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2013
June
Advice on Air: Misleading Advertising, Broker Misconduct and the Radio
SEC & FINRA Joint Alert: Beware Pump-and-Dump Scams via E-mail Spam
FINRA Investor Alert: Alternative Mutual Funds Can Carry Added Risks
Francis Martin Florey Barred for Attempting to Transfer Elderly Customer's Funds without Authorization
JP Morgan Accused of Promoting Firm's Internal Funds by Withholding Commissions on Outside Fund Sales
Jeffrey Stephen Geraci Suspended, Ordered to Pay Retired Widow Restitution for Unsuitable Recommendations
Hugh Monroe Dyson, Jr. Censured, Barred and Ordered to Pay Restitution in Connection with False Representations, Phony IRS For
FINRA Orders Wells Fargo and Merrill Lynch to Pay $5.1 Million for Unsuitable Mutual Fund Sales
SAC Capital Stops Cooperating with Government Investigation as DOJ Ramps Up Probe, Investors Flee
May
Merle Gene Walter Barred for Failure to Disclose Unethical Misconduct, Civil Judgments, Tax Lien
Andrew Lewis Pittman Barred in Relation to Elder Financial Misconduct Allegation
John Thomas Thornes Accused of Stealing $4.2 Million from Elderly Client, Scholarship Accounts
David Lloyd Barber Fined and Suspended for Improper Loans, Concealment from Firm
Barbara Mary Bolk Fined and Suspended for Forging Customer Signatures, Effecting Unauthorized Transactions
Oran Ben Carroll Suspended and Fined for Inadequate Due Diligence, Failure to Supervise
Former LPL Financial Adviser Blake Richards Charged in $2 Million Fraudulent Scheme
Massachusetts Reaches $9.6 Million Settlement with Five Firms Over Non-Traded REIT Sales
FINRA: Firms Must Adhere to Industry Rules and Be Honest with Investors
LPL to Pay Record $9 Million for Failures Related to Hundreds of Millions of E-Mail Communications
Nancy Bolt Hill Fined & Suspended for Allegedly Failing to Disclose Outside Securities Accounts
Greg John Campbell Barred in $2+ Million Misappropriation Scheme
SEC/FINRA: Selling Rights to Pension Income Streams, Investing in Third Party Pension Can Be Risky
Roman J Sledziejowski Barred for Converting $4.8 Million in Fraudulent Scheme
Sean Francis Sheridan Barred for Recommending Only Funds that Yielded Higher Commissions
Thomas Lloyd Kunkel Fined and Suspended for Unsuitable REIT Recommendations to Elderly and Unsophisticated Investor
Bill Alvin Ahlswede Fined and Suspended for False Information, Failing to Disclose Complaint Alleging Churning and Fraud
April
Kenneth Raden Miller Fined $20,000 & Suspended for Negligent Misrepresentations
aryl Marc Holzberg Suspended for Failure to Adequately Supervise, Respond to Red Flags
Sean Placido Rodriguez Suspended, Fined and Ordered to Pay Partial Restitution for Unauthorized Trading
Charles Chul Nam Barred, Ordered to Pay Restitution for Fraudulent REIT Scheme
Robert Louis Iola Jr. Fined & Suspended for Inaccurate Portfolio Valuation Summary Distributions
Jon Patrick Horvath Barred Following Fraudulent Alteration of Check, Conversion of Funds
Martin Benjamin Feibish Barred For Scheming to Misappropriate Over $5 Million From Elderly Customer Through Fake Investment Ve
Beverly Hills Stockbroker Andrew Baum Indicted on Alleged Fraudulent Promotions
Former Wound Management CEO Scott Haire Pleads Guilty to Securities Fraud
FINRA Files Order to Shut Down Success Trade Securities, Claiming Firm Scammed Investors
FINRA Increasing Scrutiny of Complex Products Marketed to Seniors
Once Granted, Permission to Trade with Discretion Can Be Problematic
