Municipal Bond Fraud

Archive | Municipal Bond Fraud

Customers Sue Hennion Walsh For Bad Investments

Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that stockbrokers John Dimitrious Tsoukalas and Vincent Wallace are referenced in customer initiated investment related disputes pertaining to allegations of their unsuitable sales practices while they were registered with Hennion Walsh – a Financial Industry Regulatory (“FINRA”) brokerage firm headquartered in Parsippany, New Jersey. More Customers Sue […]

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David Lerner Associates Sued By Investor For Fraud

Scott Mass of Syosset New York a stockbroker currently employed by David Lerner Associates Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $500,000.00 in damages based upon accusations that (1) contractual obligations were breached (2) the customer’s account was handled negligently (3) fiduciary duties had been […]

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Investors Sue Santander Securities For Fraud

December 21, 2018  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Manuel Diaz Collazo of San Juan Puerto Rico a stockbroker formerly registered with Santander Securities LLC is referenced in a customer initiated investment related arbitration claim in which the customer requested $365,000.00 in damages founded on accusations that (1) fiduciary duties owed to the customer had been breached (2) the customer’s account was handled in […]

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Investors Sue Wells Fargo For Bad Investments

December 21, 2018  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Larry Demar Boggs of Cumberland Maryland a stockbroker currently employed by Wells Fargo Advisors is referenced in a customer initiated investment related arbitration claim which was resolved for $75,000.00 in damages founded on accusations that the customer’s investable assets were allocated in a municipal bond portfolio that was in no way suitable for the customer. […]

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Wells Fargo Sued For Bad Municipal Bond Investments

November 30, 2018  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Ross Allen Stein of New York New York a stockbroker currently employed by Wells Fargo Clearing Services is referenced in a customer initiated investment related arbitration claim which settled for $32,500.00 in damages based upon accusations that Stein placed municipal debt purchases in the customer’s account that were not suitable for the customer. FINRA Arbitration […]

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Investors Sue Lawson Financial For Securities Fraud

November 23, 2018  |   Posted by :   |   Churning, FINRA Securities Arbitration, Municipal Bond Fraud   |   0 Comments

Ryan John Lawson of Phoenix Arizona a stockbroker formerly registered with Lawson Financial Corporation is referenced in a customer initiated investment related arbitration claim in which he was ordered to pay the customer $7,500.00 in damages based upon Lawson having been found liable on the customer’s claims that (1) Lawson made misrepresentations and omissions to […]

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Merrill Lynch Sued By Investors For Fraud

Gregory Alan Voight of Providence Rhode Island a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $75,000.00 in damages founded on allegations that (1) misrepresentations were made to the customer concerning structured products and municipal debt products (2) investment […]

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Hennion Walsh Sued By Customers For Bad Advice

William Hennion of Parsippany New Jersey the current vice president of Hennion Walsh Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $50,000.00 in damages founded on allegations that inappropriate municipal debt investment recommendations had been made to the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01082 (Mar. […]

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Investor Sues Wells Fargo For Excessive Trading

October 22, 2018  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Michael Walter Ollmann of Waukesha Wisconsin a stockbroker formerly employed by Wells Fargo Advisors LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $125,000.00 in damages founded on accusations that Ollmann excessively traded municipal debt products in the customer’s account and caused the customer to suffer unwarranted investment […]

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Oriental Financial Sued By Investor For Breach Of Contract

October 22, 2018  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Michelle M. Vazquez (also known as Michelle M. Vazquez Valentin) of San Juan Puerto Rico a stockbroker formerly registered with Oriental Financial Services Corp. is the subject of a customer initiated investment related arbitration claim involving Vazquez’s activities in which the customer requested $398,753.25 in damages supported by allegations of (1) breach of contract (2) […]

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TD Ameritrade Accused Of Providing Investor Bad Information

