Selling Away

Archive | Selling Away

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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FINRA Bars First Allied Stockbroker For Ignoring Inquiry

Gregory Alan Levine (also known as Greg Alan Levine) of Fort Lauderdale Florida a stockbroker formerly employed by First Allied Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Levine neglected to respond to an inquiry that FINRA made regarding his activities possibly […]

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Forest Securities Fires Stockbroker For Misrepresentation

David Michael Apted of Saint Louis Missouri a stockbroker formerly registered with Forest Securities Inc. has been discharged by the firm on February 28, 2018 based upon its accusations that (1) Apted engaged in an outside business activity without either disclosing it to the firm or obtaining its approval (2) Apted submitted fraudulent documentation to […]

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Morgan Stanley Stockbroker Suspended For Failure To Pay Arbitration Award

Jeffrey Michael Johnson (also known as Jeff Michael Johnson) of Birmingham Michigan a stockbroker formerly registered with Morgan Stanley has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Johnson failed to comply with the terms of a FINRA Arbitration Award. Case No. […]

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Global Strategic Investments Sued For Misrepresentation

Alejandro Ariel Torres of Miami Florida a stockbroker formerly registered with Global Strategic Investments LLC is the subject of a customer initiated investment related arbitration claim which was settled for $32,500.00 in damages founded on accusations that misrepresentations had been made to the customer by Torres in regard to the customer’s investments and (2) investments […]

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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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FINRA Bars American Portfolios Stockbroker In Investigation

Mark Lewton Hopkins of Grand Blanc Michigan a stockbroker formerly registered with American Portfolios Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Hopkins failed to comply with a FINRA investigation into allegations of (1) Hopkins taking possession of […]

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LPL Stockbroker Barred For Selling Away

Philip John Nalesnik of Pottsville Pennsylvania a stockbroker formerly registered with LPL Financial LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Nalesnik hindered a FINRA investigation into accusations of (1) Nalesnik engaging in outside business activities in violation of the […]

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FINRA Targets Stifel Nicolaus Stockbroker For Selling Away

May 23, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Joseph Hersey Pratt (also known as Joseph Hershey Butcher and J.H. Pratt) of Conshohocken Pennsylvania a stockbroker currently registered with Stifel Nicolaus Company is referenced in a Financial Industry Regulatory Authority (FINRA) investigation in which FINRA conveyed that its Department of Enforcement should take disciplinary action against Pratt for allegedly (1) engaging in private securities […]

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FINRA Charges Huntington Stockbroker With Selling Away

William Joseph Kielczewski of Toledo Ohio a stockbroker formerly registered with The Huntington Investment Company has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that (1) Kielczewski partook in private securities transactions without notifying the firm beforehand and (2) Kielczewski falsified information to the firm concerning the private […]

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SunTrust Stockbroker Barred In FINRA Investigation

Phillip Andrew Johnson of Nashville Tennessee a stockbroker formerly employed by SunTrust Investment Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Johnson refused to respond to a FINRA information request. Case No. 2018056846001 (Sept. 24, 2018). According to FINRA Public Disclosure, […]

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Titan Securities Sued By Investors For Selling Unregistered Investments

Rodger Sprouse of Overland Park Kansas a stockbroker currently employed by Titan Securities is the subject of an investment related civil action in the Circuit Court of Jackson County Missouri where the investor sought $210,000.00 in damages based upon accusations that Sprouse sold the investor a structured cash flow investment through an undisclosed outside business […]

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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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Regulators Sanctions Cetera Stockbroker For Selling Away

Ken Alan Balser of Colorado Springs Colorado a stockbroker formerly employed by Cetera Advisors LLC is referenced in a Colorado Division of Securities Stipulation and Consent Order which revoked Balser’s sales representative licensure and investment adviser license based upon the Division’s findings that Balser sold investments to customers away from Cetera Advisors LLC. Case No. […]

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Investors Sue Allstate Financial For Failure To Supervise

