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Articles Posted in FINRA Disciplinary Actions

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Jesse Krapf (CRD# 5467277) is a former registered broker last employed with SPARTAN CAPITAL SECURITIES, LLC (CRD# 146251) of New York, NY. His previous employers include Benchmark Investments, Inc. (CRD# 103792), Newbridge Securities Corporation (CRD# 104065), and Columbus Advisory Group, LTD. (CRD# 126331), all of New York. Three of his eleven previous employers have been expelled by FINRA.  He has been in the industry since 2008. Krapf has ten disclosures in his CRD, four of which are customer disputes. The most recent disclosure is a suspension from FINRA after Krapf failed to provide requested information. FINRA issued a suspension effective 4/6/2026 indefinitely. If Krapf does not request a termination of the suspension within three months, he will be permanently barred from the industry effective 6/29/2026. In a previous disciplinary action issued by FINRA on 10/30/2024, Krapf was suspended for five months after being found to have excessively traded in a senior customer’s account. The customer relied on Krapf’s advice in every sale, giving Krapf de facto control over the customer’s account. This was in violation of Rule 15l-1 of the Securities Exchange Act of 1934, known as Regulation Best Interest (Reg BI). Krapf’s trading in the customer’s account generated total trading costs of $96,496, including $92,847 in commissions, leading to $41,017 in total realized losses.Jesse Krapf (CRD# 5467277) is a former registered broker last employed with SPARTAN CAPITAL SECURITIES, LLC (CRD# 146251) of New York, NY. His previous employers include Benchmark Investments, Inc. (CRD# 103792), Newbridge Securities Corporation (CRD# 104065), and Columbus Advisory Group, LTD. (CRD# 126331), all of New York. Three of his eleven previous employers have been expelled by FINRA. He has been in the industry since 2008. Continue reading ›

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Francisco M Gomez (CRD# 6289883) is a former registered broker last employed with LPL Financial LLC (CRD# 6413) of Fate, TX. He was previously employed with BBVA Securities Inc. (CRD# 27060) of Mesquite, TX. He has been in the industry since 2016. Gomez has one customer dispute, dated 9/15/2025. The customer alleged that Gomez “Sold annuities in 2020 without disclosing all material terms. Client also provided loans below market rates to entities allegedly affiliated with advisor.” The customer requested damages of $395,869.90, and the dispute was settled for $190,000. LPL Financial permitted Gomez to resign on 11/5/2025 amid allegations that he “Failed to disclose and receive prior approval for loans from customer; failed to disclose and receive prior approval for outside business activities; and used an unapproved messaging platform to transmit business-related communications.” Following his discharge, FINRA began an investigation into his business dealings and requested information from Gomez. When he failed to respond to these requests, FINRA issued a three-month suspension effective 4/6/2026. If Gomez fails to respond to FINRA’s requests by 6/16/2026, he will be permanently barred from any association with any FINRA member in any capacity.Francisco M Gomez (CRD# 6289883) is a former registered broker last employed with LPL Financial LLC (CRD# 6413) of Fate, TX. He was previously employed with BBVA Securities Inc. (CRD# 27060) of Mesquite, TX. He has been in the industry since 2016. Continue reading ›

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Sung Moo Cho (CRD# 5015906; aka, “Sam Cho Mr,” “Sam Cho,”) Is a former registered broker and investment advisor last employed by Citigroup Global Markets Inc. (CRD#:7059) of New York, NY. His previous employers include Ameriprise Financial Services, LLC (CRD#:6363) of Hauppauge, NY, Mutual Of America Life Insurance Company (CRD#:15356) and Joseph Stone Capital, L.L.C. (CRD#:159744), also of New York, NY. He has been in the industry since 2006. Citigroup discharged Cho on April 14th, 2026, under allegations he utilized a customer’s personally identifiable information and forged a signature to create a falsified “non-firm generated” statement. These statements were used to misappropriate $3.5M of a customer’s investment funds. Cho engaged in these activities while employed with both Citigroup and Ameriprise. Following a customer complaint regarding Cho’s forging of their signature and misappropriation of $3.5 million from their brokerage account, FINRA initiated an investigation into Cho’s business practices. Sung Moo Cho (CRD# 5015906; aka, “Sam Cho Mr,” “Sam Cho,”) Is a former registered broker and investment advisor last employed by Citigroup Global Markets Inc. (CRD#:7059) of New York, NY. His previous employers include Ameriprise Financial Services, LLC (CRD#:6363) of Hauppauge, NY, Mutual Of America Life Insurance Company (CRD#:15356) and Joseph Stone Capital, L.L.C. (CRD#:159744), also of New York, NY. He has been in the industry since 2006. Continue reading ›

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William Tunink (William Bernard Tunink, aka, “Bill Tunink” CRD# 2738224) is a former registered broker and investment advisor last registered with LPL Financial LLC (CRD# 6413) of West Des Moines, IA. He was previously employed with Avantax Investment Services, Inc. (CRD# 13686), also of West Des Moines. He has been in the industry since 1996. Tunink is the subject of 26 disclosures, primarily customer disputes. LPL Financial discharged Turnink on 9/8/2025 because he “Failed to disclose and receive prior approval for loans from customers; and settled a customer complaint away from the Firm.” It is unknown which customer complaint he settled on his own. FINRA issued a suspension, effective 4/6/2026, after Tunink failed to provide requested information to the agency for its investigation. Tunink is suspended in all capacities from association with any FINRA member. The suspension is effective until he provides FINRA with the requested information. Should Tunink fail to act, or request that his suspension be lifted within three months, the suspension is permanent as of 6/16/2026. William Tunink (William Bernard Tunink, aka, “Bill Tunink” CRD# 2738224) is a former registered broker and investment advisor last registered with LPL Financial LLC (CRD# 6413) of West Des Moines, IA. He was previously employed with Avantax Investment Services, Inc. (CRD# 13686), also of West Des Moines. He has been in the industry since 1996. Continue reading ›

