FINRA Securities Arbitration

Archive | FINRA Securities Arbitration

GPB Investors Sue For Failure to Conduct Due Diligence

Guiliano Law Group, P.C. (Philadelphia) announced that is has filed investor claims against securities broker-dealers in connection the recommendation and sale of GPB Capital, and its related entities including GPB Automotive. The Statement of Claim filed before the Financial Industry Regulatory Authority or FINRA alleges the violation of the federal securities laws, the Pennsylvania Securities […]

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Investors Sue Newbridge Securities Corp For Negligence

John Gerard Forrester Jr. of Boca Raton Florida a stockbroker currently registered with Newbridge Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $55,000.00 in damages supported by allegations that (1) the customer’s account was handled in a negligent manner (2) contractual obligations had been breached and […]

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National Securities Sued For Breach Of Contract

Marshall Owen Isaacson of Boca Raton Florida a stockbroker formerly registered with National Securities Corporation and Newbridge Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer requested unspecified damages based upon accusations that (1) contractual obligations had not been complied with by the stockbroker (2) fiduciary duties were […]

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Investors Capital Corp Sued For Fraudulent REIT Sales

Carl John Grilli of Monrovia California a stockbroker formerly registered with Investors Capital Corp. is referenced in a customer initiated investment related civil action brought in the Superior Court of California in which the customer sought $89,000.00 in damages based upon allegations that (1) the customer’s account was administered negligently (2) information about investments had […]

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Investors Sue Cetera Advisors For Breach Of Fiduciary Duty

Christopher Robert Hickman of Delray Beach Florida a stockbroker formerly registered with Cetera Advisors LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $1,000,000.00 in damages founded on allegations that (1) fiduciary duties were breached (2) misrepresentations had been negligently made by the stockbroker in regard to […]

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Investors Accuse Andrew Garrett Of Unauthorized Trading

Jordan David Cooper of New York New York a stockbroker currently registered with Andrew Garrett Inc. is the subject of a customer initiated investment related written complaint which was settled to resolve allegations that between November 1, 2018 and January 31, 2019, unauthorized over-the-counter equities trades were executed in the customer’s Andrew Garrett Inc. account […]

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McNally Stockbroker Barred In Investigation

Dennis Masaaki Nakamura of Moraga California a stockbroker formerly registered with McNally Financial Services Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Nakamura neglected to follow FINRA’s instructions while he was under investigation for providing bad investment advice to customers of the […]

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Ameriprise Financial Services Stockbroker Barred In Theft Investigation

James Edward Knee (also known as Jim Knee) of Concord New Hampshire a stockbroker formerly registered with Ameriprise Financial Services Inc. is the subject of a customer initiated investment related written complaint on February 26, 2019 in which the customer requested $20,615.79 in damages based upon allegations that unfounded statements had been made concerning an […]

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IFG Sued By Investors Over Alternative Investments

Angelo Talebi of Sherman Oaks California a stockbroker formerly employed by Independent Financial Group LLC and Royal Alliance Associates Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested between $100,000.00 and $500,000.00 in damages supported by accusations that (1) false or misleading statements had been made by […]

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Investors Sue Merrill Lynch For Defective Investment Advice

Arturo Rexach Mundo of Guaynabo Puerto Rico a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith is the subject of a customer initiated investment related arbitration claim where the customer sought $7,000,000.00 in damages supported by accusations that (1) misrepresentations had been made concerning government debt investments and (2) investment recommendations made by the […]

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DA Davidson Sued By Investors For Bad Investment Advice

Gregory Roy Tucker of Des Moines Iowa a stockbroker currently employed by DA Davidson Co. is referenced in a customer initiated investment related arbitration claim where the customer requested $10,000,000.00 in damages based upon allegations that between 2009 and 2018: (1) the customer was charged excessive commissions (2) important information about the customer’s corporate and […]

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Investors Sue Morgan Stanley For Unsuitable Bond Recommendations

Ian M. Deliz Morales of Tampa Florida a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim in which the customer requested $750,000.00 in damages based upon allegations that from August of 2014 to September of 2019, the customer had been placed into closed end fund and […]

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UBS Financial Services Sued For Unsuitable Investment Advice

Neil Kevin Klein of White Plans New York a stockbroker currently registered with UBS Financial Services Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested between $200,000 and $500,000.00 in damages founded on allegations that trades placed by the stockbroker were unsuitable which resulted in unwarranted losses and […]

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Dougherty Company Sued By Investors For Churning

Richard William Rokala Jr. of Minneapolis Minnesota a stockbroker formerly registered with Dougherty Company LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages based upon allegations that (1) the customer’s account was administered negligently (2) unauthorized trades were executed by the stockbroker (3) stock and […]

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Investors Blame Stifel Nicolaus For Unauthorized Trading

November 24, 2019  |   Posted by :   |   Bond Fraud, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Jason Andrew Taub of Florham Park New Jersey a stockbroker currently registered with Stifel Nicolaus Company Incorporated is the subject of a customer initiated investment related written complaint on May 10, 2019 in which the customer requested damages estimated to exceed $5,000.00 based upon allegations that (1) unauthorized common and preferred stock trades and corporate […]

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SEC Bars Next Financial Stockbroker For Fraud

Douglas P. Simanski of Altoona Pennsylvania a stockbroker formerly employed by Next Financial Group Inc. has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment advisor or otherwise associating with securities broker dealers or investment advisories according to an Order containing findings that Simanski engaged in securities fraud. In the […]

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National Securities Corp Sued For Breach Of Contract

Mark Sam Kolta of New York New York a stockbroker formerly employed by National Securities Corporation is referenced in a customer initiated investment related arbitration claim in which the customer requested $750,000.00 in damages founded on allegations that (1) contractual obligations had been violated (2) fiduciary duties owed to the customer were not complied with […]

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J.P. Morgan Sued By Investors For Unauthorized Trading

Barry Steven Synder of Palm Beach Gardens Florida a stockbroker formerly registered with J.P. Morgan Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $500,000.00 in damages supported by accusations that during the period in which Synder was employed by J.P. Morgan Securities (1) unauthorized over-the-counter equities […]

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Morgan Stanley Sued For Unit Investment Trust Sales

Michael Frank Greenstone of Palm Beach Florida a stockbroker formerly registered with Morgan Stanley Smith Barney is referenced in a customer initiated investment related arbitration claim in which the customer requested $5,000,000.00 in damages based upon accusations that between 2013 and 2019, the customer had been placed into unit investment trust and equity products which […]

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Investors Sue Oppenheimer For Misrepresentation

Timothy Roger Atyeo of Fort Lauderdale Florida a stockbroker currently employed by Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $1,100,000.00 in damages founded on allegations that (1) misrepresentations had been made to the customer (2) fiduciary obligations were breached (3) the customer’s account was […]

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Investors Blame Money Concepts For Omissions

Dustin Paul Shafer of Boca Raton Florida a stockbroker formerly registered with Money Concepts Capital Corp. is referenced in a customer initiated investment related written complaint on September 30, 2019 where the customer requested $90,000.00 in damages founded on accusations that (1) the customer was placed into an unsuitable real estate investment trust product by […]

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Questar Sued By Investors For Unsuitable Recommendations

Jerry P. Michna of Louisville Ohio a stockbroker formerly registered with Questar Capital Corporation is referenced in a customer initiated investment related arbitration claim in which the customer sought $270,000.00 in damages supported by accusations of unsuitable energy sector stock and over-the-counter equities being sold to the customer by Michna during the period in which […]

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First Standard Sued By Investors For Excessive Trading

Debra Collura Bourne (also known as Debra Ann Bourne and as Debra Anne Bourne) a stockbroker formerly registered with First Standard Financial is referenced in a customer initiated investment related arbitration claim where the customer sought $2,000,000.00 in damages founded on accusations that (1) trades were executed by the stockbroker in an excessive manner during […]

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Morgan Stanley Sued By Investors For Bad Investment Advice

Nancy Dawn Glassman (also known as Nancy Glassman-Pascual) of New York New York a stockbroker currently registered with Morgan Stanley Smith Barney is referenced in a customer initiated investment related arbitration claim where the customer sought $50,000.00 in damages supported by accusations that transactions executed in the customer’s in-house money manager account failed to be […]

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HD Vest Sued For Fraudulent Woodbridge Notes

Jerry Davis Raines of Kilgore Texas a stockbroker formerly registered with HD Vest Investment Services is referenced in a customer initiated investment related arbitration claim where the customer requested $2,250,000.00 in damages based upon accusations of Raines misrepresenting risks which pertained to Woodbridge Group of Companies investments sold to the customer during the time that […]

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Investors Sue First Allied For Breach Of Fiduciary Duty

Robert Steven Weissbein (also known as Bob Weissbein) of Davie Florida a stockbroker currently registered with First Allied Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $250,000.00 in damages founded on allegations that (1) the customer’s account was administered negligently during the period in which Weissbein […]

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Mutual Securities Sued For Fraudulent Investments

Gary Lyle Pevey of Sacramento California a stockbroker formerly registered with Mutual Securities Inc. is referenced in a customer initiated investment related written complaint on April 29, 2019 where the customer requested $134,009.35 in damages founded on accusations that (1) the customer had been sold speculative and fraudulent investments which led the customer to experience […]

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Investors Sue Woodbury Financial For Unsuitable REITs

Robert Scott Ginsberg (also known as Bob Scott Ginsberg) of Wallingford Connecticut a stockbroker currently registered with Woodbury Financial Services Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $500,000.00 in damages based upon accusations that the customer had been placed into unsuitable business development companies (BDC) […]

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Investors Sue Spartan Capital For Failure To Supervise

Thomas John Briguccia Jr. of Ronkonkoma New York a stockbroker currently registered with Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $1,911,616.00 in damages based upon accusations that (1) transactions executed by the stockbroker failed to be suitable for the customer and (2) Spartan Capital […]

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Morgan Stanley Sued For Bad Unit Investment Trusts

Francis James Aurino of Beverly Hills California a stockbroker currently employed by Morgan Stanley is referenced in a customer initiated investment related arbitration claim in which the customer sought $685,610.00 in damages based upon allegations that between 2000 and 2019, the customer had been placed into unit investment trust and structured products that failed to […]

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Investors Sue Newbridge For Alternative Investment Fraud

David Francis Faline of St. Augustine Florida a stockbroker formerly employed by Newbridge Securities Corporation is the subject of a customer initiated investment related arbitration claim in which the customer requested more than $5,000.00 in damages based upon allegations that (1) the customer’s investments were overconcentrated in alternative investments and common and preferred stocks and […]

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BBVA Securities Accused Of Fraud

November 24, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Michael Joseph Kane III of Allen Texas a stockbroker currently registered with BBVA Securities Inc. is referenced in a customer initiated investment related written complaint on October 7, 2018 where the customer sought $235,000.00 in damages supported by allegations that (1) misrepresentations had been made by the stockbroker concerning certificate of deposits and (2) the […]

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Investors Sue Northwestern Mutual For Bad Investment Advice

Matthew Thomas Cochran of Charlotte North Carolina a stockbroker formerly employed by Northwestern Mutual Investment Services LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $300,000.00 in damages based upon accusations that from 2015 to 2018: (1) the customer had been provided bad investment recommendations in regard […]

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FINRA Sanctions Sigma Stockbroker For Selling Away

Fredrick Martin Randhahn (also known as Frederick Randhahn and as Fred Randhahn) of Ogden Utah a stockbroker formerly employed by Sigma Financial Corporation has been fined $5,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Randhahn engaged in undisclosed and unapproved […]

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Morgan Stanley Sued By Investors For Bad UITs

Elaine Diones Lacerte of Colorado Springs Colorado a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim which was settled for $9,500.00 in damages supported by accusations that unit investment trust transactions effected by the stockbroker were unsuitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration […]

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Investors Sue RBC Capital For Failure To Supervise

Paul Vincent Blum of West Palm Beach Florida a stockbroker formerly employed by RBC Capital Markets LLC is the subject of a customer initiated investment related arbitration claim which was settled for $70,000.00 in damages supported by allegations that (1) transactions executed by the stockbroker were unsuitable and (2) the customer’s energy-sector corporate bond transactions […]

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FSC Sued By Investors For Failure To Supervise

Eric Dean Rolshoven of Florence Montana a stockbroker formerly registered with FSC Securities Corporation is the subject of a customer initiated investment related arbitration claim which was settled to resolve accusations that Rolshoven failed to supervise a stockbroker’s activities which led to inappropriate transactions being effected by the stockbroker. Financial Industry Regulatory Authority (FINRA) Arbitration […]

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Investors Sue Joseph Stone Capital For Excessive Trading

David Gene Menashe of Mineola New York a stockbroker formerly employed by Joseph Stone Capital LLC is referenced in a customer initiated investment related arbitration claim in which the customer requested $50,000.00 in damages based upon accusations that (1) fiduciary duties were breached (2) the customer’s account was administered negligently (3) misrepresentations had been made […]

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Investors Accuse MetLife Securities Of Misrepresentation

November 24, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Prentice Valiant Chevalier Jr. (also known as Val Chevalier) of Wall Township New Jersey a stockbroker formerly registered with MetLife Securities Inc. is referenced in a customer initiated investment related written complaint on October 9, 2019 where the customer sought more than $5,000.00 in damages supported by allegations that unfounded statements had been made by […]

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Oppenheimer Sued By Investors For Misrepresentation

Eric Brian Rosenberg of Parsippany New Jersey a stockbroker currently registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $157,466.25 in damages supported by accusations that (1) unfounded statements were made by the stockbroker concerning investments and (2) investment recommendations made to the customer were […]

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Investors Accuse Merrill Lynch Of Misrepresentation

November 24, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Timothy Revell Roberson of Brentwood Tennessee a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related written complaint on February 14, 2019 in which the customer requested unspecified damages supported by allegations that unfounded statements had been made by Roberson in December of 2018 with […]

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Investors Sue Wells Fargo For Unsuitable Trading

Jeffrey Alan Eiler of Fort Lauderdale a stockbroker currently employed by Wells Fargo Clearing Services is the subject of a customer initiated investment related arbitration claim that settled for $135,000.00 in damages based upon accusations of the customer’s investment account being overconcentrated by Eiler in unsuitable mutual funds which led the customer to experience investment […]

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AXA Advisors Accused Of Bad Real Estate Investment Trusts

Chad Daniel Hornaday of Carlsbad California a stockbroker formerly registered with AXA Advisors LLC is referenced in a customer initiated investment related written complaint on May 7, 2019 in which the customer requested unspecified damages founded on allegations that the customer was placed into a real estate investment trust product that failed to be suitable. […]

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Purshe Kaplan Accused Of Failure To Supervise

James Michael Casey of Palm Desert California a stockbroker formerly registered with Purshe Kaplan Sterling Investments is referenced in a customer initiated investment related written complaint on February 20, 2019 in which the customer sought $2,300,000.00 in damages based upon allegations that Purshe Kaplan Sterling Investments failed to supervise Casey’s activities which resulted in the […]

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Principal Securities Sued For Unauthorized Transactions

John Michael Krohn (also known as John Micheal Krohn) of West Des Moines Iowa a stockbroker formerly registered with Principal Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $28,000,000.00 in damages based upon accusations that large investments in companies that Krohn owned or controlled had been solicited […]

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Investors Accuse Worth Financial Of Unsuitable ETFs

James Willard Clark of Dallas Texas a stockbroker currently registered with Worth Financial Group Inc. is the subject of a customer initiated investment related written complaint which was settled on July 15, 2019 for $38,000.00 in damages supported by allegations that recommendations of exchange traded fund transactions made by the stockbroker were not suitable and […]

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Capital City Stockbroker Barred In Investigation

Clint Harley Keener of Powell Ohio a stockbroker formerly employed by Capital City Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Keener failed to comply with an investigation into accusations of customers receiving bad investment advice from Keener. Letter of Acceptance […]

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Edward Jones Sued By Investors For Negligence

Ronald James Radner of Delray Beach Florida a stockbroker formerly employed by Edward Jones is referenced in a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages founded on accusations that (1) the customer’s individual retirement account had been invested by Radner in speculative and aggressive mutual fund investments (2) […]

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Wells Fargo Advisors Accused Of Bad Investment Advice

November 15, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Donald Anthony DeVito II of Albany New York a stockbroker formerly registered with Wells Fargo Advisors is referenced in a customer initiated investment related complaint which was resolved for $47,000.00 in damages on December 14, 2018 based upon allegations of DeVito having mismanaged the customer’s equity portfolio during the time that he was associated with […]

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VSR Financial Sued By Investors For Misrepresentation

Scott Vincent Kaup of Stuart Nebraska a stockbroker formerly employed by VSR Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $42,500.00 in damages based upon accusations that (1) unfounded statements and omissions had been made to the customer concerning real estate securities and direct investments (2) […]

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Investors Accuse SII Investments Of Unsuitable Recommendations

Richard Scott Laskin of East Brunswick New Jersey a stockbroker formerly registered with SII Investments Inc. is the subject of a customer initiated investment related complaint on September 17, 2019 where the customer requested $57,527.00 in damages founded on accusations that unsuitable stock transactions had been executed in the customer’s investment account while Laskin was […]

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UBS Financial Sued For Defective Options Strategy

November 01, 2019  |   Posted by :   |   FINRA Securities Arbitration, Options, Stockbroker Fraud News   |   0 Comments

Scott Michael Rosenberg of New York New York a stockbroker currently registered with UBS Financial Services Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $400,000.00 in damages supported by accusations that (1) unfounded statements had been made concerning the terms and conditions of an options overlay strategy […]

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LPL Financial Accused Of Bad REIT Advice

Nicholas Joseph Travascio III (also known as Nicholas Joseph Tarvash III and as Nick Tarvash III) a stockbroker formerly registered with LPL Financial LLC is referenced in a customer initiated investment related written complaint which was settled for $19,000.00 on October 7, 2019 based upon accusations that real estate investment trust recommendations made to the […]

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Investors Sue Kalos Capital For Breach Of Contract

Eric Peter Weschke of Setauket New York a stockbroker currently employed by Kalos Capital is the subject of a customer initiated investment related arbitration claim in which the customer requested $127,000.00 in damages founded on accusations that (1) the customer’s assets were inappropriately invested by Weschke in private equity products including GPB when he was […]

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Investors Accuse Morgan Stanley Of Unauthorized Trading

Fredrika Nadja Sidoroff of New York New York a stockbroker formerly employed by Morgan Stanley is the subject of a customer initiated investment related written complaint on September 6, 2019 in which the customer sought unspecified damages supported by allegations that exchanged traded funds had been purchased in the accounts of a Morgan Stanley customer […]

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FINRA Bars Morgan Stanley Stockbrokers For Churning

