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Kevin Schaefer (Kevin Joseph Schaefer CRD:# 1286030) is a registered broker and investment advisor currently employed with Wells Fargo Clearing Services, LLC (CRD#: 19616) of San Francisco, CA. His previous employers include Morgan Stanley Smith Barney LLC (CRD#:149777) and UBS Financial Services Inc. (CRD#:8174), both of San Francisco, and Smith Barney Shearson Inc. (CRD#:7059) of New York, NY. He has been in the industry since 1984. Schaefer is the subject of two currently pending disputes. The first, filed on 6/12/2020, alleges “unsuitable investment recommendations and misrepresentations.” The client requests damages of $1,000,000. The second, filed on 6/4/2020, alleges “unsuitable investment recommendations, failure to follow instructions and misrepresentations from 2012 until 2020.”  The client requests damages of $300,000.Kevin Schaefer (Kevin Joseph Schaefer CRD:# 1286030) is a registered broker and investment advisor currently employed with Wells Fargo Clearing Services, LLC (CRD#: 19616) of San Francisco, CA. His previous employers include Morgan Stanley Smith Barney LLC (CRD#:149777) and UBS Financial Services Inc. (CRD#:8174), both of San Francisco, and Smith Barney Shearson Inc. (CRD#:7059) of New York, NY. He has been in the industry since 1984. Continue reading ›

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Bill Hightower (William Andrew “Bill” Hightower CRD#: 2152369) is a former registered broker and investment advisor whose last known employer was Legacy Asset Securities, Inc. (CRD#:47644) of Houston, TX. His previous employers include UBS Financial Services Inc. (CRD#:8174) and RBC Dain Rauscher Inc. (CRD#:31194), also of Houston, and A. G. Edwards & Sons, Inc. (CRD#:4), of St. Louis, MO. He has been in the industry since 1991. The Securities & Exchange Commission (SEC) found that Bill Hightower was, while employed for Legacy Asset Securities, also the CEO of Hightower Capital Group (HCG). HCG was his own private and unregistered company where he conducted business away from Legacy. The SEC investigation found that Hightower transferred sums of money from two clients into HCG under the guise of “investment.” On 3/14/2015, Hightower transferred $800,000 into the HCG accounts. Then on 1/14/2015, he transferred $900,000 from a second client’s account into HCG. Both transfers were used to pay previous “investors” in HCG, as well as for personal expenses.Bill Hightower (William Andrew “Bill” Hightower CRD#: 2152369) is a former registered broker and investment advisor whose last known employer was Legacy Asset Securities, Inc. (CRD#:47644) of Houston, TX. His previous employers include UBS Financial Services Inc. (CRD#:8174) and RBC Dain Rauscher Inc. (CRD#:31194), also of Houston, and A. G. Edwards & Sons, Inc. (CRD#:4), of St. Louis, MO. He has been in the industry since 1991. Continue reading ›

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Silver Law Group is investigating potential claims on behalf of victims of an alleged fraud perpetrated by Detroit, Michigan-based Viktor Gjonaj. According to a press release from the Securities and Exchange Commission (SEC), Gjonaj “allegedly defraud[ed] members of the Albanian-American community out of approximately $26.4 million, some of which he spent playing the Michigan State Lottery.” Securities And Exchange Commission Filed Civil Enforcement Complaint Against Viktor Gjonaj On January 28, 2021, the SEC filed a Complaint against Viktor Gjonaj in United Stated District Court for the Eastern District of Michigan. The Complaint states that “[t]he SEC brings this civil law enforcement action to address Defendant Viktor Gjonaj’s fraudulent offer and sale of securities to at least 24 investors . . .”  The SEC alleges that Gjonaj’s conduct violates Section 17(a) of the Securities Act as well as Section 10(b) and Rule 10b-5 of the Exchange Act. The SEC is seeking an order permanently restraining and enjoining Gjonaj from further violation of federal securities laws, an order requiring Gjonaj to pay disgorgement—his ill-gotten gains from the scheme, and civil penalties.Silver Law Group is investigating potential claims on behalf of victims of an alleged fraud perpetrated by Detroit, Michigan-based Viktor Gjonaj. According to a press release from the Securities and Exchange Commission (SEC), Gjonaj “allegedly defraud[ed] members of the Albanian-American community out of approximately $26.4 million, some of which he spent playing the Michigan State Lottery.” Continue reading ›

