Stockbroker Theft

Archive | Stockbroker Theft

Morgan Stanley Stockbroker Barred For Conversion

John William Cutshall of Frederick Maryland a stockbroker formerly registered with Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member according to an Order Accepting Offer of Settlement based on findings that (1) Cutshall converted a customer’s funds and (2) Cutshall improperly utilized a customer’s funds. Department of Enforcement […]

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Bonwick Capital Partners Owner Barred For Conversion

April 10, 2019  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Devin Lamarr Wicker of New York New York the majority owner, Chief Executive Officer and Chief Compliance Officer of Bonwick Capital Partners LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Extended Hearing Panel Decision containing findings that Wicker converted a customer’s funds. Department […]

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FINRA Bars Mutual Of Omaha Broker In Investigation

Edward Earl Matthes (also known as Ed Matthes) of Oconomowoc Wisconsin a stockbroker formerly registered with Mutual of Omaha Investor 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 with FINRA in an investigation into accusations […]

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Royal Alliance Broker Sentenced To Prison For Fraud

Kimberly Pine Kitts of Palmer Massachusetts a stockbroker formerly registered with Royal Alliance Associates Inc. was sentenced by a federal district court judge to more than seven years in prison, three years of supervised release and required to pay restitution of $3,085,939.00 according to the United States Attorney’s Office based upon Kitts pleading guilty to […]

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FINRA Bars Cherry Hill Allstate Stockbroker In Theft Investigation

Ciro Joseph Santoro of Cherry Hill New Jersey a stockbroker formerly registered with Allstate Financial Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Santoro did not provide FINRA with information that had been requested of him during its inquiry into Santoro’s […]

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FINRA Bars State Farm Stockbroker In Investigation

Bradley Allen Latting of Lawton Oklahoma a stockbroker formerly registered with State Farm VP Management Corp has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he neglected to comply with FINRA’s investigation into accusations of (1) Latting’s conversion of an elderly customer’s […]

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SEC Bars Morgan Stanley Stockbroker For Fraud

Cornelius Peterson of Boston Massachusetts an investment adviser representative and stockstockbroker formerly employed by Morgan Stanley has been barred by the Securities and Exchange Commission (SEC) from associating with any investment advisor or stockbrokerage firm according to an Order Instituting Administrative Proceedings According to Investment Advisers Act of 1940 Section 203(f) and Securities Exchange Act […]

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Investors Accuse Cantella Stockbroker Of Unauthorized Trading

Ricardo Eduardo Harmsen of Pittsboro North Carolina a stockstockbroker currently registered with Cantella Co. Inc. is the subject of a customer initiated investment related complaint on February 11, 2019 in which the customer sought $200,000.00 in damages supported by allegations that a transfer of the customer’s assets had been effected without the customer’s permission while […]

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BBVA Stockbroker Barred In Investigation

Adrian Torres Ortega of Sun City West Arizona a stockbroker formerly employed by BBVA Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Ortega failed to cooperate with a FINRA investigation into accusations of his unauthorized transfer of a customer’s investment funds. […]

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Investors Win Against Fintegra CEO In Promissory Note Scheme

Doreen Lea Weber (also known as Doreen L. Tyler Strand and as Doreen Lea Strand) the former Chief Executive Officer of Fintegra LLC. is named in a customer initiated investment related arbitration claim in which the customer was awarded $20,000.00 in compensatory damages based upon Weber being found liable on the customer’s claims of (1) […]

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FINRA Bars MML Stockbroker In Investigation

March 28, 2019  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Tyler James Woodward of Colorado Springs Colorado a stockbroker formerly employed by MML Investors Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon a FINRA Hearing Panel Decision containing findings that Woodward failed to give documentation to FINRA and provide recorded testimony before FINRA personnel […]

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Investacorp Fires Broker For Unauthorized Access To Customer Accounts

Andrew Joseph Fairchild of Parkland Florida a stockbroker formerly employed by Investacorp Inc. has been terminated from employment on December 6, 2018 based upon the firm’s allegations that Fairchild inappropriately contacted a third party to effect withdrawals from customers’ annuities accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that a customer filed an […]

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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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Investors Sue Insight Securities For Fraud

Carlos Javier Legaspy of Highland Park Illinois the President and Chief Executive Officer of Insight Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer requested $2,765,000.00 in damages based upon accusations that while Legaspy was associated with Insight Securities Inc.: (1) customers were presented with fraudulent documents to effect […]

