Promissory Notes

Archive | Promissory Notes

FINRA Bars Paulson Stockbroker In Investigation

September 13, 2019  |   Posted by :   |   Promissory Notes, Selling Away, Stockbroker Fraud News   |   0 Comments

Kevin Richard Graetz of Portland Oregon a stockbroker formerly registered with Paulson Investment Company has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Graetz neglected to respond to FINRA’s information request potentially relating to his disclosures of customer initiated investment related disputes or his […]

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Madison Avenue Stockbroker Barred In Selling Away Investigation

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

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Investors Sue Sterne Agee For Securities Fraud

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

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Cetera Advisors Stockbroker Sanctioned For Selling Away

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

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National Planning Sued For Broker Selling Away Dope Stocks

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

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National Planning Corporation Sued Over Bogus Promissory Notes

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

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Investors Sue Northland Securities For Fraud

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

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Fortune Financial Sued For Broker Selling Away Fake Investments

Jonathan Douglas Freeze (also known as Jon Freeze) of Canonsburg Pennsylvania a stockbroker formerly registered with Fortune Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $330,000.00 in damages based upon accusations that Freeze solicited and obtained the customer’s funds for purposes of a direct investment in […]

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Wells Fargo Stockbroker Sanctioned For Customer Loans

Linda Sue Zara of Boca Raton Florida a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Zara borrowed a customer’s funds in violation of the firm’s policies. Letter […]

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Merrill Lynch Pays Back Unapproved Loan to Customer

Michael Ross Highfill of Ridgeland Mississippi a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related complaint which was resolved on June 22, 2016 for $215,000.00 in damages supported by accusations that (1) Highfill inappropriately steered the customer towards loaning Highfill funds in connection with an […]

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FINRA Bars Ameritas Stockbroker In Selling Away Investigation

June 11, 2019  |   Posted by :   |   Promissory Notes, Selling Away, Stockbroker Fraud News   |   0 Comments

James F. Anderson of Dakota Dunes South Dakota a stockbroker formerly employed by Ameritas Investment Corp. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Anderson’s consent to findings that he failed to cooperate with an investigation launched by FINRA in regard to allegations of Anderson […]

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Morgan Stanley Sued In Promissory Note Scheme

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

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FINRA Bars Foresters Stockbroker For Selling Away

June 03, 2019  |   Posted by :   |   Promissory Notes, Selling Away, Stockbroker Fraud News   |   0 Comments

Michael Lester Carter of Henderson Nevada a stockbroker formerly employed by Foresters Equity Services Inc. has been fined $5,000.00 and suspended from associating with any Financial industry Regulatory Authority (FINRA) member in any capacity based upon accusations that Carter sold away from the securities broker dealer by selling promissory notes to an investor. Letter of […]

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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 Bars Farmers Broker For Selling Woodbridge Ponzi Scheme

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

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FINRA Suspends Hornor Townsend Broker Caught Selling Away

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

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FINRA Catches MML Broker Selling Away Woodbridge Notes

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

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Corinthian Partners Broker Caught Selling Promissory Notes

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

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United Planners Broker Caught In Promissory Note Scheme

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

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DesPain Broker Barred In Woodbridge Promissory Note Investigation

Jay R. Weiser of Collinsville Illinois a stockbroker formerly employed by DesPain Financial Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Weiser failed to cooperate with FINRA’s investigation into accusations of hm selling promissory notes and securities interests away from […]

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NYLife Broker Fired For For Outside Business Activities

James Wayne Brink of Stockton California a prior broker of NYLife Securities LLC has been discharged by the firm on December 29, 2016 founded on accusations that (1) Brink engaged in outside business activities without having procured the firm’s permission and (2) Brink violated the firm’s policy by engaging in activities when Brink took possession […]

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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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Kobak Accused Of Selling Away Promissory Notes

Douglas Louis Kobak of Conshohocken Pennsylvania a stockbroker formerly registered with Coastal Equities Inc. is the subject of a customer initiated investment related written complaint which was resolved after the customer sought $200,000.00 in damages based upon allegations of in connection with a promissory note investment sold away in a private securities transaction. Financial Industry […]

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First American Stockbroker Barred In Investigation

