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Recent Posts in Penny Stocks Category

55 results found. Viewing page 1 of 3. Go to page 1 2 3   Next

Dunkerley Named in $43 Million Dollar Fraud Scheme Tied to LAFC Soccer Team Owner

In an alleged fraud with ties to a major Southern California professional sports team, The SEC named former Burnham Securities (Irvine, CA) broker Hugh David Dunkerley as one of nine individuals who ...
Continue reading "Dunkerley Named in $43 Million Dollar Fraud Scheme Tied to LAFC Soccer Team Owner" »

Glendale Securities (Sherman Oaks) Brokers Sanctioned in Penny Stock Misconduct

FINRA sanctioned Glendale Securities, Inc. and brokers George Alberto Castillo, Paul Eric Flesche, and Albert Raymond Laubenstein of the firm's Sherman Oaks, California branch, and Huanwei Huang ...
Continue reading "Glendale Securities (Sherman Oaks) Brokers Sanctioned in Penny Stock Misconduct" »

Wedbush Pays $250k to Settle Supervision Failure Charge for SoCal Rep Timary Delorme's Pump-and-Dump Fraud

The SEC censured and ordered Wedbush Securities to pay a $250,000 penalty for failing to supervise broker Timary Delorme in Wedbush's Los Angeles office. In the twilight of her 40-year career with ...
Continue reading "Wedbush Pays $250k to Settle Supervision Failure Charge for SoCal Rep Timary Delorme's Pump-and-Dump Fraud" »

Disgraced Merrill Lynch Broker Thomas Buck Sentenced to 40 Months in Prison for Securities Fraud

One year after the SEC barred ex-Merrill Lynch and RBC Capital broker Thomas Joseph Buck from the securities industry (and three years after FINRA barred him for the same), a federal judge sentenced ...
Continue reading "Disgraced Merrill Lynch Broker Thomas Buck Sentenced to 40 Months in Prison for Securities Fraud" »

Ladenburg Thalmann Financial Chairman Phillip Frost Charged with Fraud in Pump-and-Dump Penny Stock Scheme

The Securities and Exchange Commission alleged Ladenburgh Thalmann Financial Services chairman and largest shareholder Phillip Frost and a handful of co-defendants with perpetrating a series of ...
Continue reading "Ladenburg Thalmann Financial Chairman Phillip Frost Charged with Fraud in Pump-and-Dump Penny Stock Scheme" »

David Unsworth Sanctioned for Undisclosed Private Securities Sales

FINRA fined and suspended David Woods "Chip" Unsworth Jr., formerly of National Securities Corporation in San Francisco, California, for failing to disclose a private securities transactions ...
Continue reading "David Unsworth Sanctioned for Undisclosed Private Securities Sales" »

Midtown Partners' Kevin Gillespie Charged by SEC in $10 Million Microcap Fraud Scheme

The Securities and Exchange Commission, in a civil complaint, charged Midtown Partners broker Kevin Patrick Gillespie and four others in a series of microcap fraud schemes that netted more than $10 ...
Continue reading "Midtown Partners' Kevin Gillespie Charged by SEC in $10 Million Microcap Fraud Scheme" »

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" »

SEC Charges Wedbush Securities with Failing to Supervise Timary Delorme in Penny Stock Market Manipulation Scheme

Having issued southern California broker Timary Ann Delorme aka Timary Kennally Koller a cease-and-desist order and ordering $50,000 in civil penalties for her involvement in Izak Zirk Engelbrecht aka ...
Continue reading "SEC Charges Wedbush Securities with Failing to Supervise Timary Delorme in Penny Stock Market Manipulation Scheme" »

Guilty of Fraudulent Scheming to Overcharge Clients, SEC Bars Ex-Merrill Lynch Rep Thomas J. Buck

SEC officials barred former Merrill Lynch and RBC Capital broker Thomas Joseph Buck, who pleaded guilty to overcharging clients in October and was previously barred by FINRA in 2015. The SEC in ...
Continue reading "Guilty of Fraudulent Scheming to Overcharge Clients, SEC Bars Ex-Merrill Lynch Rep Thomas J. Buck" »

FINRA's 2018 Priorities Include Suitability, Cryptocurrency, High-Risk Brokers & Firms, Microcap/Penny Stocks, and Margin

FINRA released its annual regulatory and examination priorities letter for 2018, highlighting several points of emphasis for the regulator in the new year. Key in this list are sales practice concerns ...
Continue reading "FINRA's 2018 Priorities Include Suitability, Cryptocurrency, High-Risk Brokers & Firms, Microcap/Penny Stocks, and Margin" »

Stockbroker and Blue Line Brewery Owner Mark Gillis Pleads Guilty to Securities Fraud

Former Hudson Valley Capital Management co-owner Mark Joseph Gillis pleaded guilty to securities fraud after investigators charged him with scheming to steal nearly $400,000 from investors. FINRA ...
Continue reading "Stockbroker and Blue Line Brewery Owner Mark Gillis Pleads Guilty to Securities Fraud" »

Former LPL Broker Thomas Breslin Sanctioned for Undisclosed Private Securities Transactions in Biopharma Penny Stock

FINRA fined and suspended former Thomas Joseph Breslin Jr., formerly of LPL Financial's San Diego, California branch, for engaging in private securities transactions in a penny stock without ...
Continue reading "Former LPL Broker Thomas Breslin Sanctioned for Undisclosed Private Securities Transactions in Biopharma Penny Stock" »

