Recent Posts in Ameriprise Category
Posted on Mar 26, 2019 By The Law Offices of Jonathan W. Evans & Associates
On the heels of FINRA's January 2019 complaint charging former Wedbush Securities broker William Mark Heiden of Southern California with unauthorized trading in elderly clients' brokerage ...
Continue reading "Broker Bonuses and Forgivable Loans - When Brokers Place Personal Profits Above Client Interests, a William Mark Heiden Case Study" »
Posted on Mar 15, 2019 By The Law Offices of Jonathan W. Evans & Associates
After a FINRA OHO hearing panel barred Amerprise Financial Services broker Jim Jinkook Seol ( CRD #2876279 ) of the firm's Irvine, CA branch for selling away from the firm by soliciting $100 ...
Continue reading "NAC Affirms Amerprise Broker Jim Jinkook Seol's EB-5 Private Securities Transactions and Outside Business Activities Bar" »
Posted on Mar 6, 2019 By The Law Offices of Jonathan W. Evans & Associates
FINRA fined and suspended former Ameriprise Financial Services broker Emanuel Omar Avina for impersonating several customers out of Ameriprise's City of Industry, California branch in phone calls ...
Continue reading "Emanuel Avina Sanctioned for Impersonating Ameriprise Customers" »
Posted on Sep 29, 2018 By The Law Offices of Jonathan W. Evans & Associates
FINRA fined and suspended former Ameriprise Financial Services and Moors & Cabot, Inc broker Robert Charles Torcivia for improperly accepting and failing to disclose fiduciary and beneficiary ...
Continue reading "Robert Torcivia Disciplined Over Beneficiary Designations, Inheriting Money from Clients" »
Posted on Aug 16, 2018 By The Law Offices of Jonathan W. Evans & Associates
The Securities and Exchange Commission instituted cease-and-desist proceedings against Ameriprise Financial Services, finding that the firm failed to adopt and implement policies and procedures to ...
Continue reading "SEC Issues Ameriprise Financial Cease-and-Desist Order over Failure to Detect Misappropriation and Fraud" »
Posted on May 29, 2018 By The Law Offices of Jonathan W. Evans & Associates
Two months after his arrest for stealing from an elderly investor, FINRA barred former Ameriprise Financial Services and Voya Financial Advisors broker James "Jim" Edward Knee following an ...
Continue reading "James Edward Knee Barred, Arrested for Theft from Elderly Client" »
Posted on May 21, 2018 By The Law Offices of Jonathan W. Evans & Associates
Investing on margin—which means investing funds that are borrowed from a brokerage firm—can look attractive because of the potential for great returns. On the other hand, buying on margin ...
Continue reading "Gross Margin Debt Climbing at an Unsustainable Rate, Placing Investors at Greater Risk" »
Posted on Apr 20, 2018 By The Law Offices of Jonathan W. Evans & Associates
FBI agents arrested former Ameriprise Financial Services representative Li Lin Hsu of Diamond Bar, California and charged her with mail fraud, wire fraud, obstruction of justice, and money laundering. ...
Continue reading "FBI Arrests Ex-Ameriprise Broker Li Lin Hsu for Fraud, Stealing from Clients" »
Posted on Jan 25, 2018 By Michael Edmiston
FINRA fined and suspended former Ameriprise Financial Services representative Lorene Fairbanks aka Lorene Fairbanks Miller for improperly borrowing money from a client, and for exchanging business ...
Continue reading "Ameriprise's Lorene Fairbanks Sanctioned for Unauthorized Loan from Customer, Violative Text Messages" »
Posted on Jan 10, 2018 By Michael Edmiston
FINRA barred former Ameriprise Financial and Wedbush Securities broker Larry Martin Boggs for excessively and unsuitably trading five elderly customers' accounts while associated with Amerprise of ...
