Tag Archives: Wells Fargo Clearing Services LLC

Wells Fargo Stockbroker Sanctioned For Trading Dead Customer’s Account

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

Michael David Garris of Los Angeles California a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been fined $5,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Garris effected trades in the account of a Wells Fargo customer who […]

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Well Fargo Stockbroker Discharged For Cause

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

John Raymond Lenarz of Bismarck North Dakota a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been discharged by the firm on March 26, 2019 supported by accusations that (1) Lenarz failed to conform to the trading policies of the firm and (2) Lenarz tried to stop a complaint from being filed by […]

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Wells Fargo Stockbroker Sanctioned For Customer Loans

Linda Sue Zara of Boca Raton Florida a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Zara borrowed a customer’s funds in violation of the firm’s policies. Letter […]

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Wells Fargo Accused of Unsuitable Mutual Fund Recommendations

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

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Investors Accuse Wells Fargo With The Failure To Disclose Fees

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

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Investor Blames Wells Fargo With The Failure to Follow Instructions

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

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Wells Fargo Stockbroker Sanctioned For Sale of Unsuitable Investments

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

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Wells Fargo Blamed For Disregarding Investor Instructions

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

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

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FINRA Sanctions Wells Fargo Stockbroker For Providing Bad Advice

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

Ronald Richard Blasczyk of Green Bay Wisconsin a stockbroker currently employed by Wells Fargo Clearing Services 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 Blasczyk gave bad investment advice to a customer of the firm. Letter of […]

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Investors accuse Wells Fargo Of Unauthorized Trading

Debra Logan (also known as Debbie Bloustine) of Oklahoma City Oklahoma a stockbroker currently employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on August 3, 2018 where the customer sought damages estimated to exceed $5,000.00 supported by accusations that between November 5, 2010 and July 16, […]

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Wells Fargo Stockbroker and Wife Alleged to Be Bad Manors

David Manor of Boston Massachusetts a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint supported by accusations that (1) Manor engaged in unapproved outside business activities and private securities transactions involving a customer of the firm and (2) Manor […]

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Investors Blame Wells Fargo For Excessive Fees

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

Taylor Edward Browman of Newport Beach California a stockbroker currently employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on July 21, 2018 where the customer sought $23,792.80 in damages based upon allegations that between January 1, 2018 and July 21, 2018, the customer had been charged […]

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Wells Fargo Accused By Investors Of Fraud

Peter Frank Valdez of Junction New York a stockbroker currently employed by Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related written complaint on September 19, 2018 where the customer sought $17,000.00 in damages founded on accusations that while Valdez was associated with Wells Fargo, omissions had been made to […]

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Wells Fargo Stockbroker Suspended For Outside Activities

Jason Barrett Lane of New York New York a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Lane engaged in unapproved outside business activities during the time that he was associated […]

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Wells Fargo Accused Of Failure to Disclose Fees

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

John Raymond Lenarz of Dickinson North Dakota a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related complaint which was resolved on November 2, 2018 for $64,783.18 in damages based upon accusations that between September of 2018 and October of 2018, omissions had been made to the […]

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Investors Accuse Wells Fargo Of Direct Investment Fraud

Eric A. Keller of Duluth Georgia a stockbroker formerly registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint which was resolved for $39,587.90 on February 16, 2016 founded on accusations that the customer was placed into a direct participation program or sold limited partnership interests that were […]

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Investors Accuse Wells Fargo Of Investment Fraud

Glen Joseph Webster of Appleton Wisconsin a stockbroker formerly registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related complaint which settled for $145,000.00 on March 14, 2017 based upon allegations that the customer was not provided adequate information concerning the costs of disengaging an outside money manager’s covered call […]

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Wells Fargo Blamed By Investor For Altering Investment Objectives

Matthew John Quall of Northfield Illinois a stockbroker formerly registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on January 23, 2019 in which the customer requested unspecified damages supported by allegations that the customer’s account profile had been misrepresented leading to speculative and inappropriate futures commodity […]