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CFWP Securities Broker Barred By FINRA In Investigation

Stephen Michael Hart of New York New York a stockbroker formerly employed by CFWP Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Hart failed to cooperate with FINRA’s investigation into his possible conversion of funds. Letter of Acceptance Waiver and Consent […]

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TD Broker Barred In FINRA Theft Investigation

Leonardo S. Araujo of Coral Gables Florida a stockbroker formerly employed by TD Ameritrade Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he failed to cooperate with FINRA’s request for his information. Case No. 2016049044601 (Aug. 28, 2017). According to FINRA Public […]

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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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FINRA Bars Wells Fargo Broker In Theft Investigation

Somning Pheth (also known as Demo Pheth) 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 founded on accusations that Pheth failed to provide FINRA with information that had been formally requested of him through a FINRA inquiry. […]

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FINRA Charges Charles Schwab Broker With Stealing

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

Andrew Manual Garcia of Indianapolis Indiana a stockbroker formerly registered with Charles Schwab Co. Inc. has been charged by Financial industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Garcia converted a customer’s funds. Department of Enforcement v. Andrew Manual Garcia, Disciplinary Action No. 2017054899801 (Feb. 4, 2019). According to the Complaint, […]

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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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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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State Farm Broker Fired For Misuse Of Investor Funds

Perry Davis Stalvey of Bloomington Illinois a stockbroker formerly registered with State Farm VP Management Corp. was discharged on February 6, 2018 based upon the firm’s allegations that Stalvey misused money that was provided to him by a customer of the firm pertaining to an investment transaction. FINRA Public Disclosure reveals that Stalvey is also […]

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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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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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FINRA Bars Ameritas Broker In Theft Investigation

Kristian M. Gaudet of Cut Off Louisiana a stockbroker formerly registered with Ameritas Investment Corp has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Gaudet failed to cooperate with a FINRA investigation into allegations of Gaudet’s misuse of customer funds during the […]

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Edward Jones Broker Barred In FINRA Theft Investigation

James Thomas Walters II of Macon Georgia a stockbroker formerly employed by Edward Jones has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Walters neglected to provide a response to FINRA’s information request possibly concerning his termination from Edward Jones. FINRA Case No. 2018058353701 […]

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Northwestern Broker Barred In Misappropriation Inquiry

James Christopher Ward of Fort Meyers Florida a stockbroker formerly registered with Northwestern Mutual Investment Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to honor FINRA’s requests for information. Case No. 2018058038201 (Sept. 4, 2018). FINRA reportedly lodged an […]

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FINRA Bars JP Morgan Broker In Theft Investigation

January 19, 2019  |   Posted by :   |   Forgery, Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Michael Patrick Nanto of Del Mar California 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 founded on allegations that Nanto failed to comply with FINRA during an inquiry into Nanto’s activities. Case No. 2017054342001 (May 24, 2018). According […]

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LPL Financial Broker Barred For Elder Theft

Robert James Wodicker of Arnold Missouri a stockbroker formerly registered with LPL Financial LLC has been fined $80,000.00 and barred from registering as an investment adviser representative or broker-dealer agent in Missouri according to a Final Order to Cease and Desist and Order Awarding Civil Penalties Cost and Other Administrative Relief based on findings that […]

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FINRA Charges CP Capital Broker With Fraud

Jorge A. Reyes of Miami Florida a stockbroker formerly registered with CP Capital Securities has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that between May of 2013 and August of 2016, Reyes (1) utilized misleading materials to market private placements (2) advised a customer to purchase a private placement that […]

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IFS Securities Sued For Breach Of Fiduciary Duty

Steven Douglas Schisler of Grass Valley California a stockbroker currently registered with IFS Securities is referenced in a civil action brought in the Nevada County Superior Court of Nevada City California where the plaintiff sought restitution based upon allegations that while Schisler was associated with IFS Securities Inc. (1) fiduciary duties owed to the plaintiff […]

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Huntington Stockbroker Barred In Theft Investigation

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

Frank Blaise Anthony Restifo Jr. of Willoughby Hills Ohio a stockbroker formerly employed by The Huntington Investment Company has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Restifo failed to comply with FINRA’s request for information. Case No. 2017053647201 (Sept. 25, 2017). FINRA Public […]

