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Articles Posted in Stockbroker Misconduct

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David Khezri (CRD# 2736831) is a previously registered broker whose last employer was Network 1 Financial Securities Inc. (CRD#:13577) of Hauppauge, NY. His previous employers include Worden Capital Management LLC (CRD#:148366) of Melville, NY, Joseph Stone Capital L.L.C. (CRD#:159744) and Cape Securities Inc. (CRD#:7072), both of Holbrook NY. Currently, Khezri is neither registered nor associated with any FINRA member firm. Five of Khezri’s former employers have been expelled by FINRA: EKN Financial Services Inc. (CRD#:113525), Melville, NY, expelled on 10/12/2012 com Corp (CRD#:18281), Farmingville, NY, expelled on 8/19/2010 Seaboard Securities, Inc. (CRD#:755) of Florham Park, NJ, expelled on 2/11/2011 J. Meyers & Co., Inc. (CRD#:15609) of Rochester, NY, expelled on 03/01/1999 Investors Associates, Inc. (CRD#:958) of Hackensack, NJ, expelled on 05/14/1998 He has been in the industry since 1996. David Khezri has a customer dispute disclosure in his CRD dated 3/15/2021, alleging unsuitable excessive trading and churning, as well as common law fraud, breach of contract, and other misconduct. The client has requested damages of $187,000. This claim is currently pending.David Khezri (CRD# 2736831) is a previously registered broker whose last employer was Network 1 Financial Securities Inc. (CRD#:13577) of Hauppauge, NY. His previous employers include Worden Capital Management LLC (CRD#:148366) of Melville, NY, Joseph Stone Capital L.L.C. (CRD#:159744) and Cape Securities Inc. (CRD#:7072), both of Holbrook NY. Currently, Khezri is neither registered nor associated with any FINRA member firm. Continue reading ›

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Anthony Graziano (Anthony Joseph Graziano CRD# 2862096) is a broker currently registered with Joseph Stone Capital L.L.C. (CRD# 159744) of New York, NY. His previous employers include National Securities Corporation (CRD#:7569) of Westbury, NY, Brookstone Securities, Inc. (CRD#:13366, expelled by FINRA 10/9/2012) of Garden City, NY, and Salomon Whitney LLC (CRD#:145012) of Babylon Village, NY.  He has been in the industry since 1997.Anthony Graziano (Anthony Joseph Graziano CRD# 2862096) is a broker currently registered with Joseph Stone Capital L.L.C. (CRD# 159744) of New York, NY. His previous employers include National Securities Corporation (CRD#:7569) of Westbury, NY, Brookstone Securities, Inc. (CRD#:13366, expelled by FINRA 10/9/2012) of Garden City, NY, and Salomon Whitney LLC (CRD#:145012) of Babylon Village, NY. He has been in the industry since 1997. Continue reading ›

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Narith Long (CRD# 6598152) is a previously registered broker whose last known employer was NY Life Securities LLC (CRD#:5167) of Glendale, CA. He was previously employed with Northwestern Mutual Investment Services, LLC (CRD#:2881) of Long Beach, CA, where he began his career in the industry in 2018. New York Life Securities terminated Long’s employment on December 1st, 2020. The company terminated him for engaging in unauthorized securities transactions. This activity included recommending to his customers that they open brokerage accounts with a separate, non-affiliated firm. Once the clients opened these brokerage accounts, Long went in using their login information and traded securities that were held in these non-firm accounts. FINRA requested information from Long, which he failed to provide. Therefore, FINRA issued notices of Suspension and Suspension from Association letters on September 1st, 2021, and September 27, 2021. Long then failed to request termination of his suspension within three months of the. Notice of Suspension. As of December 6th, 2021, Narith Long is now permanently barred from any association with FINRA members in all capacities.Narith Long (CRD# 6598152) is a previously registered broker whose last known employer was NY Life Securities LLC (CRD#:5167) of Glendale, CA. He was previously employed with Northwestern Mutual Investment Services, LLC (CRD#:2881) of Long Beach, CA, where he began his career in the industry in 2018. Continue reading ›

