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Articles Posted in Stockbroker Misconduct

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Chris Raymond Kubiak (CRD#: 1527367) is a previously registered broker whose last employer was Calton & Associates, Inc. (CRD#:20999) of Brookfield, WI. His previous employers include American Global Wealth Management, Inc. (CRD#:7388) of McDonough, GA, Freedom Investors Corp. (CRD#:23714) of Brookfield, and Dreher & Associates, Inc. (CRD#:8665) of Oakbrook Terrace, IL.  He has been in the industry since 1986.On 9/25/2018, Kubiak was arrested and charged with “felony theft by fraud” (Theft 943.20(1)(b)). The charges are currently pending, and he has not yet entered a plea.Chris Raymond Kubiak (CRD#: 1527367) is a previously registered broker whose last employer was Calton & Associates, Inc. (CRD#:20999) of Brookfield, WI. His previous employers include American Global Wealth Management, Inc. (CRD#:7388) of McDonough, GA, Freedom Investors Corp. (CRD#:23714) of Brookfield, and Dreher & Associates, Inc. (CRD#:8665) of Oakbrook Terrace, IL.  He has been in the industry since 1986.

On 9/25/2018, Kubiak was arrested and charged with “felony theft by fraud” (Theft 943.20(1)(b)). The charges are currently pending, and he has not yet entered a plea. Continue reading ›

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Brandon Curt Stimpson (CRED#: 4299623) is a currently registered investment advisor and former registered broker. His last employer of record is Allegis Investment Services, LLC (CRD#:168557) of North Logan, UT. Previous employers include Signator Financial Services, Inc. (CRD#:19061), also of North Logan, Insphere Securities, Inc. (CRD#:136433) of Salt Lake City, UT, and Equity Services of Logan, UT. Current employment information is not listed. He has been in the business since 2000.Stimpson is the subject of nine disclosures, the latest a “separation employment after allegations.” Allegis Investment Advisors discharged Stimpson on 12/13/2017 after he “failed to follow firm policies and code of ethics.” Additional details are not available.Brandon Curt Stimpson (CRED#: 4299623) is a currently registered investment advisor and former registered broker. His last employer of record is Allegis Investment Services, LLC (CRD#:168557) of North Logan, UT. Previous employers include Signator Financial Services, Inc. (CRD#:19061), also of North Logan, Insphere Securities, Inc. (CRD#:136433) of Salt Lake City, UT, and Equity Services of Logan, UT. Current employment information is not listed. He has been in the business since 2000.

Stimpson is the subject of nine disclosures, the latest a “separation employment after allegations.” Allegis Investment Advisors discharged Stimpson on 12/13/2017 after he “failed to follow firm policies and code of ethics.” Additional details are not available. Continue reading ›

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Robert Daniel Witt (CRD#: 2926506) is a previously registered broker and investment advisor whose last employer was Voya Financial Advisors, Inc. (CRD#:2882) of Libertyville, IL. His previous employers include ING Financial Partners, Inc. (CRD#:2882) of Bloomington, IN, Oneamerica Securities, Inc. (CRD#:4173) and American United Life Insurance Company (CRD#:1075), both of Indianapolis, IN.  No current employment information is available. He has been in the industry since 1997.Witt is the subject of fifteen disclosures dating back to 2009. The most recent is a letter from FINRA barring Robert Witt from associating with any FINRA member broker-dealer. After Witt failed to respond to a request for information, FINRA issued two letters of suspension dated 10/03/2018 and 10/29/2018. Witt did not request a termination of suspension, and was barred indefinitely, effective 1/7/2019.Robert Daniel Witt (CRD#: 2926506) is a previously registered broker and investment advisor whose last employer was Voya Financial Advisors, Inc. (CRD#:2882) of Libertyville, IL. His previous employers include ING Financial Partners, Inc. (CRD#:2882) of Bloomington, IN, Oneamerica Securities, Inc. (CRD#:4173) and American United Life Insurance Company (CRD#:1075), both of Indianapolis, IN.  No current employment information is available. He has been in the industry since 1997. Continue reading ›