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FINRA Bars Bastardo In Stockbroker Theft Investigation

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

Roberto Omar Bastardo of Jupiter Florida a stockbroker formerly employed by Wells Fargo Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Bastardo failed to respond to a FINRA inquiry which may have concerned Bastardo’s discharge from Wells Fargo Advisors LLC. FINRA […]

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Principal Securities Fires Broker For Misappropriation

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

Christopher Thomas Hildebrandt of Cape May Court House New Jersey a stockbroker formerly registered with Principal Securities Inc. has been discharged by the firm on October 30, 2018 based upon accusations that (1) Hildebrandt effected unauthorized transactions in a customer’s account and (2) Hildebrandt misappropriated funds from a trust account. Financial Industry Regulatory Authority (FINRA) […]

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National Securities Corp Stockbroker Barred For Conversion

Kyle Patrick Harrington of San Diego California a stockbroker formerly employed by National Securities Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon a FINRA Extended Hearing Panel’s findings that (1) Harrington converted a customer’s funds (2) Harrington tried to hide that he stole funds […]

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Broker Barred For Stealing Money From His Mother

Robert Lee Basile of Corona California, a stockbroker formerly employed by Waddell Reed Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he stole the funds belonging to a Waddell Reed customer, whom just happened to be his own elderly mother, […]

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LPL Financial Broker Barred For Taking Dead Clients’ Money

Cheryl Ann Stallings of Amarillo Texas a stockbroker formerly employed by 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 (1) Stallings violated the firms supervisory procedures and systems (2) Stallings impermissibly utilized the funds of an LPL Financial […]

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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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Broker Ban Banned For Mishandling Customer Funds

Tony Ban of New York New York a stockbroker formerly employed by Pruco Securities LLC has been discharged by the firm on May 12, 2017 supported by allegations that Ban (1) procured cash from several of the firm’s customers (2) failed to appropriately document the transactions (3) mishandled the customer’s funds and (4) inappropriately used […]

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FINRA Charges MML Broker With Hindering Investigation

Tyler James Woodward of Colorado Springs Colorado a stockbroker formerly registered with MML Investors Services LLC has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in Complaint alleging that Woodward failed to cooperate in a FINRA investigation into allegations that he converted a customer’s funds. Department of Enforcement v. Tyler J. Woodward […]

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Wells Fargo Stockbroker Barred By FINRA For Conversion

Thomas A. Davis of Hilton Head Island South Carolina a stockbroker formerly employed by Wells Fargo Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a Default Decision containing findings that Davis converted funds from customers and failed to cooperate with FINRA’s investigation into […]

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FINRA Bars Farmers Financial Broker For Failure To Respond

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

Christopher John Tiernan of Marshall Town Iowa a former Farmers Financial Solutions LLC registered representative has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he failed to comply with FINRA’s request for information about his possible misconduct. Case No. 2016050691901 (July 27, 2017). FINRA […]

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FINRA Bars Wells Fargo Broker In Theft Investigation

Wilfred Rodriguez Jr. of Boca Raton Florida 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 based upon consenting to findings that he failed to comply with FINRA’s requests in an investigation into Rodriguez’s purported conversion of customer […]

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Investor Sues CoreCap Investments For Conversion

Raymond Max Pett of Southfield Michigan a stockbroker currently registered with CoreCap Investments, Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $170,000.00 in damages based upon allegations that Pett was liable for a registered representative having stolen the customer’s assets. FINRA Arbitration No. 18-01283 (August 9, 2018). […]

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Oppenheimer Broker Suspended For Investor Loans

Patrick McGrath III of Miami Florida a stockbroker formerly employed by Oppenheimer Co. Inc. has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he borrowed funds from a customer without permission. Letter of Acceptance Waiver and Consent No. 201303723890 […]

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Moors Cabot Broker Barred By FINRA In Theft Investigation

Robert Todd Clark of Boston Massachusetts a stockbroker formerly employed by Moors Cabot 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 with a FINRA investigation into allegations of Clark’s unauthorized use of customer funds. Letter of […]

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FINRA Bars Hazard Siegel Broker In Theft Investigation

Howard Raymond Utz of Mars Pennsylvania a stockbroker formerly registered with Hazard Siegel 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 with FINRA’s investigation into allegations of his conversion of a customer’s funds. Letter of Acceptance […]

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FINRA Bars United Planners Broker For Conversion