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William Athes (William Nicholas Athes CRD#: 3165470) is a currently registered broker employed by SW Financial (CRD#: 145012 of Melville, NY.) His previous employers include Worden Capital Management LLC (CRD#:148366), also of Melville, K.C. Ward Financial (CRD#:145135) of Ronkonkoma, NY, and Securities America, Inc. (CRD#:10205) of Port Jefferson, NY. He has been in the industry since 1999. A client filed a dispute on 5/4/2020 alleged that from 5/2/2019 to 4/23/2020, Athes engaged in unsuitable trading, breach of contract and fiduciary duty, and churning. This claim is pending, and the client requests damages of $84,932.35. Following this dispute, FINRA began an investigation and issued a preliminary determination on 9/14/2020 to recommend disciplinary action against Athes after allegations of churning, unsuitable recommendations, and other similar allegations.William Athes (William Nicholas Athes CRD#: 3165470) is a currently registered broker employed by SW Financial (CRD#: 145012 of Melville, NY.) His previous employers include Worden Capital Management LLC (CRD#:148366), also of Melville, K.C. Ward Financial (CRD#:145135) of Ronkonkoma, NY, and Securities America, Inc. (CRD#:10205) of Port Jefferson, NY. He has been in the industry since 1999. Continue reading ›

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The Parking REIT, a non-traded real estate investment trust that has declined in value by over 50%, announced that it is selling the majority of the company to an affiliate of the alternative asset management firm Bombe Asset Management. The agreement includes an investment by Bombe of $90 million in property and parking assets and $35 million in cash. Bombe will receive operating partnership units and warrants to purchase common stock. Bombe will purchase 1.55 million shares from the REIT’s advisor, its affiliates, and CEO Michael Shustek, for $11.75 each. About The Parking REIT The Parking REIT, which began operating in 2015, was formed when 2 non-traded REITS, MVP REIT and MVP REIT II, merged. The company invests in parking lots and garages in the U.S. and abroad.The Parking REIT, a non-traded real estate investment trust that has declined in value by over 50%, announced that it is selling the majority of the company to an affiliate of the alternative asset management firm Bombe Asset Management.

The agreement includes an investment by Bombe of $90 million in property and parking assets and $35 million in cash. Bombe will receive operating partnership units and warrants to purchase common stock. Bombe will purchase 1.55 million shares from the REIT’s advisor, its affiliates, and CEO Michael Shustek, for $11.75 each. Continue reading ›

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Linda Howard (Linda Karen Howard CRD#: 1922648) is a registered broker and investment advisor currently employed with Edward Jones (CRD#:250) of San Antonio, TX. Her previous employers include BA Investment Services, Inc. (CRD#:12965) of Oakland, CA and Invest Financial Corporation (CRD#:12984) of Appleton, WI. She has been in the industry since 1990. A customer dispute filed on 9/20/2020 by an attorney for a client’s estate alleges that from March 2018 through December 2019, Howard worked with a former power of attorney agent to open accounts in the client’s name. The allegations also include the designation of beneficiaries other than the client’s estate, and working to deplete the estate’s assets. There is no response from Howard or the firm. A previous customer dispute filed on 3/27/2017 allege that Howard forged the client’s signature for an unauthorized purchase, and requested damages of $7,000. The claim was denied following the firm’s investigation.Linda Howard (Linda Karen Howard CRD#: 1922648) is a registered broker and investment advisor currently employed with Edward Jones (CRD#:250) of San Antonio, TX. Her previous employers include BA Investment Services, Inc. (CRD#:12965) of Oakland, CA and Invest Financial Corporation (CRD#:12984) of Appleton, WI. She has been in the industry since 1990. Continue reading ›

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Gregory Williams (Gregory Jon Williams CRD#: 1561089) is a previously registered broker and investment advisor whose last known employer was Forta Financial Group, Inc. (CRD#:28784) of Greenwood Village, CO. His previous employers include Morgan Stanley Smith Barney (CRD#:149777) and Citigroup Global Markets Inc. (CRD#:7059) of Denver, CO, and Banc One Securities Corporation (CRD#:16999) of Chicago, IL. He has been in the industry since 1986. Williams is currently the subject of four pending customer disputes with nearly identical allegations of unsuitability, misrepresentation, and negligence. The claims were filed between 3/31/2020 and 10/26/2020. The collective requested damages total $1,349,000. In two of the four claims, the firm denies the claims and will defend themselves. A previous customer dispute filed on 3/29/2020 involving multiple claimants also included allegations of unsuitability, negligence, fraud, and misrepresentation. This case went into FINRA arbitration. Although the six claimants requested damages of $578,821.00, ultimately, only two of the claimants were awarded anything, damages totaling $45,818.00. The other four claimants were denied damages.