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Wells Fargo Sued By Investors For Unsuitable Recommendations

Bryan Edwin Benson of Tucson Arizona a stockbroker currently registered with Wells Fargo Clearing Services is the subject of a customer initiated investment related arbitration claim in which the customer requested $218,257.00 in damages based upon allegations that unsuitable stock transactions had been effected in the customer’s account by Benson while he was associated with […]

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Wells Fargo Broker Fired For Trading Dead Person’s Account

March 15, 2019  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Marvin Egorin of Los Angeles California a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been terminated by the firm on January 18, 2018 during the time that Egorin was subject of an internal investigation into allegation that Egorin deliberately permitted liquidations and trades to be placed in a customer’s account after the […]

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Investors Accuses Wells Fargo Of Bad Direct Investments

Joseph Alan Marshall of Dallas Texas a stockbroker currently employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint which was resolved for $100,000.00 on October 19, 2016 based upon allegations Marshall mismanaged the customer’s investment account and placed the customer in direct investments that failed to conform […]

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Investors Accuse Wells Fargo Of Unauthorized Transaction

Robert Ellsworth McMann of Lake Mary Florida stockbroker or supervisor currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on October 16, 2018 in which the customer requested more than $5,000.00 in damages supported by allegations that funds were inappropriately taken from the customer’s tax-qualified annuity […]

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Wells Fargo Accused By Investors Of Churning

Cynthia Day Laroche of Park City Utah a stockbroker currently employed by Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related written complaint which was resolved for $40,000.00 in damages on August 17, 2017 founded on allegations that Laroche churned the customer’s investment portfolio and engaged in manipulative activities with […]

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FINRA Bars Wells Fargo Broker In Theft Investigation

Somning Pheth (also known as Demo Pheth) a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Pheth failed to provide FINRA with information that had been formally requested of him through a FINRA inquiry. […]

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Investors Accuse Wells Fargo Of Misconduct

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

Kerry John Mangano of Irvine California a stockbroker formerly registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on July 8, 2016 where the customer sought damages estimated to exceed $5,000.00 founded on allegations that Mangano failed to execute the customer’s over-the-counter equities trades according to the […]

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Investors Accuse Wells Fargo Of Churning Customer Accounts

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

Thomas Edward Morrow of New York New York a stockbroker currently registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related written complaint on August 5, 2016 in which the customer sought damages estimated to exceed $5,000.00 founded on accusations that stock trades were executed in the customer’s UGMA […]

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FINRA Suspends Wells Fargo Broker For Dodging Inquiry

February 05, 2019  |   Posted by :   |   Selling Away, Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Herbert H. Hafen of New York New York a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Hafen failed to provide a response to FINRA after an inquiry was made into his activities possibly […]

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Wells Fargo Broker Terminated For Unauthorized Trading

January 29, 2019  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Solomon Wei-En Hua (also known as Wei-En Hua) of West Covina California a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been terminated by the firm on May 22, 2018 during the time that Hua was subject of an internal investigation into Hua possibly (1) trading in customer accounts without authorization (2) inappropriately […]

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Wells Fargo Accused Of Preferred Stock Fraud

January 28, 2019  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Sanjay Mathur of Newport Beach California a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related complaint on August 3, 2017 in which the customer requested damages estimated to exceed $5,000.00 supported by allegations that between July 12, 2016 and August 2, 2017: (1) Mathur placed the […]

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Wells Fargo Sued By Investors For Annuity Misconduct

Richard William Schloss of Canton Ohio a stockbroker formerly employed by Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related arbitration claim which was settled to resolve allegations that Schloss inappropriately placed the customer’s assets in a variable annuity which exposed the customer to unnecessary surrender penalties and illiquidity. Financial […]

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Investors Chase Wells Fargo For Annuity Fraud

January 06, 2019  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Andrew Keith Jordan of Montgomery Alabama a stockbroker formerly employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint which was resolved for $21,000.00 on January 11, 2018 supported by accusations that Jordan placed the customer in an equity indexed annuity on August 8, 2016 that was inappropriate […]

