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Articles Posted in Stockbroker Misconduct

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According to FINRA Disciplinary actions for February 2022, 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
  Christ Baltas   Worden Capital Management LLC
  Wilmington Capital Securities, LLC
  Timothy Flynn   Trident Partners Ltd.
  First Montauk Securities Corp.
  Robert Satterfield   Morgan Stanley
  UBS Financial Services Inc.
  George Schmidt, Jr.   Lincoln Financial Advisors Corporation
  Horner, Townsend & Kent, Inc.
  Keith Wakefield   IFS Securities
  IFS Capital Markets, LLC

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According to FINRA Disciplinary actions for February 2022, 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
  Joshua Baker   State Farm VP Management Corp.
  Anthony Bookman   Seaport Global Securities, LLC
  Pickwick Capital Partners, LLC
  Bernard Chevalier
  Michael Dorband   Berthel Fisher & Company Financial Services Inc.
  U.S. Bancorp Investments, Inc.
  Ian Ha   Infinity Financial Services
  AXA Advisors, LLC
  Ikea Huggins
  Narith Long   NYLife Securities LLC
  Northwestern Mutual Investment Services, LLC
  Frank Mathis   Fidelity Brokerage Services LLC
  TD Ameritrade, Inc.
  Christopher Ogbuehi
  Noe Ramirez III   Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Chase Investment Services Corp.
  Scarlett Ramsey   NYLife Securities LLC
  Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Bobby Sullins   BB&T Securities, LLC
  BB&T Investment Services, Inc.

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Robert Anthony Guidicipietro (CRD#: 1588069, aka “Robert A. Peters”) is a currently registered broker and investment advisor employed at Alexander Capital, L.P. (CRD#: 40077) of New York, NY. His previous employers include Arive Capital Markets (CRD#:8060) of Bay Ridge, NY, Aegis Capital Corp. (CRD#:15007), Holmdel, NJ, and Obsidian Financial Group, LLC (CRD#:104255, expelled by FINRA on 10/16/2013) of Red Bank, NJ. He has been in the industry since 1991. The most recent allegation of misconduct came from Guidicipietro’s tenure at Arive. From January 2019 through November 2019, Guidicipietro engaged in “excessive and unsuitable trading, including the use of margin” in the account of an elderly investor. The client, a 78-year-old retired supervisor from New York's Metropolitan Transit Authority, had a conservative investment objective and was not a seasoned investor. Guidicipietro then recommended to the client that he place a total of 56 trades in his account, all of which were on margin. Because the account setup with a cost-to-equity ratio of 34 required the customer’s account to grow by more than 34% to break even, the customer ultimately lost $35,219.74 in fees and commissions.Robert Anthony Guidicipietro (CRD#: 1588069, aka “Robert A. Peters”) is a currently registered broker and investment advisor employed at Alexander Capital, L.P. (CRD#: 40077) of New York, NY. His previous employers include Arive Capital Markets (CRD#:8060) of Bay Ridge, NY, Aegis Capital Corp. (CRD#:15007), Holmdel, NJ, and Obsidian Financial Group, LLC (CRD#:104255, expelled by FINRA on 10/16/2013) of Red Bank, NJ. He has been in the industry since 1991. Continue reading ›

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Alan Appelbaum (Alan Zelig Appelbaum, CRD#: 500336) is a previously-registered broker who last worked for Aegis Capital Corp. in their Boca Raton, FL office. Appelbaum previously worked for Herbert J. Sims & Co. Inc., Ryan, Beck & Co., LLC, Gruntal & Co., LLC, and several other firms. He had been in the industry since 1976. Aegis Financial In Boca Raton, Florida FINRA recently ordered Aegis Capital Corp. to Pay $1.7 Million in restitution to customers whose accounts were excessively and unsuitably traded commonly referred to as churning. Also, two supervisors were fined and a supervisor was suspended for failing to respond to red flags and a financial advisor was sanctioned. Excessive trading frequently leads to customer losses because the fees and commissions reduce the principal value of the account and requires even greater profits for the investor to break even. Aegis has been the subject of multiple securities arbitration claims involving allegations of excessive trading, churning and unsuitable recommendations. Alan Appelbaum – Boca Raton Florida- Aegis Financial Appelbaum has 18 disclosures on his publicly-available FINRA BrokerCheck report, including 14 customer disputes: May, 2021: A customer dispute alleged unsuitable investments and requested $550,000 in damages. The dispute is pending as of this writing.

Alan Appelbaum (Alan Zelig Appelbaum, CRD# 500336) is a previously registered broker who last worked for Aegis Capital Corp. in their Boca Raton, FL office. Appelbaum previously worked for Herbert J. Sims & Co. Inc., Ryan, Beck & Co., LLC, Gruntal & Co., LLC, and several other firms. He had been in the industry since 1976. Continue reading ›

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If Emerson Equity sold you an L Bond from GWG Holdings, Silver Law Group may be able to help you recover your investment losses. Silver Law Group currently represents GWG L Bonds investors. Please contact us at 800-975-4345 for a no-cost, confidential consultation. Emerson Equity works with GWG to sell L Bonds to the investors. Some investors have already retained counsel to pursue FINRA arbitration claims against their financial advisor, alleging that reasonable due diligence was not conducted into the product or that the bonds were unsuitable for them. Silver Law Group has spoken to investors who claim their Emerson Equity advisor told them that GWG L Bonds were a safe and secure source of income. In reality, L Bonds involve considerable risk and speculation. They are also illiquid, meaning investors aren’t able to convert them to cash easily.If Emerson Equity sold you an L Bond from GWG Holdings, Silver Law Group may be able to help you recover your investment losses.

