Misappropriation of Funds

Archive | Misappropriation of Funds

Morgan Stanley Sued By Investors For Misappropriation

Sumitro Pal of Bethesda Maryland a stockbroker formerly registered with Morgan Stanley Smith Barney is the subject of a customer initiated investment related arbitration claim in which the customer sought unspecified damages supported by accusations that the customer’s funds had been misappropriated through an investment held by the customer outside the firm’s auspices between 2013 […]

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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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Commonwealth Financial Stockbroker Barred In Investigation

Benjamin Frank Bourgeois Jr. (also known as Ben Bourgeois) of Metairie Louisiana a stockbroker formerly registered with Commonwealth Financial Network has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Bourgeois failed to cooperate with a FINRA investigation into accusations that (1) Bourgeois converted funds […]

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FINRA Bars American Portfolios Stockbroker In Investigation

Mark Lewton Hopkins of Grand Blanc Michigan a stockbroker formerly registered with American Portfolios 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 Hopkins failed to comply with a FINRA investigation into allegations of (1) Hopkins taking possession of […]

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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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FINRA Bars M Holdings Stockbroker In Theft Investigation

Dean Harrison Grant of Milledgeville Georgia a stockbroker formerly registered with M Holdings Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Grant failed to cooperate with FINRA in an investigation concerning Grant’s conversion of funds from customers of the […]

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Regulators Investigate OneAmerica Stockbroker For Fraud

Zachary Scott Wagner of Gilbert Arizona a stockbroker formerly registered with OneAmerica Securities Inc. is referenced in a Arizona Securities Division investigation on March 26, 2019 founded on accusations that Wagner engaged in violations of the Arizona Investment Management Act and the Arizona Securities Act by (1) soliciting securities sales in the state without Wagner […]

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Allstate Stockbroker Investigated For Theft By FINRA

Jesse Gil III of Corpus Christi Texas a stockbroker currently registered with Allstate Financial Services LLC is the subject of a Financial Industry Regulatory Authority (FINRA) Wells Notice which indicated that FINRA Department of Enforcement should take disciplinary action against Gil supported by accusations that (1) Gil engaged in outside business activities without disclosing them […]

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FINRA Investigates J.D. Darbie Stockbroker For Conversion

Oscar Nunez of New York New York a stockbroker formerly employed by J.H. Darbie Co. Inc. is the subject of a FINRA Investigation in which FINRA determined that disciplinary action should be taken by FINRA Department of Enforcement against Nunez founded on accusations of (1) Nunez taking a loan from a customer (2) Nunez falsifying […]

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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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Cambridge Stockbroker Barred By FINRA For Conversion

Anselmo Contreras Jr. of Angleton Texas a stockbroker formerly employed by Cambridge Investment Research has been barred from associating with any Financial industry Regulatory Authority (FINRA) member in any capacity based upon findings that Contreras converted a customer’s funds while he was associated with Cambridge Investment Research. Letter of Acceptance, Waiver and Consent No. 2018057254501 […]

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JP Morgan Stockbroker Barred In Investigation Involving Theft From Dead Customer

Joshua Alexander Stephens-Anselm of Valley Stream New York a stockbroker formerly registered with J.P. Morgan Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Stephens-Anselm declined to respond to FINRA’s request for information possibly relating to Stephens-Anselm being terminated by J.P. Morgan […]

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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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Morgan Stanley Stockbroker Barred For Conversion

John William Cutshall of Frederick Maryland a stockbroker formerly registered with Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member according to an Order Accepting Offer of Settlement based on findings that (1) Cutshall converted a customer’s funds and (2) Cutshall improperly utilized a customer’s funds. Department of Enforcement […]

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FINRA Bars Mutual Of Omaha Broker In Investigation

Edward Earl Matthes (also known as Ed Matthes) of Oconomowoc Wisconsin a stockbroker formerly registered with Mutual of Omaha Investor 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 FINRA in an investigation into accusations […]

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Royal Alliance Broker Sentenced To Prison For Fraud

Kimberly Pine Kitts of Palmer Massachusetts a stockbroker formerly registered with Royal Alliance Associates Inc. was sentenced by a federal district court judge to more than seven years in prison, three years of supervised release and required to pay restitution of $3,085,939.00 according to the United States Attorney’s Office based upon Kitts pleading guilty to […]

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FINRA Bars Cherry Hill Allstate Stockbroker In Theft Investigation

Ciro Joseph Santoro of Cherry Hill New Jersey a stockbroker formerly registered with Allstate Financial Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Santoro did not provide FINRA with information that had been requested of him during its inquiry into Santoro’s […]

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FINRA Bars State Farm Stockbroker In Investigation

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

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SEC Bars Morgan Stanley Stockbroker For Fraud

Cornelius Peterson of Boston Massachusetts an investment adviser representative and stockstockbroker formerly employed by Morgan Stanley has been barred by the Securities and Exchange Commission (SEC) from associating with any investment advisor or stockbrokerage firm according to an Order Instituting Administrative Proceedings According to Investment Advisers Act of 1940 Section 203(f) and Securities Exchange Act […]

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LPL Financial Stockbroker Barred In Investigation

James Cornelius Bylenga of Portage Michigan a stockstockbroker formerly employed by LPL Financial LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that he failed to comply in FINRA’s investigation into Bylenga’s possible loan arrangements with customers of LPL Financial LLC. Letter of Acceptance […]

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Investors Accuse Cantella Stockbroker Of Unauthorized Trading

Ricardo Eduardo Harmsen of Pittsboro North Carolina a stockstockbroker currently registered with Cantella Co. Inc. is the subject of a customer initiated investment related complaint on February 11, 2019 in which the customer sought $200,000.00 in damages supported by allegations that a transfer of the customer’s assets had been effected without the customer’s permission while […]

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BBVA Stockbroker Barred In Investigation

Adrian Torres Ortega of Sun City West Arizona a stockbroker formerly employed by BBVA Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Ortega failed to cooperate with a FINRA investigation into accusations of his unauthorized transfer of a customer’s investment funds. […]

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Investors Win Against Fintegra CEO In Promissory Note Scheme

Doreen Lea Weber (also known as Doreen L. Tyler Strand and as Doreen Lea Strand) the former Chief Executive Officer of Fintegra LLC. is named in a customer initiated investment related arbitration claim in which the customer was awarded $20,000.00 in compensatory damages based upon Weber being found liable on the customer’s claims of (1) […]

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Investacorp Fires Broker For Unauthorized Access To Customer Accounts

Andrew Joseph Fairchild of Parkland Florida a stockbroker formerly employed by Investacorp Inc. has been terminated from employment on December 6, 2018 based upon the firm’s allegations that Fairchild inappropriately contacted a third party to effect withdrawals from customers’ annuities accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that a customer filed an […]

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SEC Bars Thompson Davis Broker For Fraud

Victor M. Dandridge III of Richmond Virginia a stockbroker formerly employed by Thompson Davis Co. Inc. has been barred by Securities and Exchange Commission (SEC) from being an investment advisor or broker or otherwise associating with investment advisories or brokerage firms according to an Order Instituting Administrative Proceedings Pursuant to Securities Exchange Act of 1934 […]

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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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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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CFWP Securities Broker Barred By FINRA In Investigation

Stephen Michael Hart of New York New York a stockbroker formerly employed by CFWP Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Hart failed to cooperate with FINRA’s investigation into his possible conversion of funds. Letter of Acceptance Waiver and Consent […]

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TD Broker Barred In FINRA Theft Investigation

