Securities Arbitration Lawyers Blog

Mormon seniors reportedly victimized in San Diego investment scam, Ohio broker admits guilt in theft of more than 500k from senior client, and Oklahoma begins educational initiative Throughout the U.S., seniors are experiencing perhaps a higher prevalence of fraud than ever before– and scammers are getting increasingly inventive in the…

New rules are intended to assist financial institutions in reducing the amount of investment fraud targeting seniors and other vulnerable investors. Senior investment fraud. Elder fraud. Elder financial abuse. Scamming older investors. No matter what it is termed, this unfortunate activity takes place at a far greater rate – with…

Advisors and other trusted professionals have an ethical duty to stop senior financial fraud Elder financial fraud is an increasingly serious issue in the U.S. As more Americans become seniors – at the rate of about 10,000 a day – new victims across the country are feeling the consequences. This…

Research suggests nearly 40% of American seniors may experience financial abuse Across the U.S., millions of seniors each year become the victims of fraudulent financial and investment scams. In fact, one recent survey reported that 37% of senior caregivers said their client had been a victim of financial fraud or…

FINRA has barred Fort Lauderdale, Florida-based broker Douglas W. Studer (CRD# 4440047) for refusing to testify on the record in a FINRA-led investigation into whether Studer violated his employing firm’s policy by being named in an elderly customer’s estate documents to inherit the customer’s waterfront condominium. Studer was employed by…

Silver Law Group is investigating former Deerfield, Illinois-based Morgan Stanley Smith Barney broker Brian C. Sak (CRD# 3259830) after he was terminated for allegations that he placed customers in unapproved investments. According to Sak’s FINRA BrokerCheck Report, he was terminated on May 17, 2016 by Morgan Stanley (CRD# 149777) due…

Silver Law Group is investigation former Tennessee-based Woodbury Financial Services, Inc. broker David A. Ross (CRD# 3021782) for allegedly failing to disclose an outside business activity and accepting loans from firm clients. According to Ross’s FINRA BrokerCheck report, Woodbury Financial Services (CRD# 421) discharged Ross in April 2016 for the…

Silver Law Group is investigation former Florida-based Fidelity Brokerage Services LLC (CRD# 7784) broker Michael J. DeBoer (CRD# 2114067) for allegedly conducting outside business activities without notifying Fidelity and losing his customers a great deal of money in the process. According to DeBoer’s FINRA BrokerCheck, FINRA permanently barred DeBoer in…

Silver Law Group is investigating former Ohio-based Concorde Investment Services, LLC (CRD# 151604) broker Larry S. Werbel (CRD# 828351) for three pending FINRA arbitrations and a litany of disclosures on his FINRA BrokerCheck report. According to Werbel’s FINRA BrokerCheck report, Werbel has three pending FINRA arbitrations filed in the last…

Silver Law Group is investigating former Connecticut-based Investacorp, Inc. (CRD# 7684) broker Warren M. Rockmacher (CRD# 2005652) after FINRA suspended and then permanently barred the broker. Rockmacher currently has a FINRA arbitration pending that alleges unsuitable recommendations and misrepresentation with damages in the amount of $75,000. On May 12, 2016,…