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Jun 22, 2016

FINRA Suspends Former LPL Broker

By |June 22nd, 2016|Broker Check, Failure To Supervise, FINRA, FINRA News, Press Releases & News|

FINRA has suspended former LPL Financial broker and supervisor Peter Neuberg for six months and has fined him $15,000 after failing to reasonably supervise a registered representative, according to the regulatory agency. Neuberg ceased regularly reviewing paperwork prepared by the representative, who altered documents pertaining to customer accounts, including reusing signatures from previously completed forms, [...]

Jun 15, 2016

Philadelphia Broker Pleads Guilty To Fraud

By |June 15th, 2016|Broker Check, FINRA, Fraud, Misrepresentation and Fraud, Ponzi Scheme, Press Releases & News, Securities Law Violations|

William Bucci, a former stockbroker from Philadelphia, Pennsylvania, pleaded guilty to securities fraud and related charges for thieving around $3 million from investors for an import business that never existed and other ventures. According to prosecutors, Bucci told investors that he would import high-end olive oil and wine from Italy. He further convinced his [...]

Jun 3, 2016

Wells Fargo Broker Banned By FINRA

By |June 3rd, 2016|Banking Fraud, Broker Check, FINRA, FINRA News, Fraud, Misrepresentation and Fraud, Press Releases & News|

Former Wells Fargo broker John Christopher Pierce agreed to be barred from working with any firm registered with FINRA after he allegedly stole from his clients' bank accounts. At the time of the alleged misconduct, Pierce was both a registered broker-dealer with Wells Fargo as well as a personal banker at a Wells Fargo Bank [...]

May 27, 2016

Alabama Man Sentenced For Securities Fraud

By |May 27th, 2016|Alabama, Alabama Securities Commission, Broker Check, FINRA, Fraud, Huntsville, Madison County, Misrepresentation and Fraud, Ponzi Scheme, Press Releases & News, Securities Arbitration, Securities Law Violations, Suitability, Unregistered Securities|

Keith Michael Rogers of Huntsville, Alabama was sentenced by Madison County Circuit Court Judge Alison Austin to three years in prison for securities fraud. He received a ten year split sentence and will serve three years and has seven suspended. Judge Austin also ordered Rogers to pay $1.7 million in restitution. The sentencing follows [...]

May 24, 2016

NBA/NFL Players Win $819k FINRA Award

By |May 24th, 2016|Broker Check, Failure To Supervise, FINRA, FINRA News, Press Releases & News, Securities Arbitration|

Two former professional athletes, one from the National Basketball Association (NBA) and one from the National Football League (NFL), won an $819,000 arbitration award against Morgan Stanley Smith Barney in a case that revolved around the broker-dealer's negligent supervision of a former broker. The arbitration was brought by Keyon Dooling, who played guard in [...]

May 18, 2016

FINRA Bars Broker Miguel Hernandez

By |May 18th, 2016|Broker Check, FINRA, FINRA News, Misrepresentation and Fraud, Press Releases & News|

FINRA barred Miguel Hernandez from the securities industry after he allegedly lied to an elderly woman he met in church to acquire $25,000 in cash. While registered with Thrivent Investment Management Inc., the former broker told the client he needed the money to pay for expenses related to his tax business, according to a settlement [...]

May 17, 2016

Leavitt Sanders’ Clients May Have Legal Rights

By |May 17th, 2016|Alabama, Broker Check, Fiduciary Duties, FINRA, Fraud, Georgia, Misrepresentation and Fraud, Press Releases & News, Securities Law Violations|

The Frankowski Firm, LLC has filed several lawsuits alleging that Leavitt Sanders and the entities he traded through committed investment fraud. These entities include Leavitt Financial Group, Inc., Sanders Yearian Advisory Group, Inc., Triad Advisors, Inc., IFC Holdings, Inc. d/b/a INVEST Financial Corporation, and Capital Asset Advisory Services, LLC. The investors allegedly defrauded, many of [...]

