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SEC Charges Barry Honig In $27M South Florida Microcap Fraud

October 12, 2018 | Silver Law Group

South Florida businessman Barry Honig of Boca Raton is one of several people named by the SEC in a microcap stock fraud indictment involving manipulation of stock values of three companies. Using a “classic pump-and-dump” technique, the SEC alleges, Honig and others increased the companies’ stock values and dumped them. Investors were left with deflated stock after the scheme was discovered.

The Woodbridge Group of Companies is Under Investigation by the SEC on elderfinancialfraudattorneys.com The SEC is seeking civil relief penalties and disgorgement of the ill-gotten gains against the defendants and the companies.

The Scheme

Silver Law Group and Law Firm of David R. Chase File Case Against Independent Financial Group for Selling Away

September 7, 2018 | Silver Law Group

Silver Law Group and The Law Firm of David R. Chase filed a FINRA arbitration claim against Independent Financial Group, a securities firm, after its broker improperly recommended the services of an individual who the SEC claims was engaged in a Ponzi scheme.

The statement of claim alleges the Claimant was the client of Independent Financial Group and its broker, Jon Pariser (CRD# 2755015). In or around June 2017, Pariser informed Claimant that he was retiring and that he had a capable and skilled professional who he could recommend to take over — Christopher A. Parris, an unlicensed securities broker.

Pariser allegedly told the Claimant that Parris came highly-recommended and could be trusted, despite the fact that Parris had been suspended by FINRA less than two (2) years prior. The Claimant, according to the statement of claim, was unaware of this fact and relied upon Pariser’s professional opinion.

Silver Law Group has filed a FINRA Arbitration Against MetLife Securities / MSI Financial Services and ELE Wealth Advisors Concerning Selling Away Claims

August 31, 2018 | Silver Law Group

Silver Law Group has filed a FINRA arbitration claim against MetLife Securities / MSI Financial Services (“MetLife”), ELE Wealth Advisors and their former broker, Gail Milon (CRD# 1766745) after Milon sold an investment in Tallahassee, Florida-based Cambridge Capital Group LLC.

The statement of claim alleges the Claimant had invested with Milon for over a decade. In or around 2017, Milon induced her to invest in Cambridge Capital Group. The investment was supposed to be a short-term, real estate investment.

Milon became involved with Cambridge Capital Group, a company affiliated with Phillip “Tim” Howard of Howard & Associates. Cambridge Capital Group is affiliated with numerous other companies, including but not limited to Cambridge Capital Advisors; Cambridge Capital Wealth Advisors L.L.C.; Cambridge Capital Insurance Agency LLC; Cambridge Capital Funding, Inc.; Cambridge Sports and Entertainment, LLC; and Cambridge Graduate University, Inc. (collectively “Cambridge Capital”).

Silver Law Group Files a FINRA Arbitration Claim Against Centaurus Financial Concerning Unsuitable Recommendations by a Broker

August 9, 2018 | Silver Law Group

Silver Law Group has filed a FINRA arbitration claim against Centaurus Financial, Inc. for unsuitable investment recommendations.

The securities arbitration claim alleges the Claimants are both U.S. military veterans who entrusted their life savings to the advisor in 2008 when she was employed by J.P. Turner & Company. They transferred their accounts to Centaurus Financial when the advisor left J.P. Turner & Company. The securities arbitration claim alleges the investors were conservative investors who did not want to risk their principal and jeopardize their retirement.

Centaurus Financial disregarded the Claimants’ wishes and invested their money in a variety of riskier investment products such as non-traded real estate investment trusts (REITs), market-linked CDs, and structured notes.

Century Securities Associates Broker Bernard McLaughlin Jr. Under Investigation After Declaring Bankruptcy

June 14, 2018 | Silver Law Group

Silver Law Group is investigating Minnesota-based Century Securities Associates, Inc. broker Bernard McLaughlin Jr. (CRD# 601178) after he declared bankruptcy.

According to McLaughlin’s FINRA BrokerCheck report, McLaughlin declared bankruptcy in August 2017. McLaughlin’s debts incurred in the bankruptcy were discharged in November 2017.

