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Mar 2, 2017

Craig David Dima Barred By FINRA

By |March 2nd, 2017|FINRA, FINRA News, Legal Matters, Press Releases & News, Securities Law Violations, Suitability, Unauthorized Trading|

Craig David Dima, an ex-registered representative with K.C. Ward Financial in Ronkonkoma, New York, was barred from the securities industry by FINRA for making unauthorized and unsuitable trades amounting to roughly $15 million in a seventy-three (73) year old retiree's account, as well as for misrepresenting the reasons for all the trades to the customer. [...]

Jan 19, 2017

Henry Al Dean Watson Barred By FINRA

By |January 19th, 2017|Broker Check, Churning, FINRA, FINRA News, Press Releases & News, Unauthorized Trading|

FINRA announced that it barred an ex-Hilliard Lyons broker, Henry Al Dean Watson, who recently settled a customer complaint accusing him of excessive trading and commissions, unauthorized trades, and portfolio mismanagement. Watson broke FINRA rules by failing to appear to give testimony before the regulator. Watson began in the securities business in 1984. He was registered [...]

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 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, [...]

Mar 17, 2016

Former Broker Sentenced For Fraud & Tax Evasion

By |March 17th, 2016|Fraud, Misrepresentation and Fraud, Ponzi Scheme, Press Releases & News, Unauthorized Trading|

Jeffrey Eldred Gallagher of Bradenton Beach, Florida was sentenced in Springfield, Massachusetts for an investment scheme that defrauded victims out of over $600,000 from 2008 to 2012. According to U.S. Attorney Carmen Ortiz, Gallagher was sentenced by U.S. District Court Judge Mark G. Mastroianni to three years in prison. Gallagher was convicted in December 2015 [...]

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 [...]

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 [...]

Sep 23, 2015

Two Charged In Alabama Securities Fraud Case

By |September 23rd, 2015|Alabama, Alabama Securities Commission, Fraud, Misrepresentation and Fraud, Press Releases & News, Securities Law Violations, Unauthorized Trading, Unregistered Securities|

Bruce Alexander Gwyn of Metairie, Lousiana and James Anthony Ghio of Fairhope, Alabama were arrested on charges of fraud and illegal sales, the Alabama Securities Commission announced. The indictment alleges that they offered or sold securities described as limited partnership interests in Level III Trading Partners LP to an Alabama resident. The indictment further accuses [...]

May 12, 2015

FINRA Investigating National Securities Broker

By |May 12th, 2015|Broker Check, Churning, Fiduciary Duties, FINRA, FINRA News, Misrepresentation and Fraud, Press Releases & News, Securities Law Violations, Selling Away, Suitability, Unauthorized Trading|

FINRA has filed a complaint against broker Vito Balsamo alleging that Balsamo was "selling away" ownership interests in a limited liability company named V.W. Industries, LLC without getting prior written approval from his member firm. Selling away occurs when an investment professional sells or offers securities not held or offered by the brokerage firm with [...]

Mar 30, 2015

Alabama Man Pleads Guilty In Ponzi Scheme Case

By |March 30th, 2015|Failure To Supervise, FINRA News, Misrepresentation and Fraud, Ponzi Scheme, Press Releases & News, Securities Arbitration, Securities Law Violations, Selling Away, Unauthorized Trading|

Over a five year span, former Hoover, Alabama financial broker Bryan Anderson found eighteen people to invest $8.4 million in a number of investments and guaranteed that the investments were completely risk free. Roughly two thirds of those investors watched Anderson at the federal courthouse in downtown Birmingham plead guilty to operating a Ponzi scheme [...]

Mar 19, 2015

FINRA’s March 2015 Disciplinary Actions Part I

By |March 19th, 2015|Churning, Failure To Supervise, FINRA News, Misrepresentation and Fraud, Press Releases & News, Securities Law Violations, Suitability, Unauthorized Trading|

Bulltick, LLC of Miami, Florida submitted an AWC in which the firm was censured and fined $20,000. Despite not admitting or denying FINRA's findings, Bulltick consented to the sanctions and to the entry of findings that it failed to adequately implement and enforce its written supervisory procedures on reporting TRACE-eligible securities, pursuant to a Uniform [...]

Mar 4, 2015

Frankowski Firm Investigating Leavitt F. Sanders And Associated Firms

By |March 4th, 2015|Fiduciary Duties, FINRA News, Misrepresentation and Fraud, Press Releases & News, Securities Law Violations, Suitability, Unauthorized Trading|

The Frankowski Firm is investigating the potential claims of people who invested with Leavitt F. Sanders and the firms with which he has been associated (the “Sanders Entities”). These entities include: Leavitt Financial Group, Inc., Sanders Yearian Advisory Group, Inc., Triad Advisors, Inc., TD Ameritrade, Inc., IFC Holdings, Inc. d/b/a INVEST Financial Corporation, and Capital [...]

Oct 28, 2014

FINRA Fines Merrill Lynch $6M

By |October 28th, 2014|Failure To Supervise, FINRA News, Press Releases & News, Securities Law Violations, Short-Selling, Unauthorized Trading|

FINRA fined two Merrill Lynch units $6 million yesterday for alleged short-selling rule violations, which included letting thousands of orders through their systems that violated emergency bans on 'naked' short sales in 2008. According to FINRA, Merrill Lynch Professional Clearing Corp. and Merrill Lynch Pierce Fenner & Smith Inc. did not have sufficient supervisory policies [...]

Oct 23, 2014

Connecticut Financial Adviser Admits Securities Fraud

By |October 23rd, 2014|Fiduciary Duties, Misrepresentation and Fraud, Press Releases & News, Securities Law Violations, Unauthorized Trading|

Noah Myers, a financial adviser from Lyme, Connecticut, pleaded guilty in federal court this week to defrauding a number of his client through what is called a "cherry-picking" securities fraud. Myers waived his right to indictment and entered his plea before U.S. District Judge Stefan Underhill in Bridgeport, Connecticut. Myers, who was first investigated by [...]

Oct 7, 2014

New Mexico Man Indicted On Securities Fraud Charges

By |October 7th, 2014|Misrepresentation and Fraud, Press Releases & News, Securities Law Violations, Selling Away, Unauthorized Trading|

Jeffrey B. Bland, a businessman from Albuquerque, New Mexico, was indicted last week on felony charges for allegedly stealing $229,000 from an elderly Alamogordo, New Mexico investor. An Otero County, New Mexico grand jury returned the criminal indictment containing eight felony charges, including securities fraud, sale of an unregistered security, and sale of a security [...]

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