FINRA Files Order to Shut Down Success Trade Securities, Claiming Firm Scammed Investors
Karl Edward Hahn Ordered to Pay $11 Million to Customer for Investment Fraud & Misrepresentation
Thomas Charles Conradt Pleads Guilty to Securities Fraud & Conspiracy in IBM Case
Fernando Castaneda-Corral Barred for Unauthorized Trades, Providing False Account Statements to Conceal Misconduct
Dominic Cammarota Barred for Possession and Use of Unauthorized Notes During Series 6 Exam
March
UBS-Sponsored Willow Fund Drops 80 Percent After Manager Sam Kim Switches to Risky Derivatives Strategy
Jon Herbert Green Suspended For Failure to Repay Elderly Customer's Loan in Timely Manner
James Martin Higgs Fined & Suspended for Selling EIAs Outside Firm
Steven Joseph Corzan Barred for Unapproved Private Securities Transactions of Positions Linked to Ponzi Scheme
LPL Financial Firm Under Fire and On Radar with Several Securities Regulators
Michael Mendenhall Barred for Borrowing from Elderly Customers, Untruthful Reply to FINRA Inquiry
Gary Reed Feldman Fined &Suspended for Improperly Soliciting Investments
Richard Grant Cody Fined & Suspended For Unsuitable and Excess Trading
Alberto Neira Barred for Failure to Disclose Outside Business, Investment Sales
Jane Elizabeth O'Brien Barred for Unauthorized $3 Million Loans, Failure to Repay Clients, Alleged Securities Fraud
Su-Chin Liu Barred In Connection with Investigation into Improper Premium Payments
SAC Capital Lawsuit Settled; Firm to Pay Record $616 Million for Insider Trading
Adorean Boleancu (Wells Fargo) Ordered to Pay $650,000 in Restitution for Improper Conversion of Funds
Scott Bailey Nelson Suspended and Fined for Fixed Indexed Annuity Sale Outside of Firm
Christian A. Molina Barred for Unauthorized Withdrawal on Altered Bank Slip
James D. Grimes Barred for Conversion of Funds After Forging Customer Signatures
Jeffrey Alan Gielau Fined & Suspended for Unauthorized Signature
Christopher Michael Frank Fined & Suspended for Unauthorized Transactions
Apple Linked Reverse Convertibles (RevCons) Prove Risky as Maturity Nears
February
Mark E. Marek Barred When Unsuitable Investment Recommendation After Client Loses Nearly $600,000
Broker Gregory Evan Goldstein Fails to Respond to FINRA Requests, Earns Suspension
John L. Gathright Jr. Barred for Misappropriating Annuity Funds After Completing VA Surrender Request Forms
Neil Copeland Winterrowd Barred for Misappropriation of $1.5 Million in Customer Funds
FINRA Investor Alert: Bond Portfolios Could be At Risk with Looming Interest Rate Hike
Jay Sheldon Potter Jr. Fined & Suspended for Confidentially Settling Complaint without Informing Firm
Jeffrey Alan Hutman Fined & Suspended in Relation to Variable Annuity Transactions Outside of Firm
Richard Lee Ell Sanctioned in Connection with Variable Annuity Transaction Charges & Complaint
Mark Everrett Friesen Fined & Suspended for Failing to Report Felony Charges
Massachusetts Regulators Order LPL Financial to Pay $2 Million in Restitution
Gabriel Arnaud Dupin De Saint Cyr Fined & Suspended After Forging Form Signatures
UBS to Change Customers' Objectives, Reclassify Clients as "Aggressive" Investors
Henry John Dellaquila Fined $55,000 and Suspended for Unauthorized Variable Annuity Transactions
January
Peter C. Bishop Fined & Suspended For Allegedly Effecting Unauthorized Trades After Customer's Death
Marshall Douglas Nelson Suspended for Unsuitable Recommendations to Elderly Customer, Restitution Ordered
Following Massachusetts Lawsuit LPL Changes ETF Compliance Policies