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

Eugene Donald Anderson (also known as Gene Anderson) a stockbroker formerly registered with United Planners’ Financial Services of America has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted customers’ funds. Letter of Acceptance Waiver and Consent No. 2016051376401 (Feb. 10, […]

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SEC Bars PFS Investments Stockbroker For Stealing

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

Barkley JW Lundy Jr. (also known as Mike Lundy Jr.) of Rapid City South Dakota a stockbroker formerly registered with PFS Investments Inc. has been barred by Securities and Exchange Commission (SEC) from having any association with any broker or investment adviser according to an Order containing findings that Lundy committed fraud. In the Matter […]

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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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FINRA Bars Ameriprise Broker In Theft Investigation

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

Jeffrey Joseph Kelly of Getzville New York a stockbroker formerly registered with Ameriprise 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 provide information and documentation to FINRA concerning his possible misappropriation or conversion of customer […]

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BBVA Broker Barred For Failure To Reply To Regulator

Stephen Robert Adams of Birmingham Alabama a stockbroker formerly employed by BBVA Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Adams failed to provide FINRA’s staff information that had been requested of him in an investigation into his activities. Case No. […]

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PFS Investments Broker Barred By FINRA For Stealing

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

Daniel Noah Winger of Federal Way Washington a stockbroker formerly registered with PFS Investments Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted funds belonging to a customer of the firm. Letter of Acceptance Waiver and Consent No. 2018059559101 […]

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Lincoln Financial Advisors Broker Accused Of Theft

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

Steven Harvey Serot of Saint Louis Missouri a former Lincoln Financial Advisors Corporation registered representative is referenced in a customer initiated investment related written complaint on March 30, 2017 where the customer sought more than $5,000.00 in damages supported by allegations that the customer’s funds had been misappropriated from the customer’s variable annuity. Financial Industry […]

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FINRA Bars Morgan Stanley Broker For Theft

Justin Travis Mair of Glens Falls New York a stockbroker formerly employed by Morgan Stanley has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted a customer’s funds. Letter of Acceptance Waiver and Consent No. 2016051547601 (June 13, 2018). According to […]

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Morgan Stanley Stockbroker Charged With Stealing

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

John William Cutshall of Frederick Maryland a stockbroker formerly employed by Morgan Stanley has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Cutshall (1) converted a customer’s funds (2) improperly utilized customer funds (3) failed to abide by standards of commercial honor and principles of trade and (4) made misrepresentations […]

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Investors Sue Gould Ambroson For Failure To Detect Theft

Jay Allan Ambroson of Garden City New York the president and chief compliance officer of Gould Ambroson Associates Ltd. is referenced in a customer initiated investment related arbitration claim where the customer requested $970,000.00 in damages supported by allegations that Ambroson was liable for negligent supervision and conversion of the customer’s funds relating to the […]

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Securities America Named In $3.4 Million Ponzi Scheme

August 17, 2018  |   Posted by :   |   Ponzi Scheme, Stockbroker Theft   |   0 Comments

Hector May of New City, New York, a registered representative of Securities America was named in a customer initiated, investment related claim that May stole more than $3.4 million from at least nine of his public customers by misappropriating their assets in a Ponzi-style scheme. May operated a “franchise” branch office of Securities America conducting […]

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UBS Broker Steals $4 Million in Ponzi Scheme

August 17, 2018  |   Posted by :   |   Misappropriation of Funds, Ponzi Scheme, Stockbroker Theft   |   0 Comments

John C. Maccoll a stockbroker registered with UBS Financial Services in Birmingham, Michigan was charged by the United States Securities & Exchange Commision with the theft of over 4 million from his clients. Maccoll purportedly solicited his brokerage customers to invest in a purported private, alternative, hedge-type fund that Maccoll claimed was highly-profitable. The purported fund […]

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Stockbroker Theft Costs Ameriprise $4.5 million

August 17, 2018  |   Posted by :   |   Failure To Supervise, Stockbroker Theft   |   0 Comments

My stockbroker stole my money. Ameriprise Financial Services Inc. will pay $4.5 million to the United States Securities & Exchange Commission to settle charges that it failed to safeguard retail investor assets from theft by its representatives. Ameriprise Financial Services provides brokerage services to customers and advisory clients through a national network of approximately 9,700 […]

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Wells Fargo Fires Broker For Unauthorized Stealing

