Unsuitable Investment Advice

Marc Korsch of Centaurus Financial, Inc.

January 11, 2019 | Silver Law Group

Marc Korsch (CRD #5525226) has been employed by Centaurus Financial, Inc. since February 2014. Korsch was registered with the following firms: Trustmont Financial Group, Inc. from March 2011 to March 2014, Capital Financial Services, Inc. from July 2010 to March 2011, Variable Investment Advisors, Inc. from April 2010 to July 2010 and Gradient Securities, LLC from July 2009 to April 2010.

Christopher Robert Hickman is Sanctioned by FINRA on elderfinancialfraudattorneys.com According to the FINRA BrokerCheck, there have been complaints against Marc Korsch.

In 2018, while employed by Centaurus Financial, Inc., Claimant alleges that recommendation of annuity switches are unsuitable and that the fees, surrender penalties/charges and annuity terms were not adequately discussed.

Broker John Cione Subject of $600K Customer Dispute

January 4, 2019 | Silver Law Group

John Michael Cione (CRD #1742561) is a registered broker and investment advisor currently employed with Independent Financial Group (CRD #7717) of San Diego, CA. His previous employers include Sentra Securities Corporation (CRD #10249) and Spelman & Co., Inc. (CRD #10232) both of Phoenix, AZ and Foresters Equity Services, Inc. (CRD #18464), also of San Diego. He has been in the industry since 1987.

FINRA Reports Brokers Nas Adel Allan and Gregory Anastos Made Unsuitable Recommendations on elderfinancialfraudattorneys.com One of Cione’s customers recently filed a dispute, alleging that from September 2007 and August 2016, he made unsuitable recommendations for investments that incurred financial losses and “lost opportunity.” For this claim, the client is asking for damages of $671,490.00. Cione denies the claim and intends to defend it.

Cione has one previous regulatory disclosure from 1990, issued by the National Association Of Securities Dealers, Inc. (predecessor to FINRA.) He was censured and fined $2,000. No additional information is available.

Atul Makharia Customer Disputes Allege Unsuitability

December 28, 2018 | Silver Law Group

Atul Makharia (CRD #5070762) is a registered broker currently employed with Centaurus Financial, Inc. (CRD #30833) of Lexington, SC. Makharia’s previous employers are J.P. Turner & Company, L.L.C. (CRD #43177), Gunnallen Financial, Inc. (CRD #17609), and First Allied Securities, Inc. (CRD #32444), also of Lexington, SC. Makharia has been in the industry since 2006.

Broker-Ricardo-Broome-Permanently-Barred-From-FINRA-300x200-300x200 There are three disclosures in Makharia’s FINRA record. Two nearly identical customer disputes were filed on 11/8/018 and 10/15/2018. Both allege “unsuitability,” and one describes but doesn’t include “several other allegations associated therewith.” Makharia denies allegations in both disputes. Both disputes are currently pending.

A third customer dispute, filed on 1/31/2017 with the state of South Carolina, alleges that Makharia sold the customer a CD but failed to provide a prospectus. The client requested damages of $20,000. After an investigation provided the required information to the state, the claim was closed with no further actions.

Broker Ricky Mantei Subject To Allegations Of Unsuitability

December 28, 2018 | Silver Law Group

Ricky Allen Mantei (CRD #1098981, aka “Ricky Allen Mantel”) is a registered broker currently employed with Centaurus Financial, Inc. (CRD #30833) of Lexington, SC. His previous employers include J.P. Turner & Company, L.L.C. (CRD #43177), Gunnallen Financial, Inc. (CRD #17609), First Allied Securities, Inc. (CRD #32444), also of Lexington, SC.

FINRA-Orders-Interactive-Brokers-LLC-to-Pay-Hedge-Fund-667000-1024x1024-300x300 Mantei is the subject of eight disclosures, three of which are currently pending customer disputes, all with the allegations of “unsuitability.” The most recent were filed on 10/25/2018 and 9/28/2018, with requested damages totaling $268,238.

The third customer dispute, filed on 5/21/2018, is from by the daughter of a deceased client. In this case, a registered representative under Mantei recommended “unsuitable investments” which resulted in a loss upon liquidation. The damages requested total $100,000. Mantei states in his rebuttal that he was acting in his capacity as Branch Manager for the Office of Supervisory Jurisdiction where the RR was assigned, there was a survivorship option involved, and denies the allegations.

Kevin Wilson Subject of Two Disputes Totaling $2.4M

December 26, 2018 | Silver Law Group

Kevin Richard Wilson (CRD #326701) is a registered broker currently employed with National Securities Corporation (CRD #7569) of New York, NY. His previous employers include Laidlaw & Company (UK) LTD. (CRD #119037), Aegis Capital Corp. (CRD #15007) and Gilford Securities Incorporated (CRD #8076), all of New York, NY. He has been in the industry since 1999.

Why Private Placements are Often Risky and Unsuitable Investments on silverlaw.com Wilson has two disclosures, both pending customer disputes that were filed this year. The first was filed on 10/24/2018, alleging “unsuitability” from 2010 through 2017. The client requests damages of $2,000,000.00.

The second disclosure was filed on 07/09/2018, alleging over-concentration and unsuitability from 2009 through 2017. This client requests damages of $457,000.00.

FINRA Bars Jon Pariser After Allegations Of Customer Referrals To Unregistered Individual

December 20, 2018 | Silver Law Group

Our attorneys currently represent customers of Jon Pariser against Independent Financial Group for losses related to First Nationle Solution. Jon Richard Pariser (CRD #2755015) is a former registered broker whose last employer was Independent Financial Group, LLC (CRD #7717) of Pacific Grove, CA. His previous employers include SWS Financial Services, INC. (CRD #17587) and LPL Financial LLC (CRD #6413), also of Pacific Grove, CA. No current employment information is available. He has been in the industry since 1996.

