Tag Archives: Wells Fargo Advisors

Wells Fargo Advisors Accused Of Bad Investment Advice

November 15, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Donald Anthony DeVito II of Albany New York a stockbroker formerly registered with Wells Fargo Advisors is referenced in a customer initiated investment related complaint which was resolved for $47,000.00 in damages on December 14, 2018 based upon allegations of DeVito having mismanaged the customer’s equity portfolio during the time that he was associated with […]

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Investors Sue Wells Fargo For Unsuitable Investment Advice

Harold Weber of Airmont New York a stockbroker formerly registered with Wells Fargo Advisors LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $15,000.00 in damages based upon allegations that unfounded statements had been made about investments sold to the customer during the period in which Weber was […]

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Wells Fargo Stockbroker Barred For Private Securities

Joseph Hersey Pratt II (also known as Joseph Hersey Butcher) of Conshohocken Pennsylvania a stockbroker formerly registered with Wells Fargo has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based in part on findings that Pratt executed private securities transactions during the time that he was employed by […]

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Wells Fargo Sued By For Defective Investment Advice

John Bradford Leonard of Toledo Ohio a stockbroker formerly employed by Wells Fargo Advisors is the subject of a customer initiated investment related arbitration claim which was resolved for $265,000.00 in damages supported by allegations of unsuitable stock recommendations having been made during the time that Leonard was employed by Wells Fargo Clearing Services LLC. […]

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Wells Fargo Stockbroker Accused By Investors Of Misappropriation

July 22, 2019  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Philip Earl Brunson (also known as Phil Brunson) a stockbroker formerly employed by Wells Fargo Advisors is the subject of a customer initiated investment related complaint which was resolved for $28,929.99 in damages on August 24, 2018 based upon accusations that the customer’s funds had been misappropriated by Brunson during the time that he was […]

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Wells Fargo Accused By Investors Of Excessive Trading

James Coleman McCormick Jr. of Harrisonburg Virginia a stockbroker formerly employed by Wells Fargo Advisors is referenced in a customer initiated investment related written complaint which had been resolved for $15,000.00 on December 5, 2016 based upon accusations that (1) foreign preferred stock and mutual fund trades were effected in the customer’s account in an […]

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Wells Fargo Sued By Customer For Excessive Trading

May 17, 2018  |   Posted by :   |   Churning, Excessive trading, Stockbroker Fraud News   |   0 Comments

Richard Dell Dunagan of Austin Texas a stockbroker formerly employed by Wells Fargo Advisors LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $261,521.05 in damages founded on allegations that trades were executed in the customer’s account on an excessive and unsuitable basis from 2007 to 2016. Financial Industry […]

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Customer Sues Wells Fargo For Annuity Misrepresentation

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

Mary Janice Stockinger of Lenoir North Carolina is a stockbroker currently registered with Wells Fargo Advisors LLC who is the subject of a customer initiated investment related arbitration claim which settled for $20,000.00 in damages founded on accusations that Stockinger made misrepresentations to the customer concerning a fixed annuity by claiming that it would provide […]

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Wells Fargo Accused By Customer Of Suitability

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

George Frederick Dance Jr of Daphne Alabama, a stockbroker registered with Wells Fargo Advisors, is the subject of a customer initiated investment related written complaint on July 25, 2017, where the customer seeks more than $5,000.00 in damages based upon accusations that an unsuitable investment allocation had been effectuated for the customer’s managed account between […]

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Wells Fargo Sued By Customer For Suitability

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

Jeffrey Marc Grayson of Florham Park New Jersey is a stockbroker formerly registered with Wells Fargo Advisors who is the subject of a customer initiated investment related arbitration claim in which the customer requested thirty-eight thousand one hundred seventeen dollars in damages founded on allegations that Grayson concentrated the customer’s assets in investments that were […]

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Wells Fargo Sued By Customer For Suitability

February 20, 2018  |   Posted by :   |   Stockbroker Fraud News, Suitability   |   0 Comments

Jeffrey Randolph Wilson of Las Cruces New Mexico is a stockbroker currently registered with Wells Fargo Clearing Services that is subject of a customer initiated investment related arbitration claim in which the customer sought at least five thousand dollars in damages founded on accusations that Flaum made unsuitable investment recommendations to the customer regarding energy-sector […]

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Wells Fargo Stockbroker Barred For Conversion

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

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

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FINRA Suspends Wells Fargo Broker For Failure To Comply

January 26, 2018  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

John Greg Schmidt, of Dayton, Ohio, a stockbroker formerly registered with Wells Fargo Advisors Financial Network, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on Schmidt’s failure to provide FINRA with information relating to his business activities. Case No. 2017056103801 (Nov. 29, 2017). FINRA Public […]

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Customer Accuses BB&T Of Unsuitable Annuity Purchase

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

Matthew Aaron Turner, of Ponte Vedra Beach, Florida, a stockbroker currently employed with BB&T Securities, LLC, is the subject of a customer initiated investment related written complaint, which settled on December 27, 2017 for $14,999.00 in damages supported by allegations that Turner made unsuitable investment recommendations to the customer concerning a variable annuity, causing the […]

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Chaplin Davis Stockbroker Suspended For Suitability

January 10, 2018  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unit Investment Trusts   |   0 Comments

Keven J. Jedlicka, of Baltimore, Maryland, a stockbroker formerly registered with Chaplin Davis, has been suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he traded in customer accounts on an unsuitable basis. Letter of Acceptance, Waiver and Consent, No. 2016047659701 […]

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FINRA Bars Wells Fargo Stockbroker For Suitability

January 09, 2018  |   Posted by :   |   Over Concentration, Stockbroker Fraud News, Suitability   |   0 Comments

Charles Bernard Lynch Jr. of Irvine, California, a stockbroker registered with Wells Fargo Advisors, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver and Consent, No. 2015045713301 (Dec. 11, 2017). According […]

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Gilford Broker Suspended For Failure To Pay Customer

