A National Securities Arbitration & Investment Fraud Law Firm
Frequently, investment and securities fraud cases are only limited by Wall Street’s ability to find new and creative ways to abuse investors.
This type of fraud arises out of allegations that losses are due to misconduct or causes unrelated to market forces and is governed by the Securities Exchange Commission, also known as the SEC.
Attorney Scott Silver, of the Silver Law Group says:
There are many different types of investment and securities fraud scams designed to bilk investors out of millions of dollars. Sometimes even billions.
As was the case of one of the world’s most famous Ponzi schemers, Bernie Madoff, who is spending the rest of his life in prison.
Attorney Scott Silver, of the Silver Law Group says:
The SEC has strict rules about how a broker-dealer operates, runs their business and keeps records. Any variation from these rules can trigger a sanction or other regulatory process. Centaurus Financial has been the subject of multiple sanctions for various infractions and disputes filed by customers. For these regulatory sanctions, the company has paid over half a million dollars in penalties, fines and fees over the years. In some cases, there were no financial products involved or sold, only regulatory violations.
Centaurus has paid out over three million dollars in securities arbitration awards and judgments.
Attorney Scott Silver, of the Silver Law Group says:
On October 9, 2018, Scott Silver lectured at the University of Miami School of Law Securities Arbitration Clinic. The clinic was initially funded by FINRA and serves an important public service helping many small investors pursue their claims while teaching the next generation of lawyers.
Scott Silver has been actively representing investors in claims for over twenty years and is a graduate of Miami Law School, Class of ’96. Scott spoke about the FINRA discovery process, the importance of pre-filing discovery and shared stories of previous experiences including a recent case for a woman named Flossie whose financial advisor tried to make himself a beneficiary of her estate. Scott highlighted how many cases revolve around issues of elder financial fraud or abuse.
Scott also enjoyed some time on campus and meeting 80’s movie star, Christian Slater, who was helping register students to vote.
According to FINRA Disciplinary actions for October 2018, the following individuals were suspended from FINRA for failing to comply with a FINRA arbitration award or settlement agreement pursuant to FINRA rules:
|
NAME |
FORMER EMPLOYERS |
| Jason Beem | Morgan Stanley |
| UBS Financial Services Inc | |
| Stephen Grivas | Blackbook Capital LLC |
| Obsidian Financial Group LLC | |
| Eric Negron | LPL Financial LLC |
| Ameriprise Financial Services, Inc | |
| Garry Savage Jr. | Wallstreet Strategies, Inx |
| Securities America, Inc | |
| Gary Savage Sr. | Wall Street Strategies, Inc |
| Securities America, Inc | |
| Mark Vanaelst | Morgan Stanley |
| Robert W. Baird & Co | |
| Aaron Willbanks | Willbanks Securities, Inc |
| Birchtree Financial Services, Inc. |
Silver Law Group represents investors in securities and investment fraud cases through FINRA arbitration or court. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide in securities arbitration to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Our lawyers have extensive experience collecting FINRA arbitration awards, prevailing on Motions to Vacate FINRA arbitration awards and using various collection efforts to enforce FINRA awards after they are received.
According to FINRA Disciplinary actions for October 2018, the following individuals were barred from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules:
|
NAME |
FORMER EMPLOYERS |
| Lindsey Brown | |
| William Downing | Coastal Equities, Inc |
| J. W. Cole Financial, Inc | |
| Keven Gayle | NYLife Securities LLC |
| Jose Giraldo | Merrill Lynch, Pierce, Fenner & Smith Inc |
| Bank of America NA | |
| Cristhelle Medina | J.P. Morgan Securities LLC |
| Well Fargo Advisors, LLC | |
| Stephen Murray | Raymond James & Associates, Inc |
| Morgan Keegan & Company, Inc | |
| Ivan Reyes | Alexander Capital, L.P. |
| Craft Capital Management LLC | |
| David Rodgers | Allstate Financial Services, LLC |
| Rodgers Capital Management | |
| Michael Sekusky | |
| Jimmy Tran | J.P. Morgan Securities LLC |
| Wells Fargo Advisors, LLC | |
| Anthony Valois | PHX Financial, Inc |
| Meyers Associates, L.P. |
FINRA makes this information available, in part, to inform investors about potential red flags or problems with certain stockbrokers. If you invested with anyone in this report and have questions about your legal rights, our attorneys will talk with you at no cost to explain your legal rights and about how we can help recover your investment losses through securities arbitration or litigation.
