Securities Fraud

Archive | Securities Fraud

Investors Sue Presidential Brokerage For Fraud

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

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Investors Sue Oppenheimer For Securities Fraud

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

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SEC Bars First Standard Stockbroker For Fraud

William Christian Gennity of Staten Island New Jersey a stockbroker formerly registered with First Standard Financial Company has been barred from being a stockbroker or investment advisor or otherwise associating with investment advisories or securities broker dealers according to an SEC Order containing findings that Gennity defrauded investors. In the Matter of William C. Gennity […]

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FINRA Bars IFS Stockbroker For Hindering Investigation

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

Keith Wakefield of Chicago Illinois a stockbroker formerly employed by IFS Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Wakefield’s consent to findings that he failed to cooperate with a FINRA investigation into accusations of him effecting fraudulent trades while associated with IFS Securities. […]

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Western International Stockbroker Sentenced In Ponzi Scheme

Bradley Carl Mascho of Frederick Maryland a stockbroker formerly employed by Western International Securities Inc. and former Chief Financial Officer of DJB Holdings was sentenced on August 28, 2019 to thirty months in prison for (1) conspiracy to commit securities fraud in reference to his alleged solicitation and receipt of funds from investors for purchases […]

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SEC Charges LPL Stockbroker With Ponzi Scheme

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

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Forefront Income Trust CEO Barred For Obstruction

Bradley Carl Reifler of New York New York a stockbroker formerly registered with Forefront Capital Markets (also former Chief Managing Officer of Forefront Capital Advisors LLC and Chief Executive Officer of Forefront Income Trust) is the subject of a Financial Industry Regulatory Authority (FINRA) National Adjudicatory Council Decision that affirmed a FINRA Hearing Panel Decision […]

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FINRA Bars MSI Stockbroker In Fake Securities Investigation

October 14, 2019  |   Posted by :   |   Ponzi Scheme, Securities Fraud, Stockbroker Fraud News   |   0 Comments

Benjamin Benoit Lowder Jr. of Charlotte North Carolina a stockbroker formerly registered with MSI Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Lowder failed to cooperate with a FINRA investigation into accusations of his potentially fraudulent trading practices. Letter of […]

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Whitehall Parker Stockbroker Sanctioned For Selling Away

October 14, 2019  |   Posted by :   |   Securities Fraud, Selling Away, Stockbroker Fraud News   |   0 Comments

James Marten Lamont of San Francisco California a stockbroker currently employed by Whitehall-Parker Securities Inc. has been fined $10,000.00 and suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Lamont sold promissory notes investments in Woodbridge Group of Companies LLC outside the auspices […]

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Newbridge Securities Sued By Investors For Fraud

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

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Newbridge Stockbroker Barred By SEC For Fraud

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

Gerald John Cocuzzo (also known as Gerry Cocuzzo and as Jerry Cocuzzo) of Boca Raton Florida a stockbroker formerly employed by Newbridge Securities Corporation has been barred from being a stockbroker or investment advisor representative or otherwise associating with securities broker dealers or investment advisories according to a Securities and Exchange Commission (SEC) Order containing […]

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FINRA Sanctions Paulson Stockbroker For Unauthorized Trading

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

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Park Hill Group Sued By Investors For Fraud

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

Andrew Caspersen of New York New York a stockbroker registered with Park Hill Group LLC is the subject of a civil action brought in the Supreme Court of the State of New York where the customer sought $16,000,000.00 in damages founded on allegations that (1) Caspersen fraudulently solicited a foundation’s securities transactions and (2) Caspersen […]

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Investors Sue Wells Fargo For Misrepresentation

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

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FINRA Bars Global Arena Stockbroker For Failure To Pay Arbitration Award

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

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Windsor Street Capital Expelled By FINRA For Fraud

Windsor Street Capital L.P. (formerly known as Meyers Associates L.P.) has been expelled from Financial Industry Regulatory Authority (FINRA) membership, and Arthur Tacopino and Edwin Rodriguez (Windsor Street Capital’s associates) have been barred from associating with any FINRA member in any capacity, all according to a Default Decision issued by FINRA’s Office of Hearing Officers […]

