Stockbroker Fraud

Archive | Stockbroker Fraud

Investors Sue Aegis Capital For Fraud

Gregory Spencer O’Brien of New York New York a stockstockbroker formerly employed by Aegis Capital Corp. is the subject of a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages supported by accusations that between 2011 and 2018: (1) the customer’s account was handled in a negligent manner (2) the […]

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Wells Fargo Sued By Investors For Hedge Fund Fraud

Mikhail Filshtinskiy of Brooklyn New York a stockbroker formerly employed by Wells Fargo Advisors Financial Networks is the subject of a customer initiated investment related arbitration claim in which the customer requested $8,674,063.93 in damages founded on accusations that the customers were victim to a fraudulent scheme involving Filshtinskiy and a hedge fund manager. Financial […]

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FINRA Bars Windsor Street Stockbroker

Francine Ann Lanaia (also known as Fran McPherson) a stockbroker formerly employed by Windsor Street Capital LP has been barred from associating with any Financial industry Regulatory Authority (FINRA) member in any capacity based upon accusations that Lanaia failed to provide FINRA with information that had been requested from her. Case No. 2017052475701 (Oct. 29, […]

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SEC Bars Thompson Davis Broker For Fraud

Victor M. Dandridge III of Richmond Virginia a stockbroker formerly employed by Thompson Davis Co. Inc. has been barred by Securities and Exchange Commission (SEC) from being an investment advisor or broker or otherwise associating with investment advisories or brokerage firms according to an Order Instituting Administrative Proceedings Pursuant to Securities Exchange Act of 1934 […]

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Global Arena Broker Finally Barred For Failure To Pay Award

Jonathan Michael Sheklow of New York New York a stockbroker formerly registered with Global Arena Capital Corp has been suspended on May 23, 2016 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to pay a $151,373.17 award to a customer after a […]

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Investor Sues Blackbook Capital For Defective Investment Advice

Dennis Daniel Herrera of New York New York a stockbroker formerly associated with Blackbook Capital LLC is referenced in a customer initiated investment related arbitration claim which was settled for $14,500.00 in damages based upon allegations that equity transactions effected in the customer’s account were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) […]

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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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Investors Sue Network 1 For Breach Of Fiduciary Duty

Michael Scott Desando of Red Bank New Jersey a stockbroker currently employed by Network 1 Financial Securities Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $70,000.00 in damages founded on accusations that fiduciary duties owed to the customer were breached with regard to common or preferred stock […]

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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). In a parallel matter, Vaccarelli was charged […]

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J.P. Morgan Securities Broker Barred For Elder Abuse

Salman Rasheed of Skokie Illinois a broker 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 findings that Rasheed took advantage of an elderly investor with dementia who provided Rasheed $390,045.00 in gifts while Rasheed was associated with the […]

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FINRA Bars Kestra Broker In Settling Away Investigation

John William Spach of Aliso Viejo California a stockbroker formerly employed by Kestra Investment Services LLC and investment advisory representative formerly associated with NFP Retirement Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Spach failed to cooperate with a FINRA investigation into […]

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Merrill Lynch Sued By Investors For ETF Fraud

Raj Sharma of Boston Massachusetts a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Incorporated is the subject of a customer initiated investment related arbitration claim in which the customer requested $70,000.00 in damages founded on accusations that (1) misrepresentations and omissions had been made to the customer from January of 2012 to January […]

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Dawson James Sued By Investors For Churning

Dominic Joseph Linsalata Jr. of Boca Raton Florida a stockbroker formerly registered with Dawson James Securities Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $80,013.13 in damages supported by accusations that (1) misrepresentations had been made to the customer concerning equity investments and (2) excessive equity trades […]

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SEC Bars MP Global Broker For Fraud

Lee Dana Weiss of San Juan Puerto Rico a stockbroker formerly employed by MP Global Inc. and owner of Family Endowment Partners LP (FEP) has been barred by Securities and Exchange Commission (SEC) from being a broker or investment advisor or otherwise associating with brokers or investment advisories according to an SEC Order Instituting Administrative […]