Paul Joseph Godlewski of Coatesville Pennsylvania a stockbroker formerly registered with Allstate Financial Services LLC is referenced in a customer initiated investment related arbitration claim which was settled for $28,000.00 in damages supported by allegations that (1) Godlewski solicited a customer’s private placement investment outside the firm’s auspices causing a customer losses and (2) Allstate […]

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PFS Sued For Stockbroker’s Sale of Outside Investments

Perry De Leeuw of Duluth Georgia a stockbroker formerly registered with PFS Investments Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $100,000.00 in damages based upon allegations that the customer sustained losses on money provided to Leeuw for an outside business investment that Leeuw supposedly concealed from […]

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GF Investment Services Accused Of Selling Unregistered Securities

Christopher Grant Conness of Fort Lauderdale Florida a stockbroker formerly employed by G.F. Investment Services LLC is the subject of a customer initiated investment related written complaint on May 16, 2018 in which the customer requested $100,001.00 in damages founded on allegations that Conness and GF Investment Services LLC permitted or otherwise failed to prevent […]

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Merrill Lynch Stockbroker Suspended For Selling Away

Michael Milad Tanha (also known as Mikey Tanha) of Beverly Hills California a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been fined $15,000.00 and suspended for ten months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Tanha engaged in […]

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Park Avenue Sued By Investors In Global Credit Recovery Scheme

John C. Howley (also known as Jack C. Howley) of Rumson New Jersey a stockbroker formerly registered with Park Avenue Securities LLC is referenced in a customer initiated investment related civil action brought in the Superior Court of New Jersey in which the customer requested $1,000,000.00 in damages and an unspecified amount of punitive damages […]

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FINRA Sanctions LPL Stockbroker For Customer Loans

James Edward Bashaw of Houston Texas a stockbroker formerly employed by LPL Financial LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Bashaw engaged in impermissible customer loan arrangements while associated with LPL Financial. Letter of Acceptance Waiver and Consent No. […]

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Ameriprise Stockbroker Sanctioned For Outside Activities

Corey Lee Mireau of Eden Prairie Minnesota a stockbroker formerly registered with Ameriprise Financial Services Inc. has been fined $15,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Mireau engaged in unapproved outside business activities (2) Mireau executed […]

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Wells Fargo Stockbroker and Wife Alleged to Be Bad Manors

David Manor of Boston Massachusetts a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint supported by accusations that (1) Manor engaged in unapproved outside business activities and private securities transactions involving a customer of the firm and (2) Manor […]

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Southeast Investments Stockbroker Barred For Fraudulent Customer Loans

Michael Paul Lessard Jr. of Rock Hill South Carolina a stockbroker formerly employed by Southeast Investments N.C. Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Lessard engaged in unauthorized customer loan agreements while registered with Southeast Investments N.C. Inc. and […]

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FINRA Bars HD Vest Stockbroker For In Investigation

Thomas H. Laws of Silver City New Mexico a stockbroker formerly employed by HD Vest Investment Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Laws failed to provide FINRA with recorded testimony in its investigation into allegations of Laws’ involvement […]

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Wells Fargo Stockbroker Suspended For Outside Activities

Jason Barrett Lane of New York New York a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Lane engaged in unapproved outside business activities during the time that he was associated […]

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FINRA Fines American Portfolio Stockbroker For Selling Away

Gary Arthur Forrest of Flint Michigan a stockbroker formerly employed by American Portfolio Financial Services has been fined $5,000.00 and suspended for ten months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Forrest engaged in unapproved private securities transactions. Letter of Acceptance Waiver and […]

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Newbridge Stockbroker Barred For Selling Away

Dennis Allen Hayes of Boca Raton Florida a stockbroker formerly employed by Newbridge Securities Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Order Accepting Offer of Settlement containing findings that (1) Hayes engaged in private securities transactions while […]

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Foresters Equity Stockbroker Caught Selling Away

