FINRA Securities Arbitration

Archive | FINRA Securities Arbitration

JP Morgan Blamed By Investors For Bad Advice

Brian Nicholas Degrado of Chicago Illinois a stockbroker currently employed by J.P. Morgan Securities LLC is referenced in a customer initiated investment related written complaint on January 30, 2019 where the customer sought $16,566.55 in damages supported by accusations that investment recommendations made to the customer were not suitable causing losses on the customer’s managed […]

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Stifel Nicolaus Sued By Investors For Fraud

Stephen Paul Courtney of Pasadena California a stockbroker currently employed by Stifel Nicolaus Company Incorporated is the subject of a customer initiated investment related arbitration claim where the customer sought $238,050.00 in damages supported by accusations that (1) transactions were effected in violation of the securities laws of the State of California (2) misrepresentations and […]

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Investors Accuse Morgan Stanley Of Excessive Trading

James Samuel Mewhinney III of Dallas Texas a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related written complaint on November 19, 2018 in which the customer requested $550,000.00 in damages based upon accusations that while Mewhinney was associated with Morgan Stanley: (1) Mewhinney effected trades in the customer’s […]

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Oriental Financial Sued By Investors For Fraud

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

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Moorestown Stockbroker Admits To Unauthorized Trading

Farrukh Shazad Kazmi of Moorestown New Jersey a stockbroker currently registered with Berthel Fisher Company Financial Services Inc. has been fined $20,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Order Accepting Offer of Settlement containing findings that (1) Kazmi made unauthorized trades in customer […]

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Investors Sue Laidlaw Company For Churning

Nicholas Sabellico of Fort Lauderdale Florida a stockbroker formerly registered with Laidlaw Company (UK) Ltd. is the subject of a customer initiated investment related arbitration claim in which the customer requested $25,413.00 in damages supported by accusations that between 2015 and 2017: (1) transactions executed in the customer’s account were in no way appropriate for […]

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RBC Capital Sued By Investors For Unauthorized Trading

James Frederick Sowerine of Billings Montana a stockbroker currently employed by RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim which was settled for $80,000.00 in damages based upon allegations that (1) Sowerine executed unauthorized trades in the customer’s account and (2) Sowerine inappropriately placed the customer in energy sector […]

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Newbridge Stockbroker Barred For Selling Away

Dennis Allen Hayes of Boca Raton Florida a stockbroker formerly employed by Newbridge Securities Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Order Accepting Offer of Settlement containing findings that (1) Hayes engaged in private securities transactions while […]

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Merrill Lynch Sued By Investors For Municipal Bond Fraud

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

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Investors Accuse WFG Investments Of Exchange Trades Notes Fraud

Damian Marlon Bell of Daphne Alabama a stockbroker formerly employed by WFG Investments is the subject of a customer initiated investment related complaint on June 15, 2018 where the customer sought $72,000.00 in damages founded on allegations that the customer was placed into unsuitable exchange traded note and mutual fund products; and was assessed unwarranted […]

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Investors Sue UBS Financial For Hedge Fund Fraud

Carolyn Marie Thur of Chicago Illinois of Oakbrook Terrace Illinois a stockbroker formerly registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $225,000.00 in damages founded on allegations that (1) omissions had been made to the customer concerning the risks, portfolio composition […]

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FINRA Bars Coastal Equities Brokers For Churning

April 10, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Sam Aziz (also known as Sam Yehya and Sam Azizieh) of Dublin Ohio a stockbroker formerly registered with Costal Equities Inc. and David A. Noyes Company has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Aziz failed to cooperate with FINRA in […]

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Investors Sue Wunderlich For Breach Of Fiduciary Duty

Bassam S. Salem of Birmingham Michigan a stockbroker formerly registered with Wunderlich Securities Inc. is the subject of a customer initiated investment related arbitration claim that settled for $50,000.00 supported by accusations that between January of 2011 and February of 2017: (1) poor investment recommendations were made to the customer concerning over the counter equities […]

