Securities Arbitration Lawyers Blog

Dallas Stockbroker Wade Lawrence Gets 3 Years for Securities Fraud Scheme

February 1, 2016 | Silver Law Group

Dallas securities broker Wade Lawrence was given a three-year prison sentence January 20, 2015 by a Texas federal judge after pleading guilty to offering false investments that defrauded his friends and business associates out of more than $1.5 million for his own benefit.

The federal court also ordered Lawrence, 43, to pay $1,542,966 in restitution and forfeit $126,074 in proceeds in light of his August admission to a single charge of securities fraud at the time the criminal indictment was filed.

Beginning in January 2012 and continuing through September 2013, Lawrence engaged in a scheme to defraud to obtain funds from individuals, many of which had longstanding personal and business relationships and trusted him while he was working as a stockbroker at Southwest Securities, now part of Hilltop Securities Inc.

FINRA Suspends Registered Individuals for Failing to Comply with FINRA Rules in January 2016

January 27, 2016 | Silver Law Group

According to FINRA Disciplinary actions for January 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
William Walter Almond	Morgan Stanley
	New England Securities
William Austin Bailey	Next Financial Group, Inc.
	Mutual Service Corporation
Brian Michael Berger	Newbridge Securities Corporation
	Metlife Securities Inc.
Joseph Craig Buchanan	Morgan Stanley Smith Barney
	UBS Financial Services Inc.
George William Carris	John Carris Investments LLC
	Brockington Securities, Inc.
Maurice Joseph Chelliah	Evolve Securities, Inc.
	World Group Securities, Inc.
Anthony Diaz	IBN Financial Services, Inc.
	Sandlapper Securities, LLC
Michael Harris Lauer	J.P. Morgan Securities LLC
	Morgan Stanley
Anthony Locantore	ING Financial Partners, Inc.
	SII Investments, Inc.
Wilhelm Nash	UBS Financial Services Inc.
	Credit Suisse Securities (USA) LLC
Peter Andrew Reinhart	Ameriprise Financial Services, Inc.
	Wells Fargo Advisors Financial Network, LLC
Chad Herschel Samuel	Wells Fargo Advisors, LLC
	Morgan Stanley Smith Barney
Charles Vaccarro	F1 Trading.com, Inc.
	Greenway Capital Corp.

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. 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 January 2016

January 27, 2016 | Silver Law Group

According to FINRA Disciplinary actions for January 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
Raymond Aleksey	Wells Fargo Advisors, LLC
Raymond Aleksey	Merrill Lynch, Pierce, Fenner & Smith Inc.
Matthew C. Ashton	Merrill Lynch, Pierce, Fenner & Smith Inc.
Ryan Jerry Attenson	Merrill Lynch, Pierce, Fenner & Smith, Inc.
Ryan Jerry Attenson	Wells Fargo Advisors, LLC
Azim, Kamran	The Huntington Investment Company
Tiffany Dawn Bee
Keith Joseph Bettex	Pruco Securities, LLC
Keith Joseph Bettex	F.N. Wolf & Co., Inc.
Bruce Scott Birke	Accelerated Capital Group
Bruce Scott Birke	Crown Capital Securities, L.P.
Toby Blackwood	PFS Investments Inc.
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.
Robert Blake Ellender	Invesco Distributors, Inc.
Robert Blake Ellender	John Hancock Funds, LLC
Susan Ann Ericson	UBS Financial Services Inc.
Jose L. Espinoza	J.P. Morgan Securities LLC
Jose L. Espinoza	Chase Investment Services Corp.
Aaron Alexander Fauntleroy	ICMA-RC Services, LLC
Craig Steven Ferraro	J.P. Morgan Securities LLC
Craig Steven Ferraro	Chase Investment Services Corp.
Michael W. Finn	Merrill Lynch, Pierce, Fenner & Smith
Alain J. Florestan	Caldwell International Securities
Alain J. Florestan	Brookstone Securities, 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
Gregory Kieth Hines, Jr.	The Huntington Investment Company
Gregory Kieth Hines, Jr.	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 LLC
Warren Scott Koch	J.P. Morgan Securities LLC
Warren Scott Koch	Chase Investment Services Corp.
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.
Samuel Ryan McClain	Northwestern Mutual Investment Services, LLC
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.
Chakkin Tony Mok	Cetera Financial Specialists LLC
Chakkin Tony Mok	Hochman & Baker Securities, Inc.
Elizabeth Ann Monge	Lincoln Financial Advisors Corporation
Elizabeth Ann Monge	Valic Financial Advisors, Inc.
Samuel Sean Nelson	Waddell & Reed
Hai Yan Ni	T. Rowe Price Investment Services, Inc.
Hai Yan Ni	HSBC Securities (USA) Inc.
Darlene Byrd Page	Morgan Stanley
Darlene Byrd Page	UVest Financial Services Group, Inc.
Bernard Mark Parker	Edward Jones
Bernard Mark Parker	Beaconsfield Financial Services, Inc.
Christopher A. Parris	Nationwide Securities, Inc.
Christopher A. Parris	NYLife Securities, Inc.
Benjamin John Pritchett	Wells Fargo Adviosrs, 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.
Carmie Lynn Shifflett	Citigroup Global Markets Inc.
Carmie Lynn Shifflett	Citicorp Investment Services
William Victor Siegel	Morgan Stanley
William Victor Siegel	Citigroup Global Markets Inc.
John Larry Simpson	Princor Financial Services Corporation
John Larry Simpson	Avalon Investment & Securities Group, Inc.
Robert Jay Snider	Thrivent Investment Management Inc.
Renate Barbel Sterrett	LPL Financial LLC
Renate Barbel Sterrett	Investacorp, Inc.
Abel Gaim Taklai	Key Investment Services LLC
Vladimir Tingue	Scottrade, Inc.
Vladimir Tingue	J.P. Morgan Securities LLC
Leonard Toth	Pruco Securities, LLC
Jean Ann Walsh-Josephson	Thrivent Investment Management Inc.
Joseph Arnold Weber	Farmers Financial Solutions, LLC
Joseph Arnold Weber	Equico Securities, Inc.
Teule S. Williams	J.P. Morgan Securities LLC
Teule S. Williams	Chase Investment Services Corp.
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. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide 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.

