Stockbroker Misconduct

Silver Law Group is Investigating Craig Blattner of Cetera Advisors

June 29, 2018 | Silver Law Group

Craig Blattner has been in the securities industry for 31 years most recently with Cetera Advisors LLC in Longwood, FL from September 2016 – February 2018. Previous registrations include Investors Capital Corp in Longwood, FL form May 2006 – October 2016. Mr. Blattner is no longer a registered stockbroker.

Blattner was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for 15 business days following allegations that he settled a client complaint away from his member firm.

FINRA’s findings stated that the value of a joint account of two clients served by Blattner allegedly declined by approximately $75,000. One of these clients complained, orally and in writing by e-mail, to Blattner about his management of their account and the losses they had suffered. Blattner did not disclose the client’s complaint to the firm, and that the complaint was never reported on his Form U4.

Silver Law Group is Investigating Peter Holler of Securities Service Network

June 29, 2018 | Silver Law Group

We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Peter D. Holler. FINRA suspended Holler from the securities industry for two years, fined him $10,000, and ordered him to disgorge $49,790 in commissions for selling Woodbridge Investments. FINRA was investigating Holler regarding allegations that he engaged in private securities without disclosing such to his former brokerage firm, Securities Service Network.

Peter Holler sold investments in Woodbridge Mortgage Investment Funds, a purported real estate fund. Holler sold $1.39 million worth of Woodbridge promissory notes. Since Woodbridge filed for bankruptcy last year, it is believed that the Woodbridge Investments have lost substantial value.

Peter Holler was a financial advisor and registered representative of Securities Service Network from November 2001 to August 2017. He worked at a branch office in Bristol, Tennessee. Holler also was affiliated with SSN Advisory and SBS Services.

Silver Law Group is Investigating Richard Minichino of Next Financial Group

June 29, 2018 | Silver Law Group

Richard Minichino has spent 7 years in the securities industry and was most recently registered with Next Financial Group in New York, New York (2016-2018). Previous registrations include Wunderlich Securities, JP Morgan Securities, Chase Investment and David Lerner Associates.

According to his BrokerCheck report, Richard Minichino was recently terminated from his former employer and has received four unsatisfied judgments or liens.

In February 2018, Richard Minichino was terminated from his position at Next Financial Group following an internal review regarding trades in a client’s account “that appeared to be unsuitable.”

Silver Law Group is Investigating Vicente Davila of Morgan Stanley

June 29, 2018 | Silver Law Group

Vicente Davila has spent eight years in the securities industry and was most recently registered with Morgan Stanley in Houston, Texas (2016 – 2018). Previous registrations include Merrill Lynch and Barclays Capital.

Publicly available records published by the Financial Industry Regulatory Authority (FINRA) state that former Texas-based Morgan Stanley broker/adviser Vicente Davila, who has received a customer dispute, was discharged from Morgan Stanley in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm.

According to his BrokerCheck report, he has received one customer complaint and was discharged from his former employer in connection to alleged rule violations.

Silver Law Group is Investigating Alan New of NYLife Securities LLC

June 29, 2018 | Silver Law Group

Alan New has been registered with NYLife Securities LLC in Fort Wayne, IN from 2004 to August 2016.

According to his BrokerCheck Report, New has been the subject of five customer complaints in 2018.

April 2018. “Plaintiff alleges that material facts and the risks associated with an unregistered investment purchased in Woodbridge Mortgage Investment Fund in December 2013 were not disclosed. Claimant seeks recovery of damages in the amount of at least $400,000.00.” The customer is seeking $400,000 in damages and the case is currently pending.

Silver Law Group is Investigating Frank Dietrich of Quest Capital Strategies, Inc.

June 29, 2018 | Silver Law Group

Frank Dietrich was registered with Quest Capital Strategies, Inc. in Lake Forest, California from March 2013 to April 2018, when he was terminated regarding, “Failure to fully disclose outside business activities and sale of unapproved product.” Dietrich sold Woodbridge notes to multiple investors.

Dietrich has been the subject of six customer complaints between 2013 and 2018, according to his CRD report. The complaints include:

April 2018: Client states that she purchased a Woodbridge Wealth Promissory Note through Frank Dietrich in January of 2017, outside of Quest Capital Strategies. The customer is seeking $200,000 in damages and the case is currently pending.