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SEC Bars Concorde Stockbroker For Fraud

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

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Wells Fargo Accused By Investors Of Fraud

Peter Frank Valdez of Junction New York a stockbroker currently employed by Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related written complaint on September 19, 2018 where the customer sought $17,000.00 in damages founded on accusations that while Valdez was associated with Wells Fargo, omissions had been made to […]

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Legend Securities Compliance Officer Admits To Misconduct

Christopher Nicholas Cacace of New York New York a former Chief Compliance Officer of Legend Securities Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Cacace failed to inform FINRA about customer initiated investment related disputes alleging the […]

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Wilbanks Securities Sued For Failure To Disclose REIT Risks

Randall Lee Wilbanks of Oklahoma City Oklahoma a former executive of Wilbanks Securities Inc. has been named in a customer initiated investment related arbitration claim in which the customer sought $290,000.00 in damages based upon accusations that Wilbanks was responsible for (1) making omissions or misrepresentations concerning the risks pertaining to real estate security and […]

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FINRA Charges Aegis Capital Corp Broker With Fraud

James Bradley Schwartz (also known as Jim Schwartz) of New York New York a stockbroker formerly registered with Aegis Capital Corp. has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that (1) Schwartz excessively traded and churned customers’ accounts and (2) Schwartz engaged in deceptive and fraudulent activities […]

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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 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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Accelerated Capital Group Blasted For Churing Customer Accounts

Accelerated Capital Group a brokerage firm headquartered in California has been censured and fined $400,000.00 by Financial Industry Regulatory Authority (FINRA) founded on accusations that the firm’s brokers: (1) executed unauthorized trades in customer accounts (2) sold customers investments that were not suitable for them and (3) executed trades in customer accounts on an excessive […]

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Alexander Capital Broker Barred In Boilerroom Investigation

Michael Alejandro Castillero of New York New York a stockbroker formerly employed by Alexander Capital has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Castillero failed to testify in a FINRA investigation into accusations of (1) Castillero making unauthorized trades in a […]

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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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Investors Sue Portfolio Advisors Alliance For Churning

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

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FINRA Bars Craig Scott Capital Broker For Churning

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

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FINRA Bars Cetera Broker In Investigation

Kenneth Joseph Kolquist of Duluth Minnesota a stockbroker formerly employed by Cetera Advisor Networks LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Kolquist failed to provide FINRA with information that was requested of him. Case No. 2015047359901 (Aug. 1, 2016). According to […]

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Craig Scott Capital Broker Barred By FINRA

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

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RP Capital Pays $5.8 Million In Alternative Investments Lawsuit

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

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SEC Bars Wells Fargo Advisors Broker For Fraud

Aaron Robert Parthemer of Fort Lauderdale, Florida has been fined $160,000.00 and barred from being a broker or investment adviser or otherwise associating with any brokers or investment advisories according to an Order Making Findings and Imposing Sanctions Pursuant To Securities Exchange Act of 1934 Section 15(b), Investment Advisers Act of 1940 Section 203(f) and […]

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Trident Partners Compliance Director Barred For Fraud

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

William Michael Quigley of Woodbury New York a former Director of Compliance of Trident Partners Ltd. has been barred from acting as an investment adviser or broker or otherwise associating with firms advising the public or selling securities according to a Securities and Exchange Commission (SEC) Order containing findings that Quigley engaged in a fraudulent […]

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Investor Accuses Citizens Securities For Fraud

Bruce Richard Cooke of Broomall Pennsylvania a stockbroker formerly employed by Citizens Securities Inc. is referenced in a customer initiated investment related written complaint on November 9, 2017 where the customer sought damages estimated to exceed $5,000.00 founded on accusations that (1) Cooke made misleading representations to the customer regarding a fixed annuity investment (2) […]

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Wells Fargo Sued By Investor For Securities Fraud

November 12, 2018  |   Posted by :   |   Bond Fraud, Securities Fraud, Stockbroker Fraud News   |   0 Comments