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Regulator Bars Morgan Stanley Broker Naming Himself Customer’s Beneficiary For Elder Abuse

John Anthony Waszolek of Scottsdale Arizona a stockbroker formerly employed by Raymond James Associates Inc. is referenced in an Arizona Corporation Commission Order revoking his securities registration in the State of Arizona based on findings that Waszolek engaged in unethical practices in the securities industry through steering an investor with dementia towards making Waszolek a […]

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Purshe Kaplan Sterling Broker Barred By SEC For Fraud

February 20, 2019  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Larry Michael Phillips of Woodland Hills California a stockbroker formerly employed by Purshe Kaplan Sterling Investments and former owner of TPG Advisors (The Phillips Group Advisors) has been barred by Securities and Exchange Commission (SEC) from associating with any broker or investment advisor as well as any brokerage firm and investment advisory according to a […]

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FINRA Bars Allstate Broker In Investigation

February 20, 2019  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Robert Gerald Merlo of Midland Park New Jersey a stockbroker formerly employed by Allstate Financial Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Merlo disregarded a FINRA inquiry possibly pertaining to him being charged with fraud. Case No. 2017053574002 (Jan. 15, […]

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Columbus Advisory Group Sued For $22.5 Million Private Placement Fraud

Michael Patrick Murphy of New York New York the Chief Executive Officer of Columbus Advisory Group Ltd. is the subject of a customer initiated investment related arbitration claim where the customer requested $22,500,000.00 in damages supported by accusations that the customer had been placed in direct participation program or limited partnership interests that were not […]

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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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Ameritas Sued By Investors For Fraud

Marc Charles Harary of New York New York a stockbroker formerly employed by Ameritas Investment Corp. is referenced in a customer initiated investment related arbitration claim which was settled to resolve accusations that (1) contractual obligations to the customer had been breached (2) fiduciary duties were breached (3) account transactions were handled negligently (4) the […]

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Royal Alliance Broker Fired For Appointing Himself Beneficiary

Erven Joseph Frericks Jr. of Chesterfield Missouri a stockbroker formerly employed by Royal Alliance Associates Inc. has been discharged by the firm on May 11, 2018 supported by allegations that Frericks urged a customer to designate him as the beneficiary of half of the assets held in the customer’s annuity account. Financial Industry Regulatory Authority […]

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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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Customers Sue Hennion Walsh For Bad Investments

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

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FINRA Bars MetLife Stockbroker For Elder Abuse

Peter Orlando of Warwick Rhode Island a stockbroker formerly registered with MetLife Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Hearing Panel Decision containing findings that (1) Orlando made unsuitable investment recommendations to an elderly customer and […]

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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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David Lerner Associates Accused Of Unauthorized Trading

Martin Kevin Walcoe of Syosset New York a stockbroker currently employed by David Lerner Associates Inc. is referenced in a customer initiated investment related written complaint on August 9, 2016 where the customer requested unspecified compensatory damages founded on accusations that unauthorized trades of equities and government-debt products had been executed in the customer’s account. […]

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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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FINRA Bars Joseph Stone Broker In Investigation

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

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New Jersey Charges Former Merrill Lynch Broker With Dishonest Business Practices

Kai Chong Cheng of New York New York a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. and investment adviser representative and president of Affinity Capital Management LLC has been fined $10,000.00 and suspended for five years from registering as an investment advisor according to a New Jersey Bureau of Securities Administrative Consent […]

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Raymond James Sued By Investors For Theft

January 03, 2019  |   Posted by :   |   Embezzlement, Forgery, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Donald Marshall Cox a stockbroker currently employed by Raymond James Associates Inc. is referenced in a customer initiated investment related civil action in which the customer sought $2,000,000.00 in damages based upon allegations that between April of 2011 and November of 2015: (1) the customer’s funds were converted (2) the customer’s signature had been forged […]

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Investors Accuse MSI Financial Of Misrepresentation

