Newbridge Securities

Newbridge Securities Sold Hospitality Investors Trust To Customers

Published on: January 27, 2022 | by Shepherd Smith Edwards & Kantas, LLP

HIT REIT Investors Continue to Report Investment Losses

It is January 2022 and Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) continues to offer free, no-obligation case consultations to investors who suffered losses in Hospitality Investors Trust.

The non-traded real estate investment trust (non-traded REIT), also known as HIT REIT, is believed to have cost some investors losses of up to 95%. Our savvy securities attorneys are here to help determine whether you have grounds for a FINRA arbitration claim to pursue damages.

FINRA Bars Ex-Newbridge Securities Broker Marshall Isaacson Following Unsuitability Claims

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

Stockbroker Marshall Owen Isaacson Named in Four Customer Complaints Since 2019

The Financial Industry Regulatory Authority (FINRA) recently barred Marshall Owen Isaacson, an ex- Newbridge Securities stockbroker based out of Boca Raton, Florida. Isaacson is accused by customers of making unsuitable investment recommendations and committing broker negligence. With 35 years in the industry, the now ex-registered representative worked at 12 broker-dealers.

Our Florida securities fraud attorneys have been speaking to former customers of Marshall Isaacson who may have suffered significant losses. Contact our securities fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm) online today.

Customers Blame Newbridge Securities Broker Kerri Jamison For Investment Losses

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

Dually Registered Rep. Faces Multiple FINRA Arbitration Claims by Investors

Kerri Suzanne Jamison, a Newbridge Securities Corp. and Newbridge Financial Services Group stockbroker, is currently the subject of pending complaints by customers who claim they lost money because of investment recommendations she made.

Jamison, who has worked under the names Kerri Lasegue and Kerri Romero, is one of several of the firm’s registered representatives to become the subject of stockbroker fraud claims in recent years. According to her BrokerCheck record, Jamison has been named in four customer disputes. One was settled, and three, which were filed this year, are still pending:

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.

Newbridge Securities, Under Investigation for GPB Private Placement Sales, Fined $225K for Inadequate Supervision

Published on: October 30, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Newbridge Securities in Boca Raton, a Florida-based broker-dealer, is censured by the Financial Industry Regulatory Authority (FINRA) and has been fined $225K over its purported failure to adequately supervise the sale of exchange-traded funds, structured notes, and other complex securities.

The self-regulatory authority (SRO) also fined the firm’s investment banking director, Bruce Jordan, $5K for failing to properly supervise the sales. He is suspended for two months.

GPB Private Placement Lawyers

Newbridge Securities Corporation in Financial Trouble

Published on: May 28, 2019 | by Shepherd Smith Edwards & Kantas, LLP

In March 2019, Newbridge Securities Corporation (“Newbridge”) filed its Form X-17A-5, commonly called a firm’s Focus Report, with the Securities & Exchange Commission (“SEC”). The Focus Report showed that in 2018, Newbridge had almost $33 million in revenues, yet reported only about $108,000 in net profits.

The accounting firm that audited Newbridge disclosed in its “Opinion on the Financial Statements” that “there is substantial doubt about [Newbridge’s] ability to continue as a going concern.” This means that the finding from the CPA firm of Newbridge in financial trouble means investors that hold accounts with the firm should be concerned.

Newbridge is a Boca Raton, Florida based brokerage and financial services firm. Although the firm claims to have “over 80 locations in the US”, its website only lists offices in Boca Raton, Ft. Lauderdale, Scottsdale, Chicago and a few locations in New York.

FINRA Suspends Ex-UBS Broker Who is Now With Newbridge Securities

Published on: November 29, 2018 | by Shepherd Smith Edwards & Kantas, LLP

The Financial Industry Regulatory Authority (FINRA) has suspended David Howard Fagenson, a former UBS Financial Services (UBS) broker, for eight months. Fagenson, now registered with Newbridge Securities, is accused of unsuitable trading in the accounts of three older clients.

The allegedly excessive trades are said to have created significant losses for the UBS customers, even as Fagenson and the brokerage firm made hundreds of thousands of dollars in commissions and markups for the same transactions. The settlement between the self-regulatory authority (SRO) and the ex-UBS broker states that the trading violations took place between January 2012 and September 2016.

FINRA said that the senior investors that the ex-UBS broker harmed included a 95-year-old widow with an over $5M net worth who had numerous accounts at the firm. While her brokerage account purportedly lost $283K during the period at issue, she paid $260K in markups and commissions.

Broker Fraud Cases: Former Newbridge Securities Broker Pleads Guilty in $131 Market Manipulation Scheme and FINRA Bars LPL Financial Broker for Depositing Client Funds Into His Own Account, and Lincoln Financial Securities is Fined $650K for Not Protecting Client Information

Published on: November 17, 2016 | by Shepherd Smith Edwards & Kantas, LLP

Ex-Newbridge Securities Broker Involved in $131M Fraud Pleads Guilty
Gerald Cocuzzo, has pleaded guilty to securities fraud related to his involvement in a $131M market manipulation scam involving Forcefield Energy Inc. (FNRG). According to the U.S. Justice Department, between 1/2009 and 4/2015, Cocuzzo and others sought to bilk investors in the publicly traded company that globally distributes and provides LED lighting products. They did this by artificially manipulating the volume and price of the shares that were traded.

Meantime, Cocuzzo received kickbacks for buying Forcefield stock in his clients’ brokerage accounts. He did not tell the customers that he was receiving these payments. Instead, he and several others sought to hide their involvement.

Newbridge Securities fired Cocuzzo earlier this year following the federal indictment. Before working at Newbridge, he was registered with IAA Financial, previously called CBG Financial Group Inc.