Tag Archives: NYLIFE Securities LLC

NYLife Stockbroker Convicted Of Wire Fraud

Jonathan Spencer Williams of Timonium Maryland a stockbroker formerly employed by NYLife Securities pled guilty to one count of felony wire fraud (18. U.S.C. § 1343) as part of a scheme which caused customers of NYLife Securities to incur approximately $2,800,000.00 in losses. Criminal Action No. 1:18cr183 (D. Md. Apr. 29, 2019). Evidently, customers were […]

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Investors Sue NYLife For Insurance Misconduct

August 02, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Lawrence James Rizer of Boardman Ohio a stockbroker formerly registered with NYLife Securities LLC is the subject of a customer initiated investment related civil action brought in the Jefferson County Ohio State Court which was resolved for $65,000.00 based upon accusations that (1) the customers had been sold life insurance policies which lapsed despite 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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NYLife Broker Sanctioned For Unauthorized Transactions

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

Nathan Michael Badowski of Timonium Maryland a stockbroker formerly registered with NYLife Securities LLC is the subject of an Order issued by the Commonwealth of Virginia State Corporation Commission which revoked Badowski’s agent registration in the Commonwealth based upon accusations that Badowski engaged in business as an insurance company’s agent even though Badowski lacked any […]

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FINRA Bars NYLife Securities Broker In Investigation

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

Judith Adele Johnston of Frisco Texas a stockbroker formerly employed by NYLife Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Johnston failed to cooperate with FINRA personnel in the course of an investigation into the complaints lodged against her from customers […]

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NYLife Blamed By Investors For Breach Of Fiduciary Duty

John Thomas Alexander III of Charlotte North Carolina a broker formerly registered with NYLife Securities LLC is referenced in a customer initiated investment related written complaint which settled for $93,052.21 on October 18, 2017 supported by accusations that (1) the customer had been provided poor advice concerning the insurance, mutual fund and annuity products purchased […]

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NYLife Accused Of Annuity Fraud

March 04, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Christopher Tucciariello of New Windsor New York a stockbroker currently employed by NYLife Securities LLC is the subject of a customer initiated investment related written complaint which was settled for $15,000.00 on October 8, 2018 based upon accusations that misrepresentations had been made to the customer by Tucciariello with regard to the surrender fees paid […]

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Regulator Fines NYLife Broker For Outside Business Activities

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

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NYLife Broker Barred In FINRA Inquiry

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

Douglas Anthony Rabess of New Windsor Connecticut a stockbroker formerly registered with NYLife Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Rabess failed to comply with FINRA’s inquiries about his activities. Case No. 2016050595002 (Sept. 5, 2017). According to FINRA Public […]

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NYLife Broker Barred In Customer Loan Investigation

December 13, 2018  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Michael Andrew Norman of Reno Nevada a former NYLife Securities LLC registered representative has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Norman failed to cooperate with FINRA in an investigation into allegations of him engaging in an unapproved customer loan arrangement. […]

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Investors Accuses NYLife Of Unauthorized Annuity Purchases

William Andrew Doran of Johnston South Carolina a stockbroker currently registered with NYLife Securities LLC is referenced in a customer initiated investment related written complaint which settled for $15,916.72 on June 29, 2017 based upon allegations that Doran forged the customers’ signatures on variable annuity and insurance documents to effect multiple policy purchases between June […]

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NYLife Broker Barred For Disregarding FINRA Requests

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

Kristopher A. Galicia Rodriguez of New Windsor New York a stockbroker formerly registered with NYLife Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he failed to provide information to FINRA that had been requested from him. Case No. 2017053367801 (Aug. 7, […]

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NYLife Broker Suspended For Mutual Fund Misconduct

November 12, 2018  |   Posted by :   |   Mutual Fund Fraud, Stockbroker Fraud News   |   0 Comments

David Raymond Colflesh of Tarko Missouri a stockbroker formerly employed by NYLife Securities LLC has been suspended for eighteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unsuitable mutual fund investment recommendations to customers. Letter of Acceptance Waiver and Consent No. […]

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FINRA Bars NYLife Securities Broker In Investigation

November 03, 2018  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Richard Michael Jones of Pilot Mound Iowa a stockbroker formerly employed by NYLife Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Jones failed to comply with FINRA’s request for his information. Case No. 2016052252801 (June 23, 2017). FINRA Public Disclosure reveals […]

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NYLife Securities Accused Of Bad Insurance Sales

