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Articles Posted in Stockbroker Misconduct

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Kevin Schaefer (Kevin Joseph Schaefer CRD:# 1286030) is a registered broker and investment advisor currently employed with Wells Fargo Clearing Services, LLC (CRD#: 19616) of San Francisco, CA. His previous employers include Morgan Stanley Smith Barney LLC (CRD#:149777) and UBS Financial Services Inc. (CRD#:8174), both of San Francisco, and Smith Barney Shearson Inc. (CRD#:7059) of New York, NY. He has been in the industry since 1984. Schaefer is the subject of two currently pending disputes. The first, filed on 6/12/2020, alleges “unsuitable investment recommendations and misrepresentations.” The client requests damages of $1,000,000. The second, filed on 6/4/2020, alleges “unsuitable investment recommendations, failure to follow instructions and misrepresentations from 2012 until 2020.”  The client requests damages of $300,000.Kevin Schaefer (Kevin Joseph Schaefer CRD:# 1286030) is a registered broker and investment advisor currently employed with Wells Fargo Clearing Services, LLC (CRD#: 19616) of San Francisco, CA. His previous employers include Morgan Stanley Smith Barney LLC (CRD#:149777) and UBS Financial Services Inc. (CRD#:8174), both of San Francisco, and Smith Barney Shearson Inc. (CRD#:7059) of New York, NY. He has been in the industry since 1984. Continue reading ›

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William Athes (William Nicholas Athes CRD#: 3165470) is a currently registered broker employed by SW Financial (CRD#: 145012 of Melville, NY.) His previous employers include Worden Capital Management LLC (CRD#:148366), also of Melville, K.C. Ward Financial (CRD#:145135) of Ronkonkoma, NY, and Securities America, Inc. (CRD#:10205) of Port Jefferson, NY. He has been in the industry since 1999. A client filed a dispute on 5/4/2020 alleged that from 5/2/2019 to 4/23/2020, Athes engaged in unsuitable trading, breach of contract and fiduciary duty, and churning. This claim is pending, and the client requests damages of $84,932.35. Following this dispute, FINRA began an investigation and issued a preliminary determination on 9/14/2020 to recommend disciplinary action against Athes after allegations of churning, unsuitable recommendations, and other similar allegations.William Athes (William Nicholas Athes CRD#: 3165470) is a currently registered broker employed by SW Financial (CRD#: 145012 of Melville, NY.) His previous employers include Worden Capital Management LLC (CRD#:148366), also of Melville, K.C. Ward Financial (CRD#:145135) of Ronkonkoma, NY, and Securities America, Inc. (CRD#:10205) of Port Jefferson, NY. He has been in the industry since 1999. Continue reading ›

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Linda Howard (Linda Karen Howard CRD#: 1922648) is a registered broker and investment advisor currently employed with Edward Jones (CRD#:250) of San Antonio, TX. Her previous employers include BA Investment Services, Inc. (CRD#:12965) of Oakland, CA and Invest Financial Corporation (CRD#:12984) of Appleton, WI. She has been in the industry since 1990. A customer dispute filed on 9/20/2020 by an attorney for a client’s estate alleges that from March 2018 through December 2019, Howard worked with a former power of attorney agent to open accounts in the client’s name. The allegations also include the designation of beneficiaries other than the client’s estate, and working to deplete the estate’s assets. There is no response from Howard or the firm. A previous customer dispute filed on 3/27/2017 allege that Howard forged the client’s signature for an unauthorized purchase, and requested damages of $7,000. The claim was denied following the firm’s investigation.Linda Howard (Linda Karen Howard CRD#: 1922648) is a registered broker and investment advisor currently employed with Edward Jones (CRD#:250) of San Antonio, TX. Her previous employers include BA Investment Services, Inc. (CRD#:12965) of Oakland, CA and Invest Financial Corporation (CRD#:12984) of Appleton, WI. She has been in the industry since 1990. Continue reading ›

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Gregory Williams (Gregory Jon Williams CRD#: 1561089) is a previously registered broker and investment advisor whose last known employer was Forta Financial Group, Inc. (CRD#:28784) of Greenwood Village, CO. His previous employers include Morgan Stanley Smith Barney (CRD#:149777) and Citigroup Global Markets Inc. (CRD#:7059) of Denver, CO, and Banc One Securities Corporation (CRD#:16999) of Chicago, IL. He has been in the industry since 1986. Williams is currently the subject of four pending customer disputes with nearly identical allegations of unsuitability, misrepresentation, and negligence. The claims were filed between 3/31/2020 and 10/26/2020. The collective requested damages total $1,349,000. In two of the four claims, the firm denies the claims and will defend themselves. A previous customer dispute filed on 3/29/2020 involving multiple claimants also included allegations of unsuitability, negligence, fraud, and misrepresentation. This case went into FINRA arbitration. Although the six claimants requested damages of $578,821.00, ultimately, only two of the claimants were awarded anything, damages totaling $45,818.00. The other four claimants were denied damages.

