Penny Stock Fraud

Archive | Penny Stock Fraud

Craig Scott Capital Broker Barred By FINRA

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

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FINRA Bars Joseph Stone Broker In Investigation

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

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FINRA Fines Morgan Stanley For Failure To Supervise

Morgan Stanley Smith Barney LLC a brokerage firm headquartered in New York New York has been censured and fined $10,000,000.00 by Financial Industry Regulatory Authority (FINRA) based in part upon the firm’s consent to findings that it failed to supervise its penny stock sales to ensure compliance with federal securities law. Letter of Acceptance Waiver […]

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SA Stone Broker Discharged For Penny Stock Sales

Thomas Milo Ayer of Oakland California a stockbroker formerly registered with SA Stone Wealth Management Inc. has been discharged on August 25, 2017 founded on accusations that Ayer solicited low-priced securities in violation of SA Stone Wealth Management’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that on May 10, 2017, a customer […]

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Investors Sue Woodstock Financial Group For Fraud

Stephen Mark Kiront of Garden City New York a stockbroker formerly employed by Woodstock Financial Group Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested damages estimated at $100,000.00 founded on accusations including (1) negligent unjust enrichment (2) breach of contract (3) suitability (4) breach of fiduciary duty […]

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TriPoint Charged With Unlawful Penny Stocks

September 27, 2018  |   Posted by :   |   Penny Stock Fraud, Stockbroker Fraud News   |   0 Comments

TriPoint Global Equities LLC a FINRA member brokerage firm headquartered in New York New York has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that it effected unlawful sales of penny stocks. Department of Enforcement v. TriPoint Global Equities LLC et. al. Disciplinary Proceeding No. 2015048172801 (Sept. 7, 2018). According to […]

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Investor Sues Oppenheimer For Fraud

Robert Bruce Cline of Rochester Michigan a stockbroker formerly employed by Oppenheimer Co. Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested more than $5,000.00 in damages based upon allegations that between 2007 and 2017: (1) fiduciary obligations to the customer were breached (2) the customer’s penny […]

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FINRA Finds Against Scottsdale Capital In Microcap Scam

Scottsdale Capital Advisors Corp a brokerage firm headquartered in Scottsdale Arizona as well as its director John Joseph Hurry and chief compliance officer Timothy Brian DiBlasi and president Darrel Michael Cruz have been subject of Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Decision affirming FINRA’s Extended Hearing Panel’s findings that (1) the firm effected […]

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Wilson Davis Broker Named In SEC Cease And Desist Order

Ian Charles Kass, of Fort Lauderdale, Florida, a stockbroker formerly registered with Wilson-Davis & Co., Inc., has been identified in a Securities and Exchange Commission (SEC) Order Instituting Administrative and Cease-And Desist Proceedings based upon allegations that Kass aided and abetted securities fraud and facilitated the sale of unregistered securities. In the Matter of Delaney […]

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Mid Atlantic Capital Corporation Named In Customer Securities Fraud Claim

Craig Lansing Hayward, of Lafayette, Colorado, a stockbroker currently registered with Mid Atlantic Capital Corporation, has been named in a customer initiated investment related arbitration claim on April 11, 2016, in which the customer requested $707,500.00 in damages based upon allegations that between 2007 and 2014, Hayward negligently handled the customer’s account, breached his fiduciary […]

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Aegis Capital Corp Named by Customers In Arbitration For Misconduct

November 02, 2016  |   Posted by :   |   Boilerroom, Penny Stock Fraud, Stockbroker Fraud News   |   0 Comments

Joshua L. Feldman, of New York, New York, a stockbroker currently registered with Aegis Capital Corporation, has been named in a pending customer initiated investment related arbitration claim in which the customer requested $300,000.00 in damages based upon allegations against Feldman of effecting unsuitable transactions in penny stocks and options between January of 2011 and […]

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SEC Issues Investor Bulletin Warning Investors of MicroCap Fraud

September 30, 2016  |   Posted by :   |   Microcap Fraud, Penny Stock Fraud   |   0 Comments

The  Office of Investor Education and Advocacy of the United States Securities & Exchange Commission has issued an Investor Bulletin regarding microcap stocks or  as penny stocks.  The Investor Bulletin provides a general information and  a list of “red flags” of fraud and other important factors generally associated with microcap stock fraud. The SEC Investor […]

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TradeSpot Markets Guilty of Penny Stock Violations

September 16, 2016  |   Posted by :   |   Failure To Supervise, Penny Stock Fraud, Stockbroker Fraud News   |   0 Comments

TradeSpot Markets, Inc., headquartered in Davie, Florida, and Mark B. Beloyan (president, chief operating officer, and chief compliance officer) were censured by Financial Industry Regulatory Authority (FINRA) Department of Enforcement per an Order Accepting Offering of Settlement containing findings that the firm and Beloyan failed to effect compliant penny stock transactions, and failured to adequately […]

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Penvest Securities Stockbroker Barred For Fraud

Terry L. Haggerty, of Kenosha, Wisconsin, president and chief executive officer of Penvest Securities, 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 securities fraud; and failed to supervise his and his firm’s trading conduct to prevent fraudulent trading […]

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Cantor Fitzgerald Fined $7.2 Million for Failure to Supervise

January 04, 2016  |   Posted by :   |   Penny Stock Fraud, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Cantor Fitzgerald & Co., headquartered in New York, New York, was censured, fined $6,000,000 and disgorged of $1,285,561 plus interest after consenting to findings that the firm had failed to adequately supervise sales of microcap securities pertaining to due diligence and identifying red flags with unlawful distributions of unregistered securities. The firm’s executive managing director […]

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Lincoln Financial Advisors Corporation Fined for Failure to Supervise

Lincoln Financial Advisors, located in Fort Wayne, Indiana, was censured and fined $90,000 by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm failed to adequately supervise the activities of a registered representative who engaged in unsuitable penny stock trading. Letter of Acceptance, Waiver and Consent, No. 2011029739902 (Dec. 8, 2015). According […]

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