Gregory Williams (Gregory Jon Williams, CRD# 1561089) is a previously registered broker and investment advisor whose last known employer was Forta Financial Group, Inc. (CRD#:28784) of Greenwood Village, CO. His previous employers include Morgan Stanley Smith Barney (CRD#:149777) and Citigroup Global Markets Inc. (CRD#:7059) of Denver, CO, and Banc One Securities Corporation (CRD#:16999) of Chicago, IL. He has been in the industry since 1986. Continue reading ›

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David Bibo (David Omori Bibo CRD#: 2602436) is a registered broker currently employed with WESTERN INTERNATIONAL SECURITIES, INC. (CRD#: 39262) of San Jose, CA. He was previously employed with Myclearing.Com (CRD#:104161) and Interfirst Capital Corporation (CRD#:7659), both of Los Angeles, and Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of New York, NY. He has been in the industry since 1995. Bibo is the subject of two currently pending customer disputes regarding unsuitable recommendations. The first, filed on 12/18/2019, requests damages in the amount of $1,500,000. The second, filed on 9/22/2020, requests $300,000 in damages. Two previous filed on 5/15/2019 with concerns over “reasonableness of investment” requested $50,000 each. These claims were both denied.David Bibo (David Omori Bibo CRD#: 2602436) is a registered broker currently employed with WESTERN INTERNATIONAL SECURITIES, INC. (CRD#: 39262) of San Jose, CA. He was previously employed with Myclearing.Com (CRD#:104161) and Interfirst Capital Corporation (CRD#:7659), both of Los Angeles, and Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of New York, NY. He has been in the industry since 1995. Continue reading ›

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Wayne Miller (Wayne Ivan Miller CRD#: 4813645) is a registered broker and previously registered investment advisor currently employed with Aeon Capital Inc. (CRD#: 164004) of Scottsdale, AZ. His previous employers include American Asset Advisory, LLC (CRD#:168444), Accelerated Capital Group (CRD#:41270, expelled by FINRA on 11/26/2019) and Longview Financial Group, Inc. (CRD#:38286), also of Scottsdale. He has been in the industry since 2004. Wayne Miller Disclosures Miller is the subject of eight disclosures, seven of which are related to his tenure at the now-defunct  Accelerated Capital Group. He was named in these disputes due to being named “owner and control person” while at ACG until he left on 2/2/2018. Miller left the firm more than a year before the firm was expelled by FINRA for misleading advertising and failing to establish and maintain a supervisory system. Before its expulsion, the firm was subjected to censures and fines for misconduct. The most recent was filed on 9/25/2020, and alleged “unsuitable placements of alternative investments,” with requested damages of $13,204,427.00. Miller was not the broker of record, and denies the allegations. This claim is pending.Wayne Miller (Wayne Ivan Miller CRD#: 4813645) is a registered broker and previously registered investment advisor currently employed with Aeon Capital Inc. (CRD#: 164004) of Scottsdale, AZ. His previous employers include American Asset Advisory, LLC (CRD#:168444), Accelerated Capital Group (CRD#:41270, expelled by FINRA on 11/26/2019) and Longview Financial Group, Inc. (CRD#:38286), also of Scottsdale. He has been in the industry since 2004. Continue reading ›

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James Couture (James Kenneth Couture CRD#: 4460284) is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Worchester, MA. His previous employers included Lincoln Financial Securities Corporation (CRD#:3870), also of Worchester, MA, New England Securities (CRD#:615) of New York, NY, and Morgan Stanley DW Inc. (CRD#:7556) of Purchase, NY. He has been in the industry since 2001. LPL Financial discharged Couture on 6/17/2020 after discovering that he had: Changed identifying information, account balances and distributions in customer account statements Maintained and comingled customer funds Used an unapproved email addressJames Couture (James Kenneth Couture CRD#: 4460284) is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Worchester, MA. His previous employers included Lincoln Financial Securities Corporation (CRD#:3870), also of Worchester, MA, New England Securities (CRD#:615) of New York, NY, and Morgan Stanley DW Inc. (CRD#:7556) of Purchase, NY. He has been in the industry since 2001. Continue reading ›

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