Ex-IFG and Centaurus Broker Calvin Moores Barred After FINRA Investigation, OTC Dispute Alleging Fraud, Complaint Alleging Elder Abuse

FINRA barred former Centaurus Financial Inc. (Fullerton, CA) and Independent Financial Group (Brea, CA) broker Calvin Edward Moores after he failed to cooperate with an investigation into allegations ...
Continue reading "Ex-IFG and Centaurus Broker Calvin Moores Barred After FINRA Investigation, OTC Dispute Alleging Fraud, Complaint Alleging Elder Abuse" »

Andrew Logullo Sanctioned for Selling Away, Undisclosed Outside Business, and Improper Use of Discretion Trading Penny Stocks

FINRA fined and suspended former Ameritas Investment Corp. (Los Angeles) broker Andrew John "AJ" Logullo for failing to disclose outside brokerage accounts to Ameritas and for engaging in an ...
Continue reading "Andrew Logullo Sanctioned for Selling Away, Undisclosed Outside Business, and Improper Use of Discretion Trading Penny Stocks" »

Ex-Raymond James Broker Scott Sibley Barred for 900 Unauthorized Transactions, Unsuitable Recommendations to 10+ Seniors

FINRA barred former Raymond James & Associates broker Scott Allen Sibley for effecting approximately 900 securities transactions in the account of a 62-year-old client unable to work for medical ...
Continue reading "Ex-Raymond James Broker Scott Sibley Barred for 900 Unauthorized Transactions, Unsuitable Recommendations to 10+ Seniors" »

Ex-Oppenheimer, Marquis Financial Broker Stephen Wilshinsky, Gregory Goldstein, Others Sentenced for Roles in de Maison's $39 Million Penny Stock Fraud

A federal judge sentenced eight former brokers, advisers, and salesmen—including alleged ringleader Izak Zirk de Maison of Redlands, California—to prison for their roles in a widespread ...
Continue reading "Ex-Oppenheimer, Marquis Financial Broker Stephen Wilshinsky, Gregory Goldstein, Others Sentenced for Roles in de Maison's $39 Million Penny Stock Fraud" »

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" »

Former ACAP AML Compliance Officer Gary Hume Barred for Improper Unregistered Penny Stock Liquidation

FINRA barred former ACAP Financial Inc. (Salt Lake City, Utah) Anti-Money Laundering Compliance Officer, Gary Hume, in facilitating the liquidation of over 3.3 billion unregistered penny stock shares ...
Continue reading "Former ACAP AML Compliance Officer Gary Hume Barred for Improper Unregistered Penny Stock Liquidation" »

Donald Toomer Barred, Indicted for $30 Million Pump-And-Dump Penny Stock Fraud

FINRA barred Donald Shelby Toomer, formerly of Wells Fargo Advisors Financial Network, LLC in Las Vegas, NV, following a December 2015 indictment on charges of securities fraud, conspiracy to commit ...
Continue reading "Donald Toomer Barred, Indicted for $30 Million Pump-And-Dump Penny Stock Fraud" »

Ex-California Broker Daniel McKelvey Pleads Guilty in Fraudulent Shell Corporation Penny Stock Scheme

Daniel Patrick McKelvey of Foster City, California pleaded guilty to conspiracy to commit securities fraud, a charge filed by the US Attorney's Office in collaboration with the FBI and SEC, and in ...
Continue reading "Ex-California Broker Daniel McKelvey Pleads Guilty in Fraudulent Shell Corporation Penny Stock Scheme" »

FOG Equities Fined $60k, Brokers David Spack & Scott Epstein Fined and Suspended for AML, Due Diligence Failures in Penny Stock Transactions

FINRA censured and fined FOG Equities, LLC $60,000, and fined & suspended former FOG AML & Chief Compliance Officers David S. Spack of the firm's San Francisco, CA branch and Scott Noel ...
Continue reading "FOG Equities Fined $60k, Brokers David Spack & Scott Epstein Fined and Suspended for AML, Due Diligence Failures in Penny Stock Transactions" »

FINRA Files Complaint Against BrokerBank, Alleging Misleading Press Releases & Recommendations

FINRA filed a complaint against BrokerBank Securities, Inc. and Chief Executive & Compliance Officer Philip Paul Wright for issuing "hundreds" of misleading press releases in violation ...
Continue reading "FINRA Files Complaint Against BrokerBank, Alleging Misleading Press Releases & Recommendations" »

Facing Possible Discipline, Scottsdale Capital Advisors Sues FINRA Over Enforcement Authority

Almost one year after FINRA first filed a complaint against Scottsdale Capital Advisors alleging $1.7 million in illegal microcap stock sales and wires, Scottsdale Capital Advisors is attempting to ...
Continue reading "Facing Possible Discipline, Scottsdale Capital Advisors Sues FINRA Over Enforcement Authority" »

Risky, Unsuitable Investments in Poorly Performing Energy, Oil and Gas Ventures May Lead to FINRA Claims

Investors who lost money in oil and gas investments gone awry may be contemplating—or be wise to start preparing—complaints and arbitration claims with FINRA, according to a new Investment ...
Continue reading "Risky, Unsuitable Investments in Poorly Performing Energy, Oil and Gas Ventures May Lead to FINRA Claims" »
55 results found. Viewing page 1 of 3. Go to page 1 2 3   Next
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