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

Jeremy David Hare of Bala Cynwyd, Pennsylvania, a stockbroker associated with Gilford Securities Incorporated, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity on January 4, 2014, based upon consenting to findings that he failed to comply with a customer award of $249,303.21 in FINRA Arbitration No. 11-03778, […]

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Wells Fargo Advisors Accused By Customer Of Omissions

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

Michael Scott Lance, of San Rafael, California, a stockbroker registered with Wells Fargo Advisors, is the subject of a customer initiated investment related written complaint on October 26, 2016, in which the customer sought more than $5,000.00 in damages based upon accusations that the customer was never informed about tax consequences pertaining to individual retirement […]

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Wells Fargo Stockbroker Barred For Suitability

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

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

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Wells Fargo Advisors Accused Of Charging Excessive Fees

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

Donald Anthony Devito II, of Albany, New York, a stockbroker formerly registered with Wells Fargo Advisors, has been subject of a customer initiated investment related written complaint, which settled for $50,000.00 in damages on November 14, 2017, based upon allegations of excessive fees having been assessed on the customer’s equity transactions between December 31, 2008 […]

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FINRA Fines Morgan Stanley Broker For Unauthorized Trading

December 15, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Paul William Lascelle of Flemington, New Jersey, a stockbroker registered with Morgan Stanley, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he engaged in the unauthorized trading of a customer’s investment account. Letter of Acceptance, Waiver and Consent, No. 2017053501901 […]

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Regulator Bars Wells Fargo Stockbroker For Fraud

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

Barbara Ann Endres, of Grand Junction, Colorado, a stockbroker formerly registered with Wells Fargo Advisors, LLC and investment advisor representative with Lifetime Wealth Advisors, LLC, is the subject of an Order issued by Commonwealth of Massachusetts Securities Division suspending Endres’ investment advisor representative registration in the Commonwealth of Massachusetts based upon allegations of her improper […]

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FINRA Bars JP Morgan Broker In Investigation

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

Deborah Elizabeth Greenlee-Keck, of Mishawaka, Indiana, a stockbroker formerly registered with J.P. Morgan Securities LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on allegations that Greenlee-Keck obstructed a FINRA investigation into allegations of her improper conduct concerning a financial transaction with a customer of the […]

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Customer Sues Wells Fargo For Suitability

October 16, 2017  |   Posted by :   |   Suitability, Unauthorized Trading   |   0 Comments

Charles Bernard Lynch Jr., of Irvine California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related arbitration claim on September 18, 2017, in which the customer requested $200,000.00 in damages based on allegations that Lynch effected unsuitable transactions in the customer’s account, over-concentrating the customer’s portfolio […]

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Wells Fargo Stockbroker Fined For Unauthorized Trading

October 16, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Scott Jason Wallach, of Paramus, New Jersey, a stockbroker currently registered with Wells Fargo Clearing Services, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity, and disgorged of commissions obtained from a customer by him through effecting unauthorized trades in the investment account of a […]

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Customer Sues Wells Fargo For Failure To Execute

October 05, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Patrick Claude Robert Guinet, of Irvine, California, a stockbroker formerly registered with Wells Fargo Clearing Services, is the subject of a customer initiated investment related arbitration claim, which settled on June 5, 2017, for $4,954.14 in damages supported by allegations that the customer’s wrap account fund reallocation instructions were not executed between January 1, 2017, […]

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Wells Fargo Stockbroker Charged With Obstruction

October 03, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Hector Hugo Gutierrez, Jr., of Brownsville, Texas, a stockbroker formerly registered with Wells Fargo Advisors, LLC, was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he failed to make an appearance and testify before FINRA staff in reference to accusations that he effected unauthorized transactions in customer accounts. Department of Enforcement […]

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Ameriprise Sued For Unauthorized Trading

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

Jonathan Ben Mirer, of Henderson, Nevada, a stockbroker currently registered with Ameriprise Financial Services, Inc., is the subject of a customer initiated investment related complaint, which settled on February 7, 2017, for $20,000.00 in damages supported by allegations of unauthorized trading of foreign equities from 2009 to 2016. Financial Industry Regulatory Authority (FINRA) Public Disclosure […]

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Customer Sues Sterne Agee For Misrepresentation

September 15, 2017  |   Posted by :   |   Annuity Schemes   |   0 Comments

Robert Charles Stevens, of Norfolk, Virginia, a stockbroker formerly registered with Sterne, Agee & Leach, Inc., is the subject of a customer initiated investment related written complaint on August 19, 2016, based upon allegations that he misled the customer by making promises about the customer’s closed-end funds and variable annuity having been guaranteed against loss. […]

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Customer Sues Wells Fargo For Unauthorized Trading

September 14, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Marco Fragnito, of Laguna Hills, California, a stockbroker registered with Wells Fargo Advisors Financial Network, LLC, is the subject of a customer initiated investment related arbitration claim, which was settled for $1,200,000.00 in damages on July 20, 2017, based upon allegations that Fragnito effected trades in the customer’s account that the customer never authorized. The […]

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Wells Fargo Advisors Stockbroker Suspended By Regulator

August 26, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Tyler Boone Powell, of Montecito, California, 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 effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. […]

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Regulator Suspends Morgan Stanley Stockbroker

August 26, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Christopher D. Stoddard, of Norwell, Massachusetts, a stockbroker formerly registered with Morgan Stanley, 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 altered customer account documentation. Letter of Acceptance, Waiver and Consent, No. 2016051578601 (Aug. 16, 2017). According […]

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Wells Fargo Advisors Stockbroker Terminated

August 17, 2017  |   Posted by :   |   Failure To Supervise   |   0 Comments

Mark Thomas Zielinski, of Newport Beach, California, a stockbroker registered with Wells Fargo Advisors, has been fired from his job on December 18, 2016, based upon allegations against him of supervisory “mishaps.” Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on January 12, 2000, a customer filed an investment related written complaint involving Zielinski’s […]

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Wells Fargo Broker Barred In Investigation

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

Shelley Steuer Freeman, of Beverly Hills, California, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to cooperate with FINRA in an investigation into allegations of her sales […]

