Unauthorized Trading

Archive | Unauthorized Trading

Morgan Stanley Stockbroker Barred By Regulator

November 21, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Peter Joseph Doyle of Washington, DC, a stockbroker formerly registered with Morgan Stanley, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to cooperate in a FINRA investigation into allegations of his improper conduct as referenced in his termination from Morgan […]

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FINRA Fines PHX Stockbroker For Unauthorized Trading

November 21, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Marc Augusta Reda of New York, New York, a stockbroker formerly registered with PHX Financial, Inc., has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Reda, inter alia, traded in customer accounts without authorization. Letter of […]

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Raymond James Named In Customer Complaint

November 21, 2017  |   Posted by :   |   Non-traded REITs, Unauthorized Trading   |   0 Comments

Todd Douglas Ryman, of Atlanta, Georgia, a stockbroker formerly registered with Raymond James & Associates, is the subject of a customer initiated investment related written complaint on August 16, 2017, where the customer requested $300,000.00 in damages founded on allegations that between September 6, 2016 and February 13, 2017, Ryman effected unauthorized transactions in a […]

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First Allied Stockbroker Fined For Unauthorized Trading

November 20, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Charles Terrence Lundell of Bellevue, Washington, a stockbroker formerly registered with First Allied Securities, Inc., has been fined $5,000.00 and suspended for a month from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected unauthorized trades in customers’ investment accounts. Letter of Acceptance, Waiver and […]

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Garden State Broker Terminated For Unauthorized Trading

November 20, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Jonathan William Iraggi, of Red Bank, New Jersey, a stockbroker registered with Garden State Securities, Inc., has been terminated from employment on July 11, 2017, based upon allegations that he traded in customer accounts without authorization. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on January 2, 2015, a customer filed an investment related […]

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Saxony Stockbroker Suspended For Unauthorized Trading

November 07, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

James Michael Kennedy, of Chicago, Illinois, a stockbroker formerly registered with Saxony Securities, Inc., 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 effected trades in a customer’s account without authorization. Letter of Acceptance, Waiver and Consent, No. 2015047306901 […]

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Oppenheimer Stockbroker Fined For Unauthorized Trading

November 07, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Luigi Edward Mancusi, of Lake Forrest, Illinois, a stockbroker formerly registered with Oppenheimer & Co. Inc., has been fined $10,000.00, suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity, and agreed to provide $2,966.97 in restitution to a customer by consenting to findings that Mancusi effected unauthorized transactions in the […]

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Westminster Financial Sued For Botched Investments

November 01, 2017  |   Posted by :   |   Boilerroom, Churning, Unauthorized Trading   |   0 Comments

Louis Anthony Telerico of Dayton, Ohio, a stockbroker formerly registered with Westminster Financial Securities, Inc. has been named in a customer initiated investment related arbitration claim, in which the customer requested $426,000.00 in damages based upon allegations that Telerico executed art and land based transactions that led the customer to sustain losses. FINRA Arbitration No. 17-00988 […]

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FINRA Bars Summit Stockbroker For Failure To Testify

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

Kenneth Bostian Neuner, of Dallas, Texas, a stockbroker formerly registered with Summit Brokerage Services, Inc., has been permanently barred in all capacities from associating with any Financial Industry Regulatory Authority (FINRA) member by consenting to findings that he failed to cooperate in a FINRA investigation into his unauthorized trading in Summit customers’ investment accounts. Letter […]

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Bay Mutual Stockbroker Fined For Unauthorized Trading

November 01, 2017  |   Posted by :   |   Churning, Unauthorized Trading   |   0 Comments

Martin William Pernoll, of Santa Monica, California, a stockbroker formerly registered with Bay Mutual Financial, LLC, has been fined $25,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member firm by consenting to findings that he, inter alia, executed unauthorized transactions, and failed to report customer disputes. Letter of […]

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Stifel Stockbroker Barred For Unauthorized Trading