Leonardo S. Araujo of Coral Gables Florida a stockbroker formerly employed by TD Ameritrade Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he failed to cooperate with FINRA’s request for his information. Case No. 2016049044601 (Aug. 28, 2017). According to FINRA Public […]

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

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

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Farmers Financial Broker Barred In Investigation

February 19, 2019  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Casey Wayne Walker of Lake Lotawana Missouri a broker formerly registered with Farmers Financial Solutions LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Walker chose not to cooperate with FINRA in an investigation into Walker’s possible misconduct pertaining to premium […]

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SEC Nails Newport Coast Director For Illegal Fees

February 19, 2019  |   Posted by :   |   Boilerroom, Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

John Alexander Tarpinian of New York New York a former Newport Coast Securities Managing Director has been censured and fined $25,000.00 by Securities and Exchange Commission (SEC) according to an Order Instituting Administrative Cease and Desist Proceedings Pursuant to Securities Exchange Act of 1934 Section 15(b) and Investment Advisers Act of 1940 Section 203 containing […]

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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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FINRA Bars MetLife Stockbroker For Elder Abuse

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

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Northwestern Broker Barred In Misappropriation Inquiry

James Christopher Ward of Fort Meyers Florida a stockbroker formerly registered with Northwestern Mutual Investment Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to honor FINRA’s requests for information. Case No. 2018058038201 (Sept. 4, 2018). FINRA reportedly lodged an […]

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LPL Financial Broker Barred For Elder Theft

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

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IFS Securities Sued For Breach Of Fiduciary Duty

Steven Douglas Schisler of Grass Valley California a stockbroker currently registered with IFS Securities is referenced in a civil action brought in the Nevada County Superior Court of Nevada City California where the plaintiff sought restitution based upon allegations that while Schisler was associated with IFS Securities Inc. (1) fiduciary duties owed to the plaintiff […]

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National Securities Corp Stockbroker Barred For Conversion

Kyle Patrick Harrington of San Diego California a stockbroker formerly employed by National Securities Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon a FINRA Extended Hearing Panel’s findings that (1) Harrington converted a customer’s funds (2) Harrington tried to hide that he stole funds […]

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FINRA Bars Merrill Lynch Broker For In Investigation

December 21, 2018  |   Posted by :   |   Misappropriation of Funds, Selling Away, Stockbroker Fraud News   |   0 Comments

Christopher C. Hellman of Boca Raton Florida a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Hellman failed to cooperate with FINRA personnel in an investigation into Hellman’s alleged private securities […]

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Broker Barred For Stealing Money From His Mother

Robert Lee Basile of Corona California, a stockbroker formerly employed by Waddell Reed Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he stole the funds belonging to a Waddell Reed customer, whom just happened to be his own elderly mother, […]

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Avenir Broker Fails To Pay Arbitration Award

Cesar Omar Rodriguez of Bloomingdale Illinois a branch office manager formerly employed by Avenir Financial Group has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Rodriguez failed to fully pay an arbitration award to a customer. Case No. 15-02744 (Oct. 23, 2018). FINRA Public […]

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LPL Financial Broker Barred For Taking Dead Clients’ Money

Cheryl Ann Stallings of Amarillo Texas a stockbroker formerly employed by LPL Financial LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Stallings violated the firms supervisory procedures and systems (2) Stallings impermissibly utilized the funds of an LPL Financial […]

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Broker Ban Banned For Mishandling Customer Funds

Tony Ban of New York New York a stockbroker formerly employed by Pruco Securities LLC has been discharged by the firm on May 12, 2017 supported by allegations that Ban (1) procured cash from several of the firm’s customers (2) failed to appropriately document the transactions (3) mishandled the customer’s funds and (4) inappropriately used […]

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FINRA Charges MML Broker With Hindering Investigation

Tyler James Woodward of Colorado Springs Colorado a stockbroker formerly registered with MML Investors Services LLC has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in Complaint alleging that Woodward failed to cooperate in a FINRA investigation into allegations that he converted a customer’s funds. Department of Enforcement v. Tyler J. Woodward […]

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Wells Fargo Stockbroker Barred By FINRA For Conversion

Thomas A. Davis of Hilton Head Island South Carolina a stockbroker formerly employed by Wells Fargo Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a Default Decision containing findings that Davis converted funds from customers and failed to cooperate with FINRA’s investigation into […]

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FINRA Bars Wells Fargo Broker In Theft Investigation

Wilfred Rodriguez Jr. of Boca Raton Florida 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 based upon consenting to findings that he failed to comply with FINRA’s requests in an investigation into Rodriguez’s purported conversion of customer […]

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Investor Sues CoreCap Investments For Conversion

Raymond Max Pett of Southfield Michigan a stockbroker currently registered with CoreCap Investments, Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $170,000.00 in damages based upon allegations that Pett was liable for a registered representative having stolen the customer’s assets. FINRA Arbitration No. 18-01283 (August 9, 2018). […]

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Oppenheimer Broker Suspended For Investor Loans

Patrick McGrath III of Miami Florida a stockbroker formerly employed by Oppenheimer Co. Inc. has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he borrowed funds from a customer without permission. Letter of Acceptance Waiver and Consent No. 201303723890 […]

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Moors Cabot Broker Barred By FINRA In Theft Investigation

Robert Todd Clark of Boston Massachusetts a stockbroker formerly employed by Moors Cabot 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 a FINRA investigation into allegations of Clark’s unauthorized use of customer funds. Letter of […]

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FINRA Bars Hazard Siegel Broker In Theft Investigation

Howard Raymond Utz of Mars Pennsylvania a stockbroker formerly registered with Hazard Siegel 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 FINRA’s investigation into allegations of his conversion of a customer’s funds. Letter of Acceptance […]

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Dempsey Lord Smith Terminates Broker For Customer Loans

September 28, 2018  |   Posted by :   |   Forgery, Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Michael Paul Lessard Jr. of Rock Hill South Carolina a stockbroker formerly employed by Dempsey Lord Smith LLC and representative of Palmetto Premier Advisors has been terminated from those firms between May 9, 2018 and July 3, 2018 founded on accusations that Lessard “borrowed funds” belonging to a customer in violation of the firm’s policy. This […]

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BBVA Broker Barred For Failure To Reply To Regulator

Stephen Robert Adams of Birmingham Alabama a stockbroker formerly employed by BBVA Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Adams failed to provide FINRA’s staff information that had been requested of him in an investigation into his activities. Case No. […]

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FINRA Bars Morgan Stanley Broker For Theft

Justin Travis Mair of Glens Falls New York a stockbroker formerly employed by Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted a customer’s funds. Letter of Acceptance Waiver and Consent No. 2016051547601 (June 13, 2018). According to […]

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Bonwick Capital Owner Charged By FINRA With Conversion

August 17, 2018  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Devin Lamarr Wicker of New York New York part owner of Bonwick Capital Partners LLC has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Wicker converted a customer’s funds. Department of Enforcement v. Devin Lamarr Wicker Disciplinary Proceeding No. 2016052104101 (Aug. 8, 2018). According to the Complaint, in February of […]

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UBS Broker Steals $4 Million in Ponzi Scheme

August 17, 2018  |   Posted by :   |   Misappropriation of Funds, Ponzi Scheme, Stockbroker Theft   |   0 Comments

John C. Maccoll a stockbroker registered with UBS Financial Services in Birmingham, Michigan was charged by the United States Securities & Exchange Commision with the theft of over 4 million from his clients. Maccoll purportedly solicited his brokerage customers to invest in a purported private, alternative, hedge-type fund that Maccoll claimed was highly-profitable. The purported fund […]

