Stockbroker Fraud News

Archive | Stockbroker Fraud News

Merrill Lynch Pays Back Unapproved Loan to Customer

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

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FINRA Bars Ameritas Stockbroker In Selling Away Investigation

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

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

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Investors Sue IBN Over Alternative Investments

Anthony Diaz of Scotrun Pennsylvania a stockbroker formerly registered with IBN Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought unspecified damages founded on allegations that the customer had been placed into unsuitable investments including (1) real estate security (2) promissory note (3) oil and gas […]

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FINRA Suspends Sigma Stockbroker For Unauthorized Trading

June 11, 2019  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unauthorized Trading   |   0 Comments

Curtis Roy Ile of Mt. Carmel Indiana a stockbroker formerly employed by Sigma Financial Corporation has been suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Ile’s consent to findings that (1) Ile exercised discretion in customer accounts without having written authorization from either the […]

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Cambridge Investment Research Sued For Stockbroker Theft

Francesco Puccio of Pittsford New York a stockbroker formerly employed by Cambridge Investment Research Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $130,000.00 in damages based upon allegations that (1) Puccio placed the customer in annuities and life insurance products that were not suitable for the customer […]

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Investors Sue Legend Securities For Churning

Christopher Frederic Veale (also known as Chris Veale) of New York New York a stockbroker formerly registered with Legend Securities Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $150,000.00 in compensatory and punitive damages supported by accusations that (1) Veale churned the customer’s investment account (2) Veale charged […]

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Morgan Stanley Stockbroker Admits To Unauthorized Trading

June 11, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

David John Strnad of Franklin Tennessee a stockbroker formerly registered with Morgan Stanley has been suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Strnad effected unauthorized sales and purchases of certificate of deposits in an account owned by a customer of Morgan […]

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Investors Sue Triad Advisors For Fraud

Liam Gerard O’Keeffe of Danbury Connecticut a stockbroker formerly registered with Triad Advisors is referenced in a customer initiated investment related arbitration claim which was settled for $65,000.00 in damages supported by accusations that between 2001 and 2016: (1) bad investment recommendations were made to the customer and (2) misrepresentations had been made concerning the […]

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NYLife Accused By Investors Of Misrepresentation

John Joseph Rocco Jr. of Wakefield Massachusetts a stockbroker formerly employed by NYLife Securities LLC is the subject of a customer initiated complaint which was resolved on April 25, 2019 for $190,000.00 founded on allegations that (1) misrepresentations had been made by Rocco in regard to mutual fund and insurance products sold to the customer […]

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Sagepoint Stockbroker Barred In Investigation

June 11, 2019  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Alberto Sanchez of Fort Lauderdale Florida a stockbroker formerly registered with Sagepoint Financial Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Sanchez’s consent to findings that Sanchez obstructed a FINRA investigation into accusations of Sanchez having engaged in outside business activities that were seemingly […]

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Investors Sue LPL Financial For Unauthorized Trading

Charles Caleb Fackrell of Yadkinville North Carolina a stockbroker formerly employed by LPL Financial LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought compensatory damages founded on accusations that (1) penny stock and equities trades were placed in the customer’s account by Fackrell even though Fackrell lacked […]

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FINRA Bars First Allied Stockbroker For Ignoring Inquiry

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

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Investors Sue Woodstock Financial For Securities Fraud

Barry Michael Kiront of Garden City New York a stockbroker formerly registered with Woodstock Financial Group Inc. is referenced in a customer initiated investment related arbitration claim in which the customer requested $699,000.00 in damages supported by allegations that (1) the customer’s investment transactions were executed in a negligent fashion (2) the customer’s contract with […]

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FINRA Bars LPL Stockbroker For Dodging FINRA Investigation

June 09, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Jason Reed Nelson of Tremonton Utah a stockbroker formerly registered with LPL Financial LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Nelson’s consent to findings that Nelson hindered a FINRA investigation concerning Nelson’s alleged misrepresentation of LPL Financial LLC customers’ financial information relating to […]

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Moloney Securities Sued By Investors For Fraud

Thomas G. Gresham (also known as Tom Gresham) of Overland Park Kansas a stockbroker currently registered with Moloney Securities Co. Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $495,000.00 in damages founded on accusations that (1) Moloney Securities Co. and UBS Financial Services Inc. collectively failed to […]