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FINRA Suspends Garden State Broker In Investigation

Garland Sean James (also known as Gary James) of New York New York a stockbroker formerly employed by Garden State Securities Inc. has been suspended by Financial Industry Regulatory Authority (FINRA) in all capacities on December 7, 2018 founded on allegations that James failed to comply with the terms of FINRA Arbitration in which James […]

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Investors Sue Stockbroker For Investment Fraud

Leonard Joseph Marzocco of Melville New York a stockstockbroker formerly registered with Rockwell Global Capital LLC is referenced in a customer initiated investment related arbitration claim which was settled for $10,500.00 in damages supported by accusations that (1) Marzocco breached his fiduciary duties to the customer (2) Marzocco misrepresented the terms and conditions of over-the-counter […]

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Investors Sue Aegis Capital For Fraud

Gregory Spencer O’Brien of New York New York a stockstockbroker formerly employed by Aegis Capital Corp. is the subject of a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages supported by accusations that between 2011 and 2018: (1) the customer’s account was handled in a negligent manner (2) the […]

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UBS Financial Fires Stockbroker For Lying In SEC Investigation

Bruce Davis Smith of Atlanta Georgia a stockbroker formerly employed by UBS Financial Services Inc. has been discharged by the firm on August 7, 2018 supported by allegations that Smith was not forthcoming to the firm concerning his involvement with a customer in transactions referenced in a Securities Exchange Commission (SEC) inquiry. Financial Industry Regulatory […]

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Wells Fargo Sued By Investors For Hedge Fund Fraud

Mikhail Filshtinskiy of Brooklyn New York a stockbroker formerly employed by Wells Fargo Advisors Financial Networks is the subject of a customer initiated investment related arbitration claim in which the customer requested $8,674,063.93 in damages founded on accusations that the customers were victim to a fraudulent scheme involving Filshtinskiy and a hedge fund manager. Financial […]

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Investors Sue Merrill Lynch For Bad Investment Advice

Jacquin P. Fink of New York New York a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim in which the customer requested $3,581,198.00 in damages supported by accusations of bad investment recommendations being made to the customer concerning (1) over-the-counter equities (2) […]

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FINRA Catches LPL Financial Stockbroker Selling Away

Scott Patrick Klor of Fort Mill South Carolina a stockstockbroker formerly registered with LPL Financial LLC has been fined $5,000.00 and suspended for fourteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in securities transactions away from LPL Financial LLC and […]

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National Securities Stockbroker Admits To Unauthorized Trading

James Bryant Eichner Jr. of New York New York a stockstockbroker formerly registered with National Securities Corporation has been fined $10,000.00 and suspended for forty-five days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Eichner executed unauthorized trades in a customer’s account. Letter of […]

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Merrill Lynch Sued For Options Fraud

Heather Peterson Weber of Tampa Florida a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim which was resolved for $92,500.00 in damages based upon accusations that (1) misrepresentations had been made to the customer concerning the terms or risk of options trades […]

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RBC Capital Markets Sued For Overconcentration

Irwin Maisner (also known as Gerald Irwin Maisner and as Gerry Maisner) of Westport Connecticut a stockstockbroker currently registered with RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $50,000.00 in damages based upon accusations that (1) Maisner poorly advised the customer concerning investments in oil […]

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Investors Sue Merrill Lynch For Misrepresentation

John Joseph Birkhauser of Lake Forest Illinois a stockstockbroker currently employed by Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim which was settled for $10,000.00 in damages founded on allegations that (1) misrepresentations had been made concerning the terms or risks of the limited partnership interests sold […]

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FINRA Bars Windsor Street Stockbroker

Francine Ann Lanaia (also known as Fran McPherson) a stockbroker formerly employed by Windsor Street Capital LP has been barred from associating with any Financial industry Regulatory Authority (FINRA) member in any capacity based upon accusations that Lanaia failed to provide FINRA with information that had been requested from her. Case No. 2017052475701 (Oct. 29, […]

