Watch Out for Brokers Looking to Make High Commissions During COVID-19 With the market crashing in the wake of the Coronavirus (COVID-19), many investors are suffering from massive losses in their portfolio and are looking to their brokers for investment advice. Unfortunately, not all stockbrokers work with their customers’ best…
Articles Posted in Securities Fraud
Citigroup, LPL Financial, Morgan Stanley, JP Morgan Securities, and Merrill Lynch Fined $1.4M for Failure to Reasonably Supervise
Broker-Dealers Accused of Not Properly Supervising Custodial Accounts The Financial Industry Regulatory Authority (FINRA) announced that it has fined five major firms $1.4M in total for not reasonably supervising custodial accounts. The broker-dealers are: Citigroup (C), which will pay $300K. Morgan Stanley Smith Barney (MS), which will pay $300K. JP…
Rogue Broker Named in Over 50 Complaints Found Guilty of Mail & Wire Fraud
Rogue Broker Convicted & Faces Decades In Prison A jury has convicted Anthony Diaz, a barred rogue stockbroker who was fired by several brokerage firms and has been the subject of more than four dozen customer complaints, of 11 counts of wire fraud and mail fraud. Each criminal court comes…
Shepherd Smith Edwards and Kantas Investigates Ex-Cetera Advisors Broker Roger Owens
Fired Cetera Advisors Broker Accused Of Unauthorized Securities Sales Our stockbroker fraud attorneys are speaking to former clients of former Cetera Advisors LLC broker, Roger Lee Owens that sustained substantial investment losses while working with him. Contact Shepherd Smith Edwards and Kantas (SSEK Law Firm) today to schedule your free,…
Shepherd Smith Edwards & Kantas Investigates Merrill Lynch and Gordon Harper over Collateral Yield Enhancement Strategy (CYES) Damages
Collateral Yield Enhancement Strategy (CYES) Damages: SSEK Investigating Merrill Lynch Financial Advisor Shepherd Smith Edwards & Kantas (SSEK), a law firm specializing in representing wronged investors is looking into allegations against Gordon Harper, a financial advisor with Merrill Lynch out of Upper Montclair, New Jersey. Prior to that, he worked…
Shepherd Smith Edwards and Kantas Investigates Claims Involving Ex-Commonwealth Financial Network Broker Gerald Eaton
SSEK Investigating Ex-Commonwealth Financial Network Broker SSEK Law Firm is meeting with investors who suffered losses while working with former Commonwealth Financial Network broker, Gerald Allan Eaton, or another financial representative from the firm. Eaton was recently barred by the Financial Industry Regulatory Authority (FINRA) in the wake of allegations…
Alleged $125M Offering Fraud Touted “Highly Profitable” Trading Strategy
The US Securities and Exchange Commission (SEC) has secured an asset freeze against three people and entities accused of operating a $125M offering fraud. The regulator contends that the international trading program, run by Mediatrix Capital, Inc. and its principals Michael Stewart, Michael Young, and Bryant Sewall, touted an algorithmic…
Former LPL Broker and Ex-Convict Accused in $3.3M Investor Fraud
Ex-target=”_blank” rel=”noopener noreferrer”>LPL Financial (LPLA) broker, Kerry L. Hoffman, is now facing fraud charges brought by the US Securities and Exchange Commission (SEC). Hoffman is accused of fraudulently selling $3.3M of unregistered securities, along with childhood friend Thomas V. Conwell, who is also a defendant in the civil case. The…
Options Trading Website Owner Faces Charges in Alleged $4M Online Binary Options Fraud
The US Securities and Exchange Commission has filed fraud charges against Mark Suleymanov, who owns the options trading website SpotFN. According to the regulator, Suleymanov, who is a New York resident, defrauded retail investors of about $4M in a binary options scam that took place from at least 2012 to…
Investor Fraud: FINRA Awards Over $1M in Churning Case Against Legend Securities and Morgan Stanley Financial Adviser is Sentenced After Spending Over $950K of Clients’ Money
Legend Securities Ordered to Pay Client For Churning His Funds A Financial Industry Regulatory Authority (FINRA) panel has awarded Herbert W. Voss $1.075M in his securities fraud case against Legend Securities Inc., its ex-chief compliance officer Frank Philip Fusco, and former Legend broker Danard Warthen Brown. Legend is no longer…