Silver Law Group is Investigating David Ridenour of Wells Fargo Clearing Services

June 29, 2018 | Silver Law Group

David Ridenour has been registered with Wells Fargo in Edmond, Oklahoma since 2012. He previously worked for Morgan Stanley Smith Barney.

Financial Industry Regulatory Authority (FINRA) CRD records show that Oklahoma-based Wells Fargo Clearing Services broker/adviser David Ridenour has received resolved or pending customer disputes.

According to his BrokerCheck report, he has received one customer complaint, one pending customer complaint, and one customer complaint that was closed.

FINRA Bars Broker Christopher Hibbard After Separation from Merrill Lynch

June 28, 2018 | Silver Law Group

Christopher Lee Hibbard (CRD #3176484) is a previously registered broker and investment advisor who has been barred from association with any FINRA-associated broker. His most recent employer was Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD #7691) of Louisville, KY, from 07/16/2010 through 01/26/2018. His previous employers include Morgan Keegan & Company, Inc. (CRD #4161), also of Louisville, and A. G. Edwards & Sons, Inc. (CRD #4) of St. Louis, MO. He has been in the industry since 1999.

Hibbard was discharged from Merrill Lynch on 01/08/2018, after allegations of “unauthorized transactions and theft.” His registration was officially terminated on 01/26/2018. As a result, FINRA conducted an inquiry and requested information from him, to which Hibbard failed to respond. As of 05/10/2018, FINRA permanently barred Hibbard from associating with any FINRA member in any capacity.

Additionally, the US Attorney’s Office in the Western District of Kentucky is investigating allegations of Hibbard’s unauthorized use of client funds during his tenure at Merrill, Lynch.

Broker Craig Blattner Suspended By FINRA

June 28, 2018 | Silver Law Group

Craig Dean Blattner (CRD #1590301) is a previously registered Florida broker and investment advisor. His last employer of record is Cetera Advisors LLC (CRD #10299) of Longwood, FL; his employment was terminated on 2/28/2018. He is not currently registered with any FINRA affiliated firm, and no other recent employment information is available. His previous employers include Investors Capital Corp. (CRD #30613) of Longwood, FL which merged with Cetera in September of 2016, Gunnallen Financial, Inc. (CRD #17609) of Orlando FL, and First Montauk Securities Corp. (CRD #13755) of Red Bank, NJ.

On or about 03/20/2018, Blattner was suspended by FINRA for 15 days after an inquiry into his business practices. He allegedly personally handled a customer complaint without notifying his employer.

In April of 2013, two longtime clients who had a joint account complained, both orally and in writing, about their account’s loss of $75,000. Blattner was supposed to disclose this complaint to his company at the time, ICC, and report it on his Form U4. Instead, Blattner wrote the clients a personal check for $15,000, instructing them to open a new account to deposit the check. The customers did so, and were told by Blattner that the check was to generate trading profits to replace the losses from their joint account. Failing to notify his employer of these complaints, and handling it away from the firm, is a violation of FINRA rule 2010.

State of Arkansas Bars Worden Capital’s Yousuf Saljooki For Five Years

June 28, 2018 | Silver Law Group

Yousuf Saljooki (CRD #5045123, a/k/a “Joe Saljooki”) is a former registered broker with Worden Capital Management LLC (CRD #148366) of Melville, NY. His previous employers include SW Financial (CRD #145012), Legend Securities, Inc. (CRD #44952, expelled) and Tryco Securities, Inc. (CRD #104025), among others. No current employment information is available. He has been in the industry since 2006.

Saljooki has had two employment separations in less than a year, in part, due to a ban by the state of Arkansas. During the application process, Saljooki failed to disclose an outstanding 2016 federal tax lien of $227,859. The state denied his application, and he was banned for five years. First, SW Financial, then Worden discharged him after the denial. He is not currently registered with any FINRA-affiliated broker.

Two previous disclosures in 2018 include customer disputes with almost identical allegations of churning and unsuitability, as well as breach of contract/fiduciary duty and unauthorized trading. The two disputes have requested damages totaling over $1.5 million. Both cases are pending.