Amy Kathryn Forte and Charles Joseph Lawrence both of Palm Harbor Florida and stockbrokers formerly employed by Morgan Stanley have been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that (1) a customer’s account had been traded excessively and churned by Lawrence while at Morgan Stanley […]

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Investors Accuse Centaurus Of Providing Defective Investment Advice

Gregory Scott Kinkead of Las Vegas Nevada a stockbroker currently registered with Centaurus Financial Inc. is referenced in a customer initiated investment related complaint on August 12, 2019 where the customer requested damages estimated to exceed $5,000.00 based upon accusations that between November of 2018 and August of 2019, the customer was provided bad investment […]

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Questar Capital Accused Of REIT Misconduct

Miaojun Yuan of City of Industry California a stockbroker formerly employed by Questar Capital Corporation is the subject of a customer initiated investment related complaint on July 15, 2019 where the customer sought damages estimated to exceed $5,000.00 supported by accusations that from 2014 to 2016, the customer had been placed into real estate securities […]

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Morgan Stanley Sued By Investors For Bad Advice

Roxann Geraldine Romano (also known as Roxann Geraldine Davanzo) of New York New York a stockbroker currently employed by Morgan Stanley is the subject of a customer initiated investment related arbitration claim where the customer sought $1,755,896.00 in damages based upon accusations that Romano gave the customer bad investment advice concerning the purchase of variable […]

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Aegis Sued By Investors For Breach Of Fiduciary Duty

Thomas Duggan of Melville New York a stockbroker currently employed by Aegis Capital Corp. is the subject of a customer initiated investment related arbitration claim where the customer sought $80,000.00 in damages founded on accusations that (1) unfounded statements had been made about investments by the stockbroker (2) contractual obligations were not complied with and […]

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LPL Sued For Bad BDC Recommendations

Galen Kyle Kopman of Vancouver Washington a stockbroker formerly registered with LPL Financial LLC is the subject of a customer initiated investment related arbitration claim where the customer requested $160,000.00 in damages based upon accusations that (1) unfounded statements and omissions had been made by Kopman in regards to risks of direct investments including business […]

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LPL Discharges Stockbroker For Unauthorized Trading

Steven Eric Erickson of Vancouver Washington a stockbroker formerly employed by LPL Financial LLC has been discharged by the firm on December 31, 2018 founded on accusations that (1) Erickson failed to comply with the policies and procedures of the firm by soliciting customers’ investments in unlisted and low-priced securities and (2) Erickson placed trades […]

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Investors Accuse Aegis Of Unsuitable Recommendations

Kevin Thomas Doyle of Bayside New York a stockbroker currently employed by Aegis Capital Corp. is the subject of a customer initiated investment related written complaint on September 3, 2019 where the customer requested $17,231.00 in damages founded on accusations that investment recommendations made between February 15, 2018 and August 23, 2019 were inappropriate given […]

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Wells Fargo Accused Of Defective Options Strategy

Lary Douglas Bloom of Woodland Hills California a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related complaint on July 23, 2019 in which the customer requested $125,000.00 in damages founded on accusations that (1) the customer had been inappropriately advised by Bloom in regard to an […]

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Ameritas Sued By Investors For Negligence

Kristian M. Gaudet of Cut Off Louisiana a stockbroker formerly registered with Ameritas Investment Corp. is referenced in a customer initiated investment related arbitration claim where the customer sought $538,500.00 in damages supported by accusations that (1) the customer’s account was administered negligently (2) Ameritas Investment Corp. failed to supervise Gaudet’s activities and (3) private […]

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Investors Accuse Wells Fargo Of Unauthorized Trading

Sam Azizieh (also known as Sam Aziz and as Sam Yehya) a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC is the subject of a customer initiated investment related written complaint on June 27, 2019 where the customer sought $447,000.00 in damages supported by accusations that during the period in which Azizieh was […]

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First Standard Financial Sued For Excessive Trading

Andre Pierre Davis of New York New York a stockbroker formerly registered with First Standard Financial Company LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $350,000.00 in damages founded on accusations that (1) transactions were not authorized (2) investments were neither appropriate nor suitable for the […]

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Investors Accuse Kovack Of Mutual Fund Misconduct

Jeffrey Paul Davis of Bristol Connecticut a stockbroker currently registered with Kovack Securities Inc. is the subject of a customer initiated investment related written complaint on June 10, 2019 in which the customer requested more than $5,000.00 in damages based upon accusations that (1) the customer was placed into inappropriate investments including mutual funds and […]

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National Securities Corp Sued For Misrepresentation

John Joseph Labarca of Edison New Jersey a stockbroker formerly registered with National Securities Corporation is the subject of a customer initiated investment related arbitration claim in which the customer requested $80,000.00 in damages supported by allegations that (1) misrepresentations had been made about investments (2) the customer’s account was handled in a negligent manner […]

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Investors Sue Presidential Brokerage For Fraud

Gregory Jon Williams (also known as Greg Williams) of Greenwood Village Colorado a stockbroker currently registered with Presidential Brokerage Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $578,821.00 in damages supported by allegations that (1) fiduciary obligations failed to be complied with by Williams (2) fraudulent transactions […]

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Cambridge Stockbroker Sanctioned For Deceptive Practices

Dale Edward Wright of Henrico Virginia a stockbroker formerly registered with Cambridge Investment Research has been fined $50,000.00 by the Commonwealth of Virginia State Corporation Commission Bureau of Insurance according to an Order based upon findings that Wright inappropriately recommended that customers purchase insurance policies and use them as investment vehicles; conduct violative of Code […]

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Investors Sue SunTrust For Misrepresentation

Todd Joseph Thompson of Atlanta Georgia a stockbroker currently registered with SunTrust Investment Services Inc. is the subject of a customer initiated investment related written complaint on March 27, 2019 where the customer requested $19,367.00 in damages founded on allegations that false or misleading statements were made about terms of an equity indexed annuity that […]

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Infinex Sued By Investors For Bad REIT Recommendations

Tamara Ann Dawson (also known as Tamara Gallegos and as Tamara Haselby) of Boynton Beach Florida a stockbroker formerly registered with Infinex Investments Inc. is the subject of a customer initiated investment related arbitration claim which was settled to resolve allegations that she made unsuitable real estate investment trust recommendations to her customers during the […]

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Investors Sue Wells Fargo For Unsuitable Investment Advice

Harold Weber of Airmont New York a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $15,000.00 in damages based upon allegations that unfounded statements had been made about investments sold to the customer during the period in which Weber was […]

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Oppenheimer Sued By Investors For Breach of Fiduciary Duty

Michael Robert Greenfield of Boca Raton Florida a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $200,000.00 in damages supported by allegations that (1) fiduciary duties owed by the stockbroker were breached (2) contractual obligations had not been complied with (3) […]

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Investors Sue Henley Company For Failure To Supervise

Mitchell Allen Kurtz (also known as Mitch Allen Kurtz) of Roslyn Heights New York a stockbroker formerly registered with Henley Company LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $691,367.14 in damages based upon accusations that Henley Company LLC failed to supervise Kurtz’s activities or trades […]

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Merrill Lynch Sued By Investors For Omissions

October 18, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Robert Thomas Steck of Great Neck New York 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 $160,000.00 in damages based upon allegations that fees relating to over-the-counter equities transactions had not been disclosed (2) misrepresentations were made […]

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Spartan Capital Securities Sued For Churning

Joseph Patrick Fuller of New York New York a stockbroker formerly registered with Spartan Capital Securities is the subject of a customer initiated investment related arbitration claim in which the customer requested $6,645,956.00 in damages based upon accusations that (1) fiduciary duties owed to the customer had been breached (2) misrepresentations were made by the […]

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Woodstock Financial Group Accused Of Unauthorized Trading

David B. Min of East Rutherford New Jersey a stockbroker formerly registered with Woodstock Financial Group Inc. is the subject of a customer initiated investment related written complaint on March 8, 2018 in which the customer requested $600,000.00 in damages based upon allegations that (1) over the counter equity trades had been effected in the […]

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Investors Sue Oppenheimer For Securities Fraud

Cesar Augusto Hurtado of Miami Florida a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $100,000.00 in damages based upon allegations that (1) unfounded statements had been made to the customer concerning energy sector equities and options (2) the customer’s account was […]

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Investors Accuse BancWest Of Bad Annuity Recommendations

James Joseph Beaupre (also known as Jim Beaupre) of Longmont Colorado a stockbroker formerly registered with BancWest Investment Services Inc. is referenced in a customer initiated investment related written complaint which was settled on September 21, 2017 to resolve allegations that the customer had been inappropriately placed in annuity policies issued through Principal, Jackson and […]

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FINRA Bars Park Avenue Stockbroker In Global Credit Recovery Scheme

John C. Howley (also known as Jack C. Howley) of Rumson New Jersey a stockbroker formerly employed by Park Avenue Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Howley failed to cooperate with FINRA’s requests which had been made as part […]

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FINRA Bars Deadbeat Worden Stockbroker For Failure To Pay Arbitration Award

October 14, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Elvin J. Lopez of New York New York a stockbroker formerly registered with Worden Capital Management LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Lopez failed to confirm with FINRA whether he met his obligation to pay compensatory damages to a customer […]

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Investors Sue Titus Rockefeller For Fraud

David Michael Levy of Wellington Florida a stockbroker formerly registered with Titus Rockefeller LLC (also known as TR Capital Group LLC) is the subject of a customer initiated investment related arbitration claim where the customer requested $1,554,000.00 in damages founded on accusations that (1) fiduciary duties were not complied with (2) the extension of margin […]

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FINRA Bars Dakota Stockbroker For Failure To Pay Arbitration Award

October 14, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Christopher Russell McNamee (also known as Christian Russell McNamee) of Miami Florida a stockbroker formerly registered with Dakota Securities International Inc. has been sanctioned by Financial Industry Regulatory Authority (FINRA) on August 17, 2017 supported by allegations of McNamee’s failure to inform the regulator about whether he complied with his obligations to pay a customer […]

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Investors Sue Questar Capital Over Annuity Scheme

Elaine Marie Zito of Scottsdale Arizona a stockbroker formerly registered with Questar Capital Corporation is referenced in a customer initiated investment related arbitration claim in which the customer requested $87,397.47 in damages founded on accusations of the customer being placed into investments including fixed and variable annuities which were not appropriate for the customer during […]

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FINRA Sanctions Harbor Lights Stockbroker For Failure To Pay Award

Christopher Lee Goslin of Tampa Florida a stockbroker formerly registered with Harbor Lights Securities LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Goslin failed to comply with his obligation to pay a FINRA Arbitration Award to two customers who suffered losses because […]

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IAA Stockbroker Barred By FINRA Following Criminal Conviction

October 14, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Maroof Miyana of Pompano Beach Florida a stockbroker formerly employed by IAA Financial LLC has been suspended on March 26, 2018 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Miyana neglected to furnish information to FINRA personnel in regard to his compliance with a customer initiated […]

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FINRA Sanctions Meyers Stockbroker For Non-Compliance

Michael Scott Lavolpe of New York New York a stockbroker formerly registered with Meyers Associates L.P. has been sanctioned by Financial Industry Regulatory Authority (FINRA) on July 25, 2019 founded on accusations of Lavolpe’s failure to comply with a customer initiated investment related arbitration award. #deadbeat In particular, Lavolpe was subject of a customer initiated […]

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Investors Accuse Cetera Of Energy Sector Overconcentration

Abraham Heimann of Alpharetta Georgia a stockbroker formerly registered with Cetera Advisors LLC is referenced in a customer initiated investment related arbitration claim that was resolved for $42,500.00 in damages founded on accusations that fiduciary obligations to the customer were breached and the customer’s account had been negligently administered. FINRA Arbitration No. 17-02785 (Dec. 26, […]

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Stifel Nicolaus Sued By Investors For Misrepresentation

Aaron Chaim Lupuloff of Atlanta Georgia a stockbroker formerly employed by Stifel Nicolaus Company Incorporated is referenced in a customer initiated investment related arbitration claim where the customer sought $3,200,000.00 in damages supported by accusations that (1) the customer had been placed into corporate bonds through a private placement executed by Lupuloff and (2) fraudulent […]

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Investors Sue Maxim Group For Fraud

October 14, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Michael Gary Solomon of New York New York a stockbroker currently registered with Maxim Group LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $50,000.00 in damages supported by allegations that (1) commissions or fees charged to the customer for stock trades had not been disclosed by Solomon […]

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Investors Accuse NYLife Of Bad Securities

Michael Andrew Norman of Reno Nevada a stockbroker formerly registered with NYLife Securities LLC is referenced in a customer initiated investment related written complaint on April 18, 2019 in which the customer sought damages estimated to exceed $5,000.00 founded on accusations that the customer was placed into a variable annuity by Norman that failed to […]

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Merrill Lynch Fires Wayward Stockbroker Only After Losing $40 Million Customer Case

Charles Ernest Kenahan of Boston Massachusetts a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been discharged by the securities broker dealer on July 9, 2019 supported by accusations that (1) unauthorized trades were executed in a customer’s account by Kenahan (2) investment recommendations made by the stockbroker failed to be suitable […]

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Wells Fargo Accused Of Misrepresentation

October 14, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Glen Joseph Webster of Atlanta Georgia a stockbroker formerly registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related complaint on March 25, 2019 where the customer requested damages estimated to exceed $5,000.00 founded on accusations that (1) the customer was provided false information about investments and (2) there […]

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Investors Sue SW Financial For Fraud

James Robert Pecoraro of Melville New York a stockbroker currently employed by SW Financial is referenced in a customer initiated investment related arbitration claim which was resolved for $36,000.00 in damages based upon allegations that Pecoraro (1) misrepresented information concerning the customer’s equity transactions (2) effected unauthorized trades (3) breached his fiduciary duty to the […]

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Capital Financial Accused Of Bad Alternative Investment Recommendations

Lloyd Mark Johnston of Spokane Washington a stockbroker formerly employed by Capital Financial Services is referenced in a customer initiated investment related complaint on October 22, 2018 in which the customer requested damages estimated to exceed $5,000.00 supported by allegations that the customer had been sold an unsuitable alternative investment while Johnston was associated with […]

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Investors Accuse Hennion Walsh Of Bad Investment Advice

Sean Michael Logue of Parsippany New Jersey a stockbroker currently registered with Hennion Walsh Inc. is the subject of a customer initiated investment related written complaint which was resolved for $10,000.00 on May 9, 2019 based upon accusations of bad mutual fund investment recommendations being made to the customer which resulted in the customer purchasing […]

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Raymond James Sued For Breach Of Fiduciary Duty

David Lewis Capin of Kingston Pennsylvania a stockbroker formerly registered with Raymond James Financial Services and Summit Brokerage Services is the subject of a customer initiated investment related arbitration claim which was resolved for $60,000.00 in damages supported by allegations that (1) fiduciary duties had been breached (2) the customer’s account had been handled with […]

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Investors Sue Morgan Stanley For Churning

Paul William Lascelle of Flemington New Jersey a stockbroker formerly registered with Morgan Stanley Smith Barney is the subject of a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages supported by accusations that unit investment trust, stock and mutual fund trades had been executed in the customer’s account in excessive […]

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Morgan Stanley Sued By Investors For Failure To Supervise

Jeffrey Sean Crystal of Paramus New Jersey a former stockbroker and branch manager of Morgan Stanley is referenced in a customer initiated investment related arbitration claim which was settled for $2,193,015.00 in damages founded on allegations that the financial advisor mismanaged the customer’s account; and trades executed in the customer’s account were not supervised by […]

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Investors Sue LPL Financial For Bad Leveraged ETFs

Michael Alexander Hanson of La Mirada California a stockbroker formerly employed by LPL Financial LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $400,000.00 in damages supported by accusations that the customer had been placed into leveraged exchange traded funds which failed to align with the customer’s objectives for […]

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Stifel Nicolaus Stockbroker Discharged For Mishandling Funds

Andrew Bruce Elsoffer of Pepper Pike Ohio a stockbroker formerly registered with Stifel Nicolaus Company Inc. has been discharged by the securities broker dealer on October 16, 2018 based upon accusations that Elsoffer failed to comply with rules or procedures regarding the handling of customer funds and (2) Stifel Nicolaus lost confidence in Elsoffer because […]

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WFG Investments Sued For Private Placement Fraud

David Wilson Williams of Dallas Texas a stockbroker and supervisor formerly registered with WFG Investments Inc. is the subject of a customer initiated investment related arbitration claim where the customer was awarded $50,000.00 in compensatory damages based upon Williams being found liable on the customer’s claims which included that (1) contractual obligations to the customer […]

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Primex Sued By Investors For Unsuitable REITs

Wilfredo Felix Jr. of New York New York the President and Chief Executive Officer of Primex is the subject of a customer initiated investment related arbitration claim where the customer sought unspecified damages founded on accusations that the customer had been placed into UpREIT – a real estate security which was not appropriate or suitable. […]

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More Defective REIT Cases Pile Up Against Berthel Fisher

William Charles Sines (also known as Bill Sines) of Seminole Florida a stockbroker currently registered with Berthel Fisher Company Financial Services Inc. is the subject of a customer initiated investment related complaint on July 23, 2019 in which the customer sought $38,651.89 in damages founded on allegations that unsuitable investment recommendations and high pressure sales […]

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Independent Financial Group Sued By Investors For Bad REITs

Shimshon Plotkin (also known as Shim Plotkin) of Chevy Chase Maryland a stockbroker currently registered with Independent Financial Group is the subject of a customer initiated investment related arbitration claim in which the customer sought as much as $1,000,000.00 in damages based upon accusations that the customer had been placed in alternative investments including real […]

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UBS Sued By Investors For Defective Options Strategy

Matthew Stern Buchsbaum of New York New York and Stamford Connecticut a stockbroker currently registered with UBS Financial Services is referenced in a customer initiated investment related arbitration claim in which the customer sought $600,000.00 in damages based upon accusations that (1) unsuitable recommendations had been made by Buchsbaum concerning the purchase and retention of […]

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Investors Sue Alexander Capital Rogue Stockbroker

Ryan Michael Murnane of New York New York a stockbroker formerly employed by Alexander Capital L.P. is referenced in a customer initiated investment related arbitration claim where the customer requested $1,800,000.00 in damages supported by accusations that (1) recommendations of leveraged exchange traded funds and oil and gas investments were in no way suitable for […]

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Wells Fargo Stockbroker Barred For Private Securities

Joseph Hersey Pratt II (also known as Joseph Hersey Butcher) of Conshohocken Pennsylvania a stockbroker formerly registered with Wells Fargo has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based in part on findings that Pratt executed private securities transactions during the time that he was employed by […]

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Merrill Lynch Sued By Investors For Misrepresentation

Richard Bruce Sladek (also known as Dick Sladek) of Coeur D’Alene Idaho a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith incorporated is referenced in a customer initiated investment related arbitration claim where the customer requested unspecified damages founded on accusations of false or misleading statements in regard to real estate securities or investments […]