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

Kevin Keith Carriere of Glastonbury Connecticut a stockbroker formerly employed by MSI Financial Services Inc. is the subject of a customer initiated investment related written complaint which settled for $148,488.90 on May 22, 2017 founded on accusations that Carriere made misrepresentations to the customer in regard to the terms and conditions of a variable annuity […]

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FINRA Suspends Spencer Edwards Private Placement Fraud

Spencer Edwards Inc. a brokerage firm headquartered in Centennial Colorado has been censured and fined $495,000.00 and suspended from conducting securities business for forty-five days by Financial Industry Regulatory Authority (FINRA) according to an Extended Hearing Panel Decision containing findings that (1) the firm made unsuitable investment recommendations to customers concerning private placement investments (2) […]

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FINRA Expels Sandlapper Securities For Fraud

Sandlapper Securities LLC a broker dealer headquartered in Greenville South Carolina and Trevor Gordon (its majority owner and Chief Executive Officer) and Jack Bixler (its Chief Executive Officer) have been sanctioned by Financial Industry Regulatory Authority (FINRA) according to a FINRA Office of Hearing Officers Extended Hearing Panel Decision containing findings that (1) Sandlapper Securities […]

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Center Street Securities Broker Charged With Fraud

Sean Joseph Kelly of Marietta Georgia a stockbroker formerly registered with Center Street Securities Inc. and the Chief Executive Officer of Lion’s Share Financial has been charged by Securities and Exchange Commission (SEC) in a Complaint alleging that Kelly defrauded twelve investors who provided him money through Lion’s Share to invest in alternative investments. Securities […]

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WestPark Capital Terminates Broker For Violating Policy

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

Kenneth Leopold Williams of Staten Island New York a stockbroker formerly registered with WestPark Capital Inc. has been terminated by the firm on May 24, 2017 based upon accusations that Williams failed to conform to WestPark Capital’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that this is not the first time that Williams […]

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Investors Sue National Securities Corporation For Churning

Kirt Samuel of New York New York a stockbroker formerly employed by National Securities Corporation is the subject of a customer initiated investment related arbitration claim in which the customer requested $5,750,000.00 in damages supported by allegations that (1) unauthorized trades were executed in the customer’s account (2) the customer’s over-the-counter equities portfolio was churned […]

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FINRA Charges NYLife Broker With Conversion

Marc Anthony Last of Berwyn Pennsylvania a stockbroker formerly registered with NYLife Securities LLC has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he converted a customer’s funds from the customer’s variable annuity. Department of Enforcement v. Marc Anthony Last Disciplinary Proceeding No. 2016052434001 (Sept. 17, 2018). According to the […]

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Network 1 Stockbroker Barred For Obstructing Investigation

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

Andrew Jason Mandell of Oakland California a stockbroker formerly registered with Network 1 Financial Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into accusations of possible violations of federal securities law. […]

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FINRA Finds Against Scottsdale Capital In Microcap Scam

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

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Cetera Advisors Stockbroker Barred For Securities Fraud

May 29, 2018  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Clark Smith Gardner of Orem Utah a stockbroker formerly employed by Cetera Advisors LLC has been barred by Securities and Exchange Commission (SEC) from associating with any brokerage firm or investment advisory according to an Order Instituting Administrative Proceedings in which Gardner consented to findings that he committed securities fraud. In the Matter of Clark […]

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Woodbury Financial Accused Of Misrepresentation

May 01, 2018  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Marc Gregory Minor of East Peoria Illinois a stockbroker formerly registered with Woodbury Financial Services Inc. is the subject of a customer initiated investment related written complaint on December 23, 2016 in which the customer requested $62,000.00 in damages supported by accusations that (1) the customer incurred undue losses from an insurance company’s exercise of […]

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Stifel Nicolaus Stockbroker Fined For Mismarking Trades