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Customer Sues Wells Fargo Advisors For Suitability

August 17, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Steven John Szmak, of Flemington, New Jersey, is the subject of a customer initiated investment related arbitration claim on July 21, 2015, in which the customer requested $51,596.00 in damages based upon allegations that Szmak made unsuitable investment recommendations to the customer about corporate debt investments effected in the customer’s account. Financial Industry Regulatory Authority […]

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Wells Fargo Advisors Sued For Unauthorized Trading

August 15, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Betty Rodriguez, of Weston, Florida, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related arbitration claim on May 27, 2016, in which the customer requested $6,268.90 in damages based upon allegations that Rodriguez, in May of 2016, effected unauthorized mutual fund transactions in the customer’s account. […]

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Customer Sues Wells Fargo Stockbroker For Suitability

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

Steven Robert Tomlinson, of Elmira, New York, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related arbitration claim on May 16, 2017, in which the customer requested damages estimated at $5,000.00 in damages based upon allegations that Tomlinson effected unsuitable transactions in the customer’s account between […]

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Wells Fargo Broker Fined For Unauthorized Transactions

August 02, 2017  |   Posted by :   |   Forgery, Unauthorized Trading   |   0 Comments

Sandra Jayne McCabe, of Melville, New York, a stockbroker formerly registered with Wells Fargo Advisors, 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 she effected unauthorized transactions involving the recycling of customers signatures on documents. Letter of Acceptance, […]

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Wells Fargo Advisors Sued For Suitability

August 02, 2017  |   Posted by :   |   FINRA Securities Arbitration, Unit Investment Trusts   |   0 Comments

Peter Michael Malis, of Woodland Hills, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related arbitration claim, which settled on May 2, 2017, for $1,100,000.00 in damages based upon allegations that he effected unsuitable, unauthorized and excessive closed-end fund transactions in the customer’s account, and […]

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Wells Fargo Advisors Fires Stockbroker For Doing Foreign Stuff

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

Pablo Leonel Gherardi, of Miami Florida, a stockbroker registered with Wells Fargo Advisors, was terminated from employment on November 9, 2016, based upon allegations that he took part in a foreign investment transaction and failed to provide consistent information to his firm relating to the transaction. Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals […]

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Customer Brings Arbitration Against LPL Financial

July 29, 2017  |   Posted by :   |   Annuity Schemes   |   0 Comments

Barry Jay Dekreek, of Alpharetta, Georgia, a stockbroker currently registered with LPL Financial LLC, is the subject of a customer initiated investment related written complaint on June 17, 2016, wherein the customer requested $5,000.00 in damages based upon allegations that Dekreek did not adequately advise the customer about investing in a fixed annuity. Financial Industry […]

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Arbitration Claim Aginst Wells Fargo Clearing Services

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

Gregory Thormann Pease, of New York, New York, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, is the subject of a customer initiated investment related civil action on November 14, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that he failed to provide the customer with an […]

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Wells Fargo Advisors Sued In Arbitration

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

Adam T. Marquardt, of Rochester, Minnesota, a stockbroker currently registered with Wells Fargo Advisors Financial Network, LLC, is the subject of a customer initiated investment related arbitration claim on May 2, 2017, in which the customer requested at least $150,000.00 in damages based upon allegations that Marquardt effected energy sector stock transactions in the customer’s […]

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Wells Fargo Stockbroker Sanctioned For Unauthorized Trading

July 29, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Frank A. Tegge, of East Lansing, Michigan, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he placed unauthorized transactions in a customer’s investment account. Letter of Acceptance, Waiver and […]

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Wells Fargo Named In Suitability Arbitration

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

Richard Ball Ryan, of Hyannis, Massachusetts, a stockbroker formerly registered with Wells Fargo Clearing Services, Inc., is the subject of a customer initiated investment related arbitration claim on May 2, 2017, wherein the customer requested $250,000.00 in damages supported by allegations that Ryan made unsuitable investment recommendations to the customer pertaining to mutual fund products. […]

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Santander Securities Sued For Misrepresentation

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

Willie L. Vales, of Conshohocken, Pennsylvania, a stockbroker formerly registered with Santander Securities LLC, is the subject of a customer initiated investment related arbitration claim on February 27, 2017, based upon allegations including violation of securities laws, breach of contract, breach of fiduciary duty, over-concentration, and misrepresentation pertaining to exchange traded funds effected in the […]

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Wells Fargo Named In Suitability Complaint

July 28, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jason Travis Turner, of Bedford, Virginia, a stockbroker formerly registered with Wells Fargo Advisors, LLC, is the subject of a customer initiated investment related written complaint on March 21, 2017, in which the customer requested an estimated $5,000.00 in damages based upon allegations that Turner effected unauthorized and unsuitable transactions in the customer’s account in […]

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Wells Fargo Broker Sanctioned For Unauthorized Trading

July 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

John Arthur Dettelbach, of Pepper Pike, Ohio, a stockbroker currently 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 effected unauthorized transactions in customer accounts. Letter of Acceptance, Waiver and Consent, No. […]

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Another National Securities Stockbroker Barred

July 05, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Samir Collauku, of Edison, New Jersey, a stockbroker formerly registered with National Securities Corporation, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to provide FINRA staff with information relating to his business activities. Letter No. 2014043784001 (Feb. 2, 2016). FINRA Public […]

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Wells Fargo Stockbroker Fired For Unauthorized Trading

July 05, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Joseph Frederick Eschleman, of Sacramento, California, a stockbroker registered with Wells Fargo Clearing Services, LLC, has been terminated from employment on April 26, 2017, based upon allegations that he directed his associate to effect transactions in the account of a deceased customer by claiming that he received permission from the customer to place the transactions. […]

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Customer Sues Wells Fargo Advisors For Suitability

July 05, 2017  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Shawn Allen Stults, of Midland, Texas, a stockbroker formerly registered with Wells Fargo Advisors, has been named in a customer initiated investment related written complaint, which settled on May 24, 2017, for $6,249.91 in damages to resolve allegations that Stults effected transactions in the customer’s account that were not suitable for the customer. Apparently, between […]