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

Christina Sevilla Camiling of Glendale California a stockbroker currently registered with NYLife Securities LLC is the subject of a customer initiated investment related written complaint which settled for $63,807.56 on December 12, 2017 founded on allegations that the customer was inappropriately placed in variable universal life insurance products and a variable annuity. Financial Industry Regulatory […]

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NYLife Broker Suspended By FINRA For Settling Complaint

October 22, 2018  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Jose Luis Paula of Tampa Florida a former NYLife Securities LLC registered representative has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he attempted to settle a customer’s complaint away from New York Life. According to the AWC, Paula […]

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Investors Accuse NYLife Of Annuity Misrepresentation

Gail Ann Kincannon of Austin Texas a stockbroker formerly registered with NYLife Securities LLC is referenced in a customer initiated investment related written complaint on July 30, 2018 in which the customer requested $39,388.32 in damages supported by accusations that Kincannon had misrepresented the holding period and fees pertaining to a variable annuity purchased by […]

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NYLife Securities Suspends Broker For Failure To Respond

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

Scott Alfredo Miozzi of New Windsor New York a stockbroker formerly registered with NYLife Securities LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that he failed to provide a response to FINRA’s request for his information. Case No. 2018058244001 (Aug. 23, 2018). FINRA […]

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NYLife Broker Charged With Outside Business Activities

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

Partho Sarathi Ghosh of New York New York a stockbroker formerly registered with NYLife Securities LLC has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Ghosh participated in an undisclosed outside business activity involving his marketing of finance solutions to prospective customers. Department of Enforcement v. Partho […]

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NYLife Broker Barred By FINRA For Failure To Cooperate

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

Daniel Patrick Mullan of Melville New York a stockbroker formerly employed by NYLife Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he failed to furnish information to FINRA concerning his sales practices. Case No. 2016048799901 (Sept. 18, 2017). FINRA Public Disclosure […]

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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 NYLife Broker For Ignoring Regulator

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

Brett Michael Williams of Tifton Georgia a former NYLife Securities registered representative has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Williams failed to report information to FINRA after it was formally requested from him. Case No. 2017056053701 (Apr. 12, 2018). FINRA Public Disclosure […]

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NYLife Accused By Investors Of Selling Bad Investments

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

Richard A. Kruithoff of Las Vegas Nevada a stockbroker formerly registered with NYLife Securities LLC is referenced in a customer initiated investment related written complaint which settled for $113,434.00 on October 20, 2017 founded on accusations that the customers were inappropriately placed into variable universal life insurance policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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FINRA Suspends Sugick For Side Job

August 13, 2018  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Jon Lewis Sugick of Detroit Michigan a stockbroker formerly registered with NYLife Securities LLC has been fined $5,000.00 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 engaged in undisclosed outside business activities while associated with NYLife. Letter of […]

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NYLife Securities Broker Terminated Forgery

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

Mark Perlman of Stratford Connecticut a former registered representative of NYLife Securities LLC has been terminated by the firm on November 21, 2017 based upon accusations that he committed a violation of NYLife’s policy by “failing to acquire authentic signatures of customers” on traditional life insurance policy documentation. Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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Customer Accuses NYLife Of Annuity Misconduct

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

David Michael Webb of San Antonio Texas a stockbroker currently registered with NYLife Securities LLC is the subject of a customer initiated investment related written complaint which settled on June 8, 2018 to resolve allegations that the customer was advised to utilize the customer’s American Equities funds for the purchase of a variable annuity that […]

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NYLife Securities Broker Fired For Selling Away

July 12, 2018  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Joel Vincent Flaningan of Fort Wayne Indiana a stockbroker formerly registered with NYLife Securities LLC has been discharged by the firm on May 10, 2018 based upon allegations that Flaningan took part in the solicitation of Woodbridge Mortgage Investment Fund (an unregistered entity that went bankrupt) without notifying and procuring approval from NYLife Securities LLC. […]

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NYLife Sued Annuity Fraud

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

Weisheng Wang (also known as Weisheng Wilson) of Warren New Jersey a stockbroker formerly registered with NYLife Securities LLC is the subject of a customer initiated investment related arbitration claim in which the customer sought $1,132,800.00 in damages founded on allegations that the customer was induced to purchase a variable life insurance policy based on […]

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Customer Accuses NYLife Of Unsuitable Recommendations

March 16, 2018  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Kristopher Chesley Whitney of San Antonio Texas is a stockbroker formerly registered with NYLife Securities LLC who is the subject of a customer initiated investment related written complaint, which settled on April 1, 2016 for $18,699.81 in damages founded on allegations that Whitney made unsuitable investment recommendations to the customer concerning a variable annuity. Financial […]

