Securities Arbitration Lawyers Blog

Silver Law Group Investigates Garden State Securities, Inc. Broker Jason Eric Zwibel for Potential Securities Violations

February 7, 2018 | Silver Law Group

Silver Law Group is investigating claims against Garden State Securities, Inc. (“Garden State”) broker Jason E. Zwibel (“Zwibel”) for possible unsuitable investment recommendations. Zwibel is currently employed by the Garden State office located in Wellington, Florida.

A recent customer dispute filed with the Financial Industry Regulatory Authority (“FINRA”) against Zwibel alleges damages of $2,670,750.00 for unsuitable investments, negligence, and breach of fiduciary duty.

Registered brokers like Jason Zwibel are regulated by federal securities laws and FINRA rules and standards. The suitability of a particular investment is governed by FINRA Rules and require a broker to have “a reasonable basis to believe a recommended transaction or investment strategy involving a security or securities is suitable” based upon the investment profile of the customer meaning specifically: the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance.

Silver Law Group is Investigating Claims Against Former Legend Equities Corp. Broker Walter J. Marino for Alleged Unsuitable Recommendations and Charging Excessive Commissions in Customer Accounts

February 7, 2018 | Silver Law Group

Silver Law Group is investigating former Legend Equities Corp. (“Legend”) broker Walter Joseph Marino (“Marino”) for allegations of unsuitable recommendations and charging excessive commissions and fees in customer accounts. Marino was employed by Legend’s Palm Beach Gardens, Florida office prior to his termination in July 2015.

The Financial Industry Regulatory Authority (“FINRA”) suspended Marino on 10/16/2017 for a 1-year period ending 10/15/2018 after Marino, without admitting or denying the findings, consented to FINRA’s findings that he had recommended unsuitable exchanges of variable annuity products to two customers without having a reasonable basis for recommending the transactions while at Legend Equities Corp. The transactions were found to benefit Marino and caused substantial harm to the customers.

In addition, in order to evade supervision, the complaint alleged that Marino lied to Legend about the source of the money used to purchase the new annuity. Instead of stating the new annuity was replacing another annuity, Marino stated on company documents that the purchases were paid for with a check.

Three Individuals Charged by the SEC for Defrauding Elderly Clients

February 6, 2018 | Silver Law Group

Allegations include the misappropriation of more than $2.6 million, much of it through a penny stock scheme

Elder financial fraud continues to be a serious problem in the U.S., but the Securities and Exchange Commission (SEC) is making attempts to protect senior investors. One way the agency is doing this is by increasing penalties for repeat offenders.

Recently, the SEC charged Joseph A. Rubbo and Angela Beckcom Rubbo Monaco of Coral Springs, FL, with defrauding 11 investors, most of whom were elderly. Their penny stock scheme involved getting people to invest in Rubbo and Monaco’s entertainment company called “VIP,” as well as the Spongebuddy, a sponge/glove cleaning product.

TD Ameritrade and Sheaff Brock Investment Advisors, LLC

February 6, 2018 | Silver Law Group

Contact Us If You Have Lost Money Investing with Sheaff Brock Investment Advisors, LLC

Silver Law Group is investigating potential FINRA arbitration claims against TD Ameritrade on behalf of investors who suffered investment losses with Sheaff Brock in stock options as a result of investments managed by Sheaff Brock.

A class action alleges TD Ameritrade customers utilized the investment advisory services of Sheaff Brock through TD Ameritrade’s AdvisorDirect program and suffered significant losses in a risky put income options strategy.

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

February 6, 2018 | Silver Law Group

According to FINRA Disciplinary actions for January 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
Jesse Baker	Merrill Lynch, Pierce, Fenner & Smith Inc.
Joseph Ryan Costa	Farmers Financial Solutions, LLC
Ethan Frederick Daubert	Wells Fargo Clearing Services, LLC
Deborah Ann Day	Triad Advisors, Inc.
Deborah Ann Day	Royal Hutton Securities Corp.
Matthew Evan Eckstein	Sisk Investments Services, Inc.
Matthew Evan Eckstein	Gould, Ambroson & Associates
Colleen Elizabeth Flanagan	Fidelity Brokerage Services LLC
Roy Aurelio Gaytan	Transamerica Financial Advisors, Inc.
Roy Aurelio Gaytan	World Group Securities, Inc.
Marques Alexander Green	NYLife Securities LLC
Marques Alexander Green	MetLife Securities, Inc.
R. Barry Jones	Merrill Lynch, Pierce, Fenner & Smith Inc.
R. Barry Jones	Banc of America Investment Services, Inc.
Atiq Urrehman Khan	Transamerica Financial Advisors, Inc.
Atiq Urrehman Khan	World Group Securities, Inc.
Deanne M. Lampe	Morgan Stanley
Deanne M. Lampe	Citigroup Global Markets Inc.
Veronica Azucena Lopez	Wells Fargo Advisors, LLC
Veronica Azucena Lopez	Morgan Stanley
Scott Alexander Markle	HD Vest Investment Services
Scott Alexander Markle	LPL Financial LLC
Oscar Nunez	J.H. Darbie & Co., Inc.
Oscar Nunez	Blackbook Capital, LLC
Jay Anthony Pandy-Tatum	Charles Schwab & Co., Inc.
Jay Anthony Pandy-Tatum	JP Morgan Chase
Jarrett Powell
Ciro Santoro	Allstate Financial Services, L LC
Ciro Santoro	Equity Services, Inc.
Daniel Richard Shaw	T. Rowe Price Investment Services, Inc.
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.