Silver Law Group currently represents GWG L Bonds investors. Please contact us at 800-975-4345 for a no-cost, confidential consultation. Continue reading ›

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German Nino (CRD#: 2653707, aka, “German Nio”), is a former broker and investment advisor last employed with UBS of Coral Gables, FL. His earlier employers include HSBC Securities (USA) Inc. (CRD#:19585), also of Coral Gables, Atlas One Financial Group, LLC (CRD#:124057) of Miami, and A. G. Edwards & Sons, Inc. (CRD#:4) of St. Louis, MO.  He has been in the industry since 1995. This case highlights the problem of brokers stealing clients money violating the trust investors put in their financial advisor and exemplifies many of the red flags that investors need to look out for including brokers who use bogus paperwork, false statements and make bizarre excuses to lull a client into a false sense of security. Our attorneys have represented multiple investors who have lost money by brokers stealing from accounts or directly asking clients for loans or investments in their personal projects.  FINRA rules and regulations prohibit this type of borrowing from a client and brokerage firms have a duty to supervise this type of activity. Nino, aged 56, has one disclosure on his record. Filed on 7/13/2020, it alleges that from February 23rd, 2018, to July 13, 2020, Nino manipulated the account of a high wealth client to prevent them from knowing that he was stealing more than $5.8 million from them. The client invested a total of $11 million with UBS. Nino worked for UBS from 2012 through 2020, when he resigned.German Nino (CRD#: 2653707, aka, “German Nio”), is a former broker and investment advisor last employed with UBS of Coral Gables, FL. His earlier employers include HSBC Securities (USA) Inc. (CRD#:19585), also of Coral Gables, Atlas One Financial Group, LLC (CRD#:124057) of Miami, and A. G. Edwards & Sons, Inc. (CRD#:4) of St. Louis, MO. He has been in the industry since 1995. Continue reading ›

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According to FINRA Disciplinary actions for January 2022, 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
  Arely Alvarez   Merrill Lynch, Pierce, Fenner & Smith Inc
  Bradley Holts   World Capital Brokerage, Inc.
  Supreme Alliance LLC
  Jason Kai   Vanguard Marketing Corporation
  Cambridge Investment Research, Inc.
  Ahmad Khalil   Allstate Financial Services, LLC
  Nicholas Kraiko   National Securities Corporation
  Princor Financial Services Corporation
  Reynold Neufeld   Centaurus Financial, Inc.
  LPL Financial Corporation
  Juanita O’Neal   TD Ameritrade, Inc.
  Stacie Orr   Allstate Financial Services, LLC
  Ryan Ott   Equitable Advisors, LLC
  AXA Advisors, LLC
  Andre Senegal   OneAmerica Securities, Inc.
  NYLife Securities LLC
  Kyle Stevens   SECU Brokerage Services
  Timothy Williams   Edward Jones

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According to FINRA Disciplinary actions for January 2022, 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
  John Boatright   Newbridge Securities Corporation
  Summit Brokerage Services, Inc.
  Keri Fazio   MML Investors Services, LLC
  Austin Fox   Cetera Investment Services LLC
  Corecap Investments, Inc.
  Melissa Gilcrease   Allstate Financial Services, LLC
  Jan Haynes   Integrity Brokerage Services, Inc.
  Centaurus Financial, Inc.
  Bethany Hewett   Fidelity Brokerage Services LLC
  Marcus Moon   NYLife Securities LLC
  Lisa Robinson   J.P. Morgan Securities LLC
  Diane Simmons   Horace Mann Investors, Inc.
  Jordan Whitacre   Arkadios Capital
  Triad Advisors, Inc.

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According to FINRA Disciplinary actions for January 2022, 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 Gardner   Cantor Fitzgerald & Co
  J.P. Morgan Securities LLC
  Ganesh Iyer   Morgan Stanley
  LPL Financial LLC
  Calvin Kleinmann   Wells Fargo Clearing Services, LLC
  Wells Fargo Advisors, LLC
  Christopher Pierce   Oppenheimer & Co. Inc.
  Cambridge Investment Research, Inc.
  Jared Poe   Morgan Stanley Smith Barney
  Morgan Stanley & Co Incorporated
  Yousuf Salijooki   Wordon Capital Management LLC
  Salomon Whitney Financial
  Dudley Stephens   Coastal Equities, Inc.
  Prospera Financial Services, Inc.
  Bhaskar Vyas   Interfirst Capital Corporation
  Western International Securities, Inc.

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