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Sigma Financial Corporation Broker Suspended

July 05, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Daniel Harry Curkan, of Clearwater, Florida, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he did not communicate with FINRA regarding his compliance with the terms and conditions of a customer initiated investment related arbitration settlement or award. Case No. 14-02221 (Apr. 25, […]

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Wells Fargo Advisors Customer Alleges Misrepresentation

July 03, 2017  |   Posted by :   |   Stockbroker Fraud News, Unit Investment Trusts   |   0 Comments

Michael Fisher, of Melville, New York, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related written complaint on April 12, 2017, in which the customer requested $171,172.10 in damages based upon allegations that he made misrepresentations to the customer regarding unit investment trusts. This is not […]

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National Securities Corporation Negligence Complaints

July 03, 2017  |   Posted by :   |   Negligence, Stockbroker Fraud News   |   0 Comments

William Francis Gillis, of Seattle, Washington, a stockbroker formerly registered with National Securities Corporation, has been named in a customer initiated investment related written complaint, which settled on May 22, 2017, for $80,000.00 in damages based upon allegations that he breached his fiduciary duties to the customer and negligently handled the customer’s investment account. Financial […]

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Wells Fargo Advisors Stockbroker Fired For Loans

June 19, 2017  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Leah Rebecca Bullen, of Walnut Creek, California, a stockbroker registered with Wells Fargo Advisors, LLC, was terminated from employment on January 7, 2016, based upon allegations that she effected a loan arrangement with an investor outside the auspices of her firm, and did not make disclosures to the firm about her involvement in a legal […]

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Wells Fargo Stockbroker Suspended By Regulator

Marc Harold Pearl, of Auburn, California, 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 on allegations that he failed provide FINRA staff with a response to their request for information relating to Pearl’s business activities. Letter No. […]

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Wells Fargo Stockbroker Suspended For Unauthorized Trading

June 19, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Jeffrey Marc Grayson, of Florham Park, New Jersey, a stockbroker formerly registered with Wells Fargo Advisors, has been fined $10,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, […]

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Wells Fargo Advisors Complaint Alleges Unauthorized Trading

Jarrod Edward Biebel, of Marquette, Michigan, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related written complaint on October 11, 2016, where the customer requested more than $5,000.00 in damages based upon allegations that Biebel effected unauthorized structured product transactions in the customer’s account. Financial Industry […]

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Wells Fargo Advisors Broker Suspended By Regulator

John Bradford Leonard, of Toledo, Ohio, a stockbroker formerly registered with Wells Fargo Advisors, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to respond to a FINRA informational request regarding his activities. Case No. 2016050686801 (Apr. 14, 2017). FINRA Public Disclosure […]

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Wells Fargo Advisors Complaint Alleging Unauthorized Trading

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

Alexandre Santos Leal, of Miami, Florida, a stockbroker formerly registered with Wells Fargo Clearing Services, has been named in a customer initiated investment related written complaint on April 13, 2017, in which the customer requested more than $5,000.00 in damages based upon allegations that during the time Leal was the customer’s financial advisor, he effected […]

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Ameriprise Financial Services Stockbroker Fired For Solicitation

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

Deane Serfer Rudofker, of Philadelphia, Pennsylvania, a stockbroker registered with Ameriprise Financial Services, Inc., has been terminated from employment based upon allegations that he engaged in communications and solicitations of investments with customers in a manner which violated Ameriprise’s solicitation rules. This is not the first time Rudofker was terminated for misconduct by a brokerage […]

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Wells Fargo Stockbroker Sanctioned By SEC

May 30, 2017  |   Posted by :   |   Stockbroker Fraud News, Unregistered Securities   |   0 Comments

Sylvester King Jr., of Fort Lauderdale, Florida, a stockbroker formerly registered with Wells Fargo Advisors, LLC, was subject of a Securities and Exchange Commission Administrative Order, in which King was ordered to cease and desist from causing future violations of Securities Exchange Act of 1934 Sections 15(a) and 17(a)(1), Rule 17a-4(b)(4), as well as Investment […]

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Wells Fargo Advisors Stockbroker Sanctioned

May 18, 2017  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News   |   0 Comments

Jeffrey Alan Hill, of Bemidji, Minnesota, a stockbroker formerly registered with Wells Fargo Advisors, was sanctioned by Financial Industry Regulatory Authority (FINRA), in which his securities registration was revoked by FINRA for failing to fulfill his payment of fines and disgorgement associated with a prior FINRA disciplinary action against him. Letter No. 2015047008703 (Mar. 17, […]

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Wells Fargo Advisors Named In Written Complaint

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

Joseph Manuel Focil, of Santa Monica, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related written complaint on January 6, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that Focil failed to execute the sale of the customer’s equity […]

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Customer Bring FINRA Securities Arbitration Against Wells Fargo Advisors

May 18, 2017  |   Posted by :   |   FINRA Securities Arbitration, Over Concentration   |   0 Comments

Charles Henry Frieda, of Irvine, California, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related arbitration claim on March 29, 2017, based upon allegations that Frieda overconcentrated the customer’s holdings in equities that the customer was not suitable for. Financial Industry Regulatory Authority (FINRA) Public […]

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Wells Fargo Advisors Sued By Customer For Unsuitability

Lynn Grossman, of Westport, Connecticut, a stockbroker formerly registered with Wells Fargo Advisors, has been named in a customer initiated investment related arbitration claim on March 30, 2017, in which the customer requested $168,000.00 in damages based upon allegations that Grossman made misrepresentations and unsuitable recommendations to the customer concerning a variable annuity that the […]

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Wells Fargo Stockbroker Barred In Investigation

May 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Hossein Amirriahei, of Los Angeles, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to cooperate in an investigation into allegations of her unauthorized trading in customer accounts. Letter […]

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Customer Sues Wells Fargo Advisors For Unauthorized Trading