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Wells Fargo Fires Broker For Unauthorized Stealing

Derrick Tyrone Robinson of Washington District of Columbia a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been discharged by the firm on December 6, 2017 founded on accusations that Robinson “took possession of a customer’s savings bonds and property without ever obtaining the customer’s permission.” Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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FBL Stockbroker Barred By FINRA In Theft Case

July 16, 2018  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Michael Winston Hefner of Tulsa Oklahoma a former FBL Marketing Services LLC registered representative has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Hefner declined to cooperate with FINRA’s request for Hefner’s information. Case No. 2015047585301 (Mar. 21, 2016). FINRA Public Disclosure confirms that […]

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Investors Sue Raymond James For Securities Fraud

David Christopher Hydrick of Memphis Tennessee a stockbroker formerly registered with Raymond James Associates Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $400,000.00 in damages based upon accusations of (1) misappropriation (2) unauthorized trading in the customer’s account (3) breach of contractual duties (4) conversion of the […]

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Merrill Lynch Broker Barred In Theft Investigation

Shakela Yashica Carter of Fort Lauderdale Florida a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Default Decision containing findings that Carter obstructed a FINRA investigation into accusations that she […]

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Raymond James Sued For Stockbroker Misconduct

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

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FINRA Bars US Bancorp Stockbroker For Stealing

John Douglas Wade of Fullerton California a stockbroker formerly registered with U.S. Bancorp Investments Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted a U.S. Bancorp customers’ funds. Letter of Acceptance Waiver and Consent No. 2018058354101 (June 4, 2018). […]

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Wells Fargo Broker Barred In Theft Investigation

Marcus Duane Parker of Santa Fe New Mexico a stockbroker formerly employed by Wells Fargo Clearing Services LLC 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 FINRA in an investigation into allegations that he misappropriated funds […]

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Merrill Lynch Accused Of Unit Investment Trust Misrepresentation

Roderick Yzaguirre of Ontario California a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint on March where the customer alleged omission and misrepresentation in reference to unit investment trust transactions executed in the customer’s account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals […]

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FINRA Bars Wells Fargo Stockbroker For Obstruction

April 27, 2018  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Dallas York of Scottsdale Arizona 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 according to an Office of Hearing Officers Order Accepting Offer of Settlement containing findings that York failed to provide documents and information to FINRA […]

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Securities America Stockbroker Terminated For Misappropriation

Hector Anthony May of New City New York a stockbroker formerly registered with Securities America Inc. has been terminated on March 9, 2018 based upon allegations that May misappropriated assets belonging to one of the firm’s customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure further confirms that on March 8, 2018, May became subject of […]

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OneAmerica Stockbroker Barred By FINRA For Conversion

Domingo Gonzalez of Chesapeake Virginia is a stockbroker formerly registered with OneAmerica Securities Inc. who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted a customer’s investment funds. Letter of Acceptance Waiver and Consent No. 2017056563301 (Apr. 9, 2018). According […]

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FINRA Bars LPL Stockbroker For Conversion

Laura Ortega Shean of Medford Oregon is a stockbroker formerly registered with LPL Financial LLC who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that she converted a customer’s funds. Letter of Acceptance Waiver and Consent, No. 2017056236901 (Apr. 3, 2018). According to […]

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Morgan Stanley Broker Barred By FINRA For Conversion

April 06, 2018  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Brian Michael Weinstein of Lawrenceville New Jersey a stockbroker formerly registered with Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted funds and furnished false documentation to Morgan Stanley. Letter of Acceptance Waiver and Consent No. 20140438633-01 (Nov. […]

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Wells Fargo Fires Broker For Misappropriation

March 07, 2018  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Jeffrey Howard Palish of Paramus New Jersey is a stockbroker formerly associated with Wells Fargo Clearing Services who was fired on October 5 2017 based upon the firm’s allegations that he had inappropriately obtained funds belonging to one of Wells Fargo’s customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that a customer filed an […]

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JP Morgan Broker Fined For Obstructing Investigation

February 20, 2018  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Vanessa Beth-Anne Reeves-Farry of Oroville California is a stockbroker formerly registered with J.P. Morgan Securities LLC who has been fined five thousand dollars and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that she failed to timely cooperate with FINRA in an […]

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Edward Jones Broker Barred For Hindering Investigation

January 26, 2018  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Matthew Kerby, of Paoli, Indiana, a stockbroker formerly registered with Edward Jones, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to cooperate in a FINRA investigation into accusations that Kerby converted funds from a customer. Letter of Acceptance, Waiver and […]

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FINRA Bars Investors Capital Broker For Obstruction

Matthew Earl Peregoy, of Brick, New Jersey, a stockbroker formerly registered with Investors Capital Corp., 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 comply with FINRA in the course of an investigation into Peregoy’s alleged mishandling of funds. […]

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SEC Charges Berthel Fisher Stockbroker With Fraud

December 15, 2017  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Jay Costa Kelter, of Johns Creek, Georgia, a former stockbroker with Berthel, Fisher & Company Financial Services, Inc., has been charged in a Complaint by the Securities and Exchange Commission (SEC) alleging that he committed material omissions and misrepresentations to customers, misappropriated customers’ funds, and committed securities fraud. Securities and Exchange Commission v. Jay Costa […]

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Financial Management Strategies Broker Accused Of Fraud

December 15, 2017  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Daniel Howard Glick, of Orland Park, Illinois, an advisor associated with Financial Management Strategies and former stockbroker of Transamerica Financial Advisors, Inc., has been charged by the Securities and Exchange Commission in a Complaint alleging that Glick committed securities fraud. Securities and Exchange Commission v. Daniel H. Glick, et al., Civil Action No. 17-CV-2251 (N.D. […]

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Customer Sues LPL Financial For Stealing

December 15, 2017  |   Posted by :   |   Misappropriation of Funds   |   0 Comments

Sonya D. Camarco, of Colorado Springs, Colorado, a stockbroker formerly registered with LPL Financial LLC, is the subject of a customer initiated investment related written complaint on October 20, 2017, where the customer requested $52,234.20 in damages supported by accusations of fraud, breach of fiduciary duty, and conversion of the customer’s funds. Financial Industry Regulatory […]

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FINRA Bars Allstate Stockbroker For Obstruction

David Lee Reynolds, of Modesto, California, a stockbroker formerly employed with Allstate Financial Services, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to cooperate in an investigation into allegations that he misappropriated customer funds. Letter of Acceptance, Waiver and Consent, […]

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SEC Charges WealthCFO Manager With Misappropriation

November 21, 2017  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Terry Dean Bahgat (also known as Tarek Dean Bahgat), of Amherst, New York, the managing member of WealthCFO, WealthCFO Advisors, LLC, and WealthCFO Partners, LLC, and stockbroker formerly employed with Gradient Securities, LLC, is the subject of a Complaint brought by Securities and Exchange Commission alleging Bahgat misappropriated customer funds. Securities and Exchange Commission v. […]

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FINRA Bars Western International Stockbroker

November 21, 2017  |   Posted by :   |   Misappropriation of Funds   |   0 Comments

Brittany Jade Sias of Westlake Village, California, a stockbroker formerly registered with Western International Securities, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she obstructed a FINRA investigation into allegations of her improper handling of a customer’s funds. Letter of Acceptance, […]

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Raymond James Broker Barred For Stealing

November 20, 2017  |   Posted by :   |   Forgery, Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Paul Anthony Steffany, of Westport, Connecticut, a stockbroker formerly registered with Raymond James & Associates, Inc., is the subject of an Order Issued by the Banking Commissioner of the State of Connecticut which permanently barred him from engaging in business as an investment advisor, broker-dealer, investment adviser agent, or broker-dealer agent. In the Matter of […]