Derrick Tyrone Robinson of Washington District of Columbia a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been discharged by the firm on December 6, 2017 founded on accusations that Robinson “took possession of a customer’s savings bonds and property without ever obtaining the customer’s permission.” Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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Hazard Siegel Discharges Stockbroker For Selling Away

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

Howard Raymond Utz of Mars Pennsylvania a stockbroker formerly employed by Hazard Siegel Inc. has been discharged by the firm on June 1, 2018 founded on accusations that Utz (1) converted funds belonging to customers (2) engaged in unapproved private securities transactions and (3) failed to notify the firm about his outside business activities. FINRA […]

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Stifel Stockbroker Barred For Stealing

July 16, 2018  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Mitchell Toby Yanow of Boca Raton Florida a stockbroker formerly registered with Stifel Nicolaus Company has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted a Stifel customer’s funds. Letter of Acceptance Waiver and Consent No. 2018058538001 (July 11, 2018). According […]

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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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Wells Fargo Broker Suspended In Theft Investigation

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

Ramon Arturo Herrera of Jersey City New Jersey a stockbroker formerly registered with 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 he declined to provide FINRA information that was requested of him by the regulator. Case No. 2018057425101 […]

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Merrill Lynch Broker Barred In Theft Investigation

Shakela Yashica Carter of Fort Lauderdale 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 according to an Office of Hearing Officers Default Decision containing findings that Carter obstructed a FINRA investigation into accusations that she […]

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Capitol Securities Stockbroker Caught Stealing

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

Troy Christopher Baldridge of Richmond Virginia a stockbroker formerly employed by Capitol Securities Management Inc. has been barred by Securities and Exchange Commission (SEC) from associating with any investment adviser or broker in any capacity according to an Order Instituting Administrative Proceedings containing findings that Baldridge misappropriated customer funds. In the Matter of Troy C. […]

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CoreCap Investments Sued For Stockbroker Theft

June 30, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Holly Marie Maurer of Southfield Michigan a stockbroker formerly registered with CoreCap Investments Inc. is the subject of a customer initiated investment related arbitration claim in which the customer requested $222,000.00 in damages founded on accusations that Maurer participated in a scheme involving the theft of the customer’s funds. Financial Industry Regulatory Authority (FINRA) Arbitration […]

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Morgan Stanley Fined $3.6 Million In Stockbroker Theft Case

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

Barry F. Connell a Morgan Stanley stockbroker from Ridgewood, New Jersey “allegedly” stole or misappropriated approximately $7 million from several his clients in more than 110 transactions. Connell was charged by the SEC in February 2017, has been criminally charged by the U.S. Attorney’s Office for the Southern District of New York. These charges remain […]

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FINRA Bars Broker In Theft Investigation

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

Christopher Guocthai Nguyen of Fort Worth Texas a stockbroker formerly registered with TD Ameritrade Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that he failed to provide information to FINRA concerning his activities. Case No. 2017055956001 (Apr. 12, 2018). FINRA Public Disclosure reveals […]

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HSBC Broker Accused Of Stealing

June 21, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Brian A. Hazan of New York New York a stockbroker formerly employed by HSBC Securities (USA) Inc. is referenced in a customer initiated investment related written complaint on February 11, 2018 where the customer alleged that the customer’s investment funds had been misappropriated. FINRA Public Disclosure additionally confirms that on May 22, 2008, a customer […]

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LPL Stockbroker Barred For Stealing

June 21, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Bradley Everett Gardner of Fort Bragg California a stockbroker formerly employed by 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 he converted a customer’s funds. Letter of Acceptance Waiver and Consent No. 2017055975701 (June 4, 2018). According to […]

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FINRA Bars US Bancorp Stockbroker For Stealing

John Douglas Wade of Fullerton California a stockbroker formerly registered with U.S. Bancorp Investments Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted a U.S. Bancorp customers’ funds. Letter of Acceptance Waiver and Consent No. 2018058354101 (June 4, 2018). […]

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Merrill Lynch Sued For Stockbroker Theft

June 21, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Archibald Adam Walker of Great Neck New York a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related civil action in which the customer requested compensatory damages founded on accusations that Walker converted a customer’s funds in the course of effecting a real estate transaction. […]

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Wells Fargo Broker Barred In Theft Investigation

