Articles Posted in Stockbroker Misconduct

Matthew Evan Eckstein (CRD #2997245) was a registered broker with Sisk Investment Services, Inc. (CRD #19406) of Syossett, NY. He has been with Sisk since 2015. Eckstein was previously employed by Gould, Ambroson & Associates Ltd. (CRD #17412) of Garden City, NY.  Our New York securities arbitration lawyers are representing…

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…

The recent arrest of former broker Gary Basralian (CRD #14385) for defrauding two clients of $2.1 million also raises allegations of failure to supervise about his brokerage firm, Royal Alliance Associates (CRD #23131.) According to news reports, Basralian embezzled money from two elderly women and used the funds for his…

FINRA has barred former broker Gary Basralian (CRD# 14385) after allegations of stealing more than $2 million from two clients and using the money to pay his personal expenses. He is charged with two counts of wire fraud and one count of investment adviser fraud. His last employer was Royal…

Former broker John M. James (CRD #4609872) has been barred after failing to provide on-the-record testimony involving allegations from a previous employer. His refusal put him in violation of FINRA Rules 8210 and 2010. James was last employed with Stifel, Nicolaus & Company, Incorporated (CRD#:793) Of Golden Valley, MN. James…

Lawrence Hagedorn is barred from association with any FINRA member in any capacity. Respondent failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is automatically barred from association with any FINRA member in any capacity. Lawrence Hagedorn was registered…

Larry Wolfe is barred from association with any FINRA member in any capacity.  Respondent failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is automatically barred from association with any FINRA member in any capacity. Wolfe consented to the…

Marcus Parker was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Parker consented to the sanction and to the entry of findings that he refused to respond to FINRA’s requests for documents and information in connection with its investigation of Parker’s termination…

Jeffrey Palish was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Palish, a former Wells Fargo stockbroker, consented to the sanction and to the entry of findings that over approximately three years, he converted more than $180,000 for his personal use from…