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Recent Posts in Churning Category

37 results found. Viewing page 1 of 2. Go to page 1 2   Next

FINRA Reports Problems with Overconcentration in REITs, Unsuitable Variable Annuity Recommendations

FINRA's 2018 year-end Examination Findings Report identified several problem areas in the securities industry relative to broker and firm interactions with retail investors, including ...
Continue reading "FINRA Reports Problems with Overconcentration in REITs, Unsuitable Variable Annuity Recommendations" »

Sean J. Waters Barred for Churning Senior Citizen's Retirement Accounts, Racking Up Fees and Losses

FINRA barred former Financial West Group (Los Angeles, CA) broker Sean J Waters for excessive trading in his elderly client's individual and IRA accounts with reckless disregard for his senior ...
Continue reading "Sean J. Waters Barred for Churning Senior Citizen's Retirement Accounts, Racking Up Fees and Losses" »

San Diego "Financial Whiz of Local Airwaves" Kyle Harrington Barred After Conversion, Undisclosed Private Securities Transaction Investigations

FINRA barred former National Securities Corporation (San Diego) broker Kyle Patrick Harrington for allegedly trying to obstruct FINRA and firm investigations into allegations that he converted ...
Continue reading "San Diego "Financial Whiz of Local Airwaves" Kyle Harrington Barred After Conversion, Undisclosed Private Securities Transaction Investigations" »

John Simoncic Barred for Churning Retirement Accounts with VIX ETF

FINRA barred John Scott Simoncic, formerly of Financial West Group (Reno, Nevada and San Diego, California) and Securities America (Solana Beach, CA), for churning customer accounts, engaging in ...
Continue reading "John Simoncic Barred for Churning Retirement Accounts with VIX ETF" »

StockCross Financial Services, LA Broker Peter Cunningham Accused of Fraudulent, Unethical UIT Trading Practices

Founded in Boston and now based in Beverly Hills, California, StockCross Financial Services and its Los Angeles-based broker Peter Edward Cunningham stand accused of causing losses in customer ...
Continue reading "StockCross Financial Services, LA Broker Peter Cunningham Accused of Fraudulent, Unethical UIT Trading Practices" »

FINRA Bars Paul Soll Over Investigation into Elder Abuse, Churning, and Unsuitable Penny Stock Recommendations

FINRA barred former Financial West Group and Western International Securities (both Los Angeles, California) broker Paul Edward Soll for refusing to cooperate with an investigation involving trading ...
Continue reading "FINRA Bars Paul Soll Over Investigation into Elder Abuse, Churning, and Unsuitable Penny Stock Recommendations" »

David Barber's Unauthorized Trades Prompts FINRA Bar, $2 Million Churning Award

FINRA barred former Madison Avenue Securities (San Diego, CA) broker David Lloyd Barber after finding he exercised discretion and effected unauthorized trades in customer accounts. The bar follows a ...
Continue reading "David Barber's Unauthorized Trades Prompts FINRA Bar, $2 Million Churning Award" »

FINRA to Flag Brokers as High-Risk Due to Association with Recidivist Reps, Fraudulent Firms

In a video segment, A Few Minutes with FINRA, Executive Vice President and Head of FINRA Member Regulation Mike Rufino introduced the regulator's High-Risk Registered Representative Program, in ...
Continue reading "FINRA to Flag Brokers as High-Risk Due to Association with Recidivist Reps, Fraudulent Firms" »

Joseph Farah Barred for Unsuitable and Excessive Trading, Undisclosed Outside Business Activity, and Misrepresentations

FINRA barred Joseph C. Farah, formerly of Gold Coast Securities in Irvine, California, for excessive and unsuitable trading in a customer's account, failing to notify his firm of discretionary ...
Continue reading "Joseph Farah Barred for Unsuitable and Excessive Trading, Undisclosed Outside Business Activity, and Misrepresentations" »

Charles Dixon Barred After Termination from Morgan Stanley for Unauthorized Trading

FINRA barred former Morgan Stanley broker Charles Albert Dixon after he refused to cooperate with an investigation into his termination from the firm based on allegations that he employed discretion ...
Continue reading "Charles Dixon Barred After Termination from Morgan Stanley for Unauthorized Trading" »

Ameriprise's Larry Boggs Barred for Churning Elderly Client Accounts, Improperly Changing Customer Objectives

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" »

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" »

Facing Allegations of Fraud and Churning, Frederick Houck Suspended for Unauthorized Use of Discretion

FINRA suspended former Freedom Investment Corp. broker Frederick David Houck for improperly exercising discretion to effect nearly 500 transactions without firm authorization or permission and for ...
Continue reading "Facing Allegations of Fraud and Churning, Frederick Houck Suspended for Unauthorized Use of Discretion" »

FINRA Bars Timothy Ballard for Failing to Cooperate with Investigation

FINRA barred Danville, California broker Timothy David Ballard after he failed to respond to a request for information, and subsequently failed to request termination of a FINRA-imposed suspension. ...
Continue reading "FINRA Bars Timothy Ballard for Failing to Cooperate with Investigation" »

