Securities Arbitration Lawyers Blog

Allegations of unauthorized trading and client abandonment tarnish 34-year career. In June 2015, investment firm D.A. Davidson & Company formally discharged broker Richard G. Drown, Jr. after the broker allegedly “disappeared,” abandoning both his duties and his clients. According to Drown’s FINRA BrokerCheck report, the firm filed an Employment Separation…

Silver Law Group is investigating claims related to Paul Vincent Blum (CRD # 735003), a West Palm Beach, Florida, broker who was registered with RBC Capital Markets, LLC, from October 2008 until his termination in October 2015. RBC terminated Blum’s registration with the firm, putting his reason for discharge as…

After 7 complaints and millions in settlements, Doyle is suspended by FINRA According to a FINRA BrokerCheck report, Michael Doyle has received complaints from seven clients and was suspended for failing to comply with an arbitration award and to respond to the FINRA’s request to provide information concerning the status…

Connecticut broker agrees to one-month suspension and $7500 fine. Leon Vaccarelli, a stockbroker registered with the Investment Center, was recently suspended from participating in the securities industry for one month and paid a $7500 fine to regulatory agency FINRA. According to the report, registered representatives are prohibited from exercising discretion…

Other allegations include unsuitable investments and unauthorized trading. In the securities industry for 28 years, New York broker David J. Sullivan is the subject of yet another customer complaint against his behavior as a securities broker. This most recent complaint alleges that on or about September 2011 through approximately December…

Broker William Slone’s most recent complaint alleges unauthorized securities trading. Acting as a securities investment broker since 1969, William Slone faces yet another customer complaint regarding his activities. In November 2015, Slone consented to the sanctions and the entry of the findings that he effected discretionary transactions in the account…

As of August 18, 2015, Veale has been suspended by FINRA With numerous complaints filed against him, several judgments, a felony charge and various other allegations after a lengthy career in the industry, Christopher Veale remains in hot water with FINRA. The trouble for Veale began as early as August…

This New York broker is permanently barred from the securities industry. In November 2015, New York broker Joshua Gladtke consented to the sanction and entry of findings in a FINRA investigation. As a result, Gladtke is now permanently barred from the securities industry. With 13 years in the securities industry,…

Florida stockbroker suspended from securities activity for 6 months due to misconduct Walter P. Priebe, from Pompano Beach, FL, is accused of engaging in outside business activities without telling his registered firm, Investacorp. Priebe worked for Investacorp between March 1989 and July 2014, when his position in that company was…

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),…