May 05, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Eric Alan Zakarin, of Westfield, New Jersey, a stockbroker formerly registered with Wells Fargo Advisors, has been named in a customer initiated investment related written complaint, which settled on June 28, 2016, for $3,719.53 in damages based upon allegations that Zakarin effected unauthorized mutual fund transactions in the customer’s account. Financial Industry Regulatory Authority (FINRA) […]

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Customer Arbitration Filed Against Wells Fargo Advisors For Misappropriation

David Jay Homan, of Bay City, Michigan, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related arbitration claim, which settled on April 6, 2016, for $206,500.00 in damages based upon allegations that Homan misappropriated funds during the period in which he was trustee of the customer’s […]

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Wells Fargo Named In Customer Complaint

James Joseph Beaupre, of Boulder, Colorado, a stockbroker currently registered with Wells Fargo Advisors, has been named in a customer initiated investment related written complaint on March 21, 2017, in which the customer requested $10,000.00 in damages based upon allegations that Beaupre failed to provide the customer with accurate information concerning the fees and administration […]

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Wells Fargo Advisors Sued By Customer For Misrepresentation

Mikael C. Lee, of San Mateo, California, a stockbroker formerly registered with Wells Fargo Advisors, has been named in a customer initiated investment related written complaint on December 27, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that Lee misrepresented the terms of investments effected in the customer’s account, […]

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Wells Fargo Advisors Stockbroker Fired

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

Christopher D. Stoddard, of Norwell, Massachusetts, a stockbroker registered with Wells Fargo Advisors, LLC, was terminated from employment on November 23, 2016, based upon allegations of his conduct which coincided with Stoddard’s September 16, 2016 termination from his former employer, Morgan Stanley. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Stoddard has been named […]

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Wells Fargo Advisors Customer Files FINRA Action

George Russel Thoreson, of Bellevue, Washington, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related arbitration claim on February 1, 2017, in which the customer requested $453,886.65 in damages based upon allegations that Thoreson made unsuitable stock recommendations to the customer. Financial Industry Regulatory Authority (FINRA) […]

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Wells Fargo Advisors Sued By For Unauthorized Trading

March 31, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Shahida Arunima Hossain, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related written complaint on February 24, 2017, based upon allegations that Hossain invested the customer’s assets in a manner which exceeded the customer’s conservative investment objectives, and utilized margin in the customer’s investment account […]

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Prospera Financial Services Stockbroker Barred

March 31, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Rhonda Janeen Matthews, of Austin, Texas, a stockbroker formerly registered with Prospera Financial Services, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on allegations that she failed to provide FINRA with a response to FINRA personnel’s information request. Letter No. 2015048158201 (Sept. 19, 2016). […]

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Wells Fargo Advisors Financial Sued In Annuity Case

March 31, 2017  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Jeffrey David Day, of Sarasota, Florida, a stockbroker currently registered with Wells Fargo Advisors Financial Network, LLC, has been named in a customer initiated investment related written complaint on January 23, 2017, based upon allegations that Day made guarantees to the customer regarding the performance of a variable annuity investment, and failed to disclose fees […]

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Wells Fargo Advisors Sued by Customers For Misrepresentation

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

Nelson Michael Polun, of Bel Air, Maryland, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related written complaint, which settled for $4,546.96 in damages on March 13, 2017, based upon allegations that Polun made misrepresentations to the customer concerning preferred stock investments, and omitted that […]

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Wells Fargo Advisors Stockbroker Barred By SEC

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

Ane S. Plate, of Orlando, Florida, was barred by the Securities and Exchange (SEC) Commission from working as an investment advisor or broker, or associating with firms selling securities or providing investment advice based upon an Order Instituting Administrative Proceedings containing findings that Plate pled guilty to embezzlement, theft, or misapplication in violation of 18 […]

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Morgan Stanley Sued In Arbitration For Unsuitability

March 16, 2017  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Steven Rocco Colli, of Morristown, New Jersey, a stockbroker currently registered with Morgan Stanley, has been named in a customer initiated investment related written complaint on February 16, 2017, based upon allegations that Colli, from 2014 to 2017, utilized the customer’s margin without authorization to effect options and equity transactions. Financial Industry Regulatory Authority (FINRA) […]

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Sica Wealth Management Sued For Unsuitability

Jeffrey Carmen Sica, of Parsippany, New Jersey, a registered representative associated with Sica Wealth Management, has been named in a customer initiated investment related arbitration claim, which settled on April 27, 2015, for $211,250.00 in damages based upon allegations that Sica effected unsuitable stock and exchange traded fund (ETF) transactions in the customer’s account. Financial […]

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Wells Fargo Advisors Sued by Customer For Unsuitability

Alan Neal Rose, of Melville, New York, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related arbitration claim on January 16, 2017, in which the customer requested $100,000.00 in damages based upon allegations that from 2013 to 2016, Rose over-concentrated the customers’ portfolio in investments […]

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UBS Financial Services Sued For Unsuitability

Stephen Frederick Owen III, of Annapolis, Maryland, a stockbroker currently registered with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim on January 12, 2017, in which the customer requested $650,000.00 in damages based upon allegations that from 2015 to 2017, Owen overconcentrated the customer’s investment portfolio in speculative […]

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Wells Fargo Advisors Stockbroker Barred

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

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

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Wells Fargo Advisors Stockbroker Barred By Regulators

February 27, 2017  |   Posted by :   |   Elder Abuse, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Matthew Christopher Maczko, of Oak Brook, Illinois, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he charged customers with excessive fees, and misled FINRA during his recorded testimony regarding the allegations […]

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Wells Fargo Advisors Sued for Failure To Disclose Commissions

Chadwick C. Collins, of Carlsbad, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related arbitration claim, which settled on April 18, 2016, for $86,559.31 in damages based upon allegations that Collins, from December of 2015 to March of 2016, failed to disclose commissions charged to […]

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Wells Fargo Advisors Sued by Customer In FINRA Arbitration

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

Michael Jay Sharenow, of Florham Park, New Jersey, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in a customer initiated investment related written complaint on November 1, 2016, based upon allegations that Sharenow effected unauthorized corporate debt securities transactions in the customer’s account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals […]