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Todd Kling (Todd Franklin Kling CRD# 3034284) is a currently registered broker and investment advisor employed with Joseph Stone Capital L.L.C. (CRD#: 159744) in New York, NY. His previous employers include Royal Alliance Associates, Inc. (CRD#:23131), First Midwest Securities, Inc. (CRD#:21786), and FMSI Advisers (CRD#:21786), also of New York, NY. His first employer, First Republic Group, LLC (CRD#: 39781), was expelled by FINRA on 9/23/2009. He has been in the industry since 1999. According to a FINRA disciplinary action dated 12/17/2021, Kling was found to have excessively and unsuitably traded one customer's account. This particular client was not only a retired psychiatrist but also a senior investor. Between March 2018 and November 2019, Kling recommended that the client place a total of 115 trades in his account. The client accepted Kling’s recommendations and made the trades. The customer’s account had an average month end equity of $5,414,465, resulting in an annualized turnover rate of more than 12. The trades recommended by Kling caused this customer to pay commissions, trading costs and margin interests that totaled $153,879.00. This trading resulted in an annualized cost to equity ratio of more than 35%. For the client to break even, the customer’s account would have had to grow by more than 35% annually just to reach the “break-even point.”Todd Kling (Todd Franklin Kling CRD# 3034284) is a currently registered broker and investment advisor employed with Joseph Stone Capital L.L.C. (CRD#: 159744) in New York, NY. His previous employers include Royal Alliance Associates, Inc. (CRD#:23131), First Midwest Securities, Inc. (CRD#:21786), and FMSI Advisers (CRD#:21786), also of New York, NY. His first employer, First Republic Group, LLC (CRD#: 39781), was expelled by FINRA on 9/23/2009. He has been in the industry since 1999. Continue reading ›

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Joseph Fedorko (Joseph Michael Fedorko CRD#] 2007317) is a previously registered broker whose last known employer was Laidlaw & Company (UK) LTD. (CRD#:119037) of Greenwich, CT. His previous employers include Oppenheimer & Co. Inc. (CRD#:249) of Stamford, CT, Josephthal & Co., Inc. (CRD#:3227) and Gruntal & Co., L.L.C. (CRD#:372), both of New York, NY. He has been in the industry since 1989. Fedorko has a total of 19 disclosures dating back to 1995. However, the most recent disclosure is from FINRA, after he excessively traded in the account a married senior couple from January 1, 2014, to December 31, 2019. He exercised de facto control over the couple’s account, and the couple trusted his recommendations. During this period, Fedorko and his firm (Laidlaw) exercised more than 1,200 transactions in the customers’ account. This excess trading led to losses of approximately $1.1 million, known as “churning.” However, the trading also generated $760,000 in commissions and markups for the firm, with Fedorko receiving 25% of the commissions and markups. After the customers filed a claim, the firm reimbursed them for their losses and closed their arbitration.Joseph Fedorko (Joseph Michael Fedorko CRD#] 2007317) is a previously registered broker whose last known employer was Laidlaw & Company (UK) LTD. (CRD#:119037) of Greenwich, CT. His previous employers include Oppenheimer & Co. Inc. (CRD#:249) of Stamford, CT, Josephthal & Co., Inc. (CRD#:3227) and Gruntal & Co., L.L.C. (CRD#:372), both of New York, NY. He has been in the industry since 1989. Continue reading ›

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Mario Rivero Jr. (Mario Everildo Rivero Jr., CRD# 5856503), 38, is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Red Bank, NJ. His only prior industry employment was with Wells-Fargo Clearing Services, LLC (CRD#:19616) of Elizabeth, NJ.  He has been in the industry since 2010. After a FINRA investigation and two sets of charges, he has been arrested in two separate cases. The FINRA Investigation And Ban Rivero has only one disclosure in his FINRA record that involves a similar investigation, leading to his indefinite and permanent bar from the securities industry. Rivero was a broker and investment advisor at Wells Fargo for a total of nine years, then resigned to join LPL Financial. Wells Fargo originally filed a Form U5 termination form stating that Rivero had voluntarily resigned. However, Wells Fargo amended the Form U5 on April 22nd, 2021. After his move to LPL, Wells Fargo received complaints from two of Rivera's customers, indicating that he may have misappropriated some of their funds. Rivero remained registered with LPL until 06/04/2021. FINRA then began an investigation, which included requesting documents and information from Rivero regarding this matter. FINRA made the request on May 3rd, 2021. In a phone call on May 18th, 2021, with FINRA staff, Rivero's legal counsel acknowledged the receipt of FINRA’s requests, but declined to produce any information or documentation requested at any time. By doing so, Rivero violated several of FINRA’s rules, leading to sanctioning. This sanction included a permanent bar from associating with any FINRA member in all capacities. Rivero signed a letter of Acceptance Waiver And Consent (AWC), and the bar became final on June 4th, 2021.Mario Rivero Jr. (Mario Everildo Rivero Jr., CRD# 5856503), 38, is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Red Bank, NJ. His only prior industry employment was with Wells-Fargo Clearing Services, LLC (CRD#:19616) of Elizabeth, NJ.  He has been in the industry since 2010.

After a FINRA investigation and two sets of charges, he has been arrested in two separate cases. Continue reading ›

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Marc Korsch (Marc Frederick Korsch, CRD#5525226) is a currently registered broker and investment advisor employed with Arkadios Capital (CRD#: 282710) of Sarasota, FL. His previous employers include Centaurus Financial, Inc. (CRD#:30833) and Trustmont Financial Group, Inc. (CRD#:18312) both of Sarasota, and Capital Financial Services, Inc. (CRD#:8408), of Port Charlotte, FL. He has been in the industry since 2009. A client filed a dispute on 10/29/2020 alleging that from July 2014 to the current date, Marc Korsch breached his fiduciary duty by investing their funds into high-risk investments that were unsuitable for their portfolio. The client requests damages of $100,000. Korsch denies the allegations and will defend the matter. The dispute is currently listed as “pending.”

