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Securities Fraud Blog

Securities Fraud Blog

Woodbridge Group of Companies, LLC, Under SEC Investigation for $1 Billion Fraud as Fund Misses Notes Payment

The Securities and Exchange Commission is investigating embattled California luxury real estate developer Woodbridge Group of Companies, LLC, with SEC officials claiming the company directly and ...
Continue reading "Woodbridge Group of Companies, LLC, Under SEC Investigation for $1 Billion Fraud as Fund Misses Notes Payment" »

NEXT Financial to Pay $750,000 in Latest Disciplinary Action Concerning Habitual Deficiencies and Systematic VA Failures

FINRA fined NEXT Financial Group, Inc. $750,000 for inadequate oversight and supervisory deficiencies related to excessive trading detection, failure to perform reviews, and additional compliance ...
Continue reading "NEXT Financial to Pay $750,000 in Latest Disciplinary Action Concerning Habitual Deficiencies and Systematic VA Failures" »

Spencer Edwards' Steven Quoy Suspended for Issuing Misleading Sales Materials for Advertising Sign Investments

FINRA fined and suspended Steven Quoy, of Spencer Edwards, Inc. in Centennial, Colorado, for distributing issuer-prepared sales materials to potential customers that were misleading, omitted material ...
Continue reading "Spencer Edwards' Steven Quoy Suspended for Issuing Misleading Sales Materials for Advertising Sign Investments" »

Anthony Sica Sanctioned for Recommending Unsuitable High-Risk Securities to Elderly Customer and Unauthorized Trading in Dead Client's IRA Account

FINRA fined and suspended Joseph Gunnar & Co. broker and managing director Anthony J Sica for making unsuitable recommendations to an elderly customer living on a fixed income, resulting in an ...
Continue reading "Anthony Sica Sanctioned for Recommending Unsuitable High-Risk Securities to Elderly Customer and Unauthorized Trading in Dead Client's IRA Account" »

Modesto's David Lee Reynolds Barred During Misappropriations Investigation

FINRA barred David Lee Reynolds, formerly of Principal Securities, Inc. and Allstate Financial Services, both of Modesto, California, after he failed to cooperate with an investigation into ...
Continue reading "Modesto's David Lee Reynolds Barred During Misappropriations Investigation" »

Brietburn Energy Partners (BBEPQ) Drops 99% In Value After Risks Become Reality

Once touted as a solid investment, Los Angeles-based Breitburn Energy Partners LP (over the counter as BBEPQ) suffered the fate of several oil-and-gas sector securities and Master Limited Partnerships ...
Continue reading "Brietburn Energy Partners (BBEPQ) Drops 99% In Value After Risks Become Reality" »

Seadrill Limited (NYSE: SDRL) Runs Aground with Debt Restructuring Fiasco

Touted by investment firms such as Wells Fargo and Morgan Stanley to their clients, Seadrill Limited (ticker symbol SDRL) reached its lowest price in 2017 after warning shareholders and bond owners of ...
Continue reading "Seadrill Limited (NYSE: SDRL) Runs Aground with Debt Restructuring Fiasco" »

Ex-Morgan Stanley Rep Timothy T Gibbons Suspended, to Pay $737,000 for Unsuitable Oil & Gas Over-Concentration in Elderly Accounts

FINRA suspended former Morgan Stanley broker Timothy Thomas Gibbons for unsuitable investment recommendations to five elderly and retired clients in their 70s, 80s, and 90s after Gibbons purportedly ...
Continue reading "Ex-Morgan Stanley Rep Timothy T Gibbons Suspended, to Pay $737,000 for Unsuitable Oil & Gas Over-Concentration in Elderly Accounts" »

Linn Energy MLP (NASDAQ Symbol: LINE) Was Risky and Costly

The oil-and-gas Master Limited Partnership (MLP) Linn Energy (NASDAQ: LINE) plunged its investors further into financial peril with a 2016 Chapter 11 Bankruptcy filing, while a Bankruptcy Court this ...
Continue reading "Linn Energy MLP (NASDAQ Symbol: LINE) Was Risky and Costly" »

FINRA Files Complaint Against Farid Morim from its 2016 Investigation into Alleged Conversion and Undisclosed Business Activity

In 2016, FINRA opened an investigation into former JP Morgan (Beverly Hills, CA) Vice President Farid Morim's alleged conversion of customer assets and alleged engagement in undisclosed outside ...
Continue reading "FINRA Files Complaint Against Farid Morim from its 2016 Investigation into Alleged Conversion and Undisclosed Business Activity" »

Jerry Guttman Barred for 10 Years of Unauthorized Private Securities Transactions

FINRA barred Jerry Lou Guttman, formerly of United Planners' Financial Services of America A Limited Partner in Phoenix, Arizona, for participating in private securities transactions without first ...
Continue reading "Jerry Guttman Barred for 10 Years of Unauthorized Private Securities Transactions" »

Stockbroker and Blue Line Brewery Owner Mark Gillis Pleads Guilty to Securities Fraud

Former Hudson Valley Capital Management co-owner Mark Joseph Gillis pleaded guilty to securities fraud after investigators charged him with scheming to steal nearly $400,000 from investors. FINRA ...
Continue reading "Stockbroker and Blue Line Brewery Owner Mark Gillis Pleads Guilty to Securities Fraud" »

Patricia Peterson Sanctioned for Unauthorized Discretionary Trades in WFG Accounts