John Dale Ernst of San Diego California a stockbroker formerly employed by Foresters Equity Services Inc. has been fined $5,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Ernst engaged in private securities transactions involving the sale of Woodbridge promissory notes. […]

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FINRA Catches LPL Financial Stockbroker Selling Away

Scott Patrick Klor of Fort Mill South Carolina a stockstockbroker formerly registered with LPL Financial LLC has been fined $5,000.00 and suspended for fourteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in securities transactions away from LPL Financial LLC and […]

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FINRA Bars Kestra Stockbroker For Selling Away

George Mackley Robertson of Darien Connecticut a stockbroker formerly registered with Kestra Investment Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Robertson sold away from Kestra Investment Services (2) Robertson engaged in outside business activities without disclosing them […]

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J.P. Morgan Broker Barred In Selling Away Investigation

Donovan St. Anthony Hunter of Houston Texas a stockbroker formerly employed by J.P. Morgan Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to comply with FINRA’s investigation into accusations that Hunter engaged in unapproved outside business 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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Foresters Equity Broker Barred In Investigation

Michael John Rappa of San Diego California a broker formerly employed by Foresters Equity Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Rappa failed to cooperate with FINRA personnel who had been investigating Rappa’s possible unauthorized private securities transactions. […]

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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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Northwestern Broker Caught Selling Away

February 19, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Kejuan Yang of New York New York a former Northwestern Mutual Investment Services registered representative 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 Yang sold away from T3 Trading Group. Letter of Acceptance Waiver and Consent No. 2016050545001 […]

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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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Windsor Street Caught Engaging In Outside Business Activities

Imtiaz A. Khan (also known as Raana Khan) of New York the former executive vice president and managing partner at Windsor Street Capital LP has been fined $20,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Order Accepting Offer of Settlement containing findings that (1) […]

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MML Broker Caught Selling Away

February 05, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Matthew Leon White of Little Rock Arizona a broker formerly employed by MML Investors Services LLC has been fined $5,000.00 by Arkansas based upon consenting to the Arkansas Securities Department’s findings that White sold away from his firm. Case No. S-18-0105 (Oct. 17, 2018). According to the Order, prior to White having become registered with […]

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FINRA Suspends Wells Fargo Broker For Dodging Inquiry

February 05, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Herbert H. Hafen of New York New York a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Hafen failed to provide a response to FINRA after an inquiry was made into his activities possibly […]

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Investors Sue TCM Securities For Massive Bond Fraud

James Hal Heafner (also known as Jim Heafner) of Charlotte North Carolina a stockbroker formerly registered with Taylor Capital Management Inc and former investment adviser representative of Retirement Wealth Advisors is the subject of a customer initiated investment related arbitration claim in which the customer requested $268,015.79 in damages founded on allegations that (1) inappropriate […]

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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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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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Regulator Fines NYLife Broker For Outside Business Activities

Grant P. Talbert of Lexington Kentucky a stockbroker formerly registered with NYLife Securities LLC has been fined $15,000.00 and suspended for sixteen months from being an investment adviser representative, investment adviser, agent or broker-dealer in the State of Kentucky based upon findings that (1) Talbert and an investment adviser entered into a solicitor relationship without […]

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FINRA Bars Principal Broker Caught Selling Away

Steven Eugene Bonner of Campbell California a stockbroker formerly employed by Principal Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Bonner neglected to comply with FINRA’s information requests. Case No. 2017052748201 (July 14, 2017). Evidently, FINRA made attempts at procuring information […]

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Mutual Services Broker Caught Selling Woodbridge Notes

January 19, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Gary Lyle Pevey of Sacramento California a stockbroker formerly registered with Mutual Services Inc. has been fined $10,000.00 and suspended for twelve months 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. Letter of Acceptance Waiver and Consent No. […]

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Newbridge Broker Caught Selling Away

Dennis Allen Hayes of Melville New York a stockbroker formerly registered with Newbridge Securities Corporation has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that (1) Hayes sold away from Newbridge Securities Corporation (2) Hayes failed to document his communications with the firm regarding his activities and (3) […]