November 01, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Coleman J. Devlin, a stockbroker formerly registered with Stifel, Nicolaus & Company, Inc., has been fined $5,000.00 and suspended from associating with any FINRA member in any and all capacities based upon allegations that he placed trades in the firm’s customer accounts without having authorization. Letter of Acceptance, Waiver and Consent, No. 2016050359301 (Oct. 18, […]

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Aegis Capital Corp Sued By Customer For Suitability

November 01, 2017  |   Posted by :   |   Churning, Unauthorized Trading   |   0 Comments

Steven Robert Luftschein, of Melville, New York, a stockbroker formerly registered with Aegis Capital Corp., has been named in a customer initiated investment related arbitration claim, where the customer has requested $269,131.00 in damages based upon allegations of breach of fiduciary duty, breach of contract, omissions and misrepresentations, excessive and unauthorized trading, and unsuitable investment […]

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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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Morgan Stanley Accused Of Unauthorized Trading

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

Mark David Rosenberg, of Atlanta, Georgia, a stockbroker registered with Morgan Stanley since November 1, 2011, is the subject of a customer initiated investment related written complaint on March 21, 2017, in which the customer alleged that Facebook shares were purchased in the customer’s account without the customer’s consent. Financial Industry Regulatory Authority (FINRA) Public […]

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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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UBS Stockbroker Fired For Unauthorized Trading

October 05, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Kristopher B. Smith, of Fargo, North Dakota, a stockbroker formerly registered with UBS Financial Services Inc., has been terminated on May 26, 2010, supported by allegations that Smith violated the firm’s policies by effecting unauthorized trading in customer accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Smith was fined $5,000.00 and suspended from […]

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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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LPL Financial Sued For Unauthorized Trading

September 22, 2017  |   Posted by :   |   Suitability, Unauthorized Trading   |   0 Comments

Sanders Lane Spangler, of San Antonio, Texas, a stockbroker formerly registered with LPL Financial LLC, has been identified in a customer initiated investment related arbitration on June 14, 2017, in which the customer requested $500,000.00 in damages based upon allegations that Spangler effected unauthorized and unsuitable equity transactions in the customer’s account. Financial Industry Regulatory […]

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Questar Capital Fires Stockbroker For Unauthorized Trading

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

Elaine Marie Zito, of Scottsdale, Arizona, a stockbroker registered with Questar Capital Corporation, has been fired on November 2, 2016, based on allegations that she violated the firm’s supervisory procedures by exercising discretion in customer accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Zito has been identified in three customer initiated investment related […]

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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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Merrill Lynch Broker Suspended For Unauthorized Trading

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

Joseph Yanofsky, of Greenwood Village, Colorado, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, 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 effected unauthorized trades in customer accounts. Letter of Acceptance, Waiver and […]

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Ameriprise Fires Advisor For Unauthorized Trading

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

Cheryle Anne Brady, of Hingham, Massachusetts, an advisor registered with Ameriprise Financial Services Inc., was fired on September 7, 2016, based upon accusations that she traded in customer accounts without authorization; the firm claimed that she exercised discretion in accounts that were not approved by the firm for purposes of discretionary trading. Financial Industry Regulatory […]

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WFG Investments Sued For Unauthorized Trading

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

Timothy Joe Hightower, of Mount Pleasant, Texas, a stockbroker formerly registered with WFG Investments, Inc., is the subject of a customer initiated investment related written complaint on May 16, 2017, in which the customer requested $5,000.00 in damages based upon accusations that Hightower effected unauthorized trades in the customer’s variable annuity. Financial Industry Regulatory Authority […]

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Freedom Investors Broker Suspended For Unauthorized Trading

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

Frederick D. Houck, of Brookfield, Wisconsin, a stockbroker formerly registered with Freedom Investors Corp., has been 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 unauthorized trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2016049678601 (Aug. […]

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Morgan Stanley Broker Suspended For Unauthorized Trading

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

Benjamin S. Burton, of Charlestown, West Virginia, a stockbroker formerly registered with Morgan Stanley, has been fined $7,500.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected trades in a customer’s accounts without the customer’s consent. Letter of Acceptance, […]

