Securities Arbitration Lawyers Blog

FINRA Suspends Individuals in March 2016 for Failing to Comply with FINRA Rules

March 30, 2016 | Silver Law Group

According to FINRA Disciplinary actions for March 2016, 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
Woodley Hannon Bagwell, Jr.	Raymond James & Associates, Inc.
	Morgan Keegan & Company, Inc.
Steven Lloyd Colvin	Wells Fargo Advisors, LLC
	Merrill Lynch, Pierce, Fenner & Smith Inc.
William Braden Crumrine III	American Portfolios Financial Services, Inc.
	Mid Atlantic Capital Corporation
Robert Gail Dull	Securities America, Inc.
	Suntrust Investment Services, Inc.
William Lawrence Eisner	Ameriprise Financial Services, Inc.
	UBS Financial Services, Inc.
John Scot Galinsky	Fintegra, LLC
	Advanced Equities, Inc.
Christos Angelo Kalatoudis	Worden Capital Management LLC
	National Securities Corporation
John Gerald Muir IV	Aegis Capital Corp.
	Chelsea Financial Services
Patrick Steven Nelson	Steven L. Falk & Associates, Inc.
	White Pacific Securities, Inc.
Michael Luciano Spinali	Morgan Stanley
	Edward Jones
Henry Edward Wasserman III	Ameriprise Financial Services, Inc.
	Morgan Stanley Smith Barney
Jeffrey Lee Whitaker	Capital Wealth Planning, LLC
	Wells Fargo Advisors, 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 Suspends Registered Individuals for Violations of FINRA Rules in March 2016

March 30, 2016 | Silver Law Group

According to FINRA Disciplinary actions for March 2016, 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
Randy Lamar Alford	Southeast Investments, N.C. Inc.
Randy Lamar Alford	Saxony Securities, Inc.
Kamran Azim	The Huntington Investment Company
Kenneth Martin Dlouhy	Catone Research Inc.
Kenneth Martin Dlouhy	Aegis Capital Corp.
Wensi Guzman	Transamerica Financial Advisors, Inc.
Wensi Guzman	World Group Securities, Inc.
Michael Winston Hefner	FBL Marketing Services, LLC
Michael Winston Hefner	Equitrust Marketing Serv LLC
Kristal Lee Johnson	Fifth Third Securities, Inc.
Kristal Lee Johnson	State Farm VP Management Corp.
Elizabeth Ann Monge	Lincoln Financial Advisors Corp.
Elizabeth Ann Monge	Valic Financial Advisors, Inc.
Kayla Arlene Paul-Lindsey	Park Avenue Securities LLC
Kayla Arlene Paul-Lindsey	MML Investors Services, LLC
Carmie Lynn Shifflett	Citigroup Global Markets Inc.
Carmie Lynn Shifflett	Citicorp Investment Services
Renate Barbel Sterrett	LPL Financial LLC
Renate Barbel Sterrett	Investacorp, Inc.
Vladimir Tingue	Scottrade, Inc.
Vladimir Tingue	J.P. Morgan Securities LLC
Valinda Kay Turner
Kenya Julissa Zavala	J.P. Morgan Securities LLC
Kenya Julissa Zavala	Chase Investment Services 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 Bars Registered Individuals in March 2016 for Failure to Comply with FINRA Rules

