Ex-El Paso Financial Advisor Allegedly Took Over $61K From Client Credit Line On November 29, 2021, the Financial Industry Regulatory Authority (FINRA) barred Jesus Rodriguez. The former Texas broker was accused of taking over $61K from a client credit line for his own use. The sanction came after he refused…
A Claimant is Requesting Up to $5M in Damages For Northstar (Bermuda) Losses An older investor has filed a FINRA arbitration claim over losses she sustained in Northstar Financial Services (Bermuda) while working with Cetera Investment Services, LLC. The claimant is a retiree and a foreign national who had an…
Fort Lauderdale, Florida Financial Advisor is Named in Six-Figure Customer Dispute Robert Brian Wolfe, who was a Goldman Sachs broker from July 2020 to October 2021, was recently dismissed by the broker-dealer. His firing came following allegations related to client communications involving market valuations and portfolio performance, as well as…
Ohio Financial Advisor is Accused of Negligence and Unsuitability Daniel James Lauletta, an MML Investors Services stockbroker and investment advisor, is currently named in three pending customer disputes, including one in which the claimant is requesting $1M in damages. The Broadview, Ohio financial advisor has worked in the industry for…
Joliet, Illinois Financial Advisor Faces Criminal Charges For Wire Fraud Ronald Terrence Molo, a former Edward Jones broker, is accused of misappropriating customers’ funds and costing at least three older clients $778,000 in investment losses. He was suspended by the Financial Industry Regulatory Authority (FINRA) beginning October 25, 2021, after…
Ex-Mesa, Arizona Financial Advisor Has Been Named in Multiple Customer Disputes Ex-Raymond James broker, Guilford Ward Nergard, is facing at least one still pending customer dispute in which the claimant is alleging unauthorized trading. This is not the only time that Nergard has been accused of broker misconduct. He was…
GPB Private Placements Were Sold Through Brokerage Firm’s AdvisorDirect® Service An investor recently filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against broker-dealer TD Ameritrade over losses sustained in GPB investments. The private placements from GPB Capital Holdings were recommended by an investment advisor via the TD Ameritrade AdvisorDirect®…
Beleaguered Alternative Asset Firm Also Reaches $30M Settlement With Former Prime CEO New York-based GPB Capital Holdings, LLC has finalized its sale of its Prime Automotive Group to Group 1 Automotive. The purchase includes all of Prime Auto’s assets, including over two dozen car dealerships and three collision centers. The…
Non-Traded REIT Causes Investor Losses of Up To Over 95% Our non-traded real estate investment trust (non-traded REIT) lawyers are continuing to look into claims of losses by investors whose financial advisors marketed and sold shares in Hospitality Investors Trust (HIT REIT). This investment was previously named American Realty Capital…
Ex-Arkadios Capital Financial Advisor is Accused of Unsuitability & Concentration A former broker and investment advisor, Marc Frederick Korsch, is currently named in several pending customer disputes in which, as of November 2021, the claimants are still seeking to recover $2.8M in damages. Korsch was an Arkadios Capital financial advisor…