May 01, 2018  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Kevin Stephen Fitzpatrick of Geneva Illinois a stockbroker formerly registered with Stifel Nicolaus Co. 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 mischaracterized customers’ trades and mismarked trades as unsolicited. Letter of Acceptance Waiver and Consent […]

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United Planners Stockbroker Charged With Fraud

Thomas Tirrell Riquier of Danvers Massachusetts a stockbroker formerly registered with United Planners Financial Services of America is the subject of an Administrative Complaint brought by the Enforcement Section of the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth in which Riquier is alleged to have engaged in fraudulent business practices. […]

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Ameriprise Accused By Customer Of Omissions

Malcolm Lynn Norris of South Carolina is a former Ameriprise Financial Services Inc. registered representative who is the subject of customer initiated investment related written complaint on November 7, 2016 where the customer sought $143,220.62 in damages supported by accusations that (1) an unsuitable business development company purchase had been effected in the customer’s account […]

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Morgan Stanley Fires Stockbroker For Fraud

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

Michael Harvey Siva of Morristown New Jersey a stockbroker formerly registered with Morgan Stanley was terminated on August 18, 2017 based upon accusations that he committed securities fraud. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Siva has been identified in four customer initiated investment related disputes containing allegations of Siva’s improper conduct since […]

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Wells Fargo Sued For Unit Investment Trust Fraud

Michael Fisher of Melville New York is a stockbroker formerly registered with Wells Fargo Advisors LLC who is the subject of a customer initiated investment related arbitration claim where the customer requested $324,165.01 in damages based upon allegations that Fisher effected unit investment trust transactions in the customer’s account that were not suitable for the […]

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Wells Fargo Stockbroker Barred For Suitability

December 23, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Charles Henry Frieda, of Irvine, California, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made unsuitable investment recommendations to the firm’s customers. Letter of Acceptance, Waiver and Consent, No. 2015045713302 (Dec. […]

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Four Points Stockbrokers Charged By SEC With Churning

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

Zachary S. Berkey and Daniel T. Fischer, of Melville, New York, stockbrokers registered with Four Points Capital Partners LLC, were subject of a Complaint brought by the Securities and Exchange Commission containing accusations that Berkey and Fischer made unsuitable investment recommendations to customers, misrepresentations, and churned customers’ accounts. Securities and Exchange Commission v. Zachary S. […]

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SEC Bars Dawson James Stockbroker For Fraud

November 21, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Pranav V. Patel of Tamarac, Florida, has been barred from associating with an investment advisory or brokerage firm in any capacity, or otherwise working as a broker or investment advisor representative according to a Securities and Exchange Commission (SEC) Order containing findings that Patel committed securities fraud. In the Matter of Pranav V. Patel, Administrative […]

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du Pasquier Stockbroker Barred For Fraudulent Scheme

November 20, 2017  |   Posted by :   |   Stockbroker Fraud   |   0 Comments

James Larkin Powers, of New York, New York, a stockbroker formerly registered with du Pasquier & Co., Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Extended Hearing Panel Decision containing findings that he participated in a fraudulent trading scheme, placed transactions in […]

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CapWest Securities Charged With Fraud By SEC

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

Robert Russel Tweed, of San Marino, California, a stockbroker formerly associated with CapWest Securities, Inc., and member of a California based advisory firm, Tweed Financial Services, Inc., has been named in a Complaint brought by Securities and Exchange Commission (SEC), which alleged that Tweed defrauded investors by misrepresenting the performance of an investment fund as […]

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DeWaay Financial Barred For Fraud

September 22, 2017  |   Posted by :   |   Stockbroker Fraud   |   0 Comments

Lawrence Michael LaBine, of Scottsdale, Arizona, a stockbroker formerly registered with Newbridge Securities Corporation, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Order Accepting Offer of Settlement containing findings that LaBine fraudulently misrepresented information to investors and made unsuitable […]

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Accelerated Capital Group Stockbroker Suspended

September 15, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Jeffrey Alan Smith, of Irvine, California, a stockbroker formerly registered with Accelerated Capital Group, has been fined $5,000.00 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 utilized altered and pre-signed customer documents to effect investment transactions in customer […]