Raymond Phillip Kvalvog of Fargo North Dakota a former Wells Fargo Advisors LLC branch manager has been ordered by an Arbitration Panel to pay a customer $75,383.75 in compensatory damages based on the Panel finding Kvalvog and Wells Fargo liable for committing fraud by steering the customer into placing more than $2,000,000.00 of the customer’s […]

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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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Glendale Broker Charged With Illegal Sale of Securities

September 12, 2018  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Jose Miguel Abadin of Sherman Oaks California a shareholder and equity trader of Glendale Securities Inc. has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Abadin’s activities caused the firm to effect unlawful securities sales. Department of Enforcement v. Jose Miguel Abadin, Disciplinary Proceeding No. 2016049565901 (Oct. […]

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SEC Bars Pin Financial Chief Executive Officer For Fraud

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

Tobin Joseph Senefeld of Indianapolis Indiana a former chief executive officer of Pin Financial LLC has been barred by Securities Exchange Commission (SEC) from associating with any broker or investment advisor in any capacity according to an Order Making Findings and Imposing Remedial Sanctions Pursuant to Securities Exchange Act of 1934 Section 15(b). In the […]

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SEC Bars LPL Stockbroker For Fraud

June 12, 2018  |   Posted by :   |   Ponzi Scheme, Securities Fraud, Stockbroker Fraud News   |   0 Comments

Thomas Edward Andrews of Salt Lake City Utah a former LPL Financial LLC registered representative has been barred by Securities and Exchange Commission (SEC) in all capacities according to an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 containing findings that Andrews committed securities fraud. In the Matter […]

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LPL Stockbroker Barred By SEC in $40 Million Fraud

November 01, 2017  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Brandon Preston Long of Alpharetta, Georgia, a stockbroker formerly registered with LPL Financial LLC, has been barred by Securities and Exchange Commission (SEC) from associating with any broker or investment adviser according to an SEC Order containing findings that Long misled investors in the course of selling annuity products. In the Matter of Brandon P. Long, […]

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FINRA Charges Glendale Securities With Securities Fraud

November 01, 2017  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Glendale Securities, Inc., a brokerage firm headquartered in Sherman Oaks, California, as well as George Alberto Castillo, the firm’s president and primary trader, have been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that the firm and Castillo, among others, engaged in a fraudulent stock trading scheme. Department of Enforcement v. Glendale […]

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National Securities Stockbroker Charged With Theft

Kyle P. Harrington, of San Diego, California, a stockbroker formerly registered with National Securities Corporation, has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that he converted a customer’s funds, sold away from his firm, and falsified documentation to FINRA in regard to his activities. Department of Enforcement […]

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DMS Funds Stockbroker Charged With Fraud

March 08, 2017  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Peter Rajinder Kohli, of Pottstown, Pennsylvania, chief executive officer and present of DMS Advisors and chairman and trustee of DMS Funds, has been charged along with DMS Advisors, Inc., Marshad Capital Group, Inc., and The DMS Funds in a Complaint by the Securities and Exchange Commission (SEC) alleging that Kohli and the firms committed fraud […]

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LaSalle Street Securities Stockbroker Barred For Selling Away

January 03, 2017  |   Posted by :   |   Securities Fraud, Selling Away, Stockbroker Fraud News   |   0 Comments

Joel Martin Weiner, of Boyton Beach, Florida, a stockbroker formerly associated with LaSalle Street Securities L.L.C., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in unauthorized outside business activities. Letter of Acceptance, Waiver and Consent, No. 2015044783402 (Dec. 21, […]

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Noble Financial Capital Markets And Firm President Charged With Fraud

December 07, 2016  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Noble Financial Capital Markets, headquartered in Boca Raton, Florida, as well as the firm’s president, Nicolaas Petrus Pronk, have been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that the firm and Pronk defrauded the firm’s customers. Department of Enforcement v. Noble Financial Capital Markets et al., No. 2013035740901 […]

