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Securities Fraud Blog

Securities Fraud Blog

Ex-NFP Advisor Services Rep Robert J Regan Suspended for Improper Private Securities Transactions

After FINRA fined and suspended former NFP Advisor Services, LLC (Danville, CA) broker Robert Joseph Regan for selling unapproved private securities, the Certified Financial Planner (CFP) Board of ...
Continue reading "Ex-NFP Advisor Services Rep Robert J Regan Suspended for Improper Private Securities Transactions" »

Ex-Ameriprise Brokers Jack McBride and Stuart Pearl Cited by FINRA for Improper Margin Trades

FINRA fined and suspended former Amerprise Financial Services brokers Jack B McBride and Stuart L Pearl for misconduct related to use of margin in customer accounts, while McBride additionally ...
Continue reading "Ex-Ameriprise Brokers Jack McBride and Stuart Pearl Cited by FINRA for Improper Margin Trades" »

Ex-Western International Securities Brokers Brittney J Sias, Clement Chichester Barred by FINRA

FINRA barred former Western International Securities, Inc. brokers Brittney Jade Sias and Clement Lancelot Chichester of the firm's Westlake Village, California branch for failing to cooperate ...
Continue reading "Ex-Western International Securities Brokers Brittney J Sias, Clement Chichester Barred by FINRA" »

SEC Charges Tweed Investment Services and Owner Robert Tweed with Fraud in Athenian Fund Scheme

An SEC complaint filed in the Central District of California alleges that Tweed Financial Services, Inc. and its owner, Robert Russel "Rusty" Tweed, committed fraud through a series of ...
Continue reading "SEC Charges Tweed Investment Services and Owner Robert Tweed with Fraud in Athenian Fund Scheme" »

Mike Crowe Sanctioned for Soliciting Investments in Undisclosed Real Estate Security with Unpaid Returns

FINRA fined, suspended, and ordered former Securities America, Inc. broker Michael Anton Crowe of Mesa, Arizona pay disgorgment for failing to disclose a private securities transaction for ...
Continue reading "Mike Crowe Sanctioned for Soliciting Investments in Undisclosed Real Estate Security with Unpaid Returns" »

Sandlapper Securities Accused of Charging $8 Million in Fraudulent Markups for Saltwater Disposal Well Private Placements

FINRA filed a complaint against Sandlapper Securities, LLC, as well as brokers Trevor Lee Gordon and Jack Charles Bixler, accusing the respondents of willfully defrauding investors by selling ...
Continue reading "Sandlapper Securities Accused of Charging $8 Million in Fraudulent Markups for Saltwater Disposal Well Private Placements" »

Charles Cumber Sanctioned for Undisclosed Outside Business Activity and False Attestation

FINRA fined Brokers International Financial Services, LLC representative Charles Anderson Cumber, Jr. of the firm's Albuquerque, New Mexico branch, for undisclosed selling away from his ...
Continue reading "Charles Cumber Sanctioned for Undisclosed Outside Business Activity and False Attestation" »

Ex-LPL Rep Sonya D Camarco Charged with Securities Fraud and Theft in Colorado

The Colorado Securities Division charged former LPL Financial broker Sonya D Camarco aka Sonya D Fatchett of Colorado Springs with six counts of securities fraud and seven counts of theft. The ...
Continue reading "Ex-LPL Rep Sonya D Camarco Charged with Securities Fraud and Theft in Colorado" »

Ex-Royal Alliance, Next Financial, and Dominion Investment Rep Roger Hudspeth Pleads Guilty to $6 Million Fraud

Former Dominion Investment Advisors LLC owner Roger Odell Hudspeth II pleaded guilty to one count of investment adviser fraud and one count of conducting unlawful monetary transactions, the Department ...
Continue reading "Ex-Royal Alliance, Next Financial, and Dominion Investment Rep Roger Hudspeth Pleads Guilty to $6 Million Fraud" »

Sharon Kwan (Quan) Fined and Suspended for Undisclosed Outside Business Activities, Joint Bank Account with Client

FINRA fined and suspended representative Sharon Melinda Kwan aka Sharon Chen or Mei Man Quan of Royal Alliance Associates' Arcadia, California branch for participating in undisclosed real estate ...
Continue reading "Sharon Kwan (Quan) Fined and Suspended for Undisclosed Outside Business Activities, Joint Bank Account with Client" »

Morgan Stanley Ordered to Pay Over $13 Million for Unit Investment Trust (UIT) Supervisory Failures

FINRA sanctioned Morgan Stanley Smith Barney and ordered the firm to pay over $13 million—$3.25 million in fines and an additional $9.78 million in restitution to over 3,000 customers—for ...
Continue reading "Morgan Stanley Ordered to Pay Over $13 Million for Unit Investment Trust (UIT) Supervisory Failures" »

Arbitration Panel Orders Barred Broker Li-Lin Hsu, Ameriprise Financial to Pay $675,000 for Alleged Misrepresentation and Misappropriation of Customer Funds

A FINRA arbitration panel ordered former Los Angeles-area broker Li-Lin Hsu of Ameriprise Financial Services to pay $675,000 in damages to her former employer, Ameriprise. The award is unusual as it ...
Continue reading "Arbitration Panel Orders Barred Broker Li-Lin Hsu, Ameriprise Financial to Pay $675,000 for Alleged Misrepresentation and Misappropriation of Customer Funds" »

SII Investments Charged with REIT Supervisory Failures in Liquid Net Worth Overvaluations

The Commonwealth of Massachusetts' Securities Division charged SII Investments, Inc. with dishonest and unethical conduct, including supervisory failures, in allowing "systematic" ...
Continue reading "SII Investments Charged with REIT Supervisory Failures in Liquid Net Worth Overvaluations" »

