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Articles Posted in Stockbroker Misconduct

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In July 2019, the Financial Industry Regulatory Authority (FINRA), suspended Linda Zara (a/k/a Linda Zaramontoya) (CRD# 2322009) of Summit Brokerage Services, Inc. in Boca Raton for “borrow[ing] $44,292 from a 94 year old member firm customer without providing prior notice to, or obtaining prior written approval from her firm.” The conduct occurred while Zara was employed by Wells Fargo Clearing Services, LLC.In July 2019, the Financial Industry Regulatory Authority (FINRA), suspended Linda Zara (a/k/a Linda Zaramontoya) (CRD# 2322009) of Summit Brokerage Services, Inc. in Boca Raton for “borrow[ing] $44,292 from a 94 year old member firm customer without providing prior notice to, or obtaining prior written approval from her firm.” The conduct occurred while Zara was employed by Wells Fargo Clearing Services, LLC. Continue reading ›

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Perry Santillo, an investment manager based in Rochester, New York, has pleaded guilty to participating in a $115 million Ponzi scheme that defrauded at least a thousand investors by convincing them to invest in businesses that had little or no operations. He and his associate Christopher Parris solicited investments in their companies, which were supposedly involved in financial services, insurance, and real estate, including First Nationle Solution LLC, Percipience Global Corp., and United RL Capital Services.Perry Santillo, an investment manager based in Rochester, New York, has pleaded guilty to participating in a $115 million Ponzi scheme that defrauded at least a thousand investors by convincing them to invest in businesses that had little or no operations.

He and his associate Christopher Parris solicited investments in their companies, which were supposedly involved in financial services, insurance, and real estate, including First Nationle Solution LLC, Percipience Global Corp., and United RL Capital Services. Continue reading ›

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Ken Kavanagh (CRD#: 4502223) is a suspended broker who formerly worked for Morgan Stanley (CRD#: 149777) in New York City, Citigroup Global Markets (CRD#: 7059), and UBS Financial Services (CRD#: 8174). Ken Kavanaugh’s publicly-available FINRA BrokerCheck report lists 3 disclosures, including 1 customer dispute, 1 employment separation after allegations, and 1 regulatory action.Ken Kavanagh (CRD#: 4502223) is a suspended broker who formerly worked for Morgan Stanley (CRD#: 149777) in New York City, Citigroup Global Markets (CRD#: 7059), and UBS Financial Services (CRD#: 8174).

Ken Kavanaugh’s publicly-available FINRA BrokerCheck report lists 3 disclosures, including 1 customer dispute, 1 employment separation after allegations, and 1 regulatory action. Continue reading ›

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Dexter ThomasDexter Thomas (CRD# 1074222) was a broker who formerly worked for LPL Financial (CRD# 6413) in Dallas, Texas, United Planners Financial Services of America (CRD# 20804), National Planning Corporation (CRD# 29604), Invest Financial Corporation (CRD# 12984), AIG Financial Advisors (CRD# 133763), Sunamerica Securities (CRD# 20068), and others. Silver Law Group represents investors in arbitration claims against LPL Financial. (CRD# 1074222) was a broker who formerly worked for LPL Financial (CRD# 6413) in Dallas, Texas, United Planners Financial Services of America (CRD# 20804), National Planning Corporation (CRD# 29604), Invest Financial Corporation (CRD# 12984), AIG Financial Advisors (CRD# 133763), Sunamerica Securities (CRD# 20068), and others.

Silver Law Group represents investors in arbitration claims against LPL Financial. Continue reading ›

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Bobby Coburn (CRD# 1464789) is a barred broker who formerly worked for Securities America, Inc. (CRD# 10205) in Fort Meade, FL. He previously worked for Brecek & Young Advisors (CRD# 40395), Legend Equities Corporation (CRD# 30999), Nationwide Securities (CRD# 11173), and others.Bobby Coburn (CRD# 1464789) is a barred broker who formerly worked for Securities America, Inc. (CRD# 10205) in Fort Meade, FL. He previously worked for Brecek & Young Advisors (CRD# 40395), Legend Equities Corporation (CRD# 30999), Nationwide Securities (CRD# 11173), and others.

Silver Law Group represents investors in arbitration claims against Securities America, which is a subsidiary of Ladenburg Thalmann. Continue reading ›

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Nicolas Barrios (CRD#: 2122824) is a currently-barred broker who formerly worked for UBS Financial Services (CRD#: 8174) in Winter Haven, Florida, Wachovia Securities (CRD#: 19616), First Union Brokerage Services (CRD#: 8112), and Merrill Lynch, Pierce, Fenner & Smith (CRD#: 7691).Nicolas Barrios (CRD#: 2122824) is a currently-barred broker who formerly worked for UBS Financial Services (CRD#: 8174) in Winter Haven, Florida, Wachovia Securities (CRD#: 19616), First Union Brokerage Services (CRD#: 8112), and Merrill Lynch, Pierce, Fenner & Smith (CRD#: 7691).

Silver Law Group represents investors in arbitration claims against UBS Financial Services. Our Florida investment fraud attorneys can represent you on a contingency fee basis. Continue reading ›

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Mercer Hicks III (CRD#: 245170, a/k/a “Mercer Hicks,” “Toby Mercer Hicks III,” or “Toby Hicks III”) is a currently registered broker and formerly registered investment advisor currently employed with Southeast Investments, N.C., INC. (CRD#: 43035) of Charlotte, NC. His previous employers include Capital Investment Group, Inc. (CRD#:14752) and Cantella & Co., Inc. (CRD#:13905), both of Pinehurst, NC, and American Investment Services, Inc. (CRD#:21111, expelled by FINRA in 2003) of Oklahoma City, OK. He has been in the industry since 1972.Mercer Hicks III (CRD#: 245170, a/k/a “Mercer Hicks,” “Toby Mercer Hicks III,” or “Toby Hicks III”) is a currently registered broker and formerly registered investment advisor currently employed with Southeast Investments, N.C., INC. (CRD#: 43035) of Charlotte, NC. His previous employers include Capital Investment Group, Inc. (CRD#:14752) and Cantella & Co., Inc. (CRD#:13905), both of Pinehurst, NC, and American Investment Services, Inc. (CRD#:21111, expelled by FINRA in 2003) of Oklahoma City, OK. He has been in the industry since 1972. Continue reading ›

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Benjamin Benoit Lowder Jr. (CRD: #3014106) is a former registered broker whose last employer was MSI Financial Services, Inc. (CRD#:14251) of Charlotte, NC. He was previously employed with Metropolitan Life Insurance Company (CRD#:4095), also of Charlotte, NC, and Jefferson Pilot Securities Corporation (CRD#:3870) of Fort Wayne, IN. He has been in the industry since 1998.Benjamin Benoit Lowder Jr. (CRD: #3014106) is a former registered broker whose last employer was MSI Financial Services, Inc. (CRD#:14251) of Charlotte, NC. He was previously employed with Metropolitan Life Insurance Company (CRD#:4095), also of Charlotte, NC, and Jefferson Pilot Securities Corporation (CRD#:3870) of Fort Wayne, IN. He has been in the industry since 1998.

Lowder has eight disclosures, seven of which are customer disputes with the same allegations in the FINRA investigation. The first dispute filed was on 4/30/2018, and the most recent filed on 7/1/2009. All but one of these customer disputes filed with FINRA request damages of $25,000.01. Continue reading ›

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Christopher R. (“Cubby”) Brice 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.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 ›

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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.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 ›

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