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Morgan Stanley Broker Barred For Stealing $5 Million

November 20, 2017  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Barry Franklin Connell, of Ridgewood, New Jersey, a former stockbroker registered with Morgan Stanley, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon his failure to provide information to FINRA about his “business activities.” Case No. 2016052354501. Although FINRA does not disclose why Connell was […]

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FINRA Bars Thompson Davis Stockbroker For Obstruction

November 20, 2017  |   Posted by :   |   Misappropriation of Funds   |   0 Comments

Victor M. Dandridge III of Richmond, Virginia, a stockbroker formerly registered with Thompson Davis & Co., Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations of his unauthorized diversion of customer funds. Letter of […]

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Moloney Broker Barred For Misappropriation

October 05, 2017  |   Posted by :   |   Misappropriation of Funds, Selling Away   |   0 Comments

Dale Earl Krueger, of Midland, Michigan, a stockbroker formerly registered with Moloney Securities, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he inappropriately utilized customers’ investment funds, and failed to cooperate with FINRA during an investigation into allegations of Krueger’s unauthorized […]

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Regulator Bars Blackwall Capital Markets Stockbroker

August 02, 2017  |   Posted by :   |   Misappropriation of Funds, Stockbroker Theft   |   0 Comments

Paul Eric Taboada, of New York, New York, a stockbroker formerly registered with Blackwall Capital Markets, Inc., is the subject of a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Decision which affirmed Extended Hearing Panel sanctions imposed upon Taboada consisting, in part, of a permanent bar from associating with any FINRA member for misleading […]

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Capital One Fires Stockbroker For Allegedly Stealing

July 29, 2017  |   Posted by :   |   Misappropriation of Funds, Stockbroker Theft   |   0 Comments

Arturo Diego Montenora, of Jersey City, New Jersey, a financial advisor formerly registered with Capital One Investing, LLC, was terminated from employment on May 3, 2017, based upon the firm’s allegations that an elderly customer’s monies were potentially misappropriated. The firm apparently detected an account transfer involving funds of the customer into the financial advisor’s […]

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NYLife Securities Broker Fired For Misappropriation

Lawrence James Rizer, of Columbiana, Ohio, a stockbroker formerly registered with NYLife Securities, LLC, has been terminated from employment on April 6, 2017, based upon allegations that he misappropriated funds belonging to the National Association of Insurance and Financial Advisors. Rizer purportedly took the funds for personal gain during the time he was the local […]

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MML Investor Services Action Alleges Unauthorized Trading

Karl Robert Dierman, of Columbus, Nebraska, a stockbroker formerly registered with MML Investors Services, LLC, has been named in a customer initiated investment related civil action, in which the customer requested $39,000.00 in damages based upon allegations that Dierman misappropriated the customer’s funds via forged requests for loans, and effected unauthorized transactions in the customer’s […]

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Mid Atlantic Capital Stockbroker Barred In Obstructing Investigation

David Wesley Wells, of Hanover, Pennsylvania, a stockbroker currently registered with Mid Atlantic Capital Corporation, 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 in a FINRA investigation into allegations against him of misappropriation. Letter of Acceptance, Waiver […]

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Prudential Stockbroker Barred For Obstructing Investigation

May 18, 2017  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Ann Marie Comcowich, of Scranton, Pennsylvania, a registered representative formerly associated with Prudential Investment Management Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to cooperate in a FINRA investigation into allegations of her unauthorized customer account withdrawals. […]

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More Raymond James Financial Services Customer Complaints

Scott Kevin Erickson, of Athens, Georgia, a stockbroker formerly registered with Raymond James Financial Services, Inc., has been named in a customer initiated investment related written complaint on March 24, 2017, in which the customer requested $8,000.00 in damages based upon allegations that Erickson, in his capacity as the customer’s financial advisor, effected unauthorized mutual […]

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McBarron Capital LLC CEO Officer Barred By Regulator

Robert Philip DePalo, of Greenwich, Connecticut, a former chief executive officer of McBarron Capital, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that DePalo failed to provide a response to FINRA pursuant to an information request. Letter No. 2015044211102 (Aug. 4, 2016). […]

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Morgan Stanley Stockbroker Steals $7 Million From Customers

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

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Optimal Economics Capital Partners Charged With Fraud

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

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Raymond James Broker Named In Customer Theft Arbitration

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

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NYLife Securities Stockbroker Barred For Conversion

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

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

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Voya Financial Advisors Named In Customer Arbitration Alleging Theft

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

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

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MetLife Securities Named In Customer Arbitration Alleging Stockbroker Theft

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

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Raymond James Named In Customer Theft Arbitration

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

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Waddell And Reed Stockbroker Barred For Stealing

Gregory R. Bauer, a former stockbroker with Waddell & Reed, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he committed the fraudulent conversion of customer funds. Letter of Acceptance, Waiver and Consent, No. 2016051508101 (Oct. 13, 2016). According to the AWC, […]

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Southwest Securities Stockbroker Charged With Securities Fraud

Wade Lawrence, of Dallas, Texas, a stockbroker formerly registered with Southwest Securities, Inc., was charged by The United States Securities and Exchange Commission (SEC) in a Complaint alleging that Lawrence defrauded customers and breached his fiduciary obligations by way of Lawrence’s unauthorized trades and misrepresentations. Securities and Exchange Commission v. Wade James Lawrence, Case No. […]

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Fackrell Felon LPL Financial Stockbroker Named in Customer Arbitration Claim

Charles C. Fackrell, of Yadkinville, North Carolina, a stockbroker formerly registered with LPL Financial LLC, has been named in a pending customer initiated investment related arbitration claim on June 10, 2016, in which the customer alleged that Fackrell made unauthorized and excessive trades in the customer’s account, effected transactions in the customer’s account which were […]

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Another Coastal Equities Stockbroker Caught Stealing

Michael Donnelly, of Lecanto, Florida, a stockbroker formerly associated with Coastal Equities, Inc., was named in a pending customer initiated investment related arbitration claim on July 1, 2016, in which the customer has requested $53,183.00 in damages based upon allegations against Donnelly of misappropriating the customer’s assets that the customer provided him for investment opportunities. […]

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MML Investors Services Broker Barred In FINRA Investigation

Paul E. Smyth, of Fairfield, Connecticut, a registered representative with MML Investors Services, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations of misappropriating a customer’s insurance payments. According to the AWC, MML Investors Services […]

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Melvin Securities Registered Representative Barred For Conversion

Conversion is a fancy name for stealing. James Michael Griegel, of Chicago, Illinois, a registered principal with Melvin Securities, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he converted pension funds for his own personal use. Letter of Acceptance, Waiver and Consent, […]

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Commonwealth Funds CEO Barred For Misappropriation

September 09, 2016  |   Posted by :   |   Misappropriation of Funds, Mutual Fund Fraud   |   0 Comments

Kimberly Springsteen-Abbott, of Holiday, Florida, the chairman and chief executive officer of Commonwealth entities, including Commonwealth Funds, was fined $100,000.00 and barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity in connection with a FINRA National Adjudicatory Council Decision which affirmed findings that Springsteen-Abbott misappropriated investor funds. Department of […]

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Marlton New Jersey Stockbroker Barred In Misappropriation Investigation