South-Florida-Broker-Brian-Michael-Berger-Permanently-Barred-by-FINRA-1024x683-300x200 Pariser is barred in all capacities after he failed to provide requested information to FINRA for an investigation. The documentation relates to allegations that he referred some of his customers to an individual who was not a registered FINRA broker. This unregistered individual and may have recommended to or actually sold these customers “potentially unsuitable” securities. Pariser violated FINRA Rules 8210 and 2010 by refusing to provide this requested documentation, which led to him being barred. He signed an Acceptance, Waiver & Consent (AWC) letter consenting to the sanctions, and he is barred effective 10/04/2018.

His next disclosure is an employment separation from SWS Financial Services on 6/20/2014, which is connected by a closed customer dispute filed four days earlier, involving “unauthorized discretion.” The allegations state that “during the course of normal e-mail correspondence review, firm supervisors discovered an e-mail message from the customer containing language indicating that the representative may have engaged in unauthorized discretionary trading.”

Three Customer Disputes Filed Against Robert Abramowitz

December 13, 2018 | Silver Law Group

Robert Abramowitz (CRD #4437589) is a currently registered broker and investment advisor employed with National Securities Corporation (CRD #7569) of Melville, NY. Previous employers include Oppenheimer & Co. Inc. (CRD #249) of Jericho, NY, Raymond James Financial Services, Inc. (CRD #6694) of Garden City, NY, and Wells Fargo Advisors, LLC (CRD #19616) of Great Neck, NY. He has been in the industry since 2001.

FINRA Reports Brokers Nas Adel Allan and Gregory Anastos Made Unsuitable Recommendations on elderfinancialfraudattorneys.com Abramowitz has three disclosures in his record, all customer disputes. The most recent, on 7/30/2018, alleges “breach of contract, negligence, unsuitability, breach of fiduciary duty.” The client is requesting damages of $100,000. No additional information is available.

A previous customer dispute was filed on 3/28/2018, alleging that from 7/26/2011 – 4/11/2016, her investment objectives and risk tolerance were incorrectly state on her new account documentation. Additionally, the client alleged that her investments were unsuitable and were “misrepresented to her.” The client requested damages of $149,236.86, and the firm settled for $75,000.

Silver Law Group and the Law Firm of David R. Chase Files a Second FINRA Arbitration Claim Against Independent Financial Group Concerning Selling Away Claims

November 30, 2018 | Silver Law Group

What-Keeps-a-Ponzi-Scheme-Running-300x200 Silver Law Group and The Law Firm of David R. Chase have filed their second FINRA arbitration claim against Independent Financial Group alleging its broker recommended the services of an individual who was running a Ponzi scheme.

According to the securities arbitration complaint, the Claimant’s elderly father became a client of Independent Financial Group and its broker, Jon Pariser (CRD# 2755015), after meeting him at a gathering hosted by a fraternal order both were affiliated with.

In or around June 2017, Pariser informed the Claimant that he was retiring. Pariser then allegedly recommended to Claimant Christopher A. Parris, an individual who had been unlicensed for over a decade, as a trustworthy and skilled professional. According to the Statement of Claim, this fact was not disclosed by either Pariser or Independent Financial Group.

Broker Dominick Diorio Charged With Unauthorized Trading

November 21, 2018 | Silver Law Group

Dominick Joseph Diorio, Jr. (CRD #2447817) is a registered broker currently employed with Aegis Capital Corp. (CRD #15007) of Melville, NY. He was previously employed with Global Arena Capital Corp (CRD #16871) of New York, NY, Prestige Financial Center, Inc. (CRD #30407), also of Melville, and S.W. Bach & Company (CRD #43522), of Port Washington, NY. Five of his previous employers have been expelled by FINRA. He has been in the industry since 1995.

Be on the Lookout: 3 Common Signs of an Investment Scam on elderfinancialfraudattorneys.com Diorio is the subject of four disclosures, the most recent filed on 2/12/2018. In it, the client alleges “unauthorized trading and unsuitable investment recommendations,” and requests damages of $769,690.00. Diorio steadfastly denies the charges. This case is currently pending.

A previous customer dispute filed on 9/29/2017 has similar allegations of an “unsuitable investment strategy” during the period of December 2012 through July of 2017. Diorio also denies the allegations, and explained reasons why the case wasn’t valid including the investment savvy of the customer. On the advice of counsel, Diorio and the firm settled this claim for a total of $837,500.00 instead of risking higher damages and expenses on a hearing and possibly a trial.

Craig Bonn Subject Of Excessive Trading Allegations

November 21, 2018 | Silver Law Group

Craig Aaron Bonn (CRD #2280460) is a currently registered FINRA broker employed with National Securities Corporation (CRD #7569) of New York, NY. He was previously registered with Laidlaw & Company (UK) LTD. (CRD #119037) and Sands Brothers & Co., LTD. (CRD #26816), both also of New York, NY. He has been in the industry since 1993.

FINRA Reports Brokers Nas Adel Allan and Gregory Anastos Made Unsuitable Recommendations on elderfinancialfraudattorneys.com Bonn is currently the subject of a customer dispute filed on 8/29/2018 that alleges unsuitability and excessive trading from 2008 through 2016. The client has requested damages of $228,128.47. Bonn denies the claims of wrongdoing made in this dispute.

Previously, Bonn was accused of making “unsuitable recommendations” for a client from 2006 through 2012 in a dispute filed on 1/17/2014. The client requested $800,000 in damages, and the firm settled for $325,000. Bonn was “dismissed and discharged” from this case, and the company settled without any input or contribution from him.