Broker Fraud

Ex-Kestra Financial Broker Involved in Investor Fraud Claims and Accused of Unauthorized Trading

Published on: March 25, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Barred Kestra Investment Services Stockbroker Accused of Unauthorized Trading

Our investor fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) are currently speaking with former customers of ex-Kestra Investment Services broker, James Blake Daughtry. He was recently barred by the Financial Industry Regulatory Authority (FINRA).

The self-regulatory organization (SRO) issued the ban after Daughtry refused to testify during its investigation into allegations that he may have engaged in transactions that were potentially “fraudulent and unauthorized” in a number of customers’ accounts. Also, in the wake of FINRA’s order, Kestra fired him this month.

Some Brokers Are Taking Advantage Of Investors During The COVID -19 Coronavirus

Published on: March 24, 2020 | by Shepherd Smith Edwards & Kantas, LLP

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 interests at heart, breaching their fiduciary duty in the process. There are also unscrupulous registered representatives who may even seek to take advantage of these hard times and try to persuade investors to buy into risky investments that charge high commissions. Such fraudulent and negligent behavior will lead to even more investment losses and ultimately, acts of stockbroker misconduct.

Broker Fraud and Investment Losses During The Time of The Coronavirus

Published on: March 20, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Investment Losses During Recent Market Crisis May Be Recoverable

Investors throughout the United States are grappling with financial investment losses as markets continue to remain volatile in the wake of Coronavirus (COVID-19). The recent oil price drops, the rise in unemployment as businesses are forced to shutter and lay off employees, and a flailing economy has done nothing to assuage growing concerns.

Already, Shepherd Smith Edwards and Kantas (SSEK Law Firm) has spoken to a number of these investors to see how we might help.

Experts Say: Expect More FINRA Arbitration Cases Following Coronavirus and Market Volatility

Published on: March 19, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Investment Losses During COVID-19 Pandemic May Have Been Caused By Fraud Or Negligence

According to experts, George Friedman and Rick Ryder, fears about the novel coronavirus (COVID-19) and the resulting market turbulence will lead to a rise in investor fraud claims and FINRA arbitration cases. Friedman is the Securities Arbitration Alert editor-in-chief and Ryder is the Securities Arbitration Commentator president and founder.

In a recent blog post, What’s Past is Prologue, they spoke about how customers will wonder whether their stockbrokers and investment advisors properly handled their accounts, which are now being negatively affected by the ongoing market volatility.

SSEK Investigates Investment Loss Claims Involving Wells Fargo Broker Jeffrey Eiler

Published on: March 13, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Wells Fargo Stockbroker Accused Of Overconcentration & Unsuitable Investments

Wells Fargo Clearing Services broker, Jeffrey Eiler, has been the subject of 12 customer investment loss disputes, most of which were settled and a few that were denied. If you are an investor who lost money while Eiler was your registered representative, our stockbroker fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm) want to offer you a free case assessment.

The customer disputes against Eiler go back more than twenty years. According to his BrokerCheck record, most of the settlements were paid by the firm where he was a registered representative.

Shepherd Smith Edwards and Kantas Investigates UIT Claims Involving Ex-Raymond James Broker

Published on: March 9, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Ex-Raymond James Broker Named In $500K UIT Investment Fraud Claim

Our stockbroker fraud lawyers are investigating claims involving Ameriprise (AMP) and former Raymond James broker, E. Kyle Davis. Contact Shepherd Smith Edwards and Kantas (SSEK Law Firm) today if you believe that you may have fallen victim to investment fraud.

Davis, who has worked over two decades in the securities industry, has been named in six disclosures including four customer disputes. Still pending is one customer claim seeking $500K in damages involving a unit investment trust (UIT) while Davis was a Raymond James Financial stockbroker. The customer is making a number of allegations, including the following:

Christopher Shaw, Founder and President of CJS Wealth Management, is the Subject of a FINRA Complaint Involving GPB Capital Recommendations

Published on: March 3, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Elderly Investor Claims $250K in GPB Fraud Losses

In yet another GPB private placement fraud case, our broker fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm) have filed a claim on behalf of an investor.

This time, the respondents are Pruco Securities and Kalos Capital, which the firm has gone after in previous private placements claims over the same investments and broker, Christopher Shaw. The claimant, who is an elderly woman from North Carolina is reporting over $250K in losses. She is seeking up to $500K in damages plus interests and other costs.

Shepherd Smith Edwards and Kantas Investigates Claims Involving Ex-First Allied Securities Broker Masood Azad

Published on: February 25, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Ex-Broker and First Allied Securities Accused in $1M Investor Fraud Case

Masood Husain Azad, a former Texas-based broker, is now the subject of an over $1M investor fraud claim. Also known as Mike Azad, he was fired by First Allied Securities in 2017. Now, First Allied Securities is a respondent in this Financial Industry Regulatory Authority (FINRA) arbitration case, which was brought by a customer.

At Shepherd Smith Edwards and Kantas (SSEK Law Firm), our broker fraud lawyers are offering a free, no obligation case assessment to former customers of Masood Azad who suffered investment losses that they suspect may be due to fraud or negligence. Contact SSEK Law Firm today.

Ex-Morgan Stanley Broker Elias Hafen Sentenced To Prison For Investment Fraud

Published on: February 13, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Ex-Morgan Stanley Broker Sentenced To 30 Months

Please contact Shepherd Smith Edwards and Kantas (SSEK Law Firm) if Elias Herbert Hafen, a former Morgan Stanley (MS) and Wells Fargo (WFC) broker, was your financial representative when you suffered substantial investment losses that you think may be due to fraud. Hafen is sentenced to 30 months in prison for defrauding former clients of over $1.6M.

The prison term comes after Hafen pleaded guilty to investment advisor fraud. Prosecutors contend that Hafen sought to defraud 11 retail customers, between 2011 until 2018, by making them think he had access to a high-yield fund that would bring them guaranteed investment returns.

Rogue Broker Named in Over 50 Complaints Found Guilty of Mail & Wire Fraud

Published on: February 10, 2020 | by Shepherd Smith Edwards & Kantas, LLP

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 with a maximum sentence of 20 years in prison.

Shepherd Smith Edwards and Kantas (SSEK Law Firm) have been speaking to former customers of Diaz who sustained investment losses while working with him. If you are one of these investors, contact our broker fraud attorneys today. You may have grounds for a civil claim against the brokerage firm where he was working at the time.