Tag Archives: Wells Fargo Advisors LLC

Wells Fargo Sued By Investors For Bad Fixed Income Advice

Michael Jay Sharenow of Florham Park New Jersey a stockbroker formerly registered with Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim which was settled for $150,000.00 in damages founded on allegations that Sharenow placed the customer in bad municipal debt investments including municipal bonds. Financial Industry Regulatory Authority (FINRA) […]

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Investors Sue Wells Fargo Advisors For Bad Investment Advice

Matthew Christopher Maczko of Oak Brook Illinois a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim in which the customer requested damages estimated to exceed $500,000.00 in damages founded on accusations that Maczko gave the customer bad investment recommendations concerning the securities held in the […]

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Investors Sue Wells Fargo For Unauthorized Trading

Robert Thomas Tuffy of East Brunswick New Jersey a stockbroker formerly registered with Wells Fargo Advisors is the subject of a customer initiated investment related arbitration claim which was resolved for $27,500.00 in damages based upon allegations that (1) Tuffy effected unauthorized trades in the customer’s brokerage account (2) Tuffy disregarded the customer’s objectives for […]

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Investors Sue Wells Fargo Over Bad Foreign Investments

John William Hoekman of New York New York a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim which was settled for $390,000.00 in damages founded on accusations that (1) omissions had been made to the customer during a time that the customer was steered by […]

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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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Investors Accuse Wells Fargo Of Stock Fraud

Apostolos Nicholas Papadea of Columbia South Carolina a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related written complaint which was settled for $24,000.00 on January 17, 2017 based upon allegations of (1) omissions and misrepresentations being made to the customer concerning the risks of mutual funds […]

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Wells Fargo Sued By Investor For Misrepresentation

Ghalib Abdulla Kanji of Woodland Hills California a stockbroker formerly employed by Wells Fargo Advisors LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $2,000,000.00 in damages founded on allegations that (1) investment recommendations made to the customer were not suitable and (2) misrepresentations had been made to […]

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Wells Fargo Advisors Broker Barred By SEC For Fraud

Barbara Ann Endres of Grand Junction Colorado a stockbroker formerly registered with Wells Fargo Advisors LLC and investment adviser representative of Lifetime Wealth Advisors LLC has been barred by Securities and Exchange Commission (SEC) in all capacities according to an Order Instituting Administrative Proceedings Pursuant to Investment Advisers Act of 1940 Section 203(f) containing findings […]

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Wells Fargo Pays Investors In Fraud Claim

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

Herbert Charles Buchbinder of Mission Woods Kansas a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related written complaint which was resolved on October 25, 2016 for $24,999.00 in damages founded on accusations that the customer sustained losses from the equity investments the customer purchased as a result […]

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Lombard Terminates Broker For Unauthorized Churning Of Customer Accounts

Eric Alan Zakarin of Cranford New Jersey a stockbroker formerly registered with Lombard Securities Incorporated has been terminated by the firm on October 10, 2018 based upon allegations that (1) Zakarin generated excessive commissions from customers and (2) Zakarin executed trades in customer accounts that customers’ possibly had not authorized. This is not the first […]

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Wells Fargo Broker Barred For Lying About Prior Misconduct

February 05, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Alfredo Caba of New York New York a stockbroker formerly employed by Wells Fargo Advisors LLC has been fined $2,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Caba lied to Wells Fargo about being terminated for cause from J.P. Morgan Securities, […]

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Investors Sue Wells Fargo For Mutual Fund Fraud

Harold Weber of Airmont New York a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim which was settled for $50,000.00 in damages based upon allegations that between December of 2012 and June of 2016: (1) transactions were executed in the customer’s account that were not […]

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SEC Bars Wells Fargo Advisors Broker For Fraud

Aaron Robert Parthemer of Fort Lauderdale, Florida has been fined $160,000.00 and barred from being a broker or investment adviser or otherwise associating with any brokers or investment advisories according to an Order Making Findings and Imposing Sanctions Pursuant To Securities Exchange Act of 1934 Section 15(b), Investment Advisers Act of 1940 Section 203(f) and […]

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FINRA Bars 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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Investors Accuse Wells Fargo Of Unit Investment Trust Fraud

Eric Grant Demarcus of Sunnyvale California a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related written complaint on July 17, 2015 where the customer sought damages estimated to exceed $5,000.00 based upon allegations that unit investment trust transactions executed in the customer’s account were not suitable […]

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Ameriprise Discharges Broker For Bad Investment Strategy

November 23, 2018  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Randyl Robert Taber of West Des Moines Iowa a stockbroker formerly employed by Ameriprise Financial Services Inc. has been discharged by the firm on May 10, 2017 based upon accusations that Taber committed numerous violations of Ameriprise Financial Services’ policy by implementing an “investment strategy” that was not suitable for customers of the firm. FINRA […]