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Investors Sue Windsor Street For Unsuitable Investment Advice

Ibrahim Ethem Kurtulus of New York New York a stockbroker formerly registered with Windsor Street Capital LP is referenced in a customer initiated investment related arbitration claim which was settled for $14,999.99 in damages based upon allegations that Kurtulus gave the customer bad advice concerning stocks that were placed in the customer’s investment account while […]

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Morgan Stanley Stockbroker Sanctioned By FINRA For Providing Unsuitable Investment Advice

Ronald Ray Willoughby Jr. (also known as Ron Willoughby) of Tempe Arizona a stockbroker formerly registered with Morgan Stanley has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations of Willoughby making bad short-term unit investment trades in accounts of […]

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Stifel Nicholas Sued By Investors For Churning

Charles John Obryant III of Raleigh North Carolina a stockbroker formerly registered with Stifel Nicholas Co. Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $330,000.00 in damages founded on accusations that (1) stock trades effected in the customer’s account failed to be suitable for the customer given […]

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Investors Sue Janney Montgomery Scott For Unsuitable Investment Advice

Christopher David Sinkula of Stuart Florida a stockbroker currently employed by Janney Montgomery Scott LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $40,000.00 based upon allegations that the customer was placed in common or preferred stock by Sinkula when those investments were inappropriate for the customer given the […]

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HD Vest Stockbroker Sanctioned For Unauthorized Trading

Frank H. Kelly of New Cumberland Pennsylvania a stockbroker formerly employed by HD Vest investment Services has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Kelly’s consent to findings that (1) Kelly exercised discretion in customer accounts without obtaining written authorization and (2) […]

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Forest Securities Fires Stockbroker For Misrepresentation

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

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Global Strategic Investments Sued For Misrepresentation

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

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National Securities Corp Sued By Investor For Negligence

Marc Anthony Arena of Westbury Connecticut a stockbroker formerly employed by National Securities Corporation is referenced in a customer initiated investment related arbitration claim which was settled for $400,000.00 in damages supported by allegations that (1) Arena breached his contractual obligations to the customer (2) Arena negligently transacted in the customer’s account (3) Arena breached […]

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FINRA Suspends Legend Securities Stockbroker For Falsifying Records

Francis Louis Smookler Jr. (also known as Frank Smookler) of Syosset New York a stockbroker formerly registered with Legend Securities Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Smookler falsified Legend Securities’ records and books regarding trades he effected […]

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H. Beck Inc. Sued By Investors For Bad REIT Recommendations

Richard Eric Poston (Rick Eric Poston) of Plano Texas a stockbroker formerly employed by H. Beck Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $25,000.00 in damages supported by accusations that while Poston was associated with H. Beck Inc. (1) Poston gave the customer bad investment advice […]

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FINRA Bars Global Arena Stockbroker For Failure To Pay Arbitration Award

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

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Morgan Stanley Sued In Promissory Note Scheme

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

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FINRA Bars Securities America Stockbroker In Investigation

Michael Anthony Bastardi of Warwick New York a stockbroker formerly employed by Securities America Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Bastardi failed to cooperate with a FINRA investigation into allegations that Bastardi hindered a FINRA investigation concerning accusations that (1) […]

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Centaurus Financial Sued In Alternative Investments Debacle

David Bruce White of Bloomfield Hills Michigan a stockbroker formerly employed by Centaurus Financial Inc. is referenced in a customer initiated investment related arbitration claim which was settled to resolve the customer’s accusations that the customers were placed into an unsuitable oil and gas investment and had been induced to purchase the investment by way […]

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Colorado Sanctions Capital Portfolio Stockbroker

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

Charles Louis Laubach (also known as Chuck Laubach) is the subject of a Stipulation and Consent Order issued by the Colorado Division of Securities in which Laubach’s stockbroker licensure has been revoked based on allegations that Laubach engaged in business with customers in the State of Colorado in violation of Colorado’s licensing protocol during the […]

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UBS Accused By Investors of Churning

William Jeffrey Carlton of Vienna Virginia a stockbroker currently employed by UBS Financial Services Inc. is referenced in a customer initiated investment related complaint which was resolved for $657,998.24 in damages on May 24, 2017 founded on allegations that between January 4, 2016 and February 23, 2017: (1) excessive exchange traded fund trades were executed […]