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Investors Sue American Portfolio Financial For Fraud

Jimmy William Kuhn of Smithtown New York a stockbroker registered with American Portfolios Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought damages estimated to exceed $5,000.00 founded on accusations that fiduciary duties were breached; contractual obligations to the customer had been violated; trades failed to be […]

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Investors Sue Hennion Walsh For Defective Investment Advice

William Hennion of Parsippany New Jersey a stockbroker currently registered with Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $300,000.00 in damages supported by allegations that between 2015 and 2018, the customer was provided poor investment advice from Hennion as it pertained to investments […]

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National Securities Corp Sued For Breach Of Fiduciary Duty

James J. Mariani of Mineola New York a stockbroker formerly registered with National Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought $467,000.00 in damages supported by accusations that (1) fiduciary duties failed to be complied with and (2) real estate security transactions executed in the customer’s […]

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Moloney Securities Sued For Alternative Investment Fraud

Joseph John Weinrich Sr. of Overland Park Kansas a stockbroker formerly registered with Moloney Securities Co. Inc. is referenced in a customer initiated investment related civil action brought in the Circuit Court of Jackson County Missouri where the customer sought $225,000.00 in damages based upon accusations of (1) nondisclosures concerning the risks of venture capital […]

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Investors Sue Stifel Nicolaus For Excessive Trading

Patrick John McLaughlin of Boca Raton Florida a stockbroker currently registered with Stifel Nicolaus Company Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $300,000.00 in damages based upon accusations that (1) stock trades were executed on an excessive basis and (2) unauthorized over-the-counter equities transactions were effected […]

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Lowell Company Sued For Exchanged Traded Fund Trading Misconduct

Jody Bryant Bowers of Abilene Texas a stockbroker formerly employed by Lowell Company Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages supported by accusations that (1) exchanged traded funds had been misrepresented and (2) the customer was provided with bad investment recommendations […]

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Geneos Sued By Investors For Defective REIT Recommendations

Joseph Sylvester Sturniolo (also known as Joe Sturniolo) a stockbroker currently registered with Geneos Wealth Management Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $237,500.00 in damages based upon accusations that the customer had been provided bad investment advice from Sturniolo with regard to investments including multiple non-traded […]

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Investors Sue National Securities Corp For Fraud

Todd Joseph Henrich of Iselin New Jersey a stockbroker formerly employed by National Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer was awarded $14,441.79 in compensatory damages based upon Henrich being found liable on the customer’s claims of (1) misrepresentations concerning the terms or risks of investments […]

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SEC Charges LPL Stockbroker With Ponzi Scheme

James Thomas Booth of Norwalk Connecticut a stockbroker formerly registered with both LPL Financial LLC and Invest Financial Corporation and the founder of Booth Financial Associates has been charged by Securities Exchange Commission (SEC) in a Complaint alleging that Booth engaged in a Ponzi scheme in which forty investors were defrauded. SEC v. James T. […]

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Voya Sued By Investors For Bad Alternative Investments

James Travis Flynn of Greenville South Carolina a stockbroker formerly registered with Voya Financial Advisors Inc. is the subject of a customer initiated investment related complaint on August 26, 2019 in which the customers requested damages estimated to exceed $5,000.00 supported by allegations that (1) real estate security and direct investments failed to comport with […]

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Voya Sued By Investors For Bad Alternative Investments

Gregory Scott Young of Columbia South Carolina a stockbroker formerly employed by Voya Financial Advisors Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought between $50,000.00 and $100,000.00 in damages supported by accusations that the customer had been placed into structured steepener notes and alternative investment products that failed […]

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Regulator Investigates AISG Stockbroker Unlawful Transactions

Thomas Joseph Logue Jr. of Hinsdale Illinois a stockbroker formerly registered with American Independent Securities Group LLC is the subject of a regulatory action initiated by the Illinois Securities Department in reference to allegations of Logue’s failure to provide documentation to the regulator after he was subpoenaed during an investigation into his potentially unsuitable and […]

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Investors Sue SW Financial For Churning

Dimitrios Aivaliotis (also known as Jim Aivaliotis and as Jimmy Aivaliotis) of Melville New York a stockbroker formerly registered with SW Financial is referenced in a customer initiated investment related arbitration claim which was resolved for $14,999.00 in damages supported by allegations that (1) trades were effected without authorization (2) contractual obligations had been violated […]

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Investors Accuse Ameriprise Of Providing Bad Investment Advice

Richard Paul Martin of Wappinger Falls New York a stockbroker currently registered with Ameriprise Financial Services Inc. is the subject of a customer initiated investment related complaint on April 29, 2019 where the customer requested $13,763.63 in damages based upon allegations of the customer being poorly advised by Martin in regard to the purchase of […]

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Investors Sue Vestech For Unauthorized Trading

Randy T. Carpen of Saint Louis Missouri a stockbroker formerly employed by Vestech Securities Inc. and Freedom Investors Corp. is referenced in a customer initiated investment related arbitration claim where the customer sought $300,000.00 in damages founded on allegations that (1) trades were executed on an excessive basis (2) transactions lacked authorization and (2) stocks […]

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First Kentucky Sued By Investors For Fraud

William Cranston Fenwick Jr. (also known as Bill Fenwick) of Louisville Kentucky a stockbroker currently registered with First Kentucky Securities Corporation is the subject of a customer initiated investment related arbitration claim where the customer requested unspecified damages supported by allegations that (1) the customer’s account was administered negligently (2) contractual obligations had been breached […]

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NSC Terminates Stockbroker For Providing Bad Investment Advice

October 14, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

John Kirkland Moy of Boca Raton Florida a stockbroker formerly employed by National Securities Corporation has been terminated from the securities broker dealer on April 5, 2019 based upon allegations of Moy giving bad advice to customers concerning the liquidation of their accounts. This is not the first time that Moy has been terminated from […]

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Newbridge Securities Sued By Investors For Fraud

Joseph Benjamin Baldassarra of Coral Springs Florida a stockbroker formerly registered with Newbridge Securities Corporation is the subject of a customer initiated investment related arbitration claim which was settled to resolve accusations that (1) negligent misrepresentations had been made to the customer (2) fiduciary duties were breached and (3) the customer had been defrauded as […]

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Investors Accuse Berthel Fisher Of Fraud

Steve Jeffrey Cummings of Fort Deposit Alabama a stockbroker formerly employed by Berthel Fisher Company Financial Services Inc. is the subject of a customer initiated investment related complaint on July 30, 2019 where the customers requested more than $5,000.00 in damages based upon allegations that (1) false or misleading statements had been made by the […]

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Aegis Capital Corp Sued For Breach Of Fiduciary Duty

Stephen Giannantonio (also known as Steve Gannantaonio) of New York New York a stockbroker currently registered with Aegis Capital Corp is the subject of a customer initiated investment related arbitration claim where the customer requested $304,000.00 in damages based upon accusations that (1) the customer’s account was churned (2) contractual obligations had been breached (3) […]

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Ameriprise Stockbroker Sanctioned For Mismarking Trades

William George Davis of Atlanta Georgia a stockbroker formerly employed by Ameriprise Financial Services Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that (1) Davis solicited investments that were not authorized by Ameriprise to be solicited and (2) Davis mismarked […]

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Investors Accuse UBS Of Unauthorized Transactions

Alex Gerardo Herrera of Coral Gables Florida a stockbroker formerly registered with UBS Financial Services Inc. is the subject of a customer initiated investment related complaint which was settled for $137,500.00 on August 19, 2019 supported by allegations that between 2013 and 2016, the customer’s funds had been relocated by Herrera without the customer’s permission. […]

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Wells Fargo Sued By For Defective Investment Advice

John Bradford Leonard of Toledo Ohio a stockbroker formerly employed by Wells Fargo Advisors is the subject of a customer initiated investment related arbitration claim which was resolved for $265,000.00 in damages supported by allegations of unsuitable stock recommendations having been made during the time that Leonard was employed by Wells Fargo Clearing Services LLC. […]

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SW Stockbroker Sanctioned By FINRA For Failure To Comply

Andrew Caputo Spaventa of Melville New York a stockbroker formerly registered with Salomon Whitney Financial has been suspended on September 6, 2019 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations of Spaventa’s failure to comply with a customer initiated investment related settlement agreement. FINRA Public Disclosure confirms […]

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Investors Sue Raymond James Over Bad Investments

Ronald Harris Rothchild of Garden City New York a stockbroker formerly registered with Raymond James Financial Services is referenced in a customer initiated investment related arbitration claim which was resolved for $50,000.00 in damages based upon accusations that (1) the customer’s account was overconcentrated in bad investments (2) fiduciary duties had been breached (3) the […]

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Merrill Lynch Sued By Investors For Bad Investment Advice

Christopher David Sadaka of Jupiter Florida a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim where the customer sought unspecified damages supported by accusations that between May of 2014 and March of 2017: (1) false or misleading statements had been made concerning oil […]

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Raymond James Sued By Investors For Breach Of Contract

Adam Saul Frankfort of New York New York a stockbroker currently employed by Raymond James Associates Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $1,000,000.00 in damages based upon accusations that when Frankfort was associated with Raymond James and former securities broker dealer Deutsche Bank Securities: (1) […]

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Investors Accuse LPL Financial Of Misrepresentation

Donald Stephen Woods of Louisville Kentucky a stockbroker formerly registered with LPL Financial LLC is referenced in a customer initiated investment related complaint on June 3, 2019 where the customer sought damages estimated to exceed $5,000.00 supported by accusations that (1) bad recommendations of alternative investments including business development companies had been made to the […]

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Network 1 Financial Sued For Bad Private Placements Sales

Wesley Owen Clinton of Seaford New York a stockbroker currently registered with Network 1 Financial Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $145,000.00 in damages based upon allegations that (1) the customer was placed in private placements and over-the-counter equities which were inappropriate given the customer’s […]

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Investors Sue Wells Fargo For Defective Investment Advice

Betty Rodriguez of Weston Florida a stockbroker formerly registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related arbitration claim which was settled for $23,000.00 in damages supported by accusations that (1) the customer’s account had been over-concentrated in mutual fund products which resulted in losses and (2) the […]

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Morgan Stanley Sued By Investors For Misrepresentation

Timothy Thomas Gibbons of New Orleans Louisiana a stockbroker formerly employed by Morgan Stanley is the subject of a customer initiated investment related arbitration claim where the customer sought $225,708.00 in damages supported by allegations that (1) energy-sector over-the-counter equities transactions executed in the customer’s account were unsuitable for the customer and (2) false or […]

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National Securities Corp Sued For Breach Of Fiduciary Duty

Michael Patrick McMahon of Garden City New York a stockbroker formerly registered with National Securities Corporation is referenced in a customer initiated investment related arbitration claim in which the customer requested $280,000.00 in damages founded on accusations that (1) improper or misleading statements had been made concerning investments (2) the customer’s account was handled in […]

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Investors Sue Wedbush For Unauthorized Trading

Mark Fred Augusta of Solana Beach California a stockbroker formerly registered with Wedbush Securities is referenced in a customer initiated investment related arbitration claim in which the customer requested $398,832.00 in damages based upon accusations that (1) bond trades effected by Augusta failed to be suitable for the customer and (2) unauthorized transactions were executed […]

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GMS Group Sued By Investors For Bad Investment Advice

Travis Alan Knadle of Boca Raton Florida a stockbroker currently employed by The GMS Group LLC is referenced in a customer initiated investment related arbitration claim which was settled to resolve allegations that investment recommendations made to the customer were not suitable in regard to the municipal and corporate debt transactions effected in the customer’s […]

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Investors Sues Legacy Asset Securities For Stockbroker Ponzi Scheme

William Andrew Hightower of Houston Texas a stockbroker formerly registered with Legacy Asset Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought unspecified damages supported by accusations that (1) the customer’s account had been liquidated by Hightower without the customer’s authorization and (2) funds were improperly used to […]

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Moors Cabot Sued By Investors For Stockbroker Negligence

Scott Allen Sibley of Boca Raton Florida a stockbroker formerly registered with Moors Cabot Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested damages estimated to exceed $5,000.00 founded on allegations that (1) the customer’s account was handled in a negligent manner (2) contractual obligations had been breached […]

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Regulators Bar MetLife Stockbroker For Fraud

James Paul Kolf of Madison Wisconsin a stockbroker formerly registered with MetLife Securities Inc. has been barred from being a stockbroker or an investment adviser or associating with securities broker dealers or investment advisories according to an Order Instituting Administrative Proceedings, Making Findings and Imposing Remedial Sanctions issued by Securities Exchange Commission (SEC) based upon […]

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Cova Capital Sued By Investors For Fraud

Michael Lawrence Oromaner of Syosset New York a stockbroker formerly employed by Cova Capital Partners LLC is the subject of a customer initiated investment related arbitration claim where the customer was awarded $75,672.00 in damages based upon Oromaner being found liable on the customer’s claims including (1) breach of fiduciary duty (2) breach of contract […]

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FINRA Bars Raymond James Stockbroker For Obstruction

Stefan Anton Pastor of Fort Lauderdale Florida a stockbroker formerly registered with Raymond James Financial Services Inc. has been 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 an investigation into allegations of him: (1) effecting trades in a […]

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Northwestern Mutual Investment Services Terminates Stockbroker For Alleged Misappropriation

Daniel Joe Wilson of Columbus Junction Iowa a stockbroker formerly registered with Northwestern Mutual Investment Services has been terminated on February 5, 2018 based upon allegations of (1) Wilson engaging in unauthorized activities in a customer’s account and (2) Wilson engaging in unapproved activities during a time that he was suspended by Financial Industry Regulatory […]

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Morgan Stanley Sued By Investors Over ETF Sales

Edward Louis Barger of Miami Florida a stockbroker formerly employed by Morgan Stanley is the subject of a customer initiated investment related arbitration claim which was settled for $92,500.00 in damages based upon accusations of the customer being sold bad over-the-counter equities, closed-end funds and common and preferred stocks. FINRA Arbitration No. 17-02301 (Oct. 23, […]

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Investors Sue Merrill Lynch For Misrepresentation

September 13, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News, Suitability   |   0 Comments

Lorenzo C. Esteva of Miami Florida a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $225,000.00 in damages supported by allegations that (1) omissions and unfounded statements had been made to the customer concerning the terms and conditions […]

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Woodbury Financial Stockbroker Barred By Regulator

Robert Hayes Hoffman of Indianapolis Indiana a stockbroker formerly registered with Woodbury Financial Services has been barred from being a stockbroker in the State of Indiana according to an Indiana Securities Division Order based upon findings of Hoffman being expelled from a self-regulatory organization for misconduct in the securities industry. Case No. 18-0001 SB (Jan. […]

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Investors Sue Spartan Capital Securities For Churning

Marc Augustus Reda of New York New York a stockbroker currently registered with Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim in which the customer was awarded $15,381.00 in damages based upon Spartan Capital Securities being found liable on the customer’s claims including churning of the customer’s account by […]

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Spartan Capital Sued For Breach Of Fiduciary Duty

Robert John Murray of New York New York a stockbroker formerly registered with Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim in which ten customers collectively requested $6,645,956.00 in damages based upon allegations that (1) fiduciary duties owed to customers had been violated (2) misrepresentations had been made concerning […]

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Investors Sue Vanderbilt Securities For Unsuitable Recommendations

September 13, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News, Suitability   |   0 Comments

Mark Kaplan of Woodbury New York a stockbroker formerly registered with Vanderbilt Securities LLC is referenced in a customer initiated investment related arbitration claim which was settled for $55,000.00 in damages based upon accusations that the customer’s common and preferred stock and over-the-counter equities holdings were inappropriate for the customer and had poorly performed. Financial […]

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Madison Avenue Securities Accused Of Excessive Trading

David Lloyd Barber of San Diego California a stockbroker formerly registered with Madison Avenue Securities LLC is referenced in a customer initiated investment related written complaint which was settled on August 1, 2018 for $22,500.00 in damages founded on allegations that (1) trades were executed in the customer’s account in an excessive manner and (2) […]

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Investors Sue Oppenheimer For Securities Fraud

Michael Alexander Lackwood a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought as much as $500,000.00 in damages founded on allegations that between January 1, 2014 and June 30, 2018: (1) fiduciary duties had been breached (2) the customer’s account was […]

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RBC Sued By Investors For Misrepresentation

John Scott Simpson of Hunt Valley Maryland a stockbroker formerly registered with RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $27,500.00 in damages founded on accusations that between 2012 and 2016: (1) false or misleading statements had been made concerning the performance of the customer’s […]

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Janney Montgomery Sued By Investors For Negligence

Laurence Michael Braunstein of New York New York a stockbroker registered with Janney Montgomery Scott LLC is the subject of a customer initiated investment related arbitration claim which was resolved for at least $14,999.00 in damages based upon accusations that when Braunstein was associated with Morgan Stanley, First Allied Securities and Janney Montgomery Scott: (1) […]

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Aegis Capital Sued By Investors For Misconduct

Michael Christopher Venturino of Garden City New York a stockbroker formerly registered with Aegis Capital Corp is the subject of a customer initiated investment related arbitration claim which was settled for $300,668.16 in damages based upon accusations that (1) investment recommendations made to the customer failed to be suitable (2) unauthorized trades were effected in […]

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Oppenheimer Sued By Investors For Breach Of Contract

Robert Abramowitz of Jericho New York a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for more than $50,000.00 in damages founded on accusations that (1) fiduciary duties had been violated (2) the customer’s investment account was handled in a negligent manner […]

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J.J.B. Hilliard Sued Over Oil And Gas Investments

Mark Fallon Kregor of Louisville Kentucky a stockbroker currently registered with J.J.B. Hilliard W.L. Lyons LLC is referenced in a customer initiated investment related arbitration claim which was settled for $87,500.00 in damages founded on accusations that the customer was placed into defective oil and gas investments which resulted in losses. FINRA Arbitration No. 18-03128 […]

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Voya Stockbroker Barred By FINRA In Investigation

August 28, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Robert Daniel Witt of Libertyville Illinois a stockbroker formerly registered with Voya Financial Advisors Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that Witt failed to provide FINRA with information that was requested of him and then failed to seek termination of his […]

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Investors Sue Westminster Financial For Misrepresentation

Louis Anthony Telerico of Dayton Ohio a stockbroker formerly registered with Westminster Financial Securities Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $468,249.17 in damages founded on accusations that (1) unfounded statements and omissions had been made by Telerico concerning investments (2) trades failed to be suitable […]

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Investors Accuse Next Financial Of Providing Bad Investment Advice

Stephen Joe Williams of Madison Alabama a stockbroker currently registered with Next Financial Group is the subject of a customer initiated investment related written complaint which was resolved for $24,000.00 on November 2, 2018 supported by accusations that the customer was sold illiquid and inappropriate real estate securities that have since become worthless. Financial Industry […]