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Wells Fargo Broker Investigated For Unauthorized Trading

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

David John Strnad of Nashville Tennessee a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been issued a Financial Industry Regulatory Authority (FINRA) Wells Notice revealing that FINRA concluded that it should pursue a disciplinary action against Strnad founded on accusations that Strnad violated FINRA Rule 2010 by effecting trades in a customer’s […]

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FINRA Suspends Wells Fargo Broker For Ignoring Requests

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

Juan Carlos Uribe of Houston Texas a stockbroker formerly employed by Wells Fargo Clearing Services has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Uribe failed to provide information to FINRA personnel that was requested of him. FINRA Case No. 2018059719801 (Nov. 19, 2018). […]

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Investors Sue Wells Fargo For Excessive Fees

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

Alexander Agostino Aiello of Warren New Jersey a stockbroker currently employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on October 25, 2018 where the customer sought $41,656.33 in damages based upon accusations that (1) Aiello misinformed the customer regarding the management fees that would be charged […]

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Investors Sue Wells Fargo For Bad Investments

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

Larry Demar Boggs of Cumberland Maryland a stockbroker currently employed by Wells Fargo Advisors is referenced in a customer initiated investment related arbitration claim which was resolved for $75,000.00 in damages founded on accusations that the customer’s investable assets were allocated in a municipal bond portfolio that was in no way suitable for the customer. […]

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Wells Fargo Broker Charged With Annuity Twisting

December 13, 2018  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Ronald Richard Blasczyk of Manitowoc Wisconsin a stockbroker currently registered with Wells Fargo Clearing Services LLC has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he made unsuitable recommendations for a customer to purchase a variable annuity, and then lied to his firm in regard to his business activities. Department […]

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Investors Sue Wells Fargo For Bad Investment Strategy

William Joseph Dumchus of Westfield New Jersey a stockbroker formerly employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related arbitration claim where the customer requested at least $350,000.00 in damages supported by accusations that between 2006 and 2017, Dumchus placed the customer in an inappropriate stock-based investment strategy. Financial […]

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Wells Fargo Sued For Bad Municipal Bond Investments

November 30, 2018  |   Posted by :   |   Bond Fraud, Municipal Bond Fraud, Stockbroker Fraud News   |   0 Comments

Ross Allen Stein of New York New York a stockbroker currently employed by Wells Fargo Clearing Services is referenced in a customer initiated investment related arbitration claim which settled for $32,500.00 in damages based upon accusations that Stein placed municipal debt purchases in the customer’s account that were not suitable for the customer. FINRA Arbitration […]

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Investors Chase Wells Fargo For Structured Product Misdeeds

November 30, 2018  |   Posted by :   |   Stockbroker Fraud News, Structured Notes, Unit Investment Trusts   |   0 Comments

Douglas Hammond Freebern of Bartow Florida a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint which was settled on September 14, 2017 to resolve accusations that Freebern placed the customer in a structured product without the customers consent. Financial Industry Regulatory Authority (FINRA) Public […]

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Wells Fargo Pays Investors For Stock Losses

James D. Parises of Henderson Nevada a stockbroker currently registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related arbitration claim which was resolved for $65,000.00 in damages supported by allegations that Parises sustained unwarranted investment losses on equities held in the customer’s account. Financial Industry Regulatory Authority (FINRA) […]

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Wells Fargo Accused Of Structured Products Fraud

Jeffrey John Di Bono of San Jose California a stockbroker currently registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related written complaint on May 11, 2017 in which the customer sought $8,500.00 in damages based upon accusations that Di Bono did not receive investment returns that were promised […]

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Investors Blame Wells Fargo For Bad Recommendations

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

Robert Michael Henrici of Coral Springs Florida a stockbroker currently registered with Wells Fargo Clearing Services is the subject of a customer initiated investment related written complaint which settled for $20,000.00 on July 3, 2017 founded on accusations that Henrici placed an inappropriate insurance rider on the customer’s variable annuity. Financial Industry Regulatory Authority (FINRA) […]