Leonard V. Fox, Jr., of Marlton, New Jersey, a stockbroker with FSC Securities Corporation, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member after consenting to findings that he failed to cooperate in a FINRA investigation into allegations of his misappropriation of customer funds. Letter of Acceptance, Waiver and Consent, No. […]

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JP Morgan Securities LLC Stockbroker Barred For Stealing

Jonathan J. Casiano, of Arlington, Texas, a stockbroker with J.P. Morgan Securities LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he misappropriated funds from firm customers. Letter of Acceptance, Waiver and Consent, No. 2016050795201 (Aug 18, 2016). According to the AWC, […]

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Park Avenue Securities Stockbroker Suspended For Misrepresentations

Christopher Lawrence Wacker, of Brookfield, Wisconsin, a stockbroker with Park Avenue Securities was fined $5,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he had made misrepresentations concerning trading authority in customer accounts. Letter of Acceptance, Waiver and Consent, No. […]

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Capital City Securities Stockbroker Barred For Selling Fake Investments

August 17, 2016  |   Posted by :   |   Bond Fraud, Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Lawrence Randolph Roberson, of Detroit, Michigan, a stockbroker with Capital City Securities, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he made fraudulent misrepresentations and omissions concerning the sale of a bond investment to a customer. Letter of Acceptance, Waiver […]

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Newport Coast Securities Stockbroker Charged With Stealing

David O. Braeger, of Irvine California, a stockbroker with Newport Coast Securities, Inc., was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Braeger converted customer funds and made misrepresentations concerning investments. Department of Enforcement v. David O. Braeger, No. 2015045456401 (July 20, 2016). According to the Complaint, customers […]

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LPL Financial Stockbroker Barred For Stealing

George A. Zedan of Glendale, California, a stockbroker with LPL Financial LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per an Office of Hearing Officers’ Order Accepting Offer of Settlement containing allegations that Zedan converted customer funds and failed to cooperate in a FINRA investigation into Zedan’s […]

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Fifth Third Securities Stockbroker Barred In Theft Investigation

Nathan D. Bartow, of Barberton, Ohio, a stockbroker with Fifth Third Securities, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations of mismanagement and conversion of customer funds. Letter of Acceptance, Waiver and Consent, No. […]

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Altoona Pennsylvania Stockbroker Alleged to Have Sold Fake Investments

The Guiliano Law Group, P.C.  has filed a securities arbitration claim before the Financial Industry Regulatory Authority or FINRA, against Next Financial Group, Inc., in connection with the sale of unregistered securities, by its former registered representative, Douglas P. Simanski in violation of the federal securities laws and the Pennsylvania Securities Act of 1972,  and […]

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Philadelphia Stockbroker Barred For Fraud

Edward Manges, of Philadelphia, Pennsylvania, a municipal securities broker with Kildare Capital, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in a fraudulent trading scheme, and falsified statements to FINRA in the course of an investigation into his misconduct. […]

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State Farm Insurance Representative Barred For Stealing Premiums

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

Shannon Marie Rowland, of Tempe, Arizona, a registered representative with State Farm Insurance Co., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that she converted customers’ insurance premiums. Letter of Acceptance, Waiver and Consent, No. 2014042783901 (June 8, 2016). According to the […]

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Exton Pennsylvania Wells Fargo Advisor Broker Barred For Stealing

May 26, 2016  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Christopher J. Pierce, of Exton, Pennsylvania, a representative with Wells Fargo Advisors, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that converted customer funds. According to the AWC, on March 1, 2016, Pierce had issued a Wells Fargo client a debit card, […]

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SagePoint Financial Broker Barred For Stealing

Timothy Francis Dufresne, of Bamberg, South Carolina, a stockbroker with SagePoint Financial, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he converted customer funds. Letter of Acceptance, Waiver and Consent, No. 2016049412601 (Apr. 8, 2016). According to the AWC, between October […]

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State Farm Stockbroker Barred For Stealing

May 06, 2016  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

SM Imaze Hasnain, of Roseville, California, a stockbroker with State Farm VP Management Corp, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations of his misappropriation of customer funds and acceptance of unauthorized loans from customers. […]

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Merrill Lynch Stockbroker Barred In Stealing Investigation

Scott Muirhead, of Jacksonville, Florida, a stockbroker with Merrill Lynch, Pierce, Fenner & Smith, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that Muirhead failed to comply with a FINRA investigation. Letter of Acceptance, Waiver and Consent, No. 20150447853-01 (Apr. 19, […]

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FTB Advisors Broker Barred in Conversion Investigation

Kenneth Lynn Miller, of Greeneville, Tennessee, a registered representative with FTB Advisors, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations that he converted customer funds. Letter of Acceptance, Waiver and Consent, No. 20160490980-01 (Mar. […]

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Wells Fargo Advisors Stockbroker Barred For Stealing

Jorge Gonzalez, of Closter, New Jersey, a stockbroker with Wells Fargo Advisors, LLC and branch-manager for Wells Fargo Advisor’s affiliate banking company, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he converted customer funds. Letter of Acceptance, Waiver and Consent, No. […]

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Country Capital Management Broker Barred in Investigation

April 11, 2016  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Justin L. Ferguson, of Columbus, Georgia, a stockbroker for Country Capital Management Company, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he misappropriated customer funds. Letter of Acceptance, Waiver and Consent, No. 2016048699301 (Mar. 15, 2016). According to the AWC, on January […]

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UnionBanc Investment Services Stockbroker Barred for Suspected Conversion

Alicia M. Moe, of Woodland Hills, California, a stockbroker with UnionBanc Investment Services, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that she failed to cooperate in a FINRA investigation into allegations that she may have committed the conversion of customer funds. […]

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Odeon Capital Group LLC Stockbroker Barred Amid Allegations Of Conversion

Matthew Edward O’Callaghan, of New York, New York, a stockbroker with Odeon Capital Group LLC, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he had failed to cooperate in a FINRA investigation into allegations that O’Callaghan stole customer funds. Letter of Acceptance, Waiver […]

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Allstate Financial Services Broker Barred in Misappropriation Investigation

February 23, 2016  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Shakif A. Khalil, of Ypsilanti, Michigan, a registered representative with Allstate Financial Services, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities after consenting to findings that he failed to cooperate with a FINRA investigation into allegations that Khalil misappropriated funds from customers. Letter of […]

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Southwest Securities Broker Headed to Prison

Wade James Lawrence was a stockbroker at Dallas Fort Worth area offices of Oppenheimer & Co., Inc.and Southwest Securities. Mr. Lawrence is now headed to jail for a three year prison term, and was ordered to pay restitution of $1,454,384.48, by a North Texas Federal Judge, See Case No. 3:15-cr-374- M: United States of America […]

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Fidelity Brokerage Services Fined for Failing to Safeguard Funds

Fidelity Brokerage Services, headquartered in Smithfield, Rhode Island was censured, fined $500,000, and ordered to pay customers restitution of $529,270 plus interest after consenting to findings that the firm had failed to prevent or detect conversion of more than $1,000,000 from nine Fidelity customers by a convicted felon; and failed to establish and maintain adequate […]

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Merrill Lynch Associated Person Barred for Attempted Stealing

December 09, 2015  |   Posted by :   |   Embezzlement, Failure To Supervise, Misappropriation of Funds   |   0 Comments

John Michael Leone, a non-registered associated person with Merrill Lynch, Pierce, Fenner & Smith, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member frim in any capacity after consenting to findings that he attempted to convert customer funds. Letter of Acceptance, Waiver and Consent, No. 2015045761101 (Dec. 1, 2015). According to the […]

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Securian Financial Services Broker Barred for Stealing

