Articles Posted in Unsuitable Investment Advice

The SEC has shut down a $102 Million Ponzi Scheme that was defrauding investors in several states. The complaint that was filed in federal district court in Manhattan charges Perry Santillo from Rochester, New York, Christopher Parris from Rochester, New York, Paul LaRocco from Ocala, Florida, John Piccarreto from San…

Centaurus Financial has been the recipient of multiple FINRA actions, including 11 regulatory events and 8 reported arbitration claims. Not all of these are major issues, but they could be relevant to an investor doing business with Centaurus. The SEC has strict rules about how a broker-dealer operates, runs their…

Former Broker Charles Henry Frieda (CRD #5502319) has been barred after FINRA investigated more than 50 client allegations of improper investments. Frieda’s last employer of record was Wells Fargo Clearing Services (aka Wells Fargo Advisors, CRD #19616) of Irvine, CA, where he was employed from 10/05/2012 through 09/20/2017. Although he…

Former broker and investment advisor Charles Bernard Lynch, Jr. (CRD #3004877) has been barred by FINRA after 57 customer disputes have been filed against him. His last employer of record was Wells Fargo Clearing Services (aka Wells Fargo Advisors, CRD #19616), where he was employed from 10/05/2012 through 05/02/2016. He…

Craig Joseph Mardany (CRD#4356113), a currently registered FINRA broker and employed with Merrill, Lynch, Pierce, Fenner & Smith Incorporated (CRD# 7691) of Newport Beach, CA. He has been registered with this firm since 10/23/2009. He was previously registered with Banc of America Investment Services, Incorporated, (CRD# 16361) from 03/12/2001 through…

Jason Eric Zwibel (CRD# 2460258, aka, Jay Bell Zwibel) is a registered broker and investment advisor with Garden State Securities (CRD# 10083) in Wellington, FL. He has been with Garden State since 1/22/2010. He has worked as a broker since 1994, and previously worked for: GunnAllen Financial, Inc. (CRD# 17609),…

Silver Law Group is currently looking into customer allegations against Logan Burch Phillips, Jr. (CRD #1248589.) Phillips is a previously registered broker who last worked as a broker for Raymond James & Associates (CRD #705) in Jackson MS, from 2013 to 2016. He was previously employed by Morgan Keegan &…

Peter Gerhard Klaas (CRD# 2381681) is currently registered as a broker and investment advisor, and is employed at El Segundo, CA-based Cetera Advisor Networks since 05/2017. He is registered with Cetera in both Murray, UT and Las Vegas, NV, and licensed in Arizona, Idaho, Nevada and Utah. Klaas was previously…

When Hurricane Maria landed in Puerto Rico, it caused devastation to the island’s infrastructure, crops, homes and power grid that will take many years to repair. But the damages to Puerto Rico include losses in municipal bonds and the mutual funds that hold them, which were close to default even…

Silver Law Group is currently investigating former Royal Alliance Associates, Inc. financial advisor Mark Perry (CRD# 1219294) regarding unsuitable investment recommendations to elderly clients. Perry was registered with Independent Financial Group, LLC in Mt. Pleasant, South Carolina and with Cambridge Investment Research, Inc. in Mt. Pleasant, South Carolina. Previously, Perry…