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FINRA Sanctions Paulson Stockbroker For Unauthorized Trading

Michael Patrick Nixon of Tampa Florida a stockbroker currently registered with Paulson Investment Company LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Nixon executed trades in accounts of Paulson Investment Company customers without written authorization from either customers or […]

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Worden Capital Stockbroker Barred For Churning

Gregory Thomas Dean of Rockville Centre New York a stockbroker employed by Worden Capital Management LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that (1) Dean churned a customer’s investment account and (2) Dean made unsuitable and excessive trades in customer accounts. Letter […]

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Madison Avenue Stockbroker Barred In Selling Away Investigation

Bryan Joseph Clark of Atascadero California a stockbroker employed by Madison Avenue Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Clark failed to cooperate with FINRA personnel during an investigation into accusations of (1) Clark engaging in outside business activities that […]

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Investors Sue Sterne Agee For Securities Fraud

Richard Michael Wesselt of Collegeville Pennsylvania a stockbroker employed by The O.N. Equity Sales Company and Sterne Agee Financial Services Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $10,000,000.00 in damages based upon accusations that (1) false or misleading statements and omissions had been made to the […]

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Cetera Advisors Stockbroker Sanctioned For Selling Away

Roger Lee Owens of Elkton Maryland a stockbroker employed by Cetera Advisors LLC has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings of Owens engaging in private securities transactions in which he sold Cetera customers promissory notes in Woodbridge Group of Companies […]

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National Planning Sued For Broker Selling Away Dope Stocks

Timothy John Beall of Eau Claire Michigan a stockbroker registered with National Planning Corporation is the subject of a customer initiated investment related arbitration claim where the customer requested $700,000.00 in damages founded on allegations that (1) Beall executed the customer’s purchase of GrowCo Inc. away from National Planning Corporation without the securities broker dealer’s […]

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Investors Sue Morgan Stanley Over UIT Fraud

Michael Bruce Ralby of Boca Raton Florida a stockbroker employed by Morgan Stanley is the subject of a customer initiated investment related arbitration claim where the customer sought unspecified damages based upon accusations that between 2015 and 2017, the customer had been placed into unit investment trust and municipal debt products that failed to be […]

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FINRA Charges Financial West Stockbroker With Churning

Daniel Gordon Maughan of Los Angeles California a stockbroker registered with Financial West Group has been charged in a Complaint brought by Financial Industry Regulatory Authority (FINRA) Department of Enforcement alleging that (1) Maughan churned a customer’s investment account and (2) Maughan made unsuitable trades while he was employed by Financial West Group. Department of […]

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MetLife Sued By Investors For Misrepresentation

William Roy Kimberlin of Dallas Texas a stockbroker registered with MetLife Securities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $15,000.00 in damages based upon accusations that securities laws had been violated by way of false and misleading statements being made to the customer about an […]

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Alexander Capital Stockbroker Barred By SEC For Fraud

Rocco Roveccio of Staten Island New York a stockbroker registered with Alexander Capital L.P. has been barred from being a stockbroker or investment adviser or otherwise associating with any securities broker dealers or investment advisories according to a Securities and Exchange Commission (SEC) Order Instituting Administrative Proceedings supported by allegations that (1) Roveccio effected unauthorized […]

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National Planning Corporation Sued Over Bogus Promissory Notes

William August Glaser (also known as Bill August Glaser) of Saint Albans Missouri a stockbroker registered with National Planning Corporation is referenced in a customer initiated investment related arbitration claim which was resolved for $600,000.00 in damages founded on accusations that (1) false or misleading statements had been made to the customer concerning promissory note […]

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Money Concepts Capital Corp Sued For Negligence

Craig Alan Sutherland of Columbus Ohio a stockbroker registered with Money Concepts Capital Corp is the subject of a customer initiated investment related arbitration claim in which an Arbitration Panel ordered Money Concepts Capital Corp to pay the customer $698,979.00 in compensatory damages based on finding the firm liable on the customer’s claims including (1) […]

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David A. Noyes Sued Over Alternative Investments

Scott Lindsay Reed of Indianapolis Indiana a stockbroker registered with David A. Noyes Company is referenced in a customer initiated investment related arbitration claim which was settled for $395,000.00 in damages supported by allegations that (1) false or misleading statements and omissions had been made to the customers concerning the terms of non-traded real estate […]

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Investors Sue National Planning Corp For Negligence

Timothy David Ballard (also known as Tim Ballard) of Danville California a stockbroker employed by National Planning Corporation is referenced in a customer initiated investment related arbitration claim where the customer sought more than $100,000.00 in damages supported by allegations that (1) the customer’s account was handled in a negligent manner (2) fiduciary obligations were […]

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Berthel Fisher Sued By Investors For Churning

Mason Wayne Gann of Dallas Texas a stockbroker employed by Berthel Fisher Company Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which was settled for $40,000.00 in damages on January 22, 2019 supported by accusations that (1) Gann churned the customer’s investment portfolio (2) Gann executed unauthorized trades in the […]

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Investors Sue Four Points For Unauthorized Trading

August 16, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

George Anthony Nikolakakos of New York New York a stockbroker registered with Four Points Capital Partners LLC is referenced in a customer initiated investment related arbitration claim which was settled for $87,500.00 in damages founded on allegations that common and preferred stock trades were effected in violation of FINRA rules and securities laws while Nikolakakos […]

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Investors Sue Laidlaw Company For Churning

Joseph Michael Fedorko Jr. of Greenwich Connecticut a stockbroker currently registered with Laidlaw Company is the subject of a customer initiated investment related arbitration claim where the customer sought $342,000.00 in damages based upon accusations that between 2012 and 2017: (1) unauthorized common and preferred stock and over-the-counter equities trades were executed in the customer’s […]

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First Allied Sued By Investors For Failure To Supervise

Virgil John Threlkeld of Alamo California a stockbroker registered with First Allied Securities Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $17,500.00 in damages supported by accusations that (1) false or misleading statements had been made to the customer by Threlkeld in regard to the customer’s investments in […]

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Raymond James Stockbroker Barred For Failure To Cooperate

Eldridge Foster Parks of Saginaw Michigan a stockbroker employed by Raymond James Associates Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Parks failed to testify before FINRA personnel during an investigation into allegations of Parks making bad investment recommendations to customers of […]

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Morgan Stanley Sued For Broker Selling Away Private Placements

Darrell Walter Rideaux of Los Angeles California a stockbroker employed by Morgan Stanley is the subject of a customer initiated investment related arbitration claim which was resolved for $130,000.00 in damages supported by allegations that an unauthorized investment solicited by Rideaux when he was employed by Morgan Stanley caused the customer to incur unwarranted losses. […]

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Investors Sue Newbridge Securities For Excessive Trading

Stephen James Sullivan of New York New York a stockbroker employed by Newbridge Securities Corporation is referenced in a customer initiated investment related arbitration claim in which the customer sought $540,618.00 in damages founded on allegations that (1) trades had been executed in the customer’s account in excessive amounts (2) transactions were not suitable for […]

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United Planners Sued By Investors For Misrepresentation

Jerry Lou Guttman of Phoenix Arizona a stockbroker employed by United Planners’ Financial Services of America is referenced in a customer initiated investment related arbitration claim where the customer sought $1,700,000.00 in damages founded on accusations that (1) false or misleading statements were made to the customer by Guttman in regards to LLC membership interests […]

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FINRA Bars Arive Stockbroker In Investigation

Lisa Acca of Bay Ridge New York a stockbroker registered with Arive Capital Markets has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Acca failed to submit documentation to FINRA and provide testimony in the course of a FINRA investigation into allegations of her […]

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Dawson James Accused By More Investors Of Misconduct

Marc Scott Steinberg of Boca Raton Florida a stockbroker registered with Dawson James Securities Inc. is the subject of a customer initiated investment related complaint on April 26, 2018 in which the customer requested $39,796.42 in damages supported by accusations that stock trades effected in the customer’s account failed to be suitable for the customer. […]

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Morgan Stanley Sued For Unauthorized Trading

Alex Muscati III of Palm Harbor Florida a stockbroker currently registered with Morgan Stanley Smith Barney is the subject of a customer initiated investment related arbitration claim which was settled for $87,500.00 in damages supported by accusations that unauthorized structured product trades were effected in the customer’s account during the time Muscati was associated with […]

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Garden State Stockbroker Barred For Failure To Pay Arbitration Award

Alexander Kibrik of New York New York a stockbroker registered with Garden State Securities Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations of Kibrik failing to comply with the terms of a FINRA Arbitration Award. Case No. 16-03304 (June 12, 2018). FINRA Public […]

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Investors Sue Worden Capital For Breach Of Fiduciary Duty

John Sebastian Cangialosi of New York New York a stockbroker currently registered with Worden Capital Management LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $37,399.00 in damages founded on accusations that (1) the customer’s account was administered negligently (2) false or misleading statements and omissions had […]

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IAA Stockbroker Sanctioned For Unauthorized Trading

Michael Patrick Spolar of Orlando Florida a stockbroker formerly registered with International Assets Advisory LLC has been suspended for fifteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that (1) Spolar effected trades in the investment accounts of International Assets Advisory customers without authorization from either […]

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Citigroup Sued By Investors For Bad Mutual Fund Advice

Timothy Trevor Kenska of Encinitas California a stockbroker currently registered with Citigroup Global Markets Inc. is the subject of a customer initiated investment related arbitration claim which was settled to resolve accusations of bad mutual fund trades being effected in the customer’s account between 2015 and 2017. Financial Industry Regulatory Authority (FINRA) Arbitration No. FINRA […]

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Investors Sue Oppenheimer For Churning

Luigi Edward Mancusi (also known as Lou Mancusi) of Lake Forrest Illinois a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $25,000.00 in damages based upon accusations that (1) Mancusi churned the customer’s account (2) Mancusi executed unauthorized trades and (3) […]

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Garden State Securities Sued For Excessive Trading

Terry Lee Brodt Jr. of Red Bank New Jersey a stockbroker registered with Garden State Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $500,00.00 in damages founded on accusations that (1) contractual obligations to the customer had been breached (2) trades were effected on an excessive basis […]

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Investors Accuse Principal Securities Of Misrepresentation

Matthew Lee Geiser of Grand Island Nebraska a stockbroker formerly registered with Principal Securities Inc. is the subject of a customer initiated investment related complaint which has been settled for $63,653.28 in damages on January 22, 2018 founded on accusations that Geiser falsified information concerning the guaranteed returns of an annuity he sold to the […]

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TCM Stockbroker Barred By FINRA In Investigation

James Hal Heafner of Charlotte North Carolina a stockbroker formerly registered with Taylor Capital Management Inc. (now known as TCM Securities Inc.) has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Heafner neglected to cooperate with FINRA during the time in which he was […]

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Aegis Capital Sued By Investors For Failure To Execute

Robert Anthony Guidicipietro (also known as Robert A. Peters) of Holmdel New Jersey a stockbroker formerly registered with Aegis Capital Corp. is referenced in a customer initiated investment related written complaint which was resolved for $36,272.00 on September 6, 2018 founded on allegations that the customer’s stop loss order had been disregarded by Guidicipietro during […]

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FINRA Fines Morgan Stanley Stockbroker For Settling Away

Eric Nichols of Rolling Hills California a stockbroker formerly employed by 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 Nichols resolved a customer’s investment related dispute outside the firm’s auspices. Letter of Acceptance Waiver and Consent […]

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Kalos Sued By Investor For Bad Investment Recommendations

Daniel Ray Saur of Dallas Texas a stockbroker currently registered with Kalos Capital Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $60,000.00 in damages founded on accusations that (1) investment recommendations concerning real estate security and oil and gas products failed to be suitable for the customer and […]

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Paulson Stockbroker Sanctioned By FINRA For Unauthorized Trading

Matthew David Albers of Vienna Virginia a stockbroker formerly registered with Paulson Investment Company LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that trades were placed by Albers in customer accounts without authorization. Letter of Acceptance Waiver and Consent No. […]

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Citigroup Accused Of Private Placement Misconduct

James Arthur Allen (also known as Jim Allen) of Skokie Illinois a stockbroker formerly registered with Citigroup Global Markets is the subject of a customer initiated investment related complaint which was resolved on August 22, 2018 for $73,000.00 in damages based upon allegations that (1) Allen failed to inform the customer about the risks pertaining […]

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FINRA Bars Worden Capital Stockbroker In Investigation

Joseph Francis Valdini of Garden City New York a stockbroker formerly employed by Worden Capital Management LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Valdini failed to respond to a request FINRA made regarding Valdini’s activities which possibly related to his disclosures […]

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Investors Sue AXA Advisors For Bad Investment Strategy

Brent Stephen Spicuzza of Chesterfield Missouri a stockbroker formerly registered with AXA Advisors LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $1,100,000.00 in damages based upon allegations that the investment strategy Spicuzza used for the customer’s retirement accounts and brokerage accounts was unsuitable given the customer’s […]

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FINRA Bars Former Ameriprise Stockbroker For Failure To Pay Arbitration Award

Li-Lin Hsu (also known as Yilin Hsu) of Los Angeles California a stockbroker formerly registered with Ameriprise Financial Services Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Hsu failed to comply with paying a customer $675,000.00 in damages after being found liable […]

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Cape Stockbroker Barred For Failure To Pay Arbitration Award

Christopher John Calandrino (also known as Chris Calandrino) of Coram New York a stockbroker formerly registered with Cape Securities Inc. has been suspended on March 19, 2018 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Calandrino failed to comply with his obligations to pay a customer […]

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NYLife Stockbroker Convicted Of Wire Fraud

Jonathan Spencer Williams of Timonium Maryland a stockbroker formerly employed by NYLife Securities pled guilty to one count of felony wire fraud (18. U.S.C. § 1343) as part of a scheme which caused customers of NYLife Securities to incur approximately $2,800,000.00 in losses. Criminal Action No. 1:18cr183 (D. Md. Apr. 29, 2019). Evidently, customers were […]

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Investors Sue Northland Securities For Fraud

Nicholas Harris Shermeta (also known as Nick Shermeta) of Minneapolis Minnesota a stockbroker formerly employed by Northland Securities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $409,949.79 in damages supported by allegations that (1) transactions had been effected by Shermeta in violation of Minnesota Securities Act […]

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Former J.P. Turner Stockbroker Charged With Pre-arranged Trading Fraud

Ricky Alan Mantei (also known as Ricky Alan Mantel) of Lexington South Carolina a stockbroker and branch office manager formerly employed by J.P. Turner Company LLC has been charged by Financial Industry Regulatory Authority Department of Enforcement in a Complaint alleging that Mantei engaged in unauthorized prearranged trading involving customer accounts while employed by J.P. […]

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Legend Securities Sued By Investors For Fraud

Michael Salvatore Stanton of New York New York a former Director of Capital Markets for Legend Securities Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $15,000,000.00 in damages founded on allegations that (1) contractual obligations to the customer had been breached (2) the customer’s account was administered […]

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GF Investment Services Sued By Investors Over ETF Sales

Richard William Lunn Martin of Penang a stockbroker formerly employed by G.F. Investment Services LLC is the subject of a customer initiated investment related arbitration claim which settled for $117,000.00 in damages founded on accusations that (1) fiduciary duties owed to the customer had been breached (2) due diligence was not properly executed on investments […]

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LPL Financial Sued By Investors For Churning

Lance R. Shaw of Wynnewood Pennsylvania a stockbroker formerly employed by LPL Financial LLC is the subject of a customer initiated investment related arbitration claim which settled for $65,000.00 in damages founded on accusations that (1) unauthorized trades were executed in the customer’s account (2) trades were effected in an excessive manner (3) misrepresentations had […]

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Investors Sue Merrill Lynch For Bad Investment Advice

Thomas Alan Braley of Saginaw Michigan a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested unspecified damages supported by accusations that between 2013 and 2016, the customer was provided bad investment recommendations concerning common and preferred stocks while […]

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Oppenheimer Sued By Investors For Misrepresentation

August 02, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Joel Eric Breiter of Westhampton New York a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which settled for $112,500.00 in damages founded on accusations that (1) Breiter’s investment recommendations failed to be suitable given the customer’s risk tolerance and (2) misrepresentations had been made […]

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FINRA Sanctions NBC Stockbroker For Unauthorized Trading

Brian Gregory DiJulio of Bellevue Washington a stockbroker formerly registered with NBC Securities 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 (1) DiJulio executed unauthorized trades in customer accounts while employed by NBC Securities Inc. and (2) […]

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Morgan Stanley Stockbroker Barred In Theft Investigation

Robert Frederico Montes of Palm Harbor Florida a stockbroker formerly employed by Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Montes failed to comply with FINRA’s investigation into allegations of him misappropriating funds belong to an elderly customer of Morgan Stanley. […]

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SagePoint Sued By Investors For Stockbroker Theft

Timothy Francis Dufresne of Bamberg South Carolina a stockbroker formerly employed by SagePoint Financial Inc. is referenced in a customer initiated investment related civil action brought in the Bamberg County South Carolina Court of Common Pleas in which the customer sought unspecified damages based upon accusations of the embezzlement of the customer’s funds by Dufresne […]

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Investors Sue Madison Avenue Securities For Fraud

Noel Ray Vincent of Southfield Michigan a stockbroker formerly registered with Madison Avenue Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages based upon allegations that (1) the customer’s assets were handled in a negligent manner (2) fiduciary duties were breached […]

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Investors Sue National Securities Corp For Bad Investment Advice

William Francis Gillis of Seattle Washington a stockbroker formerly registered with National Securities Corporation is referenced in a customer initiated investment related arbitration claim which settled for $514,600.00 in damages based upon accusations that Gillis gave the customer bad investment recommendations particularly concerning the common or preferred stocks held in the customer’s account while Gillis […]

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Regulator Bars Titus Rockefeller Stockbroker For Fraud

Andre Vincent LaBarbera of Dix Hills New York a stockbroker formerly registered with Titus Rockefeller LLC has been barred by Florida Office of Financial Regulation based upon findings that (1) LaBarbera churned customer accounts to generate commissions (2) LaBarbera effected trades that failed to be suitable for customers given their investment profiles (3) LaBarbera utilized […]

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Regulator Sanctions Spartan Capital Stockbroker For Misconduct

Dean John Kajouras of New York New York a stockbroker formerly registered with Spartan Capital Securities LLC is referenced in a Consent Order issued by the State of Massachusetts Securities Division which required Kajouras to cease and desist from making unsuitable recommendations or engaging in other conduct violative of Massachusetts Securities Laws and required Kajouras […]

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Investors Sue Salomon Whitney For Churning