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Richard Vincent Minichino II (CRD#: 5760826) is a former registered broker and investment advisor whose last employer was Next Financial Group, Inc. (CRD#:46214) of New York, NY. His previous employers include Wunderlich Securities, Inc. (CRD#:2543), also of New York, J.P. Morgan Securities LLC (CRD#:79) of Peekskill, NY, and Chase Investment Services Corp. (CRD#:25574) of Yorktown Heights, NY. He has been in the industry since 2010.Minichino was the subject of two FINRA actions that ultimately led to his bar from working as a broker. The first was filed on 6/25/2018, in response to his failure to comply with an arbitration award and/or settlement agreement. He was suspended effective 9/13/2018 indefinitely, until the amount due is paid (which is not listed.) FINRA then sent two notices of suspension to Minichino, on 9/17/2018 and 10/11/2018. After failing to comply with a FINRA request for information and did not request a termination of his suspension, Minichino was then barred indefinitely effective 12/20/2018.Richard Vincent Minichino II (CRD#: 5760826) is a former registered broker and investment advisor whose last employer was Next Financial Group, Inc. (CRD#:46214) of New York, NY. His previous employers include Wunderlich Securities, Inc. (CRD#:2543), also of New York, J.P. Morgan Securities LLC (CRD#:79) of Peekskill, NY, and Chase Investment Services Corp. (CRD#:25574) of Yorktown Heights, NY. He has been in the industry since 2010.

Minichino was the subject of two FINRA actions that ultimately led to his bar from working as a broker. The first was filed on 6/25/2018, in response to his failure to comply with an arbitration award and/or settlement agreement. He was suspended effective 9/13/2018 indefinitely, until the amount due is paid (which is not listed.) Continue reading ›

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Sierra Alexandria Crocker, a previously registered who worked for Voya Financial Partners, was terminated following an arrest, then barred by FINRA.Sierra Alexandria Crocker (CRD #6725624) is a previously registered broker whose last known and only broker employer was Voya Financial Partners, LLC (CRD#:34815) of Jacksonville, FL. She began in the industry in 2016, and no current employment information is available.

Crocker’s employment with Voya was terminated on 03/02/2018 after she was arrested “for a violation of Section 817.034(4)(A)3 of the Florida Statutes for organized fraud.”  According to available arrest information, she was released on a $10,000 bond. Continue reading ›

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Jonathan Ebel (CRD#: 5902719) is a registered broker currently employed with Laidlaw & Company (UK) LTD. (CRD#:119037) of Melville, NY. He was previously employed with Rockwell Global Capital LLC (CRD#:142485) and Ekn Financial Services Inc. (CRD#:113525), also of Melville. He has been in the industry since 2011. Ebel is currently employed by Network 1 Financial.Ebel has one customer dispute, filed on 5/22/2018, alleging “excessive and unsuitable trading from 2016-2018.”  The client requested damages of $71,000, and the claim was settled for $30,000. Ebel denies the claim.Jonathan Ebel (CRD#: 5902719) is a registered broker currently employed with Laidlaw & Company (UK) LTD. (CRD#:119037) of Melville, NY. He was previously employed with Rockwell Global Capital LLC (CRD#:142485) and Ekn Financial Services Inc. (CRD#:113525), also of Melville. He has been in the industry since 2011. Ebel is currently employed by Network 1 Financial.

