Articles Posted in Churning

Erik Patrick Pica (CRD #4829533) is a currently registered broker employed with Joseph Stone Capital L.L.C. (CRD #159744) of New York, NY. His previous employers include Global Arena Capital Corp (CRD #16871, expelled by FINRA on 4/1/2016), First Midwest Securities, Inc. (CRD #21786), Chicago Investment Group, LLC (CRD #11853, expelled…

Peter Michael Malis (CRD #317892) is a registered broker and investment advisor currently employed with Wells Fargo Clearing Services, LLC (CRD #19616) of Woodland Hills, CA. His previous employers include Prudential Securities Incorporated (CRD #7471) of New York, NY, Bache Halsey Stuart Inc. (CRD #7238) and Paine, Webber, Jackson &…

Michael Christopher Venturino (CRD #5872439) is a registered broker currently employed with Spartan Capital Securities, LLC (CRD #146251) of Garden City, NY. His previous employers include Trident Partners Ltd. (CRD #41258) of Woodbury, NY and Aegis Capital Corp. (CRD #15007) of Melville, NY.  Two other prior employers, Craig Scott Capital,…

Roy Joseph Failla (CRD #2786551) is a registered broker who is currently employed with First Standard Financial Company LLC (CRD #168340) of Red Bank, NJ. His previous employers include Alexander Capital, L.P. (CRD #40077), Brookstone Securities, INC. (CRD #13366, expelled by FINRA on 10/09/2012) and J.P. Turner & Company, L.L.C.…

James Edward Lyons (CRD #1020397) is a former broker and investment advisor who was last registered with Raymond James & Associates, Inc. (CRD #705) of Shreveport, LA. He was previously employed by Morgan Keegan & Company, Inc. (CRD #4161), also of Shreveport, and Capitol Securities Group, Inc. (CRD #8094). No…

A man whose account was churned down to $10,000 was awarded both compensatory damages of $375,000 for his original investment plus an additional $700,000 in punitive damages. The client, Herbert W. Voss, was awarded $1.075 million by FINRA. Mr. Voss’ attorney was quoted as saying that “It was like the…

Ralph Michael Byer (CRD #1038411) is a registered broker and investment advisor currently employed with Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD #7691) of Plantation, Florida, where he has been since 1982. Byer has a total of seven disclosures, all of them customer disputes. The most recent was filed…

Back in June, we told you about Yousuf Saljooki (CRD #5045123), who was suspended by the state of Arkansas after failing to disclose an outstanding federal tax lien. This failure led to his discharge of employment by Worden Capital. He was previously discharged by SW Financial in 2017 for opening…

Cory Bataan (CRD #2755223) has been employed with Emoire Asset Management Company since April 2008. Previous employment includes Empire Asset Management Company from April 2008 to August 2012, Ameritas Investment Corp. from December 2007 to April 2008 and Joseph Stevens & Company, Inc. from October 1996 to July 2001. According…

John Maloney (CRD #726108) has been employed by Woodbury Financial Services Inc. since June 2016. Maloney was previously employed by Edward Jones from January 1981 to June 2016. According to the FINRA BrokerCheck, there have been several complaints against Mr. Maloney.  In 2016 Claimants allege Mr. Maloney’s recommendations to purchase…