Securities Arbitration Lawyers Blog

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.

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

Former Cuna Brokerage Services Broker Stacy Cheney-Jamison Under Investigation After Customer Files Investment Fraud Claim

May 7, 2018 | Silver Law Group

Silver Law Group is investigating former Cuna Brokerage Services broker Stacy E. Cheney-Jamison after a customer filed an investment fraud claim against the brokerage firm.

In March 2018, a customer filed an arbitration complaint against Cuna Brokerage Services (“Cuna”) in Georgia. The customer complaint alleges several counts of wrongdoing, including breach of fiduciary duty and breach of contract, unauthorized transactions, violation of the Georgia RICO Act, and violations of the Georgia Securities Act. The complaint alleges $350,000 in damages.

The FINRA arbitration claim also alleges Cheney-Jamison used her relationship with the IBM Southeastern Employees Credit Union (“IBM”) in Cobb County, Georgia to solicit investors.

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