May 9, 2016

PA Financial Advisor Defrauds Pro Athletes

By |May 9th, 2016|Broker Check, FINRA, Fraud, Misrepresentation and Fraud, Ponzi Scheme, Press Releases & News, SEC, Securities Law Violations|

Louis Martin Blazer, III, a financial advisor from the Pittsburgh, Pennsylvania area took cash from numerous professional athletes to invest in movie projects in which he had an interest, according to the SEC. Blazer used roughly $2.35 million from five clients without their authorization to help finance two motion pictures: "Mafia the Movie" and "Sibling." [...]

Apr 28, 2016

Complaints Against Merrill Lynch Broker For Unsuitable Recommendations

By |April 28th, 2016|Broker Check, FINRA, FINRA News, Misrepresentation and Fraud, Press Releases & News, Securities Arbitration, Securities Law Violations, Suitability|

According to FINRA's BrokerCheck, Merrill Lynch broker Heather Weber has been the subject of at least seven customer complaints. The complaints claim that Weber violated securities laws, including soliciting unsuitable investments and making misrepresentations of materials facts. In January 2016 a customer filed a complaint alleging $200,000 in damage stemming from unsuitable investment recommendations [...]

Apr 27, 2016

Broker Faces Numerous Complaints Of Misrepresentations

By |April 27th, 2016|Broker Check, Churning, Fiduciary Duties, FINRA, FINRA News, Misrepresentation and Fraud, Press Releases & News, Securities Arbitration, Securities Law Violations, Unauthorized Trading|

According to FINRA's BrokerCheck, New York-based Worden Capital Management broker Allan Montalbano is facing numerous customer complaints for making misrepresentations, among other allegations. Montalbano has spent 13 years in the securities industry and has been registered with Worden Capital Management in Westbury, New York since June 2015. Previous registrations include Four Points Capital Partners in [...]

Apr 14, 2016

Frankowski Firm Investigating Former Broker Jerry McCutchen

By |April 14th, 2016|Broker Check, FINRA, Press Releases & News, REIT, Securities Law Violations, Suitability|

The Frankowski Firm is investigating ex-broker Jerry McCutchen. If you purchased real estate investment trusts ("REITs") from him and lost money, you may have grounds to bring a securities claim. According to FINRA's BrokerCheck, McCutchen has been accused of making unsuitable investment recommendations. He has also been the subject of numerous broker fraud claims alleging [...]

Apr 12, 2016

Investors File Churning Complaints Against John Prinzivalli

By |April 12th, 2016|Broker Check, Churning, Fiduciary Duties, FINRA, FINRA News, Fraud, Press Releases & News, Securities Arbitration, Securities Law Violations, Suitability|

According to FINRA's BrokerCheck, broker John Prinzivalli has been the subject of two churning complaints since 2010. Other complaints against Prinzivalli have alleged a number of securities law violations including that the broker made unsuitable investments and breached his fiduciary duty. One complaint filed in October 2014 alleges $130,000 in damages due to unsuitable recommendations, [...]

Apr 8, 2016

Investors File Complaints Against James Hayne

By |April 8th, 2016|Alabama, Broker Check, Churning, Failure To Supervise, Fiduciary Duties, FINRA, Fraud, Misrepresentation and Fraud, Press Releases & News, Suitability, Unauthorized Trading|

The Frankowski Firm is investigating complaints regarding Texas-based Cetera Advisors broker James Hayne (CRD# 3257845). He has spent sixteen years in the securities industry and has been registered with Cetera Advisors in Mansfield, Texas since 2014. Previous registrations include Questar Capital Corporation in Glendora, California (2013-2014); First Allied Securities in Glendora, California (2008-2013); Edward Jones in Pomona, [...]

