Stockbroker Misconduct

Silver Law Group is Investigating James S. Polese of Morgan Stanley Smith Barney

May 14, 2018 | Silver Law Group

South-Florida-Broker-Giovanni-Acevedo-Accused-of-Converting-Funds-and-Providing-False-Information-to-FINRA-300x198-300x198 Silver Law Group is currently investigating Boston, MA and New York, NY based broker James S. Polese regarding complaints pertaining to failure to provide due diligence to investor clients, misrepresentation regarding client fees and security of investments, and misappropriation of client funds.

Based on FINRA’s BrokerCheck report on Polese, a complaint was filed on January 31, 2018 alleging that Polese provided misleading information to investor clients during his employment at Morgan Stanley Smith Barney. In 2016, Polese and his colleague Cornelius Peterson stole nearly $450,000 from one elderly client by misappropriating $350,000 of the client’s funds and using $100,000 of those funds to make investments in his own name and then directly taking the remaining $250,000 to his own personal bank account. In addition, Polese withdrew in excess of $93,000 of unauthorized withdrawals from the client’s account to pay his credit card expenses and children’s college tuition. The total in damages is yet to be decided as one of the actions is still pending.

Polese was previously employed at Morgan Stanley Smith Barney from 2010 to 2017. He has been employed at UBS Financial Services from 2004 to 2010.

Silver Law Group is Investigating Joseph Francis Valdini of Worden Capital Management LLC

May 14, 2018 | Silver Law Group

Silver Law Group is currently investigating Melville, NY based broker Joseph Francis Valdini regarding complaints pertaining to failure to provide due diligence to investor clients and placing unauthorized trades with subsequent margin call sellouts that caused major financial damages to investors.

Based on FINRA’s BrokerCheck report on Valdini, a FINRA complaint was filed on January 22, 2016 alleging that Valdini provided misleading information to investor clients during his employment at Worden Capital Management LLC. The total in damages alleged was $125,000 that was settled for $79,000. On January 18, 2016, there was also another claim filed during his employment at Worden Capital Management LLC that alleged damages of $28,125.60 related to unauthorized trading with margin call sellouts causing a loss of over $28,000 to one investor client. As a result of failing to cooperate in a FINRA investigation, Valdini has received a permanent suspension.

Valdini was previously employed at Worden Capital Management from 2014 to 2016 and at A&F Financial Securities, Inc. from 2008 to 2014. He has been employed at Aegis Capital Corp. from 2016 until his bar from the industry.

Silver Law Group is Investigating Joseph Daniel Krueger, II of Stifel, Nicolaus, & Company

May 11, 2018 | Silver Law Group

New-York-Broker-Gregory-Flemming-Suspended-by-FINRA-300x200 Silver Law Group is currently investigating Cleveland, Ohio based broker Joseph Daniel Krueger II regarding complaints pertaining to engaging in outside securities transactions by issuing and selling away promissory notes in the amount of $200,000 with his prior brokerage firm’s clients without notifying his prior brokerage firm.

Based on FINRA’s BrokerCheck report on Joseph Krueger II, a FINRA regulatory action was filed on December 4, 2017 alleging that Krueger II provided misleading information to investor clients from Stifel, Nicolaus, & Company during his employment at Stifel, Nicolaus, & Company, Inc. regarding a startup App company while simultaneously engaging in the selling of outside securities, which were used to finance startup costs associated with the App company. The total in damages fined was $10,000, which also included a suspension of 3 months.

Krueger II was previously employed at Stifel, Nicolaus & Co., Inc. from 2001 to 2015. He has been employed at Robert W. Baird & Co. from 2015 to the present.

FINRA Suspends Broker Shane Jason Kelly

May 8, 2018 | Silver Law Group

Shane Jason Kelly (CRD# 3152000) was recently suspended by FINRA. He was previously registered as a broker and investment advisor, but currently has no registrations. His last known employer was IFP Advisors, Inc. (CRD# 125112) of Tampa, FL.

Kelly’s previous employers include:

LPL Financial, (CRD# 6413) of Port Lucie, FL, from 08/19/2014 to 06/19/2017

FINRA Bars Jimmy Oswald Moscoso Over Allegations Of Improper Use of Customer Funds

May 7, 2018 | Silver Law Group

FINRA has permanently barred Jimmy Oswald Moscoso (CRD#2912265) in the fourth disclosure of his record as a previously registered broker. He was last employed with Lincoln Financial Advisor Corporation of Boca Raton, FL, from 03/05/2015 to 01/31/2018. He was previously employed by Putnam Retail Management Limited Partnership (CRD# 7325), of Boston, MA, from 03/18/1998 through 06/01/2004.