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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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NYLife Securities Sued For Suitability

July 29, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Michael Vito Gisonda, of Boca Raton, Florida, a stockbroker currently registered with NYLife Securities LLC, is the subject of a customer initiated investment related arbitration claim on May 3, 2017, in which the customer requested $1,600,000.00 in damages based upon allegations that Gisonda effected unsuitable transactions in the customer’s account concerning managed account products as […]

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NYLife Securities Broker Fired For Misappropriation

Lawrence James Rizer, of Columbiana, Ohio, a stockbroker formerly registered with NYLife Securities, LLC, has been terminated from employment on April 6, 2017, based upon allegations that he misappropriated funds belonging to the National Association of Insurance and Financial Advisors. Rizer purportedly took the funds for personal gain during the time he was the local […]

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Customer Files Arbitration Claim Against NYLife Securities

May 18, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jonathan Spencer Williams, of Timonium, Maryland, a stockbroker formerly registered with NYLife Securities LLC, has been named in a customer initiated investment related written complaint on February 6, 2017, in which the customer requested $37,901.22 in damages based upon allegations that Williams effected transactions in the customer’s account that may not have been authorized. Financial […]

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NYLife Securities Stockbroker Barred In Investigation

May 18, 2017  |   Posted by :   |   Mutual Fund Fraud, Stockbroker Fraud News   |   0 Comments

Jonathan M. Lo, of New York, New York, a stockbroker formerly registered with NYLife Securities LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with a FINRA investigation into allegations that he effected unsuitable exchanges of […]

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NYLife Securities Customer Alleges Unsuitability

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

Anna Chin, of Austin, Texas, a registered representative formerly associated with NYLife Securities LLC, has been named in a customer initiated investment related written complaint on March 1, 2017, based upon allegations that Chin recommended that the customer purchase a variable universal life insurance policy in addition to fixed annuities, despite the products having failed […]

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NYLife Securities Sued By Customer For Misrepresentation

March 16, 2017  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Dustin Tylor Aiguier, of South Yarmouth, Massachusetts, a stockbroker formerly registered with NYLife Securities LLC, has been named in a customer initiated investment related arbitration claim, which settled on December 29, 2015, for $40,229.37 in damages based upon allegations that Aiguier made omissions of facts concerning a variable annuity investment. The customer alleged that her […]

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NYLife Securities Broker Charged With Fraud

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

Cecil E. Nivens, of Gastonia, North Carolina, a registered representative formerly associated with NYLife Securities, LLC, was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Nivens failed to execute upon customers’ investment instructions, and furnished documentation to customers containing false and misrepresented information. Department of Enforcement v. Cecil […]

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NYLife Securities Stockbroker Barred For Conversion

December 24, 2016  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Marc Donald Bushey, of Bridgewater, Massachusetts, a stockbroker formerly registered with NYLife Securities LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he converted customer funds. Letter of Acceptance, Waiver and Consent, No. 2016051803901 (Dec. 13, 2016). According to the AWC, customer […]

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NYLife Securities Registered Representative Barred In Investigation

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

Cynthia Bolker, of San Diego, California, a stockbroker formerly registered with NYLife Securities LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that Bolker engaged in unauthorized borrowing arrangements with customers, and falsified statements to her firm and FINRA concerning such. Letter […]

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NYLife Securities Registered Representative Barred In Investigation

October 15, 2016  |   Posted by :   |   Annuity Schemes, Stock manipulation, Stockbroker Fraud   |   0 Comments

Amr Mostafa Aboulmagd, of Horsham, Pennsylvania, a registered representative for NYLife Securities LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations that he made unsuitable recommendations and misrepresentations to customers. Letter of Acceptance, Waiver […]

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NYLife Securities, the Stockbroker that Sneaked

October 11, 2016  |   Posted by :   |   Embezzlement, Stockbroker Fraud News   |   0 Comments

John P. Mosley, of Westbrook, Maine, a stockbroker with NYLife Securities LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after he consented to findings that he converted customer funds. Letter of Acceptance, Waiver and Consent, No. 2016051400601 (Sept. 30, 2016). According to the AWC, while Mosley […]

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NYLIFE Securities Broker Barred for Forgery

Michael Roger Griffith of Timonium, Maryland, a stockbroker with NYLIFE Securities LLC, was barred from association with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he had submitted fictitious applications for life insurance and forged customer signatures without authorization. Letter of Acceptance, Waiver and Consent, No. 2015046129301 (Jan. […]

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