September 28, 2018  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Joseph Edward Sorok of Great Neck New York a stockbroker currently registered with TD Ameritrade Inc. is referenced in a customer initiated investment related written complaint on July 9, 2018 where the customer sought $182,728.00 in damages supported by accusations that the customer was poorly advised concerning investments in municipal debt products. Financial Industry Regulatory […]

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Investor Sues Hennion Walsh For Bad Bond Recommendations

Patrick Timothy Walsh of Parsippany New Jersey a stockbroker currently registered with Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $100,000.00 in damages founded on accusations that municipal-debt transactions executed in the customer’s account were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) […]

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Investors Accuse Oppenheimer Of Excessive Trading

Patrick George Colligan of Stamford Connecticut a stockbroker currently employed by Oppenheimer Co. Inc. is referenced in a customer initiated investment related written complaint on October 24, 2017 in which the customer sought at least $5,000.00 in damages based upon accusations that between November 1, 2016 and May 31, 2017, municipal debt and corporate debt […]

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Wells Fargo Accused By Investors Of Fraud

Jeffrey Lloyd Mischel of Carlsbad California a stockbroker currently registered Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related complaint concerning Mischel’s conduct in which the customer requested $430,000.00 in damages supported by allegations that the customer was not provided information about the classes of municipal bonds available for the customer […]

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Morgan Stanley Sued by Investors For Bad Investments

Jeffrey David Wiseman of Oxnard California a stockbroker formerly employed by Morgan Stanley is referenced in a customer initiated investment related arbitration claim in which the customer requested unspecified damages founded on allegations that unsuitable municipal debt and unit investment trust transactions were executed in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. […]

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Investors Bring Bad Municipal Bond Claims Against Wellington Shields

August 17, 2018  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Edward Ian Herbst of New York New York a stockbroker currently registered with Wellington Shields Co. LLC is referenced in a customer initiated investment related written complaint on February 28, 2018 where the customer sought $88,364.96 in damages based upon allegations that the customer sustained unjustified losses on municipal-debt investments. Financial Industry Regulatory Authority (FINRA) […]

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Investors Sue Oppenheimer For Breach Of Fiduciary Duty

Jeffrey Sy Rubenstein of New York New York a stockbroker currently employed by Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages based upon accusations that between 2012 and 2017, contractual and fiduciary obligations to the customer had been breached and the […]

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Western International Sued For Breach Of Fiduciary Duty

July 31, 2018  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Henry S. Veit (also known as Hank Veit) of Manlius New York a stockbroker formerly employed by Western International Securities Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $225,000.00 in damages founded on accusations of suitability and breach of fiduciary duty pertaining to the customer’s municipal […]

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UBS Financial Sued By Investors For Misrepresentation

July 16, 2018  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Michael Monatlik of Beverly Hills California a stockbroker currently employed by UBS Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $50,000.00 in damages founded on allegations that between May of 2011 and February of 2018, Monatlik (1) recommended master limited partnership and municipal bond investments that […]

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Stifel Nicolaus Sued By Customer For Municipal Securities Fraud

June 25, 2018  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Patrick John McLaughlin of Boca Raton Florida a stockbroker currently registered with Stifel Nicolaus Company Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $970,000.00 in damages supported by accusations including (1) suitability (2) securities fraud and (3) misrepresentation relating to municipal debt transactions executed in the customer’s […]

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Customer Sues Morgan Stanley For Excessive Trading

June 25, 2018  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Susan E. Gnall of Morristown New Jersey a stockbroker registered with Morgan Stanley is referenced in a customer initiated investment related arbitration claim where the customer alleged unspecified damages supported by accusations that Gnall excessively effected municipal debt trades in the customer’s investment account between February of 2014 and April of 2016. Financial Industry Regulatory […]

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Customer Sues Morgan Stanley For Bad Investments