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One Broker Lands Wells Fargo Advisors in 43 FINRA Securities Arbitrations

Charles Bernard Lynch, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been named in Forty Three customer initiated investment related disputes between October 6, 2014, and August 9, 2016, which collectively settled for $6,932,566.03 in damages based upon allegations against Lynch which included unsuitability, misrepresentation, negligence, and account mismanagement. Financial Industry Regulatory Authority […]

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Wells Fargo Advisors Sued By Customer For Suitability

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

William Robert Berg, of Mesa, Arizona, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related arbitration claim, which settled on October 19, 2016 for $25,000.00 in damages based upon allegations that in 2014, Berg overconcentrated the customer’s assets in oil and gas equities that were […]

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Chapin Davis Stockbroker Terminated For Misconduct

January 19, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Charles Louis Laubach, of Baltimore, Maryland, a stockbroker formerly registered with Chapin David Investments, has been terminated from employment on March 18, 2016, based upon allegations that he did not follow his firm’s supervisory protocols and mismarked investment transaction tickets. This is not the first time that Laubach has been terminated by a brokerage firm […]

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Wells Fargo Advisors Stockbroker Suspended For Outside Business Activities

January 12, 2017  |   Posted by :   |   Outside Business Activities, Stockbroker Fraud News   |   0 Comments

Mark H. Botsford, of Alexandria, Virginia, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity based upon consenting to findings that he engaged in outside business activities which were not approved by Wells Fargo. Letter of Acceptance, Waiver […]

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Wells Fargo Stockbroker Terminated After Investigation Into Misconduct

January 05, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

David Kenneth Rubenstein, of Farmington Hills, Michigan, a stockbroker formerly registered with Wells Fargo Advisors, LLC, was terminated from employment on April 11, 2016, based upon allegations pertaining to misconduct committed at his prior firm, Ameriprise Financial Services, Inc. FINRA Public Disclosure reveals that Rubenstein’s registration was terminated from Ameriprise Financial Services, Inc. on July […]

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Wells Fargo Advisors Fined For Failure to Supervise

January 03, 2017  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Wells Fargo Advisors, LLC, and Wells Fargo Advisors Financial Network, LLC, both headquartered in Saint Louis, Missouri, have been censured and fined $1,000,000.00 by Financial Industry Regulatory Authority (FINRA) based upon consenting to findings that the firms failed to supervise consolidated reports that were disseminated to customers concerning outside assets. Letter of Acceptance, Waiver and […]

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Doughery Co Stockbroker Suspended For Unauthorized Trading

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

Jeffrey A. Hill, of Bemidji, Minnesota, a stockbroker formerly associated with Dougherty Company LLC, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he utilized unauthorized discretion in customer accounts, and made unsuitable investment recommendations to customers. Letter of Acceptance, Waiver […]

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Wells Fargo Advisors Stockbroker Suspended For Unauthorized Trading

Sven Bernhard Karlen, of Lebanon, New Hampshire, a stockbroker formerly registered with Wells Fargo Advisors, has been fined $15,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he effected trades in customer accounts without authorization, mismarked order tickets, caused […]

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Wells Fargo Advisors Named In Customer Unsuitability Claim

Thomas G. Gresham, of Overland Park, Kansas, a stockbroker formerly associated with Wells Fargo Advisors, LLC, has been subject to five customer initiated arbitration claims on July 10, 2015, which were settled for a total of $655,000.00 in damages based upon allegations against Gresham including unsuitable investment recommendations, breach of fiduciary duties, unjust enrichment, and […]

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Wells Fargo Advisors Stockbroker Suspended For Unsuitable Recommendation

Robert James Batchen, of Skokie, Illinois, a stockbroker formerly registered with Wells Fargo Advisors, LLC, was fined $15,000.00 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he effected unauthorized discretionary trades and unsuitable transactions in a customer account. Letter of […]

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Wells Fargo Advisors Stockbroker Barred For Fraud

November 02, 2016  |   Posted by :   |   Stock manipulation, Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Donald Shelby Toomer, of Las Vegas, Nevada, a stockbroker formerly associated with Wells Fargo Advisors Financial Network, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity per a FINRA Officer of Hearing Officers Expedited Hearing Panel Decision containing findings that Toomer refused to cooperate with a FINRA […]

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Customers Rush to Sue Newport Coast Securities Stockbroker Rushton Audrey

September 27, 2016  |   Posted by :   |   Stockbroker Fraud, Stockbroker Fraud News   |   0 Comments

Rushton L. Ardrey III, of Boston Massachusetts, a stockbroker with Newport Coast Securities, Inc., is currently subject to pending customer disputes. Particularly, on February 9, 2016, Ardrey became subject to a pending customer dispute in which he was alleged to have engaged in unauthorized and unsuitable trading. According to FINRA Public Disclosure Records, Ardrey has […]

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Wells Fargo Stockbroker Suspended For Unauthorized Trading

September 16, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Barbara L. Bottoms, of Fairbanks, Arkansas, a stockbroker with Wells Fargo Advisors, LLC, was fined $17,500.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that she engaged in the unauthorized trading in customer accounts. Letter of Acceptance, Waiver and Consent, […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

September 09, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Daniel John Meyers, of New Haven, Connecticut, a stockbroker with Morgan Stanley, was fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in unauthorized  trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015048045501 (Aug. 19, 2016). […]

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Wells Fargo Advisors Stockbroker Fined For Unauthorized Trading

Robert Tuffy, of East Brunswick, New Jersey, a stockbroker with Wells Fargo Advisors, LLC, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in the unauthorized trading in a customer account. Letter of Acceptance, Waiver and Consent, No. […]

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Wells Fargo Advisors Stockbroker Barred In Investigation

August 08, 2016  |   Posted by :   |   Customer Loans, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

James McCormick, Jr., of Harrisonburg, Virginia, a stockbroker with Wells Fargo Advisors, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he failed to cooperate with a FINRA investigation into allegations stemming from customer complaints against McCormick. Letter of Acceptance, Waiver and Consent, […]

