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Articles Posted in FINRA Arbitration

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GWG Holding’s L-Bonds were touted as a safe investment by brokers and broker-dealers such as Moloney Securities. Unfortunately, that hasn’t been the case, and more than 27,000 investors are left with these worthless bonds. After GWG Holdings filed for bankruptcy in April of 2022, investors are facing the loss of most or all their monies. Silver Law Group may be able to help you recover your investment losses. Silver Law Group represents GWG L Bonds investors in FINRA arbitration claims to recover their investment losses. Contact us at 800-975-4345 for a no-cost, confidential consultation.GWG Holding’s L-Bonds were touted as a safe investment by brokers and broker-dealers such as Moloney Securities. Unfortunately, that hasn’t been the case, and more than 27,000 investors are left with these worthless bonds. After GWG Holdings filed for bankruptcy in April of 2022, investors are facing the loss of most or all their monies. Silver Law Group may be able to help you recover your investment losses. Continue reading ›

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If you were a customer of Centaurus Financial who bought the hype over GWG Holdings’ now-defunct L-Bonds, you’re not alone. More than 27,000 investors believed their broker when they said L-Bonds were a solid investment with good returns. Silver Law Group may be able to help you recover your investment losses. In April of this year, GWG Holdings filed for bankruptcy. It is expected that L Bonds investors will lose a considerable amount of their principal in the process. Silver Law Group represents GWG L Bonds investors in FINRA arbitration claims to recover their investment losses. Contact us at 800-975-4345 for a no-cost, confidential consultation.If you were a customer of Centaurus Financial who bought the hype over GWG Holdings’ now-defunct L-Bonds, you’re not alone. More than 27,000 investors believed their broker when they said L-Bonds were a solid investment with good returns. Silver Law Group may be able to help you recover your investment losses.

In April of this year, GWG Holdings filed for bankruptcy. It is expected that L Bonds investors will lose a considerable amount of their principal in the process. Continue reading ›

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Did you purchase GWG Holdings’ L-Bonds through your broker at Dempsey Lord Smith before they declared bankruptcy in April of 2022? If so, you may realize that recovery of your principal is in jeopardy, and you may not recover anything. Silver Law Group may be able to help you recover your investment losses. Silver Law Group represents GWG L Bonds investors in FINRA arbitration claims to recover their investment losses. Contact us at 800-975-4345 for a no-cost, confidential consultation.Did you purchase GWG Holdings’ L-Bonds through your broker at Dempsey Lord Smith before they declared bankruptcy in April of 2022? If so, you may realize that recovery of your principal is in jeopardy, and you may not recover anything. Silver Law Group may be able to help you recover your investment losses.

Silver Law Group represents GWG L Bonds investors in FINRA arbitration claims to recover their investment losses. Contact us at 800-975-4345 for a no-cost, confidential consultation. Continue reading ›

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Silver Law Group successfully represented the plaintiffs in a FINRA arbitration claim to recover losses from GWG L-Bonds investments. The claim alleged that Boston-based broker-dealer Ages Financial Services did not fully inform the investors of the risks of the L-Bonds. A panel of arbitrators awarded our clients $246,000. In their decision, the FINRA arbitration panel stated that Ages did not inform our clients about the risks of GWG L Bonds or discuss alternatives and “The investments were not discussed in terms of quantitative suitability in relation to [the clients’] overall portfolios.”  The arbitrators noted in the award that the L-Bonds were “inappropriate.”Silver Law Group successfully represented the plaintiffs in a FINRA arbitration claim to recover losses from GWG L-Bonds investments. The claim alleged that Boston-based broker-dealer Ages Financial Services did not fully inform the investors of the risks of the L-Bonds. A panel of arbitrators awarded our clients $246,000. Continue reading ›

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Silver Law Group is investigating investor claims involving Stifel, Nicolaus & Company broker Chuck Roberts, who is currently the subject of sixteen investor complaints relating to mishandling of investors’ portfolios. Roberts, a Stifel, Nicolaus & Company broker since 2016, catered primarily to clients in Miami, Florida and New York, New York.Silver Law Group is investigating investor claims involving Stifel, Nicolaus & Company broker Chuck Roberts, who is currently the subject of sixteen investor complaints relating to mishandling of investors’ portfolios. Roberts, a Stifel, Nicolaus & Company broker since 2016, catered primarily to clients in Miami, Florida and New York, New York. Continue reading ›

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According to FINRA Disciplinary actions for June 2024, 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
  Gerald Cocuzzo   Newbridge Securities Corporation
  IAA Financial LLC
  Kevin Hobbs   PFS Investments Inc.
  James Myers   NYLife Securities LLC
  Kenneth Schaefer   Ameriprise Financial Services, LLC
  Merrill Lynch, Pierce, Fenner & Smith Incorporated

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Michael Archimede (CRD# 5701306) is a former registered broker and investment advisor previously employed with PFS Investments Inc. (CRD# 10111) of Waukesha, WI  He has been in the industry since 2010. On 11/9/2023, a customer filed a dispute alleging that Archimede borrowed money and failed to repay the loan, requesting damages of $52,482.12. This claim is currently listed as “pending.” On 12/31/2023, PFS Investments terminated Archimede’s employment for failing to renew his securities licenses. However, during an internal review, Archimede admitted that he had borrowed money from a customer. On January 10, 2024, PFS updated the Form U5 filing to show that he was permitted to resign while under review for allegedly initiating a customer loan. FINRA initiated a review based on the Form U5 issued by PFS Investments following his separation from their employment.Michael Archimede (CRD# 5701306) is a former registered broker and investment advisor previously employed with PFS Investments Inc. (CRD# 10111) of Waukesha, WI  He has been in the industry since 2010.

On 11/9/2023, a customer filed a dispute alleging that Archimede borrowed money and failed to repay the loan, requesting damages of $52,482.12. This claim is currently listed as “pending.” Continue reading ›

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Silver Law Group’s founder, attorney Scott Silver, recently spoke with Investment News about two brokers who filed for bankruptcy after a FINRA arbitration awarded money to one of their former clients. "Another schlocky broker-dealer gets hit with an arbitration award and the owner and everyone else declare bankruptcy," Mr. Silver told Investment News. Mr. Silver is also representing another client whose account was churned by the same firm. The firm in question is E1 Asset Management (CRD# 46872) of Jersey City, NJ. In the arbitration, the client requested $4 million in damages. Three FINRA arbitrators awarded the client compensatory damages of $1.6 million, interest of $578,000, and legal fees of $420,000, for a total of $2,598,000.Silver Law Group’s founder, attorney Scott Silver, recently spoke with Investment News about two brokers who filed for bankruptcy after a FINRA arbitration awarded money to one of their former clients.

“Another schlocky broker-dealer gets hit with an arbitration award and the owner and everyone else declare bankruptcy,” Mr. Silver told Investment News. Mr. Silver is also representing another client whose account was churned by the same firm. Continue reading ›

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