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Securities Equity Group Stockbroker Suspended For Selling Away

J. Randall Gladden of El Cajon, California, a stockbroker with Securities Equity Group, was fined $15,000.00 and suspended for twelve months 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 findings that Gladden had engaged in unauthorized private securities […]

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Cantone Research President Charged with Fraud

December 09, 2015  |   Posted by :   |   Securities Fraud, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Cantone Research Inc., located Tinton Falls, New Jersey, along with its President and majority owner, Anthony J. Cantone, and Christine L. Cantone have been named by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging fraudulent misrepresentations and omissions of material fact in connection with the sales and subsequent extensions of over […]

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Monex Securities Fined for Unfair Commissions

Monex Securities, Inc., of Houston, Texas, was censured and fined $25,000 by the Financial Industry Regulatory Authority (FINRA) after consenting to findings that the firm sold (or bought) corporate bonds to (or from) customers and failed to sell (or buy) such bonds at a price that was fair within six transactions. Letter of Acceptance, Waiver […]

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Northwestern Mutual Broker Fined for Outside Business Activities

November 15, 2015  |   Posted by :   |   Securities Fraud, Selling Away, Stockbroker Fraud News   |   0 Comments

Richard J. Rubin, Jr. of Stamford, Coonecticut, a registered representative for Northwestern Mutual, was fined $5,000 and suspended for fifteen days from association with any Financial Industry Regulatory Authority (FINRA) member firm in any and all capacities after consenting to findings that he engaged in an outside business activity without the written approval of his […]

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Halcyon Cabot Partners Expelled for Fraudulent Churning Scheme

October 19, 2015  |   Posted by :   |   Churning, Securities Fraud, Stockbroker Fraud News   |   0 Comments

Halcyon Cabot Partners, Ltd. was expelled from Financial Industry Regulatory Authority (FINRA) membership, while two of its principals, Ronald Mark Heineman and Michael Trent Morris, were permanently barred from association with any FINRA member in any capacity per an Order Accepting Offer of Settlement containing findings of widespread violations of securities laws including a scheme […]

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Westpark Capital Broker Suspended for Fraud

October 05, 2015  |   Posted by :   |   Securities Fraud, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Michael S. Bell, a Stockbroker with Westpark Capital, was suspended from association with all Financial Industry Regulatory Authority (FINRA) member firms after consenting to findings that he violated his firm’s written supervisory procedures in sending e-mails that were unbalanced, promissory, and misleading. Letter of Acceptance, Waiver, and Consent No. 2014041848801 (Apr. 30, 2015). Westpark Capital […]

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Questar Capital Corporation Broker Barred for Obstruction

Jeffrey A. Mohlman, a registered representative with Questar Capital Corporation, was permanently barred in all capacities from associating with any Financial Industry Regulatory Authority (FINRA) member after consenting to allegations that he had failed to cooperate with FINRA’s investigation into allegations that Mohlman engaged in unapproved and undisclosed private securities transactions. Letter of Acceptance, Waiver, […]

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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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Oppenheimer & Co. Broker Suspended For Outside Business Activities

Royce O. Simpson, a registered representative with Oppenheimer & Co. Inc., was suspended from association with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity and faced a $15,000.00 fine after consenting to findings that he engaged in outside business activities without approval of his firm, while also failing to timely respond to […]

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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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Rogue Broker Barred for Obstructing Investigation

Christopher Frederic Veale, a registered representative who worked at eighteen brokerage firms in 18 years, 7 of which were expelled by FINRA, was charged by the Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Veal failed to provide written documentation, information, and on-the-record testimony concerning an investigation into potential violations of securities laws. […]

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Cadaret Grant Broker Suspended for Unsuitable Recommendations

Douglas William Finlay, Jr., a registered representative with Cadaret Grant, was suspended, fined, and forced to pay disgorgement by the Financial Industry Regulatory Authority after consenting to findings that Finlay engaged in an unsuitable recommendation and execution of a faulty transaction in his firm’s customer account. Letter of Acceptance, Waiver, and Consent, No. 2013035576601 (Apr. […]

