Investors Sue Wedbush In Zirk De Maison Scandal
Timary Ann Delorme (also known as Timary Ann Koller) of Los Angeles California a stockbroker formerly registered with Wedbush Securities Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $100,000.00 in damages supported by accusations that (1) a written investment contract had been breached (2) fraudulent misrepresentations were made to the customer concerning over-the-counter equities trades effected in the customer’s account and (3) fiduciary obligations were not complied with by Delorme during the period in which she was associated with Wedbush Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01923 (June 27, 2019).
FINRA Public Disclosure reveals that Delorme is identified in three more customer initiated investment related disputes containing allegations of her violative conduct while she was employed with Wedbush Securities Inc. Specifically, Delorme is referenced in a customer initiated investment related arbitration claim which was resolved for $265,000.00 in damages founded on accusations including breach of fiduciary duty; violation of California securities laws; negligence; unsuitable trading; unauthorized trading; omissions and misrepresentations; and fraud relating to the options and over-the-counter equities trades made by Delorme when she was associated with Wedbush Securities.
Another customer initiated investment related arbitration claim regarding Delorme’s conduct was settled for $50,000.00 in damages based upon allegations that options and over-the-counter equities trades were executed by the stockbroker in violation California securities law; fiduciary and contractual duties were breached; and investment recommendations were negligent. Delorme is the subject of another customer initiated investment related arbitration claim which was resolved for $450,000.00 in damages supported by accusations of contractual obligations being violated; fiduciary duties being breached; and false or misleading statements by Delorme made with the intent to defraud the customer. FINRA Arbitration No. 17-01923 (June 27, 2019).
FINRA Public Disclosure additionally reveals that Delorme has been barred by Securities and Exchange Commission (SEC) from being a stockbroker or investment advisor representative or otherwise associating with a securities broker dealer or investment advisory according to an Order containing findings that Delorme engaged in fraudulent securities transactions. In the Matter of Timary Delorme Administrative Proceeding File No. 3-18410 (Mar. 27, 2018).
According to the Order, Delorme played a part in a fraudulent pump and dump scheme engineered by Izak irk Engelbrecht (also known as Zirk De Maison). SEC stated that stock of microcap issuers under Englebrecht’s control had been manipulatively traded, and those stocks had been purchased by Delorme for accounts of Wedbush Securities customers in return for compensation which was concealed from investors. SEC also indicated that Delorme and Engelbrecht engaged in matched trading with respect to the stocks of companies Englebrecht controlled. SEC determined that Delorme’s conduct was violative of Securities Exchange Act of 1934 Section 10(b) and Rule 10b-5.
Delorme’s stockbroker registration in the State of Oregon has also been revoked according to an Order issued by Oregon Division of Financial Regulation founded on allegations of Delorme’s manipulative trading. Case No. S-18-0035 (June 14, 2018).