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SEC Investigates Broker For Private Equities

January 06, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Michael Orr of Rye Brook New York a stockbroker formerly employed by NYPPEX LLC is referenced in a Securities Exchange Commission (SEC) Investigation dated January 17, 2017 into Orr’s possible infractions of federal securities laws or rules in reference to his negotiations of Betaworks Studios LLC private equity securities transactions. Financial Industry Regulatory Authority (FINRA) […]

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Merrill Lynch Stockbroker Caught Selling Away

January 06, 2019  |   Posted by :   |   Customer Loans, Selling Away, Stockbroker Fraud News   |   0 Comments

Patrick Thomas Golden of Charlotte North Carolina a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith has been fined $15,000.00 and suspended for twenty months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Golden engaged in private securities (2) Golden engaged in […]

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Oberweis Broker Barred For Selling Away

Ralph Richard Von Lutzow of Sarasota Florida a stockbroker formerly registered with Oberweis Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Von Lutzow engaged in private securities transactions involving customers of the firm (2) Von Lutzow accepted customer […]

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AXA Broker Suspended For Unauthorized Trading

Dennis Changseop Lee of Middle Villages New York a stockbroker formerly employed by AXA Advisors LLC has been fined $15,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he mismarked customers’ order tickets and failed to disclose his discretionary […]

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LPL Broker Fired For Outside Business Activities

Scott Edward Burns of Monroe Michigan a stockbroker formerly registered with LPL Financial LLC has been discharged on August 14, 2018 based upon the firm’s accusations that Burns committed a violation of LPL Financial LLC’s policy by way of engaging in unapproved outside business activities during the time that he was employed with the firm. […]

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Capital Investment Group Broker Caught Selling Away

Seth Andrew Nannini of Charlotte North Carolina a stockbroker currently registered with Capital Investment Group has been fined $7,500.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Nannini engaged in https://stockbrokerfraud.com/selling-away/unauthorized private securities transactions. Letter of Acceptance Waiver and […]

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LPL Fires Broker For Outside Business Activities

January 03, 2019  |   Posted by :   |   Customer Loans, Selling Away, Stockbroker Fraud News   |   0 Comments

Mark Thomas Lamkin of Louisville Kentucky a stockbroker formerly employed by LPL Financial LLC has been discharged by the firm on August 17, 2018 founded on accusations that (1) Lamkin took possession of customer funds or benefited from those funds through loans that were not approved by the firm (2) Lamkin failed to inform the […]

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American Independent Securities Broker Barred In Investigation

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

Nicholas Randolph Radke Jr. of Irvine California a stockbroker formerly employed by American Independent Securities Group LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide FINRA with documentation and information in an investigation into accusations of Radke […]

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FINRA Bars Merrill Lynch Broker For In Investigation

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

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

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FINRA Fines Securities America Broker For Excessive Trading

December 21, 2018  |   Posted by :   |   Churning, Excessive trading, Selling Away, Stockbroker Fraud News   |   0 Comments

Michael Dennis Jackson of University Place Washington a stockbroker formerly registered with Securities America Inc. has been fined $10,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Jackson engaged in selling away (2) Jackson effected unauthorized trades in […]

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Royal Alliance Brokers Charged With Outside Business Activities

Charles Edwin Taylor, John Lodge Farmer and Jodi Oyler Padgett, all of Prescott Arizona and stockbrokers for Royal Alliance Associates Inc., have been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that (1) Taylor, Farmer and Padgett engaged in unapproved outside business activities and (2) Taylor failed to supervise Farmer’s and Padgett’s […]

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FINRA Bars Henley Broker For Obstructing Investigation

Mitchell Allen Kurtz of Roslyn Heights New York a stockbroker formerly employed by Henley Company LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into accusations that Kurtz violated Securities and Exchange Commission (SEC) and FINRA […]