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Wells Fargo Alleged To Have Ignored Investor Instructions

October 22, 2018  |   Posted by :   |   Over Concentration, Stockbroker Fraud News, Suitability   |   0 Comments

Ollie Baldwin Harris III of Houston Texas a stockbroker currently registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related written complaint which settled for $15,000.00 in damages on October 30, 2017 based on accusations that from July 21, 2011 to July 28, 2017, Harris failed to follow the […]

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Wells Fargo Blamed By Investor For Misrepresentation

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

Norman Paul Harres of Virginia Beach Virginia a stockbroker currently employed by Wells Fargo Clearing Services, LLC is the subject of a customer initiated investment related written complaint which settled for $62,199.32 on April 23, 2018 based upon accusations that Harres made false statements to the customer regarding the features on a variable annuity purchased […]

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FINRA Bars Wells Fargo Broker In Theft Investigation

Wilfred Rodriguez Jr. of Boca Raton Florida a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to comply with FINRA’s requests in an investigation into Rodriguez’s purported conversion of customer […]

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FINRA Suspends Wells Fargo Broker For Unauthorized Trading

October 04, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Timothy Jay Scherwa of Morris Plains New Jersey a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been fined $7,500.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in unauthorized trading in customer accounts. Letter of […]

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Investors Sue Wells Fargo Advisors For Churning

Sam Aziz of Dublin Ohio a stockbroker formerly employed by Wells Fargo Advisors Financial Network is the subject of a customer initiated investment related arbitration claim in which the customer requested $400,000.00 in damages founded on allegations that Aziz (1) churned the customer’s account (2) executed transactions that were not suitable for the customer and […]

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Wells Fargo Broker Hit By FINRA For Unauthorized Trading

Joseph Frederick Eschleman of Sacramento California a stockbroker formerly registered with Wells Fargo Clearing Services 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 Eschleman executed unauthorized trades in customer accounts. Letter of Acceptance Waiver and Consent No. […]

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Investor Sues Wells Fargo For Bad Recommendations

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

John Wesh of Knoxville Tennessee a stockbroker currently employed by Wells Fargo Clearing Services, LLC is referenced in a customer initiated investment related arbitration claim where the customer requested $70,937.83 in damages supported by accusations that Wesh made inappropriate investment recommendations to the customer regarding Fannie Mae equities that were ultimately purchased in the customer’s […]

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Wells Fargo Broker Fired For Unauthorized Account Access

August 25, 2018  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Vincent Charles Meleco of Albany New York a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been discharged by the firm on June 22, 2017 supported by accusations that Meleco accepted an unauthorized person’s instructions to effect trades in the Wells Fargo customer’s account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that […]

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Wells Fargo Stockbroker Fired For Unauthorized Trading

August 17, 2018  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Scott Alan Kaufman a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been terminated from employment on June 30, 2017 based upon allegations that Kaufman failed to communicate with customers about trades prior to executing them in their accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on April 26, 2018, a […]

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Investors Frivolously Accuse Wells Fargo Of Bad Tax Advice

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

John David Holshouser Junior of Danville Virginia a stockbroker currently registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related written complaint on June 8, 2018 where the customer requested damages estimated to exceed $5,000.00 in damages based upon allegations that in March 2018, Holshouser poorly advised the customer […]

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Wells Fargo Broker Fired For Mismarking Order Tickets

August 17, 2018  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News   |   0 Comments

Robert Wayne Shealy Jr. of Columbia South Carolina a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been discharged on June 28, 2018 founded on allegations that Shealy violated the procedures and policies of the firm by mismarking fixed-income order tickets as having been unsolicited. The firm concluded those orders were solicited by […]

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Wells Fargo Sued For Bad Oil And Gas Investments

August 13, 2018  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

Bryan Gerald Musso of New Orleans Louisiana a stockbroker currently employed by Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested unspecified damages based upon allegations that unsuitable oil and gas shares had been purchased by Musso in the customer’s account. Financial Industry […]