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SEC Sanctions Alluvion Stockbroker For Stealing

John Sherman Jumper of Memphis Tennessee a stockbroker formerly registered with Alluvion Securities LLC is the subject of a Securities and Exchange Commission (SEC) Order Instituting Administrative Proceedings Pursuant to Securities Exchange Act of 1934 Section 15(b) and Investment Advisers Act Section 203(f) in which SEC is considering barring Jumper from being a securities broker […]

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Investor Sues Buckman Reid For Private Placement Fraud

William Louis Baumner IV of Boca Raton Florida a stockbroker formerly registered with Buckman Buckman Reid Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $10,000.00 in damages based upon allegations that the customer was placed into an unsuitable private placement investment while Baumner was associated with the […]

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Thrivent Stockbroker Barred For Unauthorized Transactions

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

Thomas Leroy Studer of The Villages Florida a stockbroker formerly employed by Thrivent Investment Management Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that Studer failed to cooperate with a FINRA investigation into allegations that Studer violated the firm’s policies and caused unauthorized […]

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Commonwealth Financial Stockbroker Barred In Investigation

Benjamin Frank Bourgeois Jr. (also known as Ben Bourgeois) of Metairie Louisiana a stockbroker formerly registered with Commonwealth Financial Network has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Bourgeois failed to cooperate with a FINRA investigation into accusations that (1) Bourgeois converted funds […]

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FINRA Bars Foresters Stockbroker For Selling Away

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

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

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Morgan Stanley Sued By Investors For Churning

Jeffrey Neil Cadan of New York New York a stockbroker formerly registered with Morgan Stanley is the subject of a customer initiated investment related arbitration claim that settled for $1,200,000.00 in damages supported by accusations that between 2011 and 2016, Cadan executed excessive government debt trades in the customer’s account causing the customers losses. Financial […]

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J.P. Morgan Stockbroker Barred By SEC For Fraud

June 03, 2019  |   Posted by :   |   Ponzi Scheme, Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Michael Jeffrey Oppenheim of New York New York a stockbroker formerly employed by J.P. Morgan Securities LLC has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment advisor or otherwise associating with securities broker dealers or investment advisory firms according to an Order Instituting Administrative Proceedings pursuant to Securities Exchange […]

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Investors Sue WFG For Bad Alternative Investments

Mark Nelson Holloway of Edmond Oklahoma a stockbroker formerly registered with WFG Investments Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $10,000.00 in damages supported by allegations that (1) Holloway made omissions and misrepresentations to the customer concerning oil and gas direct investments and mutual funds and (2) […]

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Wunderlich Stockbroker Barred In Investigation

David K. Mallett of Conway Arizona a stockbroker formerly registered with Wunderlich Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Mallett disregarded a FINRA inquiry possibly concerning Mallett being discharged from Wunderlich Securities Inc. or Mallett being subject of customer initiated […]

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Investor Sues Madison Avenue For Inappropriate REIT Recommendations

James Andrew Geake (also known as Jim Geake) of Skokie Illinois and Schaumburg Illinois a stockbroker currently employed by Madison Avenue Securities LLC is referenced in a customer initiated investment related arbitration claim which was settled for $12,500.00 in damages founded on allegations that the customer suffered unwarranted losses on alternative investments including real estate […]

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FINRA Bars First Standard Stockbroker In Investigation

Gabriel Block (also known as Gabe Block) of Red Bank New Jersey a stockbroker formerly registered with First Standard Financial has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that Block neglected to cooperate with an inquiry FINRA launched into Block’s activities. Case No. 2017052466301 […]

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Windsor Street Capital Expelled By FINRA For Fraud

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

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FINRA Bars American Portfolios Stockbroker In Investigation

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

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Investors Capital Corp Sued By Investors For REIT Misconduct

Donnie Eugene Ingram of Winter Haven Florida a stockbroker associated with Cetera Advisors LLC and Investors Capital Corp. is referenced in a customer initiated investment related arbitration claim which was resolved for $23,000.00 in damages founded on accusations that Ingram executed unsuitable corporate debt and real estate investment trust trades in the customer’s account. Financial […]

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LPL Stockbroker Barred For Selling Away