Ebel has one customer dispute, filed on 5/22/2018, alleging “excessive and unsuitable trading from 2016-2018.”  The client requested damages of $71,000, and the claim was settled for $30,000. Ebel denies the claim. Continue reading ›

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Francisco Javier Valenzuela (CRD#: 2786970) is a previously registered broker and investment advisor whose last employer was Morgan Stanley (CRD#:149777) of Tucscon, AZ. His previous employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691), also of Tucson, Chase Investment Services Corp. (CRD#:25574) of Nogales, AZ, and Banc One Securities Corporation (CRD#:16999) of Chicago, IL. No current employment information is available. He has been in the industry since 1996.Valenzuela failed to respond to a request for information from FINRA, and was subsequently barred in all capacities from 10/11/2018 through 11/16/2018. He is no longer barred from affiliating with a FINRA member firm.Francisco Javier Valenzuela (CRD#: 2786970) is a previously registered broker and investment advisor whose last employer was Morgan Stanley (CRD#:149777) of Tucscon, AZ. His previous employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691), also of Tucson, Chase Investment Services Corp. (CRD#:25574) of Nogales, AZ, and Banc One Securities Corporation (CRD#:16999) of Chicago, IL. No current employment information is available. He has been in the industry since 1996.

Valenzuela failed to respond to a request for information from FINRA, and was subsequently barred in all capacities from 10/11/2018 through 11/16/2018. He is no longer barred from affiliating with a FINRA member firm. Continue reading ›

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FINRA-Permanently-Bars-Gary-Eugene-Donovan-for-Stock-Manipulation-300x200The SEC obtained a preliminary injunction against two individuals and their companies on October 26, 2018. The fraudulent actions of these individuals resulted in more than $165 million of illegal sales and stock in at least 50 microcap companies.

According to the SEC, U.K. citizen Roger Knox and his Swiss-based company, Wintercap SA, was involved in antifraud and violating federal securities laws. German citizen Michael T. Gastauer and six of his entities were involved in aiding and abetting Knox and Wintercap’s violations of the same provisions. The court had originally entered a temporary restraining order and asset freeze on October 2, 2018.

The SEC’s complaint states that Knox and Wintercap aided microcap securities holders in evading federal securities laws that restrict sales by large shareholders. Knox and Wintercap gave anonymous access to brokerage accounts in order to sell shares in the U.S. market. They also helped sellers conceal the amount of stock they wanted to sell. Gastauer allegedly established several U.S. corporations to aid and abet the fraud, and allowed Knox to use certain bank accounts to distribute the proceeds of his illegal stock sales.

Continue reading ›

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The SEC has brought additional charges against a Long-Island, New York-based boiler room that was sued for defrauding elderly and unsophisticated investors. The latest charges allege that Christian Romandetti, CEO of First Choice Healthcare Solutions Inc., the boiler room, and four others have committed fraud within the company’s shares and have generated more than $3.3 million of illegal profits. The new charges also allege that the parties generated more than $560,000 in kickbacks for Romandetti.

The SEC’S statement alleges that Romandetti and the other parties lied to more than 100 victims in a scheme that inflated First Choice’s stock price from less than $1 per share to $3.40 per share. From September 2013 until June 2016, the parties used several accounts to disguise their trading, and engaged in fraudulent trading practices. Elite Stock Research, a boiler room run by one of the defendants, Anthony Vassallo, was hired to promote First Choice to investors.

The SEC originally charged Elite Stock Research with bilking victims out of more than $10 million through fraudulent sales tactics and lies about penny stocks. Seven of the 13 individuals have pleaded guilty to criminal charges brought by the U.S. Attorney’s Office for the Eastern District of New York. The litigation against the 13 individuals is still continuing.

Continue reading ›

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Why-South-Florida-is-a-Target-for-Ponzi-Schemers-300x200A securities agent and former state legislator, Robert Kenneth Lindell, is found guilty on 15 counts of securities fraud, intentional evasion of income tax, and failure to pay Maine income tax, in what authorities call one of Maine’s worst cases of elder financial abuse. He defrauded two widows out of more than $3 million.

“Mr. Lindell was a trusted financial professional in Maine,” said Judith Shaw, the Maine securities administrator. “But more than that, he was like family to these women. He groomed them for years in order to perpetrate these crimes, preying on their trusting nature and vulnerabilities.” Continue reading ›

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