Articles Posted in FINRA Arbitration

Christopher R. (“Cubby”) Bice is a registered broker and investment advisor currently employed with Sagepoint Financial, Inc. (CRD#: 133763) of Greensboro, NC. His previous employers include A. G. Edwards & Sons, Inc. (CRD#:4) of St. Louis, MO and UBS Painewebber Inc. (CRD#:8174) of Weehawken, NJ.  He has been in the industry since 1999.

Bice is the subject of three customer disputes, with two listed as “pending.”  The first dispute was filed on 2/9/2018, and the second on 11/12/2018, and have identical allegations of “unsuitable investment recommendations, investment overconcentration, misrepresentation, and failure to supervise.”  The total requested damages for these two disputes is $1,750,000. Continue reading ›

Leonard Charles Kinsman (CRD: #2816535) is a former registered broker and investment advisor whose last employer was Wells Fargo Advisors Financial Network, LLC (CRD#:11025) of Staten Island, NY, until 7/4/2019.

Previous employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691), also of Staten Island, NY, Wells Fargo Advisors, LLC (CRD#:19616) of Red Bank, NJ and Citigroup Global Markets Inc. (CRD#:7059), of Staten Island, NY. Two of Kinsman’s previous employers have been expelled by FINRA. Continue reading ›

Maria Hendershott (CRD:# 818681) is a registered broker and investment advisor currently employed with Raymond James & Associates, Inc. (CRD#: 705) of Houston, TX. Her previous employers include Legg Mason Wood Walker, Incorporated (CRD#:6555) of Baltimore, MD, First Union Securities, Inc. (CRD#:19616) of St. Louis, MO, and Lovett Underwood Neuhaus & Webb, Inc. (CRD#:22540). She has been in the industry since 1976.

Hendershott is the subject of a current customer dispute filed on 8/5/19 in which a client alleges that she violated FINRA Rule 2210, as well as engaged in unsuitable investments, overconcentration, negligence, and misrepresentations and omissions. The client has requested damages of $175,000, and the claim is currently pending. Continue reading ›

Gregory Alan Ricker (CRD: 1834893) is a former registered broker and investment advisor whose last employer of record was Westpark Capital, Inc. (CRD#:39914) of Boca Raton, FL, which ended on 4/30/2019. According to Ricker’s CRD report, there is no information available on his termination from Westpark. His previous employers include National Securities Corporation (CRD#:7569), also of Boca Raton, Fl, Jesup & Lamont Securities CORP (CRD#:39056, expelled by FINRA on 11/04/2010), and Wachovia Securities, LLC (CRD#:19616), both of Fort Lauderdale, FL. He began in the industry in 1993.

FINRA sent Ricker a request for information and he failed to respond. He was suspended on 9/13/2019, and the suspension was lifted on 12/9/2019. No broker statement is available, and there is no additional information on the contents of the request for information, or if any companies or clients were involved. Continue reading ›

David Harrison Miller (CRD: 4648882) is a currently registered broker and investment advisor employed by Peachcap Securities (CRD: 25590) in Atlanta, GA.  His previous employers include Investacorp, Inc. (CRD#:7684) and Ameriprise Financial Services, INC. (CRD#:6363), both of Atlanta, GA, and IDS Life Insurance Company (CRD#:6321) of Minneapolis, MN.  He has been in the industry since 2003.

Miller is the subject of a total of seven customer disputes, all filed in a one-year period, with the same basic complaint: the client was unhappy with the performance of their accounts, with one allegation of mismanagement. Some of these claims stem from actions taken by an affiliated brokerage firm. Continue reading ›

Shimson Plotkin (CRD: 2431863) is a currently registered broker and investment advisor who is currently employed with Independent Financial Group, LLC (CRD#: 7717) of Chevy Chase, MD.  His previous employers include Pacific West Securities, Inc. (CRD#:6390) and Cambridge Investment Research, Inc. (CRD#:39543), both of Chevy Chase, MD, and Royal Alliance Associates, Inc. (CRD#:23131) of Jersey City, NJ. He has been in the industry since 1994.

Plotkin is the subject of eight customer disputes. The most recent, filed on 6/21/2019, alleges “over-concentration in alternative investments and lack of diversification,” and seeks damages of $500,000. This dispute is currently pending, and the firm denies the allegation. Continue reading ›

Trevor Bradner Rahn (CRD: #2196155) is a former registered broker and investment advisor whose last employer was J.P. Morgan Securities LLC (CRD#:79) of Los Angeles, CA. His previous employers include Deutsche Bank Securities Inc. (CRD#:2525), also of Los Angeles, Morgan Stanley & Co., Incorporated (CRD#:8209) and Morgan Stanley DW INC. (CRD#:7556), both of Beverly Hills, CA. No current employment information is available. He has been in the industry since 1992.

One of Rahn’s clients filed a customer dispute on 6/12/2019 alleging that Rahn engaged in excessive, unauthorized trading and margin use in the customer’s account to generate commissions at the customer’s loss from 1/2014 through 11/2015. The customer also incurred significant tax obligations as a result. Requested damages totaled $854,410, and the claim was settled for $549,184.00. Continue reading ›

Antoine Nabih Souma (CRD: 4210987) is a registered broker and investment advisor currently employed with Morgan Stanley (CRD#:149777) of Los Angeles, CA. His previous employers include J.P. Morgan Securities LLC (CRD#:79) and Deutsche Bank Securities Inc. (CRD#:2525), also of Los Angeles, and UBS Financial Services Inc. (CRD#:8174), of Beverly Hills, CA.

A customer filed a dispute on 12/27/2016, alleging that between 2013 and 2015, Souma’s negligence included, “exercise of discretion, excessive and unsuitable trading, falsified performance reports, failure to extend a promised credit line, breach of fiduciary duty, misrepresentation and omission of material facts, breach of contract, constructive fraud, failure to supervise, violation of state and federal securities laws and FINRA rules, and promissory estoppel.”  The claim was settled for $14,000,000 by the firm. Souma denies the allegations by the claimant, and did not contribute to the settlement amount. Continue reading ›

Debra Rae Lambert (CRD: 2238553) is a previously registered broker and investment advisor whose last employer was Raymond James & Associates, Inc. (CRD#:705) of The Villages, FL. Previous employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691), A. G. Edwards & Sons, Inc. (CRD#:4, both of Smithtown, NY, and Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of New York, NY. No current employment information is available. She has been in the industry since 1992.

Lambert is the subject of three customer disputes, the most recent of which is currently pending. Filed on 9/13/18, it alleges “excessive trading, unsuitable investment recommendations and misrepresentation from 2007 until May 2014.”  No dollar amount of requested damages is available, and there are no updates. Continue reading ›

Andrew Stanley Krakauer (CRD: 1613159) is a registered broker and investment advisor employed by AXA Advisors, LLC (CRD#: 6627) of Woodbury, NY. His previous employer was The Equitable Life Assurance Society Of The United States (CRD#:4039) of New York, NY. He has been in the industry since 1987.

A customer dispute filed on 10/3/19 alleges that Krakauer sold two clients “alternative investments” in 2015, but failed to disclose the associated risks. The clients are requesting damages of $390,000. The claim is currently listed as pending. Continue reading ›