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Ladenburg Thalman Stockbroker Barred

August 17, 2017  |   Posted by :   |   Stockbroker Fraud, Unauthorized Trading   |   0 Comments

Elliot Harris, of Boca Raton, Florida, a stockbroker formerly registered with Ladenburg Thalmann & Co. Inc., 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 allegations of his unauthorized and unsuitable trading in customer accounts. Letter […]

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Regulator Bars Morgan Stanley Stockbroker For Fraud

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

Kim See Isaacson, of Salt Lake City, Utah, a stockbroker formerly registered with Morgan Stanley, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon a Decision & Order of Offer of Settlement containing findings that she willfully defrauded a customer, failed to abide by the […]

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Raymond James Terminates Stockbroker For Fraud

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

Joel Nathan Burstein Jr., of Coral Gables, Florida, a stockbroker registered with Raymond James & Associates, Inc., was terminated from employment on January 27, 2017, based upon the firm’s discovery that Burstein was identified in a customer initiated investment related dispute containing allegations against him of fraud. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals […]

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Another UBS Financial Customer Sues Over UBS AG Misrepresentations

Ankit Sahu, of San Francisco, California, a stockbroker formerly registered with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim on April 28, 2017, in which the customer requested $500,000.00 in damages based upon allegations that he effected unsuitable transactions in the customer’s investment account, and misrepresented UBS AG […]

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Alexander Capital Stockbroker Charged With Securities Fraud

June 08, 2017  |   Posted by :   |   Boilerroom, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

William Christian Gennity, of New York, New York, a stockbroker formerly registered with Alexander Capital, L.P., has been identified in a Securities and Exchange Commission (SEC) Complaint on February 2, 2017, in which the SEC has pursued sanctions against Gennity based upon allegations that he committed fraudulent stock transactions; conduct violative of Securities Act of […]

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Customer Brings Arbitration Against Royal Alliance

Kathleen Jeanette Tarr, of Lafayette, California, a stockbroker formerly registered with Royal Alliance Associates, Inc., has been named in a customer initiated investment related arbitration claim, which settled on February 27, 2017, for $550,000.00 in damages based upon allegations that Tarr made unsuitable investment recommendations to the customer regarding real estate securities. Financial Industry Regulatory […]

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SEC Charges Former PHX Financial Stockbroker Demitrios Hallas

Demitrios Hallas, a former registered representative of Forefront Capital Markets and and PHX Financial was charged today by the United States Securities & Exchange Commission with the violation of the antifraud provisions of the federal securities laws in connection with the recommendation and sale of unsuitable securities.  United States Securities & Exchange Commission v. Hallas, […]

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Essex Financial Services Stockbroker Barred By Regulator

April 25, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

John William Rafal, of Essex Connecticut, former president and chief executive officer of Essex Financial Services, Inc., has been barred by the Securities and Exchange Commission (SEC) from acting as an investment adviser, broker or associating with entities that sell securities or advise the investor public according to an Order Instituting Administrative Proceedings Pursuant to […]

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Titan Securities Stockbroker Named In Cease And Desist Order

April 25, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Donald Lee Wells, of Seattle, Washington, a stockbroker currently registered with Titan Securities, has been fined $2,500.00 and subject of cease-and-desist sanctions pursuant to a Consent Order issued by the State of Washington Department of Financial Institutions Securities Division based upon allegations that Wells, inter alia, violated the Securities Act of Washington antifraud provisions due […]

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NFP Advisor Services Stockbroker Barred By Regulator

April 25, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Howard Deen Richards, of Plymouth, Minnesota, a stockbroker formerly registered with NFP Advisor Services, has been barred by the Securities and Exchange Commission (SEC) from acting as an investment adviser, broker or associating with entities which sell securities or offer advice to the investor public pursuant to an Order Instituting Administrative Proceedings Pursuant to Sections […]

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Radnor Research Broker Barred By Regulator

