Securities Arbitration Lawyers BlogBryon Martinsen Of Centaurus Financial Suspended By FINRA After Private Securities Transactions Related To The Parking REIT
Bryon Martinsen (Bryon Edwin Martinsen CRD# 1621649) is a currently registered broker and investment advisor employed with Centaurus Financial, Inc. (CRD #30833) of Kings Park, NY. Martinsen previously worked for AXA Advisors, LLC and The Equitable Life Assurance Society Of The United States, in New York, NY. He has worked in the industry since 1987. Continue reading ›
Jaime Westenbarger (Jaime Michael Westenbarger 
Stockbrokers should not borrow money from their clients. That’s according to 
Timothy Johnson (Timothy Edward Johnson, Jr. CRD #
Stephen Fry (Stephen Douglas Fry CRD: ![Hugh Barndollar (Hugh Ordway Barndollar III, CRD #3027317, aka “Hobby Barndollar”) is a former registered broker and currently registered investment advisor last employed by Crown Capital Securities, L.P. (CRD#: 6312) of Land O’Lakes, FL. Barndollar was employed with Crown Capital until he voluntarily resigned on December 31, 2021. His previous employers include Newport Coast Securities, Inc. (CRD# 16944, expelled by FINRA, 6/25/2018) of Odessa, FL, J.P. Turner & Company, L.L.C. (CRD# 43177) of New Port Richey, FL, and Calton & Associates, INC. (CRD# 20999) of Ocala, FL. He has been in the industry since 1998. While at Crown Capital, Barndollar also served as an investment advisor representative (IAR) through a registered investment advisory firm (RIA) providing asset management services. In this capacity he recommended and facilitated investments in ten private offerings for alternative investments. He participated in 28 unapproved private securities transactions for 18 clients totaling $1,418,108.00. Of the 18, 12 were also customers of Crown Capital. Although Barndollar notified Crown Capital of his outside business activity, he did not notify the firm with prior written notice of the alternative investment private placements. He also failed to obtain the firm’s written authorization to participate in accordance with Crown Capital’s written policy. Barndollar also falsely claimed on his yearly compliance questionnaires from 2018 through 2021 that he had not participated in any private security transactions without notifying the firm and receiving authorization. In May of 2020, Crown Capital put Barndollar on heightened supervision, which included a prohibition on selling alternative investments. He sold them anyway, participating in 13 transactions worth $742,048. Barndollar’s Unhappy Customers From 2010 through 2021, eight of his customers initiated new customer disputes leading to multiple FINRA arbitrations against Barndollar. 1. In a claim filed on 4/14/2021, a client alleged that Barndollar exhibited a “lack of suitability and failure to conduct proper due diligence in regards to the purchase of alternative investments.” This claim was settled for $35,000. 2. A claim filed on 8/28/2020 had similar allegations of “lack of suitability, negligence, misrepresentations and omissions of material facts in regards to transactions in nontraditional, alternative and/or non-traded REIT investments.” This claim was settled for $25,000. 3. A claim filed on 8/11/2020 included complaints of “lack [of] suitability, negligence and misrepresentations and omissions of material facts in regards to transactions in alternative and variable annuity investments.” This claim is “pending,” and no financial damages are listed. Barndollar indicates a personal relationship with the now-deceased client, and that the decedent’s children have filed the dispute. 4. A second claim filed on 8/11/2020 had the same allegations as the above but was settled for $82,500. No additional information is available. 5. The next dispute, filed on 7/23/2020, alleges “lack adequate due diligence, negligence and misrepresentations and omissions of material facts in regards to transactions in a non-traded REIT.” This claim was settled for $36,000. 6. A dispute filed on 6/9/2020 included allegations of “lack of due proper due diligence, breach of fiduciary duty and suitability obligations as it relates to the purchase of illiquid alternative investments.” The client requested damages of $125,000, and the claim was settled for $45,000, with Barndollar commenting that the firm settled to avoid litigation. 7. A client filed a dispute on 5/13/2020 alleging that they were sold alternative investments that underperformed, and the claim was settled for $160,000. 8. A client dispute filed on 4/9/2020 included allegations of unsuitability, lack of proper due diligence, and breach of contract regarding two alternative investments that the client purchased in April of 2018. The client requests damages in the amount of $100,100.00. Barndollar refutes the claim, stating that he acted only in a supervisory position. The claim was settled for $37,500 and is now closed. 9. In a prior dispute filed on 7/18/2019, a client alleged negligence in supervision by Crown Capital and failing to do adequate due diligence, negligence in account handling and recommendation of investments and breach of fiduciary duty. The client requested damages of $100,000, and the claim was settled for $30,000. 10. Similar allegations were listed in a third disclosure from 2010 while Barndollar was employed with Newport Coast Securities before it was expelled by FINRA. In it, Barndollar was one of four respondents who were involved in the claim regarding the sale of unregistered securities, which resulted in a FINRA arbitration hearing. The clients requested damages in the amount of $124,800.00, and were awarded $47,500.00. Our attorneys are currently arbitrating claims relating to GPB and other illiquid investments for claims relating to unsuitability, overconcentration, and failure to disclose the risks of these types of investments. Many clients allege that they didn’t understand the risk of these complex illiquid investments and are stuck holding these products. These types of investments can have substantial upfront fees or costs and investors may not be fairly compensated for the risk of holding these types of products. Have You Invested With Hugh Barndollar? Scott Silver and the securities and investment fraud lawyers at Silver Law Group represents investors in The Villages and surrounding areas on a regular basis. We can meet with you at your home, online or by phone to discuss the specific facts of your case. We appreciate the unique circumstances of many investors in the Villages area and understand that many investors are retired and were seeking safe investments that provided for income. Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today and let us know how we can help.](https://www.silverlaw.com/blog/wp-content/uploads/2021/10/FiverrLossesSmall.jpg)
Kevin Rainwater (Kevin Lamar Rainwater CRD#
John Wyshak (John Charles Wyshak CRD: 
Jeremy Rosen (Jeremy Seth Rosen CRD# 5513416) is a broker currently registered with Nationwide Planning Associates, Inc. (