Former WFG Investments, Inc. broker and present Innovation Partners LLC representative Patricia Gail Evershed Peterson of Nevada consented to a fine and suspension based on FINRA's findings that ...
Continue reading "Patricia Peterson Sanctioned for Unauthorized Discretionary Trades in WFG Accounts" »

Accused of Elder Fraud in Trying to Generate Commissions, FINRA Bars Hank Werner for Churning and Excessive Trading

A FINRA hearing panel barred broker Henry "Hank" Mark Werner for fraudulently churning an account held by a 77-year-old blind widow, resulting in hundreds of thousands of dollars of ...
Continue reading "Accused of Elder Fraud in Trying to Generate Commissions, FINRA Bars Hank Werner for Churning and Excessive Trading" »

Lisa J. Lowi Barred During Investigation into Unsuitable Trading, Unauthorized Transactions Complaints

FINRA barred former RBC Capital Markets and Janey Montgomery Scott representative Lisa Jacqueline Lowi (Lisa Vineberg) after she failed to cooperate with an investigation concerning customer ...
Continue reading "Lisa J. Lowi Barred During Investigation into Unsuitable Trading, Unauthorized Transactions Complaints" »

FINRA Bars Victor Michel for Failing to Cooperate with Investigation

FINRA barred former Financial West Group (FWG) broker Victor Michel for failing to provide requested testimony to FINRA as part of the regulator's investigations into allegations of sales practice ...
Continue reading "FINRA Bars Victor Michel for Failing to Cooperate with Investigation" »

Questar to Pay $800,000 for Overcharging Retirement Plan & Charitable Organization Customers

FINRA cited Questar Capital Corp for overcharging clients in failing to apply available sales charge waivers to eligible retirement accounts and charitable organizations, namely in transactions ...
Continue reading "Questar to Pay $800,000 for Overcharging Retirement Plan & Charitable Organization Customers" »

First Allied Securities' Masood Azad Barred After Investigation into Unapproved Private Securities Transactions

FINRA barred former First Allied Securities broker Masood "Mike" Husain Azad for allegedly failing to cooperate with an investigation into allegations he participated in unapproved ...
Continue reading "First Allied Securities' Masood Azad Barred After Investigation into Unapproved Private Securities Transactions" »

Former LPL Broker Thomas Breslin Sanctioned for Undisclosed Private Securities Transactions in Biopharma Penny Stock

FINRA fined and suspended former Thomas Joseph Breslin Jr., formerly of LPL Financial's San Diego, California branch, for engaging in private securities transactions in a penny stock without ...
Continue reading "Former LPL Broker Thomas Breslin Sanctioned for Undisclosed Private Securities Transactions in Biopharma Penny Stock" »

SLCG Study Finds Aegis Capital, Newbridge Securities Employ Most Brokers with History of Complaints

A Securities Litigation & Consulting Group (SLCG) study ranked brokerage firms based on broker complaint history, finding that nearly one quarter of all brokers employed by Aegis Capital Corp and ...
Continue reading "SLCG Study Finds Aegis Capital, Newbridge Securities Employ Most Brokers with History of Complaints" »

Bae Keun Yu Suspended for Undisclosed Outside Securities Business

FINRA suspended former Kayan Securities, Inc. broker Bae Keun Yu (aka Byron Yu) of Los Angeles for failing to disclose his involvement with Optima Koam Investments, Inc., an outside business activity ...
Continue reading "Bae Keun Yu Suspended for Undisclosed Outside Securities Business" »

Ex-Newport Coast Securities Broker George Dahl Barred in 15th Disclosure

FINRA barred former Newport Coast Securities (Irvine, California) broker George Jeffrey Dahl of Laguna Woods after he refused to provide testimony during an on-the-record interview. In 2016, FINRA ...
Continue reading "Ex-Newport Coast Securities Broker George Dahl Barred in 15th Disclosure" »

Beware Buffer Annuities - Misrepresentations and Omissions Highlight Complaints of New Risky Product

When FINRA published its 2017 Risk Control Assessment Glossary, it added a term for annuities with structured or buffered options, also referred to as "Structured Annuities" or ...
Continue reading "Beware Buffer Annuities - Misrepresentations and Omissions Highlight Complaints of New Risky Product" »

FINRA Suspends Ex-Bay Mutual Financial CEO Martin Bud Pernoll for False Statements in Fraudulent Wire Transfer Event

Former Bay Mutual Financial, LLC of Santa Monica, California owner and CEO Martin William "Bud" Pernoll consented to findings that he made false statements on attestation forms that were ...
Continue reading "FINRA Suspends Ex-Bay Mutual Financial CEO Martin Bud Pernoll for False Statements in Fraudulent Wire Transfer Event" »

Wells Fargo Ordered to Pay Restitution of $3.4 Million for Unsuitable Volatility-Linked Exchange-Traded Products

FINRA ordered Wells Fargo Advisors Financial Network, LLC and Wells Fargo Clearing Services, LLC to pay over $3.4 million in restitution to customers who purchased volatility-linked exchange-traded ...
Continue reading "Wells Fargo Ordered to Pay Restitution of $3.4 Million for Unsuitable Volatility-Linked Exchange-Traded Products" »
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The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
Located at 12711 Ventura Boulevard, Suite #440 Studio City, CA 91604. View Map
Phone: (800) 699-1881 | Local Phone: (818) 760-9880.
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