Marcus Duane Parker of Santa Fe New Mexico a stockbroker formerly employed by Wells Fargo Clearing Services 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 in an investigation into allegations that he misappropriated funds […]

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JP Morgan Broker Barred In Theft Investigation

June 12, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Leona Lynn Parsons of Imperial Beach California 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 she failed to cooperate with FINRA personnel in an investigation into Parsons’ alleged unauthorized withdrawals from a […]

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FINRA Investigates Lombard Stockbroker For Conversion

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

John William Cutshall of Baltimore Maryland a stockbroker currently registered with Lombard Securities Incorporated is subject of a Financial Industry Regulatory Authority (FINRA) Investigation in which FINRA recommended that a disciplinary action be brought against Cutshall for (1) converting a customer’s funds (2) failing to make required disclosures to Cutshall’s employing firms in reference to […]

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Pruco Stockbroker Barred By FINRA For Conversion

May 17, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Vaughn Lee Andrews-McKay of Shelton Connecticut a stockbroker formerly employed by Pruco Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on consenting to findings that Andrews-McKay converted a customer’s funds. Letter of Acceptance Waiver and Consent No. 2018058343001 (May 8, 2018). According to the […]

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Oppenheimer Sued By Customer For Theft

May 17, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Gavin Thomas Natelli of Florham Park New Jersey stockbroker currently employed by Oppenheimer Co. Inc. has been named in a customer initiated investment related civil action on March 26, 2018 where the customer sought $238,468.99 in damages founded on accusations that the customer’s investment funds had been converted. Civil Action No. MRS-L-548-18 (Mar. 26, 2018). […]

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FINRA Bars Voya Stockbroker For Obstructing Investigation

May 17, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

James Edward Knee of Concord New Hampshire a stockbroker formerly registered with Voya Financial Advisors, 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 misappropriation of customer funds. Letter of Acceptance, Waiver […]

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Signator Stockbroker Barred By FINRA

May 17, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Brian Patrick Murphy of Yardley Pennsylvania 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 accusations that he failed to respond to a request from FINRA concerning Murphy’s business activities. Case No. 2016050677201 (Jan. 30, 2017). Murphy was […]

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FINRA Bars Rothschild Lieberman Broker For Conversion

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

James Luis Fonseca of Rothschild Lieberman LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted a customer’s funds and then failed to cooperate with FINRA in an investigation into his activities. Letter of Acceptance Waiver and Consent No. 2015048041101 […]

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Securities America Stockbroker Terminated For Misappropriation

Hector Anthony May of New City New York a stockbroker formerly registered with Securities America Inc. has been terminated on March 9, 2018 based upon allegations that May misappropriated assets belonging to one of the firm’s customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure further confirms that on March 8, 2018, May became subject of […]

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OneAmerica Stockbroker Barred By FINRA For Conversion

Domingo Gonzalez of Chesapeake Virginia is a stockbroker formerly registered with OneAmerica Securities Inc. who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted a customer’s investment funds. Letter of Acceptance Waiver and Consent No. 2017056563301 (Apr. 9, 2018). According […]

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FINRA Bars LPL Stockbroker For Conversion

Laura Ortega Shean of Medford Oregon is a stockbroker formerly registered with LPL Financial LLC who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that she converted a customer’s funds. Letter of Acceptance Waiver and Consent, No. 2017056236901 (Apr. 3, 2018). According to […]

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JP Morgan Broker Barred By FINRA For Failure To Respond

April 05, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Samuel David Campos of Dallas Texas is a stockbroker formerly registered with J.P. Morgan Securities LLC who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that Campos neglected to respond to FINRA personnel’s request for Campos’ information. FINRA Case No. 2016050778401 (Aug. 25, 2016). […]

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FINRA Bars Wells Fargo Broker For Conversion

March 22, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

David Jeremy Welty of Norristown Pennsylvania is a former Wells Fargo Clearing Services LLC stockbroker who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted customer funds. Letter of Acceptance Waiver and Consent No. 2016052638401 (Jan. 19, 2017). According to […]

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Wells Fargo Stockbroker Fired For Cause

March 12, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Paul Mark Zoch of Fort Lauderdale Florida is a stockbroker formerly registered with Wells Fargo Advisors who was fired on August 29 2017 based upon allegations that Zoch engaged in improper activities affecting a customer account relationship which ultimately caused the firm to no longer maintain confidence in Zoch’s abilities to comply with the firm’s […]