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Broker Dustin Smith (Dustin Allen Smith CRD# 2803156) is a registered broker and investment advisor currently employed with Citizens Securities, Inc. (CRD# 39550) of Naples, FL 34103. He was previously employed with Citizens Private Wealth (CRD# 106743, investment advisor only) of Tarrytown, NY, RBC Capital Markets, LLC (CRD# 31194) of Naples, FL, and UBS Financial Services Inc. (CRD# 8174), also of Naples.  He has been in the industry since 1996. Smith is the subject of two disclosures. The most recent, filed on 12/2/2025, is a customer dispute alleging that Smith invested all his clients’ retirement assets in “illiquid structured notes.” They request damages of $2M. No additional information is available, and this claim is pending. In a previous client dispute dated 10/16/2013, the client alleged that due to an incorrect address and failures to update, the client’s policy lapsed, and they missed a death benefit. They requested damages of $330,000.00 and were denied by the firm and refuted by Smith.Broker Dustin Smith (Dustin Allen Smith CRD# 2803156) is a registered broker and investment advisor currently employed with Citizens Securities, Inc. (CRD# 39550) of Naples, FL 34103. He was previously employed with Citizens Private Wealth (CRD# 106743, investment advisor only) of Tarrytown, NY, RBC Capital Markets, LLC (CRD# 31194) of Naples, FL, and UBS Financial Services Inc. (CRD# 8174), also of Naples.  He has been in the industry since 1996. Continue reading ›

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In a recent article on InvestmentNews, Silver Law Group founding attorney Scott Silver spoke about FINRA's decision to award $49.2 million to 102 investors with accounts with Worden Capital Management, LLC. The investors alleged that their accounts were fraudulently churned and excessively traded for commissions. The company and its founder, Jamie Worden, were found to have used the investor's money as “personal slush funds.” "At the end of the day, Axos served as the clearing firm for a notorious Wall Street boiler room,” Scott said. “Axos had full transparency into Worden’s business."  As the clearinghouse for all of Worden’s transactions, Axos knew what Worden was doing but did nothing to stop any activity they knew (or should have known) was illegal.  FINRA’s award stated that Worden Capital and its brokers were engaged "in egregiously unsuitable and excessive trading and churning, garnering over $16 million in commissions and fees while costing nearly all of [clients] out-of-pocket losses of over $12 million.”In a recent article on InvestmentNews, Silver Law Group founding attorney Scott Silver spoke about FINRA’s decision to award $49.2 million to 102 investors with accounts with Worden Capital Management, LLC. The investors alleged that their accounts were fraudulently churned and excessively traded for commissions. The company and its founder, Jamie Worden, were found to have used the investor’s money as “personal slush funds.” Continue reading ›

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According to FINRA Disciplinary actions for June 2026, 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
Eugene W. Antosh Ameriprise Financial Services, LLC

Edward Jones

Metlife Investors Distribution
Carolyn Marie Dammeyer W&S Brokerage Services, Inc.
Matthew Adam North Jackson National Life Distribution

Geneos Wealth Management, Inc.

Scottrade, Inc.
Patrick Michael Roraff

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According to FINRA Disciplinary actions for June 2026, the following individuals were suspended from FINRA and currently cannot 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
Clinton Edmund Galloway Drum Capital Corp

Private Investors Equity Group

First Street Securities Corp.
Francisco M. Gomez  LPL Financial LLC

BBVA Securities Inc.
Chihyu Jerry Hsu Park Avenue Securities LLC

Northwestern Mutual Investments

Morgan Stanley
Jesse D. Krapf Spartan Capital Securities, LLC

Benchmark Investments, Inc.

Newbridge Securities Corporation
William David Miller  Osaic Wealth, Inc.

Osaic FS, Inc.

Woodbury Financial Services, Inc.
William Hohill Song LPL Financial LLC

Wells Fargo Clearing Services, LLC

Citigroup Global Markets Inc.
William Bernard Tunink LPL Financial LLC

Avantax Investment Services, Inc.

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According to FINRA Disciplinary actions for June 2026, 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
James Keith Cox  Newbridge Securities Corporation

Stifel, Nicolaus & Company, In

Sterne, Agee & Leach, Inc.
Brendan Stephen Kammerer  Ameriprise Financial Services, LLC

Oppenheimer & Co. Inc.

Wells Fargo Clearing Services, LLC
Glenn J. Romer  Center Street Securities, Inc.

Lincoln Financial Securities
Serge Suleimani  Cetera Investment Advisers LLC

Cetera Wealth Services, LLC

Cetera Advisors Network LLC

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David Nathan Cohen (CRD# 5083883) is a former registered broker and investment advisor who was last employed with Cetera Investment Services LLC (CRD# 15340) of Yonkers, NY, and previously employed with Foresters Financial Services, Inc. (CRD# 305) in New York, NY. He has been in the industry since 2006. Cetera Investment Services discharged Cohen on 12/9/2025 after he continued to conduct business while he was suspended. The suspension was from allegations that he was directly collecting funds and using them to fund outside business activities. Cohen also refused to cooperate with the firm’s internal review process.David Nathan Cohen (CRD# 5083883) is a former registered broker and investment advisor who was last employed with Cetera Investment Services LLC (CRD# 15340) of Yonkers, NY, and previously employed with Foresters Financial Services, Inc. (CRD# 305) in New York, NY. He has been in the industry since 2006. Continue reading ›

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