March 30, 2016 | Silver Law Group

According to FINRA Disciplinary actions for March 2016, 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
Raymond Francis Aleksey	Wells Fargo Advisors, LLC
Raymond Francis Aleksey	Merrill Lynch, Pierce, Fenner & Smith, Inc.
Tiffany Dawn Bee
Toby Blackwood	PFS Investments Inc.
Toby Blackwood	Primerica Financial Services
Angela K. Blaylock	Merrill Lynch, Pierce, Fenner & Smith Inc.
Benjamin Jon Brown	State Farm VP Management Corp.
Benjamin Jon Brown	American Express Financial Advisors, Inc.
Thomas Anthony Cammarano	LPL Financial LLC
Thomas Anthony Cammarano	Associated Securities Corp.
Brian Andrew Dunn	Robert W. Baird & Co. Inc
Brian Andrew Dunn	Citigroup Global Markets, Inc.
Susan Ann Ericson	UBS Financial Services, Inc.
Jose L. Espinoza	J.P. Morgan Securities LLC
Jose L. Espinoza	Chase Investment Services Corp
Craig Steven Ferraro	J.P. Morgan Securities LLC
Craig Steven Ferraro	Chase Investment Services Corp
Michael W. Finn	Merrill Lynch, Pierce, Fenner & Smith, Inc
Robert Joseph Gray	Allstate Financial Services, LLC
Kyle Brockman Greene	J.P. Morgan Securities LLC
Larry Phillip Harvey, Jr.	J.P. Morgan Securities LLC
Larry Phillip Harvey, Jr.	Chase Investment Services Corp
Christopher Hermiz	J.P. Morgan Securities LLC
Andy Edgar Hernandez	J.P. Morgan Securities LLC
Andy Edgar Hernandez	Chase Investment Services Corp
Steve Everett Hinrichs	State Farm VP Management Corp.
Richard Allen Isgrig	Northwestern Mutual Investment Services, LLC
Richard Allen Isgrig	Robert W. Baird & Co. Inc.
Brian Grayson Kidder	High Point Capital Group, Inc.
Brian Grayson Kidder	Delaney Equity Group, Inc.
Matthew Lawrence Lalonde	Buckman, Buckman & Reid, Inc.
Matthew Lawrence Lalonde	LPL Financial LLC
Kathleen Mary Loney	LPL Financial LLC
Kathleen Mary Loney	Mutual Service Corporation
James Joseph McCarron III	J.P. Turner & Company, LLC
James Joseph McCarron III	QA3 Financial Corp.
Brett James McCollough	Hancock Investment Services, Inc.
Brett James McCollough	Multi-Financial Securities Corp
Marco A. Mendoza	J.P. Morgan Securities LLC
Marco A. Mendoza	Chase Investment Services Corp
Vincent Joseph Menello, Jr.
Jason Scott Miller	J.P. Morgan Securities LLC
Jason Scott Miller	Chase Investment Services Corp
Darlene Byrd Page	Morgan Stanley
Darlene Byrd Page	UVest Financial Services Group, Ic.
Christopher A. Parris	Nationwide Securities, Inc.
Christopher A. Parris	The Lucian Group
Benjamin John Pritchett	Wells Fargo Advisors, LLC
Benjamin John Pritchett	Investors Capital Corp.
Francis Anthony Jason Punsalan	J.P. Morgan Securities LLC
Ebony C. Ranson
Toni Leynett Robertson	Caprock Securities, Inc.
Toni Leynett Robertson	Investment Professionals, Inc.
Marguerite A. Sanders	J.P. Morgan Securities LLC
Marguerite A. Sanders	Chase Investment Services Corp
John Larry Simpson	Princor Financial Services Corp
John Larry Simpson	Avalon Investment & Securities Group, Inc.
Robert Jay Snider	Thrivent Investment Management Inc.
Leonard Toth	Pruco Securities, LLC
Edward Francis Vincent	LPL Financial LLC
Edward Francis Vincent	UBS Financial Services Inc.
Jean Ann Walsh-Josephson	Thrivent Investment Mangement Inc.
Robin Michelle Wolfgram	Cetera Advisors LLC
Robin Michelle Wolfgram	Foothill Securities, Inc.
Jamie Reid Zimmerman

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.

SEC Charges Mark A. Jones with Operating $10 Million Ponzi Scheme that Claimed to Offer Loans to Jamaican Businesses

March 28, 2016 | Silver Law Group

The U.S. Securities and Exchange Commission (SEC) has charged former Boston resident, and current Miami resident, Mark A. Jones with operating a $10 million Ponzi scheme that claimed to generate profits from “bridge loans” to Jamaican businesses.

According to the SEC’s Complaint — filed earlier this month in federal court in Boston — Mr. Jones began soliciting investors in 2007 and said their money would be pooled and used for “bridge loans” to Jamaican businesses awaiting funds from approved commercial bank loans. Mr. Jones purportedly told the investors that the loans would generate approximately 15 to 20 percent interest each year. He appeared in YouTube videos promoting investment opportunities in Jamaica and even met with some investors in Jamaica to show them local projects in which their funds were purportedly invested. Contrary to those representations, though, the SEC alleges that Mr. Jones was actually using investors’ money to pay other investors — the hallmark of a Ponzi scheme. In addition, Mr. Jones is alleged to have used some of the invested funds for his own personal use. In all, Mr. Jones raised about $10 million from at least 21 investors in several states and Washington, D.C., including some of his own relatives. Targeting investors from the same community or religious group is generally referred to as affinity fraud.

The SEC has obtained a Court order freezing Mr. Jones’ assets and an order to repatriate investor funds that were moved overseas. In addition, the SEC is seeking a permanent injunction, return of allegedly ill-gotten gains with interest, and other monetary penalties. Mr. Jones is also being criminally prosecuted by the U.S. Attorney for the District of Massachusetts for his actions.

SEC Halts Fraud by New Jersey-Based Fund Manager of Investments in Pre-IPO Tech Companies

March 28, 2016 | Silver Law Group

The Securities and Exchange Commission announced fraud charges and asset freezes obtained in a case filed on March 21, 2016 against a New Jersey-based fund manager and two firms he controls for orchestrating a Ponzi-like scheme that marketed shares in promising pre-IPO technology companies in the Bay Area.