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Carolina Financial Securities CEO Vindicated of Securities Fraud Charge

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

Carolina Financial Services, a FINRA member since 1997 headquartered in Brevard, North Carolina, engages in private placement offerings via 15 registered reps operating out of 4 locations. The firm and Bruce Victor Roberts (the firm’s founder, CEO, and COO) were charged by FINRA’s Department of Enforcement in a Complaint alleging fraudulent misrepresentations and omissions in […]

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B.B. Graham Broker Barred for Obstructing Investigation

Thomas Morley Hogle, a general securities representative formerly associated with B.B. Graham & Company, was permanently barred from association with any FINRA member firm in any capacity after failing to cooperate with a FINRA investigation into allegations that Hogle made unsuitable investment recommendations in his former firm’s account of an elderly customer. FINRA Letter of […]

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Massachusetts Financial Advisor and Firm Charged In Connection with Deceptive Advertising Scheme

August 10, 2015  |   Posted by :   |   Securities Fraud, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Barry Graham Armstrong from Needham Heights, MA, a financial advisor with Securities America, Inc. and Armstrong Advisory Group, were charged by the Enforcement Section of the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth in a Complaint alleging Armstrong had engaged in a misleading and dishonest advertising campaign in violation of […]

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Halcyon Cabot Partners, Ltd. Charged in FINRA Complaint with Widespread Violations of FINRA Rules and Federal Securities Laws

Halcyon Cabot Partners, Ltd., a FINRA member since 2007 operating out of New York City, NY, employs roughly 30 registered representatives in its full-service brokerage capacity. The Firm, along with two of its principals, Ronald Mark Heineman and Michael Trent Morris, were charged by FINRA’s Department of Enforcement in a Complaint alleging a myriad of […]

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Wells Fargo Advisors Censured, Fined $500,000 for Unsuitable Recommendations to Customers

Wells Fargo Advisors, a FINRA member Firm since 1987 headquartered in St. Louis, Missouri, conducts retail brokerage / wealth management business via 7,000 branch offices and employs roughly 25,000 registered reps. The Firm, in proposing settlement of rule violations alleged by FINRA without admitting or denying the findings, consented to a FINRA censure and fine […]

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Injured Investors Lose More Than Just Money

March 12, 2015  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Everyone who represents injured investors knows that they often lose more than just money. Defrauded investors, generally early retirees, are often older, penniless, and have little to no prospect for re-employment. They lose everything and have nothing. Some take on menial minimum wage jobs, are forced to sell their homes, and move in with their […]

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SEC Bars Raymond James Broker Thomas K. Keough for Sale of Unregistered Securities

March 03, 2015  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Thomas Keough of North Reading, Massachusetts was barred by the United States Securities & Exchange commission for the sale of unregistered securities whil Keough was a registered representative with Raymond James Financial Services, Inc. and Morgan Stanley. The SEC found that beginning in approximately 2002 and continuing through 2009, Keough raised approximately $110 million from investors […]

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Securities Fraud Lawsuits & Investor Losses Drop Significantly

April 02, 2014  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

­A report released today by the Stanford Law School Securities Class Action Clearinghouse in cooperation with Cornerstone Research finds the number of securities fraud class actions filed in 2005 decreased more than 17 percent compared to 2004 levels, falling from 213 filings to 176. The 2005 filing rate is nearly 10 percent below the 1996 ­- […]

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International Arbitration and Mediation

April 02, 2014  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Sixteen specialist panels will examine Cultural Considerations in International Arbitration: Bridging the Divide – Civil vs. Common Law Ad-hoc or Institutional Arbitration – The Good and the Bad Procedure Under the UNCITRAL Model Rules Drafting the Arbitration Clause – Addressing the Issues Anti-suit Injunctions – Protection of Legal and Equitable Rights Arbitration and the Feeling […]

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Former CEO of Brookstreet Securities Fined $10 Million for CMO Fraud