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Wells Fargo Fires Broker For Unauthorized Stealing

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

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Customer Accuses Wells Fargo Of Annuity Misrepresentation

Patrick John Ratz of Oakhurst New Jersey a stockbroker formerly employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint which settled for $15,500.00 in damages on March 2, 2018 based upon allegations that misrepresentations had been made to the customer concerning modifications to the customer’s portfolios within […]

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Wells Fargo Accused By Customer Of Annuity Fraud

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

John Barry Jenkins of Memphis Tennessee a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on April 30, 2018 where the customer sought damages estimated to exceed $5,000.00 supported by allegations that omissions had been made to the customer concerning the terms of the […]

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Investors Accuses Wells Fargo Of Unauthorized Trading

Darrell Brian Hesford of Escondido California a stockbroker currently registered with Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on April 23, 2018 where the customer requested damages estimated to exceed $5,000.00 supported by allegations that exchange traded funds were placed in the customer’s account without the customer’s […]

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Wells Fargo Broker Suspended In Theft Investigation

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

Ramon Arturo Herrera of Jersey City New Jersey a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he declined to provide FINRA information that was requested of him by the regulator. Case No. 2018057425101 […]

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Wells Fargo Accused of CD Fraud

June 30, 2018  |   Posted by :   |   FINRA Securities Arbitration, Stockbroker Fraud News   |   0 Comments

John Perrin Kellar of Fort Lauderdale Florida a stockbroker currently employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on April 23, 2018 in which the customer requested damages estimated to exceed $5,000.00 founded on accusations that the customer was placed in unsuitable certificate of deposit investments […]

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Wells Fargo Broker Fired For Unauthorized Trading

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

Daniel Paul Motherway of Fairfield New Jersey a stockbroker formerly employed by Wells Fargo Advisors LLC has been terminated on November 6, 2015 based upon allegations that Motherway violated the firm’s policies by engaging in unauthorized trading. FINRA Public Disclosure additionally confirms that Motherway was subsequently registered with UBS Financial Services Inc. on November 6, […]

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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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Wells Fargo Accused By Customer Of Ignoring Instructions

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

Daniel John Bezik of Mentor Ohio a stockbroker currently registered with Wells Fargo Advisors Financial Network LLC is the subject of a customer initiated investment related written complaint on January 5, 2018 where the customer requested damages estimated to exceed $5,000.00 founded on accusations that between December 15, 2016 and January 5, 2018, Bezik neglected […]

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Customer Blames Wells Fargo For Unauthorized Trading

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

Daniel Todd Tompkins of Boca Raton Florida a stockbroker currently employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on February 20, 2018 where the customer sought $200,000.00 in damages based upon accusations that on February 28, 2017, equities were sold from the customer’s investment portfolio without […]

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Wells Fargo Broker Barred In Theft Investigation

Marcus Duane Parker of Santa Fe New Mexico a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into allegations that he misappropriated funds […]

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SEC Bars Wells Fargo Stockbroker For Securities Fraud

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

Deborah Diane Burns (also known as Deborah Diane Kelley) of Piedmont California a stockbroker formerly employed by Wells Fargo Clearing Services LLC has been barred by Securities and Exchange Commission (SEC) from association with a broker or investment advisor in all capacities based upon an Order Instituting Administrative Proceedings in which Burns consented to SEC’s […]

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Wells Fargo Sued By Customer For Annuity Suitability

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

Cara Michelle Paynter of Foothill Ranch California a stockbroker currently employed by Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $150,000.00 in damages founded on accusations that Paynter poorly advised the customer regarding transactions executed in the customer’s variable annuity account. Financial Industry […]

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Wells Fargo Stockbroker Discharged For Customer Loans

May 29, 2018  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Shane Gavin Springman of Portage Michigan a stockbroker employed by Wells Fargo Clearing Services LLC has been discharged by the firm on March 6, 2018 based upon allegations that Springman violated the firm’s policies by borrowing funds from two of the firm’s customers. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on January 18, […]

