Newbridge Securities Corporation Tag Archives

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.

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.

Articles Tagged with Newbridge Securities Corporation

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

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

Newbridge Securities Corporation in Financial Trouble