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

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Investors Sue Voya Financial For Stockbroker Theft

Frederick Eugene Monroe Jr. (also known as Fred Monroe) of Albany New York a stockbroker formerly registered with Voya Financial Advisors Inc. is referenced in a customer initiated investment related civil action brought in the Supreme Court of the State of New York where the customer sought $665,000.00 in damages founded on allegations that Monroe […]

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FINRA Bars PFS Stockbroker In Sales Practices Investigation

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

Arturo Alejandro Nunez of Miami Lakes Florida 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 findings that Nunez failed to cooperate in FINRA’s investigation into allegations of his sales practice violations and unauthorized commission splitting arrangement. Letter […]

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International Assets Accused Of Unsuitable Investment Recommendations

May 23, 2019  |   Posted by :   |   Churning, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Gregory Thormann Pease of Hoboken New Jersey a stockbroker formerly employed by International Assets Advisory LLC is referenced in a customer initiated investment related complaint on April 3, 2019 in which the customer requested unspecified damages supported by accusations that (1) the customer was not provided adequate information from Pease concerning the fees charged on […]

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FINRA Targets Stifel Nicolaus Stockbroker For Selling Away

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

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

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Investors Sue UBS Financial For Misrepresentation

May 23, 2019  |   Posted by :   |   Penny Stock Fraud, Stockbroker Fraud News, Suitability   |   0 Comments

Craig Daniel Price of Stuart Florida a stockbroker formerly registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $20,500.00 in damages supported by allegations that (1) misrepresentations or omissions had been made to the customer by Price concerning Cardero Resources equities held in […]

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SEC Bars “Not So” Bright Trading Stockbroker For Fraud

Stephen Skeffington Eubanks of Las Vegas Nevada a stockbroker formerly employed by Bright Trading LLC has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser or otherwise associating with securities broker dealers or investment advisories according to an Order Instituting Administrative Proceedings Pursuant to Investment Advisers Act of 1940 […]

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Wells Fargo Accused of Unsuitable Mutual Fund Recommendations

Ross Lionel Gordon of Raleigh North Carolina a stockbroker formerly employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint which was resolved for $10,000.00 on April 4, 2016 supported by accusations that between 2015 and 2016, the customer was placed into mutual fund investments that were inappropriate […]

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Investors Sue Popular Securities For Unsuitable Bond Recommendations

Jose R. Juanarena Ferrari of San Juan Puerto Rico a stockbroker formerly registered with Popular Securities LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $125,000.00 in damages based upon accusations that Ferrari made inappropriate investment recommendations to the customer concerning the purchases of closed end funds […]

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Transamerica Stockbroker Fined $1.5 Million For Unauthorized Trading

Tracy Neal Wengert of Mesa Arizona a stockbroker formerly registered with Transamerica Financial Advisors Inc. is referenced in an Order issued by the Arizona Corporation Commission which revoked Wengert’s securities registration and mandated Wengert pay a $25,000.00 fine and $1,522,400.00 in restitution based upon findings including Wengert’s trading of securities in customers’ accounts without written […]

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Investors Sue RBC For Unsuitable Municipal Bond Recommendations

Eugene Henry Freund of New York New York a stockbroker formerly employed by RBC Capital Markets LLC is referenced in a customer initiated investment related arbitration claim which was settled for $157,500.00 in damages founded on allegations that bad municipal debt investment transactions were executed in the customer’s account during the time Freund was associated […]

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Wells Fargo Stockbroker Accused Of Unauthorized Trading

May 23, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Hossein Amirriahei (also known as Amir Amirriahei and as Riahei Amirriahei) of Los Angeles California a stockbroker formerly employed by Wells Fargo Advisors is the subject of a customer initiated investment related written complaint on May 30, 2017 in which the customer requested $150,000.00 in damages based upon allegations that trades had been executed in […]

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FINRA Charges Huntington Stockbroker With Selling Away

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

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TradingBlock Blamed By Investor For Losses

Joshua David Arnold (also known as Josh Arnold) of Edina Minnesota a stockbroker formerly registered with TradingBlock (also known as AOS Inc. and MoneyBlock) is referenced in a customer initiated investment related written complaint which was resolved for $64,500.00 on October 17, 2017 founded on accusations that the customer suffered unwarranted losses on common or […]