Moscoso was barred from acting as a broker, or otherwise associating with a FINRA broker-dealer firm in any capacity. This bar became effective on 02/14/2018, is indefinite and bars him from functioning as a broker in “all capacities.” While Moscoso neither denied nor admitted to the allegations, he consented to the sanctions and to the findings.

It was discovered that an elderly customer offered to invest in an alleged real estate deal, and gave Moscoso a check for $20,000 for the deal. The check was made out to the name of Moscoso’s business. He signed then deposited the check into an account he had control over, and used the funds for his own personal use. Moscoso violated FINRA Rules 2150(a) and 2010 governing this kind of transaction.

Craig Joseph Mardany

May 7, 2018 | Silver Law Group

Craig Joseph Mardany (CRD#4356113), a currently registered FINRA broker and employed with Merrill, Lynch, Pierce, Fenner & Smith Incorporated (CRD# 7691) of Newport Beach, CA. He has been registered with this firm since 10/23/2009. He was previously registered with Banc of America Investment Services, Incorporated, (CRD# 16361) from 03/12/2001 through 10/23/2009.

A customer dispute was filed on 01/03/2018. The customers allege misrepresentation, omission of material facts and unsuitable investment recommendations from 2002 until 2016 for equity listed common & preferred stock and variable share prepaid forward contracts. The customers have requested $10,000,000 in damages. The case is pending, and Mardany is still with Merrill Lynch.

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. Most cases handled on a contingent fee basis. This means that you won’t any pay legal fees unless we are successful. Call us toll free at 800-975-4345, or user our online contact form to get in touch.

FINRA Suspends Gregory Alan LeVine For Failure To Respond

May 7, 2018 | Silver Law Group

FINRA suspended former registered broker Gregory Alan LeVine (CRD# 2401300) indefinitely on 01/29/2018, pending a request for information. This suspension is indefinite, until LeVine provides FINRA the information requested from him, or until it is converted into a complete bar from financial services. LeVine is currently not registered with any FINRA member. His last employer was First Allied Advisory Services, (CRD# 32444) of Fort Lauderdale, FL, where he is listed as currently employed, but not registered.

LeVine’s previous employers include:

Commonwealth Financial Network, (CRD# 8032) of Fort Lauderdale, FL, from 05/22/2009 to 07/16/2012

FINRA Permanently Bars Carlos Nester Evertsz-Seda After Second Suspension

May 4, 2018 | Silver Law Group

FINRA has barred Carlos Nestor Evertsz-Seda (aka Carlos Nextor Evertsz, CRD# 4757897.) He is a previously registered broker, and is not currently registered with any FINRA member. His last place of employment was K.C. Ward Financial (CRD# 145135) of Ronkonkoma, NY from 03/05/2010 to 05/09/2017. Seda also worked for K.C. Ward Financial from 02/28/2008 to 09/23/2008. He also worked for J.P. Turner & Company, L.L.C. (CRD# 43177) prior to his tenure at K.C. Ward Financial, from 10/04/2006 to 03/26/2008.

Seda is the subject of two FINRA actions, both of which resulted in suspensions.

The first was filed on 5/2/2014, when it was discovered that Seda was involved in two outside business ventures without notifying his employer, and getting the employer’s permission to engage in the activities. One transaction netted Seta $10,000. He was fined $5,000 and suspended for one month, and signed an Acceptance, Waiver and Consent (AWC) letter without affirming or denying the allegations.

Broker Bradley Everett Gardner Accused Of Churning, Resigns After Accepting Customer Check In His Name

May 4, 2018 | Silver Law Group

Bradley Everett Gardner (CRD# 4423724) is a former broker and investment advisor whose last known position in the financial industry was with LPL, LLC, (CRD# 6413) of Fort Bragg, CA. He worked for LPL from 02/27/2012 to 10/18/2017. Previously, Gardner worked for:

Raymond Jones Financial Services, Inc. (CRD# 6694) of Fort Bragg CA, from 06/01/2009 to 02/29/2012
Wells Fargo Advisors Financial Network, LLC (CRD# 11025) of Fort Bragg, CA, from 06/13/2005 to 06/02/2009

FINRA Suspends Broker Lorene Fairbanks For Improper Financial Relationship With Client And Improper Communications With Client

May 4, 2018 | Silver Law Group

Lorene Fairbanks (CRD# 2788572) (aka “Lorene Fairbanks Miller,” “Lori Miller”) has been suspended by FINRA for five months due to allegations of an improper financial relationship with a client and improper communications. Her last registered employment was with Ameriprise Financial Services (CRD# 6363). She is not currently registered with any financial institution.

Fairbanks’ previous registration history includes:

Ameriprise Financial Services (CRD# 6363), of Canfield, OH, from 11/20/2014 to 06/09/2017.