January 2018 FINRA Disciplinary Actions Name Registered Individuals Suspended for Failing to Comply with FINRA Rules

February 6, 2018 | Silver Law Group

According to FINRA Disciplinary actions for January 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
Timothy Clark Bryant	Ameriprise Financial Services, Inc.
Timothy Clark Bryant	Wells Fargo Advisors, LLC
Philip Orezio Fatta	Spartan Capital Securities, LLC
Philip Orezio Fatta	Blackbook Capital, LLC
Lee Allen Jenkins Jr.	Triad Advisors, Inc.
Lee Allen Jenkins Jr.	Wachovia Securities Financial Network, LLC
Rick Douglas Konecny	National Securities Corporation
Rick Douglas Konecny	J.P. Morgan Securities LLC
Michael James McGraw	Morgan Stanley
Michael James McGraw	Wells Fargo Advisors, LLC
Robert A. Perconte	Summit Brokerage Services, Inc.
Robert A. Perconte	Ameriprise Financial Services, Inc.
Philip Anthony Pizelo	Pacific West Securities, Inc.
Philip Anthony Pizelo	Great Northern Financial Securities, Inc.
Michael Luciano Spinali	Morgan Stanley
Michael Luciano Spinali	Edward Jones
Kevin Wayne Taylor	Ameriprise Financial Services, Inc.
Kevin Wayne Taylor	Oppenheimer & Co. Inc.
Gary Mark Zwetchkenbaum	Gilford Securities Incorporated

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 Registered Individuals in January 2018 for Violations of FINRA Rules

February 6, 2018 | Silver Law Group

According to FINRA Disciplinary actions for January 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:

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.

NAME	FORMER EMPLOYERS
Donald C. Blackwell	Carlton & Associates, Inc.
Donald C. Blackwell	J.P. Turner & Company, LLC
Wayne Earl Cooksey
Adham Shafik Khalil	Allstate Financial Services, LLC
Suhail Saleem Khan	LPL Financial LLC
Suhail Saleem Khan	Kingsview Asset Management LLC
Rick Douglas Konecny	National Securities Corporation
Rick Douglas Konecny	J.P. Morgan Securities LLC
Spencer David Laufer	J.H. Darbie & Co., Inc.
Spencer David Laufer	Joseph Stone Capital LLC
Caeron Arlington McClintock	Spartan Capital Securities, LLC
Caeron Arlington McClintock	Legend Securities, Inc.
Stanley Calvin Pigue	Edward Jones
Jordan Charles Rodden	LPL Financial LLC
Jordan Charles Rodden	Raymond James & Associates, Inc.
Jessica Rene Sewell
Amus Desmond Stevens	J.P. Morgan Securities LLC
Amus Desmond Stevens	Wells Fargo Advisors, LLVC
Anaida Tashchyan	J.P. Morgan Securities LLC
Anaida Tashchyan	WM Financial Services, Inc.
David Arthur Wismer III	LPL Financial LLC
David Arthur Wismer III	American Express Financial Advisors 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.

Silver Law Group Announces Filing of FINRA Arbitration Claim on Behalf of Customers of Stifel, Nicolaus & Company, Inc.

February 5, 2018 | Silver Law Group

Silver Law Group is investigating claims against Stifel, Nicolaus & Company, Inc. for the sale of unsuitable investments.

Silver Law Group has filed a securities arbitration claim against Stifel, Nicolaus & Company, Inc. (“Stifel”) alleging the customers suffered significant losses due to unsuitable investments and misrepresentation of fees and commissions. The allegations include unsuitable investments, breach of fiduciary duty, negligence, breach of contract and failure to supervise.

Stifel’s broker allegedly recommended unsuitable investments to conservative retired customers. The investment recommendations included concentrating the accounts in below investment-grade corporate bonds and Puerto Rico bonds. The broker would regularly make the recommendation to sell one bond to purchase another bond with a higher coupon without explaining to the customers that the higher coupon carried higher risk.

Silver Law Group is Investigating Claims Against former Stifel, Nicolaus & Company, Inc. Broker Coleman J. Devlin for Unauthorized Trading in Customer Accounts

February 5, 2018 | Silver Law Group

Silver Law Group is investigating former Stifel, Nicolaus & Company, Inc. (“Stifel Nicolaus”) broker Coleman Joseph Devlin (“Devlin”) for allegations of executing trades in customer accounts without first obtaining authorization from the customers. Devlin was employed by Stifel Nicolaus’ Baltimore, Maryland office prior to his termination in June 2016.

The Financial Industry Regulatory Authority (“FINRA”) suspended Devlin on 11/6/2017 for a 30 day period ending 12/18/2017 after Devlin, without admitting or denying the findings, consented to FINRA’s findings that he had executed trades in 5 customer accounts without their prior authorization while at Stifel Nicolaus.

Devlin has been the subject of 14 customer disputes of which 2 are currently still pending. The disputes include allegations of unsuitable investments, unauthorized trading, over-concentration of the accounts, breach of fiduciary duty, and negligent supervision. Stifel Nicolaus terminated Devlin’s employment in June 2016 in connection with the customer complaints. A recently filed FINRA arbitration claim is seeking $20,000,000.00 alleging Stifel Nicolaus negligently supervised Devlin.

SEC Accuses Daniel Vazquez of Running $2 Million Real Estate Investment Fraud

February 5, 2018 | Silver Law Group

Silver Law Group represents many of Mr. Vazquez investors.

The Securities and Exchange Commission is charging Daniel Vazquez and Gilbert Fluetsch of running a home flipping scam that defrauded dozens of investors out of their retirement savings. Vazquez was a registered stockbroker with Cetera Advisors and Investors Capital Corp. from 2011-2015.

According to the SEC, Daniel Vazquez serves as the CEO of Hoplon Financial Group. Through Hoplon, Vazquez created the “New Economic Opportunities Fund,” an entity that purported to buy and flip residential real estate using investor funds.