Securities Arbitration Lawyers Blog

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

MVP REIT/The Parking REIT Losses

May 8, 2018 | Silver Law Group

The Parking REIT recently announced that the board unanimously approved the suspension of all cash distributions and stock dividends, effective March 22, 2018. Their press release states, ”The Board is focused on preserving capital in order to maintain sufficient liquidity to continue to operate the business and maintain compliance with debt covenants, including minimum liquidity covenants…”

Additionally, it has notified the SEC that the company will not be able to make its 10-K filling on time.

This company, the product of a recent merger between two REITs, (real estate investment trust) is a publicly registered, non-traded entity that focuses on a specific type of real estate. In this case, the focus is parking lots and parking-related facilities. The merger between MVP REIT and MVP REIT II was finalized in late 2017. The company is now known as “The Parking REIT,” and is based in Las Vegas, NV. (A REIT is required to pay out 90% of its income in order to avoid corporate income tax.)The company has a portfolio with 44 parking facilities across 15 states.

Individuals Suspended by FINRA in April 2018 for Failing to Comply with FINRA Rules

May 8, 2018 | Silver Law Group

According to FINRA Disciplinary actions for April 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
Robert Thomas Anderson	Wells Fargo Advisors, LLC
Robert Thomas Anderson	UBS Financial Services Inc
Li-Lin Hsu	Ameriprise Financial Services
Li-Lin Hsu	Transglobal Advisory, LLC
Michael David Lee	Newport Group Securities, Inc.
Michael David Lee	The Leaders Group, Inc.
Jeffrey David Miller	LEK Securities Corporation
Jeffrey David Miller	Mitchell Securities, Inc.
Carlos Antonio Rodriquez	UBS Financial Services Inc
Carlos Antonio Rodriquez	Merrill Lynch, Pierce, Fenner & Smith 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.

FINRA Disciplinary Actions for April 2018 Name Individuals Barred for Failing to Comply with FINRA Rules

May 8, 2018 | Silver Law Group

According to FINRA Disciplinary actions for April 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
Chelsea Lauren Clemons-Denby
Deborah Ann Day	Triad Advisors
Deborah Ann Day	Royal Hutton Securities Corp
Truitt Scott Ficklin	Cetera Investment Services LLC
Truitt Scott Ficklin	Edward Jones
Phillip William Formwalt	Woodmen Financial Services
Kevin Richard Graetz	Paulson Investment Company
Kevin Richard Graetz	Roth Capital Partners, LLC
Lawrence E. Hagedorn	The O.N. Sales Company
Lawrence E. Hagedorn	Securian Financial Services, Inc.
Minish Joe Hede	Paulson Investment Company LLC
Minish Joe Hede	Roth Capital Partners, LLC
Raymond Woody Hooker	J.P. Morgan Securities
Raymond Woody Hooker	Chase Investment Services Corp
Brian Patrick Hurley	MML Investors Services, LLC
Brian Patrick Hurley	NYLife Securities
Lindsey Marie Katula	Wells Fargo Clearing Services, LLC
Lindsey Marie Katula	Wells Fargo Advisors, LLC
Jason Harris Klabal	Alexander Capital, L.P.
Jason Harris Klabal	Legend Securities, Inc.
Richard James Murphy	Tullett Prebon Financial Services LLC
Richard James Murphy	Citation Financial Group, L.P.
Michael Alan Sadouskas	Allstate Financial Services, LLC
John Joseph Silvernale	HD Vest Investment Services
Casey Tyler Thompson	Allstate Financial Services, LLC
Casey Tyler Thompson	Northwestern Mutual Investment Services, LLC
Sara Wilhite	PFS Investments Inc.
Sara Wilhite	Primerica Financial Services
Brandon M. Williams	BMO Harris Financial Advisors, Inc.
Brandon M. Williams	Northwestern Mutual Investment Services, LLC
Larry Charles Wolfe	Stoever, Glass & Company Inc.
Larry Charles Wolfe	Aegis Capital Corp.

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.

FINRA Suspends Registered Individuals in April 2018 for Violations of FINRA Rules

May 8, 2018 | Silver Law Group

According to FINRA Disciplinary actions for April 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
Donald Nelson Bower III	Invest Financial Corporation
Donald Nelson Bower III	Edward Jones
Xavier Dwight Clinton	J. P. Morgan Securities LLC
Geoffrey Bret Davidson	Fidelity Brokerage Services LLC
James Benjamin Farris	Merrill Lynch, Pierce, Fenner & Smith Inc.
James Benjamin Farris	UBS Financial Services Inc.
Miguel Eduardo Guzman	J.P. Morgan Securities LLC
Miguel Eduardo Guzman	MA Investments Corp
Melanie Haning	UBS Financial Services Inc.
Melanie Haning	Merrill Lynch, Pierce, Fenner & Smith Inc.
Mark Anthony Hernandez	UBS Financial Services Inc.
Mark Anthony Hernandez	Morgan Stanley
Ashley Marie Hostetter
Shawn I Houslin	Merrill Lynch, Pierce, Fenner & Smith Inc.
Spencer Joseph Lassetter	Fidelity Brokerage Services LLC
Abed William Lulu	Worden Capital Management LLC
Abed William Lulu	Rockwell Global Capital LLC
Gurdev Singh Mann	NYLife Securities LLC
Michael D. McKenny	Country Capital Management Company
Michael D. McKenny	Metlife Securities Inc.
Andrea Marie Milinkovic	PNC Investments
Andrea Marie Milinkovic	Suntrust Investment Services, Inc.
Ryan Michael Murnane	Alexander Capital, LP
Ryan Michael Murnane	Woodstock Financial Group. Inc
Christopher Quocthai Nguyen	TD Ameritrade, Inc
Albert John Papada	Horace Mann Investors, Inc.
Zachary T Rawson	Merrill Lynch, Pierce, Fenner & Smith Inc.
Tyler V. Schultz	MML Investors Services, LLC
Tyler V. Schultz	Metlife Securities, Inc.
Brett Michael Williams	NYLife Securities, LLC

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.

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.