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Silver Law Group filed another FINRA arbitration claim on behalf of clients against Voya Financial Advisors regarding its former employee James Flynn (CRD# 3082615) of Greenville, South Carolina.The claim requests compensatory damages for our clients, and alleges that Voya failed to supervise Flynn’s conduct while he was working for them relating to the sale of Phillip Edison REIT, Business Development Corp of America (BDC), and other investments.Silver Law Group filed another FINRA arbitration claim on behalf of clients against Voya Financial Advisors regarding its former employee James Flynn (CRD# 3082615) of Greenville, South Carolina.

The claim requests compensatory damages for our clients, and alleges that Voya failed to supervise Flynn’s conduct while he was working for them relating to the sale of Phillip Edison REIT, Business Development Corp of America (BDC), and other investments. Continue reading ›

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The news keeps getting worse for GPB Capital. The troubled company reported Friday that the value of its two biggest investment funds, GPB Holdings II and GPB Automotive Portfolio, have declined by 25% and 39%, respectively.The other five GPB funds also have significant declines in value, according to the company.The news keeps getting worse for GPB Capital. The troubled company reported Friday that the value of its two biggest investment funds, GPB Holdings II and GPB Automotive Portfolio, have declined by 25% and 39%, respectively.

The other five GPB funds also have significant declines in value, according to the company. Continue reading ›

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Herbert Hafen (CRD#: 867068, aka Elias Herbert Hafen, E Herbert Niggebrugge, Elias Niggebrugge) is a former registered broker and investment advisor whose last employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of New York, NY. Hafen’s previous employers include Morgan Stanley (CRD#:149777 and CRD#: 8209), and Bear Sterns (CRD#: 79), also of New York City. He has been in the industry since 1979. Hafen was discharged by Wells Fargo on 8/21/2018, after “entering into financial arrangements with clients that were not approved by the firm.”Herbert Hafen (CRD#: 867068, aka Elias Herbert Hafen, E Herbert Niggebrugge, Elias Niggebrugge) is a former registered broker and investment advisor whose last employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of New York, NY. Hafen’s previous employers include Morgan Stanley (CRD#:149777 and CRD#: 8209), and Bear Sterns (CRD#: 79), also of New York City. He has been in the industry since 1979.

Hafen was discharged by Wells Fargo on 8/21/2018, after “entering into financial arrangements with clients that were not approved by the firm.” Continue reading ›

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Christopher Charles Hellman (CRD#: 6584084) is a formerly registered broker and investment advisor whose last employer was Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Boca Raton, FL. His previous employer was FMSBONDS, INC. (CRD#:7793), of North Miami Beach, FL. No current employment information is available. He has been in the industry since 2016.Merrill Lynch discharged Hellman on 9/20/2018 after he was found to be selling away (selling products not sold or endorsed by the firm) and failing to disclose outside business activities he was involved in while employed.Christopher Charles Hellman (CRD#: 6584084) is a formerly registered broker and investment advisor whose last employer was Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Boca Raton, FL. His previous employer was FMSBONDS, INC. (CRD#:7793), of North Miami Beach, FL. No current employment information is available. He has been in the industry since 2016.

Merrill Lynch discharged Hellman on 9/20/2018 after he was found to be selling away (selling products not sold or endorsed by the firm) and failing to disclose outside business activities he was involved in while employed. Continue reading ›

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Adam Michael Lopez (CRD#: 5562750) is a former registered broker who was last employed with Country Capital Management Company (CRD#:12060) of Springfield, IL, from 09/16/2008 through 09/21/2018. No current employment information is available. He has been in the industry since 2018.Country Capital terminated Lopez on 9/21/2016 for violations of provisions in his insurance services contract. His actions were not related to securities, and his U5 termination form was later updated to include an investigation by a “domestic or foreign governmental body or self-regulatory organization with jurisdiction over investment-related business.”Adam Michael Lopez (CRD#: 5562750) is a former registered broker who was last employed with Country Capital Management Company (CRD#:12060) of Springfield, IL, from 09/16/2008 through 09/21/2018. No current employment information is available. He has been in the industry since 2018.

Country Capital terminated Lopez on 9/21/2016 for violations of provisions in his insurance services contract. His actions were not related to securities, and his U5 termination form was later updated to include an investigation by a “domestic or foreign governmental body or self-regulatory organization with jurisdiction over investment-related business.” Continue reading ›

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Dudley Stevens (CRD#: 4119268, aka “Stephen Franklin Dudley”) is a previously registered broker and investment advisor whose last known employer was Coastal Equities, Inc. (CRD#:23769) of New York, NY. Previous employers include Prospera Financial Services, Inc. (CRD#:10740), Wells Fargo Advisors, LLC (CRD#:19616), and HSBC Securities (USA) INC. (CRD#:19585), also of New York City.  In addition to New York, he has also worked in Birmingham, AL, Dallas, TX, Boca Raton, FL, and Carle Place, NJ. He has been in the industry since 2000.Coastal Equities terminated Stevens’ employment on 7/20/2018 after he was “reviewed for suspicious letters of authorization concerning third party wires.”  No additional information is available, and Coastal Equities was his most recent broker registration.Dudley Stevens (CRD#: 4119268,aka “Stephen Franklin Dudley”) is a previously registered broker and investment advisor whose last known employer was Coastal Equities, Inc. (CRD#:23769) of New York, NY. Previous employers include Prospera Financial Services, Inc. (CRD#:10740), Wells Fargo Advisors, LLC (CRD#:19616), and HSBC Securities (USA) INC. (CRD#:19585), also of New York City.  In addition to New York, he has also worked in Birmingham, AL, Dallas, TX, Boca Raton, FL, and Carle Place, NJ. He has been in the industry since 2000. Continue reading ›