Continue reading "Ameriprise's Larry Boggs Barred for Churning Elderly Client Accounts, Improperly Changing Customer Objectives" »
Posted on Nov 28, 2017 By Michael Edmiston
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" »
Posted on Oct 11, 2017 By Michael Edmiston
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" »
Posted on Sep 22, 2017 By Michael Edmiston
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" »
Posted on Aug 25, 2017 By Michael Edmiston
FINRA's OHO concluded a year-long investigation into former Ameriprise Financial (Irvine, CA) broker Jim Jinkook Seol by issuing a decision barring Seol from the securities industry for engaging ...
Continue reading "OHO Issues Decision Barring Jim Jinkook Seol over Undisclosed EB-5 Business" »
Posted on Jun 12, 2017 By Michael Edmiston
FINRA charged former Morgan Stanley and present Ameriprise Financial broker Kim Dee Isaacson with making fraudulent misrepresentations and omissions of material facts to an elderly client regarding ...
Continue reading "Kim Dee Isaacson Charged with Fraudulent Misrepresentations, Unauthorized Transactions in Elderly Client's Account" »
Posted on Jun 8, 2017 By Michael Edmiston
FINRA barred former Ameriprise Financial (Irvine, CA) broker Jim Jinkook Seol of Lake Forest for participating in $100 million-worth of private securities transactions and outside business activities ...
Continue reading "Ameriprise (Irvine)'s Jim Seol Barred for 'Egregious' Selling Away of $100 Million Private Placements for Immigration's EB-5 Program" »
Posted on Jun 6, 2017 By Michael Edmiston
After defrauding clients out of $1.1 million by pretending to invest in a real estate investment trust (REIT) and gold coins—including one terminally ill customer whose primary objective was to ...
Continue reading "Ex-Ameriprise Broker Mark Francis Speakman Pleads Guilty to REIT Wire Fraud, Money Laundering" »
Posted on Sep 14, 2016 By Michael Edmiston
FINRA fined Ameriprise Financial Services, Inc. $850,000 for failing to supervise and detect former broker Justin Matthew Weseloh's conversion of funds from multiple customer brokerage accounts, ...
Continue reading "FINRA Fines Ameriprise Financial $850k over Rep & Manager Weseloh's Conversion of $370,000 from Customers" »
Posted on Sep 6, 2016 By Michael Edmiston
FINRA fined Ameriprise Financial Services $100,000 for failing to supervise ex-broker Michael Edward Halla's unsuitable short-term trading of IPO closed end funds (CEFs). The investigation notes ...
Continue reading "Ameriprise Financial Failed to Supervise Michael Halla's Unsuitable Closed End Fund Short-Term Trading, Fined $100,000" »
Posted on Jun 1, 2016 By Michael Edmiston
FINRA charged Jim Jinkook Seol, formerly of Ameriprise Financial Services' Irvine, CA branch, with engaging in outside business activities and participating in private securities transactions by ...
Continue reading "FINRA Charges Jim Seol with Unauthorized WRCI, EB-5 Immigration Outside Business Activity" »
Posted on Oct 15, 2014 By Michael Edmiston
FINRA fined and suspended former Ameriprise Financial Services, Inc. broker Thomas David Sharp of Carmichael, California for sending multiple e-mails concerning non-traded real estate investment ...
Continue reading "Thomas David Sharp Fined and Suspended for Improper REIT E-mail Solicitations" »
Posted on Apr 27, 2014 By Michael Edmiston
FINRA fined and suspended Ameriprise Financial, Inc. broker Douglas Frank Cmelik for allegedly improperly marking penny stock sales as unsolicited when, in fact, he solicited the purchases. FINRA Case ...
Continue reading "Douglas Frank Cmelik Fined & Suspended for Inaccurately Marked "Unsolicited" Penny Stock Sales" »
Posted on Apr 6, 2014 By Michael Edmiston
FINRA barred Sacramento, California-based representative Michelle Lee Kern for the alleged unlawful conversion of a total $669,000 from client brokerage and checking accounts, including alleged theft ...
Continue reading "Michelle Lee Kern Barred for Unlawful Conversion of $669,000 in Client Funds" »