July 31, 2018  |   Posted by :   |   Promissory Notes, Stockbroker Fraud News   |   0 Comments

Steven F. Coffey of Orrville Ohio a stockbroker formerly employed by First American Securities 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 testify in a FINRA investigation concerning his promissory notes sales. Letter of Acceptance Waiver and […]

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KCD Financial Stockbroker Suspended For Selling Away

July 31, 2018  |   Posted by :   |   Promissory Notes, Selling Away, Stockbroker Fraud News   |   0 Comments

Christopher Matthew Parr of Overland Park Kansas a stockbroker formerly employed by KCD Financial Inc. has been suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he sold away from his firm and entered into unapproved customer loan agreements. Letter of […]

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FINRA Investigates CP Capital Stockbroker For Fraud

May 31, 2018  |   Posted by :   |   Promissory Notes, Stockbroker Fraud News   |   0 Comments

Alexis Lertora of Miami Florida a stockbroker formerly employed by CP Capital Securities is the subject of a Financial Industry Regulatory Authority (FINRA) Investigation in which FINRA recommended that enforcement action be brought against Lertora for defrauding investors and making unsuitable recommendations to customers pertaining to promissory notes investments. Wells Notice Examination No. 20160514937 (Apr. […]

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Securities Service Network Broker Fined For Selling Away

May 31, 2018  |   Posted by :   |   Promissory Notes, Selling Away, Stockbroker Fraud News   |   0 Comments

Peter David Holler of Bristol Tennessee a stockbroker formerly employed by Securities Service Network has been fined $10,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he sold away from the firm. Letter of Acceptance Waiver and Consent No. […]

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FINRA Investigates Capital Securities Stockbroker For Fraud

May 17, 2018  |   Posted by :   |   Promissory Notes, Selling Away, Stockbroker Fraud News   |   0 Comments

Harold Lee Connell of Miami Florida a stockbroker formerly employed by CP Capital Securities is the subject of a Financial Industry Regulatory Authority (FINRA) Wells Notice where FINRA recommended that a disciplinary action be pursued against Connell alleging that he committed fraud and effected promissory notes and private placement transactions that were not suitable for […]

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FINRA Suspends Osprey Officer For Failure To Supervise

April 08, 2018  |   Posted by :   |   Promissory Notes, Selling Away, Stockbroker Fraud News   |   0 Comments

Richard Hunt Crockett of New York New York is a former chief compliance officer of Osprey Partners LLC who has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to supervise Osprey stockbrokers’ private securities transactions. Letter of […]

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WRP Investments Sued For Promissory Notes Suitability

March 16, 2018  |   Posted by :   |   Promissory Notes, Stockbroker Fraud News   |   0 Comments

David Michael Pintaric of Youngstown Ohio is a stockbroker formerly employed by WRP Investments Inc. who is referenced in a customer initiated investment related arbitration claim on September 18, 2017 where the customer requested $828,583.00 in damages founded on accusations that inappropriate promissory notes transactions had been effected in the customer’s account. Financial Industry Regulatory […]

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Dawson James Securities Accused Of Misleading Customer

March 07, 2018  |   Posted by :   |   Promissory Notes, Stockbroker Fraud News   |   0 Comments

Robert Douglas Armstrong of Boca Raton is a stockbroker currently associated with Dawson James Securities who is the subject of a customer initiated investment related written complaint on January 16 2017 where the customer sought one hundred thousand dollars in damages founded on allegations that he made misleading and false assurances in regard to the […]

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Customer Accuses Dawson James Of Misrepresentation

February 20, 2018  |   Posted by :   |   Promissory Notes, Stockbroker Fraud News   |   0 Comments

Robert Douglas Armstrong of Boca Raton Florida is a stockbroker currently registered with Dawson James Securities Inc. who is the subject of a customer initiated investment related written complaint filed on January 16 2017 in which the customer requested one hundred thousand dollars in damages based upon allegations that misleading assurances and false representations were […]

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Paulson Investment Company Fires Broker For Complaint

December 15, 2017  |   Posted by :   |   Promissory Notes, Selling Away   |   0 Comments