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Wells Fargo Pays In Unit Investment Trust Scheme

November 23, 2018  |   Posted by :   |   Stockbroker Fraud News, Unit Investment Trusts   |   0 Comments

Robert Frank Pondt of Woodland Hills California a stockbroker formerly employed by Wells Fargo Advisors LLC is the subject of a customer initiated investment related written complaint which settled for $22,000.00 on July 5, 2017 supported by accusations that the customer was provided misleading information about unit investment trust products by being told that the […]

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Wells Fargo Sued By Investor For Securities Fraud

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

Raymond Phillip Kvalvog of Fargo North Dakota a former Wells Fargo Advisors LLC branch manager has been ordered by an Arbitration Panel to pay a customer $75,383.75 in compensatory damages based on the Panel finding Kvalvog and Wells Fargo liable for committing fraud by steering the customer into placing more than $2,000,000.00 of the customer’s […]

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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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Investor Sues Wells Fargo For Excessive Trading

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

Michael Walter Ollmann of Waukesha Wisconsin a stockbroker formerly employed by Wells Fargo Advisors LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $125,000.00 in damages founded on accusations that Ollmann excessively traded municipal debt products in the customer’s account and caused the customer to suffer unwarranted investment […]

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Investors Accuse Wells Fargo Of Misrepresentation

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

Paul William Morse of New York New York a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related written complaint on July 18, 2017 where the customer sought damages estimated to exceed $5,000.00 supported by allegations that misrepresentations or false statements had been made to the customer […]

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Wells Fargo Sued By Investors For Misrepresentation

September 28, 2018  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Thomas Von Reckers of Lakewood Colorado a stockbroker formerly employed by Wells Fargo Advisors Financial Network LLC is referenced in a customer initiated investment related civil action in which the customer sought more than $5,000.00 in damages supported by allegations that Reckers misrepresented the terms and conditions of loan products in addition to the investments […]

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Wells Fargo Stockbroker Barred By FINRA For Obstruction

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

Edward Oda Daniel of Fort Worth Texas 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 based upon consenting to findings that he obstructed a FINRA investigation into accusations of his potential unsuitable investment recommendations to customers of Wells […]

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Wells Fargo Advisors Stockbroker Barred By FINRA

Mathew D. Webster of Syracuse New York 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 based upon allegations that he failed to honor FINRA’s request for his information. Case No. 2016051007901 (Sept. 11, 2017). FINRA Public Disclosure confirms […]

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Wells Fargo Broker Barred For Failure To Comply With FINRA

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

J. Gordon Cloutier Jr. of Frisco Texas 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 based upon consenting to findings that he failed to cooperate with FINRA’s investigation into Cloutier’s possible unauthorized trading. Department of Enforcement v. J. […]

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Wells Fargo Broker Suspended For Outside Business Activity

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

Darnell Kenneth Mote of Jacksonville Florida a stockbroker formerly registered with Wells Fargo Advisors LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in an undisclosed outside business activity while employed by Wells Fargo. Letter of […]

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Investors Sue Wells Fargo For Excessive Fees

Dylan Thomas Spadt of Hellertown Pennsylvania a stockbroker currently registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related written complaint on August 26, 2017 where the customer sought $14,900.00 in damages based upon accusations that between January 1, 2013 and August 26, 2017, Spadt allocated the customer’s variable […]

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Wells Fargo Broker Fired For Customer Loans

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

Earle Clement Tingley of Winter Haven Florida a stockbroker formerly employed by Wells Fargo Advisors Financial Network LLC has been discharged by the firm on April 27, 2018 supported by allegations that Tingley acknowledged to have entered into a customer loan arrangement in violation of the firm’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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Wells Fargo Fires Broker For Outside Business Activities

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

Timothy Patrick Lofton of Washington Township Ohio a stockbroker formerly registered with Wells Fargo Advisors Financial Network LLC and advisor employed by Horter Investment Management has been discharged from Horter on April 26, 2018 based upon accusations that Lofton failed to abide by the company’s procedures and policies relating to outside business activities. Financial Industry […]

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Wells Fargo Advisors Sued For UIT Fraud

June 30, 2018  |   Posted by :   |   Stockbroker Fraud News, Unit Investment Trusts   |   0 Comments

Francesco Traina of Miami Florida a stockbroker formerly employed by Wells Fargo Advisors LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $23,000.00 in damages founded on accusations that the customer’s account was concentrated in a unit investment trust position that was not suitable for the customer. Financial […]