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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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Stifel Nicolaus Fires Broker For Unauthorized Trading

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

Coleman Joseph Devlin, of Baltimore, Maryland, a stockbroker formerly registered with Stifel, Nicolaus & Company Incorporated, was fired on June 28, 2016, based upon allegations that he effected unauthorized trades in customer’s investment accounts. This is not the first time that Devlin has been fired for committing misconduct while associated with a broker. Financial Industry […]

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Raymond James Broker Terminated

August 31, 2017  |   Posted by :   |   Unauthorized Trading   |   0 Comments

Jeb Curtis Bonner, of Tuscaloosa, Alabama, a stockbroker registered with Raymond James & Associates, Inc., has been fired from employment on May 16, 2017, based upon allegations that he traded in a deceased customer’s investment account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Bonner has been subject of two customer initiated investment related […]

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Regulator Bars WFG Investments Stockbroker For Suitability

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

Jay Dee Jordan, of Oklahoma City, Oklahoma, a stockbroker formerly registered with WFG Investments, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unsuitable investment recommendations to the customer, effected unauthorized transactions in the customer’s account, mismarked customer order […]

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Joseph Gunnar Broker Fined For Unauthorized Transactions

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

Keith Joseph Michelfelder, of New York, New York, a stockbroker formerly registered with Joseph Gunnar & Co. 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 effected unauthorized trades in the firm’s customer accounts. Letter of Acceptance, […]

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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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Princor Stockbroker Suspended For Unauthorized Trading

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

Ralph Edward Martin, of Washington, Illinois, a stockbroker formerly registered with Princor Financial Services Corporation, 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 effected unauthorized trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2014042877101 […]

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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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Ladenburg Thalman Stockbroker Barred

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

Elliot Harris, of Boca Raton, Florida, a stockbroker formerly registered with Ladenburg Thalmann & Co. Inc., 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 his unauthorized and unsuitable trading in customer accounts. Letter […]

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Morgan Stanley Broker Suspended For Unauthorized Trading

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

Matthew M. Serth, of McClean, Virginia, a stockbroker formerly registered with Morgan Stanley, 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 transactions in customers’ accounts. Letter of Acceptance, Waiver and Consent, No. 2016051495801 (July 31, 2017). […]

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Ameriprise Fires Broker For Unauthorized Trading

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

Stephen John Caruso, of New York, New York, a stockbroker registered with Ameriprise Financial Services, has been fired from his job on May 27, 2016, based upon allegations that he committed numerous violations of the firm’s policies. Apparently, Caruso’s faulty conduct involved exercising discretion in a customer’s account despite the account not having been approved […]

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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 BB&T For Unauthorized Trading

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

Michael Andrew Coraggio, of Hasbrouck Heights, New Jersey, a stockbroker formerly registered with BB&T Securities, LLC, is the subject of a customer initiated investment related arbitration claim , which settled on June 7, 2017, wherein the customer received $24,000.00 in damages based upon allegations that Coraggio breached his fiduciary duties, made misrepresentations and omissions to […]

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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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Customer Sues UBS For Unauthorized Trading

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

Mark Horan, of Florham Park, New Jersey, a stockbroker formerly registered with UBS Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim, which settled on October 28, 2015, for $350,000.00 in damages based upon allegations that Horan effected an unauthorized over-the-counter equity transaction for the customer. The customer indicated that […]

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Customer Sues Morgan Stanley For Unauthorized Trading

August 02, 2017  |   Posted by :   |   FINRA Securities Arbitration, Unauthorized Trading   |   0 Comments

Alex Muscati III, of Palm Harbor, Florida, a stockbroker currently registered with Morgan Stanley, is the subject of a customer initiated investment related arbitration claim on May 4, 2017, in which the customer requested $123,000.00 in damages based upon allegations that Muscati effected unauthorized structured product transactions in the customer’s account. Financial Industry Regulatory Authority […]

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Morgan Stanley Fires Broker For Unauthorized Trading