A federal judge in Los Angeles has ordered Stanley C. Brooks, the former CEO of Brookstreet Securities Corp., to pay the maximum civil penalty of $10 million in a securities fraud case that goes back to the financial crisis, the Securities and Exchange Commission (SEC) announced on March 2. According to the docket, Judge David […]

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Former Wells Fargo Broker Fined for Altering IPO Forms Without Authorization

February 13, 2012  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

A former stockbroker for Wells Fargo Advisors LLC has been fined $5,000 and suspended from the financial industry for six months for changing dates and account numbers on forms without customers’ permission. In June 2010, Judith Martin altered the dates and account numbers on 25 Initial Public Offering (IPO) Certification Forms that the Wells Fargo […]

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Citigroup Global Markets Fined $725,000 for Disclosure Violations

January 31, 2012  |   Posted by :   |   Failure to Disclose, Securities Fraud, Stockbroker Fraud News   |   0 Comments

Citigroup Global Markets Inc. was censured and fined $725,000 this month by the Financial Industry Regulatory Authority (FINRA) for its failure to comply with disclosure requirements. From January 2007 through about March 2010, Citigroup Global failed to comply with the disclosure requirements of Rule 2711 of the National Association of Securities Dealers (NASD), a predecessor to […]

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SEC Charges Florida Penny Stock Promoter With Three Counts of Securities Fraud

January 30, 2012  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Penny stock promoter First Resource Group LLC and its principal David H. Stern were charged with three counts of fraud by the Securities and Exchange Commission (SEC) in a complaint filed on Jan. 26. The SEC Complaint Stern and his Florida company fraudulently manipulated the market for the stock of two small, thinly traded companies, […]

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Investment Analyst Fraud Continues At Morgan Stanley

August 11, 2010  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

Following the 2003 Global Settlement with FINRA and the Securities & Exchange Commission, were Morgan Stanley paid $125 million in fines, disgorgement, and “procurement of Independent Research,” it seems Morgan Stanley has been caught again publishing inaccurate and misleading investment research report, which fail to disclose Morgan Stanley?s financial interests, and conflicts of interest to […]

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You & The Law: Claims Against Your Financial Advisor (Part 2)

November 27, 2008  |   Posted by :   |   Securities Fraud, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Last week I told you about what happened to Hal and his wife, both 67, retired, and long time readers. From more than a million dollars in their 401K account as of January, 2006, their investments have lost close to $750,000. Why? What Went Wrong? “In our final preparations for retirement, in early 2006 even […]

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Investor Suitability & The Application of MSRB Rules to Transactions in Auction Rate Securities

Recent downgrades of municipal bond insurers and other short-term liquidity concerns have created extreme volatility in the market for municipal Auction Rate Securities. There also have been an unprecedented number of “failed auctions,” meaning that investors who chose to liquidate their positions through the auction process were not able to do so.  This situation may […]

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Oppenheimer & Co. Fined $1 Million by FINRA

The Financial Industry Regulatory Authority has fined Oppenheimer & Co. Inc. $1 million to settle charges it produced “flawed, incomplete and untimely data” in breakpoint self-assessment. FINRA claimed that New York boutique firm Oppenheimer submitted fund breakpoint data to FINRA that the firm knew to be inaccurate, in addition to other supervisory deficiencies, in 2003. […]

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Citigroup Smith Barney Pays $5M to State of New Jersey for Deceptive Activities

NEWARK, NJ – Citigroup Global Markets Inc. has been ordered to cease and desist from violations of the New Jersey Uniform Securities Law, and to pay the state $5 million in civil monetary penalties under the terms of a consent order announced today by Attorney General Anne Milgram, Consumer Affairs Acting Director Stephen B. Nolan […]

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Morgan Stanley Will Pay $8M to Settle Fraud Case

Morgan Stanley agreed Wednesday to pay nearly $8 million to settle federal fraud charges stemming from its reported failure to get retail stock investors the best prices possible on more than a million over-the-counter transactions. The Settlement Over roughly three years, the Securities and Exchange Commission said Wednesday in announcing the settlement, “Morgan Stanley’s automated […]

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