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Wells Fargo Stockbroker Suspended For Outside Business Activities

May 26, 2016  |   Posted by :   |   Selling Away, Stockbroker Fraud News   |   0 Comments

Paul Anthony Akre, of Waukesha, Wisconsin, a stockbroker with Wells Fargo Advisors, LLC, was fined $15,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in unauthorized outside business activities, a private securities transaction, and improper loans with customers. […]

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Exton Pennsylvania Wells Fargo Advisor Broker Barred For Stealing

May 26, 2016  |   Posted by :   |   Misappropriation of Funds, Stockbroker Fraud News   |   0 Comments

Christopher J. Pierce, of Exton, Pennsylvania, a representative with Wells Fargo Advisors, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that converted customer funds. According to the AWC, on March 1, 2016, Pierce had issued a Wells Fargo client a debit card, […]

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Wells Fargo Stockbroker Suspended For Unsuitable Trading

Brett W. Burgesser, of Orlando, Florida, a stockbroker with Wells Fargo Advisors, LLC, was fined $5,000.00 and suspended for sixty-days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he engaged in the unsuitable switching of mutual funds in customer accounts. Letter of Acceptance, Waiver and […]

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Wells Fargo Advisors Broker Sanctioned for Unauthorized Trading

May 06, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Apostolos Nicholas Papadea, of Columbia, South Carolina, a registered representative with Wells Fargo Advisors, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm after consenting to findings that he engaged in unauthorized discretionary trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015048044301 (Apr. 19, 2016). […]

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Wells Fargo Advisors Stockbroker Barred In Investigation

Mark Peter Koestner, of Naples, Florida, a stockbroker with Wells Fargo Advisors, 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 engaged in unauthorized private securities transactions. Letter of Acceptance, Waiver and […]

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Wells Fargo Advisors Stockbroker Barred For Stealing

Jorge Gonzalez, of Closter, New Jersey, a stockbroker with Wells Fargo Advisors, LLC and branch-manager for Wells Fargo Advisor’s affiliate banking company, 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. […]

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Wells Fargo Stockbroker Suspended for Unauthorized Trading

February 12, 2016  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Michael J. Mularski of Mequon, Wisconsin, a stockbroker with Wells Fargo Advisors, LLC, was fined $12,500 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member firm in all capacities after consenting to findings that he engaged in discretionary trading and unauthorized trading. Letter of Acceptance, Waiver and Consent, No. […]

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Cambridge Investment Research Stockbroker Suspended for Unsuitable Recommendations

February 12, 2016  |   Posted by :   |   Stockbroker Fraud News, Suitability, Unit Investment Trusts   |   0 Comments

Jacob T. Turner of Orlando, Florida, a stockbroker with Cambridge Investment Research, Inc., was fined $5,000 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities after consenting to findings that he made unsuitable recommendations to customers. Letter of Acceptance, Waiver, and Consent, No. 2013036516301 […]

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Wells Fargo Advisors Stockbroker Charged with Obstruction

Katherine Lapidoth of Aventura, Florida, a stockbroker with Wells Fargo Advisors, has been suspended for two years from association with any Financial Industry Regulatory Authority (FINRA) member and fined $15,000 in connection with an Office of Hearing Officers Order Accepting Offer of Settlement that contained findings that Lapidoth provided false information to regulators and failed to […]

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Wells Fargo Advisors Stockbroker Barred

Valentino Infante of Miami, Florida, a Stockbroker with Wells Fargo Advisors LLC, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity per an Office of Hearing Officers Default Decision containing findings that Infante engaged in outside business activities without providing his employer with prior written notice; provided false […]

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Wells Fargo Advisors Broker Suspended for Private Securities Transactions

Timothy Rodgers of Overland Park, Kansas, a registered stockbroker with Wells Fargo Advisors, LLC, was fined $10,000 and suspended for five months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he had engaged in unauthorized private securities transactions and made false statements to his firm […]

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Wells Fargo Advisors Broker Obstructs Investigation

Katherine Lapidoth of Aventura, Florida, a registered representative with Wells Fargo Advisors, has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that Lapidoth had provided false information to regulators and failed to comply with a FINRA investigation into her potential misconduct. Department of Enforcement v. Lapidoth, No. 2013039650502 […]

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Stifel Nicolaus & Company Stockbroker Barred for Obstructing Investigation

Andrew Lyman Quinn of Reno, Nevada, a stockbroker with Stifel, Nicolaus & Company, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity in connection with a Hearing Panel Decision containing findings that Quinn failed to respond to FINRA’s requests for information in connection with an investigation […]

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Wells Fargo Advisors Broker Suspended for Churning

James G. Christianson from Portland, Oregon a Stockbroker with Wells Fargo Advisors, LLC, was suspended for fifteen days from association with all Financial Industry Regulatory Authority (FINRA) members and fined $10,000 after consenting to findings that he exercised discretion in three accounts of a customer without obtaining written authorization from the customer and without written […]

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Wells Fargo Advisor Stockbroker Suspended for Unsuitable Recommendations

Jeffrey D. Daggett, a Stockbroker with Wells Fargo Advisors, received a four-month suspension from association with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity, as well as a $20,000.00 fine after consenting to findings that he recommended unsuitable transactions in exchange trade notes, as well as leveraged and inverse leveraged exchange traded […]

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Morgan Stanley Stockbroker Suspended for Private Securities Transactions

October 05, 2015  |   Posted by :   |   Failure To Supervise, Selling Away, Stockbroker Fraud News   |   0 Comments

Sylvester King Jr., a Stockbroker with Morgan Stanley Smith Barney LLC, was suspended from association with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities for eighteen months and fined $35,000 after consenting to findings that he circumvented his firm’s policies and procedures, made an unauthorized loan to a customer, and engaged […]

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Wells Fargo Broker Barred in Theft Investigation

Kamran Daryush Nougzust, a registered representative with Wells Fargo Advisors, was permanently bared from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after failing to provide information and documentation requested by FINRA in connection with an investigation into Nougzust’s alleged conversion of a bank’s trust funds. Letter of Acceptance, Waiver, […]