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Mutual Of Omaha Discharges Broker For Insurance Activities

Price A. Breville of Staten Island New York a stockbroker formerly registered with Mutual of Omaha Investor Services Inc. has been discharged on December 5, 2018 founded on allegations that Breville engaged in impermissible business activities concerning a customer’s purchase or sale of an insurance product. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that […]

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Feltl Company Accused Of Unsuitable Investment Strategy

Timothy David O’Brien of Inver Grove Heights Minnesota a stockbroker formerly employed by Feltl Company is the subject of a customer initiated investment related written complaint on December 24, 2018 in which the customer sought $10,000.00 in damages supported by allegations that the customer was inappropriately invested in over-the-counter equities because of those investments failing […]

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National Securities Corp Sued For Investment Fraud

Richard Anthony Cavileer of Edison New Jersey a stockbroker formerly employed by National Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $438,190.00 in damages founded on allegations that (1) misrepresentations had been made to the customer concerning the terms and conditions of over-the-counter equities investment purchased […]

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The GMS Group Accused Of Investment Fraud

Oscar Andres Rico of Boca Raton Florida a stockbroker formerly registered with The GMS Group LLC is the subject of a customer initiated investment related written complaint which settled for $60,000.00 on December 20, 2018 based upon accusations that Rico made false or misleading statements to the customer concerning Puerto Rico municipal debt investments that […]

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UBS Fires Broker For Failure To Disclose Legal Problems

Patrick Thomas Donohue of New York New York a stockbroker formerly employed by UBS Financial Services Inc. has been terminated on December 7, 2018 founded on the firm’s accusations that Donohue failed to make required disclosures to the firm concerning his legal affairs; conduct violative of the firm’s policies. Financial Industry Regulatory Authority (FINRA) Public […]

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FINRA Bars International Assets Advisory Broker For Failure To Pay Customer Settlement

Brian Robert Roth of Mendam New Jersey a stockbroker formerly registered with International Assets Advisory LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Roth failed to cooperate with the provisions of a customer initiated investment related settlement or otherwise confirm with FINRA […]

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Investors Blame Raymond James For Bad Investment Advice

Lisa Ann Detanna of Beverly Hills California a stockbroker currently registered with Raymond James Associates Inc. is the subject of a customer initiated investment related written complaint on January 22, 2019 in which the customer requested $100,000.00 in damages supported by allegations that common and stock transactions executed in the customer’s account were not suitable […]

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CFD Investments Fires Broker For Churning Customer Accounts

Ziv Ohel of Long Grove Florida a stockbroker formerly employed by CFD Investments Inc. has been discharged on September 6, 2017 based upon accusations from a customer who claimed that (1) unsuitable transactions were executed in the customer’s account (2) fiduciary duties owed to the customer had been breached and (3) trades were placed in […]

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Raymond James Broker Fired For Concealing Customer Complaint

Ronald Patrick Cameron of Fayetteville Arkansas a stockbroker formerly employed by Raymond James Financial Services Inc. has been terminated by the firm on November 20, 2018 supported by allegations that Cameron was involved in a customer complaint which he resolved outside the firm’s auspices and without the firm’s knowledge. Financial Industry Regulatory Authority (FINRA) Public […]

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Wells Fargo Blamed By Investor For Altering Investment Objectives

Matthew John Quall of Northfield Illinois a stockbroker formerly registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on January 23, 2019 in which the customer requested unspecified damages supported by allegations that the customer’s account profile had been misrepresented leading to speculative and inappropriate futures commodity […]

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Morgan Stanley Fires Broker For Outside Business Activities

Kenneth Marc Hutkin of New York New York a stockbroker formerly employed by Morgan Stanley Wealth Management has been discharged by the firm on September 24, 2018 based upon accusations that (1) Hutkin engaged in outside business activities without having disclosed them to the firm and (2) Hutkin received compensation for activities that had not […]