June 25, 2018  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Marc Frederick Strasser of Boca Raton Florida a stockbroker currently registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim in which the customer requested $50,000.00 in damages based upon accusations that unsuitable municipal debt transactions had been executed in the customer’s account between 2011 and 2016. FINRA Arbitration No. […]

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Customer Accuses FMSBonds Of Misrepresentation

June 21, 2018  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Zachary Evan Feinsilver of North Miami Beach Florida a stockbroker currently registered with FMSbonds Inc. is referenced in a customer initiated investment related written complaint on February 12, 2018 in which the customer requested $75,000.00 in damages supported by allegations that (1) the customer’s municipal debt purchases and sales were induced by Feinsilver’s misrepresentations and […]

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Hennion Walsh Sued For Municipal Securities Fraud

April 18, 2018  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Michael Alexander Lackwood of Parsippany New Jersey is a stockbroker currently registered with Hennion and Walsh Inc. who is the subject of a customer initiated investment related arbitration claim where the customer sought $230,000.00 in damages founded on allegations that municipal debt investment recommendations made to the customer were not suitable. Financial Industry Regulatory Authority […]

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David Lerner Associates Sued By Customer For Omissions

April 08, 2018  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Robert Spencer Cavanagh of Syosset New York is a stockbroker currently registered with David Lerner Associates, Inc. who is the subject of a customer initiated investment related arbitration claim where the customer sought $160,000.00 in damages supported by accusations that (1) omissions and misrepresentations had been made to the customer and (2) municipal debt transactions […]

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Citizens Securities Sued For Fraudulent Investments

March 07, 2018  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Adam Robert Freund of Novi Michigan is a stockbroker formerly associated with Citizens Securities Inc. who is the subject of a customer initiated investment related arbitration claim in which the customer requested thirty-four thousand nine hundred twenty dollars in damages based upon accusations that the customer was sold municipal debt products that were fraudulent and […]

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Customer Sues Oppenheimer For Fraud

March 07, 2018  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Michael Robert Greenfield of Boca Raton Florida is a stockbroker formerly registered with Oppenheimer and Company who is the subject of a customer initiated investment related arbitration claim where the customer requested one hundred forty-seven thousand three hundred thirty-four dollars in damages founded on allegations of (1) omissions (2) fraud (3) breach of contract (4) […]

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Merrill Lynch Accused By Customer Of Misrepresentation

March 07, 2018  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Jeremy Lansat of Palm Beach Gardens Florida is a stockbroker currently registered with Merrill Lynch who is the subject of a customer initiated investment related written complaint that settled on December 26 2016 for ten thousand dollars in damages supported by allegations that misrepresentations had been made to the customer and municipal debt trades were […]

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Hennion Walsh Sued By Customer For Suitability

February 20, 2018  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Stephen George Kowalski of Parsippany New Jersey is a stockbroker currently registered with Hennion and Walsh who is the subject of a customer initiated investment related arbitration claim in which the customer sought six hundred seventy thousand dollars in damages based upon accusations that municipal debt purchases were effected in customers’ accounts that were not […]

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Customer Sues Hennion Walsh For Suitability

Mamode (Sony) Abdullah Oozeerally is a stockbroker currently registered with Hennion and Walsh who is the subject of a customer initiated investment related arbitration claim which settled for sixty thousand dollars in damages founded on accusations that Oozeerally executed municipal debt purchases in the customer’s account which were not suitable for the customer. Financial Industry […]

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RBC Capital Accused Of Municipal Debt Suitability

January 09, 2018  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Steven Robert Karmelin of West Palm Beach, Florida, a stockbroker currently registered with RBC Capital Markets, LLC, is the subject of a customer initiated investment related written complaint brought by a customer on August 14, 2017, where the customer sought $280,000.00 in damages founded on accusations that between February 4, 2011 and August 7, 2017, […]

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David Lerner Associates Sued For Misrepresentation

