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According to FINRA Disciplinary actions for October 2021, 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
  Matthew Berman
  Thomas Bonik   NTB Financial Corporation
  LInsco/Private Ledger Corp.
  James Clements   Allstate Financial Services, LLC
  State Farm VP Management Corp.
  Henrique Lucena   Laidlaw & Company
  Morgan Stanley
  Lionel Scott   Arive Capital Markets
  Cape Securities Inc.
  Ricardo Uliambre   Morgan Stanley Smith Barney LLC
  UBS Financial Services Inc.
   Paul Vizanko   Wells Fargo Clearing Services, LLC
  Merrill Lynch, Pierce, Fenner & Smith Incorporated

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According to FINRA Disciplinary actions for October 2021, 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
  Brett Bauer   BrokerBank Securities, Inc.
  CapitalQuest Securities, Inc.
  Carmine Berardi   First Standard Financial Advisory, LLC
  Alexander Capital, LP
  Jason Fekete   Ameritas Investment Company, LLC
  Lincoln Financial Securities Corporation
  Geoffrey Garratt   Spartan Capital Securities, LLC
  First Standard Financial Company
  Trevor Gordon   Sandlapper Securities, LLC
  James Harold Goode, Jr.
  Thomas Hagan   Morgan Stanley
  Wells Fargo Advisors, LLC
  Andre Labarbera   Titus Rockefeller, LLC
  IFS Securities
  Michael Leahy   First Standard Financial Company LLC
  Alexander Capital, LP
  David Levy   Titus Rockefeller, LLC
  IFS Securities
  Leslie Markus Jr.   Lincoln Investment
  Ameriprise Financial Services, Inc.
  Scott Reynolds   Avatar Securities, LLC
  Spartan Securities Group, Ltd.
  Richard Stoyeck   Titus Rockefeller, LLC
  Newport Coast Securities, Inc.
  Gopi Vungarala   Pershe Kaplan Sterling Investments
  Sutterfield Financial Group, Inc.
  Robert Wong   Jefferies LLC
  Scott-Macon Securities, Inc.

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According to FINRA Disciplinary actions for October 2021, 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. However, these individuals remain bound by the securities arbitration agreement to arbitrate any disputes between themselves and their former customers:

NAME FORMER EMPLOYERS
  Arely Alvarez  Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Bradley Holts   World Capital Brokerage, Inc.
  Supreme Alliance LLC
  Johnnie Jones   Network 1 Financial Securities Inc.
  National Securities Corporation
  Stacie Orr   Allstate Financial Services, LLC
  Ryan Ott   Equitable Advisors, LLC
  Dominic Scalzi   Deutsche Bank Securities, Inc.
  Banc of America Investment Services, Inc.
  Andre Senegal   OneAmerica Securities, Inc.
  NYLIfe Securities LLC
  Kyle Stevens   SECU Brokerage Services, Inc.
  Rosemary Vrablic   Deutsche Bank Securities Inc.
  Banc of America Investment Services, Inc.

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Kenneth Welsh (Kenneth Andrews Welsh CRD:# 4657872) is a former registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Fairfield, New Jersey. Previously, he was employed with three divisions of Smith Barney (CRD#: 149777, 8209, and 7556), also of Fairfield. He has been in the industry since 2004. On October 28, 2021, The Securities & Exchange Commission (SEC) charged Welsh with misappropriation of $2.86 million from client accounts. Many of these clients were elderly investors, described by the SEC as “financially unsophisticated.” Prior to any transfer, the complaint alleges, Welsh circumvented the firm’s policies to carry them out. He also sold and traded in the customer accounts to ensure available cash for his unauthorized activity. Welsh made these sales within days of the illicit transfers.Kenneth Welsh (Kenneth Andrews Welsh CRD:# 4657872) is a former registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Fairfield, New Jersey. Previously, he was employed with three divisions of Smith Barney (CRD#: 149777, 8209, and 7556), also of Fairfield. He has been in the industry since 2004. Continue reading ›

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The SEC has found that two businesses that were alleged to invest in acquiring and leasing real estate to cannabis companies are frauds. The three defendants who used two crowdfunding websites to raise capital for the alleged real estate businesses are: Robert Samuel Shumake, Jr., of Bloomfield Hills, Michigan, the alleged “ringleader” with multiple criminal convictions, including two felonies involving financial crimes and on probation Nicole T. Birch, a solo licensed attorney in Georgia with a personal relationship to Shumake Willard L. Jackson, of Houston, Texas, the CEO and sole director of 420 Real Estate All falsely represented themselves to investors, as well as omitted Shumake’s previous criminal record and other important facts to investors in connection with the crowdfunding offerings. They then redirected thousands of dollars from investor funds to different accounts for their own personal benefit. The SEC has found that two businesses that were alleged to invest in acquiring and leasing real estate to cannabis companies are frauds. The three defendants who used two crowdfunding websites to raise capital for the alleged real estate businesses are: Continue reading ›

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Marc Reda (Marc Augustus Reda CRD:#2757330) is a registered broker currently employed with SPARTAN CAPITAL SECURITIES, LLC (CRD# 146251) of New York, NY. His previous employers include First Standard Financial Company LLC (CRD#:168340) of Staten Island, NY, PHX Financial, Inc. (CRD#:144403) and Laidlaw & Company (UK) Ltd. (CRD#:119037) also of New York City. FINRA expelled three of his previous employers: John Thomas Financial (CRD#:40982) of New York, NY, on 10/31/2013 Prestige Financial Center, Inc. (CRD#:30407), also of New York, NY, on 5/23/2011 Clark Street Capital, Inc. (CRD#:38304) of Levittown, NY, on 2/24/2005 He has been in the industry since 1999.Marc Reda (Marc Augustus Reda CRD:#2757330) is a registered broker currently employed with SPARTAN CAPITAL SECURITIES, LLC (CRD# 146251) of New York, NY. His previous employers include First Standard Financial Company LLC (CRD#:168340) of Staten Island, NY, PHX Financial, Inc. (CRD#:144403) and Laidlaw & Company (UK) Ltd. (CRD#:119037) also of New York City. Continue reading ›

