Securities Arbitration Lawyers Blog

Meyers Associates Broker Matthew Siliato Under Investigation for Pending Suitability and Breach of Fiduciary Duty Claims

August 16, 2016 | Silver Law Group

Silver Law Group is investigating Meyers Associates broker Matthew A. Siliato (CRD# 5062153) for recent allegations that he recommended clients unsuitable investments.

Siliato’s Financial Industry Regulatory Authority (“FINRA”) BrokerCheck report indicates that the broker has nine misconduct disclosures.

Siliato’s most recent complaint was filed on June 23, 2016. The customer dispute alleges unsuitable recommendations and damages in the amount of $250,000. The complaint is currently pending.

Bahram Mirhashemi Facing Allegations of Elder Financial Fraud

August 15, 2016 | Silver Law Group

Bahram Mirhashemi Facing Allegations of Elder Financial Fraud on silverlaw.com

Serious allegations lead to termination at Accelerated Capital Group and permanent bar from FINRA

Silver Law Group is investigating allegations against broker Bahram Mirhashemi for unauthorized trades, unsuitable mutual find switching, churning of customer accounts, fraud, elder financial fraud, and several other serious violations.

Mirhashemi has worked in the financial services industry for 18 years and was employed by several firms during that time period. His most recent position was with Accelerated Capital Group in Irvine, California from September of 2012 through January of 2016.

FINRA Permanently Bars Wayne Anthony Schultz from the Securities Industry

August 15, 2016 | Silver Law Group

FINRA Permanently Bars Wayne Anthony Schultz from the Securities Industry on silverlaw.com

Wayne Anthony Schultz has been permanently barred from the securities industry.

Silver Law Group is investigating allegations against Wayne Anthony Schultz in relation to notes that he issued to an elderly customer. FINRA brought enforcement action against Schultz after he continually refused to provide the documentation and information they requested in relation to the customer dispute.

Schultz’s employment history dates back to 1992 and includes working for Cadaret, Grant and Company in Syracuse, New York; Your Money Matters Brokerage Services in Somerset, New Jersey; TFS Securities in Annandale, New Jersey; Sterne Agee Financial Services in Branchburg, New Jersey; and most recently for Adirondack Trading Group, also in Branchburg, New Jersey.

FINRA Suspends Christopher Kelly from Securities Industry for Four Months

August 12, 2016 | Silver Law Group

FINRA Suspends Christopher Kelly from Securities Industry for Four Months on silverlaw.com

Jupiter, FL broker allegedly borrowed money from customers without disclosing the arrangement or seeking an exception to his member firm’s rule that prohibits it

After 17 years in the securities industry, Christopher Kelly, a broker in Jupiter, Florida, has been suspended for four months by the FINRA. Silver Law is investigating the allegations against Kelly, who was most recently employed by LPL Financial in Jupiter, Florida from 2005 to 2014. He was also a registered representative for Banc of America Investment Services; Merrill Lynch, Pierce, Fenner and Smith; and Prudential Securities.

FINRA alleges that Kelly borrowed $150,000 from customers, an action that is in violation of his member firm’s borrowing policy. It is also alleged that he did not disclose this borrowing arrangement with his firm or seek an exception to the rule that prohibits this arrangement. Kelly was terminated from LPL Financial soon after these allegations were made.

New York Broker John Labarca Permanently Barred from the Securities Industry

August 12, 2016 | Silver Law Group

New York Broker John Labarca Permanently Barred from the Securities Industry on silverlaw.com

24-year career ends amid allegations of breach of fiduciary duty and negligence

Allegations made against John Labarca, a broker that was formerly employed by National Securities Corporation in New Jersey, include executing unauthorized transactions, breach of fiduciary duty and acting negligently.

FINRA requested that he provide information and documentation in connection with their investigation of the allegations made against him, but Labarca refused to respond or cooperate with the request. As a result, he was permanently barred from the industry.

Allegations of Sales Practice Violations Cloud Broker Kenneth Dlouhy ‘s Record

August 11, 2016 | Silver Law Group

Allegations of Sales Practice Violations Cloud Broker Kenneth Dlouhy ‘s Record on silverlaw.com

FINRA permanently bars Capstone Research Inc. broker from associating with any member firm.

After 22 years in the financial services industry, New Jersey-based broker Kenneth Dlouhy is no longer eligible to associate in any capacity with any FINRA member firm. This permanent suspension comes as a result of Dlouhy’s failure to respond to a FINRA request for information during an investigation.

A closer look at Dlouhy’s BrokerCheck record shows numerous customer disputes dating back to 1998, with the most recent dispute filed in late 2015. Included in many of the disputes are allegations against Dlouhy that include unsuitability, unauthorized trading, misrepresentation, churning, negligence, breach of fiduciary duty, breach of contract and violations of state securities laws. Damage amounts requested against Dlouhy throughout his career exceed $2.2M.

