Articles Posted in Stockbroker Misconduct

The Financial Industry Regulatory Authority Inc. (“FINRA”) charged a broker for lying to a Native American tribe about $11 million in commissions he accumulated when he sold the tribe $190 million in nontraded real estate investment trusts and business development companies. According to the complaint, Gopi Krishna Vungarala (CRD# 4856193),…

Silver Law Group is investigating allegations made by the Financial Industry Regulatory Authority (“FINRA”) against former Hollywood, Florida broker Daniel G. Kasbar (CRD# 5869994). FINRA barred Kasbar from the securities industry for failing to respond to FINRA’s requests for documents and information. FINRA was investigating Kasbar for allegedly engaging in…

Dallas securities broker Wade Lawrence was given a three-year prison sentence January 20, 2015 by a Texas federal judge after pleading guilty to offering false investments that defrauded his friends and business associates out of more than $1.5 million for his own benefit. The federal court also ordered Lawrence, 43,…

According to FINRA Disciplinary actions for January 2016, the following individuals were barred from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules: NAME FORMER EMPLOYERS   Antonio Ambrosio…

According to FINRA Disciplinary actions for January 2016, the following individuals were suspended from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules: NAME FORMER EMPLOYERS   Raymond Aleksey…

According to FINRA Disciplinary actions for January 2016, the following individuals were suspended from FINRA for failing to comply with a FINRA arbitration award or settlement agreement pursuant to FINRA rules: NAME FORMER EMPLOYERS   William Walter Almond   Morgan Stanley   New England Securities   William Austin Bailey  …

Silver Law Group is investigating customer complaints against Wells Fargo advisor Robert M. Giusti (“Giusti”) located in New York, NY. There are four customer complaints against Giusti and one civil action alleging a number of securities law violations, including unsuitable investments, misrepresentations, negligence, unauthorized use of margin funds, and excessive…

Broker Thomas Hindes, formerly of LPL Financial, was permanently barred by FINRA for failing to respond to a request by FINRA for information during the course of an investigation. Hindes also has a pending complaint while at LPL for allegedly misrepresenting a variable annuity. Hindes was registered at LPL Financial…

Jerry Mofield, a broker formerly with Roanoke, Virginia office of Newbridge Securities was permanently barred by FINRA for failing to respond to a request by FINRA for information. Mofield was registered Newbridge from June 2007 until July 2014. According to his FINRA BrokerCheck report, he had a customer complaint alleging…

Former LPL broker Alfred Talens was permanently barred by FINRA for failing to respond to a request by FINRA for information. Talens was terminated by LPL for violating firm policy regarding participation in outside business activities and borrowing money from clients.  Talens has a pending FINRA arbitration based on a…