FINRA

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.

Merrill Lynch Ordered to Pay $1.7 Million in Puerto Rico Bond Fraud Case Involving Broker Alex Gierbolini

Published on: January 27, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Merrill Lynch Fined For Involvement In Puerto Rico Bond Fraud Case

In a recent award, a Financial Industry Regulatory Authority (FINRA) arbitration panel has decided that Merrill Lynch must pay a former professional baseball player and his wife $1.7 million in compensatory damages, plus $88,758 in costs, for losses they sustained from investing in Puerto Rico bonds and closed-end bond funds.

The retired MLB player is Angel Pagan and his wife is Windy Pagan, a former Ms. Puerto Rico. Angel was an outfielder for the NY Mets, the Chicago Cubs, and the San Francisco Giants before retiring to live on the island.

Shepherd Smith Edwards and Kantas Investigates Ex-First Allied Securities Broker Shlomo Strugano

Published on: January 23, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Former First Allied Securities Rep. Accused of Inappropriate REIT Recommendations

Our investor lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) are looking into claims by clients of former First Allied Securities stockbroker Shlomo Strugano. Strugano was barred by the Financial Industry Regulatory (FINRA) earlier this month.

Strugano, also known as Shlomy Strugano, is based in California. He has been the subject of at least four customer disputes, two of which are still pending. The ex-stockbroker is accused, among other things, of making inappropriate recommendations involving real estate investment trusts (REITS) to customers.

SSEK Investigates Investment Fraud Claims Involving Rogue Broker Anthony Diaz

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

Barred Broker Named In Almost 50 Customer Complaints

Anthony Diaz, a former Pennsylvania stockbroker and investment advisor who has been the subject of dozens of customer complaints, is finally on trial for fraud. Jury selection is slated to start this week.

Our investor lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) are speaking with former investors who worked with Diaz at one of the 11 brokerage firms where he was registered including Edward Jones, Raymond James and First Allied Securities to help determine if they have grounds for a broker fraud claim.

Shepherd Smith Edwards and Kantas Investigate Claims Involving Barred National Planning Broker William Glaser

Published on: January 17, 2020 | by Shepherd Smith Edwards & Kantas, LLP

National Planning Ordered to pay $2.6M to Older Investor

A Financial Industry Regulatory Authority (FINRA) panel is ordering National Planning Corp. to pay a customer, who is in her eighties, $2.6M after her former stockbroker, William August Glaser, sold her unsuitable investments. The investments including fraudulent promissory notes and non-traded REITs (real estate investment trusts). $1M of the award is for punitive damages.

William Glaser, who was fired by National Planning and barred by FINRA in 2017, is currently in prison for wire fraud.

Shepherd Smith Edwards and Kantas investigates Martin David Batstone and Newbridge Securities Corp.

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

SSEK Currently Investigating Ex-National Securities Broker, Martin David Batstone

Shepherd, Smith, Edwards & Kantas (“SSEK Law Firm”), a law firm specializing in representing wronged investors, is looking into allegations against Martin David Batstone, formerly employed by Newbridge Securities Corp. out of San Diego, California. Prior to that, he worked at Crown Capital Securities and Independent Financial Group, LLC.

According to allegations, Batstone used his position as a financial advisor to solicit investments in outside business activity. It is unclear if this outside operation was approved by Newbridge Securities or his prior employers. It is further alleged Batstone utilized a portion of the funds for his own use.

Shepherd Smith Edwards and Kantas Investigates Claims Involving Ex-Woodbury Financial Services Broker Robert Hayes Hoffman

Published on: December 26, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Barred Woodbury Financial Services Broker Accused of Misrepresentations and Fraud

If you are an investor who lost money while Robert Hayes Hoffman was your financial representative, our broker misconduct lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) would like to talk to you. Hoffman was barred by the Financial Industry Regulatory Authority (FINRA) in 2017 and the Indiana Securities Division in 2018. He was a Woodbury Financial Services broker from 2006 and 2017. After that, for less than a year, he was a Thurston, Springer, Miller, Herd & Titak broker until the FINRA bar.

Hoffman’s BrokerCheck record notes that he has already been the subject of at least three customer disputes. One claim, alleging unsuitability, misrepresentations, breach of fiduciary duty, and selling away, was settled for $250K. Another customer dispute, which made similar allegations, including churning, was settled for over $1M. A third dispute, which accused Hoffman of recommending a variable annuity that was not only unsuitable for the claimant but also resulted in tax consequences for her, was settled for nearly $48K.

Lek Securities Ex-CEO Samuel Lek Barred by FINRA and Major Exchanges

Published on: December 24, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Lek Securities Accused of Enabling Manipulative Trading

The Financial Industry Regulatory Authority (FINRA) and most major US securities exchanges have permanently barred broker Samuel Lek, who is also the former CEO of Lek Securities. Meanwhile, the broker-dealer was fined $900K.

The bars by the self-regulatory organization (FSRO), the New York Stock Exchange (NYSE), the Nasdaq Stock Market, Cboe Global Markets, and their affiliate exchanges were part of 10 distinct settlements. They came in the wake of allegations that Lek Securities gave foreign traders market access and that some of these traders proceeded to engage in manipulative trading and fraud. Lek and Lek Securities settled the charges but without denying or admitting to them.

Shepherd Smith Edwards and Kantas Investigates Claims Involving Ex-Pruco Broker Joseph Viet Duy Phan

Published on: December 16, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Former Pruco Securities Broker Accused of Borrowing Customers’ Money

The Financial Industry Regulatory Authority (FINRA) announced that it is barring Joseph Viet Duy Phan, an ex-Pruco Securities broker, after he did not appear at a hearing in the self-regulatory organization’s (SRO) probe into why he was fired by the broker-dealer. Phan was let go by Pruco for allegedly borrowing money from two clients’ accounts without firm approval. Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) is currently looking into potential investor claims against the former Pruco broker and his firm. If you lost money while working with Phan as your registered representative, contact our broker fraud lawyers today.

Phan was a Pruco broker from 2007 into 2018. Aside from allegedly borrowing money from clients’ accounts without authorization, he is also accused of trying to deposit one client’s insurance premium check into an account that was in his name.

First Broker Fraud Case Involving GPB Capital Investments Gears Up for Spring FINRA Hearing

Published on: December 12, 2019 | by Shepherd Smith Edwards & Kantas, LLP

GPB Capital Fraud Victim To Have Case Heard By FINRA

An investor who lost significant sums after she was sold GPB Capital private placements by an Arkadios Capital broker will get her case heard before a Financial Industry Regulatory Authority arbitration (FINRA) panel in April 2020.

This will likely be the first broker fraud complaint involving GPB investments to go before the self-regulatory organization’s (SRO’s) arbitrators.