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Recent Posts in Loan Category

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

Former Morgan Stanley Broker John-Aaron Lenhert Cited for Borrowing Funds from Customers

FINRA fined and suspended John-Aaron Lenhert, formerly of Morgan Stanley in Laguna Niguel, California, for borrowing funds from multiple customers without approval and for related misrepresentations, ...
Continue reading "Former Morgan Stanley Broker John-Aaron Lenhert Cited for Borrowing Funds from Customers" »

HD Vest Investment's Jerry Raines & Donna Barnard Barred in Ongoing Woodbridge Ponzi Scheme Investigation

FINRA barred former HD Vest Investment Services brokers Jerry Davis Raines and Donna Lynn Barnard for failing to cooperate with staff investigating sales of promissory notes related to the Woodbridge ...
Continue reading "HD Vest Investment's Jerry Raines & Donna Barnard Barred in Ongoing Woodbridge Ponzi Scheme Investigation" »

Wells Fargo Wealth Management Investigated for Unsuitable Investments, Self-Dealing

With Wells Fargo's credit card and savings divisions already disciplined by the Federal Reserve over a fake account scandal during which the bank opened bogus accounts on behalf of its customers, ...
Continue reading "Wells Fargo Wealth Management Investigated for Unsuitable Investments, Self-Dealing" »

Phillip Tibbetts Fined & Suspended for Accepting Unauthorized Loan from Customer

FINRA fined and suspended Phillip Paul Tibbetts for accepting a loan from a customer at Pruco Securities of San Diego without notifying nor receiving authorization from Pruco. Firm policy at the time ...
Continue reading "Phillip Tibbetts Fined & Suspended for Accepting Unauthorized Loan from Customer" »

Ameriprise's Lorene Fairbanks Sanctioned for Unauthorized Loan from Customer, Violative Text Messages

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" »

NASAA Identifies Notes, Real Estate, Ponzi, Oil and Gas, Affinity Fraud, and Variable Annuities as Biggest Investor Threats

The North American Securities Administrations Association (NASAA) announced the top threats to investors, identifying the most frequent sources of current investor complaints or industry ...
Continue reading "NASAA Identifies Notes, Real Estate, Ponzi, Oil and Gas, Affinity Fraud, and Variable Annuities as Biggest Investor Threats" »

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" »

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" »

"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" »

AXA Advisors' Chad Hornaday Barred for Selling Away and Borrowing Money from Client

FINRA barred former AXA Advisors (Carlsbad, CA) representative Chad Daniel Hornaday for failing to provide requested information in connection with an investigation into allegations that he received ...
Continue reading "AXA Advisors' Chad Hornaday Barred for Selling Away and Borrowing Money from Client" »

Jaime Aguilar Suspended for Unauthorized Loans from Customers

FINRA fined and suspended former Morgan Stanley (San Diego, CA) broker Jaime Hazael Aguilar for borrowing money from a firm customer in contravention of firm and industry rules, and falsely stating on ...
Continue reading "Jaime Aguilar Suspended for Unauthorized Loans from Customers" »

Mitchell Behm Sanctioned for Unauthorized $180,000 Loan, Failure to Disclose Prior Bankruptcy

FINRA fined and suspended former Edward Jones and Raymond James Financial Services broker Mitchell Glenn Behm of Colorado for taking a $180,000 loan from an elderly customer at the firm in order to ...
Continue reading "Mitchell Behm Sanctioned for Unauthorized $180,000 Loan, Failure to Disclose Prior Bankruptcy" »

Former LPL Financial (Fresno) Broker Todd Pilosi Punished for Borrowing Money From Client

FINRA fined and suspended Todd Joseph Pilosi, formerly of RBC Capital Markets and LPL Financial's Fresno, CA branches for borrowing a total of $150,000 from a customer of his. AWC #2016051455601 ...
Continue reading "Former LPL Financial (Fresno) Broker Todd Pilosi Punished for Borrowing Money From Client" »

Ex-LPL Broker Robert Tricarico Convicted, Sentenced for Stealing $1.2 Million from Elderly Clients, Wire Fraud

After FINRA barred former LPL Financial broker Robert Neil Tricarico for failing to cooperate with an investigation, Tricarico pled guilty in federal court to one count of wire fraud and received a ...
Continue reading "Ex-LPL Broker Robert Tricarico Convicted, Sentenced for Stealing $1.2 Million from Elderly Clients, Wire Fraud" »

