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TCA Management Group, a South Florida-based hedge fund and business lender, is shutting down its main investment fund, stating that clients have asked for more cash than is available. The announcement comes after TCA employees filed an SEC whistleblower complaint alleging that the TCA Fund Management Group’s Global Credit Master Fund, which lends money to distressed companies, has inflated the hedge fund’s earnings and assets since 2017. The Securities and Exchange Commission (SEC) is investigating the company’s accounting practices.TCA Management Group, a South Florida-based hedge fund and business lender, is shutting down its main investment fund, stating that clients have asked for more cash than is available.

The announcement comes after TCA employees filed an SEC whistleblower complaint alleging that the TCA Fund Management Group’s Global Credit Master Fund, which lends money to distressed companies, has inflated the hedge fund’s earnings and assets since 2017. Continue reading ›

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Robert Montes (Robert Frederico Montes) (CRD#: 835488), a barred broker formerly with Morgan Stanley (CRD#: 149777) in Palm Harbor, Florida, is the subject of 4 disclosures on his BrokerCheck report. Montes has been in the industry since 1977. Before joining Morgan Stanley, he worked for Wells Fargo Advisors (CRD#: 19616), Prudential Securities Incorporated (CRD#: 7471), Salomon Smith Barney (CRD#: 7059), Lehman Brothers (CRD#: 7506), E.F. Hutton & Company (CRD#: 235), Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#: 7691), and Oppenheimer & Co. (CRD#: 630).Robert Montes (Robert Frederico Montes) (CRD#: 835488), a barred broker formerly with Morgan Stanley (CRD#: 149777) in Palm Harbor, Florida, is the subject of 4 disclosures on his BrokerCheck report.

Montes has been in the industry since 1977. Before joining Morgan Stanley, he worked for Wells Fargo Advisors (CRD#: 19616), Prudential Securities Incorporated (CRD#: 7471), Salomon Smith Barney (CRD#: 7059), Lehman Brothers (CRD#: 7506), E.F. Hutton & Company (CRD#: 235), Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#: 7691), and Oppenheimer & Co. (CRD#: 630). Continue reading ›

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Demos Argyros (CRD#: 1325219), a currently-registered broker working for Oppenheimer & Co. (CRD# 249) in St. Louis, Missouri, is the subject of 5 disclosures on his FINRA BrokerCheck report. Argyros has been in the industry since 1985 and was previously registered at CIBC World Markets Corp. (CRD#: 630), Kemper Securities Group, Inc. (CRD#: 19616), Blunt Ellis & Loewi Incorporated (CRD#: 7580), and others.Demos Argyros (CRD#: 1325219), a currently-registered broker working for Oppenheimer & Co. (CRD# 249) in St. Louis, Missouri, is the subject of 5 disclosures on his FINRA BrokerCheck report.

Argyros has been in the industry since 1985 and was previously registered at CIBC World Markets Corp. (CRD#: 630), Kemper Securities Group, Inc. (CRD#: 19616), Blunt Ellis & Loewi Incorporated (CRD#: 7580), and others. Continue reading ›

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Steven Reznic (a/k/a Steven Paul Reznik, Steve Reznik) (CRD#: 1067199), a previously-registered broker who last worked for Raymond James Financial Services (CRD#: 6694) at their Tallahassee, Florida branch, is the subject of a remarkable 24 disclosures on his publicly-available FINRA BrokerCheck report. Reznic has been in the industry since 1982. Before joining Raymond James, Reznic worked for Pebsco Securities Corp. (CRD#: 7110), Integrated Resources Equity Corporation (CRD#: 6403), Dean Witter Reynolds Inc. (CRD#: 7556), and Metropolitan Life Insurance Company (CRD#: 4095).Steven Reznic (a/k/a Steven Paul Reznik, Steve Reznik) (CRD#: 1067199), a previously-registered broker who last worked for Raymond James Financial Services (CRD#: 6694) at their Tallahassee, Florida branch, is the subject of a remarkable 24 disclosures on his publicly-available FINRA BrokerCheck report.

Reznic has been in the industry since 1982. Before joining Raymond James, Reznic worked for Pebsco Securities Corp. (CRD#: 7110), Integrated Resources Equity Corporation (CRD#: 6403), Dean Witter Reynolds Inc. (CRD#: 7556), and Metropolitan Life Insurance Company (CRD#: 4095). Continue reading ›

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The Securities and Exchange Commission (SEC) announced that it obtained a temporary restraining order and filed an emergency enforcement action against Kenneth D. Courtright III and his company, Todays Growth Consultant Inc. The actions by the SEC are related to an alleged “Ponzi-like scheme” that raised more than $75 million from over 500 investors. The Income Store Promised High Returns The SEC’s complaint, unsealed Jan 14, 2020, states that Courtright and Todays Growth Consultant Inc. (TGC), which also did business under the name “The Income Store”, promised investors high rates of return from revenues from websites.The Securities and Exchange Commission (SEC) announced that it obtained a temporary restraining order and filed an emergency enforcement action against Kenneth D. Courtright III and his company, Todays Growth Consultant Inc.