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General Securities Corp Broker Barred In Investigation

December 13, 2018  |   Posted by :   |   Private Placement Fraud, Selling Away, Stockbroker Fraud News   |   0 Comments

Noel Carino of North Kansas City Missouri a stockbroker formerly employed by General Securities Corp has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA’s investigation into accusations of (1) Carino engaging in unapproved outside business activities […]

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RBC Capital Markets Sued By Investors For Misappropriation

John Robert McGinnis of Escondido California a stockbroker formerly employed by RBC Capital Markets is referenced in a customer initiated investment related arbitration claim which was resolved for $652,000.00 in damages supported by accusations that between 2009 and 2015: (1) McGinnis sold the customer private placement investments outside the auspices of RBC Capital Markets (2) […]

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Woodbridge Victims File Claims Against Quest Capital

November 29, 2018  |   Posted by :   |   Failure To Supervise, FINRA Securities Arbitration, Selling Away   |   0 Comments

Frank Roland Dietrich, of Lake Forrest, California, formerly associated with Quest Capital Strategies, Inc. was barred by the Financial Industry Regulatory Authority in connection with the sale of Woodbridge Group related securities. Letter of Acceptance Waiver & Consent, No. 2018057197801 (November 26, 2018). Dietrich, betwen 2013 and 2017, was found to have solicited fifty eight […]

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Flying Cloud Broker Caught Selling Away

November 23, 2018  |   Posted by :   |   Promissory Notes, Selling Away, Stockbroker Fraud News   |   0 Comments

Luke Andrew Powell of San Francisco California a stockbroker formerly registered with Flying Cloud Securities LLC 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 sold away from his firm. Letter of Acceptance Waiver and Consent No. 2015045185501 […]

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Signator Broker Barred By FINRA For Obstructing Investigation

November 12, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

David Carl Ferwerda of Grand Rapids Michigan a stockbroker formerly registered with Signator Investors 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 comply with FINRA in an investigation concerning his alleged unapproved private securities transactions. Letter of […]

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Pacific West Broker Sanctioned For Selling Away

November 03, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Gary Alan Meier of Vancouver Massachusetts a stockbroker and investment advisor representative formerly employed by Pacific West Securities Inc. and Pacific West Financial Consultants Inc. is referenced in a Consent Order issued by the Washington State Department of Financial Institutions Securities Division in which Meier has been fined and suspended from engaging in investment advisory […]

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MML Investors Broker Fined For Outside Business Activities

Robert Jay Myers of Greenwood Village Colorado a stockbroker formerly employed by MML Investors Services LLC has been fined $20,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in undisclosed outside business activities. Letter of Acceptance Waiver […]

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Merrill Lynch Finally Discharges Dick Sladek For Outside Activities

Richard Bruce Sladek of Coeur D’Alene Idaho a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. has been discharged by the firm on August 16, 2017 founded on accusations that Sladek violated Merrill Lynch’s policies by failing to inform the firm about his outside business activities and having participated in an unauthorized financial […]

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Morgan Stanley Terminates Broker For Outside Activities

Jorey T. Bernstein of Beverly Hills California a stockbroker formerly employed by Morgan Stanley has been has been terminated on December 9, 2015 founded on Morgan Stanley’s accusations that Bernstein engaged in outside business activities and unauthorized arrangements with a third party. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Bernstein is also the […]

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CIM Securities Censured By FINRA For Failure To Supervise

CIM Securities LLC (also known as Brookline Capital Markets) a brokerage firm headquartered in Centennial Colorado has been censured and fined $15,000.00 by Financial Industry Regulatory Authority (FINRA) based upon the firm’s consent to findings that its failed to supervise three registered representatives’ private securities transactions. Letter of Acceptance Waiver and Consent No. 2017052070001 . […]

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FINRA Bars Independent Financial Broker For Obstruction