Ahmad Wares (also known as Kevin Wares) of Melville New York a stockbroker formerly registered with Salomon Whitney Financial is the subject of a customer initiated investment related arbitration claim in which the customer requested $195,132.00 in damages based upon allegations that (1) Wares breached his contractual obligations to the customer (2) Wares executed unauthorized […]

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J.P. Morgan Sued By For Bad Investment Advice

Robert Owen Klein of Newport Beach California a stockbroker formerly employed by J.P. Morgan Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $1,500,000.00 in damages supported by accusations that inappropriate securities transactions were executed in the customer’s managed account while Klein was employed by J.P. Morgan Securities […]

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Investors Accuse Capital Financial Of Misrepresentation

Teresa Marie O’Clair of Bismarck North Dakota a stockbroker formerly employed by Capital Financial Services Inc. is referenced in a customer initiated investment related written complaint on June 1, 2017 where the customer sought damages estimated to exceed $5,000.00 based upon accusations that false or misleading statements had been made to the customer concerning the […]

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Investor Sues Sigma For Failure To Supervise TIC Sales

Tomas Juhan Velken of Lafayette California a stockbroker currently employed by Sigma Financial Corporation is referenced in a customer initiated investment related arbitration claim which was resolved for $28,195.50 in damages supported by accusations that the customer was placed into tenant in common investments which had not been adequately investigated by Sigma Financial Corporation or […]

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SA Stone Sued By InvestorsFor Bad Mutual Fund Advice

Joseph Christopher Alexander of Birmingham Alabama a stockbroker currently registered with SA Stone Wealth Management Inc. is referenced in a customer initiated investment related arbitration claim which settled for $75,000.00 in damages founded on accusations that mutual fund trades effected in the customer’s account failed to be suitable for the customer. FINRA Arbitration No. 16-02680 […]

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Investors Sue Capitol Securities For Bad Investment Advice

James Brian Moran of Florham Park New Jersey a stockbroker currently employed by Capitol Securities Management Inc. is referenced in a customer initiated investment related arbitration claim which settled for $110,000.00 in damages supported by accusations that the customer was placed in unsuitable oil and gas and stock investments in addition to inappropriate mutual fund […]

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Investors Capital Sued By Investors For Churning

Robert Estevez of Greenwich Connecticut a stockbroker formerly registered with Investors Capital Corp. is referenced in a customer initiated investment related arbitration claim which was resolved for $400,000.00 in damages founded on allegations that (1) misrepresentations had been made to the customer by Estevez concerning the customer’s equity investments (2) stock trades placed by Estevez […]

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FINRA Sanctions Stifel Stockbroker For Customer Loans

David Wilson Fleming Jr. of White Plains New York a stockbroker formerly registered with Stifel Nicolaus Company Incorporated 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 consenting to findings that Fleming inappropriately borrowed money from a Stifel Nicolaus customer […]

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Investors Sue Legend Securities For Securities Fraud

Bernardo Misseri of Staten Island New York a stockbroker formerly registered with Legend Securities Inc. has been ordered by a Financial Industry Regulatory Authority (FINRA) Arbitration Panel to pay a customer $110,622.95 in compensatory damages and $629,241.78 in punitive damages based upon the Panel finding that (1) Misseri negligently transacted in the customer’s account (2) […]

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Morgan Stanley Sued By Investors For Churning

Michael Frank Paesano of New York New York a stockbroker formerly registered with Morgan Stanley is referenced in a customer initiated investment related arbitration claim which settled for $145,000.00 in damages supported by allegations that (1) government debt trades were effected in the customer’s managed account in excessive amounts and (2) some of the customer’s […]

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Investors Sue Wells Fargo For Misrepresentation

Donald Shelby Toomer of Las Vegas Nevada a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $75,000.00 in damages supported by allegations that (1) transactions executed in the customer’s account failed to be suitable for the customer and […]

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Tutus Rockefeller Stockbroker Barred For Securities Fraud

Antonio Costanzo of Chesapeake Virginia a stockbroker formerly employed by Titus Rockefeller LLC (also known as TR Capital Group LLC) has been fined $10,000.00 and barred by Florida Office of Financial Regulation according to an Order founded on accusations that (1) Costanzo engaged in fraudulent investment transactions (2) Costanzo executed trades on margin without having […]

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Investors Sue Oriental Financial For Securities Fraud

Manuel Francisco Porrata Monserrate (also known as Manuel F. Porrata) of San Juan Puerto Rico a stockbroker formerly registered with Oriental Financial Services is referenced in a customer initiated investment related complaint where the customer sought $210,000.00 in damages based upon allegations that (1) the customer’s account was administered negligently (2) investment recommendations failed to […]

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Aegis Capital Sued By Investors For Unauthorized Trading

Nick Eugene Son of New York New York a stockbroker currently employed by Aegis Capital Corp. is referenced in a customer initiated investment related arbitration claim where the customer sought $224,968.00 in damages supported by allegations that (1) investment recommendations made to the customer were not suitable and (2) unauthorized trades had been executed in […]

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Beech Hill Sued By Investors For Breach Of Fiduciary Duty

Frank Hamrak of New York New York a stockbroker formerly registered with Beech Hill Securities Inc. and Beech Hill Advisors Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $195,271.67 in damages supported by allegations that (1) fiduciary duties owed to the customer had been breached (2) contract obligations […]

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Investor Sues Hennion Walsh For Bad Investment Advice

Joseph Ismael Rodriguez of Parsippany New Jersey a stockbroker currently employed by Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim which settled for $47,500.00 in damages founded on accusations that the customer was placed into investment grade municipal bonds from 2013 to 2017 which failed to be appropriate for […]

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Investors Accuse L.M. Kohn Of Unauthorized Trading

Charles John Ehnot of Dunmore Pennsylvania a stockbroker formerly registered with L.H. Kohn Company is the subject of a customer initiated investment related complaint that was settled for $20,000.00 in damages on April 5, 2017 based upon accusations that unauthorized real estate security transactions were effected in the customer’s account during the time that Ehnot […]

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Investors Sue Finance 500 For Securities Fraud

Robert Lansing Hicks (also known as Lance Hicks) of Irvine California a stockbroker and former owner of Finance 500 Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages founded on accusations that (1) contractual obligations to the customer had been breached (2) the customer’s account had […]

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Cetera Advisors Sued By Investors For Fraud

James Christopher Hayne of Mansfield Texas a stockbroker formerly registered with Cetera Advisors LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $325,000.00 in damages founded on allegations that Texas Securities Act and California Corporate Securities Law had been violated; contractual obligations to the customer were breached; the customer’s […]

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Prospera Financial Sued For Real Estate Investment Trust Misconduct

Andrew James Pravlik of Pittsburgh Pennsylvania a stockbroker formerly employed by Prospera Financial Services Inc. is the subject of a customer initiated investment related civil action brought in the Court of Common Pleas of Allegheny County Pennsylvania where the customer sought $175,000.00 in damages supported by allegations that while Pravlik was registered with Prospera Financial […]

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CV Brokerage Stockbroker Barred In Investigation

Brenda Ann Smith (also known as Brenda Smith Peterman) of West Conshohocken Pennsylvania a stockbroker and principal formerly registered with CV Brokerage Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Smith neglected to cooperate with FINRA personnel during an investigation […]

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Principal Securities Sued By Investors For Fraud

Fred Shlesinger of Addison Texas a stockbroker formerly employed by Principal Securities Inc. is the subject of a customer initiated investment related complaint on October 14, 2018 regarding Shlesinger’s conduct where the customer sought damages estimated to exceed $5,000.00 based upon accusations that misrepresentations were made to the customer concerning the funding of a variable […]

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Investors Sue Pruco Securities For Fraud

Terry Joe Bagwell of Birmingham Alabama a stockbroker formerly registered with Pruco Securities LLC is the subject of a customer initiated investment related arbitration claim which was settled for $120,000.00 in damages founded on accusations that Bagwell failed to supervise a stockbroker who sold away from the firm by placing customers into fraudulent unregistered securities […]

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Securities America Fires Stockbroker For Undisclosed Misconduct

July 22, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Cary Edward Scheer of Southlake Texas a stockbroker formerly employed by Securities America Inc. has been discharged by the firm on January 18, 2018 founded on allegations that (1) the firm received no cooperation from Scheer during the time he was probed internally by Securities America Inc. for potential infractions of company policies or industry […]

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HD Vest Sued By Investors For Stockbroker Theft

Brian Lamont Royster of Ann Arbor Michigan a stockbroker formerly registered with HD Vest Investment Services is referenced in a customer initiated investment related arbitration claim where the customer sought $295,936.76 in damages supported by allegations that (1) fraudulent misrepresentations had been made to the customer concerning the terms and fees relating to City Financial […]

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New Jersey Nails National Securities Stockbroker For Stockbroker Theft and Elder Abuse

Michael Alan Siegel of Edison New Jersey a stockbroker formerly registered with National Securities Corporation is the subject of a Summary Penalty and Revocation Order in which Siegel has been fined $100,000.00 and his stockbroker registration in the State of New Jersey was revoked based upon the New Jersey Bureau of Securities Bureau Chief’s findings […]

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Ameriprise Sued By Investors For Fraud

Cary Jarrett Kievman of Westlake Village California a stockbroker formerly registered with Ameriprise Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $29,000.00 in damages supported by accusations that (1) false or misleading statements were made to the customer by Kievman in regard to the terms and […]

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Investors Sue Moloney Securities For Investment Fraud

John Rothrock McKinstry Jr. of St. Louis Missouri a stockbroker formerly registered with Moloney Securities Co. Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $300,000.00 in damages supported by allegations that (1) fiduciary obligations to the customer were violated (2) false or misleading statements had been made […]

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Wells Fargo Sued By Investors For Bad Fixed Income Advice

Michael Jay Sharenow of Florham Park New Jersey a stockbroker formerly registered with Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim which was settled for $150,000.00 in damages founded on allegations that Sharenow placed the customer in bad municipal debt investments including municipal bonds. Financial Industry Regulatory Authority (FINRA) […]

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FINRA Bars Wunderlich Stockbroker In Investigation

July 22, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Benjamin Glasser Aibel of New York New York a stockbroker formerly employed by Wunderlich Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Aibel failed to cooperate with a request from FINRA for his information. Case No. 2016052510801 (Mar. 15, 2018). According […]

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Investors Blame Ameriprise Financial For Bad Investment Advice

Sof New York New York a stockbroker formerly registered with Ameriprise Financial Services Inc. is referenced in a customer initiated investment related written complaint on January 2, 2018 where the customer sought $97,140.00 in damages based upon allegations that the customer was placed into unsuitable annuity products between 2012 and 2016. Financial Industry Regulatory Authority […]

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Wells Fargo Fires Stockbroker For Unauthorized Trading

Marco Fragnito of Laguna Hills California a stockbroker formerly employed by Wells Fargo Advisors Financial Network LLC has been discharged by the firm on February 2, 2018 founded on allegations that Fragnito executed trades in the accounts of Wells Fargo customers on a discretionary basis when this type of trading was not authorized by the […]

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American Capital Sued By Investors For Negligence

Timothy Vincent Longo of Hauppauge New York a stockbroker currently registered with American Capital Partners LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $43,000.00 in damages founded on allegations that (1) Longo made unsuitable stock trades in the customer’s account (2) Longo breached his contractual obligations (3) […]

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Investors Sue RBC For Bad Municipal Bond Advice

Lisa Jacqueline Lowi (also known as Lisa Jacqueline Vineberg) of West Palm Beach Florida a stockbroker formerly registered with RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim which was settled for $25,000.00 in damages based upon allegations that (1) the customer was placed into inappropriate and speculative municipal debt […]

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Aegis Capital Sued By Investors For Unauthorized Trading

Jonathan Edward Rago of Melville New York a stockbroker formerly employed by Aegis Capital Corp. is the subject of a customer initiated investment related arbitration claim which was resolved for $74,787.96 in damages supported by allegations that (1) investment recommendations made to the customer were not suitable and (2) unauthorized trades were executed in the […]

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Investors Sue Wells Fargo Advisors For Bad Investment Advice

Matthew Christopher Maczko of Oak Brook Illinois a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim in which the customer requested damages estimated to exceed $500,000.00 in damages founded on accusations that Maczko gave the customer bad investment recommendations concerning the securities held in the […]

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Hilltop Stockbroker Barred In Investigation

Richard Earl Cagle of Corpus Christi Texas a stockbroker formerly employed by Hilltop Securities Independent Network Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Cagle hindered a FINRA investigation concerning (1) Cagle possibly making bad investment recommendations to customers of Hilltop Securities […]

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Investors Sue Ameriprise For Sale of Unsuitable Securities

William David Utanski of Fort Lauderdale Florida a stockbroker formerly employed by Ameriprise Financial Services Inc. is referenced in a customer initiated investment related complaint which was settled on August 7, 2017 to resolve accusations that the customer was inappropriately placed into speculative over-the-counter equities by Utanski during the time he was associated with Ameriprise […]

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FINRA Sanctions Wedbush Stockbroker For Unauthorized Trading

William Mark Heiden of Newport Beach California a stockbroker formerly registered with Wedbush Securities Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Order Accepting Offer of Settlement containing findings that Heiden executed unauthorized trades in accounts […]

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Spartan Capital Securities Sued By Investors For Fraud

Jason M. Santini of Garden City New York a stockbroker formerly employed by Spartan Capital Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $655,000.00 in damages supported by accusations that (1) Santini violated his fiduciary duties to the customer (2) Santini effected transactions in the customer’s […]

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J.P. Morgan Stockbroker Discharged For Investment Advisory Misconduct

Jacob Glick of Scottsdale Arizona a stockbroker formerly employed by J.P. Morgan Securities LLC and investment adviser representative of Advanced Practice Advisors has been discharged by the advisory on June 12, 2017 based upon allegations that Glick engaged in reckless behavior when determining the suitability of investments for customers of the advisory (2) Glick placed […]

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J.D. Nicholas Stockbroker Barred For Failure to Pay FINRA Arbitration Award

Matthew DiGregorio of Syosset New York a stockbroker formerly employed by J.D. Nicholas Associates Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations of DiGregorio’s failure to comply with paying compensatory damages to a customer after DiGregorio was found liable by a FINRA Arbitrator […]

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Investors Continued to Accuse Alexander Capital Of Misconduct

Jason Vincent Mediate of Staten Island New York a stockbroker formerly registered with Alexander Capital L.P. is the subject of a customer initiated investment related complaint on November 15, 2017 in which the customer requested $38,800.00 in damages supported by accusations that the stock and over-the-counter equities transactions effected in the customer’s account during the […]

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K.C. Ward Stockbroker Barred For Failure To Cooperate in Regulatory Investigation

Carlos Nestor Evertsz-Seda of Ronkonkoma New York a stockbroker formerly registered with K.C. Ward Financial has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that Evertsz-Seda disregarded a FINRA inquiry possibly concerning Evertsz-Seda being subject of customer initiated investment related disputes. Case No. 2016052401401 (Mar. […]

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Investors Sue Royal Alliance For Role In Ponzi Scheme

Frank John Capuano of Holyoake Massachusetts a stockbroker formerly registered with Royal Alliance Associates Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $100,000.00 in damages supported by accusations that the customer had been placed into unauthorized investments which were part of a Ponzi Scheme. Financial Industry Regulatory […]

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UBS Financial Sued By Investors For Master Limited Partnership Sales

Carlos Antonio Rodriguez of Plano Texas a stockbroker formerly registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought more than $3,600,000.00 in damages founded on allegations that (1) the customer had been placed into oil and gas master limited partnerships and mutual funds […]

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Independent Financial Group Accused Of Misconduct In Connection With The Sale of REITs

Theodore Hendrickus Franse of Fair Oaks California a stockbroker formerly employed by Independent Financial Group LLC is referenced in a customer initiated investment related written complaint which was settled on August 9, 2018 to resolve accusations of the customer being sold unsuitable real estate investment trust products while Franse was associated with Independent Financial Group […]

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Investors Sue RBC Capital Markets For Bad Fixed Income Advice

Jeffrey Alan Fladell of Florham Park New Jersey a stockbroker formerly registered with RBC Capital Markets LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $1,000,000.00 in damages supported by accusations that the Puerto Rico bond transactions effected in the customer’s investment account during the time Fladell […]

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Berthel Fisher Company Sued For BDC Misconduct

Jonathan Todd Pyne (also known as Jon Pyne) of Minneapolis Minnesota a stockbroker currently registered with Berthel Fischer Company Financial Services Inc. is the subject of a customer initiated investment related arbitration claim which settled for $9,500.00 in damages based upon accusations that between 2007 and 2015: (1) false or misleading statements had been made […]

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Garden State Securities Sued For Unauthorized Trading

Mary Ann Wise (also known as Mary Ann Bugliaro and as Mary Ann Ricker) of Hackensack New Jersey a stockbroker formerly registered with Garden State Securities Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $20,000.00 in damages founded on allegations that (1) unauthorized options and equities trades were […]

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Investors Blame RBC Capital For False Statements

July 02, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Terry Parker Rider of Houston Texas a stockbroker formerly employed by RBC Capital Markets is the subject of a customer initiated investment related written complaint which was resolved for $160,000.00 on February 14, 2018 founded on accusations that false or misleading statements had been made to the customer about the sustainability of the customer’s investment. […]

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Investors Blame UBS For Inappropriate Structured Product Investment Advice

Margaret Mary Lech-Loubet of Beverly Hills California a stockbroker formerly employed by UBS Financial Services Inc. is referenced in a customer initiated investment related written complaint which was resolved for $20,000.00 on May 22, 2018 based upon accusations that the risks and illiquidity of the customer’s structured products holdings were not disclosed to the customer […]

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Investors Bring Arbitration Claim For Bad Investment Advice

Edward Barnett Woll (also known as Ed Woll) of Atlanta Georgia a stockbroker and chief compliance officer formerly registered with J.P. Turner Company LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought $200,000.00 in damages based upon accusations that between January of 2013 and March 2016: (1) misleading […]

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Investors Sues UBS Financial Services For Stockbroker Theft

Michael Roy Blueweiss of Melville New York a stockbroker formerly registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $600,000.00 in damages based upon accusations that between 2014 and 2017: (1) the customer’s funds had been stolen or otherwise misappropriated by Blueweiss (2) […]

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Investors Accuse Worden Capital Management Of Churning

Michael Anthony Valdini of Garden City New York a stockbroker currently registered with Worden Capital Management LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $2,115,095.00 in damages supported by accusations that (1) unauthorized transactions were effected in the customer’s account (2) transactions executed in the customer’s […]

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LPL Financial Pays Investors In Promissory Note Scheme

Michael Scott Lincoln of San Diego California a stockbroker formerly employed by LPL Financial LLC is referenced in a customer initiated investment related arbitration claim which was settled for $275,000.00 in damages founded on allegations that (1) trades placed in the customer’s investment account were unsuitable for the customer (2) the customer’s investment affairs were […]