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John Spach (CRD#: 2731192) is a former registered broker and investment advisor whose last known employer was Kestra Investment Services, LLC (CRD#: 42046) of Aliso Viejo, CA. His previous employers include Financial Telesis Inc (CRD#: 31012) and Financial West Group (CRD#: 16668), both of Westlake Village, CA, and Sentra Securities Corporation (CRD#: 10249) of Phoenix, AZ. He has been in the industry since 1996.Spach has three disclosures, all within a one-year time frame. The first was filed on 2/6/2018, after Spach introduced a non-firm client of his own independent registered investment advisor (RIA) to an outside investor. This client invested $450,000 into a promissory note with the outside investor. This activity took place completely outside of Kestra’s auspices, and the note later defaulted. The client informed Spach of the defalt, and Spach agreed to settle the account and reimburse the client for the full $450,000, plus interest until paid.John Spach (CRD#: 2731192) is a former registered broker and investment advisor whose last known employer was Kestra Investment Services, LLC (CRD#: 42046) of Aliso Viejo, CA. His previous employers include Financial Telesis Inc (CRD#: 31012) and Financial West Group (CRD#: 16668), both of Westlake Village, CA, and Sentra Securities Corporation (CRD#: 10249) of Phoenix, AZ. He has been in the industry since 1996. Continue reading ›

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William Christian Gennity (CRD#: 4913490, aka “Billy Christian Gennity”) is a former registered broker whose last known employer was First Standard Financial Company LLC (CRD#: 168340) of Staten Island, NY. Previous employers include Alexander Capital, L.P. (CRD#: 40077) and Legend Securities, Inc. (CRD#: 44952, expelled by FINRA on 4/17/2017), both of New York City, and National Securities Corporation (CRD#: 7569) of Iselin, NJ. No current employment information is available. He began in the industry in 2005.Gennity is the subject of twelve disclosures dating back to 2014, eight of which are customer disputes, two closed with no actions. Four of these are regulatory/civil matters involving the Securities and Exchange Commission (SEC), the State of Montana, and the Financial Industry Regulatory Association (FINRA), barring him from any and all association with broker-dealers and acting as a broker or in any other capacity.William Christian Gennity (CRD#: 4913490, aka “Billy Christian Gennity”) is a former registered broker whose last known employer was First Standard Financial Company LLC (CRD#: 168340) of Staten Island, NY. Previous employers include Alexander Capital, L.P. (CRD#: 40077) and Legend Securities, Inc. (CRD#: 44952, expelled by FINRA on 4/17/2017), both of New York City, and National Securities Corporation (CRD#: 7569) of Iselin, NJ. No current employment information is available. He began in the industry in 2005. Continue reading ›

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Broker Yassin Mohamed (CRD #1673281) is a barred broker who formerly worked for National Securities Corporation (CRD#: 7569). His other former employers include Morgan Stanley (CRD#: 149777), UBS Financial Services Inc. (CRD#: 8174), and Prudential Securities Incorporated (CRD#: 7471).Mohamed is the subject of five disclosures, including 2 customer disputes, 2 regulatory disputes, and 1 termination.The first customer dispute was filed on 2/7/2017, and “Claimant alleged, inter alia, excessive trading with respect to trust accounts – 2012 to 2016.” The claimants requested damages of $3,500,000. The case was settled for $457,034.Broker Yassin Mohamed (CRD #1673281) is a barred broker who formerly worked for National Securities Corporation (CRD#: 7569). His other former employers include Morgan Stanley (CRD#: 149777), UBS Financial Services Inc. (CRD#: 8174), and Prudential Securities Incorporated (CRD#: 7471).

Mohamed is the subject of five disclosures, including 2 customer disputes, 2 regulatory disputes, and 1 termination. Continue reading ›

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David Howard Fagenson (CRD#: 1652012) is a previously registered broker and current investment advisor whose last employer was Newbridge Securities Corporation (CRD#:104065) of Boca Raton, FL. His previous employers include UBS Financial Services Inc. (CRD#:8174) of Palm Beach, FL, Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of West Palm Beach, FL, and Morgan Stanley DW Inc. (CRD#:7556) of Purchase, NY. No current employment information is available. He has been in the business since 1987.FINRA suspended Fagenson for exercising de facto control over the accounts of three senior investors without their consent, making unsuitable trades, losing money from the accounts and generating excess commissions for himself and his firm while at UBS. Fagenson was found to have engaged in “quantitatively unsuitable trading” in three accounts of senior investors, between January 2012 and September 2016. David Howard Fagenson (CRD#: 1652012) is a previously registered broker and current investment advisor whose last employer was Newbridge Securities Corporation (CRD#:104065) of Boca Raton, FL. His previous employers include UBS Financial Services Inc. (CRD#:8174) of Palm Beach, FL, Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of West Palm Beach, FL, and Morgan Stanley DW Inc. (CRD#:7556) of Purchase, NY. No current employment information is available. He has been in the business since 1987. Continue reading ›

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