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Massachusetts Sanctions Morgan Stanley Stockbroker For Misconduct

Nordo Mauro Nissi of York Maine a stockbroker formerly registered with Morgan Stanley is the subject of a Consent Order issued by the Commonwealth of Massachusetts Securities Division in which Nissi agreed to be placed on heightened supervision as a condition of maintaining an investment adviser representative registration in the Commonwealth because of (1) Nissi […]

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Woodstock Financial Sued By Investors For Fraud

Michel Rene Lavelanet (also known as Michael Rene Lavelanet) of Garden City New York a stockbroker formerly employed by Woodstock Financial Group Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $699,000.00 in damages based upon accusations that (1) the customer’s account was mishandled by Lavelanet (2) contractual obligations […]

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SunTrust Stockbroker Barred In FINRA Investigation

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

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J.W. Korth Sanctioned For Overcharging Customers

J.W. Korth Company a securities broker dealer headquartered in Lansing Michigan has been censured by Financial industry Regulatory Authority (FINRA) according to a National Adjudicatory Council Decision affirming a Hearing Panel’s findings of the firm overcharging customers on municipal and corporate debt securities transactions effected in customers’ accounts. In the matter of Department of Enforcement […]

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Laidlaw Company UK Ltd. Sued By Investors For Churning

Bryan Gabriel Mazliach of Fort Lauderdale Florida a stockbroker formerly employed by Laidlaw Company UK Ltd. is referenced in a customer initiated investment related arbitration claim where the customer sought $66,680.00 in damages founded on allegations that between 2015 and 2017: (1) transactions were executed in the customer’s account that were not suitable for the […]

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Titan Securities Sued By Investors For Selling Unregistered Investments

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

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America Northcoast Stockbroker Barred For Misconduct

Dominic Anthony Tropiano of Cleveland Ohio a stockbroker formerly registered with America Northcoast Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Tropiano executed unauthorized trades in customer accounts (2) Tropiano made unsuitable investment recommendations to the firm’s customers […]

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Investors Accuse Wells Fargo With The Failure To Disclose Fees

Douglas Hart Birnie of Herndon Virginia a stockbroker formerly employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on May 17, 2018 where the customer sought more than $5,000.00 in damages based upon allegations that on January 24, 2018: (1) omissions had been made to the customer […]

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FINRA Bars M Holdings Stockbroker In Theft Investigation

Dean Harrison Grant of Milledgeville Georgia a stockbroker formerly registered with M Holdings Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Grant failed to cooperate with FINRA in an investigation concerning Grant’s conversion of funds from customers of the […]

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Investor Blames Wells Fargo With The Failure to Follow Instructions

Wayne Douglas Rogers of Austin Texas a stockbroker currently employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint which was settled for $11,544.77 on March 8, 2018 based upon allegations that on January 2, 2018, the customer’s investment instructions were not followed concerning the liquidations of an […]

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UBS Stockbroker Suspended For Providing Unsuitable Investment Advice

Steven Paul Cooper of Century City California a stockbroker formerly employed by UBS Financial Services Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that (1) Cooper made bad investment recommendations to customers of the firm and (2) Cooper […]

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J.J. Hillard W.L Lyons Sued For Bad Direct Investments

Daniel J. Kempker of Holland Michigan a stockbroker formerly registered with J.J.B. Hilliard W.L. Lyons LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $200,000.00 in damages founded on accusations that unsuitable direct participation program or limited partnership interest products had been sold to the customer which caused the […]

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Regulators Investigate OneAmerica Stockbroker For Fraud

Zachary Scott Wagner of Gilbert Arizona a stockbroker formerly registered with OneAmerica Securities Inc. is referenced in a Arizona Securities Division investigation on March 26, 2019 founded on accusations that Wagner engaged in violations of the Arizona Investment Management Act and the Arizona Securities Act by (1) soliciting securities sales in the state without Wagner […]

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Investors Sue SII Investments For Fraud In Connection With The Sale Of REITs

Jason Bradley Scarcella of Bartlesville Oklahoma a stockbroker formerly registered with SII Investments Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $35,000.00 in damages supported by accusations that Scarcella made false or misleading statements to the customer concerning the income and safety of real estate investment trust […]

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Merrill Lynch Accused Of Excessive Trading By Investors