Ex-LPL Broker Cheryl Kerber Fined & Suspended for False Statements About a Loan

FINRA fined and suspended Cheryl Sue Kerber (née Cheryl Sue Holmes), formerly a broker at LPL Financial's San Diego, CA branch, for making false statements to the firm regarding a loan she ...
Continue reading "Ex-LPL Broker Cheryl Kerber Fined & Suspended for False Statements About a Loan" »

Ciro "Nick" Cavazos Fined, Suspended for Unauthorized, Undisclosed Loan; Accused of Fraud & Financial Elder Abuse

FINRA fined, suspended, and ordered restitution of former Edward Jones (Paradise, CA) and Raymond James (Chico, CA) broker Ciro "Nick" Gilbert Cavazos for borrowing money from a client in ...
Continue reading "Ciro "Nick" Cavazos Fined, Suspended for Unauthorized, Undisclosed Loan; Accused of Fraud & Financial Elder Abuse" »

Thrivent's Miguel Hernandez Barred for Defrauding Elderly Church-Going Client

FINRA barred Miguel Angel Hernandez ( CRD 4733002 ), formerly of Thrivent Investment Management in El Paso, Texas, for allegedly defrauding an elderly woman he met at church by obtaining $25,000 in ...
Continue reading "Thrivent's Miguel Hernandez Barred for Defrauding Elderly Church-Going Client" »

Raymond Daniel Schmidt Barred After Borrowing $2.25 Million from LPL Financial Clients

FINRA barred former LPL Financial broker Raymond Daniel Schmidt of Oceanside, California for borrowing a total of $2.25 million from multiple clients to build a house in Hawaii without informing his ...
Continue reading "Raymond Daniel Schmidt Barred After Borrowing $2.25 Million from LPL Financial Clients" »

Loreta Salinas Nelson Fined & Suspended for Serving as Co-Trustee for 100-year-old Client Without Firm Permission

FINRA suspended former MetLife Securities Inc. broker Loreta Salinas Nelson of Murrieta, California for engaging in an unapproved outside business activity by serving as a co-trustee for an elderly ...
Continue reading "Loreta Salinas Nelson Fined & Suspended for Serving as Co-Trustee for 100-year-old Client Without Firm Permission" »

NASAA Names Top 9 Investor Threats for 2015

The North American Securities Administrators Association (NASAA), whose membership consists of securities administrators across all 50 states, territories, Canada and Mexico, released its top nine ...
Continue reading "NASAA Names Top 9 Investor Threats for 2015" »

Kent George Lehman Barred for Improperly Borrowing From Customers, Failure to Cooperate

FINRA barred former Citigroup, Morgan Stanley & Securian Financial Services, Inc. broker Kent George Lehman of Orange, California for improperly borrowing money from clients and misrepresenting ...
Continue reading "Kent George Lehman Barred for Improperly Borrowing From Customers, Failure to Cooperate" »

Broker Matthew Trulli Suspended for Illicit Borrowing of Nearly $200k in Customer Funds

FINRA suspended former Foothill Securities broker Matthew Trulli of Visalia, California for borrowing approximately $197,500 of firm customer funds in violation of firm and industry policy. FINRA Case ...
Continue reading "Broker Matthew Trulli Suspended for Illicit Borrowing of Nearly $200k in Customer Funds" »

Mass. Fines Merrill Lynch $500K for Failing to Stop Broker Misconduct

The Massachusetts Securities Division fined Merrill Lynch Pierce Fenner & Smith Inc. $500,000, alleging the firm failed to stop a broker from "borrowing" over $2 million of client ...
Continue reading "Mass. Fines Merrill Lynch $500K for Failing to Stop Broker Misconduct" »

SEC: Small Violations Can Lead to Strong Enforcement, Sanctions, and Fines

The Securities and Exchange Commission is turning to a new Enforcement strategy: zero in on minor infractions in order to stop large violations from occurring later on. SEC Chairman Mary Jo ...
Continue reading "SEC: Small Violations Can Lead to Strong Enforcement, Sanctions, and Fines" »

John Thornes Barred for Stealing $4.2 Million from Elderly Alzheimer's, Scholarship Accounts

Just two months after publishing a May complaint against Redland, California's John Thomas Thornes, president of Thornes & Associates Inc. Investment Services, FINRA barred Thornes for the ...
Continue reading "John Thornes Barred for Stealing $4.2 Million from Elderly Alzheimer's, Scholarship Accounts" »
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