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

Michael Frank Paesano, of New York, New York, a stockbroker registered with Morgan Stanley, was terminated from employment on December 21, 2016, based upon allegations that he effected faulty investment strategies and unauthorized trades in customer accounts. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Paesano has been identified in fifteen customer initiated investment […]

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UBS Financial Services Fires Broker For Unauthorized Trading

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

David Matthew Dietrich, of Encino, California, a stockbroker registered with UBS Financial Services Inc., has been terminated from employment on February 4, 2016, based upon allegations that he effected trades in customer accounts without the customer’s consent. Apparently, Dietrich took instructions from a third party to transact in the customer’s account even though the third […]

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Capital Guardian Stockbroker Suspended For Unauthorized Trading

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

Donald Lee Bergeron, of Charlotte, North Carolina, a stockbroker formerly registered with Capital Guardian, 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 placed unauthorized trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No. […]

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Courtlandt Securities Stockbroker Suspended For Unauthorized Trading

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

Darin Richard Pastor, of Irvine, California, a stockbroker formerly registered with Courtlandt Securities Corporation, has been fined $15,000.00 by the State of Hawaii based upon consenting to findings that he engaged in unauthorized securities transactions during the time that he was not registered to effect securities sales. SEU-2014-11 (Dec. 23, 2015). Pastor was also fined […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Trading

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

Joel David Davidman, of Beverly Hills, California, 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 effected trades in twenty-seven customer accounts despite lacking authorization from the customers and the firm. […]

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Raymond James Stockbroker Fired For Unauthorized Trading

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

James Edward Lyons, of Shreveport, Louisiana, a stockbroker for Raymond James & Associates, Inc., was terminated from employment on April 28, 2017, based upon a customer’s allegations that Lyons effected trades in the customer’s investment account despite failing to first gain proper authorization from the customer. In response to his denial of any misconduct, his […]

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Morgan Stanley Stockbroker Suspended For Unauthorized Loans

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

Jaime Hazael Aguilar, of San Diego, California, 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 based upon consenting to findings that he entered into unauthorized loan arrangements with the firm’s customers. Letter of Acceptance, Waiver and Consent, No. 2016050297702 (July […]

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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 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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Joseph Stone Capital Arbitration For Unauthorized Trading

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

Phillip Carl Contino Jr., of Hauppauge, New York, a stockbroker currently registered with Joseph Stone Capital L.L.C., is the subject of a customer initiated investment related written complaint on April 28, 2015, in which the customer requested $51,000.00 in damages based upon allegations that he made misrepresentations and omissions to the customer, and effected transactions […]

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Regulator Charges UBS Financial Services Stockbroker With Unauthorized Trading

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

Robert Baldwin Del Guercio, of Iselin, New Jersey, a stockbroker formerly registered with UBS Financial Services Inc., was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that he, inter alia, effected unauthorized securities transactions in a customer’s account. Department of Enforcement v. Robert Baldwin Del Guercio, No. 2013038393601 (June 29, 2017). According […]

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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 UBS Financial Customer Sues Over UBS AG Misrepresentations

Ankit Sahu, of San Francisco, California, a stockbroker formerly registered with UBS Financial Services Inc., has been named in a customer initiated investment related arbitration claim on April 28, 2017, in which the customer requested $500,000.00 in damages based upon allegations that he effected unsuitable transactions in the customer’s investment account, and misrepresented UBS AG […]

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Edward Jones Stockbroker Suspended For Unauthorized Trading

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

Jon Timothy VanSlooten, of Toledo, Ohio, a stockbroker formerly registered with Edward Jones, has been fined $7,500.00 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 trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, […]

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Morgan Stanley Smith Barney Stockbroker Sanctioned

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

Rafael Barela Jacinto, of New York, New York, a stockbroker formerly registered with Morgan Stanley Smith Barney, has been fined $10,000.00 and suspended for one year from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity pursuant to an Office of Hearing Officers Decision & Order of Offer of Settlement containing findings […]

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Herbert J Sims Stockbroker Sanctioned For Unauthorized Trading