Registered Individuals Barred by FINRA for Violations of FINRA Rules in January 2016

January 27, 2016 | Silver Law Group

According to FINRA Disciplinary actions for January 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
Antonio Ambrosio
Brian Michael Corbman	Streetcapital, Inc.
Brian Michael Corbman	Tripoint Global Equities, LLC
Richard Gordon Drown, Jr.	D.A. Davidson & Co.
Richard Gordon Drown, Jr.	Crowell Weedon & Co.
Jason John Garcia	Merrimac Corporate Securities, Inc.
Jason John Garcia	Wallstreet*E Financial Services, Inc.
Honetta C. Kao	Meyers Associates, L.P.
Honetta C. Kao	Caldwell International Securities
Michael Terrence Snedeker	Investors Capital Corp.
Michael Terrence Snedeker	Banc of America Investment Services, Inc.
Cynthia Irene Taylor	BBVA Securities, Inc.
Cynthia Irene Taylor	BBVA Compass Investment Solutions, Inc.
John Howard Towers	VSR Financial Services, Inc.
John Howard Towers	Rushmore Securities Corporation
Marat Zeltser aka Matt Zeltser	Meyers Associates, L.P.
Marat Zeltser aka Matt Zeltser	Caldwell International Securities

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. 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 Permanently Bars Texas Broker Joe L Buckner

January 17, 2016 | Silver Law Group

FINRA Permanently Bars Texas Broker Joe L Buckner on silverlaw.com

Buckner can no longer act as a broker or associate with any member of FINRA in any capacity

Joe L. Buckner has been barred by FINRA as of December 2015. As a result of his refusal to respond to the FINRA’s request for information, the Texas broker can no longer associate with any member of FINRA in any capacity.

Buckner’s employment history includes Brazos Securities in Dallas and in his early days, Merrill Lynch, Pierce, Fenner and Smith in New York, New York.

Marc Arena: Hear No Evil, See No Evil Allegations

January 14, 2016 | Silver Law Group

Marc Arena: Hear No Evil, See No Evil Allegations on silverlaw.com

After multiple allegations and failure to supervise, New York broker Marc Arena faces stiff FINRA suspension.

Newport Coast Securities broker Marc Arena has received a suspension from the Financial Industry Regulatory Authority (FINRA) for failing to adequately supervise a member of his FINRA registered firm. He allegedly did not take action to address multiple red flags indicating that a member of his firm was participating in excessive trading, churning, and giving unsuitable recommendations to customers. As the supervisor, it was his responsibility to take reasonable action to address this broker misconduct and ensure that it did not continue to occur. According to FINRA reports, Mr. Arena’s alleged failure to take action resulted in a FINRA suspension for acting in any capacity for 10 days and a suspension for acting in any principal capacity for 23 months ending in October, 2017.