Ahmed Ghassan Gheith, of New York, New York, a stockbroker formerly registered with Paulson Investment company, LLC, was fired on August 11, 2017, based upon allegations that he violated Paulson’s written supervisory procedures, failed to be forthcoming in reference to the firm’s compliance questionnaires, violated FINRA Rule 3280, and became subject of a customer initiated […]

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SA Stone Wealth Management Fires Broker For Selling Away

December 15, 2017  |   Posted by :   |   Promissory Notes, Selling Away, Stockbroker Fraud News   |   0 Comments

Christopher Todd Wendel, of Celina, Ohio, a stockbroker registered with SA Stone Wealth Management Inc., has been fired on September 5, 2017, supported by accusations that he violated the policies of the firm through selling away; he effected promissory notes transactions outside the firm’s auspices. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Wendel […]

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Paulson Investment Company Fired In Fraud Investigation

May 25, 2017  |   Posted by :   |   Promissory Notes, Stockbroker Fraud News   |   0 Comments

Minish Joe Hede, of New York, New York, a stockbroker formerly registered with Paulson Investment Company LLC, was terminated from employment on April 28, 2017, based upon allegations that he was uncooperative in the firm’s investigation of a customer initiated investment related arbitration claim, in which the customer’s claim was based upon allegations of fraud. […]

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Customer Files Arbitration Claim Against RP Capital LLC

April 11, 2017  |   Posted by :   |   Promissory Notes, Stockbroker Fraud News   |   0 Comments

Aaron Douglas Maurer, of Aliso Viejo, California, a stockbroker formerly registered with RP Capital LLC, has been named in a customer initiated investment related civil action on August 31, 2016, in which the customers requested $12,319,652.00 in damages based upon allegations that Maurer made misrepresentations to the customer concerning the suitability, risk factors and terms […]

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Paulson Investment Sued for Fraud

March 31, 2017  |   Posted by :   |   Promissory Notes, Stockbroker Fraud News   |   0 Comments

Kevin Richard Graetz, of New York, New York, a stockbroker currently registered with Paulson Investment Company LLC, has been named in a customer initiated investment related written complaint on December 22, 2016, in which the customer requested $1,000,000.00 in damages based upon allegations that Graetz sold away from his firm, and made fraudulent omissions and […]

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Edward Jones Stockbroker Sanctioned For Selling Away

March 16, 2017  |   Posted by :   |   Promissory Notes, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Jason Edward Seurer, of Milbank, South Dakota, a stockbroker formerly registered with Edward Jones, has been penalized $7,500.00 and suspended for eighteen months by The State of South Dakota Division of Securities based upon Seurer consenting to findings that he sold away from his firm via his promissory note investment transactions. (Jan. 19, 2017). Previously, […]

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Merrill Lynch Stockbroker Sanctioned For Selling Away

March 08, 2017  |   Posted by :   |   Promissory Notes, Selling Away, Stockbroker Fraud News   |   0 Comments

Joshua David Stamm, of Lynchburg, Virginia, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been fined $10,000.00, prohibited from working in a supervisory capacity, and placed on heightened supervision based upon a Virginia State Corporation Commission Division of Securities Order containing allegations that Stamm engaged in outside business activities without […]

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Centaurus Financial Stockbroker Charged With Fraud

March 07, 2017  |   Posted by :   |   Promissory Notes, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Patric Ken Baccam, of Hemet, California, has been charged by the United States Securities and Exchange Commission (SEC) in a Complaint alleging that Hemet, inter alia, concocted a scheme to defraud investors in the sale of unsecured promissory notes. Securities and Exchange Commission v. Baccam, Docket No. 17-cv-172 (C.D. Cal. 2017). According to the Complaint, […]

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Cetera Advisors’ Tagge Tagged In FINRA Securities Arbitration

January 26, 2017  |   Posted by :   |   Promissory Notes, Stockbroker Fraud News   |   0 Comments

Gerald Tagge, of Omaha, Nebraska, a stockbroker currently registered with Cetera Advisors LLC, has been named or tagged in a customer initiated investment related written complaint on September 30, 2015, in which the customer requested $125,000.00 in damages based upon allegations that Tagge solicited and ultimately accepted promissory notes from the customer outside the auspices […]