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Wells Fargo Advisors Broker Barred for Stealing Customer Funds

Daniel Hillius, a registered representative with Wells Fargo Advisors, LLC, was permanently barred from association with any FINRA member firm in any capacity after consenting to Financial Industry Regulatory Authority (FINRA) findings that he misappropriated and forged another person’s check while converting funds for his own benefit. Letter of Acceptance, Waiver, and Consent No. 2014041988001 […]

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PNC Investments Broker Barred Amid Investigation into Stolen Funds

Philip Earl Brunson, a registered representative with PNC Investments and Wells Fargo Advisors, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he failed to cooperate with their investigation in connection with allegations that Brunson converted customer funds. Letter of Acceptance, […]

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Wells Fargo Advisors Broker In Unautorized Trading Probe

Nicholas Harper, a registered representative with Wells Fargo Advisors, LLC, was permanently barred from the securities industry for life after consenting to findings that he failed to cooperate with an investigation into discretionary trading activities. Letter of Acceptance, Waiver, and Consent No. 2013038203401 (May 13, 2015). According to the AWC, Harper was employed with Wells […]

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LPL Financial Broker Barred for Obstructing Investigation

Robert Neil Tricarico, formerly a general securities representative with LPL Financial, LLC, was permanently barred from associating with any FINRA member in any capacity after failing to provide information and documentation requested by FINRA in connection with an investigation into allegations that Tricarico converted customer funds. FINRA Letter of Acceptance, Waiver, and Consent No. 2014043719001 […]

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Chase Investment Services Corp. Broker Barred For Stealing

Richard Ohrn, a former general securities rep with Wells Fargo Advisors, LLC, was permanently barred from associating with any FINRA member capacity after consenting to FINRA findings that Ohrn had converted customer funds, forged/falsified documents, caused his firm’s records and books to be false, and guaranteed a customer against financial loss. FINRA Department of Enforcement […]

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Wells Fargo Advisors Broker Barred For Lying

Aaron R. Parthemer, a former financial advisor with Wells Fargo Advisors, LLC, was permanently barred from association with any FINRA member in any capacity after consenting to FINRA findings that he engaged in unapproved outside business activities, unlawful loans to customers, private securities transactions, false written responses to FINRA pursuant to 8210 requests, and false […]

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Wells Fargo Advisors Fined for Sale of Structured Products

Between August 2005 and July 2012, Wells Fargo Advisors, together with its predecessor, Wachovia Securities sold more than $12 million of Structured Repackaged Asset-Backed Trust Securities or “STRATS” to its retail customer. Structured Repackaged Asset-Backed Trust Securities Structured Repackaged Asset-Backed Trust Securities are a complex structured product who return is based upon a floating rate based […]

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Wells Fargo Broker Barred for False Promises

Jack Allen Scherbert of Sparks Nevada was barred by the Financial Industry Regulatory Authority or for life following his failure to cooperate, as required by FINRA Rules, in connection with its investigation that Scherbert made false guaranties regarding return of interest and principal to Wells Fargo Advisors customers in connection with the recommendation and sale […]

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Wells Fargo Advisors Censured, Fined $500,000 for Unsuitable Recommendations to Customers

Wells Fargo Advisors, a FINRA member Firm since 1987 headquartered in St. Louis, Missouri, conducts retail brokerage / wealth management business via 7,000 branch offices and employs roughly 25,000 registered reps. The Firm, in proposing settlement of rule violations alleged by FINRA without admitting or denying the findings, consented to a FINRA censure and fine […]

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Former Newbridge Securities Broker Barred by FINRA for Failure to Cooperate with FINRA Investigation

Brian M. Berger, a former Newbridge Securities Broker, was barred from association with any FINRA-registered firm in all capacities after Berger failed to cooperate with a FINRA investigation in connection with allegations that he misappropriated funds from elderly customers while registered with Wells Fargo Advisors LLC and MetLife Securities, Inc. FINRA Letter of Acceptance, Waiver […]

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UBS Financial Services Fined for Shoddy Supervision of ETF Sales

May 04, 2012  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

UBS Financial Services Inc. has agreed to pay a $1.5 million fine after the Financial Industry Regulatory Authority (FINRA) charged the firm with failure to supervise the sale of complex financial products known as non-traditional exchange-traded funds, as well as for making unsuitable recommendations of these funds. In addition to the fine, UBS Financial Services […]

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Citigroup Global Fined $2 Million for Failure to Supervise

May 03, 2012  |   Posted by :   |   Failure To Supervise, Stockbroker Fraud News   |   0 Comments

Citigroup Global Markets Inc. has been fined $2 million by the Financial Industry Regulatory Authority (FINRA) for failure to supervise and for making unsuitable recommendations in connection with the sale of complex financial products known as non-traditional exchange-traded funds. The firm submitted a Letter of Acceptance, Waiver and Consent (AWC) to settle a FINRA disciplinary […]

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Former Wells Fargo Broker Fined for Altering IPO Forms Without Authorization

February 13, 2012  |   Posted by :   |   Securities Fraud, Stockbroker Fraud News   |   0 Comments

A former stockbroker for Wells Fargo Advisors LLC has been fined $5,000 and suspended from the financial industry for six months for changing dates and account numbers on forms without customers’ permission. In June 2010, Judith Martin altered the dates and account numbers on 25 Initial Public Offering (IPO) Certification Forms that the Wells Fargo […]

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Stockbroker Steals More Than $800,000 from Disabled and Elderly

January 27, 2012  |   Posted by :   |   Retirement & Elder Fraud, Stockbroker Fraud News   |   0 Comments

Former stockbroker Ralph Edward Thomas Jr., who pleaded guilty to mail fraud in September, has been barred for life by the Financial Industry Regulatory Authority (FINRA) for conversion of more than $800,000 in customer funds to his own use. According to FINRA, Thomas misappropriated the money from three vulnerable customers between December 2001, and July […]

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