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Wells Fargo Sued By Investors For Unsuitable Recommendations

Bryan Edwin Benson of Tucson Arizona a stockbroker currently registered with Wells Fargo Clearing Services is the subject of a customer initiated investment related arbitration claim in which the customer requested $218,257.00 in damages based upon allegations that unsuitable stock transactions had been effected in the customer’s account by Benson while he was associated with […]

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Global Arena Broker Finally Barred For Failure To Pay Award

Jonathan Michael Sheklow of New York New York a stockbroker formerly registered with Global Arena Capital Corp has been suspended on May 23, 2016 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to pay a $151,373.17 award to a customer after a […]

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Merrill Lynch Accused Of Defective Investment Recommendations

Armand Pierre Bryant of El Cajon California a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith incorporated is the subject of a customer initiated investment related complaint on January 10, 2019 in which the customer sought unspecified damages supported by accusations that Bryant gave the customer inappropriate advice with regard to fixed annuities purchased […]

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Investors Sue Insight Securities For Fraud

Carlos Javier Legaspy of Highland Park Illinois the President and Chief Executive Officer of Insight Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $2,765,000.00 in damages based upon accusations that while Legaspy was associated with Insight Securities Inc.: (1) customers were presented with fraudulent documents to effect […]

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Investors Sue Morgan Stanley For Sale Of Unsuitable Bonds

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

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Ameriprise Broker Sent To Debtors Prison And Barred For Owing Ameriprise Money

Dorothy Greppin Powers of Las Vegas Nevada a stockbroker formerly registered with Ameriprise Financial Services Inc. has been named in an investment related complaint on August 9, 2017 in which the customer sought $19,468.00 in damages based upon accusations that the customer was placed in a variable universal life insurance contract that was not appropriate […]

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UBS Financial Services Sued By Investors For Unauthorized Trading

Daniel Edward Rebmann of San Antonio Texas a stockbroker currently associated with UBS Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which was settled for $25,000.00 in damages based upon accusations that structured products had been purchased for the customer’s account without the customer’s permission while Rebmann was associated with […]

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Raymond James Sued By Investors For Breach Of Fiduciary Duty

Steven Paul Reznik of Tallahassee Florida a stockbroker formerly employed by Raymond James Financial Services Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages based upon accusations that (1) fiduciary duties and contractual obligations had been breached (2) the firm failed to supervise transactions […]

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Summit Brokerage Services Sued For Unauthorized Trading

Richard David Blythe of Tucson Arizona a stockbroker currently registered with Summit Brokerage Services Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages supported by accusations of the unauthorized trading of equities and mutual funds in the customer’s investment account during the time Blythe […]

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Investor Sues Blackbook Capital For Defective Investment Advice

Dennis Daniel Herrera of New York New York a stockbroker formerly associated with Blackbook Capital LLC is referenced in a customer initiated investment related arbitration claim which was settled for $14,500.00 in damages based upon allegations that equity transactions effected in the customer’s account were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) […]

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Kestra Terminates Stockbroker For Hiding Customer Complaint

Tom Abel Puentes of Woodland Hills California a stockbroker formerly associated with Kestra Investment Services has been terminated on May 7, 2018 based upon accusations that Puentes possibly failed to conform to Kestra Investment Services LLC policies by concealing that at least one customer complained about his activities. This is not the first time that […]

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FINRA Bars Stockbroker For Obstructing Boilerroom Investigation

William David Nelson of New York New York a stockbroker formerly registered with Meyers Associates L.P. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Nelson failed to comply with a FINRA investigation into accusations that he effected excessive and unsuitable trades in a […]

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Merrill Lynch Blamed By Investors For Bad Investment Advice