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Western International Accused Of Misconduct In Connection With Sale Of Alternative Investments

Clement Lancelot Chichester (also known as Clement Ignatius Chichester) of Westlake Village California a stockbroker formerly registered with Western International Securities Inc is referenced in a customer initiated investment related arbitration claim which was settled for $100,000.00 in damages founded on accusations that (1) misrepresentations and omissions were made to the customer concerning the terms […]

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Customer Claims Cause Raymond James Financial To Fire Stockbroker

Matthew Jordan Werthe (also known as Matt Werthe) of Murrieta California a stockbroker formerly registered with Raymond James Financial Services Inc. has been discharged on May 9, 2019 supported by accusations that Werthe violated the policies or procedures of the securities broker dealer by engaging in suspicious and unauthorized communications with customers of Raymond James […]

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Cetera Stockbroker Barred In Investigation

George Craig Merhoff Jr. of Klamath Falls Oregon a stockbroker formerly employed by Cetera Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Merhoff failed to cooperate with a FINRA investigation into accusations of (1) Merhoff disseminating consolidated reports to customers and […]

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Aegis Capital Sued By Investors For Churning

Shadi Taysir Barakat of New York New York a stockbroker formerly registered with Aegis Capital Corp. is the subject of a customer initiated investment related arbitration claim which had been settled for $150,000.00 in damages founded on accusations that between June 1, 2013 and June 1, 2016: (1) investment recommendations made to the customer by […]

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Investors Sue Meyers Associates For Churning

Matthew Angelo Siliato of New York New York a stockbroker formerly registered with Meyers Associates LP (a firm later known as Windsor Street Capital) is the subject of a customer initiated investment related arbitration claim which was settled for $14,999.00 in damages based upon accusations that while Siliato was employed by Meyers Associates LP, bad […]

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Investors Sue Wells Fargo For Unauthorized Trading

Robert Thomas Tuffy of East Brunswick New Jersey a stockbroker formerly registered with Wells Fargo Advisors is the subject of a customer initiated investment related arbitration claim which was resolved for $27,500.00 in damages based upon allegations that (1) Tuffy effected unauthorized trades in the customer’s brokerage account (2) Tuffy disregarded the customer’s objectives for […]

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FINRA Bars Benjamin Jerold Stockbroker For Obstruction

Rand Alan Heckler of Glen Cove New York a stockbroker formerly registered with Benjamin Jerold Brokerage I LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Heckler failed to cooperate with a FINRA investigation into allegations of (1) Heckler misappropriating funds […]

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Ameriprise Sued By Investors For Excessive Trading

William Gregory Barker of Tallahassee Florida a stockbroker formerly registered with Ameriprise Financial Services is the subject of a customer initiated investment related written complaint which had been resolved for $46,000.00 on May 23, 2019 supported by accusations that: (1) unit investment trust and equity transactions executed in the customer’s account were inappropriate for the […]

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Girard Securities Sued By Investors For Fraud

Matthew Jon Lum of Santa Barbara California a stockbroker formerly registered with Girard Securities Inc. is the subject of a customer initiated investment related civil action in the Superior Court of California in which the customer requested $310,000.00 in damages supported by accusations that (1) the customer’s brokerage account was administered negligently (2) fiduciary obligations […]

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Raymond James Pays Investors For Stockbroker Theft

Claus Christoph Foerster of Greenville South Carolina a stockbroker formerly registered with Raymond James Associates Inc. is referenced in a customer initiated investment related written complaint which was settled for $27,500.00 on May 18, 2017 supported by accusations that (1) the customer’s signature had been forged on documentation to effect investment transactions and (2) the […]

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Western International Sued By Investors For Misrepresentation

Brittney Jade Sias (also known as Rosalie P. Sias) of Westlake Village California a stockbroker formerly registered with Western International Securities Inc. is referenced in a customer initiated investment related arbitration claim which was settled for $100,000.00 in damages supported by accusations that (1) false or misleading statements and omissions had been made by Sias […]

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HD Vest Stockbroker Sanctioned For Unsuitable Investment Advice

Michael Allen Kamperman of Waco Texas a stockbroker formerly employed by HD Vest Investment Services has been fined $20,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Kamperman poorly advised customers of HD Vest Investment Services in regard to energy sector […]

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Investors Sue Oppenheimer For Securities Fraud

David Albert Tufts Jr. of New York New York a stockbroker formerly employed by Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $1,170,500.00 in damages supported by allegations that between June 1, 2013 and October 1, 2016, Tufts was responsible for (1) breaching contractual […]

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Investors Sue Leigh Baldwin For Bad Investment Advice

Mark Andrew Stanczyk of Cazenovia New York a stockbroker formerly employed by Leigh Baldwin Co. LLC is referenced in a customer initiated investment related arbitration claim in which the customer requested $266,000.00 in damages based upon accusations that between 2010 and 2016, the customer received bad investment advice from Stanczyk concerning the common or preferred […]

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Investors Sue Morgan Stanley Over Sale Of Unsuitable Investments

Steven Rocco Colli of Morristown New Jersey a stockbroker currently registered with Morgan Stanley is referenced in a customer initiated investment related arbitration claim which was settled for $230,000.00 in damages based in part upon accusations that the customer was placed into options and equities that failed to be suitable for the customer while Colli […]

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Securities America Sued By Investors For Fraud

Giustino DeStefano (also known as Justin DeStefano) of Williamsville New York a stockbroker formerly registered with Securities America Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $1,000,000.00 in damages supported by allegations of (1) violation of FINRA Rules and federal securities laws (2) overconcentration of the customer’s […]

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Terminated LPL Stockbroker Accused of Stockbroker Theft

James “Jim” Booth of LPL Financial and Booth Financial in Norwalk Connecticut has been named in a customer initiated, investment related claims filed before the Financial Industry Regulatory Authority that Booth stole or misappropriated funds from his customers. According to FINRA Public Disclosure, Booth appears to have been terminated by LPL on June 26, 2019. […]

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Investors Sue Wunderlich Securities For Misrepresentation

Michael James Hebner of Flint Michigan a stockbroker formerly employed by Wunderlich Securities Inc. is referenced in a customer initiated investment related arbitration claim which was settled for $15,000.00 in damages founded on allegations that (1) Wunderlich Securities failed to supervise Hebner’s trading in the customer’s account (2) misrepresentations had been made to the customer […]

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International Assets Advisory Stockbroker Terminated For Cause

Thomas Edmund Connors of Toms River New Jersey a stockbroker formerly employed by International Assets Advisory LLC has been discharged by the firm on November 6, 2017 supported by accusations that Connors spoke with customers of the firm during the time that he was suspended by FINRA for engaging in outside business activities. Specifically, Financial […]

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NYLife Sued By Investors For Misrepresentation

Amr Mostafa Amboulmagd of Horsham Pennsylvania a stockbroker formerly employed by NYLife Securities LLC is referenced in a customer initiated investment related written complaint which was settled for $15,834.58 in damages on May 30, 2017 founded on accusations that Amboulmagd made misrepresentations to the customer with respect to the fees and guarantees on a variable […]

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Investors Sue SagePoint Financial For Breach Of Fiduciary Duty

Dean Thomas Nicholson of Summerfield Florida a stockbroker formerly registered with SagePoint Financial Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $30,000.00 in damages founded on allegations that (1) SagePoint Financial failed to supervise the transactions placed in the customer’s account (2) the customer’s investment related contract had […]

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Royal Alliance Sued By Investors For Stockbroker’s Sale Of Unregistered Securities

Darrin Barton Farrow of Rocky River Ohio a stockbroker formerly employed by Royal Alliance Associates Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $250,000.00 in damages supported by allegations that the customer was sold unregistered securities during the time Farrow was associated with Royal Alliance Associates […]

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Investors Accuse NEXT Financial Of Unsuitable REIT Recommendations

Charles Chester Kulch of Nashua New Hampshire a stockbroker currently employed by Next Financial Group Inc. is the subject of a customer initiated investment related written complaint on August 11, 2017 in which the customer requested $150,000.00 in damages based upon allegations that the customer was inappropriately advised by Kulch in regard to real estate […]

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Woodstock Financial Sued By Investors For Fraud

John Michael Tinnelly of Hawthorne New York a stockbroker formerly registered with Woodstock Financial Group is referenced in a customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages supported by accusations that (1) over-the-counter equities trades executed in the customer’s account were not suitable for the customer given the customer’s investment […]

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Investors Sue Oppenheimer For Securities Fraud

Matthew J. Giannone of Melville New York a stockbroker formerly registered with Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages founded on allegations that (1) misrepresentations had been made to the customer (2) the customer’s account was mishandled (3) contractual obligations to […]

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National Securities Corporation Sued For Negligence

Matthew Fleissner of New York New York a stockbroker formerly employed by National Securities Corporation is referenced in a customer initiated investment related arbitration claim in which the customer sought $300,000.00 in damages based upon allegations that (1) there was a breach of the customer’s contract (2) the account was negligently administered (3) fiduciary duties […]

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Cetera Stockbroker Barred By FINRA In Investigation

Nina Sue Jessee (also known as Nina Campbell Jessee) of Abington Virginia a stockbroker formerly employed by Cetera Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Jessee neglected to comply with FINRA during its investigation into accusations of (1) […]

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COR Clearing Stockbroker Suspended For Failure To Pay Award

Christopher Michael Cervino (Christopher Michael Smith) a stockbroker formerly registered with Prime Capital LLC and COR Clearing LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Cervino neglected to pay a customer $595,000.00 compensatory damages and $250,000.00 in punitive damages as provided in […]

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Regulator Suspends LPL Stockbroker For Wrongful Investment Strategy

Jason N. Anderson of Beaumont Texas a stockbroker formerly registered with LPL Financial LLC has been suspended for three months from being an investment adviser representative in the State of Texas according to a Disciplinary Order issued by the Texas State Securities Board Order containing findings that Andersons provided investors with investment recommendations that were […]

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Investors Sue Wells Fargo Over Bad Foreign Investments

John William Hoekman of New York New York a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim which was settled for $390,000.00 in damages founded on accusations that (1) omissions had been made to the customer during a time that the customer was steered by […]

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Aegis Sued By Investors For Unauthorized Trading

Rick John Sande of Melville New York a stockbroker currently employed by Aegis Capital Corp is the subject of a customer initiated investment related arbitration claim where the customer sought $12,334.53 in damages founded on allegations that (1) investment recommendations which had been made to the customer failed to be suitable given the customer’s objectives […]

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Investors Sue IBN Over Alternative Investments

Anthony Diaz of Scotrun Pennsylvania a stockbroker formerly registered with IBN Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought unspecified damages founded on allegations that the customer had been placed into unsuitable investments including (1) real estate security (2) promissory note (3) oil and gas […]

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Cambridge Investment Research Sued For Stockbroker Theft

Francesco Puccio of Pittsford New York a stockbroker formerly employed by Cambridge Investment Research Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $130,000.00 in damages based upon allegations that (1) Puccio placed the customer in annuities and life insurance products that were not suitable for the customer […]

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Investors Sue Legend Securities For Churning

Christopher Frederic Veale (also known as Chris Veale) of New York New York a stockbroker formerly registered with Legend Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $150,000.00 in compensatory and punitive damages supported by accusations that (1) Veale churned the customer’s investment account (2) Veale charged […]

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Investors Sue Triad Advisors For Fraud

Liam Gerard O’Keeffe of Danbury Connecticut a stockbroker formerly registered with Triad Advisors is referenced in a customer initiated investment related arbitration claim which was settled for $65,000.00 in damages supported by accusations that between 2001 and 2016: (1) bad investment recommendations were made to the customer and (2) misrepresentations had been made concerning the […]

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NYLife Accused By Investors Of Misrepresentation

John Joseph Rocco Jr. of Wakefield Massachusetts a stockbroker formerly employed by NYLife Securities LLC is the subject of a customer initiated complaint which was resolved on April 25, 2019 for $190,000.00 founded on allegations that (1) misrepresentations had been made by Rocco in regard to mutual fund and insurance products sold to the customer […]

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Investors Sue LPL Financial For Unauthorized Trading

Charles Caleb Fackrell of Yadkinville North Carolina a stockbroker formerly employed by LPL Financial LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought compensatory damages founded on accusations that (1) penny stock and equities trades were placed in the customer’s account by Fackrell even though Fackrell lacked […]

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FINRA Bars First Allied Stockbroker For Ignoring Inquiry

Gregory Alan Levine (also known as Greg Alan Levine) of Fort Lauderdale Florida a stockbroker formerly employed by First Allied Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Levine neglected to respond to an inquiry that FINRA made regarding his activities possibly […]

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Investors Sue Woodstock Financial For Securities Fraud

Barry Michael Kiront of Garden City New York a stockbroker formerly registered with Woodstock Financial Group Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $699,000.00 in damages supported by allegations that (1) the customer’s investment transactions were executed in a negligent fashion (2) the customer’s contract with […]

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Moloney Securities Sued By Investors For Fraud

Thomas G. Gresham (also known as Tom Gresham) of Overland Park Kansas a stockbroker currently registered with Moloney Securities Co. Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $495,000.00 in damages founded on accusations that (1) Moloney Securities Co. and UBS Financial Services Inc. collectively failed to […]

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Investors Sue Windsor Street For Unsuitable Investment Advice

Ibrahim Ethem Kurtulus of New York New York a stockbroker formerly registered with Windsor Street Capital LP is referenced in a customer initiated investment related arbitration claim which was settled for $14,999.99 in damages based upon allegations that Kurtulus gave the customer bad advice concerning stocks that were placed in the customer’s investment account while […]

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Stifel Nicholas Sued By Investors For Churning

Charles John Obryant III of Raleigh North Carolina a stockbroker formerly registered with Stifel Nicholas Co. Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $330,000.00 in damages founded on accusations that (1) stock trades effected in the customer’s account failed to be suitable for the customer given […]

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Investors Sue Janney Montgomery Scott For Unsuitable Investment Advice

Christopher David Sinkula of Stuart Florida a stockbroker currently employed by Janney Montgomery Scott LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $40,000.00 based upon allegations that the customer was placed in common or preferred stock by Sinkula when those investments were inappropriate for the customer given the […]

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HD Vest Stockbroker Sanctioned For Unauthorized Trading

Frank H. Kelly of New Cumberland Pennsylvania a stockbroker formerly employed by HD Vest investment Services has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Kelly’s consent to findings that (1) Kelly exercised discretion in customer accounts without obtaining written authorization and (2) […]

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Morgan Stanley Stockbroker Suspended For Failure To Pay Arbitration Award

Jeffrey Michael Johnson (also known as Jeff Michael Johnson) of Birmingham Michigan a stockbroker formerly registered with Morgan Stanley has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Johnson failed to comply with the terms of a FINRA Arbitration Award. Case No. […]

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Global Strategic Investments Sued For Misrepresentation

Alejandro Ariel Torres of Miami Florida a stockbroker formerly registered with Global Strategic Investments LLC is the subject of a customer initiated investment related arbitration claim which was settled for $32,500.00 in damages founded on accusations that misrepresentations had been made to the customer by Torres in regard to the customer’s investments and (2) investments […]

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National Securities Corp Sued By Investor For Negligence

Marc Anthony Arena of Westbury Connecticut a stockbroker formerly employed by National Securities Corporation is referenced in a customer initiated investment related arbitration claim which was settled for $400,000.00 in damages supported by allegations that (1) Arena breached his contractual obligations to the customer (2) Arena negligently transacted in the customer’s account (3) Arena breached […]

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H. Beck Inc. Sued By Investors For Bad REIT Recommendations

Richard Eric Poston (Rick Eric Poston) of Plano Texas a stockbroker formerly employed by H. Beck Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $25,000.00 in damages supported by accusations that while Poston was associated with H. Beck Inc. (1) Poston gave the customer bad investment advice […]

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FINRA Bars Global Arena Stockbroker For Failure To Pay Arbitration Award

Richard Edward Bohack of Global Arena Capital Corp has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Bohack failed to comply with his obligation to pay compensatory damages to a customer who prevailed in a claim containing allegations that Bohack gave bad advice and […]

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Morgan Stanley Sued In Promissory Note Scheme

Brian Carey Sak of Deerfield Illinois a stockbroker formerly employed by Morgan Stanley is referenced in a customer initiated investment related arbitration claim which was resolved for $30,000.00 in damages founded on accusations that Sak failed to repay the customer funds that were due according to the terms of promissory notes executed by Sak and […]

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FINRA Bars Securities America Stockbroker In Investigation

Michael Anthony Bastardi of Warwick New York a stockbroker formerly employed by Securities America Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Bastardi failed to cooperate with a FINRA investigation into allegations that Bastardi hindered a FINRA investigation concerning accusations that (1) […]

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Centaurus Financial Sued In Alternative Investments Debacle

David Bruce White of Bloomfield Hills Michigan a stockbroker formerly employed by Centaurus Financial Inc. is referenced in a customer initiated investment related arbitration claim which was settled to resolve the customer’s accusations that the customers were placed into an unsuitable oil and gas investment and had been induced to purchase the investment by way […]

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UBS Accused By Investors of Churning

William Jeffrey Carlton of Vienna Virginia a stockbroker currently employed by UBS Financial Services Inc. is referenced in a customer initiated investment related complaint which was resolved for $657,998.24 in damages on May 24, 2017 founded on allegations that between January 4, 2016 and February 23, 2017: (1) excessive exchange traded fund trades were executed […]

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SEC Sanctions Alluvion Stockbroker For Stealing

John Sherman Jumper of Memphis Tennessee a stockbroker formerly registered with Alluvion Securities LLC is the subject of a Securities and Exchange Commission (SEC) Order Instituting Administrative Proceedings Pursuant to Securities Exchange Act of 1934 Section 15(b) and Investment Advisers Act Section 203(f) in which SEC is considering barring Jumper from being a securities broker […]

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Investor Sues Buckman Reid For Private Placement Fraud

William Louis Baumner IV of Boca Raton Florida a stockbroker formerly registered with Buckman Buckman Reid Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $10,000.00 in damages based upon allegations that the customer was placed into an unsuitable private placement investment while Baumner was associated with the […]

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Morgan Stanley Sued By Investors For Churning

Jeffrey Neil Cadan of New York New York a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim that settled for $1,200,000.00 in damages supported by accusations that between 2011 and 2016, Cadan executed excessive government debt trades in the customer’s account causing the customers losses. Financial […]

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Investors Sue WFG For Bad Alternative Investments

Mark Nelson Holloway of Edmond Oklahoma a stockbroker formerly registered with WFG Investments Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $10,000.00 in damages supported by allegations that (1) Holloway made omissions and misrepresentations to the customer concerning oil and gas direct investments and mutual funds and (2) […]

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Wunderlich Stockbroker Barred In Investigation