Gregory Williams (Gregory Jon Williams, CRD# 1561089) is a previously registered broker and investment advisor whose last known employer was Forta Financial Group, Inc. (CRD#:28784) of Greenwood Village, CO. His previous employers include Morgan Stanley Smith Barney (CRD#:149777) and Citigroup Global Markets Inc. (CRD#:7059) of Denver, CO, and Banc One Securities Corporation (CRD#:16999) of Chicago, IL. He has been in the industry since 1986. Continue reading ›

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David Bibo (David Omori Bibo CRD#: 2602436) is a registered broker currently employed with WESTERN INTERNATIONAL SECURITIES, INC. (CRD#: 39262) of San Jose, CA. He was previously employed with Myclearing.Com (CRD#:104161) and Interfirst Capital Corporation (CRD#:7659), both of Los Angeles, and Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of New York, NY. He has been in the industry since 1995. Bibo is the subject of two currently pending customer disputes regarding unsuitable recommendations. The first, filed on 12/18/2019, requests damages in the amount of $1,500,000. The second, filed on 9/22/2020, requests $300,000 in damages. Two previous filed on 5/15/2019 with concerns over “reasonableness of investment” requested $50,000 each. These claims were both denied.David Bibo (David Omori Bibo CRD#: 2602436) is a registered broker currently employed with WESTERN INTERNATIONAL SECURITIES, INC. (CRD#: 39262) of San Jose, CA. He was previously employed with Myclearing.Com (CRD#:104161) and Interfirst Capital Corporation (CRD#:7659), both of Los Angeles, and Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of New York, NY. He has been in the industry since 1995. Continue reading ›

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Wayne Miller (Wayne Ivan Miller CRD#: 4813645) is a registered broker and previously registered investment advisor currently employed with Aeon Capital Inc. (CRD#: 164004) of Scottsdale, AZ. His previous employers include American Asset Advisory, LLC (CRD#:168444), Accelerated Capital Group (CRD#:41270, expelled by FINRA on 11/26/2019) and Longview Financial Group, Inc. (CRD#:38286), also of Scottsdale. He has been in the industry since 2004. Wayne Miller Disclosures Miller is the subject of eight disclosures, seven of which are related to his tenure at the now-defunct  Accelerated Capital Group. He was named in these disputes due to being named “owner and control person” while at ACG until he left on 2/2/2018. Miller left the firm more than a year before the firm was expelled by FINRA for misleading advertising and failing to establish and maintain a supervisory system. Before its expulsion, the firm was subjected to censures and fines for misconduct. The most recent was filed on 9/25/2020, and alleged “unsuitable placements of alternative investments,” with requested damages of $13,204,427.00. Miller was not the broker of record, and denies the allegations. This claim is pending.Wayne Miller (Wayne Ivan Miller CRD#: 4813645) is a registered broker and previously registered investment advisor currently employed with Aeon Capital Inc. (CRD#: 164004) of Scottsdale, AZ. His previous employers include American Asset Advisory, LLC (CRD#:168444), Accelerated Capital Group (CRD#:41270, expelled by FINRA on 11/26/2019) and Longview Financial Group, Inc. (CRD#:38286), also of Scottsdale. He has been in the industry since 2004. Continue reading ›

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James Couture (James Kenneth Couture CRD#: 4460284) is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Worchester, MA. His previous employers included Lincoln Financial Securities Corporation (CRD#:3870), also of Worchester, MA, New England Securities (CRD#:615) of New York, NY, and Morgan Stanley DW Inc. (CRD#:7556) of Purchase, NY. He has been in the industry since 2001. LPL Financial discharged Couture on 6/17/2020 after discovering that he had: Changed identifying information, account balances and distributions in customer account statements Maintained and comingled customer funds Used an unapproved email addressJames Couture (James Kenneth Couture CRD#: 4460284) is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Worchester, MA. His previous employers included Lincoln Financial Securities Corporation (CRD#:3870), also of Worchester, MA, New England Securities (CRD#:615) of New York, NY, and Morgan Stanley DW Inc. (CRD#:7556) of Purchase, NY. He has been in the industry since 2001. Continue reading ›