Gregory Dehrmann Miseyko of Boca Raton Florida a stockbroker associated with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related written complaint which was settled on January 14, 2019 to resolve accusations that the customer’s assets were placed in inappropriate investments within the customer’s managed accounts. Financial Industry Regulatory […]

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Raymond James Financial Services Sued By Investors For Fraud

Jeffrey Worth Ostrander (also known as JW Ostrander) of Overland Park Kansas a stockbroker currently employed by Raymond James Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $140,000.00 in damages supported by accusations that: (1) the firm and Ostrander violated FINRA rules in dealing with the […]

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Investors Accuses Wells Fargo Of Bad Direct Investments

Joseph Alan Marshall of Dallas Texas a stockbroker currently employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint which was resolved for $100,000.00 on October 19, 2016 based upon allegations Marshall mismanaged the customer’s investment account and placed the customer in direct investments that failed to conform […]

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Investors Accuse Wells Fargo Of Unauthorized Transaction

Robert Ellsworth McMann of Lake Mary Florida stockbroker or supervisor currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on October 16, 2018 in which the customer requested more than $5,000.00 in damages supported by allegations that funds were inappropriately taken from the customer’s tax-qualified annuity […]

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FINRA Charges Aegis Capital Corp Broker With Fraud

James Bradley Schwartz (also known as Jim Schwartz) of New York New York a stockbroker formerly registered with Aegis Capital Corp. has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that (1) Schwartz excessively traded and churned customers’ accounts and (2) Schwartz engaged in deceptive and fraudulent activities […]

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Park Avenue Broker Sued By Investor For Fraud

Matthew Gaglio of New York New York a stockbroker formerly employed by Park Avenue Securities LLC is referenced in a customer initiated investment related written civil action brought in the United States District Court for the Southern District of New York which was resolved for $47,853.00 in damages founded on allegations that (1) fraudulent misrepresentations […]

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Investors Sue Merrill Lynch For Annuity Fraud

Jonathan Rafe Rankin (also known as Jonathan Rafe Ranlein) a stockbroker and supervisor currently registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related written complaint on November 8, 2017 in which the customer requested damages estimated to exceed $5,000.00 founded on accusations that misrepresentations and omissions had […]

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Investors Sue Investors Capital For Bad REIT Recommendations

Roberto Alexandro Blanco of El Paso Texas a stockbroker formerly employed by Investors Capital Corporation is the subject of a customer initiated investment related written complaint which settled for $43,000.00 in damages on February 2, 2018 based upon accusations that (1) Blanco placed the customer in real estate security investments that were not appropriate for […]

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Morgan Stanley Sued By Investors For Securities Fraud

Ganesh Iyer (also known as Ganesh Ramachandran) of Houston Texas a stockbroker formerly registered with Morgan Stanley has been named in a customer initiated investment related arbitration claim in which Iyer and Morgan Stanley were ordered by a FINRA Arbitration Panel to pay $54,954.04 in compensatory damages to the customer based upon the Panel finding: […]

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NYLife Securities LLC Blamed By Investors For Annuity Misconduct

Sudesh Kumar Jain of Dayton Ohio a stockbroker currently registered with NYLife Securities LLC is the subject of a customer initiated investment related written complaint which was resolved for $11,487.91 on January 9, 2019 founded on accusations that (1) the customer was placed into a variable annuity that failed to align with the customer’s financial […]

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Wells Fargo Accused By Investors Of Churning

Cynthia Day Laroche of Park City Utah a stockbroker currently employed by Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related written complaint which was resolved for $40,000.00 in damages on August 17, 2017 founded on allegations that Laroche churned the customer’s investment portfolio and engaged in manipulative activities with […]

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Investors Sue Spartan Capital For Securities Fraud

John Dennis Lowry of New York New York the Chief Executive Officer and Managing Member of Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim in which customers were collectively awarded $330,000.00 based upon findings that Lowry and Spartan Capital Securities LLC (1) breached fiduciary duties to the customer (2) […]