Mark J. Ciriaco of Omaha, Nebraska, a registered representative with Securian, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities after consenting to findings that he had converted customer funds. Letter of Acceptance, Waiver and Consent, No. 2014042879701 (Nov. 20, 2015). According to the AWC, in […]

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Arjent Broker Barred for Obstructing Regulators

November 25, 2015  |   Posted by :   |   Misappropriation of Funds, Selling Away, Stockbroker Fraud News   |   0 Comments

Following both an SEC action and a criminal action, Joshua B. Gladtke of New York, New York, a registered representative formerly with Arjent LLC, was permanently barred by Financial Industry Regulatory Authority (FINRA) after he failed to appear for on-the-record testimony in connection with an investigation into Gladtke’s private securities transactions. Letter of Acceptance, Waiver […]

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Stockbroker With Unpaid Tax Liens Sells Tax Liens to Investors

      Indiana Pennsylvania based stockbroker Bernard M. Parker has plenty of tax liens.  Since 2006, according to public disclosure records, he appears to have had at least six liens against him for failure to pay his taxes.  In fact, Bernard Parker had so many tax liens against him, he began selling tax liens […]

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Fidelity Brokerage Services Unlicensed Person Barred for Stealing Customer Funds

November 15, 2015  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Vivian Dragoo, a non-registered associated person with Fidelity, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that she had converted customer funds. Letter of Acceptance, Waiver and Consent, No. 2015045420101 (Oct. 28, 2015). Fidelity terminated Dragoo on April 21, 2015, in connection […]

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Edward Jones Stockbroker Barred for Misappropriation of Customer Funds

Anthony C. Gray of Baton Rouge, Louisiana, a stockbroker with Edward Jones, was permanently barred in all capacities from associating with any Financial Industry Regulatory Authority (FINRA) member firm in all capacities after consenting to findings that he had misappropriated nearly $138,000 from two elderly customers. Letter of Acceptance, Waiver and Consent, No. 2015047279101 (Oct. […]

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J.P. Morgan Stockbroker Barred in Theft Investigation

Salena Lynn Woods of Pearland, Texas, a stockbroker with J.P. Morgan Securities, LLC, was permanently barred from associating with any FINRA member in any capacity after consenting to findings that she failed to comply with a FINRA investigation into allegations that Woods misappropriated funds from a firm customer. Letter of Acceptance, Waiver and Consent, No. […]

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Farmers Financial Solutions Stockbroker Barred for Stealing

Lydia B. Barraza, a stockbroker with Farmers Financial Solutions, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that she converted funds from a firm customer. Letter of Acceptance, Waiver and Consent, No. 2015045880301 (Oct. 20, 2015). On June 17, 2015, her […]

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State Farm Stockbroker Barred for Obstructing Investigation

Rodney Dewayne Welch of Minden, Louisiana, a Stockbroker with State Farm, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities after consenting to findings that he failed to comply with an investigation into allegations that Welch mishandled a policyholder’s premium payments. Letter of Acceptance, Waiver and […]

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Stifel Nicolaus & Company Stockbroker Barred for Obstructing Investigation

Andrew Lyman Quinn of Reno, Nevada, a stockbroker with Stifel, Nicolaus & Company, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity in connection with a Hearing Panel Decision containing findings that Quinn failed to respond to FINRA’s requests for information in connection with an investigation […]

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LPL Financial Stockbroker Barred in Stealing Investigation

Barbara D. Fife, a Stockbroker with LPL Financial, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacities after consenting to findings that she refused to cooperate with a FINRA investigation into allegations that Fife converted funds from a customer. Letter of Acceptance, Waiver, and Consent, No. 2015046218901 (Oct. […]

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HSBC Securities Stockbroker Barred In Stealing Investigation

Emily S. Pao, a Stockbroker with HSBC Securities (USA), Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that Pao had refused to cooperate in an investigation into allegations of converting funds from a customer. Letter of Acceptance, Waiver, and Consent, No. 20150459320-01 […]

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Raymond James Stockbroker Barred for Conversion and Forgery

Paul Anthony Steffany, a Stockbroker with Raymond James, was permanently barred from association with any Financial Industry Regulatory Industry (FINRA) after consenting to findings that he converted funds from his firm’s customer, while also forging the signature on checks made payable to the estate of an individual. Letter of Acceptance, Waiver, and Consent, No. 2014041650301 […]

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Allstate Stockbroker Barred In Misappropriation Investigation

Joseph Murray Snyder III, a Stockbroker with Allstate Financial Services, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member after consenting to findings that he failed to cooperate with FINRA in their investigation into allegations of Synder’s misappropriation of customer funds. Letter of Acceptance, Waiver, and Consent, No. 2014040233501 (Oct. […]

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Riverstone Wealth Management Stockbroker Barred for Defrauding Investors

Stockbroker J. Michael Casas was barred by Financial Industry Regulatory Authority (FINRA) in any and all capacities and ordered to pay restitution in connection with an Extended Hearing Panel Decision containing findings that Casas had fraudulently sold securities issued by his company on the basis of false statements of material fact and that Casas converted […]

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Country Capital Management Stockbroker Barred Falsifying Documents

Daniel P. Glavin, a Stockbrokerwith Country Capital Management Company, was recently barred in all capacities from associating with any Financial Industry Regulatory Authority (FINRA) member after consenting to findings that Glavin had obstructed a FINRA investigation and had converted approximately $45,000 in customer funds. Letter of Acceptance, Waiver, and Consent, No. 2015044416501 (Mar. 31, 2015). […]

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Country Capital Management Corp Representative Barred for Conversion

Vicki Smith, a Stockbrokerwith Country Capital Management Corp, was permanently barred in all capacities with any Financial Industry Regulatory Authority (FINRA) firm after consenting to findings that she engaged in undisclosed outside business activities and converted funds from a customer. Letter of Acceptance, Waiver, and Consent, No. 2013037426001 (June 5, 2015). Smith is barred from […]

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Robert W Baird StockbrokerBarred for Misrepresentation Misusing Funds

Patrick Landon Garrett, a Stockbrokerwith Robert W. Baird & Co. Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he made verbal misrepresentations to a customer, misused customer funds, and falsified firm documents. Letter of Acceptance, Waiver, and Consent, No. 2014040147501 (Aug. […]

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Pruco StockbrokerBarred for Lying to Investigators about Forgeries

October 05, 2015  |   Posted by :   |   Forgery, Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Christopher Yoon, a Stockbrokerwith Pruco Securities, LLC, was permanently barred by Financial Industry Regulatory Authority (FINRA) after consenting to findings that he lied about a life insurance beneficiary to obtain a signed blank check and forged or caused to be forged customer signatures on life insurance documents and application related materials. Letter of Acceptance, Waiver, […]

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Cetera Financial Specialists Broker Barred In Misappropriation Investigation

Terri Lynn Anderson, a registered representative with Cetera Financial Specialists, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that Anderson had failed to provide information and documentation in connection with an investigation into allegations that Anderson played a part in misusing customer […]

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TD Ameritrade Broker Barred for Theft of Customer Funds

Rice Alexander Jacobs, a registered representative with TD Ameritrade, Inc., was permanently barred by Financial Industry Regulatory Authority (FINRA) for failing to provide information and documentation in connection with an investigation into allegations that Jacobs converted a local organization’s funds. Letter of Acceptance, Waiver, and Consent No. 20150439952 (Mar. 11, 2015). According to the AWC, […]

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SunTrust Investment Service Broker Barred In Stealing Investigation