David K. Mallett of Conway Arizona a stockbroker formerly registered with Wunderlich Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Mallett disregarded a FINRA inquiry possibly concerning Mallett being discharged from Wunderlich Securities Inc. or Mallett being subject of customer initiated […]

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FINRA Bars First Standard Stockbroker In Investigation

Gabriel Block (also known as Gabe Block) of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Block neglected to cooperate with an inquiry FINRA launched into Block’s activities. Case No. 2017052466301 […]

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Investors Capital Corp Sued By Investors For REIT Misconduct

Donnie Eugene Ingram of Winter Haven Florida a stockbroker associated with Cetera Advisors LLC and Investors Capital Corp. is referenced in a customer initiated investment related arbitration claim which was resolved for $23,000.00 in damages founded on accusations that Ingram executed unsuitable corporate debt and real estate investment trust trades in the customer’s account. Financial […]

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Investors Sue Voya Financial For Stockbroker Theft

Frederick Eugene Monroe Jr. (also known as Fred Monroe) of Albany New York a stockbroker formerly registered with Voya Financial Advisors Inc. is referenced in a customer initiated investment related civil action brought in the Supreme Court of the State of New York where the customer sought $665,000.00 in damages founded on allegations that Monroe […]

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Investors Sue Popular Securities For Unsuitable Bond Recommendations

Jose R. Juanarena Ferrari of San Juan Puerto Rico a stockbroker formerly registered with Popular Securities LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $125,000.00 in damages based upon accusations that Ferrari made inappropriate investment recommendations to the customer concerning the purchases of closed end funds […]

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Investors Sue RBC For Unsuitable Municipal Bond Recommendations

Eugene Henry Freund of New York New York a stockbroker formerly employed by RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim which was settled for $157,500.00 in damages founded on allegations that bad municipal debt investment transactions were executed in the customer’s account during the time Freund was associated […]

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TradingBlock Blamed By Investor For Losses

Joshua David Arnold (also known as Josh Arnold) of Edina Minnesota a stockbroker formerly registered with TradingBlock (also known as AOS Inc. and MoneyBlock) is referenced in a customer initiated investment related written complaint which was resolved for $64,500.00 on October 17, 2017 founded on accusations that the customer suffered unwarranted losses on common or […]

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Woodstock Financial Sued By Investors For Fraud

Michel Rene Lavelanet (also known as Michael Rene Lavelanet) of Garden City New York a stockbroker formerly employed by Woodstock Financial Group Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $699,000.00 in damages based upon accusations that (1) the customer’s account was mishandled by Lavelanet (2) contractual obligations […]

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Laidlaw Company UK Ltd. Sued By Investors For Churning

Bryan Gabriel Mazliach of Fort Lauderdale Florida a stockbroker formerly employed by Laidlaw Company UK Ltd. is referenced in a customer initiated investment related arbitration claim where the customer sought $66,680.00 in damages founded on allegations that between 2015 and 2017: (1) transactions were executed in the customer’s account that were not suitable for the […]

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Titan Securities Sued By Investors For Selling Unregistered Investments

Rodger Sprouse of Overland Park Kansas a stockbroker currently employed by Titan Securities of Addison Texas (CRD No. 131392) of is the subject of an investment related civil action in the Circuit Court of Jackson County Missouri where the investor sought $210,000.00 in damages based upon accusations that Sprouse sold the investor a structured cash […]

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America Northcoast Stockbroker Barred For Misconduct

Dominic Anthony Tropiano of Cleveland Ohio a stockbroker formerly registered with America Northcoast Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Tropiano executed unauthorized trades in customer accounts (2) Tropiano made unsuitable investment recommendations to the firm’s customers […]

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Investors Accuse Wells Fargo With The Failure To Disclose Fees

Douglas Hart Birnie of Herndon Virginia a stockbroker formerly employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on May 17, 2018 where the customer sought more than $5,000.00 in damages based upon allegations that on January 24, 2018: (1) omissions had been made to the customer […]

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UBS Stockbroker Suspended For Providing Unsuitable Investment Advice

Steven Paul Cooper of Century City California a stockbroker formerly 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 (1) Cooper made bad investment recommendations to customers of the firm and (2) Cooper […]

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J.J. Hillard W.L Lyons Sued For Bad Direct Investments

Daniel J. Kempker of Holland Michigan a stockbroker formerly registered with J.J.B. Hilliard W.L. Lyons LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $200,000.00 in damages founded on accusations that unsuitable direct participation program or limited partnership interest products had been sold to the customer which caused the […]

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Investors Sue SII Investments For Fraud In Connection With The Sale Of REITs

Jason Bradley Scarcella of Bartlesville Oklahoma a stockbroker formerly registered with SII Investments Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $35,000.00 in damages supported by accusations that Scarcella made false or misleading statements to the customer concerning the income and safety of real estate investment trust […]

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Merrill Lynch Accused Of Excessive Trading By Investors

Steven Michael Richardson of Walnut Creek California a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint on April 11, 2019 in which the customer requested unspecified damages based upon accusations that between January 1, 2018 and June 7, 2018, excessive exchange traded fund […]

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Investors Accuse Morgan Stanley Unsuitable Bond Recommendations

Bryan Jeffrey Schon of Bloomfield Hills Michigan a stockbroker currently registered with Morgan Stanley is the subject of a customer initiated investment related written complaint on December 11, 2017 in which the customer requested unspecified damages supported by accusations that between 2014 and 2016, energy bond transactions effected in the customer’s account were not suitable […]

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SEC Bars Concorde Stockbroker For Fraud

Larry Steven Werbel of Chagrin Falls Ohio a stockbroker formerly registered with Concorde Investment Services LLC has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative or otherwise associating with securities broker dealers or investment advisories according to an Order Instituting Administrative Proceedings Pursuant To Investment Advisers Act […]

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Hennion Walsh Sued By Investors For Churning

Mamode Abdullah Oozeerally (also known as Sony Oozeerally) of Parsippany New Jersey a stockbroker currently employed by Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages founded on accusations that (1) unauthorized trades were executed in the customer’s investment account (2) the […]

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Regulators Sanctions Cetera Stockbroker For Selling Away

Ken Alan Balser of Colorado Springs Colorado a stockbroker formerly employed by Cetera Advisors LLC is referenced in a Colorado Division of Securities Stipulation and Consent Order which revoked Balser’s sales representative licensure and investment adviser license based upon the Division’s findings that Balser sold investments to customers away from Cetera Advisors LLC. Case No. […]

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Investors Sue J.D. Nicholas Associates For Churning

Nicholas George Tsikitas of Melville New York of Syosset New York a stockbroker formerly employed by J.D. Nicholas Associates Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $425,928.00 in damages based upon allegations that in reference to the customer’s options and equities investments: (1) unauthorized transactions were […]

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Investors Sue Allstate Financial For Failure To Supervise

Paul Joseph Godlewski of Coatesville Pennsylvania a stockbroker formerly registered with Allstate Financial Services LLC is referenced in a customer initiated investment related arbitration claim which was settled for $28,000.00 in damages supported by allegations that (1) Godlewski solicited a customer’s private placement investment outside the firm’s auspices causing a customer losses and (2) Allstate […]

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Wells Fargo Stockbroker Sanctioned For Sale of Unsuitable Investments

Richard Alan Shotz of Daytona Beach Florida a stockbroker formerly employed by Wells Fargo Clearing Services LLC is the subject of an Order issued by the State of Maryland Securities Division revoking Shotz’s securities registration in the state based upon Shotz’s failure to respond to an Order To Show Cause relating to Shotz’s fine and […]

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Investors Accuse AXA Advisors Of Fraud

Anthony Joseph D’Angelo of Los Angeles California a stockbroker currently registered with AXA Advisors LLC is the subject of a customer initiated investment related written complaint on May 4, 2018 where the customer sought $34,186.74 in damages based upon allegations that (1) misrepresentations had been made to the customer by D’Angelo in regard to the […]

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Northwestern Mutual Stockbroker Barred In Theft Investigation

Sampson Pearson Jr. of Charlotte North Carolina a stockbroker formerly registered with Northwestern Mutual Investment Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Pearson declined to cooperate with a FINRA information request. Case No. 2017054269301 (Sept. 22, 2017). According to FINRA Public […]

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SEC Charges Comprehensive Asset Management Stockbroker With Fraud

Tamara Rae Steele of Pendleton Indiana a stockbroker formerly employed by Comprehensive Asset Management and Servicing (now known as APW Capital Inc.) and Chief Operating Officer of Steele Financial has been charged by Securities and Exchange Commission (SEC) in a Complaint alleging that Steele and Steele Financial made fraudulent investment recommendations to investors. Civil Action […]

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Salomon Whitney Sued For Breach Of Fiduciary Duty

Wayne Fitzgerald Ford of Farmingdale New York a stockbroker formerly registered with Salomon Whitney Financial is referenced in a customer initiated investment related arbitration claim which was settled for $17,000.00 in damages based upon accusations that (1) transactions effected in the customer’s account violated Louisiana Securities Act (2) fiduciary duties to the customer had been […]

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SEC Bars Stifel Nicolaus Stockbroker For Fraud

Jon Brett Schmidhammer of Dublin Ohio a stockbroker formerly employed by Stifel Nicolaus Company Inc. has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative or otherwise associating with securities broker dealers or investment advisors according to an Order Instituting Administrative Proceedings Pursuant To Securities Exchange Act of […]

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H. Beck Sued By Investor For Bad Investment Advice

James Henry Dresselaers of Bethesda Maryland a stockbroker formerly registered with H. Beck Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $255,000.00 in damages founded on allegations that (1) Dresselaers made omissions to the customer concerning the risks of exchange traded funds and (2) Dresselaers gave the customer […]

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Investors Sue Santander For Breach Of Fiduciary Duty

Hortensia Llavat Tilen of San Juan Puerto Rico a stockbroker formerly employed by Santander Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $3,000,000.00 in damages supported by accusations that (1) the firm failed to supervise Tilen’s closed-end funds and municipal debt transactions in the customer’s account […]

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Morgan Stanley Fires Stockbroker For Trading Practices

Henry Grinberg of Aventura Florida a stockbroker formerly employed by Morgan Stanley has been terminated from the firm on June 8, 2018 while under investigation of Grinberg’s suspicious activities concerning trades placed in customer accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that Grinberg is referenced in three customer initiated investment related disputes […]

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PFS Sued For Stockbroker’s Sale of Outside Investments

Perry De Leeuw of Duluth Georgia a stockbroker formerly registered with PFS Investments Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $100,000.00 in damages based upon allegations that the customer sustained losses on money provided to Leeuw for an outside business investment that Leeuw supposedly concealed from […]

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Regulator Sanctions Moors Cabot Stockbroker For Suitability

Phillip Robert Cheney Jr. of Norwell Massachusetts a stockbroker currently registered with Moors Cabot Inc. has been sanctioned by the State of Massachusetts Securities Division based upon findings that Cheney has been subject of customer disputes and has been terminated from at least one securities broker dealer founded on accusations of Cheney’s unsuitable investment transactions […]

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GF Investment Services Accused Of Selling Unregistered Securities

Christopher Grant Conness of Fort Lauderdale Florida a stockbroker formerly employed by G.F. Investment Services LLC is the subject of a customer initiated investment related written complaint on May 16, 2018 in which the customer requested $100,001.00 in damages founded on allegations that Conness and GF Investment Services LLC permitted or otherwise failed to prevent […]

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Investors Sue America Northcoast For Misconduct

Dominic Anthony Tropiano of Cleveland Ohio a stockbroker formerly registered with America Northcoast Securities is referenced in a customer initiated investment related arbitration claim in which the customer requested $250,000.00 in damages founded on allegations that (1) unauthorized transactions were effected in the customer’s account (2) leveraged exchange traded fund transactions were not suitable for […]

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TFS Stockbroker Suspended For Failure To Pay Arbitration Award

Francis Joseph Gendlek of East Brunswick New Jersey a stockbroker formerly employed by IFS Securities and TFS Securities has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Gendlek neglected to cooperate with the terms of a FINRA Arbitration Award. FINRA Arbitration No. 17-00637 (Apr. […]

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Portfolio Advisors Alliance Sued For Failure To Supervise

Kerri Lynn Wasserman of New York New York president of Portfolio Advisors Alliance LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought unspecified damages founded on allegations that between July of 2013 and August of 2017: (1) inappropriate stock and over-the-counter equities trades were effected in the customer’s […]

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Investors Accuse Morgan Stanley Of Unauthorized Trading

Rick Alan Davidson of New York New York a stockbroker formerly employed by Morgan Stanley is the subject of a customer initiated investment related complaint on May 15, 2017 where the customer sought $21,000.00 in damages supported by allegations that unauthorized corporate debt trades were executed in the customer’s account while Davidson was associated with […]

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Park Avenue Sued By Investors In Global Credit Recovery Scheme

John C. Howley (also known as Jack C. Howley) of Rumson New Jersey a stockbroker formerly registered with Park Avenue Securities LLC is referenced in a customer initiated investment related civil action brought in the Superior Court of New Jersey in which the customer requested $1,000,000.00 in damages and an unspecified amount of punitive damages […]

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Buckman Buckman Reid Admits To Failure To Supervise Rogue Brokers

Buckman Buckman Reid Inc. a securities broker dealer headquartered in Little Silver New Jersey has been censured by Financial Industry Regulatory Authority (FINRA) based upon findings that (1) Buckman Buckman Reid Inc. neglected to create and implement a supervision system and written supervisory procedures regarding the suitability of trades recommended by stockbrokers of the firm […]

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Ameriprise Stockbroker Sanctioned For Outside Activities

Corey Lee Mireau of Eden Prairie Minnesota a stockbroker formerly registered with Ameriprise Financial Services Inc. has been fined $15,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Mireau engaged in unapproved outside business activities (2) Mireau executed […]

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Investors Sue Santander Securities For Fraud

Arturo Colon of Mayaguez Puerto Rico a stockbroker formerly employed by Santander Securities LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $150,000.00 in damages founded on accusations that (1) the customer’s account transactions had been negligently administered (2) contractual obligations were breached (3) securities rules and […]

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HD Vest Stockbroker Barred In Investigation

Erin Lynn Verespy of Trumbull Connecticut a stockbroker formerly employed by HD Vest Investment Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Verespy neglected to cooperate with a FINRA investigation into accusations that funds belonging to a customer had been […]

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Aegis Capital Stockbroker Barred By FINRA For Churning

James Bradley Schwartz (also known as Jim Schwartz) of Melville New York a stockbroker formerly employed by Aegis Capital Corp has been barred 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) Schwartz executed trades in the customer’s account […]

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Edward Jones Blamed By Investors For Unauthorized Trading

Jay Thompson Humphreys of Golden Valley Minnesota a stockbroker formerly employed by Edward Jones is referenced in a customer initiated investment related complaint on May 1, 2018 in which the customer requested damages estimated to exceed $5,000.00 based upon accusations that between March of 2017 and April of 2017, unauthorized stock trades were effected in […]

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Oppenheimer Accused By Investors Of Churning

Patrick Jude Esparrago of New York New York a stockbroker formerly registered with Oppenheimer Co. Inc. is referenced in a customer initiated investment related written complaint on February 17, 2017 in which the customer sought damages estimated to exceed $5,000.00 founded on accusations that between June of 2014 and December of 2015: (1) the customer […]

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Raymond James Sued By Investors For Negligence

Ralph Wilson Smith of Valdosta Georgia a stockbroker formerly employed by Raymond James Financial Services Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $320,000.00 in damages supported by accusations that (1) the customer’s account transactions were negligently administered (2) contractual obligations were breached by the firm (3) fiduciary […]

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Investors Sue UBS Financial For Excessive Trading

Matthew Stern Buchsbaum of New York New York a stockbroker currently registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $1,000,00.00 in damages based upon accusations that between March of 2017 and March of 2019: (1) misrepresentations had been made to the customer […]

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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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FINRA Bars HD Vest Stockbroker For In Investigation

Thomas H. Laws of Silver City New Mexico a stockbroker formerly employed by HD Vest Investment Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Laws failed to provide FINRA with recorded testimony in its investigation into allegations of Laws’ involvement […]

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UBS Stockbroker Discharged For Unauthorized Trading

William David Hobby of Atlanta Georgia a stockbroker formerly employed by UBS Financial Services Inc. has been discharged by the firm on September 18, 2018 supported by accusations that (1) Hobby violated the firm’s customer complaint policy by neglecting to apprise the firm that he was subject of a customer initiated investment related complaint and […]

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Wells Fargo Accused By Investors Of Unauthorized Trading

Peter Michael Malis of Woodland Hills California a stockbroker currently registered with Wells Fargo Clearing Services is the subject of a customer initiated investment related complaint on December 7, 2017 where the customer sought damages estimated to exceed $5,000.00 based upon allegations that while Malis was associated with Wells Fargo: (1) Malis executed unsuitable closed-end […]

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Investors Capital Blamed For Real Estate Securities Misconduct

Nina Sue Jessee (also known as Nina Campbell Jessee) of Abingdon Virginia a stockbroker formerly employed by Investors Capital Corp. is the subject of a customer initiated investment related written complaint which was resolved for $20,000.00 on February 13, 2019 based upon accusations that the customer was placed in real estate securities which were inappropriate […]

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Money Concepts Accused By Investors Of Fraud

Ray Gene Reese of Farmington Missouri a stockbroker formerly registered with Money Concepts Capital Corp is the subject of a customer initiated investment related complaint on May 8, 2018 where the customer requested $75,000.00 in damages based upon allegations of misrepresentations being made to the customer concerning the liquidity of a real estate security sold […]

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FINRA Fines American Portfolio Stockbroker For Selling Away

Gary Arthur Forrest of Flint Michigan a stockbroker formerly employed by American Portfolio Financial Services has been fined $5,000.00 and suspended for ten months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Forrest engaged in unapproved private securities transactions. Letter of Acceptance Waiver and […]

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Worden Capital Sued By Investors For Fraud

Sean P. McCabe of Melville New York a stockbroker currently registered with Worden Capital Management LLC is the subject of a customer initiated investment related arbitration claim which was settled for $17,500.00 in damages based upon accusations that between May 17, 2017 and September 28, 2017: (1) inappropriate investment recommendations had been made to the […]

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Investors Sue Network 1 For Private Placement Fraud

Patrick Nicholas Teutonico of Seaford New York a stockbroker formerly registered with Network 1 Financial Securities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $145,000.00 in damages based upon accusations that (1) Teutonico effected unsuitable transactions in the customer’s account and (2) Network 1 Financial Securities […]

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Investors Sue Sigma Financial For Fraud

Richard Marvin Muhlberg of Cherry Hill New Jersey a stockbroker formerly employed by Sigma Financial Corporation and Sigma Planning Corporation is referenced in a customer initiated investment related arbitration claim where the customer was awarded $17,900.00 in compensatory damages based upon Muhlberg being found liable on the customer’s claims that (1) real estate investment trust […]