The SEC alleges in its complaint that John Bivona raised over $53 million through Saddle River Advisors and SRA Management Associates (collectively, the “SRA Funds”) and used the assets to pay off earlier investors, establish and fortify other funds, and pay family-related expenses. The complaint also alleges that Bivona stole over $5.7 million from investors and diverted millions more to other improper and undisclosed uses.

According to the complaint, much of the funds were diverted to Bivona’s nephew, Frank Mazzola, who was barred from the securities industry in a prior SEC enforcement action and is also charged in the complaint. The diverted funds were used to pay, among other things, credit card bills, income taxes, a car loan, unrelated defense attorney fees, and the mortgage on a Jersey Shore vacation home, according to the complaint.

Investor Beware: Does Your Broker Have Access to Your Online Trading Account?

March 22, 2016 | Silver Law Group

Investor Beware: Does Your Broker Have Access to Your Online Trading Account? on silverlaw.com

California broker, Angelo Talebi, finds himself in hot water with his firm and FINRA, as well as his clients.

Does your broker have your username and password for your online trading account? If so, does his current employer know that he does? If not, it could spell trouble for everyone involved.

Take into account Royal Alliance Associated, Inc. broker Angel Talebi out of California according to FINRA records, or about December 2013, Talebi’s customer from Royal Alliance Associates, Inc. moved his accounts with Royal to another FINRA member firm that provided online trading. Without informing Royal, Talebi used the customer’s login credentials to execute transactions through the customer’s other FINRA member firm.

LPL Financial Broker Eugene Smietana Discharged from Firm and Permanently Barred by FINRA

March 21, 2016 | Silver Law Group

LPL Financial Broker Eugene Smietana Discharged from Firm and Permanently Barred by FINRA on silverlaw.com

Have you invested funds with Eugene Smietana?

For investors who may have utilized the services of LPL Financial LLC broker Eugene Smietana out of Traverse City, Michigan, may have potential claims against LLP.

As of September 2015, FINRA has permanently barred Smietana from acting as a broker or otherwise associating with firms that sell securities to the public.

Broker Russell Macke Banned by FINRA After Multiple Complaints, FINRA Actions, and Terminations

March 18, 2016 | Silver Law Group

Broker Russell Macke Banned by FINRA After Multiple Complaints, FINRA Actions, and Terminations on silverlaw.com

Churning, unsuitable investments misconduct and elder fraud among allegations that ended Macke’s career

In October 2015, the Financial Industry Regulatory Authority (FINRA) permanently banned Russell Macke from acting as a broker and from associating with any securities firms. This decision comes after numerous customer complaints, regulatory actions, employment terminations, as well as seven judgments or liens against him. Macke has been accused of churning, investment fraud, unsuitable investments as well as several other charges.

Macke has been registered in the securities industry since 1989. He was most recently registered with B.B. Graham & Company of Orange, CA (between 2012-2015). Other recent registrations include:

Morgan Stanley Discharges and FINRA Permanently Bars Broker Samuel Wylie Sloane

March 17, 2016 | Silver Law Group

Morgan Stanley Discharges and FINRA Permanently Bars Broker Samuel Wylie Sloane on silverlaw.com

Broker accused of taking $1.8M in trust assets while serving as a trustee.

Samuel Wylie Sloane’s 15-year career in the securities industry ended abruptly in December 2015 when FINRA permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public.

According to the disciplinary action document in Sloane’s FINRA BrokerCheck record, the broker refused to respond to FINRA’s request for documents and information during an investigation. The investigation was initiated following allegations that Sloane converted a customer’s trust assets while serving as a trustee.

David Levy, of Titus Rockefeller, LLC, Permanently Barred from Broker Activity After Long Career of Suspicious Activity

March 17, 2016 | Silver Law Group

David Levy, of Titus Rockefeller, LLC, Permanently Barred from Broker Activity After Long Career of Suspicious Activity on silverlaw.com

Financial broker finally barred from FINRA activity after decades of questionable behavior.

After a career plagued by multiple and repeated allegations of breaches of fiduciary duty and unauthorized trading dating back to 1994, David Levy has been permanently barred by FINRA for acting as a broker in any capacity. These final sanctions come as a result of failure to provide FINRA required information; specifically, he did not request termination of his most recent suspension within three months of the date of the suspension. He was permanently barred from all broker activities, effective September 29, 2015.

FINRA’s final action against Levy comes after more than 20 years of serious allegations against him, including churning, misrepresentation, and breach of fiduciary duty. Multiple client disputes total nearly $2 million, however, many of the companies he was affiliated with at the time of the specific allegations settled with clients for much less.