April 25, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

William Scholander, of New York, New York, a stockbroker formerly associated with Radnor Research & Trading Company LLC, has been barred by the Securities and Exchange Commission (SEC) from acting as an investment adviser, broker or associating with entities which sell securities or offer advice to the investor public based upon an Order Instituting Administrative […]

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National Securities Corporation Stockbroker Barred By Regulator

April 20, 2017  |   Posted by :   |   Boilerroom, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Michael Alan Siegel, of Edison, New Jersey, a stockbroker formerly registered with National Securities Corporation, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon his failure to provide a response to FINRA staff’s information request. Letter No. 2016050346301 (Oct. 28, 2016). FINRA Public Disclosure reveals […]

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The Investment Center Sanctioned For Failure To Supervise

The Investment Center, headquartered in Bedminster, New Jersey, was reprimanded and fined $50,000.00 by Texas State Securities Board pursuant to a Consent Order containing findings that the firm failed to supervise a registered representative’s activities, which consisted of making unsuitable investment recommendations to customers. In the Matter of The Dealer Registration of The Investment Center, […]

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VSR Financial Services Named In FINRA Arbitration

Michael Daniel Shaw, of Baton Rouge, Louisiana, a stockbroker formerly registered with VSR Financial Services, Inc., has been named in a customer initiated investment related arbitration claim, in which customers were collectively awarded $307,000.00 in damages on February 4, 2016, based upon allegations that Shaw breached his fiduciary and contractual duties to the customers, negligently […]

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Feltl And Company Stockbroker Barred By Regulators

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

Lance Jeffrey Ziesemer, of Wayzata, Minnesota, a stockbroker formerly registered with Feltl & Company, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Ziesemer failed to provide a response to FINRA personnel’s information request. Letter No. 2016049847001 (Sept. 26, 2016). Ziesemer was previously […]

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McBarron Capital LLC CEO Officer Barred By Regulator

Robert Philip DePalo, of Greenwich, Connecticut, a former chief executive officer of McBarron Capital, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that DePalo failed to provide a response to FINRA pursuant to an information request. Letter No. 2015044211102 (Aug. 4, 2016). […]

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Craig Scott Capital Customers Allege Unsuitability

March 30, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

John Joseph Stapleton, of Uniondale, New York, a stockbroker formerly registered with Craig Scott Capital, has been named in a customer initiated investment related arbitration claim on January 3, 2017, in which the customer requested $48,223.26 in damages based upon allegations that Stapleton effected unsuitable stock transactions in the customer’s account. Craig Scott Capital however […]

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Wood Company Expelled For Cheating Customers

Wood (Arthur W.) Company, Inc., headquartered in Boston, Massachusetts, has been fined $10,000.00 and statutory disqualified by Financial Industry Regulatory Authority (FINRA) pursuant to a National Adjudicatory Council Decision containing findings that the firm, inter alia, charged customers commissions which were excessive, and failed to supervise commissions charged by registered representatives. In the Matter of […]

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Feltl And Company Failure To Supervise

Feltl & Company, a broker-dealer headquartered in Minneapolis, Minnesota, has been censured and fined $150,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firm, inter alia, failed to supervise a registered representative’s trading activities. Letter of Acceptance, Waiver and Consent, No. 2010024882202 (Feb. 28, 2017). According to the AWC, between October […]

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Woodstock Financial Stockbroker Under Investigation

March 21, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Joseph Louis Derrico, of Staten Island, New York, a stockbroker currently registered with Woodstock Financial Group, Inc., has been named in a regulatory investigation by the State of Montana Securities Division on February 1, 2017, based upon a customer’s complaint referencing Derrico’s misconduct in connection with over-the-counter equity transactions effected in the customer’s account. Financial […]

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Edward Jones Stockbroker Sanctioned For Selling Away

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

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

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Wells Fargo Advisors Stockbroker Barred

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

Marcus Joseph Debaise, of Glastonbury, Connecticut, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide a response to FINRA pursuant to an information request. Letter No. 2015046925901 (May […]