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MetLife Blamed By Investors For Bad Annuity Advice

Randall George Skrabonja of West Palm Beach Florida a stockbroker formerly employed by MetLife Securities Inc. is the subject of a customer initiated investment related written complaint on October 10, 2016 where the customer sought damages estimated to exceed $5,000.00 based upon accusations that Skrabonja gave the customer bad advice about purchasing a variable annuity […]

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Wells Fargo Sued By Investor For Misrepresentation

Ghalib Abdulla Kanji of Woodland Hills California a stockbroker formerly employed by Wells Fargo Advisors LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $2,000,000.00 in damages founded on allegations that (1) investment recommendations made to the customer were not suitable and (2) misrepresentations had been made to […]

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Investors Accuse Stifel Nicolaus Of Fraud

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

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Investors Sue Network 1 For Breach Of Fiduciary Duty

Michael Scott Desando of Red Bank New Jersey a stockbroker currently employed by Network 1 Financial Securities Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $70,000.00 in damages founded on accusations that fiduciary duties owed to the customer were breached with regard to common or preferred stock […]

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Ameriprise Discharges Broker For ETF Misconduct

Steven Michael Roffman of Jacksonville Florida a stockbroker formerly employed by Ameriprise Financial Services Inc. has been discharged by the firm on March 22, 2016 supported by accusations that (1) Roffman inappropriately solicited one or more customer’s investments in leveraged and inverse ETF investments (2) Roffman traded in customer accounts without written authorization from the […]

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Merrill Lynch Accused By Investors Of Bad Investment Advice

Menard Sanford Schwartz of Chicago Illinois a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related written complaint which settled for $61,883.00 on January 10, 2017 founded on accusations that investment recommendations made to the customer were not suitable concerning over-the-counter equities held in their […]

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J.P. Morgan Pays Investor For Stockbroker Misconduct

William Howard Desser of Los Angeles California a stockbroker currently registered with J.P. Morgan Securities LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $1,300,000.00 in damages founded on accusations that (1) Desser effected unauthorized transfers of funds from the customer’s account (2) Desser utilized the customer’s assets impermissibly […]

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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). In a parallel matter, Vaccarelli was charged […]

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Foresters Equity Broker Barred In Investigation

Michael John Rappa of San Diego California a broker formerly employed by Foresters Equity Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Rappa failed to cooperate with FINRA personnel who had been investigating Rappa’s possible unauthorized private securities transactions. […]

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JP Turner Sued By Investors For Bonds Fraud

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

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FINRA Bars Farmers Broker For Selling Woodbridge Ponzi Scheme

Kirk James Bertsch of Spearfish South Dakota a broker formerly registered with Farmers Financial Solutions LLC has been disgorged of illicit commissions and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Bertsch sold away from his firm by engaging in a promissory note […]

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Wells Fargo Sued By Investors For Unauthorized Trading

Leonard Anthony Boccia Jr. of New York New York a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $1,000,000.00 in damages based upon accusations that from 2012 to 2016, while Boccia was associated with Wells Fargo Advisors and UBS Financial Services […]

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VSR Sued By Investors For Breach Of Fiduciary Duty

Steven Hugh Murphy of Simi Valley California a stockbroker formerly registered with VSR Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought damages estimated to exceed $5,000.00 based upon accusations that (1) the customer was a victim of elder abuse (2) transactions were effected in violation of […]

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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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Berthel Fisher Sued By Investors For REIT Fraud

Joshua Eugene Stroud of Springfield Oregon a stockbroker formerly employed by Berthel Fisher Company Financial Services Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $22,500.00 in damages supported by allegations that (1) Stroud made misrepresentations to the customer concerning business development company and real estate security investments […]

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Accelerated Capital Group Blasted For Churing Customer Accounts

Accelerated Capital Group a brokerage firm headquartered in California has been censured and fined $400,000.00 by Financial Industry Regulatory Authority (FINRA) founded on accusations that the firm’s brokers: (1) executed unauthorized trades in customer accounts (2) sold customers investments that were not suitable for them and (3) executed trades in customer accounts on an excessive […]