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Wells Fargo Accused By Customer Of Unsuitable Investments

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

Randy Alan Malm of Reno Nevada a stockbroker formerly employed by Wells Fargo Advisors is referenced in a customer initiated investment related written complaint on October 5, 2017 in which the customer requested $5,000.00 in damages founded on accusations that Malm failed to effect transactions in the customer’s self-directed investment account that matched the customer’s […]

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Customer Accuses Wells Fargo Of Mutual Fund Fraud

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

Joseph Robert Hamo of Flint Michigan a stockbroker formerly employed by Wells Fargo Clearing Services LLC is referenced in a customer initiated investment related written complaint on February 19, 2016 where the customer alleged that the customer’s assets were placed in mutual funds between 2015 and 2016 that were not appropriate for the customer given […]

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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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Customer Sues Wells Fargo Of Annuity Fraud

April 18, 2018  |   Posted by :   |   Annuity Schemes, Stockbroker Fraud News   |   0 Comments

Scott Richard Edgemont of Rye New York a stockbroker currently registered with Wells Fargo Clearing Services LLC is the subject of a customer initiated investment related civil action brought in the Supreme Court of the State of New York which has been settled to resolve accusations that Edgemont placed transactions in the customer’s account that […]

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FINRA Bars Wells Fargo Broker For Conversion

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

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

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Wells Fargo Stockbroker Terminated For Selling Away

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

David Manor of Boston Massachusetts is a stockbroker formerly registered with Wells Fargo Clearing Services LLC who has been terminated from employment on January 9 2019 based upon accusations that he recommended that a customer effect a securities transaction away from Wells Fargo and then helped facilitate a private securities transaction. Financial Industry Regulatory Authority […]

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FINRA Charges Wells Fargo Broker With Obstruction

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

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

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Wells Fargo Terminates Broker For Unauthorized Trading

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

Steven Jude Meleco is a stockbroker formerly registered with Wells Fargo Clearing Services LLC who has been terminated on November 10 2017 founded on accusations that he effected trades in a customer’s account without authorization. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on August 13, 2015, a customer initiated investment related written complaint […]

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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 Broker Fired For Unapproved Customer Loan

February 19, 2018  |   Posted by :   |   Customer Loans, Stockbroker Fraud News   |   0 Comments

Linda Sue Zara of Boca Raton Florida is a stockbroker associated with Wells Fargo Clearing Services who has been fired in December 2017 based upon accusations that she executed an unapproved customer loan arrangement in violation of Wells Fargo’s policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that a customer initiated investment related arbitration […]

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Morgan Stanley Broker Fined By FINRA For Suitability

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

Richard Alan Shotz, of Ormond Beach, Florida, a stockbroker formerly registered with Morgan Stanley, has been fined $7,500.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by consenting to findings that he placed short-term unit investment trust trades in customer accounts that were not […]

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FINRA Fines Wells Fargo Broker For Unauthorized Trading

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

Gary Raymond Gray of Las Vegas, Nevada, a stockbroker associated with Wells Fargo Clearing Services, has been fined $10,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized trades in customer accounts and mismarked trading tickets. Letter […]

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Wells Fargo Sued For Unauthorized Trading

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

Howard Barry Steinman of Coral Springs, Florida, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, is the subject of a customer initiated investment related civil action brought in the Circuit Court of Broward, Florida, in which the customer requested more than $5,000.00 in damages supported by accusations that Steinman effected unauthorized transactions in […]

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Customer Accuses Morgan Stanley Of Excessive Trading

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

James Morgan Levitt of New York, New York, a stockbroker associated with Morgan Stanley, is the subject of a customer initiated investment related written complaint, which settled on June 19, 2017 for $9,000.00 in damages supported by allegations that between March 1, 2014 and December 31, 2014, Levitt executed excessive trades relating to closed-end funds, exchange […]

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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 Broker Suspended For Unauthorized Trading