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Wells Fargo Discharges Broker For Unauthorized Activities

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

Patrick Fernando Infante of Beverly Hills California a stockbroker employed by Wells Fargo Clearing Services, LLC has been discharged by the firm on July 18, 2017 founded on allegations that he established customers’ accounts without their permission. Does any of this sound familiar. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on August 14, […]

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Customer Accuses Wells Fargo Of Churing

June 25, 2018  |   Posted by :   |   Churning, Excessive trading, Stockbroker Fraud News   |   0 Comments

John Andrew Nelson of Cliffside Park New Jersey a stockbroker currently employed by Wells Fargo Advisors is referenced in a customer initiated investment related written complaint which was resolved on March 16, 2018 for $105,000.00 supported by accusations that unauthorized trades and excessive mutual fund trades had been effected in the customer’s account between April […]

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Wells Fargo Accused Of Failure To Liquidate Securities

May 31, 2018  |   Posted by :   |   Failure to Execute, Stockbroker Fraud News   |   0 Comments

David Michael Logsdon of Hailey Idaho a stockbroker formerly registered with Wells Fargo Advisors is referenced in a customer initiated investment related complaint on March 22, 2018 where the customer sought more than $5,000.00 in estimated damages based upon accusations that Logsdon failed to liquidate the customer’s stock holdings from the customer’s wrap account. Financial […]

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Wells Fargo Broker Investigated For Unauthorized Activities

May 31, 2018  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Darnell Kenneth Mote of Jacksonville Florida a stockbroker formerly employed by Wells Fargo Advisors LLC is the subject of a Financial Industry Regulatory Authority (FINRA) Investigation in which FINRA has recommended that an enforcement action be pursued against Mote based upon allegations that he violated FINRA Rules 2010 and 3270 by engaging in unapproved outside […]

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FINRA Charges Wells Fargo Stockbroker With Obstruction

Joseph Gordon Cloutier of Frisco Texas a stockbroker formerly registered with Wells Fargo Advisors has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Cloutier failed to cooperate with a FINRA investigation into allegations of him executing transactions in customer accounts without permission and soliciting a loan from a customer. Department […]

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FINRA Suspends Wells Fargo Broker In Investigation

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

Joseph Gordon Cloutier Jr of Frisco Texas a stockbroker formerly registered with Wells Fargo Advisors LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he neglected to provide information to FINRA personnel about his business activities. Case No. 2016051652701 (Mar. 6, 2017). FINRA […]

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FINRA Bars Wells Fargo Stockbroker For Obstruction

April 27, 2018  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Dallas York of Scottsdale Arizona 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 according to an Office of Hearing Officers Order Accepting Offer of Settlement containing findings that York failed to provide documents and information to FINRA […]

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Customer Accuses Wells Fargo Of Unsuitable Recommendations

William Stoddard Valentine of Philadelphia Pennsylvania a stockbroker formerly registered with Wells Fargo Advisors LLC was the subject of a customer initiated investment related complaint which settled on December 19, 2016 for $5,000.00 in damages supported by accusations that (1) the customer’s assets were not diversified (2) the customer’s assets were over-concentrated in master limited partnerships […]

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Wells Fargo Sued For Unit Investment Trust Fraud

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

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Wells Fargo Sued By Customer For Excessive Fees

April 08, 2018  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

James Paul Laughlin is a stockbroker currently registered with Wells Fargo Clearing Services LLC who is the subject of a customer initiated investment related arbitration claim which settled for $6,500.00 in damages supported by accusations that the customer was assessed excessive fees for the management of the customer’s management account between December 2, 2014 and […]

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Wells Fargo Stockbroker Fired For Unauthorized Trading

April 08, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Stephen Allen Kelbick of Villanova Pennsylvania is a stockbroker formerly registered with Wells Fargo Clearing Services LLC who has been fired on August 16, 2017, based upon allegations that Kelbick effected trades in customers’ investment accounts without ever having spoken to them before the transactions were entered. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms […]

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Customer Accuses Wells Fargo Of Unauthorized Trading

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

Duane J. Haley of Indianapolis Indiana is a stockbroker formerly registered with Wells Fargo Advisors, LLC who is the subject of a customer initiated investment related written complaint which settled for $5,000.00 in damages founded on allegations that mutual fund transactions were executed in the customer’s account on an unauthorized and unsuitable basis. Haley’s registration […]

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Wells Fargo Fires Broker For Altering Customer Documents

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

Thomas George Sandkamp of Ontario California is a stockbroker formerly registered with Wells Fargo Advisors LLC who was fired on May 12, 2016 supported by allegations that he altered customer account documentation after the document had already been executed by the customer. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Sandkamp has been referenced […]

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