After Appeal, Nolan Wayne Moore Barred and Fined for Failure to Cooperate, Allegedly Engaging in Undisclosed Outside Business
Revenge of the Reverse Convertible - Apple
Douglas Gregory Bezio Fined and Suspended for Unsuitable, Unauthorized and Excessive Trading
FINRA's Five Tips for Financial Well Being
James Charles Allen Barred for Failure to Cooperate with Investigation into Material Misrepresentations and Omissions Regardin
Supreme Court to Consider Tightening SEC Suit Time Limit Rules for Fraud
Tam Thanh Tran (Tom Tran) Barred for Failure to Cooperate with Investigation into Providing False Information
Doran Lynn Follis Suspended for Inadequate Due Diligence, Improper Recommendations
Adam Spencer Deane Suspended & Fined $25,000 for Improper Out-of-State VA Transaction
Philip Horn Guilty of Fraud: History and Risk of Horn's "Friendly" Scheme
2012
December
Take Charge Financial, Inc., Joan Anne Perry Expelled & Barred for Unauthorized Transfers, Failure to Report Complaints, Inapp
Michael D. Montgomery Sentenced to 5 Years in Prison Following Wire Fraud Conviction
Paul Ellsworth McIntosh Barred for Unauthorized Trading Resulting in $40,000 in Customer Losses
Matthew Donald Newman Fined & Suspended in Connection with Altered Form Submissions
Daniel Leland Chiddister Fined & Suspended for Impersonating Potential Customers
Financial West Investment Group Censured & Fined for Inadequate Diligence, Failure to Execute Bond Transactions at Reasonable
Aletheia CEO Peter J. Eichler Jr. Accused of Defrauding Investors, Resulting in $4.4 Million in Losses
Frank Anthony Quartararo for Over Unauthorized Withdrawals from Customer Accounts Totaling Over $775,000
Astrid Sylvia Reinis Suspended and Fined for Failure to Disclose Unauthorized Loan from Customer
Massachusetts Securities Regulators Sue LPL Financial over Nontraded REIT Sales
Wedbush Securities Fined $375,000; Richard Anthony Lanni and Ronald Edward Vogel Fined and Suspended for Poor Supervisory Syst
Teresa Jo Dorenkamp Barred for Forging Signatures, Converting & Transferring Over $390,000 of Customer Funds
November
Christina Marie Curley Barred Following Allegations She Manipulated Compensation, Transacted in Closed Accounts
David Lerner Associates to Pay $12 Million in Restitution in Connection with Inadequate Due Diligence, Excessive Markups
SEC Charges Geoffrey H. Lunn, Darlene A. Bishop and Vincent G. Curry with Defrauding Investors by Creating Fake Company, Ident
Hojin Kyung Barred After Depositing Customer Checks into Personal Trust Account
Edgar Lee Giovannetti Fined & Suspended for Unauthorized Transaction, Failure to Disclose Lawsuit and Settlement
October
William Michael Jordan Fined and Suspended for Improper Recommendations and Lack of Due Diligence Related to Third Party's Slu
John Charles Guys Barred for Misappropriation of Funds, Creating Fake Premium Finance Agreements and Forging Customer Signatur
Stuart L Funke Suspended for Soliciting $500,000 in Loans without Firm Approval
Fidelity Brokerage Fined $375,000 for Misleading Advertising, Supervisory Failures Related to Mutual Fund Sales
Attila Gyula Toth Accused of Soliciting an Investment and Misusing Customer Funds
Ralph Thomas Gannett Suspended for Inadequate Due Diligence Related to Private Placement Sale
United Planners & CCO Douglas Hall Fined for Lack of Supervision with respect to Variable Annuities
FINRA Complaint Alleges Harry Ward Hunt Engaged in Excessive and Unsuitable Trading, Resulting in Commissions Paid to Broker
Complaint Issued Against John Cherry III Alleging Improper Use, Conversion of Customer Funds
