Articles Posted in SEC Actions

Silver Law Group is investigating claims against former Boston, Massachusetts-based Morgan Stanley brokers James Polese (CRD# 2636427) and Cornelius Peterson (CRD# 5769919) after FINRA barred both of them for allegedly stealing $450,000 from an elderly client. Both Boston, Massachusetts brokers were charged by the Securities and Exchange Commission (the “SEC”)…

These four brokers have been accused of numerous infractions National Securities Corporation has been operating for decades and has offices and brokers all over the U.S. Unfortunately, however, a significant percentage of their brokers have been involved in numerous customer complaints. Here are just a few examples of how National…

What the new code of conduct rule entails and how it could affect elderly investors Up until earlier this year, the Department of Labor had a rule in effect for fiduciaries that specified that they couldn’t earn commissions unless the advice they offered was in the best interests of their…

Broker Donald Fowler (CRD #4989632) is a broker currently registered with Worden Capital Management LLC (CRD #148366) of Rockville Center, New York. He has been with Worden since 2014. He was previously employed by J.D. Nicholas & Associates, Inc. (CRD #44791) of Syosett, NY, and American Capital Partners, LLC (CRD…

Gregory Dean (CRD #4922996), currently employed with Worden Capital Management of Rockville, NY (CRD #148366) is the subject of multiple disclosures, mostly customer complaints. He is also the subject of a civil SEC complaint and one regulatory complaint, going back to 2013.   Dean’s previous employers include: D. Nicholas &…

On the heels of a Ponzi scheme that cheated investors out of $102 million, the SEC has charged a former insurance broker with defrauding inexperienced retail investors. James Hocker, aged 48, of Bellefonte, Pennsylvania has been charged with defrauding 25 investors of $1.27 million for non-existent securities. He operated his…

Recently, there has been an important decision that affects how pension fraud schemes are handled within the United States by the Securities and Exchange Commission. The recent case was filed against DeVere USA, Inc. DeVere USA Inc. has been registered with the Securities and Exchange Commission since June 5, 2013…

On June 6, 2018, the Securities and Exchange Commission (the “SEC”) charged Essex Capital Corporation and its founder, Ralph Iannelli, with defrauding investors in connection with the sale of over $80 million in promissory notes. Silver Law Group is investigating potential claims against third parties for losses in Essex Capital…

Wedbush Securities is in hot water with the SEC, FINRA, and the New York Stock Exchange for a scheme involving its owner and founder, Edward Wedbush. Mr. Wedbush was allegedly employing a manipulative trading scheme involving over 70 accounts at Wedbush Securities. The trading practice, often referred to as “cherry-picking,”…

Timary Delorme (CRD #736418) was the subject of a March 2018 regulatory action by the Securities & Exchange Commission. Delorme was employed at the Los Angeles branch of Wedbush Morgan for over 40 years. In the recent regulatory action, the SEC found that Delorme violated federal securities laws stemming from…