Georgia Broker Clay Hoffman Suspended by FINRA

August 11, 2016 | Silver Law Group

Georgia Broker Clay Hoffman Suspended by FINRA on silverlaw.com

Allegations include unauthorized trading, misrepresentation and unsuitable investment recommedations

Clay Hoffman, who has been working in the financial services industry since 2001, has seven customer complaints against him, four pending complaints, several disputes, and was been terminated by Suntrust Investment Services after the firm conducted a review of his client account transactions. Hoffman was employed with SunTrust from 2007 to 2013. His employment history also includes working for Merrill Lynch in Ponte Vedra Beach, Florida and for Edward Jones in both Tifton, Georgia and St. Louis, Missouri.

According to FINRA, Hoffman is accused of:

Darnell Deans Fails to Pay FINRA Fines As Agreed, Is Permanently Barred

August 10, 2016 | Silver Law Group

Darnell Deans Fails to Pay FINRA Fines As Agreed, Is Permanently Barred on silverlaw.com

Broker is also accused of failure to disclose unsatisfied tax liens in excess of $250,000 and borrowing $266,000 from firm customers without consent.

Darnell Deans, most recently registered with Blackbook Capital, LLC in New York, is once again in hot water with FINRA.

A new disclosure on his BrokerCheck record shows that he allegedly failed to pay fines and/or costs of $10,000 in FINRA Case #2012030677101. In February 2015, a FINRA complaint was filed against Deans, alleging the following:

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

August 9, 2016 | Silver Law Group

According to FINRA Disciplinary actions for July 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
Robert Joseph Altemus	Merrill Lynch, Pierce, Fenner & Smith Inc
	Citigroup Global Markets Inc.
Michael Britt Doyle	Sanctuary Securities, LLC
	UBS Financial Services Inc.
Richard Lee Ewalt	BB&T Investment Services Inc.
	Securities America, Inc.
John Fairfield	Wells Fargo Advisors, LLC
	Chase Investment Services Corp.
George John Gilbert	Allied Beacon Partners, Inc.
	Community Bankers Securities, LLC
Brendan O’Connell	Merrill Lynch, Pierce, Fenner & Smith Inc.
	UBS Financial Services Inc.


Warren Marc Rockmacher	Investacorp, Inc.
	Chase Investment Services Corp.
Terry Gerard Roussel	Pacific Cornerstone Capital Incorporated
	Private Investors Equity Group
Jonathan Michael Sheklow	Rockwell Global Capital LLC
	Global Arena 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 July 2016 for Violations of FINRA Rules

August 9, 2016 | Silver Law Group

According to FINRA Disciplinary actions for July 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
David F. Bouchard
Alina Brindusescu	U.S. Bancorp Investments, Inc.
Alina Brindusescu	HSBC Securities (USA) Inc.
Francisco Javier Camacho	J.P. Morgan Securities LLC
Christopher Michael Cervino	Primary Capital, LLC
Christopher Michael Cervino	Cor Clearing LLC
David Glenn Gott	Ausdal Financial Partners, Inc.
David Glenn Gott	Berthel, Fisher & Company Financial Services Inc.
Israel Guzman	UnionBanc Investment Services, Inc.
Israel Guzman	J.P. Morgan Securities LLC
John Vernon Heath	Independent Financial Group, LLC
John Vernon Heath	QA3 Financial Corp.
Steven Shane Horton	TD Ameritrade Clearing, Inc.
Holly Hurley
Phillip Joseph Johnson	Wells Fargo Advisors, LLC
Christos Angelo Kalatoudis	Worden Capital Management LLC
Christos Angelo Kalatoudis	National Securities Corporation
David Richard Kerr III	A&F Financial Securities, Inc.
Kenneth Joseph Kolquist	Cetera Advisor Networks LLC
Kenneth Joseph Kolquist	Securities America, Inc.
Donald Lyons	Nativeone Institutional Trading, LLC
Samuel Sylvanus McNinch IV	Kestra Investment Services, LLC
Samuel Sylvanus McNinch IV	Triad Advisors, Inc.
Krista Viola Milligan	BBVA Securities Inc.
Krista Viola Milligan	Merrill Lynch, Pierce, Fenner & Smith Inc
Mercedes Molina
Kevin Michael Murphy	BMO Harris Financial Advisors, Inc.
Kevin Michael Murphy	LPL Financial LLC
Robert Isaac Newell	Merrill Lynch, Pierce, Fenner & Smith Inc
Robert Isaac Newell	Edward Jones
Andrew Scott Oliveri	UBS Financial Services Inc.
David Thomas Owen III	Invest Financial Corporation
David Thomas Owen III	Questar Capital Corporation
Kimberly Joyce Padgett	GWN Securities Inc.
Kimberly Joyce Padgett	Lincoln Investment
Alfonso Papa	Merrill Lynch, Pierce, Fenner & Smith Inc.
Alfonso Papa	HFP Capital Markets LLC
Paul M. Pemberton	J.P. Morgan Securities LLC
Paul M. Pemberton	Chase Investment Services Corp.
Claudia Patricia Phillips-Thompson	State Farm VP Management Corp.
Claudia Patricia Phillips-Thompson	Allstate Financial Services, LLC
Paris Marquis Rembert	J.P. Morgan Securities LLC
Dennis Kevin Smith	NativeOne Institutional Trading, LLC
Dennis Kevin Smith	Raymond C. Forbes & Co. Inc.
Barbara Jean Waters	Morgan Stanley
Barbara Jean Waters	Citigroup Global Markets 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.