Jon Richard Pariser of Pacific Grove California a stockbroker formerly registered with Independent Financial Group LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA’s investigation into Pariser’s referral of customers to an unregistered individual who […]

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Morgan Stanley Broker Barred In Investigation

October 22, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

John Halsey Buck III of Boston Massachusetts a stockbroker formerly registered with Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Buck obstructed FINRA’s investigation into allegations that he engaged in unauthorized private securities transactions. Letter of Acceptance Waiver and […]

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Despain Discharges Broker For Unapproved Investments

Jay R. Weiser of Collinsville Illinois a stockbroker formerly employed by Despain Financial Corporation has been discharged by the firm on June 22, 2018 based upon customers’ allegations that Weiser sold them life insurance products and regulation D investment products that were inappropriate for the customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms […]

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UBS Discharges Broker For Outside Business Activities

Bryon Leonel Reyes of Lafayette Louisiana a stockbroker formerly employed by UBS Financial Services Inc. has been discharged by the firm on April 26, 2018 supported by allegations that (1) Reyes failed to inform UBS about his outside business activities and investments after Reyes had already been reprimanded by the firm for his non-disclosures and […]

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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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Investors Sue Foresters Equity Services For Bad Advice

Michael John Rappa of San Diego California a stockbroker formerly registered with Foresters Equity Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $75,000.00 in damages supported by accusations that Rappa poorly advised the customer concerning real estate security transactions executed away from the firm. Financial Industry Regulatory […]

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Transamerica Broker Barred In Investigation

October 04, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Atiq Urrehman Khan (also known as Daniel Khan) of Covina California a stockbroker formerly employed by Transamerica Financial Advisors Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Khan’s consent to findings that he obstructed a FINRA investigation into allegations of his unapproved solicitation of […]

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FINRA Fines NTB Stockbroker For Selling Away

September 28, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

George Louis McCaffrey III of Englewood Colorado a stockbroker formerly registered with NTB Financial Corporation has been fined $15,000.00 and suspended for eighteen months from associating with any FINRA member in any capacity based upon consenting to findings that he engaged in private securities transactions. Letter of Acceptance Waiver and Consent No. 2017056104701 (Sept. 10, […]

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ProEquities Fires Broker For Selling Away

September 28, 2018  |   Posted by :   |   Outside Business Activities, Selling Away, Stockbroker Fraud News   |   0 Comments

Rick Dean Holt (also known as Rickie Dean Rasmussen) a formerly ProEquities Inc. registered representative has been discharged by ProEquities on July 27, 2018 based upon accusations that Holt failed to inform the firm about his outside business activities concerning another broker dealer or investment advisory. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals […]

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HD Vest Broker Barred For Obstructing Investigation

Donna Lynn Barnard of Kilgore Texas a stockbroker formerly registered with HD Vest Investment Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she obstructed a FINRA investigation into accusations of her sales practice violations relating to her Woodbridge promissory notes […]

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LPL Broker Suspended For Failure To Respond To FINRA

September 27, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Gretchen Jenkins of Rochester New York a stockbroker formerly registered with LPL Financial LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Jenkins failed to provide FINRA personnel with information after an inquiry was made by FINRA into her activities. Case No. 2018057783001 […]

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FINRA Bars UBS Stockbroker For Selling Away

James Arthur Kujawski of Annapolis Maryland a stockbroker formerly employed by UBS Financial Services Inc. has been fined $10,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in private securities transactions and outside business activities. Letter of […]

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BMO Harris Broker Barred By FINRA For Failure To Comply

September 12, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Brandon M. Williams of Madison Wisconsin a stockbroker formerly registered with BMO Harris Financial Advisors Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to respond to FINRA’s request for Williams’ information. Case No. 2017055123601 (Nov. 22, 2017). On November 22, […]

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FINRA Fines National Securities Broker For Selling Away

David Woods Unsworth Jr. of San Francisco California a stockbroker formerly employed by National Securities Corporation 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 Unsworth engaged in private securities transactions. Letter of Acceptance Waiver and Consent No. 2016050066401 […]

