Wells Fargo Clearing Services Tag Archives

Former Wells Fargo Broker Mario Rivero Charged With $500K Investment Fraud

Published on: March 16, 2022 | by Shepherd Smith Edwards & Kantas, LLP

Ex-Wells Fargo Clearing Services Advisor Allegedly Misappropriated Funds from Elderly Investors

Mario Everildo Rivero is charged with two counts of wire fraud, one count of securities fraud, and one count of investment advisor fraud. He was arrested on March 14, 2022. The ex-Wells Fargo Clearing Services broker is accused of stealing more than $500K from clients. All of them were older investors.

Prosecutors contend that from April 2018 to November 2020, when Rivero was working as a Wells Fargo financial advisor, he misappropriated at least $529K from four customers. This allegedly included:

Mexico Investors File $500K Northstar Financial Services (Bermuda) Claim Against Wells Fargo Clearing Services

Published on: September 30, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Northstar Bermuda FINRA Arbitration Hearing to Take Place in Houston, Texas

A couple who live in Mexico has filed a FINRA arbitration claim against Wells Fargo Clearing Services for the six-figure loss they sustained from investing in Northstar Financial Services (Bermuda).

The claimants were longtime Wells Fargo Bank clients and they were referred to a financial advisor at the broker-dealer. They would go on to work with other Wells Fargo Securities brokers as time passed.

Customers Blame Ex-Wells Fargo Broker Clearing Services Herbert Weith For Variable Annuity Losses

Published on: December 28, 2020 | by Shepherd Smith Edwards & Kantas, LLP

New FINRA Arbitration Claim Seeks $260K in Damages

Former Wells Fargo Clearing Services (WRET) broker Herbert Lee Weith IV is named in yet another customer dispute in which the claimant is seeking damages for losses involving variable annuities. Weith, who was a Wells Fargo broker from 2012 to 2019 in Naples, Florida, became a registered investment advisor for Equitable Advisors, LLC, in Columbia, Maryland from January to October of 2020.

Our Florida broker fraud attorneys have been looking into complaints by ex-Wells Fargo customers of Weith who suffered serious investment losses that may have been caused by unsuitable investment recommendations. Contact our attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) today.