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KC Ward Financial Stockbroker Barred For Fraud

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

Craig David Dima, of Ronkonkoma, New York, a stockbroker formerly registered with K.C. Ward Financial, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Dima effected unauthorized trades in a customer’s […]

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Centaurus Financial Stockbroker Charged With Fraud

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

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

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Legend Securities Sued For Unsuitability

Michael Nicholas Guilfoyle, of New York, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim, which settled on October 2, 2015, for $99,999.00 in damages based upon allegations that Guilfoyle excessively traded or churned the customer’s investment account, made unsuitable over-the-counter equity recommendations, […]

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Financial West Group Stockbroker Barred

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

Kelly Clayton Althar, of San Francisco, California, a stockbroker formerly registered with Financial West Group, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Althar effected trades in a customer’s account on an […]

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Scottsdale Capital Advisors Corp Stockbroker Barred

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

Eric Joseph Miller, of Scottsdale, Arizona, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Office of Hearing Officers Default Decision containing findings that Miller failed to attend a disciplinary hearing and testify concerning his firm’s activities. Department of Enforcement v. Eric Joseph Miller, No. […]

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Centaurus Financial Stockbroker Barred Forgery

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

Stephen Eugene Winkelman Junior, of Pasadena, California, a stockbroker formerly registered with Centaurus Financial, Inc., was named in an Order issued by The State of Kansas Securities Commissioner which revoked Winkelman’s securities registration and instituted cease and desist sanctions against him based upon allegations that Winkelman falsified a customer’s consolidated financial statement and inflated values […]

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LPL Financial Stockbroker Suspended For Unsuitable Recommendations

Adam S. Fritzsche, of Atlanta, Georgia, a stockbroker formerly registered with LPL Financial LLC, has been fined 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 made unsuitable investment recommendations to customers and made misrepresentations on firm documentation concerning […]

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Ultralat Capital Markets CEO Barred For Failure To Supervise

February 27, 2017  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Alejandro Falla, of Miami, Florida, a former president and chief executive officer of Ultralat Capital Markets, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he omitted information from customers concerning non-market foreign exchange rates pertaining to transactions involving bond […]

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National Securities Corporation Sued By Customer For Fraud

February 27, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Trevor Joseph Wurtzebach, of Chicago, Illinois, a stockbroker formerly registered with National Securities Corporation, has been named in a customer initiated investment related arbitration claim, which settled on August 3, 2014, in which the customer received $80,000.00 in damages based upon allegations that Wurtzebach made fraudulent misrepresentations to the customer, breached his fiduciary duties, and […]

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Dawson James Sued For Unsuitable Trading

February 27, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Kennister Ulesley Daley, of Boca Raton, Florida, a stockbroker formerly registered with Dawson James Securities, Inc., has been named in a customer initiated investment related written complaint on January 5, 2017, in which the customer requested $65,000.00 in damages based upon allegations that Daley, from April of 2015 to February of 2016, traded options excessively […]

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Fifth Third Securities Stockbroker Fired For Falsification

February 27, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Kevin Mark Reed, of Fort Wayne, Indiana, a stockbroker formerly registered with Fifth Third Securities, Inc., has been terminated from employment on July 8, 2016, based upon allegations that he altered the documentation of firm customers. Financial Industry Regulatory Authority (FINRA)Public Disclosure reveals that Reed has been identified in two customer initiated investment related disputes […]

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Blackbook Capital Sued by Customer For Fraud

Samuel T. Januszeqski-Ytrt, of Mineola, New York, a stockbroker formerly registered with Blackbook Capital LLC, has been named in a customer initiated investment related arbitration claim on November 21, 2016, in which the customer requested $250,000.00 in damages based upon allegations that Januszeqski-Ytrt breached his fiduciary duties, made misrepresentations concerning investments, and defrauded the customer […]

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Sterne Agee Financial Services Sued for Misrepresentation

