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Did your broker recommend buying shares in Document Security Systems (DSS) which was underwritten by Aegis Financial?   Document Security Systems, Inc., is a multinational company now known as DSS that operates a variety of business segments including healthcare, direct marketing, consumer packaging, real estate, renewable energy, blockchain security, and securitized digital assets. The company’s prospectus filed with the SEC indicates that the company's focus is fraud and counterfeit protections for printed documents and digital assets and information. The company also holds multiple technology patents to prevent unauthorized copying and scanning.  SLCG Report Highlighting Aegis Financial  According to a recent report by SLCG Economic Consulting, DSS is one of many companies whose stocks would have been delisted had Aegis not continued underwriting them in order to resell them to its customers, costing investors billions of dollars in losses.  Did your broker recommend buying shares in Document Security Systems (DSS) which was underwritten by Aegis Financial?

Document Security Systems, Inc., is a multinational company now known as DSS that operates a variety of business segments including healthcare, direct marketing, consumer packaging, real estate, renewable energy, blockchain security, and securitized digital assets. The company’s prospectus filed with the SEC indicates that the company’s focus is fraud and counterfeit protections for printed documents and digital assets and information. The company also holds multiple technology patents to prevent unauthorized copying and scanning.  Continue reading ›

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According to FINRA Disciplinary actions for March 2025, 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
Mark Brosa Ameriprise Financial Services, LLC
Edward Jones
Ryan Clayton Merrill Lynch, Pierce, Fenner & Smith Incorporated
First Citizens Investor Services, Inc.
Christopher Hale
Cassandra Heitz LPL Financial LLC
Investment Centers of America, Inc.
Desmond James-Jones Equitable Advisors, LLC
AXA Advisors
Peter Lawrence American Portfolios Financial Services, Inc.
Questaer Capital Corporation
Gustavo Miramontes Oppenheimer & Co. Inc.
Wedbush Securities Inc.
Ryan Taleghani Morgan Stanley
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Vanessa Webber

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According to FINRA Disciplinary actions for March 2025, 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
Yiu Yeung Pacific Century Securities, LLC
Michael Banks Morgan Stanley
Fidelity Brokerage Services LLC
Juan Gomez
Eunice Carreira
Joscelyn Cockburn Innovation Partners LLC
FSC Securities Corporation
Janelle English
Juan Chavez J.P. Morgan Securities LLC
Sara Jankowski Stifel, Nicolaus & Company, Incorporated
City Securities Corporation
David Love LaSalle St Securities, LLC
ICMA-RC Services, LLC
James Marrero American Portfolios Financial Services, Inc.
BCG Securities, Inc.
Emma McAuley Edward Jones
Marques Mcleon NYLife Securities LLC
Jennifer Nelson Edward Jones
Robert Ornelas Northwestern Mutual Investment Services, LLC
Luis Castanon J.P. Morgan Securities LLC
Michael Russo Spartan Capital Securities, LLC
Craft Capital Management LLC
Edgar Shanoyan Merrill Lynch, Pierce, Fenner & Smith Incorporated
Purshe Kaplan Sterling Investments
Robert Thomas IBN Financial Services, Inc.
Avantax Investment Services, Inc.
James Turpin USA Financial Services Corporation
United Planners’ Financial Services of America A Limited Partner

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According to FINRA Disciplinary actions for March 2025, 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
Steven Blanchard LPL Financial LLC
Raymond James Financial Services, Inc.
Michael Fasciglione Aegis Capital Corp.
National Securities Corporation
Michael Magruder Raymond James & Associates, Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Kyle Manning Spartan Capital Securities, LLC
Southeast Investments, N.C., Inc.
James Mariani Aegis Capital Corp.
National Securities Corporation
Kevin Reed U.S. Bancorp Investments, Inc.
PNC Investments
Mario Rivero Jr. LPL Financial LLC
Wells Fargo Clearing Services, LLC
John Schlagheck Cape Securities Inc.
Intervest International Equities Corporation

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Brokerage firm Aegis Capital’s track record has come under fire after SLCG Economic Consulting published a report on the firm’s offerings in the last few years. The report calls Aegis Capital a “farm-to-table securities fraud purveyor” after their underwriting and subsidizing of consistently failing small cap stock companies. Aegis' underwriting included propping up companies “constantly on the verge of delisting and bankruptcy.” These failing stocks were sold to Aegis' retail brokerage customers, then traded and re-traded “at significant markups and markdowns,” with considerable financial incentives for brokers who did. Trading in these worthless stocks led to Aegis’ investors losing at least $5 billion, according to the report. These companies included:Brokerage firm Aegis Capital’s track record has come under fire after SLCG Economic Consulting published a report on the firm’s offerings in the last few years. The report calls Aegis Capital a “farm-to-table securities fraud purveyor” after their underwriting and subsidizing of consistently failing small cap stock companies. Continue reading ›

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On Sunday, February 26, 2025, Almir Ocanto, a Venezuelan national, was found dead in Broward County. He was wanted in connection with multiple warrants related to financial fraud and scams perpetrated primarily online. Silver Law Group represents victims who were defrauded by Ocanto. According to news stories, operating as a “Bróker financial,” Ocanto promised his clients high returns and three months of interest payments. Ocanto never made any of these payments and “disappeared” with his client’s funds. More than 20 individuals were defrauded by Ocanto, with the missing amount of money totaling over $1 million. Most of his victims were Venezuelans who invested with him online.On Sunday, February 16, 2025, Almir Ocanto, a Venezuelan national, was found dead in Broward County. He was wanted in connection with multiple warrants related to financial fraud and scams perpetrated primarily online. Silver Law Group represents victims who were defrauded by Ocanto. Continue reading ›

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According to FINRA Disciplinary actions for February 2025, 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 Franden Raymond James & Associates, Inc.
Morgan Stanley

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According to FINRA Disciplinary actions for January 2025, 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
Sebastian Bongiovanni Spartan Capital Securities, LLC
Newbridge Securities Corporation
Luke Brooks U.S. Bancorp Investments, Inc.

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According to FINRA Disciplinary actions for January 2025, 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
Michael Barrows M Stevens Securities, LLC
Kingswood Capital Partners, LLC
Eric Ludovico M Stevens Securities, LLC
Kingswood Capital Partners, LLC
Edgar Olmeda Maximum Financial Investment Group, Inc.
Avalon Partners, Inc.
Michael Paesano Morgan Stanley
UBS Financial Servies Inc.
Stephen Pendergast Wells Fargo Clearing Services, LLC
RBC Capital Markets, LLC
Vincent Sharpe Paulson Investment Company, LLC
PHX Financial, Inc.

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According to FINRA Disciplinary actions for January 2025, 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
Iam Aguilar Fidelity Brokerage Services LLC
Eunice Carreira
Juan Garcia J.P. Morgan Securities LLC
Wyman Sai J.P. Morgan Securities LLC
Joseph Seidler RBC Capital Markets, LLC
Wells Fargo Clearing Services Inc.
James Turpin USA Financial Securities Corporation
United Planners’ Financial Services of America A Limited Partner

Continue reading ›

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