Silver Law Group represents investors in securities and investment fraud cases through FINRA arbitration or court. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide in securities arbitration to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
According to FINRA Disciplinary actions for October 2018, the following individuals were suspended from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules:
|
NAME |
FORMER EMPLOYERS |
| Gregory Adamo | Allstate Financial Services, LLC |
| National Securities Corporation | |
| Ricardo Bustamante | J.P. Morgan Securities LLC |
| Bustamante Family Legacy LLC | |
| Daniel Flores | Woodbury Financial Services, Inc |
| Princor Financial Services Corporation | |
| Jose Giraldo | Merrill Lynch, Pierce, Fenner & Smith Inc |
| David Lerner Associates, Inc | |
| Joshua Krize | Wells Fargo Clearing Services, LLC |
| Country Capital Management Company | |
| Francine Lanaia | Windsor Street Capital, LP |
| Meyers Associates LP | |
| Scott Miozzi | NYLife Securities LLC |
| Daniel Moore | |
| Scott Newbanks | KMS Financial Services, Inc |
| United Planners’ Financial Services of America | |
| Yousuf Saljooki | Worden Capital Management LLC |
| Salomon Whitney Financial | |
| Jameson Shin | LPL Financial LLC |
| Wells Fargo Advisors LLC | |
| Margaret Sterr | M Holding Securities, INC |
| Catalyst Solutions Group, Inc | |
| Francisco Valenzuela | Morgan Stanely |
| Merrill Lynch, Pierce, Fenner & Smith Inc | |
| Bryce Vance | Farmers Financial Solutions, LLC |
| Jackie Wadsworth | IMS Securities Inc |
| Retirement Investment Group | |
| Stephen Williams | LPL Financial LLC |
| Edward Jones | |
| Eric Zimmer | LPL Financial LLC |
| Edward Jones |
Silver Law Group represents investors in securities and investment fraud cases through FINRA arbitration or court. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide in securities arbitration to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Real estate investment trust, Parking REIT, which owns parking lots unveiled a $100 million initial public offering Tuesday as the company looks to pay off debts and expand an existing network of parking facilities across the U.S.
In a SEC filing with the U.S. Securities and Exchange Commission, Parking REIT set a $100 million maximum aggregate offering price. However, that $100 million figure may be a placeholder frequently used on initial IPO filings. Moreover, it is unclear whether investors will be able to sell their funds at or near their cost basis.
The Parking REIT is managed by Nevada-based The Parking REIT Advisors. The company invests in parking lots, garages and other structures in the U.S. Parking REIT said its primary use for the funds raised in the IPO will be the repayment of $9.1 million in debt, in addition to general corporate purposes, working capital and the acquisition of additional parking locations.
Silver Law Group has filed a FINRA arbitration claim against Portfolio Advisors Alliance, LLC after its brokers excessively traded (churned) the Claimant’s account.
The securities arbitration claim alleges the Claimant met his initial Portfolio Advisors Alliance broker in 2013 at another brokerage firm: FINRA-barred firm John Thomas Financial. The Claimant initially opened his accounts with a modest sum of money and gave the broker a chance to make money for him as he promised. The broker proceeded to convince the Claimant to utilize margin in order to increase his profits, according to the FINRA arbitration claim, and deposit additional funds to satisfy margin calls.
Unfortunately for Claimant, the broker allegedly proceeded to churn the account, repeatedly buying and selling four (4) different stocks, including several high-risk and speculative pharmaceutical investments. When the broker resigned, another broker took over the accounts without the Claimant’s knowledge and proceeded with the same “investment strategy” of making unauthorized transactions and churning the account, according to the securities arbitration claim.
Silver Law Group is investigating former Greenville, South Carolina-based broker James T. Flynn (CRD# 3082615) after FINRA permanently barred the broker.
According to Flynn’s FINRA BrokerCheck report, FINRA permanently barred Flynn in June 2018 after he failed to respond to a FINRA inquiry. The FINRA bar follows approximately 17 disclosures on Flynn’s FINRA BrokerCheck report and two employment terminations within one year.
Securities Arbitration Lawyers Blog