Kirsten Flynn Hawkins, a registered representative with SunTrust Investment Services, Inc., was permanently barred by Financial Industry Regulatory Authority (FINRA) for failing to provide information and documentation in connection with an investigation into allegations that Hawkins stole funds from her firm’s customer. Letter of Acceptance, Waiver, and Consent No. 20149437894 (Mar. 23, 2015). According to […]

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Wells Fargo Broker Barred in Theft Investigation

Kamran Daryush Nougzust, a registered representative with Wells Fargo Advisors, was permanently bared from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after failing to provide information and documentation requested by FINRA in connection with an investigation into Nougzust’s alleged conversion of a bank’s trust funds. Letter of Acceptance, Waiver, […]

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Peoples Securities Broker Caught Stealing From People

Tricia Denise Willis, a registered representative with People’s Securities, Inc., was permanently barred from association with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that she converted funds from a customer of her firm and forged a customer’s signature without authorization. Letter of Acceptance, Waiver, and Consent No. 20130392989 […]

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Cambridge Investment Research Broker Barred for Stealing Customer Funds

Ralph W. Savoie, a registered representative with Cambridge Investment Research, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any and all capacities after consenting to findings that he failed to cooperate with a FINRA investigation into allegations that Savoie misappropriated in excess of $665,000.00 from a firm customer. […]

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MetLife Broker Barred for Stealing Customer Funds

Andre Mitchell, a registered representative with MetLife, was permanently barred from associating with any FINRA member firm in any capacity after Financial Industry Regulatory Authority’s Office of Hearing Officers found Mitchell to have converted customer funds in addition to failing to cooperate in a FINRA’s investigation. Department of Enforcement v. Mitchell, No. 2013035618602 (Sept. 28, […]

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Fifth Third Bank Broker Expelled Amid Investigation

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

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Merrill Lynch Broker Barred for Stealing

Tammy C. Peterson, a registered representative for Merrill Lynch, Pierce, Fenner & Smith, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to FINRA findings that Peterson had converted approximately $107,378 from four of her firm’s customers for her own personal benefit and use. Letter […]

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Wells Fargo Advisors Broker Barred for Stealing Customer Funds

Daniel Hillius, a registered representative with Wells Fargo Advisors, LLC, was permanently barred from association with any FINRA member firm in any capacity after consenting to Financial Industry Regulatory Authority (FINRA) findings that he misappropriated and forged another person’s check while converting funds for his own benefit. Letter of Acceptance, Waiver, and Consent No. 2014041988001 […]

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Cetera Financial Services Broker Barred for Stealing

Alex P. Anderson, a registered representative with Cetera Financial Services, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he misused at least $75,000 from one of his firm customer’s retail bank accounts for his own benefit. Letter of Acceptance, Waiver, and […]

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PNC Investments Broker Barred Amid Investigation into Stolen Funds

Philip Earl Brunson, a registered representative with PNC Investments and Wells Fargo Advisors, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he failed to cooperate with their investigation in connection with allegations that Brunson converted customer funds. Letter of Acceptance, […]

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Pruco Securities Broker Barred During Conversion Investigation

Ronald Dunn, a registered representative with Pruco Securities, LLC, was permanently barred by from associating with any Financial Industry Regulatory Authority (FINRA) registered firm after consenting to findings that he had failed to cooperate in an investigation in connection with Dunn’s alleged conversion of customer funds. Letter of Acceptance, Waiver, and Consent, No. 2014042095201 (Apr. […]

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ING Broker Charged With Lying and Stealing

Giovanni L. Acevedo, a registered representative with ING, has been charged by the Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Acevedo stole in excess of $160,000 in customer funds from three clients of the firm for Acevedo’s personal use, while also falsifying information to FINRA regulators during an investigation into Acevedo’s conversion […]

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MetLife Securities Broker Accused of Stealing

Andre Mitchell, a registered rep from MetLife Securities, Inc., was charged by the Financial Industry Regulatory Authority in a Complaint alleging that Mitchell misappropriated monies provided to him by an insurance customer. Department of Enforcement v. Andre Mitchell, No. 2013035618602 (Apr. 20, 2015). According to the Complaint, Mitchell was being investigated by FINRA after his […]

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OneAmerica Broker Barred For Converting Customer Funds

September 16, 2015  |   Posted by :   |   Embezzlement, Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Brantly Chavis, a OneAmerica registered representative, was permanently barred from associating with any Financial Industry Regulatory Authority member in any capacity after accepting and consenting to Financial Industry Regulatory Authority’s findings that Chavis had converted funds from a customer. Letter of Acceptance, Waiver, and Consent No. 2014042234401 (Sept. 2, 2015). According to the AWC, Chavis […]

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UBS Financial Services Branch Barred for Stealing

September 16, 2015  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Audrey Helmstetter, a branch service associate for UBS Financial Services, was permanently barred from association with any Financial Industry Regulatory Authority member in any capacity after consenting to findings that she converted a customer’s funds. Letter of Acceptance, Waiver, and Consent No. 2014042389701 (May 5, 2015). According to the AWC, Helmstetter was a non FINRA-registered […]

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NYLife Securities Barred For Misusing Customer Funds

William Oscar Hardy, a NYLife Securities, was permanently barred by Financial Industry Regulatory Association (FINRA) after consenting to findings that he misused customer insurance premium funds. Letter of Acceptance, Waiver, and Consent No. 2014039881901 (May 4th, 2015). According to FINRA, Hardy was employed with NYLife Securities LLC in May, 2002 through February 21, 2014. The […]

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LPL Financial Broker Barred for Obstructing Investigation

Robert Neil Tricarico, formerly a general securities representative with LPL Financial, LLC, was permanently barred from associating with any FINRA member in any capacity after failing to provide information and documentation requested by FINRA in connection with an investigation into allegations that Tricarico converted customer funds. FINRA Letter of Acceptance, Waiver, and Consent No. 2014043719001 […]

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JHS Capital Advisors broker Barred for Obstructing Investigation

Mark Douglas Weindling, a former JHS Capital Advisors, LLC registered representative, was permanently barred from associating with any FINRA member in any capacity after consenting to FINRA findings that he failed to provide information and documents pursuant to a FINRA investigation into allegations of unauthorized transactions. FINRA Acceptance, Waiver, and Consent No. 2014041259001 (Apr. 22, […]

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Chase Investment Services Corp. Broker Barred For Stealing

Richard Ohrn, a former general securities rep with Wells Fargo Advisors, LLC, was permanently barred from associating with any FINRA member capacity after consenting to FINRA findings that Ohrn had converted customer funds, forged/falsified documents, caused his firm’s records and books to be false, and guaranteed a customer against financial loss. FINRA Department of Enforcement […]

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Huntington Investment Company Broker Carnahan Barred for Obstructing Theft Investigation

Bryan Carnahan, a former general securities representative with Huntington Investment Company, was permanently barred from associating with any FINRA member in any and all capacities after consenting to FINRA findings that Carnahan had misappropriated $169,500 from his former firm’s customer. FINRA Letter of Acceptance, Waiver, and Consent No. 2015044908301 (May 1, 2015). According to the […]

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Global Strategic Investments Broker Barred for Stealing Customer Funds

Alejandro Ariel Torres, a former general securities representative with Global Strategic Advisors, was permanently barred from association with any FINRA member and ordered to pay restitution of nearly $60,000 to a former customer after consenting to FINRA findings that Torres stole funds from his customers, engaged in outside business activities, falsified firm documents regarding outside […]

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Allstate Financial Services Broker Barred for Defrauding Customers