Marc Korsch (Marc Frederick Korsch, CRD# 5525226) is a currently registered broker and investment advisor whose last known employer was Arkadios Capital (CRD#: 282710) of Sarasota, FL. His previous employers include Centaurus Financial, Inc. (CRD#:30833) and Trustmont Financial Group, Inc. (CRD#:18312) both of Sarasota, and Capital Financial Services, Inc. (CRD#:8408), of Port Charlotte, FL. He has been in the industry since 2009. Continue reading ›

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Alan Feigenbaum (Alan Scot Feigenbaum, CRD# 3132230) is a previously registered broker and investment advisor whose last known employer was Newbridge Securities Corporation (CRD#:104065) of Boynton Beach, FL. His previous employers were National Securities Corporation (CRD#:7569) and Prime Capital Services, Inc. (CRD#:18334), also of Boynton Beach. He has been in the industry since 1999. While employed at National Securities, the firm allowed Feigenbaum to resign on his own. Allegations surfaced that he misused the firm's trading platform to execute trades and client accounts without their written permission nor the firm’s. The reason given on his Form U5 termination form was, “Improper use of the Firm's trading platform to execute trades in client accounts.” Feigenbaum was then employed with Newbridge Securities Corporation. He continued to enter orders on a discretionary basis for 2,000 trades in 120 customer accounts. Some of these customers were senior citizens. The customers had permitted Feigenbaum to exercise discretion, but none had given him written authorization. Neither National nor Newbridge approved these accounts as discretionary. However, there were no complaints from the customers. Feigenbaum continued to exercise discretion without authorization even after receiving a written letter of caution from his supervisor at National for similar activity in September of 2015.Alan Feigenbaum (Alan Scot Feigenbaum, CRD# 3132230) is a previously registered broker and investment advisor whose last known employer was Newbridge Securities Corporation (CRD#:104065) of Boynton Beach, FL. His previous employers were National Securities Corporation (CRD#:7569) and Prime Capital Services, Inc. (CRD#:18334), also of Boynton Beach. He has been in the industry since 1999. Continue reading ›

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What would you do if your broker decided to move to a new firm? Would you follow them? What if you’re a broker who wants to change firms for good cause? Silver Law Group represents investors and individual financial advisors in claims against brokerage firms for misconduct relating to failure to properly disclose the reasons for a brokers termination, claims of harassment or misconduct by the brokerage against the financial advisor and investors who have been harmed when brokerage firms fail to advise the client that a broker has been terminated for cause or damage to investor’s portfolio.What would you do if your broker decided to move to a new firm? Would you follow them?

What if you’re a broker who wants to change firms for good cause?

Silver Law Group represents investors and individual financial advisors in claims against brokerage firms for misconduct relating to failure to properly disclose the reasons for a brokers termination, claims of harassment or misconduct by the brokerage against the financial advisor and investors who have been harmed when brokerage firms fail to advise the client that a broker has been terminated for cause or damage to investor’s portfolio. Continue reading ›

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Dana Vietor (Dana Bruce Vietor CRD# 873129) is a previously registered broker whose last known employer was CFD Investments, Inc. (CRD#:25427) of Dallas, TX. His previous employers include Oakbridge Financial Services (CRD#:16323, expelled by FINRA in 2016) of Nisswa, MN, Cape Securities Inc. (CRD#:7072) of Irving, TX, and Allied Beacon Partners, Inc. (CRD#:46227, expelled by FINRA in 2013) of Independence, Iowa.  He has been in the industry since 1981. FINRA began an investigation into Vietor’s records, discovering that he engaged in the sale of promissory notes that were called “deposit agreements.” According to the allegations, these agreements totaled over $3 million. However, Vietor failed to disclose this information to the investors. He also did not receive written approval from his member firm for these private security transactions. According to FINRA’s investigation findings, Vietor, along with his other business partners, engaged in a startup business venture in need of funding. These deposit agreements raised the needed capital for these entities associated with the startup. Because Vietor is part of the management team for these entities, and he has membership interests in each one, Vietor also received indirect selling compensation while involved in these private transactions.Dana Vietor (Dana Bruce Vietor CRD# 873129) is a previously registered broker whose last known employer was CFD Investments, Inc. (CRD#:25427) of Dallas, TX. His previous employers include Oakbridge Financial Services (CRD#:16323, expelled by FINRA in 2016) of Nisswa, MN, Cape Securities Inc. (CRD#:7072) of Irving, TX, and Allied Beacon Partners, Inc. (CRD#:46227, expelled by FINRA in 2013) of Independence, Iowa.  He has been in the industry since 1981. Continue reading ›

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