Securities Arbitration Lawyers Blog

This New York broker is permanently barred from the securities industry. In November 2015, New York broker Joshua Gladtke consented to the sanction and entry of findings in a FINRA investigation. As a result, Gladtke is now permanently barred from the securities industry. With 13 years in the securities industry,…

Florida stockbroker suspended from securities activity for 6 months due to misconduct Walter P. Priebe, from Pompano Beach, FL, is accused of engaging in outside business activities without telling his registered firm, Investacorp. Priebe worked for Investacorp between March 1989 and July 2014, when his position in that company was…

The Financial Industry Regulatory Authority Inc. (“FINRA”) charged a broker for lying to a Native American tribe about $11 million in commissions he accumulated when he sold the tribe $190 million in nontraded real estate investment trusts and business development companies. According to the complaint, Gopi Krishna Vungarala (CRD# 4856193),…

Broker James Michael Johnson faces a two-year suspension and $50,000 fine for negligent misrepresentations and omissions. In November 2015, James Michael Johnson agreed to FINRA sanctions and the entry of findings that he made negligent misrepresentations and omissions regarding securities investments to customers of his member firm without the firm’s…

Nevada financial broker permanently barred from all FINRA activity after taking advantage of elderly clients Henderson, NV broker Glenn Moffitt was permanently barred from all FINRA activity for allegedly misappropriating funds from elderly clients between 2011-2014.  According to his FINRA report, Moffitt is accused of misappropriating at least $370,000 and…

Silver Law Group is investigating allegations made by the Financial Industry Regulatory Authority (“FINRA”) against former Hollywood, Florida broker Daniel G. Kasbar (CRD# 5869994). FINRA barred Kasbar from the securities industry for failing to respond to FINRA’s requests for documents and information. FINRA was investigating Kasbar for allegedly engaging in…

Silver Law Group is investigating claims related to West Palm Beach, Florida broker Paul V. Blum (CRD # 735003). We have recently been retained to pursue a securities arbitration claim against RBC Capital Markets, LLC (“RBC”), Blum’s former brokerage firm, alleging, amongst other issues, that RBC and Blum engaged in…

New York broker Alain Florestan faces allegations of misconduct and unsuitable trading. After 16 years in the securities industry, New York financial broker Alain Florestan is no longer registered to act as a financial advisor or representative in the securities industry. During his career, Florestan experienced 10 disclosure events reported…

Ineffective supervision leads to FINRA suspension of financial services provider Roman T. Luckey, formerly registered with Newport Coast Securities Inc., was fined $15,000 and also suspended for 14 months by the Financial Industry Regulatory Authority (FINRA) in August 2015 for failure to appropriately supervise his staff, who were taking advantage…

The Securities and Exchange Commission announced fraud charges against a Manhattan-based lending company and its placement agent for falsely stating that its financial statements were being audited and lying about the returns on the loans. The SEC filed a complaint in federal district court in Manhattan against lending company American…