December 15, 2017  |   Posted by :   |   Municipal Bond Fraud   |   0 Comments

David Alan Beckerman, of Westport, Connecticut, a stockbroker currently registered with David Lerner Associates, Inc., is the subject of a customer initiated investment related written arbitration claim, in which the customer sought $100,000.00 in damages based upon accusations that misrepresentations were made to the customer, and municipal debt product transactions were effected in the customer’s […]

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Customer Sues Morgan Stanley Muncipal Bond Fraud

December 15, 2017  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Robert Alfred Dennison, of West Palm Beach, Florida, is the subject of a customer initiated investment related arbitration claim, where the customer sought $115,000.00 in damages based upon allegations that Dennison made unsuitable investment recommendations to the customer concerning municipal debt products effected in the customer’s account between 2013 and 2015. Financial Industry Regulatory Authority […]

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Customer Sues Hennion And Walsh For Suitability

November 28, 2017  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Joseph Ismael Rodriguez of Parsippany, New Jersey, a stockbroker currently registered with Hennion & Walsh, Inc., is the subject of a customer initiated investment related arbitration claim, where customers requested $125,000.00 in damages based upon accusations that investment grade municipal bond purchases effected in the customers’ accounts were not suitable for the customers. Financial Industry […]

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Robert Lawson of Lawson Financial Barred For Securities Fraud

November 01, 2017  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud   |   0 Comments

Robert Warren Lawson, of Phoenix, Arizona, founder of Lawson Financial Corporation, has been permanently barred by the Securities and Exchange Commission (SEC) from engaging in securities sales or investment advisory services, or otherwise associating with any investment adviser or broker, according to an SEC Order containing findings that he committed securities fraud. In the Matter […]

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Ross Sinclaire Municipal Offering Fraud Results in Fine

October 05, 2017  |   Posted by :   |   Municipal Bond Fraud   |   0 Comments

Murray Sinclaire, of Cincinnati, Ohio, owner and former president and chief executive officer of Ross, Sinclaire & Associates, LLC, has been fined $35,000.00, stripped of his municipal securities principal licensure, and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member for six months in any capacity based upon his consent to findings that […]

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Kildare Capital Stockbroker Fined In Fraudulent Scheme

August 31, 2017  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

William Norris Jordan, Jr., of Philadelphia, Pennsylvania, a stockbroker formerly registered with Kildare Capital, Inc., was subject of a $7,000.00 fine and one-year suspension from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a Hearing Panel Decision containing findings that Jordan created a fraudulent trading scheme and made material […]

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Customer Sues WFG Investments For Misrepresentation

August 17, 2017  |   Posted by :   |   FINRA Securities Arbitration, Municipal Bond Fraud   |   0 Comments

James Kevin Pheney, of Castle Rock, Colorado, a stockbroker formerly registered with WFG Investments Inc., is the subject of a customer initiated investment related written complaint on December 29, 2016, in which the customer requested $240,000.00 in damages based upon allegations that Pheney made misrepresentations to the customer concerning municipal debt investments effected in the […]

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SunTrust Sued For Unauthorized Trading

August 02, 2017  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Jeffrey Lewis Eglow of Boca Raton, Florida, a stockbroker formerly registered with SunTrust Investment Services, Inc., is the subject of a customer initiated investment related written claim, which settled on June 12, 2017, for $48,758.00 in damages based upon allegations that Eglow charged the customer excessively for municipal debt trades effected in the customer’s account. […]

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Santander Securities Broker Sued For Fraud

July 29, 2017  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud   |   0 Comments

Mariondy Fernandez, of Dorchester, Massachusetts, a stockbroker formerly registered with Santander Securities LLC, has been identified in a customer initiated investment related arbitration claim on October 4, 2016, where the customer requested $4,000,000.00 in damages based upon allegations against Fernandez of breach of contract and fiduciary obligations, negligence, over-concentration of customer assets, unsuitability, and fraud […]

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Morgan Stanley Sued for Unsuitable Recommendations