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FINRA Sanctions EDI Stockbroker For Unauthorized Trading

William Stafford Thurmond of New York New York a stockbroker formerly employed by EDI Financial Inc. has been fined $25,000.00 and suspended for fifteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Thurmond executed unauthorized trades in the customer’s account and (2) […]

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Investors Accuse Wells Fargo Of Stock Fraud

Apostolos Nicholas Papadea of Columbia South Carolina a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related written complaint which was settled for $24,000.00 on January 17, 2017 based upon allegations of (1) omissions and misrepresentations being made to the customer concerning the risks of mutual funds […]

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SEC Bars Meyers Associates Stockbroker For Fraud

Naveed Akhtar Khan (also known as Nicholas Khan) of Staten Island New York a stockbroker formerly employed by Meyers Associates L.P. has been barred by Securities Exchange Commission (SEC) from being an investment adviser or stockbroker or working at firms advising investors or selling investors securities according to an Order Instituting Administrative Proceedings Pursuant to […]

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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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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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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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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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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). On May 29, 2019, the Securities and […]

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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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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 of Addison Texas (CRD No. 131392) , 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 […]

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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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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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Arive Sued By Investors For Unsuitable Investments

Mirsad A. Muharemovic of Coram New York a stockbroker currently employed by Arive Capital Markets is referenced in a customer initiated investment related arbitration claim which was settled for $1,000,000.00 in damages founded on allegations that stock transactions executed in the customer’s account were not suitable for the customer given the customer’s objectives for investing. […]

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Investors Sue LPL Financial For REIT Misconduct

Jordan John Boyle of Saratoga Springs Utah a stockbroker formerly employed by LPL Financial LLC is the subject of a customer initiated investment related written complaint on January 23, 2019 in which the customer requested $10,000.00 in damages founded on accusations that between September 10, 2014 and January 18, 2019, the customer was provided unsuitable […]

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FINRA Catches MML Broker Selling Away Woodbridge Notes

Floyd Earl Powell of Albertville Alabama a stockbroker formerly employed by MML Investors Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Powell engaged in private securities transactions while associated with the firm. Letter of Acceptance Waiver and Consent No. […]

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H. Beck Sued By Investors REIT Misconduct

William Charles Schumann of Wheaton Illinois a stockbroker currently employed by H. Beck Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $63,000.00 in damages based upon accusations that Schumann made poor investment recommendations to the customer concerning mutual funds as well as a variable annuity and non-traded real […]

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Corinthian Partners Broker Caught Selling Promissory Notes

Thomas Anthony Gallo of New York New York a stockbroker formerly registered with Corinthian Partners LLC has been fined $10,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made misrepresentations concerning promissory notes that had been sold by […]

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Investors Sue Portfolio Advisors Alliance For Churning

John Belesis of New York New York a stockbroker formerly registered with Portfolio Advisors Alliance Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested unspecified damages supported by allegations that between July of 2013 and August of 2017: (1) the customer’s account was churned (2) transactions were negligently […]

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Cambridge Investment Research Sued By Investors For Fraud

Dale Edward Wright of Henrico Virginia a stockbroker currently registered with Cambridge Investment Research Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $112,164.00 in damages supported by accusations that (1) trades executed in the customer’s account were not suitable for the customer (2) fiduciary duties were breached […]

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Ameritas Sued By Investors For Fraud

Marc Charles Harary of New York New York a stockbroker formerly employed by Ameritas Investment Corp. is referenced in a customer initiated investment related arbitration claim which was settled to resolve accusations that (1) contractual obligations to the customer had been breached (2) fiduciary duties were breached (3) account transactions were handled negligently (4) the […]

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Lincoln Financial Advisors Sued For Misrepresentation

James Walter Barrett of Red Bank New Jersey a broker currently registered with Lincoln Financial Advisors Corporation is referenced in a customer initiated investment related arbitration claim which was resolved for $325,000.00 in damages founded on accusations that while Barrett was associated with the firm: (1) the costs and fees of investments purchased by the […]

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Investor Sues Hennion Walsh For Muncipal Bond Fraud

Marc S. Strafaci of Parsippany New Jersey a stockbroker currently registered with Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $83,000.00 in damages supported by accusations that Strafaci made unsuitable investment recommendations to the customer concerning municipal debt products that the customer ultimately purchased and […]

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United Planners Broker Caught In Promissory Note Scheme

Dexter Leroy Thomas of Dallas Texas a stockbroker formerly employed by United Planners’ Financial Services of America A Limited Partner has been discharged from employment on August 2, 2018 supported by allegations that (1) Thomas maintained a number of private investments and loans with customers of United Planners’ Financial Services of America wherein those investments […]

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Investors Accuse Capital One Of Misconduct In Connection With Bond Sales

Anthony N. Macaluso of Floral Park New York a stockbroker formerly employed by Capital One Investing LLC is referenced in a customer initiated investment related written complaint on January 4, 2017 in which the customer requested unspecified damages supported by accusations that the customer’s managed wrap account held investments that were not suitable for the […]

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Sigma Financial Sued For Failure To Conduct Due Diligence

Harvey Allan Kaluzna of Northbrook Illinois a stockbroker currently employed by Sigma Financial Corporation is the subject of a customer initiated investment related arbitration claim which was settled for $28,000.00 in damages based upon accusations that (1) misrepresentations had been made to the customer concerning unit investment trust and real estate security investments held in […]

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Lombard Terminates Broker For Unauthorized Churning Of Customer Accounts

Eric Alan Zakarin of Cranford New Jersey a stockbroker formerly registered with Lombard Securities Incorporated has been terminated by the firm on October 10, 2018 based upon allegations that (1) Zakarin generated excessive commissions from customers and (2) Zakarin executed trades in customer accounts that customers’ possibly had not authorized. This is not the first […]

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Stifel Nicolaus Sued By Investors For Securities Fraud

Michael Joseph Dorsey of Honolulu Hawaii a stockbroker currently registered with Stifel Nicolaus Company Incorporated is the subject of a customer initiated investment related arbitration claim which was settled for $50,000.00 in damages founded on accusations of (1) violation of New York Stock Exchange (NYSE) and FINRA Rules (2) violation of federal and state securities […]

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Merrill Lynch Broker Barred For Mutual Fund Fraud

Bhenoy Dembla (also known as Ben Dembla) of Chicago Illinois a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Incorporated has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Dembla violated the firm’s mutual fund policies by entering and cancelling fake […]

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Windsor Street Caught Engaging In Outside Business Activities

Imtiaz A. Khan (also known as Raana Khan) of New York the former executive vice president and managing partner at Windsor Street Capital LP has been fined $20,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Order Accepting Offer of Settlement containing findings that (1) […]

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Investors Catch MML Twisting Annuity Policies

Thomas John Leone of Farmington Connecticut a stockbroker formerly registered with MML Investors Services is referenced in a customer initiated investment related written complaint which was settled on May 10, 2018 to resolve accusations that (1) the customer’s assets had been inappropriately transferred a number of times between annuities and mutual funds and (2) the […]

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Royal Alliance Broker Fired For Appointing Himself Beneficiary

Erven Joseph Frericks Jr. of Chesterfield Missouri a stockbroker formerly employed by Royal Alliance Associates Inc. has been discharged by the firm on May 11, 2018 supported by allegations that Frericks urged a customer to designate him as the beneficiary of half of the assets held in the customer’s annuity account. Financial Industry Regulatory Authority […]

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FINRA Bars Craig Scott Capital Broker For Churning

Edward Beyn of New York New York a stockbroker formerly registered with Craig Scott Capital LLC is the subject of a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Decision which affirms FINRA’s Hearing Panel’s decision to bar Beyn because (1) Beyn effected excessive trades in customer accounts (2) Beyn churned customers’ investment portfolios and […]

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State Farm Broker Fired For Misuse Of Investor Funds

Perry Davis Stalvey of Bloomington Illinois a stockbroker formerly registered with State Farm VP Management Corp. was discharged on February 6, 2018 based upon the firm’s allegations that Stalvey misused money that was provided to him by a customer of the firm pertaining to an investment transaction. FINRA Public Disclosure reveals that Stalvey is also […]

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Ameriprise Broker Admits To Unauthorized Trading of Customer Accounts

Timothy John Knutson of Saint James Minnesota a stockbroker formerly employed by Ameriprise Financial Services 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 he effected unauthorized transactions in Ameriprise Financial Services’ customer accounts. Letter […]

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Wells Fargo Broker Barred For Lying About Prior Misconduct

February 05, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Alfredo Caba of New York New York a stockbroker formerly employed by Wells Fargo Advisors LLC has been fined $2,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Caba lied to Wells Fargo about being terminated for cause from J.P. Morgan Securities, […]

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Investors Accuse Raymond James Of Churning

Ryan Davis Wold of Edina Minnesota a stockbroker formerly employed by Raymond James Associates Inc. is the subject of a customer initiated investment related written complaint which was settled for $27,000.00 on June 28, 2018 supported by accusations that between 2014 and 2017: (1) transactions were effected in the customer’s account that were not suitable […]

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Lincoln Financial Sued For Bad Investment Advice

Imran Nazir Razvi (also known as Raz Razvi) of Frederick Maryland a stockbroker formerly employed by Lincoln Financial Securities Corporation is referenced in a customer initiated investment related arbitration claim where the customer requested damages estimated to exceed $5,000.00 based upon accusations that Razvi or another broker made unsuitable investment recommendations to the customer concerning […]

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Craig Scott Capital Broker Barred By FINRA

Craig Scott Taddonio of New York New York a stockbroker formerly employed by Craig Scott Capital LLC is referenced in a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Decision which affirms FINRA’s Hearing Panel’s barring of Taddonio in all capacities based upon (1) Taddonio failing to reasonably supervise the firm and (5) Taddonio failing […]

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Meyers Associates Supervisor Barred For Failure To Supervise

February 05, 2019  |   Posted by :   |   Boilerroom, FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Bruce Meyers of New York New York a broker formerly registered with Meyers Associates L.P. (now known as Windsor Street Capital L.P.) has been fined $20,000.00, barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity, and suspended from associating with any FINRA member for six months according to a […]

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Ameriprise Broker Suspended For Failure To Pay Customer Settlement

Frederick Michael Miller of Flint Michigan a stockbroker formerly registered with Ameriprise Financial Services has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Miller failed to report to FINRA whether he complied with a settlement agreement or an arbitration award. Case No. […]

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Ameriprise Financial Sued For Risky Investments

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

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Portfolio Advisors Alliance Sued By Investors For Churning

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

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FINRA Sanctions Ditto Trade CEO For Failure to Pay Arbitration Award

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

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Investors Sue Wells Fargo For Mutual Fund Fraud

Harold Weber of Airmont New York a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim which was settled for $50,000.00 in damages based upon allegations that between December of 2012 and June of 2016: (1) transactions were executed in the customer’s account that were not […]

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Regulator Seeks Denial Of LPL Financial Broker Registration

David Philip Antypas of Brentwood Tennessee a stockbroker formerly registered with LPL Financial LLC is the subject of a Tennessee Department of Commerce and Insurance Securities Division disciplinary action where the regulator is seeking the denial of Antypas’ securities registration based upon accusations that (1) during the time Antypas was associated with LPL Financial LLC […]

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Hennion Walsh Fined For Failure To Supervise UITs

Hennion Walsh Inc. a broker dealer headquartered in Parsippany New Jersey has been censured and fined $165,000.00 by Financial Industry Regulatory Authority (FINRA) based upon the firm’s consent to findings that (1) Hennion Walsh’s registered representatives made unsuitable investment recommendations concerning the switching of unit investment trusts in customers’ accounts and (2) Hennion Walsh neglected […]

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FINRA Bars Ameritas Broker In Theft Investigation

Kristian M. Gaudet of Cut Off Louisiana a stockbroker formerly registered with Ameritas Investment Corp has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Gaudet failed to cooperate with a FINRA investigation into allegations of Gaudet’s misuse of customer funds during the […]

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David Lerner Associates Accused Of Unauthorized Trading

Martin Kevin Walcoe of Syosset New York a stockbroker currently employed by David Lerner Associates Inc. is referenced in a customer initiated investment related written complaint on August 9, 2016 where the customer requested unspecified compensatory damages founded on accusations that unauthorized trades of equities and government-debt products had been executed in the customer’s account. […]

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Bolton Global Broker Admits to Unauthorized Trading

Bruce Anthony Zaro of Plymouth Massachusetts a stockbroker formerly employed by Bolton Global Capital has been fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Zaro signed customers’ names on account documentation without authorization to effect transactions in […]

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Oppenheimer Sued By Investors For Misconduct

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

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J.P Morgan Broker Caught Mismarking Trades Unsolicited

Joseph Leon Bess II of Edmond Oklahoma a stockbroker formerly registered with J.P. Morgan Securities 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 Bess mismarked customer’s order tickets concerning exchange traded fund purchases. Letter of Acceptance Waiver and […]

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Boenning Scattergood Pays Back Excessive Commissions

Steven Wayne Vance of Newtown Pennsylvania a stockbroker currently registered with Boenning Scattergood Inc. is referenced in a customer initiated investment related complaint involving Vance’s activities that was settled on February 27, 2018 for $9,138.67 in damages based upon accusations that (1) the customer’s portfolio was allocated in unsuitable mutual fund investments given the customer’s […]

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RP Capital Pays $5.8 Million In Alternative Investments Lawsuit

Aaron Douglas Maurer of Aliso Viejo California a stockbroker formerly registered with RP Capital LLC is referenced in a customer initiated investment related written action brought in the District Court of Portland Oregon which was resolved for $5,795,000.00 on October 18, 2017 founded on allegations that (1) Maurer made misrepresentations to the customer concerning promissory […]

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Investors Sue Southeast Investments Risky Recommendations

Robert Ian Siegel of Boca Raton Florida a stockbroker currently registered with Southeast Investments NC Inc. is referenced in a customer initiated investment related arbitration claim in which the customer was awarded $14,482.00 in damages based upon findings that while Siegel was associated with Southeast Investments NC Inc: (1) Siegel failed to inform the customer […]

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Raymond James Broker Fired For Falsifying Customer Information

January 29, 2019  |   Posted by :   |   FINRA Securities Arbitration, Forgery, Stockbroker Fraud News   |   0 Comments

Barry Walter Wold of Edina Minnesota a stockbroker formerly registered with Raymond James Associates Inc. has been discharged by the firm on January 5, 2018 founded on accusations that (1) Wold did not abide by the firm’s policy concerning the switching of customers’ commission-based account to fee-based accounts (2) Wold potentially falsified information about his […]

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BBVA Blamed By Investors For Risky Investments

James David Armer of Albuquerque New Mexico a stockbroker formerly registered with BBVA Securities Inc. is referenced in a customer initiated investment related written complaint on December 7, 2018 where the customer sought damages estimated to exceed $5,000.00 based upon allegations that while associated with BBVA Securities Inc. Armer failed to inform the customer about […]

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Investors Sue TCM Securities For Massive Bond Fraud

James Hal Heafner (also known as Jim Heafner) of Charlotte North Carolina a stockbroker formerly registered with Taylor Capital Management Inc and former investment adviser representative of Retirement Wealth Advisors is the subject of a customer initiated investment related arbitration claim in which the customer requested $268,015.79 in damages founded on allegations that (1) inappropriate […]

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Edward Jones Broker Barred In FINRA Theft Investigation

James Thomas Walters II of Macon Georgia a stockbroker formerly employed by Edward Jones has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Walters neglected to provide a response to FINRA’s information request possibly concerning his termination from Edward Jones. FINRA Case No. 2018058353701 […]

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Investor Accuses Securities America Of Risky Recommendations

Richard Barry Haynes of Columbus Georgia a stockbroker formerly registered with Securities America Inc. is referenced in a customer initiated investment related written complaint on September 13, 2018 where the customer sought $13,180.00 in damages founded on allegations that the customer’s funds had been inappropriately allocated in speculative equities investments which led the customer to […]

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H. Beck Fires Broker For Altering Customer Documents

January 29, 2019  |   Posted by :   |   FINRA Securities Arbitration, Forgery, Stockbroker Fraud News   |   0 Comments

Gary Clifford Smith of Southern Pines North Carolina a stockbroker formerly employed by H. Beck Inc. has been discharged by the firm on September 8, 2016 founded on accusations that Smith altered customer account documentation in violation of H. Beck policy. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Smith has been identified in […]

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Merrill Lynch Broker Admits To Altering Customer Documents

January 29, 2019  |   Posted by :   |   FINRA Securities Arbitration, Forgery, Stockbroker Fraud News   |   0 Comments

Adriane L Cagle of Peachtree City Georgia a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. has been fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Cagle altered customer account documents without authorization. Letter of […]

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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 Bars Rogue Broker In Investigation

Abed William Lulu of Melville New York a stockbroker formerly employed by Worden Capital Management LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Lulu failed to provide information to FINRA that had been requested of him. Case No. 2017055568801 (May 7, 2018). […]

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Wells Fargo Accused Of Preferred Stock Fraud

January 28, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Sanjay Mathur of Newport Beach California a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related complaint on August 3, 2017 in which the customer requested damages estimated to exceed $5,000.00 supported by allegations that between July 12, 2016 and August 2, 2017: (1) Mathur placed the […]

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FINRA Bars Joseph Stone Broker In Investigation

Christopher Vincent Paul of Mineola New York a stockbroker formerly registered with Joseph Stone Capital L.L.C. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Paul failed to comply with FINRA’s request for information potentially relating to Paul’s employment separations after being subject of […]

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Investors Accuse Edward Jones Of Annuity Misconduct

Robert L. Friederich of Lake Zurich Illinois a stockbroker formerly registered with Edward Jones is the subject of a customer initiated investment related complaint which was settled on September 22, 2017 for $18,827.28 in damages founded on allegations that Friederich made inappropriate investment recommendations concerning the customer’s sale of mutual funds and purchase of single […]

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Crazy Pro Se Customer Sues Brokerage Firm Over Chinese Penny Stock

January 28, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Jason Hallmark of Los Angeles California fileda customer initiated investment related arbitration claim against John David Rukenbrod of Cleveland Ohio a stockbroker formerly employed by Financial America Securities Inc. where Hallmark sought $337,500.00 in damages because Rukenbrod caused the “unauthorized and allegedly fraudent transfer of 450,000 common stock shares in AMARU, Inc.,” a Chinese Penny […]

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Santander Securities Continues To Be Sued By Investors For Fraud

Luis Currais Lopez of Dorchester Massachusetts a stockbroker formerly registered with Santander Securities LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought $65,000.00 in damages supported by accusations that (1) fiduciary duties were breached (2) the customer was falsely induced into inaction upon discovering volatility in the customer’s […]

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