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FINRA Charges Wells Fargo Broker With Obstruction

March 11, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Dallas York of Scottsdale Arizona is a stockbroker formerly registered with Wells Fargo Clearing Services LLC who has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that York failed to cooperate in a FINRA investigation into allegations of York’s “unauthorized withdrawals” from a customer’s account. Department of Enforcement […]

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Regulator Accuses LPL Stockbroker Of Misappropriation

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

Laura Ortega Shean of Medford Oregon is a stockbroker formerly associated with LPL Financial LLC who is the subject of an Oregon Division of Financial Regulation Notice Order stating that sanctions have been sought against her by the Division based upon accusations that she misappropriated customer funds and effected transactions that were not authorized. Case […]

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Lincoln Financial Broker Barred By FINRA For Conversion

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

Jimmy Moscoso of Boca Raton Florida is a stockbroker formerly employed with Lincoln Financial Advisors Corporation who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted the funds of a customer. Letter of Acceptance Waiver and Consent No. 2018057246701 (Feb. […]

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Morgan Stanley Accused Of Unauthorized Trading

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

Eugene Nathan Gordon of Palo Alto California is a stockbroker currently associated with Morgan Stanley who is the subject of a customer initiated investment related written complaint on October 27 2017 in which the customer sought one million nine hundred thirty-eight thousand one hundred eighty-eight dollars in damages based upon accusations that Gordon placed trades […]

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Merrill Lynch Fires Stockbroker For Alleged Theft

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

Christopher Lee Hibbard of Louisville Kentucky is a stockbroker formerly registered with Merrill Lynch Pierce Fenner and Smith Incorporated who has been fired on January 8 2018 supported by accusations that Hibbard engaged in conduct pertaining to the theft of funds and executed unauthorized transactions regarding money market and variable annuities. Financial Industry Regulatory Authority […]

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AXA Advisors Sued By Customer For Misappropriation

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

Joel D. Kettler of Woodland Hills California is a stockbroker formerly registered with AXA Advisors LLC who is the subject of a customer initiated investment related civil action brought in the Superior Court of the State of California which settled for three hundred seventy-five thousand dollars in damages founded on accusations that the customer’s banking […]

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FINRA Bars Wells Fargo Stockbroker For Conversion

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

Jeffrey Howard Palish of Paramus New Jersey is a stockbroker formerly registered with Wells Fargo Clearing Services who has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he converted funds from a customer of the firm. Letter of Acceptance Waiver and […]

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FINRA Bars IFS Stockbroker For Fraudulent Omissions

February 20, 2018  |   Posted by :   |   Selling Away, Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Francis Joseph Gendlek of East Brunswick New Jersey is a stockbroker formerly registered with IFS Securities who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made fraudulent omissions and misrepresentations relating to his private securities transactions. Letter of Acceptance Waiver and […]

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Investors Capital Stockbroker Barred For Fraud

January 26, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Patricia S. Miller, of McMurray, Pennsylvania, a stockbroker formerly employed with Investors Capital Corp., has been barred from associating with an investment advisory or brokerage firm in any capacity according to a Securities and Exchange Commission (SEC) Order containing findings that Miller committed securities fraud. In the Matter of Patricia S. Miller, Administrative Proceeding File […]

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Wells Fargo Stockbroker Barred For Conversion

January 26, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Jeffrey E. Krupnick, of Sarasota, Florida, a stockbroker formerly employed with Wells Fargo, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Extended Hearing Panel Decision containing findings that Krupnick converted a customer’s funds. Department of Enforcement v. Jeffrey E. Krupnick, Disciplinary Proceeding No. 2014043869901 […]

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SEC Bars Oppenheimer Broker For Fraud

January 10, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

William D. Bucci of King of Prussia, a stockbroker formerly registered with Oppenheimer & Co., Inc., has been barred from the securities industry by the Securities and Exchange Commission (SEC) according to an Initial Decision Making Findings and Imposing Sanction by Default containing findings that Bucci, inter alia, had been convicted of securities fraud in violation […]

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NYLife Broker Suspended For Obstructing Investigation

January 09, 2018  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Tyrone Pang of San Jose, California, a stockbroker registered with NYLife 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 cooperate in a FINRA investigation into accusations of his improper customer account transactions. Letter of Acceptance, Waiver and […]

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