July 03, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Larry Charles Wolfe, of Boca Raton, Florida, a stockbroker formerly registered with Herbert J. Sims & Co. Inc., 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 […]

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Stifel Nicolaus Stockbroker Sanctioned For Unauthorized Trading

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

Donald Lee Stark, of Waterloo, Iowa, a stockbroker currently registered with Stifel, Nicolaus & Company, Incorporated, 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 a customer’s account without the customer’s consent. Letter of Acceptance, […]

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LPL Financial Stockbroker Fired for Misconduct

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

Angelo Talebi, of Sherman Oaks, California, a stockbroker formerly registered with LPL Financial Services, was terminated from employment on September 14, 2016, based upon allegations of his misconduct in the handling of his business activities. Less than a year prior to Talebi’s termination, he was fined $10,000.00 and suspended from associating with any Financial Industry […]

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JP Morgan Securities Stockbroker Fired

July 03, 2017  |   Posted by :   |   Bond Fraud, Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Mohamed Farrag Ahmed, from New York, New York, a stockbroker registered with J.P. Morgan Securities LLC, was terminated from employment on November 17, 2016, based upon allegations that he caused his assistant to make investment related misrepresentations concerning securities, and effected unauthorized transactions in a customers account. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals […]

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Edward Jones Stockbroker Sanctioned For Unauthorized Trading

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

Mark Stewart Saunders, of Monroe City, Missouri, a stockbroker currently registered with Edward Jones, 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 exercised discretion in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2016048658302 (June 9, […]

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Merrill Lynch Stockbroker Barred In Investigation

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

Blake P. King, of Atlanta, Georgia, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that King obstructed a FINRA investigation into allegations that he effected unauthorized trades in […]

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First Midwest Stockbroker Suspended For Unauthorized Trading

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

Stephen James Sullivan, of Garden City, New York, 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 traded in two customers’ investment accounts on a discretionary basis. Letter of Acceptance, Waiver and Consent, No. 2014039219802 (Feb. 3, 2016). […]

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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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Morgan Stanley Stockbroker Charged With Fraud

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

Kim Dee Isaacson, of Salt Lake City, Utah, a stockbroker formerly registered with Morgan Stanley, was charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Isaacson made omissions and misrepresentations to a firm customer concerning transactions effected in the customer’s account, and traded in a customer’s account without authorization; conduct that FINRA […]

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Brookstone Securities Sued For Churning

Elvin J. Lopez, of New York, New York, a stockbroker formerly registered with Brookstone Securities, Inc., has been named in a customer initiated investment related arbitration claim, which settled on April 12, 2017, for $31,276.98 in damages based upon allegations that he made misrepresentations to the customer, breached his fiduciary and contractual duties, negligently managed […]

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Voya Financial Stockbroker Fired For Cause

James Travis Flynn, of Greenville, South Carolina, a stockbroker registered with Voya Financial Advisors, Inc., has been terminated from employment on February 10, 2017, based upon allegations that he misled the firm in the course of the firm’s investigation of a complaint that involved Flynn’s activities. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that […]

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LPL Financial Stockbroker For Unauthorized Trading

June 13, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Stephen J. Kaufman, of Freehold, New Jersey, a stockbroker formerly registered with LPL Financial 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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Edward Jones Broker Suspended For Unauthorized Trading

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

Laurence M. Rothstein, of Cumming, Georgia, a stockbroker formerly registered with Edward Jones, 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 effected unauthorized transactions in customer accounts and entered false customer account information into his firm’s records […]

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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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Northwestern Mutual Services Complaint Alleges Unauthorized Transactions

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

Sampson Pearson Junior, of Charlotte, North Carolina, a registered representative formerly associated with Northwestern Mutual Investment Services, has been named in a customer initiated investment related written complaint on April 12, 2017, in which the customer requested more than $5,000.00 in damages based upon allegations that he effected unauthorized transactions in the customer’s account. FINRA […]

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Morgan Stanley Broker Terminated For Unauthorized Trading