A bankruptcy disclosure indicates that the broker may have financially struggled leading up to the bankruptcy. This financial distress can sometimes lead brokers to recommend unsuitable, risky products with high commissions and fees or engage in other securities misconduct such as excessively trading (churning) customers’ accounts in order to generate higher commissions.

Former Transamerica Financial Advisors Broker Robert Perta Under Investigation After Customer Files a $4.2 Million Complaint

June 14, 2018 | Silver Law Group

Silver Law Group is investigating former Illinois-based Transamerica Financial Advisors, Inc. broker Robert Perta (CRD# 536528) after a customer filed a claim alleging over $4.2 million in damages.

The complaint, filed in the Federal Court in December 2017, alleges that Perta was involved with a scheme to misappropriate investor money by FINRA-barred broker Daniel Glick (CRD# 2175655). Glick, also formerly employed by Transamerica Financial Advisors, allegedly solicited money from investors into his businesses so he could steal money from his customers. Glick allegedly stole the money and covered it up by lying to his customers and, in some cases, manufacturing false account statements. Across all plaintiffs, the complaint alleges approximately $6.5 million in damages.

In January 2018, the SEC reported that Glick pled guilty to one count of wire fraud in the criminal case against him. According to the plea agreement, from at least 2011 through at least 2017, Glick engaged in a fraudulent scheme to benefit himself by defrauding his clients.

South Florida Raymond James Broker Victor T. Connor Under Investigation After Customer Brings $300,000 Complaint Alleging Unsuitability

June 14, 2018 | Silver Law Group

Silver Law Group is investigating Wellington, Florida-based Raymond James Financial Services, Inc. (“Raymond James”) broker Victor T. Connor (CRD# 843521).

According to Connor’s FINRA BrokerCheck report, in September 2017, a Raymond James customer brought a FINRA arbitration alleging unsuitable recommendations, negligent misrepresentation, breach of contract, negligence, and failure to supervise. The complaint alleges approximately $325,000 in damages.

Victor T. Connor’s History in the Industry

Former South Florida-based LPL Financial Broker Pedro O. Diaz Under Investigations After Termination from LPL Financial

June 14, 2018 | Silver Law Group

Silver Law Group is investigating former Coconut Creek, Florida-based LPL Financial broker Pedro O. Diaz (CRD# 4877003) after LPL Financial discharged him for short-term trading in mutual funds. Short-term trading in mutual funds, according to Diaz’s FINRA BrokerCheck report, a violation of LPL Financial’s policies.

LPL Financial had employed Diaz since March 2010 and terminated him in December 2017. Now, Newbridge Securities Corporation employs Diaz at its Boca Raton, Florida branch.

Diaz, who has been in the securities industry at South Florida brokerage firms for 12 years, also is an insurance agent. Diaz sells fixed annuities and spends 10 percent of his time doing so.

FINRA Bars Former LPL Financial Broker Sonya Camarco After SEC Brings Charges Alleging Misappropriation of $2.8 Million of Client Funds

June 14, 2018 | Silver Law Group

Silver Law Group is investigating former Colorado Springs, Colorado-based LPL Financial LLC broker Sonya Camarco (CRD# 2427529) after FINRA permanently barred her from the industry.

According to Camarco’s FINRA BrokerCheck report, FINRA barred Camarco in September 2017 after she failed to respond to its inquiry for information.

Sonya Camarco’s Employment with LPL Financial

FINRA-barred New Jersey Broker Robert B. Delguercio Under Investigation Due to 15 Disclosures on his BrokerCheck Report

June 14, 2018 | Silver Law Group

Silver Law Group is investigating former Herbert J. Sims & Co. Inc. (“HJ Sims”) broker Robert B. Delguercio (CRD# 2639851) after FINRA permanently barred him from the acting as a broker or otherwise associating with a brokerage firm.

According to Delguercio’s FINRA BrokerCheck report, FINRA barred the New Jersey-based broker after he refused to appear for FINRA-requested on-the-record testimony related to a FINRA arbitration claim filed by his customers.

Robert B. Delguercio’s Extensive List of BrokerCheck Disclosures