Phillip Leonard Grasso, formerly a representative of Allstate Financial Services, was permanently barred in any and all capacities with a FINRA regulated entity after FINRA’s Office of Hearing Officers rendered a Default Decision finding that Grasso had misused and converted client funds in violation of FINRA Rules 2010 and 2150(a), engaged in securities fraud in […]

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Cambridge Investment Research Stockbroker Barred In Theft Investigation

Francesco Puccio of Pittsford, NY, a former general securities principal and registered rep with Cambridge Investment Research, was permanently barred from association with any FINRA-registered firm in all capacities after failing to cooperate with FINRA’s investigation into allegations that Puccio converted funds from a non-firm customer. FINRA Letter of Acceptance, Waiver and Consent, No. 2015046238101 […]

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J.P. Morgan Securities Representative Alleged to Have Stolen Funds

Charlotte A. Guin of Houston TX, a former general securities representative with J.P. Morgan Securities LLC, was barred from association with any FINRA-registered firm in all capacities after failing to provide information and documentation in connection with FINRA’s investigation into allegations that Guin converted the funds of a non-Firm customer. FINRA Letter of Acceptance, Waiver, […]

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Merrill Lynch Broker Barred Loan from Elderly Customer

Michael R. Highfill from Ridgeland, Misssippi, a former general securities representative and general securities sales supervisor with Merrill Lynch, Pierce, Fenner & Smith Inc., was barred from association with any FINRA-registered firm in all capacities after failing to provide information and documentation in connection with FINRA’s investigation into allegations that Highfill solicited and had accepted […]

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Raymond Dickie Adcock Barred for Misappropriation of Customer Funds

Raymond Dickie Adcock, of Cabot Arkansas, also known, at least according to FINRA Public Disclosure Records as Dick Adcock, formerly associated with Regal Securities, Inc., of Glenview Illinois, was barred last month by the Financial Industry Regulatory Authority based upon the admission that he misappropriated $10,000 in customer funds generated by a private placement offering […]

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Raymond James Stockbroker Barred For Obstructing Theft Investigation

Stealing or the conversion of customer funds is never a good idea, and in fact it is illegal. However, in response to an investigation by the Financial Industry Regulatory Authority that he did just that, Ft. Meyers based, Raymond James & Associates stockbroker Mark A. Bullivant, with the benefit of counsel, of course, decided that […]

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Morgan Stanley Fined for Supervisory Failures

Morgan Stanley Smith Barney, a FINRA member since 2009, is a publicly held company that engages in general securities business via 24,000 registered representatives working out of roughly 850 branch locations. The Firm was censured and fined $65,000 by FINRA Department of Enforcement in connection with allegations that the Firm had failed to establish and […]

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New York Securities Brokers Charged in Fraudulent Scheme

General securities representatives Timothy Stephen Dembski and Walter Francis Grenda Jr., both former employees with Mid Atlantic Capital Corporation (“MACC”) in Cheektowaga, NY, were charged by FINRA’s Department of Enforcement in a Complaint containing allegations that the individuals engaged in fraudulent misrepresentations and omissions in violation of Section 10(b) of the Securities Exchange Act of […]

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California Financial Advisor Barred for Failing to Appear in FINRA Investigation

Michael J. Talin of Seal Beach, CA, a former general registered representative with Woodbury Financial Services, was barred from association with any FINRA-registered firm in all capacities after failing to appear for an on-the-record interview in connection with FINRA’s investigation of allegations that Talin converted monies from the non-securities account of a customer. FINRA Letter […]

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Former Mossic PA Financial Planner Pled Guilty to Ponzi Scheme

Jason Muskey of Mossic, PA, a former Ameritas Investment Corp. broker, well-known Moosic business man and prior president of the National Association of Insurance and Financial Advisors-PA, pled guilty on February 17, 2015, to money laundering, identify theft, and mail fraud in the connection with the theft of over $2M from clients– many of whom […]

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Former Newbridge Securities Broker Barred by FINRA for Failure to Cooperate with FINRA Investigation

Brian M. Berger, a former Newbridge Securities Broker, was barred from association with any FINRA-registered firm in all capacities after Berger failed to cooperate with a FINRA investigation in connection with allegations that he misappropriated funds from elderly customers while registered with Wells Fargo Advisors LLC and MetLife Securities, Inc. FINRA Letter of Acceptance, Waiver […]

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Massachusetts Financial Advisor Charged with Misappropriation of Client Funds

Jeffrey B. Pierce of Waltham, MA, a former financial advisor and registered representative with MidAmerica Financial Services, was charged on June 30, 2015 by the Enforcement Section of the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth in connection with allegations that Pierce willfully engaged in fraudulent, dishonest, and unethical activities […]

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New Jersey Investment Advisor Charged with Fraud and Misappropriation of $20M in Customer Funds

Michael J. Oppenheim of Livingston, New Jersey, a former registered investment advisor representative and registered representative of J.P. Morgan Securities LLC, was charged in a criminal complaint by the United States Attorney for the Southern District of New York for one count each of wire fraud, embezzlement, securities fraud, and investment advisor fraud in connection […]

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When Mr. Wright goes Wrong Victims Helpless

For more than a decade, from at least February 1998 until June 2012, Dennis Fern Wright, a Lewistown, Pennsylvania stockbroker and insurance salesman associated with AXA Advisors, LLC., and, was entrusted with handling his customers’ retirement funds. However, at least according to the Securities & Exchange Commission, Wright lied to and stole over $1.5 million […]

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Sagepoint Broker’s Misappropriation Results in Permanent Bar

After he misappropriated $734,000 from various customers, Joel W. Carlson, a former broker with Sagepoint Financial Inc., was permanently barred from the business by the Financial Industry Regulatory Authority (FINRA). Carlson is also facing a civil lawsuit alleging $50,000 in damages stemming from fraudulent indexed annuity sales and misappropriation. The litigation is pending 2nd Judicial […]

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Broker Who Misappropriated Funds Barred From Financial Industry

April 13, 2012  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Timothy David Cochrane has been permanently barred from the financial industry as part of a settlement of an action against him for misappropriating $600,000 in customer funds. On March 30, the Financial Industry Regulatory Authority (FINRA) accepted a Letter of Acceptance, Waiver and Consent (AWC) submitted by Cochrane to resolve alleged rule violations. Cochrane neither admitted […]

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Former MetLife Securities Broker Barred For Misappropriation

April 05, 2012  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Roland Craig Matatics, a former broker with MetLife Securities Inc. in Keene, N.H., has been permanently barred from the financial industry for misappropriating $10,000 from a customer suffering from dementia. Roland Craig Matatics Submits an AWC The money was later returned and Matatics submitted a Letter of Acceptance, Waiver and Consent (AWC) to settle an action […]

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Former Edward Jones Administrator Permanently Barred for Misappropriation of Funds

March 12, 2012  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

A former Edward Jones administrator has been permanently barred from the financial industry after misappropriating a total of $63,000 from 21 customers. According to a default decision issued by the Financial Industry Regulatory Authority (FINRA) on Feb. 15, Carolyn Avia Harmon misappropriated $63,000 in customer funds between November 2006 and September 2009. She also failed […]

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SEC Charges Investment Adviser With Misappropriating Funds to Pay for Previous SEC Settlement

February 17, 2012  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

In a striking example of the ineffectiveness that can plague securities regulation, investment adviser Robert Pinkas allegedly misappropriated $800,000 from a client to pay for disgorgement and costs resulting from a previous case brought against him by the Securities and Exchange Commission (SEC). On Feb. 15, the SEC issued an order to start administrative and […]

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