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Edward Matthes (Edward Earl Matthes CRD:# 2788055, aka “Ed Matthes”) is a former registered broker and investment advisor whose last known employer was Mutual Of Omaha Investor Services, Inc. (CRD#:611) of Oconomowoc, WI. Previous employers include Thrivent Investment Management Inc. (CRD#:18387), also of Oconomowoc, MML Investors Services, Inc. (CRD#:10409) of Chesterfield, MO, and Thrivent Investment Management Inc. (CRD#:18387) of Minneapolis, MN. He has been in the industry since 1996. Matthes is the subject of 25 disclosures dating back to 2005. The most recent disclosures leading to charges began on 3/12/2019 after he was dismissed from Mutual of Omaha. The firm alleged that he created fictitious account statements for clients and deposited client money into his own bank accounts. The FBI began an investigation three days after Matthes’ termination, on 3/15/2019.Edward Matthes (Edward Earl Matthes CRD:# 2788055, aka “Ed Matthes”) is a former registered broker and investment advisor whose last known employer was Mutual Of Omaha Investor Services, Inc. (CRD#:611) of Oconomowoc, WI. Previous employers include Thrivent Investment Management Inc. (CRD#:18387), also of Oconomowoc, MML Investors Services, Inc. (CRD#:10409) of Chesterfield, MO, and Thrivent Investment Management Inc. (CRD#:18387) of Minneapolis, MN. He has been in the industry since 1996. Continue reading ›

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Timothy Engelmann (CRD#: 4933563 Timothy Aaron Engelmann) is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Albuquerque, NM. His previous employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) and Wells Fargo Advisors, LLC (CRD#:19616), also of Albuquerque, and Wells Fargo Investments, LLC (CRD#:10582) of Tucson, AZ. He has been in the industry since 2005. LPL Financial discharged Engelmann on 11/29/2019 after discovering that he twice violated the firm’s policy regarding borrowing money from clients. The firm filed a Form U5 indicating that he had been terminated regarding the policy.Timothy Engelmann (CRD#: 4933563 Timothy Aaron Engelmann) is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Albuquerque, NM. His previous employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) and Wells Fargo Advisors, LLC (CRD#:19616), also of Albuquerque, and Wells Fargo Investments, LLC (CRD#:10582) of Tucson, AZ. He has been in the industry since 2005. Continue reading ›

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Pratul Agnihotri (CRD#: 4031797, aka “Victor Agnihotri”) is a previously registered broker whose last known employer was SW Financial (CRD#:145012) of Melville, NY. His previous employers included Spartan Capital Securities, LLC (CRD#:146251) of New York, NY, Aegis Capital Corp. (CRD#:15007) of Melville, NY, and Gunnallen Financial, Inc (CRD#:17609) of New York, NY. Four of Agnihotri’s previous employers have been expelled by FINRA.  He has been in the industry since 1999. While affiliated with Aegis, and then Spartan, Agnihotri engaged in an outside business activity (OBA) by forming a company called Exergizer, a company selling a piece of exercise equipment. He also became the company’s CEO. Agnihotri failed to notify both of his employers about this non-firm activity as required by FINRA’s Rule 3270. Aegis’ policy requires the firm to be notified of all non-firm activity in writing. During his tenure from February 2015 through October 2017, Agnihotri failed to notify Aegis of his involvement with Exergizer. He also answered “no” to the question of OBAs on his compliance questionnaires in 2015 and 2015.Pratul Agnihotri (CRD#: 4031797, aka “Victor Agnihotri”) is a previously registered broker whose last known employer was SW Financial (CRD#:145012) of Melville, NY. His previous employers included Spartan Capital Securities, LLC (CRD#:146251) of New York, NY, Aegis Capital Corp. (CRD#:15007) of Melville, NY, and Gunnallen Financial, Inc (CRD#:17609) of New York, NY.

Four of Agnihotri’s previous employers have been expelled by FINRA.  He has been in the industry since 1999. Continue reading ›

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