The actions by the SEC are related to an alleged “Ponzi-like scheme” that raised more than $75 million from over 500 investors. Continue reading ›

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Michael Carter (Michael Barry Carter) (CRD: #3232017) is a former registered broker and investment advisor whose last employer was Morgan Stanley (CRD#: 149777) of McLean, VA.  His previous employers include Ameriprise Financial Services, Inc. (CRD#:6363), Morgan Stanley & Co. Incorporated (CRD#:8209) and Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691), also of McLean, VA. He has been in the industry since 1999. Carter’s record has five disclosures, three of which are customer disputes with settlements totaling $5,199,232.26

Michael Carter (Michael Barry Carter CRD# 1373405) is a barred broker who was formerly registered with Morgan Stanley (CRD# 149777) out of their McLean, Virginia branch office. He had previously worked for Ameriprise Financial Services, Inc. (CRD# 6363) in Vienna, Virginia. Carter had been in the securities industry since 1999.

Michael Carter Disclosures

Michael Carter’s publicly-available FINRA BrokerCheck report lists seven disclosures, including four customer disputes (all involving misappropriation or unauthorized withdrawals), one employment separation after allegations, and two regulatory disclosures. Continue reading ›

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Stefan Anton Pastor (CRD: #5141819) is a former registered broker and investment advisor whose last employer was Raymond James Financial Services, Inc. (CRD# 6694) of Fort Lauderdale, FL. Pastor was also dually registered with Raymond James and Provenance Wealth Advisors during this period. His previous employers include Walnut Street Securities, Inc. (CRD#:15840), also of Fort Lauderdale, and Ameriprise Financial Services, Inc. (CRD#:6363) of Plantation, FL. He has been in the industry since 2006. After a customer’s complaint of forgery and unauthorized trades to her account and false sales confirmations, both Raymond James Financial and Provenance Wealth Advisors discharged him. The client requested damages in the amount of $38,725.00, and the case was settled for $60,000.Stefan Pastor (Stefan Anton Pastor) (CRD: #5141819) is a former registered broker and investment advisor whose last employer was Raymond James Financial Services, Inc. (CRD# 6694) of Fort Lauderdale, FL. Pastor was also dually registered with Raymond James and Provenance Wealth Advisors during this period. His previous employers include Walnut Street Securities, Inc. (CRD#:15840), also of Fort Lauderdale, and Ameriprise Financial Services, Inc. (CRD#:6363) of Plantation, FL. He has been in the industry since 2006.

After a customer’s complaint of forgery and unauthorized trades to her account and false sales confirmations, both Raymond James Financial and Provenance Wealth Advisors discharged him. The client requested damages in the amount of $38,725.00, and the case was settled for $60,000. Continue reading ›

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James Thomas Booth Of LPL Financial Barred From Securities Industry For Operating Ponzi Scheme

James Thomas Booth (CRD# 1906145), the founder of Booth Financial Associates and a registered representative with LPL Financial LLC in Norwalk, Connecticut has been permanently barred by the both the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) from acting as a broker or investment adviser or otherwise associating with a broker-dealer or provider of securities and/or investment advice. Prior to joining LPL Financial in 2018, Booth was registered with Invest Financial Corporation. Continue reading ›

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Roger Owens (CRD# 2359204), a broker previously employed by Cetera Advisors LLC in Elkton, Maryland, has been suspended by the Financial Industry Regulatory Authority (FINRA) from acting as a broker. Owens worked for Cetera for the past decade. Owens began in the industry in 1994. His problems began when he started selling unregistered Woodbridge securities. In 2018, he settled a customer complaint for $45,000 arising out of the sale of Woodbridge Mortgage Investment Funds.  Among the allegations in that complaint were (1) violation of federal and state securities laws, (2) breach of contract and fiduciary duty, (3) common law fraud, and (4) negligence. Unfortunately, this complaint was only the tip of the iceberg.Roger Owens (CRD# 2359204), a broker previously employed by Cetera Advisors LLC in Elkton, Maryland, has been suspended by the Financial Industry Regulatory Authority (FINRA) from acting as a broker. Owens worked for Cetera for the past decade.

Owens began in the industry in 1994. His problems began when he started selling unregistered Woodbridge securities. In 2018, he settled a customer complaint for $45,000 arising out of the sale of Woodbridge Mortgage Investment Funds.  Among the allegations in that complaint were (1) violation of federal and state securities laws, (2) breach of contract and fiduciary duty, (3) common law fraud, and (4) negligence. Unfortunately, this complaint was only the tip of the iceberg. Continue reading ›

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Ricky Mantei (CRD# 1098981), a broker with Centaurus Financial, Inc. in Lexington, South Carolina is facing nine pending customer disputes as well as two regulatory disputes. Mantei has been with Centaurus since 2015, where he moved from the infamous J.P. Turner & Company, a firm that has since been shut down due to numerous regulatory issues. Previous employers also include Gunnallen Financial, Inc. and First Allied Securities, Inc.Ricky Mantei (CRD# 1098981), a broker with Centaurus Financial, Inc. in Lexington, South Carolina is facing nine pending customer disputes as well as two regulatory disputes. Mantei has been with Centaurus since 2015, where he moved from the infamous J.P. Turner & Company, a firm that has since been shut down due to numerous regulatory issues. Previous employers also include Gunnallen Financial, Inc. and First Allied Securities, Inc. Continue reading ›

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