2016  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News   |   0 Comments

Michael B. Winegar of Salem, Oregon, a stockbroker with Wedbush Securities Inc., was barred by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member firm in any and all capacities after Winegar consented to findings that he converted funds from a customer. Letter of Acceptance, Waiver and Consent, No. 2015045014101 (Jan. 29, 2016). […]

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Former Cambridge Investment Research Broker Barred Obstructing Investigation

Glenn A. Moffitt of Henderson, NV, a former general securities representative with Cambridge Investment Research, Inc., was permanently barred from association with any FINRA-registered firm in all capacities after failing to appear for on-the-record testimony in connection with FINRA’s investigation into allegations that Moffitt converted $370,000 from a customer. FINRA Letter of Acceptance, Waiver, and […]

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Woodbury Financial Services Stockbroker Barred for Stealing

Joseph R. Butler, a Stockbroker with Woodbury Financial Services, Inc., was permanently barred from association with any Financial Industry Regulatory Authority (FINRA) member firm after the National Adjudicatory Council confirmed a Hearing Panel Decision barring Butler for converting customer’s funds and submitting a false annuity beneficiary change request. In the Matter of Department of Enforcement […]

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Fifth Third Bank Broker Expelled Amid Investigation

Matthew Roger Quinn, a registered representative with Fifth Third Bank, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after failing to provide on-the-record testimony in connection with an investigation into allegations that Quinn had stolen funds from elderly customers. Letter of Acceptance, Waiver, and Consent, No. […]

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