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

Peter Joseph Doyle, of Bethesda, Maryland, a stockbroker registered with Morgan Stanley Smith Barney, was terminated from employment on June 24, 2016, based upon allegations that he traded in customers’ investment accounts in a manner that violated the firm’s procedures and policies. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Doyle has been named […]

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Aegis Capital Corp Suspended For Unauthorized Trading

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

David Bruce Drucker, of New York, New York, a stockbroker formerly registered with Aegis Capital Corp, 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 trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. […]

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LPL Financial Stockbroker Suspended For Unauthorized Trading

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

James Anthony Nelson, of Evans City, Pennsylvania, a stockbroker formerly registered with LPL Financial LLC, 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 effected unauthorized transactions in customers’ accounts. Letter of Acceptance, Waiver and Consent, No. 2016050825301 (May […]

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SunTrust Investment Services Stockbroker Barred

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

Timothy John Reed, of Bristow, Washington, a stockbroker formerly registered with SunTrust Investment Services, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to provide a response to FINRA’s informational request. Letter No. 2016049929801 (Apr. 24, 2017). FINRA Public Disclosure also […]

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Garden State Securities Broker Suspended for Unauthorized Trading

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

Terry Lee Brodt Jr., of Red Bank, New Jersey, a stockbroker currently registered with Garden State Securities, Inc., 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 effected trades in customer accounts on a discretionary basis, and failed […]

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National Securities Stockbroker Suspended For Unauthorized Trading

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

Ralph Brian Marra, of Eatontown, New Jersey, a stockbroker currently registered with National Securities Corporation, 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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Morgan Stanley Stockbroker Charged By Regulators

Andrew Todd Yocum, of Lady Lake, Florida, a stockbroker formerly registered with Morgan Stanley Smith Barney LLC, was charged by the Florida Office of Financial Regulation in a Complaint seeking sanctions against Yocum including revocation of his securities registration, fines, cease and desist, and a bar based upon allegations that Yocum effected unauthorized and unsuitable […]

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Customer Files Arbitration Claim Against NYLife Securities

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

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

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Customer Sues Merrill Lynch Alleging Unauthorized Trading

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

Daniel P. Reilly, of New York, New York, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been named in a customer initiated investment related written complaint, which settled on January 25, 2017, for $16,727.00 in damages based upon allegations that he effected unauthorized mutual fund trades in the customer’s account. […]

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Securities Arbitration Filed Against Morgan Stanley Unauthorized Trading

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

Edouard Yves Crepy, of Miami, Florida, a stockbroker currently registered with Morgan Stanley Smith Barney, has been named in a customer initiated investment related arbitration claim, which settled on July 27, 2016, for $93,385.00 in damages based upon allegations that Crepy placed unauthorized transactions in the customer’s account pertaining to Chesapeake Energy bonds, Direxion exchange […]

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Commonwealth Financial Network Stockbroker Suspended For Unauthorized Trading

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

Voigt C. Kempson, of Sparta, New Jersey, a stockbroker formerly registered with Commonwealth Financial Network, 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 a customer’s account. Letter of Acceptance, Waiver and Consent, No. […]

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Raymond James Financial Services Stockbroker Suspended

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

William H. McWilliams, of Jefferson City, Missouri, a stockbroker formerly registered with Raymond James Financial Services, Inc., has been fined $7,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected transactions in customer accounts that were not authorized by customers. Letter […]

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Summit Brokerage Services Stockbroker Under Investigation

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

Craig Gary Langweiler, of Newton, Pennsylvania, a stockbroker formerly registered with Summit Brokerage Services, Inc., was named in a Financial Industry Regulatory Authority (FINRA) Wells Notice, which indicated that a disciplinary action against Langweiler had been recommended by FINRA. Wells Notice No. 20140403477 (May. 1, 2017). The Notice indicated that from December of 2011 to […]

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Defunct Accelerated Capital Group Stockbroker Sanctioned

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

Jeffrey L. Scheibner, of Irvine, California, a registered representative formerly associated with Accelerated Capital Group, has been fined $5,000.00 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 trades in customer accounts without authorization. Letter of Acceptance, Waiver […]