Steven Michael Richardson of Walnut Creek California a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. is referenced in a customer initiated investment related written complaint on April 11, 2019 in which the customer requested unspecified damages based upon accusations that between January 1, 2018 and June 7, 2018, excessive exchange traded fund […]

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Allstate Stockbroker Investigated For Theft By FINRA

Jesse Gil III of Corpus Christi Texas a stockbroker currently registered with Allstate Financial Services LLC is the subject of a Financial Industry Regulatory Authority (FINRA) Wells Notice which indicated that FINRA Department of Enforcement should take disciplinary action against Gil supported by accusations that (1) Gil engaged in outside business activities without disclosing them […]

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Investors Accuse Morgan Stanley Unsuitable Bond Recommendations

Bryan Jeffrey Schon of Bloomfield Hills Michigan a stockbroker currently registered with Morgan Stanley is the subject of a customer initiated investment related written complaint on December 11, 2017 in which the customer requested unspecified damages supported by accusations that between 2014 and 2016, energy bond transactions effected in the customer’s account were not suitable […]

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FINRA Sanctions Woodbury Financial For The Failure To Supervise Annuities

May 17, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Woodbury Financial Services Inc. a securities broker dealer headquartered in Oakdale Minnesota has been censured and fined $225,000.00 by Financial Industry Regulatory Authority (FINRA) based upon the firm’s consent to findings that it failed to supervise the suitability of annuities transactions placed in customers’ accounts to ensure that the transactions were complaint with FINRA rules […]

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SEC Bars Concorde Stockbroker For Fraud

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

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Hennion Walsh Sued By Investors For Churning

Mamode Abdullah Oozeerally (also known as Sony Oozeerally) of Parsippany New Jersey a stockbroker currently employed by Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages founded on accusations that (1) unauthorized trades were executed in the customer’s investment account (2) the […]

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Regulators Sanctions Cetera Stockbroker For Selling Away

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

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Investors Sue J.D. Nicholas Associates For Churning

Nicholas George Tsikitas of Melville New York of Syosset New York a stockbroker formerly employed by J.D. Nicholas Associates Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $425,928.00 in damages based upon allegations that in reference to the customer’s options and equities investments: (1) unauthorized transactions were […]

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FINRA Investigates J.D. Darbie Stockbroker For Conversion

Oscar Nunez of New York New York a stockbroker formerly employed by J.H. Darbie Co. Inc. is the subject of a FINRA Investigation in which FINRA determined that disciplinary action should be taken by FINRA Department of Enforcement against Nunez founded on accusations of (1) Nunez taking a loan from a customer (2) Nunez falsifying […]

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Investors Sue Allstate Financial For Failure To Supervise

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

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Wells Fargo Stockbroker Sanctioned For Sale of Unsuitable Investments

Richard Alan Shotz of Daytona Beach Florida a stockbroker formerly employed by Wells Fargo Clearing Services LLC is the subject of an Order issued by the State of Maryland Securities Division revoking Shotz’s securities registration in the state based upon Shotz’s failure to respond to an Order To Show Cause relating to Shotz’s fine and […]

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Investors Accuse AXA Advisors Of Fraud

Anthony Joseph D’Angelo of Los Angeles California a stockbroker currently registered with AXA Advisors LLC is the subject of a customer initiated investment related written complaint on May 4, 2018 where the customer sought $34,186.74 in damages based upon allegations that (1) misrepresentations had been made to the customer by D’Angelo in regard to the […]

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Northwestern Mutual Stockbroker Barred In Theft Investigation

Sampson Pearson Jr. of Charlotte North Carolina a stockbroker formerly registered with Northwestern Mutual Investment Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Pearson declined to cooperate with a FINRA information request. Case No. 2017054269301 (Sept. 22, 2017). According to FINRA Public […]

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SEC Charges Comprehensive Asset Management Stockbroker With Fraud

Tamara Rae Steele of Pendleton Indiana a stockbroker formerly employed by Comprehensive Asset Management and Servicing (now known as APW Capital Inc.) and Chief Operating Officer of Steele Financial has been charged by Securities and Exchange Commission (SEC) in a Complaint alleging that Steele and Steele Financial made fraudulent investment recommendations to investors. Civil Action […]