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Allstate Stockbroker Suspended By FINRA For Selling Away

August 25, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Mark Brian Quimby of Tampa Florida a stockbroker formerly employed by Allstate Financial Services LLC has been fined $10,000.00 and suspended for three months 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 […]

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FINRA Bars UBS Stockbroker In Investigation

August 25, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Melanie Haning of Las Vegas Nevada a stockbroker formerly registered with UBS Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Haning failed to provide information to FINRA after it was formally requested of her. Case No. 2017056399901 (Apr. 12, 2018). […]

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Investacorp Broker Fired For Selling Away

August 17, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

William Jeremiah Thompson of Alpharetta Georgia a stockbroker formerly employed by Investacorp Inc. has been discharged by the firm on September 8, 2015 founded on allegations that Thompson failed to abide by the policies and rules of the firm relating to investments authorized by the firm to be sold. Financial Industry Regulatory Authority (FINRA) Public […]

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FINRA Bars UBS Stockbroker In Selling Away Investigation

August 17, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Alex Gerardo Herrera of Coral Gables Florida a stockbroker formerly employed by UBS Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into accusations of his involvement in private securities transactions […]

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Merrill Lynch Discharges Stockbroker For Selling Away

August 14, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Frank Howard Zito of Ridgeland Mississippi a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Inc. has been discharged by the firm on June 25, 2018 supported by accusations that Zito failed to abide by the firm’s policies concerning outside business activities disclosures and selling away from the firm. Financial Industry Regulatory Authority (FINRA) […]

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Retirement Group Retires Broker For Selling Away

August 13, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Cory James Chapman (also known as Mickens Chapman) a stockbroker formerly employed by FSC Securities Corporation and The Retirement Group, has been terminated from the Retirement Group on December 14, 2017 supported by allegations that Chapman sold away from the firm. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that on April 18, 2016, […]

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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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Growth Capital Broker Found Selling Away

July 31, 2018  |   Posted by :   |   Hedge Funds, Selling Away, Stockbroker Fraud News   |   0 Comments

Kenny Danny Mezher of San Francisco California a stockbroker formerly registered with Growth Capital 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 consenting to findings that he participated in unauthorized private securities transactions. Letter of Acceptance Waiver and Consent No. […]

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Transamerica Registered Representative Suspended By FINRA

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

Roy Aurelio Gaytan of Thousand Oaks California a former registered representative of Transamerica Financial Advisors has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that he did not comply with FINRA’s information request. Case No. 2017054506901 (Nov. 13, 2017). FINRA Public Disclosure confirms that Gaytan […]

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Voya Discharges Stockbroker For Outside Business Activities

Peter Tinchu Po of Cupertino California a stockbroker formerly employed by Voya Financial Advisors Inc. has been discharged by the firm on August 4, 2015 founded on allegations that Po violated the firm’s policies by (1) engaging in undisclosed outside business activities and (2) discussing investments with the investor public without the firm’s permission. Financial […]

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Investors Sue Raymond James For Securities Fraud

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

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Investors File Lawsuits In Selling Away Scheme

July 12, 2018  |   Posted by :   |   Selling Away, Stockbroker Theft   |   0 Comments

Investor suits are piling up against Gould, Ambroson & Associates for an investment scheme perpetrated by one of its principals Matthew Evan Eckstein. Between December 2014 and December 2015 while associated with Gould, Ambroson & Associates Eckstein illegally sold over $1.3 million of investments in Conmac Funding Corp. to his customers, including elderly, conservative investors. […]

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UBS Stockbroker Discharged For Selling Away

July 12, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Paul William Murans (also known as Peace Murans) a stockbroker formerly employed by UBS Financial Services Inc. has been discharged by the firm on October 10, 2017 founded on accusations that Murans (1) failed to apprise the firm about being subject of a customer compliant (2) executed unapproved life-settlement transactions away from the firm and […]

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