Apr 5, 2016

Ex-Broker Charged With Improper Trading

By |April 5th, 2016|Broker Check, FINRA, FINRA News, Hedge, Bond & Mutual Funds, Press Releases & News, Securities Law Violations, Suitability|

FINRA charged David Randall Lockey, a former broker, with profiting as a result of improper trading of customer accounts over a span of nearly two years. According to FINRA's complaint, Lockey “engaged in unsuitable short-term trading and switching in” mutual funds and unit investment trusts in four accounts between May 2012 and March 2014 during his time [...]

Mar 17, 2016

Broker Took $1.7M By Churning Accounts

By |March 17th, 2016|Broker Check, Churning, FINRA, FINRA News, Press Releases & News, Securities Law Violations|

Broker Edward Beyn allegedly received over $1.7 million in commissions and fees by excessively trading his clients' accounts, or "churning," while he was a registered representative with Craig Scott Capital, according to FINRA's Enforcement Department. FINRA claims Beyn churned nine accounts of six of his customers, all of whom are over 60 years old, [...]

Mar 16, 2016

Frankowski Firm Investigating Morgan Stanley Broker

By |March 16th, 2016|Bonds, Broker Check, FINRA, Misrepresentation and Fraud, Press Releases & News, Securities Law Violations, Suitability|

The Frankowski Firm is investigating claims pertaining to Angel E. Aquino-Velez of Miami, Florida, who has been registered with Morgan Stanley since February 2010. Aquino has also been registered with Merrill Lynch, Pierce, Fenner & Smith, Inc. in Guaynabo, Puerto Rico (September 2006-September 2009) and UBS Financial Services, Inc. in Manati, Puerto Rico (May 2000-September [...]

Mar 15, 2016

Laidlaw Broker Facing Eight Complaints

By |March 15th, 2016|Broker Check, Churning, Fiduciary Duties, FINRA, FINRA News, Fraud, Misrepresentation and Fraud, Press Releases & News, Securities Arbitration, Securities Law Violations, Suitability, Unauthorized Trading|

The Frankowski Firm is investigating Laidlaw broker Ahmad Wares of New York. Wares is the target of several customer complaints, and Ware's clients who lost money investing with him may be able to recover their losses. Wares spent fifteen years in the securities industry and has been registered with Salomon Whitney in Farmingdale, New York [...]

Mar 2, 2016

Ex-MetLife, Pruco Broker Accused Of Deceptive Variable Annuity Sales Practices

By |March 2nd, 2016|Broker Check, Failure To Supervise, FINRA, FINRA News, Fraud, Misrepresentation and Fraud, Press Releases & News, Suitability, Variable Annuity|

FINRA has accused a former MetLife Securities Inc. and Pruco Securities Inc. broker, Winston Wade Turner, of harmful and deceptive variable annuity sales practices. According to FINRA's complaint, Turner allegedly "engaged in a course of deception and other misconduct in connection with sales and exchanges of variable annuities involving numerous customers." Turner also allegedly induced [...]

Feb 5, 2016

Frankowski Firm Investigating UBS Broker

By |February 5th, 2016|Broker Check, Failure To Supervise, Fiduciary Duties, FINRA, Press Releases & News, SEC, Securities Law Violations, Suitability, UBS, Unauthorized Trading|

The Frankowski Firm is currently investigating the possible wrongdoing of current UBS Financial Services broker Bradley Ross of Fort Lauderdale, Florida. According to FINRA's BrokerCheck, Ross has been the subject of a number of customer complaints. In 2015, a customer alleged Ross, while employed at UBS, recommended investments not consistent with their risk tolerance. The [...]

Feb 4, 2016

Former Wedbush Securities Broker Defrauds Elderly Customer

By |February 4th, 2016|Broker Check, FINRA, FINRA News, Fraud, Misrepresentation and Fraud, Ponzi Scheme, Press Releases & News|

  In July 2014, Michael Winegar, formerly a broker with Wedbush  Securities, allegedly convinced an elderly customer to pay him $100,000. Winegar told the 85-year-old customer that he would use the funds to create an independent advisory firm through which Winegar would supposedly satisfy the $100,000 debt by providing the customer with free investment advice [...]

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