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FINRA Bars Royal Securities Broker For Hindering Investigation

Thomas Cameron Oakes of Grand Rapids Michigan a stockbroker formerly registered with Royal Securities Company has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Oakes obstructed a FINRA investigation into accusations that he made unsuitable investment recommendations to customers of the firm. […]

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Investors Accuse Ameriprise Of REIT Misrepresentations

Dana Harold Nelson of Ann Arbor Michigan a stockbroker currently registered with Ameriprise Financial Services Inc. is referenced in a customer initiated investment related written complaint on July 11, 2016 in which the customer requested $38,858.76 in damages supported by accusations that the customer’s purchase of Inland American Real Estate Investment Trust was not appropriate […]

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FINRA Bars Kestra Broker In Settling Away Investigation

John William Spach of Aliso Viejo California a stockbroker formerly employed by Kestra Investment Services LLC and investment advisory representative formerly associated with NFP Retirement Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Spach failed to cooperate with a FINRA investigation into […]

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Investors Accuse MSI Financial Of Annuity Fraud

Brian Patrick Wells of Philadelphia Pennsylvania a stockbroker formerly registered with MSI Financial Services Inc. is referenced in a customer initiated investment related written complaint on March 1, 2017 in which the customer requested damages estimated to exceed $5,000.00 in damages based upon allegations that the customer was poorly advised concerning the purchases of a […]

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FINRA Suspends Hornor Townsend Broker Caught Selling Away

Thomas Edward Sova of Baton Rouge Louisiana a stockbroker formerly registered with Hornor Townsend Kent Inc. has been fined $5,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Sova sold away from the firm by selling Woodbridge Group of […]

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Merrill Lynch Sued By Investors For ETF Fraud

Raj Sharma of Boston Massachusetts a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim in which the customer requested $70,000.00 in damages founded on accusations that (1) misrepresentations and omissions had been made to the customer from January of 2012 to January […]

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FINRA Bars Wells Fargo Broker In Theft Investigation

Somning Pheth (also known as Demo Pheth) a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Pheth failed to provide FINRA with information that had been formally requested of him through a FINRA inquiry. […]

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Investors Blames BBVA In Currency Mishap

March 04, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Mario Omar Martinez Chavez of El Paso Texas a stockbroker formerly registered with BBVA Securities Inc. is the subject of a customer initiated investment related written complaint on March 28, 2018 where the customer requested more than $5,000.00 in damages founded on accusations that Chavez neglected to abide by the customer’s instructions pertaining to a […]

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Oppenheimer Accused By Investors Of Churning

Brandon Boyd Hanna of Minneapolis Minnesota a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related written complaint on July 17, 2018 in which the customer sought $350,000.00 in damages founded on accusations that (1) the customer’s account was churned and (2) stock, mutual funds and exchange traded funds […]

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SEC Bars MP Global Broker For Fraud

Lee Dana Weiss of San Juan Puerto Rico a stockbroker formerly employed by MP Global Inc. and owner of Family Endowment Partners LP (FEP) has been barred by Securities and Exchange Commission (SEC) from being a broker or investment advisor or otherwise associating with brokers or investment advisories according to an SEC Order Instituting Administrative […]

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Investors Accuse Raymond James Of Churing

Gary George Vescio of Palm Beach Gardens Florida a stockbroker formerly registered with Raymond James Associates is the subject of a customer initiated investment related written complaint on May 21, 2016 where the customer sought $62,000.00 in damages supported by allegations that excessive stock trades were effected in the customer’s account while Vescio was employed […]

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Dawson James Broker Fired For Unregistered Activities

Marc Neil Kalter of New York New York a stockbroker formerly registered with Dawson James Securities Inc. has been discharged by the firm on July 20, 2018 based upon allegations that (1) Kalter solicited investment transactions from investors residing in states in which Kalter was not registered as a securities person and (2) Kalter utilized […]