Arena’s history in the securities industry

Silver Law Group Files Class Action Lawsuit Against Cryptsy and Its Principal Paul (“Big Vern”) Vernon

January 13, 2016 | Silver Law Group

Silver Law Group (www.silverlaw.com), along with the law firm of Wites & Kapetan, P.A., has filed a nationwide class action lawsuit in federal court against Florida-based cryptocurrency exchange operator Cryptsy and its principal, Paul (“Big Vern”) Vernon. Over the past several months, numerous Cryptsy account holders have been denied access to their accounts and have been deprived of any ability to properly protect their valuable assets amidst widespread reports of problems at the heart of Cryptsy’s business. While reports have been swirling in multiple media outlets that Cryptsy’s future is greatly troubled and that the company might be under heavy regulatory scrutiny, many Cryptsy account holders have been unable to withdraw any and all forms of currency from their accounts. Despite repeated inquiries to Cryptsy, users are being left without any meaningful response or information from Cryptsy and have had their withdrawal demands either denied or tabbed as “pending” for days, weeks, or even months. Although the exact amount has yet to be calculated, it is believed the value of the digital funds being held captive at Cryptsy exceeds Five Million Dollars ($5,000,000.00).

The class action lawsuit is pending in the United States District Court for the Southern District of Florida under Case No. 9:16-cv-80060. As stated in the lawsuit, the class of victims pursuing relief includes “All Cryptsy account owners who deposited Bitcoins, alternative cryptocurrencies, or any other form of monies or currency at Cryptsy and have been denied access to their accounts and funds between November 1, 2015 and the present date.” The lawsuit asserts claims for negligence, unjust enrichment, conversion of funds and property, and violations of Florida’s Deceptive and Unfair Trade Practices Act.

If you have invested in Bitcoin or any other cryptocurrency and believe you are the victim of a fraud or a theft of your assets, you might have the grounds upon which to assert a claim to recover your losses. Additionally, if you have entrusted your cryptocurrency to Cryptsy or have traded through its web site and feel you have been misled, gather your metadata and contact Silver Law Group to find out what rights may be available to you.

Abern Barred by FINRA for Failing to Cooperate

January 12, 2016 | Silver Law Group

Abern Barred by FINRA for Failing to Cooperate on silverlaw.com

FINRA made a request to meet but Andrew Abern was a no show.

The Financial Industry Regulatory Authority (FINRA) took decisive action in 10/15 against former Dalton Strategic Investment Services broker, Andrew Abern, for failing to cooperate with their investigation. Specifically, Abern did not appear at a scheduled FINRA on-the-record interview. FINRA was investigating allegations that Abern recommended a customer refinance his home and use the proceeds toward the purchase of variable annuities. This ban means that he can no longer have any contact or activity with FINRA firms.

Long history of questionable conduct

FINRA Permanently Bars Broker Richard McGuire for Taking Funds and Forging Signatures

January 10, 2016 | Silver Law Group

FINRA Permanently Bars Broker Richard McGuire for Taking Funds and Forging Signatures on silverlaw.com

Allegations include conversion and elder financial fraud among numerous other unethical acts

FINRA has taken strong action against investment broker Richard McGuire, a long-time broker who was most recently registered with Newport Coast Securities Inc. and Financial West Group, both located in New York.

McGuire has been permanently barred from associating with any FINRA member in any capacity for numerous alleged unethical actions including stealing from his clients, forging signatures, failing to notify his brokerage firms about outside brokerage accounts, and taking advantage of older and unsophisticated clients for his own personal gain.

FINRA Permanently Suspends New York Broker Frederick Monroe for Misappropriating Funds

January 10, 2016 | Silver Law Group

FINRA Permanently Suspends New York Broker Frederick Monroe for Misappropriating Funds on silverlaw.com

Theft of client funds exceeds $1 million in elaborate Ponzi scheme spanning a 20-year career in the securities industry

According to FINRA records, Frederick Monroe, an investment broker based in Albany, NY, has been permanently suspended as a broker and was arrested in June 2015 after being charged with theft of over $1 million dollars in investor funds.

Monroe has been in the investment business for more than 20 years and has been registered with companies including Voya Financial Advisors (2006-2015), Northwestern Mutual Investment Services (1994-2006) and the Robert W. Baird & Company (1994-2002).