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Cynthia Komarek & Grant Birkley, two brokers formerly registered with SagePoint Financial of Barrington, IL, were terminated on the same day after the firm discovered that they were engaged in making referrals to an outside asset manager who was not approved by the board. Cynthia Komarek (CRD#: 1188714, aka (Cynthia Ann Brown, Cynthia Brown-Komarek, Cynthia Brown Komarek, Cynthia Brown Pearson) is a former registered broker and investment advisor last employed with SagePoint. Her previous employers include Wells Fargo Clearing Services, LLC (CRD#:19616) of Woodstock, IL., Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Crystal Lake, IL., and Lehman Brothers Inc. (CRD#:7506), of New York, NY. She has been in the industry since 1983. Grant Birkley (Grant Christopher Birkley CRD#: 2933533) is also formerly registered with SagePoint, Wells Fargo, and Merrill Lynch at the same time as Komarek. He has been in the industry since 1998.  Two client disputes were filed on the same day for both Komarek and Birkley. In Komarek’s case, they total $2,330,000:Cynthia Komarek & Grant Birkley, two brokers formerly registered with SagePoint Financial of Barrington, IL, were terminated on the same day after the firm discovered that they were engaged in making referrals to an outside asset manager who was not approved by the board. Continue reading ›

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A class action lawsuit has been filed on behalf of shareholders of stock in Vipshop Holdings Ltd. (VIPS), regarding alleged violations of federal securities laws. If you purchased or acquired shares of Vipshop Holdings Ltd. (VIPS) between March, 22, 2021 and March 29, 2021, please contact Scott Silver of Silver Law Group at (800) 975-4345 or at ssilver@silverlaw.com. The deadline to apply to be lead plaintiff (class representative) is December 13, 2021. Vipshop Holdings Limited is a Chinese e-commerce company that operates Vip.com and other segments. The company sells apparel, skin care products, accessories, home furnishings, and more. Class Action Allegations According to the class action lawsuit, which was filed in the US District Court for the Southern District of New York, Goldman Sachs Group Inc. and Morgan Stanley (Defendants) traded with non-public material information.A class action lawsuit has been filed on behalf of shareholders of stock in Vipshop Holdings Ltd. (VIPS), regarding alleged violations of federal securities laws.

If you purchased or acquired shares of Vipshop Holdings Ltd. (VIPS) between March, 22, 2021 and March 29, 2021, please contact Scott Silver of Silver Law Group at (800) 975-4345 or at ssilver@silverlaw.com. The deadline to apply to be lead plaintiff (class representative) is December 13, 2021. Continue reading ›

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Daniel O’Neil and Douglas Szempruch, two brokers working for Aegis Capital Corp. (CRD#:15007) in Melville, NY, have faced disciplinary action FINRA after both were separately involved in improper activities. Daniel O’Neil (Daniel James O’Neil CRD#:1358245) is a former registered broker with Aegis, who discharged him on 7/29/2021 for failing to notify the firm about a “pending enforcement investigation” by FINRA. The investigation focused on “conduct inconsistent with firm standards.”Daniel O’Neil and Douglas Szempruch, two brokers working for Aegis Capital Corp. (CRD#:15007) in Melville, NY, have faced disciplinary action FINRA after both were separately involved in improper activities.

Daniel O’Neil (Daniel James O’Neil CRD#:1358245) is a former registered broker with Aegis, who discharged him on 7/29/2021 for failing to notify the firm about a “pending enforcement investigation” by FINRA. The investigation focused on “conduct inconsistent with firm standards.” Continue reading ›

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Paul Vizanko (Paul Warren Vizanko CRD:#2572222) is a former broker and investment advisor last employed with  Wells Fargo Clearing Services, LLC (CRD#:19616) of Duluth, MN. He was previously employed with Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691), also of Duluth, MN, Wells Fargo Investments, LLC (CRD#:10582) of Grand Rapids, MN, and Miller Johnson Steichen Kinnard, Inc. (CRD#:694) He has been in the industry since 1995. Wells Fargo discharged Vizanko on 1/26/2021 after he borrowed money from a client. Additionally, Vizanko received a cash gift from a different client, and was also named a beneficiary of the second client’s trust. Vizanko failed to notify the firm of these funds, then misappropriated those funds. After FINRA requested information related to his termination, Vizanko failed to respond to two letters dated May 26, 2021 and June 21, 2021. FINRA issued a suspension from any association with a FINRA member, which Vizanko failed to address by requesting within three months of the date. As of August 30, 2021, Vizanko is indefinitely barred from any affiliation with a FINRA member. This ruling is final. On August 12, 2021, a customer filed a dispute alleging that from September 23, 2015 through December 22, 2020, Vizanko cashed checks that were made out to him but intended for the client. No damage amount is listed, and no other information is available. This claim is pending.Paul Vizanko (Paul Warren Vizanko CRD:#2572222) is a former broker and investment advisor last employed with  Wells Fargo Clearing Services, LLC (CRD#:19616) of Duluth, MN. He was previously employed with Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691), also of Duluth, MN, Wells Fargo Investments, LLC (CRD#:10582) of Grand Rapids, MN, and Miller Johnson Steichen Kinnard, Inc. (CRD#:694) He has been in the industry since 1995. Continue reading ›

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