July 03, 2017  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Keith Allen Bryan, of Sarasota, Florida, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on December 13, 2016, where the customer requested $30,968.61 in damages based upon allegations that Bryan, between 2012 and 2016, effected unsuitable stock and municipal bond transactions in the customer’s account […]

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RBC Capital Markets Sued For Unsuitable Recommendations

June 19, 2017  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Jeffrey Alan Fladell, of West Palm Beach, Florida, a stockbroker currently registered with RBC Capital Markets LLC, has been named in a customer initiated investment related arbitration claim on April 7, 2016, wherein the customer requested more than $5,000.00 in damages based upon allegations that Fladell made unsuitable municipal debt investment recommendations to the customer. […]

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Lawson Financial Corporation Stockbroker Sanctioned By Regulator

May 30, 2017  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

John Thomas Lynch, Junior, of Scottsdale, Arizona, a stockbroker formerly registered with Lawson Financial Corporation, was fined $22,338.00 and subject of cease and desist sanctions imposed by the Securities and Exchange Commission (SEC) pursuant to an Order Instituting Administrative Cease and Desist Proceedings Pursuant to Securities Act of 1933 Section 8A, Securities Act of 1934 […]

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Hennion & Walsh Named In Arbitration Claim

April 11, 2017  |   Posted by :   |   Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Sean Michael Logue, of Parsippany, New Jersey, a stockbroker currently registered with Hennion & Walsh, Inc., has been named in a customer initiated investment related arbitration claim on February 28, 2017, in which the customer requested $150,000.00 in damages based upon allegations that Logue effected unsuitable municipal bond transactions in the customer’s investment account. Financial […]

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Arbitration Action Against Ross, Sinclaire For Unsuitability

April 11, 2017  |   Posted by :   |   Municipal Bond Fraud, Suitability   |   0 Comments

Richard Allen Sena, of Cincinnati, Ohio, a stockbroker currently registered with Ross, Sinclaire & Associates, LLC, has been named in a customer initiated investment related arbitration claim on February 22, 2017, in which the customer requested $200,000.00 in damages based upon allegations that Sena made risky municipal debt investment recommendations to the customer which were […]

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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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Tullett Prebon Financial Services Stockbroker Barred

Glenn Nicholas Caruso of New York, NY, a Stockbroker with Tullett Prebon Financial Services LLC, was barred from association with any Financial Industry Regulatory Authority (FINRA) member firm in any and all capacities after consenting to findings that he failed to cooperate with FINRA in their investigation into Caruso’s alleged misconduct regarding municipal bond trading […]

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Global Arena Capital Broker Barred for Defrauding Customers

James Alexander Torres, a registered representative with Global Arena Capital Corp., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member after consenting to FINRA findings that Torres made material misrepresentations and omitted material facts in connection with securities transactions, excessively traded and churned customer accounts, and engaged in unsuitable recommendations of […]

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Global Arena Capital Principal Barred for Supervisory Failures

Richard Edward Bohack, a trading and operations principal with Global Arena Capital Corp., was permanently barred form associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity after consenting to findings that Bohack had failed to appropriately provide supervision of brokers at Global Arena’s sixth avenue branch firm, which included the failure […]

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Global Arena Capital Principal Barred for Supervisory Failures

Kevin Edward Hagan, a trading and operations principal with Global Arena Capital Corp, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any principal capacity and fined $15,000 in connection with findings that Hagan had failed to appropriately discharge his responsibilities as supervisor for his branch, including failures as designated […]

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Edward Jones On the Hook for $20M After Fleecing Customers in Municipal Bonds Sales

Edward Jones, a FINRA member brokerage firm and SEC investment advisor headquartered in St. Louis, MO, settled with the SEC for north of $20M after the firm was alleged by the SEC to have overcharged customers within their municipal bond business along with failing to supervise the review of municipal bonds trading in the secondary […]

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