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Voya Financial Advisors Stockbroker Fired For Unauthorized Trading

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

Robert Daniel Witt, of Libertyville, Illinois, a stockbroker registered with Voya Financial Advisors, Inc., has been terminated from employment on October 14, 2016, based upon the firm’s allegations that transactions were effected by Witt in a customer account despite the customer never having provided Witt with authorization. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals […]

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Revere Securities Sued By Customer For Unauthorized Trading

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

Baris Dincer, of New York, New York, a stockbroker formerly registered with Revere Securities LLC, has been named in a customer initiated investment related written complaint on June 1, 2016, in which the customer requested $45,000.00 in damages based upon allegations that Dincer effected unauthorized corporate debt transactions in the customer’s account. Financial Industry Regulatory […]

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deVere USA Stockbroker Fired For Unauthorized Trading

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

Andoni Yturralde, of New York, New York, a stockbroker registered with deVere USA Inc., has been terminated from employment on January 27, 2017, based upon allegations that Yturralde failed to cooperate with the procedures and policies of the firm, failed to effect trades in accordance with a customer’s instructions, and effected unauthorized equity transactions in […]

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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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David Lerner Associates Stockbroker Suspended For Unauthorized Trading

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

Neil Palazzo, of Syosset, New York, a stockbroker formerly registered with David Lerner and Associates, Inc., 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 transactions in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, […]

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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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FINRA Securities Arbitration Filed Against Edward Jones For Unauthorized Trading

Brian D. Addis, of Vandalia, Ohio, a stockbroker formerly registered with Edward Jones, has been named in a customer initiated investment related written complaint, which settled on January 5, 2017, for $1,966.95 in damages based upon allegations that Addis effected unauthorized equity transactions in the customer’s account in April of 2016. Financial Industry Regulatory Authority […]

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FINRA Securities Arbitration Filed Against Legend Securities

David Martin Martirosian, of Oyster Bay, New York, a stockbroker formerly registered with Legend Securities, Inc., has been named in a customer initiated investment related arbitration claim on June 11, 2015, in which the customer requested $10,696.00 in damages based upon allegations that Martirosian effected unauthorized over-the-counter equity transactions in the customer’s account. Financial Industry […]

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Waddell & Reed Stockbroker Fired For Unauthorized Trading

April 20, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

William Ferrell Albin, of Las Vegas, Nevada, a stockbroker registered with Waddell & Reed, Inc., has been terminated from employment on July 21, 2016, based upon allegations that he violated policies of the firm by exercising discretion in customer accounts without the customers’ written authorization. This is not the first time that Albin has been […]

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Cape Securities Stockbroker Suspended For Unauthorized Trading

April 20, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

David Khezri, of Holbrook, New York, a stockbroker formerly registered with Cape Securities, Inc. 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 trades in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015044589701 (Sept. […]

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Customer Files FINRA Arbitration Claim Against Aegis Capital Corp

Brian Kenneth Court, of Melville, New York, a stockbroker currently registered with Aegis Capital Corp., has been named in a customer initiated investment related written complaint on February 24, 2017, in which the customer requested $65,451.00 in damages based upon allegations that Court, from June of 2015 to November of 2016, churned the customer’s account, […]

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FINRA Arbitration Claim Against First Standard Financial For Unauthorized Trading

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

Kenneth Leopold Williams, of Staten Island, New York, a stockbroker formerly registered with First Standard Financial Company LLC, has been named in a customer initiated investment related written complaint on January 5, 2017, in which the customer requested $100,000.00 in damages based upon allegations that Williams utilized the customer’s margin without consent, and effected unauthorized […]

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BancWest Investment Services Stockbroker Charged

April 10, 2017  |   Posted by :   |   Stockbroker Fraud News, Unauthorized Trading   |   0 Comments

Corinne Renae Mittag, of Omaha, Nebraska, a stockbroker formerly registered with BancWest Investment Services Inc., has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that she effected an unauthorized transaction in a customer’s account and made false representations to her firm regarding the transaction. Department of Enforcement v. […]

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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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