December 15, 2017  |   Posted by :   |   Stockbroker Fraud News   |   0 Comments

Joseph Abbate, of Garden City, New York, a stockbroker formerly 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 by consenting to findings that he placed trades in customer investment accounts without their approval. Letter of Acceptance, Waiver and […]

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Customer Sues UBS Financial For Suitability

November 21, 2017  |   Posted by :   |   Over Concentration, Stockbroker Fraud News, Suitability   |   0 Comments

William John Paynter Jr. of Scottsdale, Arizona, a stockbroker formerly registered with UBS Financial Services Inc., is the subject of a customer initiated investment related arbitration claim on June 28, 2017, in which the customer requested $500,000.00 in damages based upon allegations of breach of contract, breach of fiduciary duty, negligence, and suitability regarding oil […]

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Wells Fargo Sued By Customer For Suitability

November 07, 2017  |   Posted by :   |   Over Concentration, Suitability   |   0 Comments

Daniel Fain, of Boca Raton, Florida, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related arbitration claim, in which the customer requested $280,000.00 in damages based upon allegations that Fain concentrated the customers’ investments in unsuitable stocks. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-03290 […]

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Wells Fargo Stockbroker Fired For FINRA Suspension

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

Dennis McNamara Jr. of Bogota, New Jersey, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, was fired on August 24, 2017, based upon McNamara’s failure to make regulatory disclosures to Financial Industry Regulatory Authority (FINRA) about judgments and liens placed against him. FINRA fined McNamara $5,000.00 and suspended him in all capacities as […]

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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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US Bancorp Broker Fined For Outside Business Activities

October 16, 2017  |   Posted by :   |   Annuity Schemes   |   0 Comments

Charles Anderson Cumber Jr., of Albuquerque, New Mexico, a stockbroker formerly registered with U.S. Bancorp Investments, Inc., was fined $7,500.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he engaged in unapproved outside business activities involving insurance and equity-indexed annuities. […]

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Customer Sues Wells Fargo For Suitability

October 05, 2017  |   Posted by :   |   Suitability   |   0 Comments

Pamela McGee Adams of Irvine, California, a stockbroker formerly registered with Wells Fargo Clearing Services, LLC, is the subject of a customer initiated investment related arbitration claim on September 5, 2017, in which the customer sought $53,510.85 in damages supported by allegations that from February 17, 2016 to April 11, 2017, Adams made unsuitable investment […]

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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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Morgan Stanley Sued For Failure To Supervise

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

Richard Thomas Lucker, of Tuscon, Arizona, a stockbroker formerly registered with Morgan Stanley, has been identified in a customer initiated investment related arbitration claim on March 17, 2017, where the customer requested $14,447,501.00 in damages based on allegations that Lucker failed to supervise the customer’s investment account. Since March 3, 2014, he has been employed […]

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Wells Fargo Advisor Sued By Customer For Suitability

September 14, 2017  |   Posted by :   |   Bond Fraud   |   0 Comments

Dominick Giovannone, of Manalapan, New Jersey, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, is the subject of a customer initiated investment related written complaint on November 13, 2015, in which the customer requested $15,273.00 in damages based upon allegations that Giovannone made unsuitable investment recommendations to the customer concerning the holding of […]

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Wells Fargo Sued For Failure To Supervise

September 14, 2017  |   Posted by :   |   Closed End Funds, Stockbroker Fraud News   |   0 Comments

Kevin Foster Friedman, of Woodland Hills, California, a stockbroker formerly registered with Wells Fargo Clearing Services, is the subject of a customer initiated investment related arbitration claim, which settled for $1,100,000.00 in damages on May 2, 2017, based upon allegations of the failure to supervise a financial advisor who effected faulty closed-end fund transactions in […]

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RBC Capital Markets Broker Fined For Unauthorized Trades

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

Michael Amundson, of Fargo, North Dakota, a stockbroker formerly registered with RBC Capital Markets, 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 he effected unauthorized trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No. 2016051091101 […]