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Salomon Whitney Sued For Breach Of Fiduciary Duty

Wayne Fitzgerald Ford of Farmingdale New York a stockbroker formerly registered with Salomon Whitney Financial is referenced in a customer initiated investment related arbitration claim which was settled for $17,000.00 in damages based upon accusations that (1) transactions effected in the customer’s account violated Louisiana Securities Act (2) fiduciary duties to the customer had been […]

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SEC Bars Stifel Nicolaus Stockbroker For Fraud

Jon Brett Schmidhammer of Dublin Ohio a stockbroker formerly employed by Stifel Nicolaus Company Inc. has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment adviser representative or otherwise associating with securities broker dealers or investment advisors according to an Order Instituting Administrative Proceedings Pursuant To Securities Exchange Act of […]

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Cambridge Stockbroker Barred By FINRA For Conversion

Anselmo Contreras Jr. of Angleton Texas a stockbroker formerly employed by Cambridge Investment Research has been barred from associating with any Financial industry Regulatory Authority (FINRA) member in any capacity based upon findings that Contreras converted a customer’s funds while he was associated with Cambridge Investment Research. Letter of Acceptance, Waiver and Consent No. 2018057254501 […]

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Wells Fargo Blamed For Disregarding Investor Instructions

May 08, 2019  |   Posted by :   |   Mutual Fund Fraud, Stockbroker Fraud News   |   0 Comments

Kery Shane Hutner of Chagrin Falls Ohio a stockbroker registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on June 11, 2018 where the customer sought damages estimated to exceed $5,000.00 based upon accusations that between October 23, 2012 and May 24, 2018, the customer’s funds were […]

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Investor Sues Newbridge For Unauthorized Trading

May 08, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Steven Scott Baldassarra of Coral Springs Florida a stockbroker formerly registered with Newbridge Securities Corporation is the subject of a customer initiated investment related arbitration claim in which the customer requested $150,000.00 in damages based upon allegations that (1) options and stock transactions were executed on margin without the customer’s permission and (2) trades effected […]

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H. Beck Sued By Investor For Bad Investment Advice

James Henry Dresselaers of Bethesda Maryland a stockbroker formerly registered with H. Beck Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought $255,000.00 in damages founded on allegations that (1) Dresselaers made omissions to the customer concerning the risks of exchange traded funds and (2) Dresselaers gave the customer […]

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Investors Sue Santander For Breach Of Fiduciary Duty

Hortensia Llavat Tilen of San Juan Puerto Rico a stockbroker formerly employed by Santander Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $3,000,000.00 in damages supported by accusations that (1) the firm failed to supervise Tilen’s closed-end funds and municipal debt transactions in the customer’s account […]

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Morgan Stanley Fires Stockbroker For Trading Practices

Henry Grinberg of Aventura Florida a stockbroker formerly employed by Morgan Stanley has been terminated from the firm on June 8, 2018 while under investigation of Grinberg’s suspicious activities concerning trades placed in customer accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that Grinberg is referenced in three customer initiated investment related disputes […]

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PFS Sued For Stockbroker’s Sale of Outside Investments

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

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Southern Trust Stockbroker Sanctioned For Unregistered Solicitation

May 08, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Frank Corrado Trombatore of Miami Florida a stockbroker currently employed by Southern Trust Securities Inc. is the subject of a Notice and Order to Cease and Desist issued by the State of Michigan Department of Licensing and Regulatory Affairs Corporations Securities and Commercial Licensing Bureau based on allegations that Trombatore solicited a securities transaction from […]

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Investor Sues Lantern Investments For Churning

Judith Sally Levine of Adventura Florida a stockbroker currently employed by Lantern Investments Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $32,500.00 in damages supported by allegations that between September of 2012 and November of 2016: (1) the customer’s account was handled in a negligent manner (2) […]

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Regulator Sanctions Moors Cabot Stockbroker For Suitability

Phillip Robert Cheney Jr. of Norwell Massachusetts a stockbroker currently registered with Moors Cabot Inc. has been sanctioned by the State of Massachusetts Securities Division based upon findings that Cheney has been subject of customer disputes and has been terminated from at least one securities broker dealer founded on accusations of Cheney’s unsuitable investment transactions […]

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GF Investment Services Accused Of Selling Unregistered Securities

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

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