Former LPL Financial San Diego Broker Marc Ravenscroft Barred for Conversion, Use of Phony Expense Reports

FINRA barred ex-LPL Financial broker Marc Mitchell Ravenscroft, formerly of the firm's San Diego branch, for converting $16,299 from LPL as improper reimbursements for expenses while failing to ...
Continue reading "Former LPL Financial San Diego Broker Marc Ravenscroft Barred for Conversion, Use of Phony Expense Reports" »

Mehran 'Ron' Tazhibi Sanctioned for Unsuitable Speculative Bond Recommendation to Retired Clients

FINRA suspended former Citigroup Global Markets, Merrill Lynch, and Fidelity Brokerage Services rep Mehran Tazhibi aka Ron Tazhibi of Northern California for unsuitably recommending that two retirees ...
Continue reading "Mehran 'Ron' Tazhibi Sanctioned for Unsuitable Speculative Bond Recommendation to Retired Clients" »

With 33rd Disclosure Since 2002, Broker Tiffany Ann De Ruosi (Rigali), Criminal Record in Hand, is Suspended

FINRA fined and suspended former Centaurus Financial, Inc. and Brookstreet Securities Corporation (both Newport Beach, CA) broker Tiffany Ann De Ruosi (aka Tiffany DeRuosi, who has since married and ...
Continue reading "With 33rd Disclosure Since 2002, Broker Tiffany Ann De Ruosi (Rigali), Criminal Record in Hand, is Suspended" »

"Massive Energy" Broker John Kai Barred After Undisclosed Private Securities Transactions, Outside Business & Discretion Investigation

John Kaleihiehie Kai, formerly of First Allied Securities' Hilo, Hawaii branch, and who once challenged potential clients to Google him before investing, has himself received a permanent bar from ...
Continue reading ""Massive Energy" Broker John Kai Barred After Undisclosed Private Securities Transactions, Outside Business & Discretion Investigation" »

Ex-JP Morgan Securities Rep Todd Jason Jones Sanctioned for Unauthorized Trading in Complex ETN

FINRA suspended former JP Morgan Securities broker Todd Jason Jones and fined him $15,000 for exercising discretion in customer accounts without authorization to purchase over $200,000-worth of ...
Continue reading "Ex-JP Morgan Securities Rep Todd Jason Jones Sanctioned for Unauthorized Trading in Complex ETN" »

SEC Bars JL Capital Management's Jeremy Licht for Fraudulent Cherry-Picking Trade Scheme That Harmed Clients

46-year-old investment advisor Jeremy A. Licht of Sherman Oaks, California engaged in a fraudulent trading scheme during which he allocated a disproportionate number of favorable trades to his account ...
Continue reading "SEC Bars JL Capital Management's Jeremy Licht for Fraudulent Cherry-Picking Trade Scheme That Harmed Clients" »

Joseph Yanofsky Fined $10k for Unauthorized Use of Discretion, Directing Unlicensed Subordinate to Enter Trades

FINRA suspended and fined former Merrill Lynch and current First Financial Equity Corporation (both of Greenwood Village, Colorado) broker Joseph "Joe" Ira Yanofsky for exercising discretion ...
Continue reading "Joseph Yanofsky Fined $10k for Unauthorized Use of Discretion, Directing Unlicensed Subordinate to Enter Trades" »

Nancy Johnson Sanctioned for Repeated False Statements to Morgan Stanley in Fraudulent Wire Transfer to Imposter

Former Morgan Stanley broker Nancy L. Johnson allegedly provided the firm's Greenwood Village, Colorado branch with false information on multiple occasions, resulting in a wire transfer of $86,000 ...
Continue reading "Nancy Johnson Sanctioned for Repeated False Statements to Morgan Stanley in Fraudulent Wire Transfer to Imposter" »

William Glaser Barred, Under Federal Investigation Related to Fraud Indictment, After 76-Year-Old Navy Vet Suffers $400,000 Private Placement Loss

FINRA barred William "Bill" August Glaser for failing to cooperate into an investigation surrounding his termination from National Planning Corporation of St. Albans Rd, Missouri. According ...
Continue reading "William Glaser Barred, Under Federal Investigation Related to Fraud Indictment, After 76-Year-Old Navy Vet Suffers $400,000 Private Placement Loss" »

Colorado Broker Bruce Page Barber Barred in Outside Business Activity Investigation

After Securities America discharged representative Bruce Page Barber of the firm's Colorado Springs branch based on allegations that he participated in an unapproved outside business activity and ...
Continue reading "Colorado Broker Bruce Page Barber Barred in Outside Business Activity Investigation" »

Jeffrey Alan Smith is the Latest Ex-Accelerated Capital Group Broker Cited for Pre-Signed, Altered Forms

FINRA sanctioned former Accelerated Capital Group (Irvine, CA) broker and supervisor Jeffrey Alan Smith for making unauthorized photocopies of customer signatures, using pre-signed and altered forms, ...
Continue reading "Jeffrey Alan Smith is the Latest Ex-Accelerated Capital Group Broker Cited for Pre-Signed, Altered Forms" »

FINRA Sanctions Elaine LaCerte for Unsuitable UIT Sales, Causing Unnecessary Sales Charges

Former Morgan Stanley broker Elaine Diones LaCerte (Helzer) of Colorado Springs, CO received a fine and suspension into 2018 for engaging in an "unsuitable pattern" of short-term trading of ...
Continue reading "FINRA Sanctions Elaine LaCerte for Unsuitable UIT Sales, Causing Unnecessary Sales Charges" »
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The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
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