James Edward Lyons (CRD #1020397) is a former broker and investment advisor who was last registered with Raymond James & Associates, Inc. (CRD #705) of Shreveport, LA. He was previously employed by Morgan Keegan & Company, Inc. (CRD #4161), also of Shreveport, and Capitol Securities Group, Inc. (CRD #8094). No…
Articles Posted in Churning
FINRA Awards $1M To Client In Legend Securities Churning Arbitration Claim
A man whose account was churned down to $10,000 was awarded both compensatory damages of $375,000 for his original investment plus an additional $700,000 in punitive damages. The client, Herbert W. Voss, was awarded $1.075 million by FINRA. Mr. Voss’ attorney was quoted as saying that “It was like the…
Broker Ralph Byer Of Merrill Lynch Has Seven Disclosures
Ralph Michael Byer (CRD #1038411) is a registered broker and investment advisor currently employed with Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD #7691) of Plantation, Florida, where he has been since 1982. Byer has a total of seven disclosures, all of them customer disputes. The most recent was filed…
FINRA Suspends Broker Yousuf Saljooki
Back in June, we told you about Yousuf Saljooki (CRD #5045123), who was suspended by the state of Arkansas after failing to disclose an outstanding federal tax lien. This failure led to his discharge of employment by Worden Capital. He was previously discharged by SW Financial in 2017 for opening…
Cory Bataan of Emoire Asset Management Company
Cory Bataan (CRD #2755223) has been employed with Emoire Asset Management Company since April 2008. Previous employment includes Empire Asset Management Company from April 2008 to August 2012, Ameritas Investment Corp. from December 2007 to April 2008 and Joseph Stevens & Company, Inc. from October 1996 to July 2001. According…
John Maloney III of Woodbury Financial Services Inc.
John Maloney (CRD #726108) has been employed by Woodbury Financial Services Inc. since June 2016. Maloney was previously employed by Edward Jones from January 1981 to June 2016. According to the FINRA BrokerCheck, there have been several complaints against Mr. Maloney. In 2016 Claimants allege Mr. Maloney’s recommendations to purchase…
Silver Law Group Client Wins FINRA Arbitration Award Against Texas Oil Broker-Dealer Including $1,000,000.00 in Punitive Damages
Silver Law Group represented the Claimant in a FINRA arbitration claim against Texas E&P Partner, Inc. and Mark Plummer. Scott Silver, managing partner of Silver Law Group, a leading securities and investment fraud law firm, said “the Award is significant because we have seen a rise in cases involving private…
Did OptionSellers.Com Trade your IRA on Margin
OptionSellers.Com, operated by James Cordier and Michael Gross, promoted themselves as expert options traders able to manage money for retail investors promising they can produce consistent returns with limited risk. From offices in Tampa, Florida, Cordier and Gross touted their book “The Complete Guide to Options Selling” claiming to know…
Silver Law Group Files Claim Against Portfolio Advisors Alliance Alleging Brokers Churned Account and Racked Up Over $500,000 in Commissions
Silver Law Group has filed a FINRA arbitration claim against Portfolio Advisors Alliance, LLC after its brokers excessively traded (churned) the Claimant’s account. The securities arbitration claim alleges the Claimant met his initial Portfolio Advisors Alliance broker in 2013 at another brokerage firm: FINRA-barred firm John Thomas Financial. The Claimant…
SEC Charges Broker Jovannie Aquino
Jovannie Aquino (CRD #4876661, aka John Aquino) is a former registered broker of New York, NY. Previous employers include Windsor Street Capital (CRD #34171), also in New York City, John Carris Investments LLC (CRD #145767), John Thomas Financial (CRD #40982) and Hallmark Investments, Inc. (CRD #135003) of New York City.…