FINRA Investigating Joseph Farah for Churning, Suitability, Undisclosed Outside Business Activities, Misrepresentations

FINRA charged Gold Coast Securities (Irvine, CA) broker Joseph C Farah with churning, excessive trading, suitability, undisclosed outside business activities, material misrepresentations, and ...
Continue reading "FINRA Investigating Joseph Farah for Churning, Suitability, Undisclosed Outside Business Activities, Misrepresentations" »

Complaint Alleges Kelly Althar's Unsuitable and Excessive Trading Caused $187,000 Loss in Elderly Client's Accounts

FINRA filed a complaint alleging that former Financial West Group (San Francisco) and Paulson Investment Company (Novato, CA) broker Kelly Clayton Althar made unsuitable recommendations and ...
Continue reading "Complaint Alleges Kelly Althar's Unsuitable and Excessive Trading Caused $187,000 Loss in Elderly Client's Accounts" »

Christopher Ariola Charged with Unsuitable Energy Recommendations to Elderly Clients, Undisclosed Trading

A complaint filed against Christopher Basile Ariola, formerly of Bay Mutual Financial in Santa Monica and Financial Telesis, Inc. of Aliso Viejo, California, accuses the SoCal broker of making a ...
Continue reading "Christopher Ariola Charged with Unsuitable Energy Recommendations to Elderly Clients, Undisclosed Trading" »

Hank Werner Charged with Fraudulent Churning, Excessive Trading, Unsuitable VA Recommendation Against Elderly, Blind Widow

FINRA filed a complaint against former Liberty Partners Financial Services (Bakersfield, CA) and Legend Securities (New York) broker Henry "Hank" Mark Werner alleging securities fraud for ...
Continue reading "Hank Werner Charged with Fraudulent Churning, Excessive Trading, Unsuitable VA Recommendation Against Elderly, Blind Widow" »

Victor Michel Sanctioned for Using Personal E-Mail, Failure to Retain Correspondence, Settling Complaint Without Notifying Firm

FINRA fined and suspended Victor Michel, formerly of Financial West Group in Westlake Village, CA, for using his personal non-firm e-mail account for correspondence with a firm customer concerning ...
Continue reading "Victor Michel Sanctioned for Using Personal E-Mail, Failure to Retain Correspondence, Settling Complaint Without Notifying Firm" »

FINRA Bars Retirement Income Planner Nathan Silva for Failing to Cooperate with Misconduct Investigation

FINRA barred former Ameritas Investment Corp. broker Nathan Silva for his failure to cooperate with an investigation into several instances of misconduct, including an Ameritas charge that he ...
Continue reading "FINRA Bars Retirement Income Planner Nathan Silva for Failing to Cooperate with Misconduct Investigation" »

Equinox Securities, Stephen Oliveira & Chris Palkowitsh Barred for Excessive Trading & Churning in Customer Accounts, IRAs

FINRA sanctioned Equinox Securities of Redlands, California, and barred brokers Stephen Michael Oliveira and Chris Blain Palkowitsh for misconduct related to Palkowitsh's excessive trading and ...
Continue reading "Equinox Securities, Stephen Oliveira & Chris Palkowitsh Barred for Excessive Trading & Churning in Customer Accounts, IRAs" »

Bahram Mirhashemi Barred for Churning, Excessive Trading & Unsuitable Sales to Elderly Clients Resulting in Losses

FINRA barred former Accelerated Capital Group (Irvine, California) broker Bahram Mirhashemi for churning and making excessive and unauthorized trades in customer accounts, including those belonging to ...
Continue reading "Bahram Mirhashemi Barred for Churning, Excessive Trading & Unsuitable Sales to Elderly Clients Resulting in Losses" »

SEC Bars of Ralph Calabro, Jason Konner, and Dimitrios Koutsoubos for Churning

The SEC permanently barred JP Turner & Co. brokers Ralph Christopher Calabro, Jason Ivan Konner, and Dimitrios Koutsoubos for willfully churning customer accounts and ordered fines and ...
Continue reading "SEC Bars of Ralph Calabro, Jason Konner, and Dimitrios Koutsoubos for Churning" »

FINRA Bars or Suspends 10 Cockroach Brokers at Global Arena Capital Corp. for Misleading Pitches, Churning, and Other Misconduct

FINRA is cracking down at firms such as Global Arena Capital Corp. which hire troubled brokers who move from one risky firm to another. The practice, known as "cockroaching" or "broker ...
Continue reading "FINRA Bars or Suspends 10 Cockroach Brokers at Global Arena Capital Corp. for Misleading Pitches, Churning, and Other Misconduct" »

Glenn Moffitt Barred Over Allegations He Converted Over $370,000 from Elderly Customer, Churned His Accounts

FINRA barred former broker Glenn Allen Moffitt of Henderson, Nevada over a customer dispute filed in Nevada's Clark County alleging that Moffitt misappropriated several hundreds of thousands of ...
Continue reading "Glenn Moffitt Barred Over Allegations He Converted Over $370,000 from Elderly Customer, Churned His Accounts" »
37 results found. Viewing page 1 of 2. Go to page 1 2   Next
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