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National Securities Sued For Breach Of Fiduciary Duty

Michael Fasciglione of Mineola New York a stockbroker formerly employed by National Securities Corporation is referenced in a customer initiated investment related arbitration claim which was settled for $467,000.00 in damages supported by allegations that (1) fiduciary duties owed to the customer had been breached and (2) real estate security transactions effected in the customer’s […]

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Oppenheimer Accused Of Mutual Fund Misconduct

Stephen Brown of Fort Lauderdale Florida a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related written complaint on July 29, 2016 in which the customer requested more than $5,000.00 in damages based upon allegations that (1) the customer’s assets were not appropriately diversified and (2) overly speculative mutual […]

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JP Morgan Accused By Investors Of Investment Fraud

Bradley Scott Cooperman of San Diego California a stockbroker currently registered with J.P. Morgan Securities LLC is referenced in a customer initiated investment related written complaint on July 14, 2016 in which the customer sought $11,060.56 in damages based upon accusations that (1) unauthorized trades were executed in the customer’s managed investment account (2) misrepresentations […]

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JJB Hillard WY Lyons Broker Admits to Unauthorized Trading

Christopher Duke Bennett of Louisville Kentucky a stockbroker formerly employed by J.J.B. Hillard, 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 based upon consenting to findings that Bennett effected unauthorized transactions in accounts of J.J.B. Hillard, W.L. Lyons LLC customers. Letter […]

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Titan Securities Sued By Investors For Failure To Supervise

Brad Curtis Brooks of Addison Texas, a stockbroker and supervisor currently registered with Titan Securities, is referenced in a customer initiated investment related arbitration claim which was resolved for $9,850.00 in damages founded on allegations that Brooks failed to supervise a customer’s investments in limited partnership interest or direct participation program products. Financial Industry Regulatory […]

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Alexander Capital Broker Barred In Boilerroom Investigation

Michael Alejandro Castillero of New York New York a stockbroker formerly employed by Alexander Capital has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Castillero failed to testify in a FINRA investigation into accusations of (1) Castillero making unauthorized trades in 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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FINRA Bars Spartan Capital Broker In Investigation

Caeron Arlington McClintock of New York New York a stockbroker formerly registered with Spartan Capital Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that McClintock failed to provide FINRA with information that was requested of him. Case No. 2016051468601 (Nov. 6, 2017). […]

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Wells Fargo Pays Victim of Annuity Fraud

Leonard Charles Kinsman of Staten Island New York a stockbroker currently registered with Wells Fargo Advisors Financial Networks LLC is the subject of a customer initiated investment related written complaint which was settled for $24,000.00 on February 22, 2017 founded on allegations that the customer was provided false or misleading information concerning the principal protection […]

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Columbus Advisory Group Sued For $22.5 Million Private Placement Fraud

Michael Patrick Murphy of New York New York the Chief Executive Officer of Columbus Advisory Group Ltd. is the subject of a customer initiated investment related arbitration claim where the customer requested $22,500,000.00 in damages supported by accusations that the customer had been placed in direct participation program or limited partnership interests that were not […]

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Viewtrade Securities Fires Broker For Unsuitable Recommendations

Keith Scott Mency of Jersey City New Jersey a stockbroker formerly employed by Viewtrade Securities Inc. since September 30, 2015 has been discharged by the firm on June 2, 2016 founded on accusations that Mency effected unsuitable trades in customer accounts. This is not the first time that Mency has been terminated by a brokerage […]

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Investors Sue Ameriprise For REIT Sales

Carroll Thomas Clark Jr. (also known as Tom Clark) of Miami Florida a stockbroker formerly employed by Ameriprise Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $75,000.00 in damages supported by accusations that (1) investment recommendations concerning real estate securities were not suitable for the customer […]

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