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Western International Securities Stockbroker Charged In Investigation

November 29, 2016  |   Posted by :   |   Promissory Notes, Selling Away, Stockbroker Fraud News   |   0 Comments

Dawn Bennett, of Washington, District of Columbia, a stockbroker formerly associated with Western International Securities, has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Bennett failed to cooperate in a FINRA investigation into allegations that she potentially engaged in unauthorized private securities transactions or selling away, committed […]

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Accelerated Capital Group Officer Named In Customer Arbitrations Alleging Failure To Supervise

Janet Ross, of Irvine, California, the chief compliance officer and a registered principal of  Accelerated Capital Group, was named in a pending customer initiated investment related arbitration claim on September 15, 2016, in which the customer requested $400,000.00 in damages based upon allegations that Ross failed to supervise the sales of promissory notes to the […]

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Markel Newton Expelled For Lying About Private Placement Offerings

Markel Newton, also known as DT Securities, headquartered Toluca Lake, California, as well Daniel Markel, the firm’s president, owner, and chief compliance officer, and chief executive officer, were censured by Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm and Markel, inter alia, made misrepresentations to customers and engaged in unsuitable investment […]

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First Western Securities Stockbroker Suspended For Selling Away

David Newman, of Duncan, Oklahoma, a stockbroker with First Western Securities, was fined $15,000.00 and suspended for fifteen months from associating with any Financial Industry Regulatory Authority (FINRA) member firm after consenting to findings that he engaged in unauthorized private securities transactions. Letter of Acceptance, Waiver and Consent, No. 2015046649901 (May 20, 2016). According to […]

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Park Avenue Securities Stockbroker Barred In Investigation

Lizabeth Gotuaco Ty of Houston, Texas, a stockbroker with Park Avenue Securities LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that she obstructed a FINRA investigation into allegations of her involvement in unregistered securities sales. Letter of Acceptance, Waiver and Consent, No. […]

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Triad Advisors Tolmacs Barred In Investigation

Christopher Thomas Tolmacs of Portage Michigan, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he failed to cooperate with a FINRA investigation into allegations that Tolmacs engaged in unauthorized transactions with customers, made misleading statements in connection with such, and potentially converted customer […]

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Adirondack Trading Group Broker Barred In Note Investigation

Wayne Anthony Shultz, of Branchburg, New Jersey, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in all capacities after consenting to findings that he obstructed a FINRA investigation into notes that Schultz issued a client. Letter of Acceptance, Waiver and Consent, No. 2015044640601 (Feb. 5, 2016). According to the AWC, on […]

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Regulatory Failures Help Father and Son Bilk $53 Million From Investors

On November 5, 2015, by consent, the Securities and Exchange Commission obtained a judgment against George P. Brown, age 81, in connection with an action against George P. Brown and his son Kevin C. Brown, age 49, both of Pennsylvania, and their related entities, for fraud in connection with the sale of various unregistered securities […]

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Success Trade Securities Chief Executive Fuad Barred for Fraud

The National Adjudicatory Council for the Financial Industry Regulatory Authority (FINRA) just upheld a Hearing Panel Decision to bar Fuad Ahmed from associating with any FINRA member firm in any capacity as well as upholding the expulsion of his firm, Success Trade Securities, after finding that the respondents willfully engaged in securities fraud and selling […]

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Avenir Financial Group Charged for Defrauding Elderly Investors

September 11, 2015  |   Posted by :   |   Promissory Notes, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Avenir Financial Group, a brokerage firm headquartered in New York with approximately two dozen brokers operating from eight branch offices. The firm, along with Michael Clements and Karim Ahmed Ibrahim, were named in a FINRA Complaint where the Department of Enforcement has alleged that they have committed fraud via sale of promissory or equity notes, […]

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New York Life Securities Broker Sells Fraudulent Promissory Notes

August 18, 2015  |   Posted by :   |   Promissory Notes, Stockbroker Fraud News   |   0 Comments

Next to stealing a customer’s investments, the next best thing is to sell the customer a promissory note. A promissory note, more commonly known in this context as an IOU, is a promise to pay typically interest and principal by a date certain, subject of course to the creditworthiness of the issuer. Promissory Notes According […]

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