James Scott McKee Barred for Misrepresentations, Omissions to Induce Customers to Buy Securities
Charles Duane Lewis Barred After Felony Convictions for Theft from Elder, Fraudulent Appropriation of Funds
September
Merrill Lynch Fined $500,000 for Failure to File Required Reports with FINRA
SEC Charges Broker with Stealing to Pay Personal Expenses, Investors, Many from Santa Monica, Lose $600,000 in Ponzi Scheme
Broker Fong I. Cheang Fined & Suspended for Failing to Disclose Felony Fraud Charges
Terminated Morgan Stanley Risk Officer Claims Retaliatiory Firing for Whistleblowing
FINRA Bars Thomas P. Casper for Borrowing Money from Customers and Against Firm Rules
FINRA Bars Jason Robert Cavalier for Failure to Disclose Material Facts, Lack of Cooperation with Investigation
FINRA Suspends Christopher Andrew Carra for Posting Allegedly Misleading Messages
FINRA Bars Matthew Leon Bradakis for Misuse of Customer Funds, Soliciting Payment From Client For Outside Business Activity
William J. Ferry, Dennis Clinton Found Guilty in $1 Billion Investment Fraud Scheme
FINRA Suspends David Waldemar Asplund Jr. for Borrowing $50K from Customers
August
Richard Peter Pascucci Convicted of Fraud, Barred and Ordered to Pay Restitution
FINRA Bars Broker Andrew Paul Arno for Misusing Customer IRA Funds
Investor Alert Issued: Non-Traded Real Estate Investment Trusts (REITs)
FINRA Suspends James A. Owen and Orders Restitution to his Customers
FINRA Fines & Suspends Craig Lamont Miller for Improper Recommendations Outside of Firm
FINRA Bars Edward Allen Mantanona and Orders Restitution
FINRA Fines & Suspends and Fines Rochelle Anne Leininger for Improperly Notarizing Documents
Masaharu Blair Hoashi Fined & Suspended for Forgery, Failure to Notify
FINRA Fines & Suspends Broker Michael Laurence Digaetano for Failure to Supervise
Douglas Brent Cartwright Fined & Suspended for Soliciting Investments Outside the Scope of His Employing Firm
James W. Carney, Jr. Fined & Suspended for Undisclosed Outside Business Activities
Christipher Lynn Belonge Fined Over $50,000 & Suspended for Inadequate Supervision Resulting in Significant Investment Losses
FINRA Orders Supension of Edward Wedbush and Fines Wedbush Securities, Inc. $300,000
Milton (Todd) Charles Ault, III - Disciplined by FINRA - Response to Cease and Desist Letter
Erin Christine Ackerman Fined $20,000 and Suspended Until December 2013 for Poor Supervision, Resulting in Unsuitable Recommen
Newport Coast Securities, Inc. Fined $100,000 for Poor Anti-Money Laundering Procedures, Branch Office Manager who Served on B
July
Thomas Michael Buehler Fined & Suspended for Lack of Supervision
Manhattan Beach Trading Financial Services, Inc. Fined $125,000 for Poor Security Measures Contributing to Identity Theft, Fra
Slava Volman Pleads Guilty, Sent to Prison for Securities Fraud and Conspiracy
Harold E. Wilson Barred and Ordered to Pay 10K Restitution for Failure to Contact Customers, Cooperate with FINRA Investigatio
Alfred Chi Chen Barred for Unauthorized Trading, Unsuitable Recommendations
Marc Duda Barred for $2.5 Million Ponzi Scheme
Glenn Andrew Schwarzkopf Accused of Converting Nearly $250,000 of Client's Money for Personal Use
FINRA'S Office of Hearing Officers Issues Decision Barring Broker Alan Jay Davidofsky
Edward Antonio "Ted" Salazar Ordered to Pay Nearly $1.2 Million and Suspended for Failure to Conduct Due Diligence, Bypassing
Russell Philip Macke Suspended for Excessive Trading and Use of Margin