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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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Wells Fargo Sued For Suitability

August 02, 2017  |   Posted by :   |   Suitability   |   0 Comments

Keith Alva Fontenot, of Lafayette, Louisiana, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, is the subject of a customer initiated investment related arbitration claim on May 11, 2017, in which the customer requested $80,000.00 in damages based upon allegations that Fontenot made unsuitable investment recommendations to the customer concerning equities and direct […]

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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 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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Wells Fargo Fires Stockbroker For Taking Documents

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

Leland Merritt Fruhman, of Houston, Texas, a stockbroker registered with Wells Fargo Clearing Services, was terminated from employment on May 1, 2017, based upon allegations that he took unauthorized possession of the firm’s documents. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Fruhman has been identified in four customer initiated investment related disputes concerning […]

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Wells Fargo Stockbroker Barred

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

James R. Schaedler, Jr. of Anaheim, 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 based upon consenting to findings that he obstructed a FINRA investigation into allegations of obtaining improper gifts from customers. Letter of Acceptance, […]

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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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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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Customer Brings Arbitration Against Morgan Stanley Smith Barney

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

Travis Kent Dillard, of Tucson, Arizona, a stockbroker formerly registered with Morgan Stanley, has been named in two customer initiated investment related arbitration claims on October 28, 2017, in which the customers collectively requested $1,000,000.00 in damages based upon allegations that Dillard, between 2011 and 2015, effected over-the-counter equity transactions in their accounts despite the […]

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Customer Arbitrations Filed Against Wells Fargo Clearing Services

John George Marakas III, of Beverly Hills, California, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in a customer initiated investment related written complaint on March 11, 2016, in which the customer requested more than $5,000.00 in damages based upon allegations that Marakas failed to abide by the customer’s stop […]

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Wells Fargo Stockbroker Barred In Investigation

May 25, 2017  |   Posted by :   |   Stockbroker Fraud News, Stockbroker Theft   |   0 Comments

Scott Sherwin Polish, of Mentor, Ohio, 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 obstructed a FINRA investigation into allegations that Polish converted customer funds. Letter of Acceptance, Waiver and Consent, […]

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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 Stockbroker Fired For Misconduct

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

Gregory John Chachas Jr., of La Jolla, California, a stockbroker registered with Wells Fargo Clearing Services, LLC, was terminated from employment on February 2, 2017, based upon allegations that he violated his firm’s policies by failing to report conflicts of interest to his firm in reference to Chachas’ securities transactions. Financial Industry Regulatory Authority (FINRA) […]

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Customer Sues Morgan Stanley For Unauthorized Trading

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

Richard Jay Bernstein, of Beverly Hills, California, a stockbroker formerly registered with Morgan Stanley, has been named in a customer initiated investment related arbitration claim on February 1, 2017, in which the customer requested $81,738.82 in damages based upon allegations that Bernstein placed unsuitable and unauthorized equity trades in the customer’s investment account. Financial Industry Regulatory […]

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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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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 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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Merrill Lynch Broker Sued For Misrepresentation

Robert Michael Giusti, of New York, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Inc., has been named in a customer initiated investment related arbitration claim on April 24, 2015, in which a customer was ultimately awarded $300,000.00 in damages based upon allegations that from 2010 to 2015, Giusti made […]

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Wells Fargo Named In Customer Arbitrations Alleging Unsuitability

Charles Henry Frieda, of Irvine, California, a stockbroker currently registered with Wells Fargo Clearing Services, LLC, has been named in thirty-two customer initiated investment related disputes between October 6, 2014, and October 25, 2016, which have collectively settled for $5,268,553.00 in damages based upon allegations that Frieda effected unsuitable transactions in the customers’ accounts, which […]

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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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Merrill Lynch Named In Customer Securities Arbitration

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

Thomas Alan Braley, of Saginaw, Michigan, a stockbroker and financial advisor formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related arbitration claim which settled on December 2, 2016 for $75,000.00 in damages. The customer’s claim was based upon allegations that between January of 2013 and […]

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