Dean Sadrudin Mustaphalli, of Forest Hills, New York, a stockbroker formerly registered with Sterne Agee Financial Services, Inc., has been named in a customer initiated investment related arbitration claim, which settled on December 1, 2015, for $400,000.00 in damages based upon allegations that Mustaphalli made misrepresentations to the customer concerning direct investment products, and effected […]

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Garden State Securities Stockbroker Terminated For Unsuitable Recommendations

February 14, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Tyre Fred Newsome, of New York, New York, a stockbroker with Garden State Securities, Inc., was terminated from employment on April 4, 2016, based upon allegations that he made unsuitable investment recommendations to the firm’s customers concerning investments. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that on April 18, 2011, a customer filed […]

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Lawson Financial Corporation Expelled For Securities Fraud

February 14, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Lawson Financial Corporation, a brokerage firm headquartered in Phoenix, Arizona, as well as Robert Lawson (president, chief executive officer, and chief compliance officer), and Pamela Lawson (owner and chief operating officer) were sanctioned by Financial Industry Regulatory Authority (FINRA) Office of Hearing Officers according to an Order Accepting Offer of Settlement containing findings that the […]

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H Beck Named For Unsuitable Annuity Sales

February 13, 2017  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Michael Lee Child, of Draper, Utah, a stockbroker currently registered with H. Beck, Inc., has been named in a customer initiated investment related written complaint, which settled on July 6, 2016, for $35,000.00 in damages based upon allegations that Child effected transactions in the customer’s account which were not suitable, and was liable for the […]

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Pruco Securities Stockbroker Barred In Investigation

February 13, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Hyun Sik Cho, of Dewitt, New York, a stockbroker formerly registered with Pruco 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 obstructed a FINRA investigation into allegations that he partook in unauthorized loan transactions with customers. Letter […]

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Caldwell International Securities Stockbroker Barred In Investigation

February 13, 2017  |   Posted by :   |   Exchange Traded Funds, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Ricardo Francois, of New York, New York, a stockbroker formerly registered with Caldwell International Securities, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to respond to a FINRA information request. Letter No. 2015043464602 (October 30, 2015). Prior to […]

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Meyers Associates Stockbroker Barred In Investigation

February 13, 2017  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Mark Zeltser, of Brooklyn, New York, a stockbroker formerly registered with Meyers Associates, L.P., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to respond to a FINRA information request. Letter No. 2014039091902 (Nov. 9, 2015). Prior to his […]

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New Jersey Based Morgan Stanley Broker Caught Stealing $5 Million

February 06, 2017  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Barry F. Connell, formerly of the Ridgewood office of Morgan Stanley, Inc., formerly known as Morgan Stanley Smith Barney, Inc., was charged by the United States Securities & Exchange Commission for the Connell, for the violation of Sections 206(1) and 206(2) of the Advisers Act, in that while acting as an investment adviser, by use […]

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Avenir Financial Group Stockbroker Suspended

February 02, 2017  |   Posted by :   |   Churning, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Richard Gomez of New York, New York, a stockbroker formerly registered with Avenir Financial Group, has been suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Gomez, inter alia, effected unauthorized and excessive trades in the customers’ accounts. Letter of Acceptance, Waiver […]

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LPL Financial LLC Stockbroker Barred For In Investigation

February 01, 2017  |   Posted by :   |   Selling Away, Stockbroker Fraud   |   0 Comments

Alfred Talens Jr., of Indianapolis, Indiana, a stockbroker formerly registered with LPL Financial LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Talens failed to provide FINRA personnel with a response to a request for Talens’ information. Case No. 2015044377301 (Oct. 13, […]

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Oppenheimer & Company Sued for Churning

January 26, 2017  |   Posted by :   |   Churning, Stockbroker Fraud   |   0 Comments

Zak William Shapiro, of Los Angeles, California, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been named in a customer initiated investment related written complaint on June 22, 2016, in which the customer requested $32,196.55 in damages based upon allegations that between April of 2015 to April of 2016, Shapiro effected trades in […]

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