Thomas Brown Hammond Guilty of Theft, Ordered to Pay Over $500,000 in Restitution, Barred from Industry
Brett David Henderson Fined $95,000 and Suspended for Unsuitable VA Switch Transactions
Real Estate Broker Tony Thompson Suspends Interest Payments to Investors
FINRA Issues Investor Alert on Exchange Traded Notes
Gary Lee Cousino Barred for Refusing to Cooperate with FINRA Investigation
Catheryne June Downs Fined and Suspended for Failure to Provide Timely Notice of Outside EIA Sales
Joel William Carlson Barred for Fraudulent Investment Scheme
June
Investing on Margin Carries Additional Risks and May Result in Unintended Consequences
Tsarina Lau Branyan Fined & Suspended for Unlicensed Sales of Securities
Michael D. Montgomery Pleads Guilty to Wire Fraud, Client's Loss Over $1 Million
With New 401(k) Disclosure Requirement, Investors Should Review 401(k) Plan to Determine Fees Charged
All About BrokerCheck, FINRA's Free Background Check for Your Financial Advisor
UVEST Financial Fined, Forced to Pay Remediation After Overcharging Customer
Freedom Investors Corp. Fined & Brokers Suspended for Unsuitable Penny Stock Recommendations
Merrill Lynch Fined $2.8 Million for Overcharging Customers $32 Million in Fees
John Brady Guyette Suspended & Fined for Fraudulent Misrepresentations in Recommending Investment Options
Daniel Edward Becerril II Barred from Securities Industry After Orchestrating Fraudulent Scheme
Michael Douglas Venable Barred for Multiple Violations Related to Sales of ETFs
Ivan Serge Obolensky, Jr. Barred for Failure to Answer FINRA Inquiry Regarding Unsuitable Investments
Merrill Lynch Fined $450,000 for Poor Supervisory System Related to Structured Products
John Farahi of NewPoint Financial Pleads Guilty to $20+ Million Ponzi Scheme
Russell Kent Childs Suspended and Ordered to Pay Restitution for Improper Charges
Brookstone Securities Fined $1 Million, CEO Antony Turbeville Barred for Fraudulent Sales of CMOs to Elderly Clients
Oppenheimer to Pay $35 Million for Misleading Investors During Financial Crisis
Yong "Michael" Chen Fined, Suspended for Failure to Report Outside Business Activities
Stifel, Nicolaus & Company Fined, Ordered to Pay Restitution Totaling $600,000
May
Rafael Ramon Sanchez Barred for Fraudulent Misconduct
Timothy David Cochrane Permanently Barred for Fraudulent Investment Scheme
Charles Oscar Boneck, Jr. Barred by FINRA for Unauthorized Transactions
FINRA Bars Registered Representative Brett Reed Barber
Discipline: Midas Securities & Registered Principal Jay S. Lee Disciplined for Unlawful, Irresponsible Conduct
Arbitration: Wells Fargo Ordered to Buy Back $2.2 Million in Auction Rate Securities
Arbitration: JPMorgan Chase & Co. Ordered to Pay Client $1.9 Million, Only a Fraction of $26.7 Million Claimed in Damages
FINRA Sanctions Four Firms $9.1 Million for Improper Leveraged and Inverse ETF Sales
April
Discipline: Some Morgan Stanley Structured Product Purchases Failed to Comply with Internal Guidelines
Discipline: Stephen Wilson (Prudential, Wachovia) Barred for Unsuitable Recommendations and Unauthorized Trading
Discipline: Barclays Capital Fined $3 Million After Providing Inaccurate Information to Investors
Promissory Notes and Fraud
Home Hazard: The Danger of Using a Mortgage to Finance Investments
High Yield Investment Programs (HYIP): A Risky Venture
Getting to Know Reverse Convertibles
January
2008
January
Attorney Jonathan Evans Gets Back-to-Back Wins Against Two Brokerage Firms in Two...
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