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Articles Posted in Stockbroker Misconduct

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Johan Pereira (Johan Manuel Pereira CRD#: 6252881) is a former registered broker and investment advisor whose last known employment was with Wells Fargo Clearing Services, LLC (CRD#:19616) of Beverly, MA. His previous employers are Santander Securities LLC (CRD#:41791) of North Andover, MA, Citizens Securities, Inc. (CRD#:39550) of Wilmington, MA, and Pruco Securities, LLC. (CRD#:5685) of Wakefield, MA. He has been in the industry since 2013. Pereira became involved with an outside business activity (OBA) which included compensation. As required, he sought approval from Wells Fargo and was granted permission. In his request, Pereira stated that he would not offer advice on securities, financial planning, or financing through this OBA. Later, Pereira did become involved in activity that was outside of the description he gave to Wells Fargo. He was approached to assist one of the OBA customers in purchasing Bitcoin, buying it for the customer personally. By doing so, Pereira went outside of the description he gave to Wells Fargo regarding his involvement. He did not disclose this activity to Wells Fargo as required.Johan Pereira (Johan Manuel Pereira CRD#: 6252881) is a former registered broker and investment advisor whose last known employment was with Wells Fargo Clearing Services, LLC (CRD#:19616) of Beverly, MA. His previous employers are Santander Securities LLC (CRD#:41791) of North Andover, MA, Citizens Securities, Inc. (CRD#:39550) of Wilmington, MA, and Pruco Securities, LLC. (CRD#:5685) of Wakefield, MA. He has been in the industry since 2013. Continue reading ›

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Jeremy Fortner (Jeremy W. Fortner CRD# 4811478) is a former registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Beverly Hills, CA. His previous employers include J.P. Morgan Securities LLC (CRD#:79) of Sherman Oaks, CA, Chase Investment Services Corp. (CRD#:25574) of both Encino and Los Angeles, CA, and J.P. Morgan Institutional Investments Inc. (CRD#:102920) of Kansas City, MO. He has been in the industry since 2004. On 8/1/2021, Wells Fargo Clearing Services discharged Fortner for “borrowing money from multiple firm clients.” There are seven customer disputes with settlements totaling $435,488.55 with similar allegations of: Borrowed funds not repaid, including two secured with promissory notes Involvement in Fortner’s outside business activities and outside private placements Recommendation of a real estate investment The purchase of a security in one client’s account without authorization These disputes are dated from 6/23/2021 from 10/04/2021. FINRA contacted Fortner for information related to its investigation, but he failed to respond with information. This led to a permanent and indefinite bar in all capacities against Fortner, beginning on 3/3/2022. FINRA imposed no fines.

Jeremy Fortner (CRD# 4811478) is a former registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Beverly Hills, CA. His previous employers include J.P. Morgan Securities LLC (CRD#:79) of Sherman Oaks, CA, Chase Investment Services Corp. (CRD#:25574) of both Encino and Los Angeles, CA, and J.P. Morgan Institutional Investments Inc. (CRD#:102920) of Kansas City, MO. He has been in the industry since 2004. Continue reading ›

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Michael Lian (Michael Emile Lian CRD# 2639356) is a previously registered broker whose last known employer was National Securities Corporation (CRD#:7569) of Clearwater, FL. His previous employers include Aegis Capital Corp. (CRD#:15007), National Securities Corporation (CRD#:7569), and Newbridge Securities Corporation (CRD#:104065), all in Red Bank, NJ. He has been in the industry since 1995. National Securities Corporation discharged Lian after discovering that he accepted a cash gift of $8,000 in 2017 from a client without notifying the firm or requesting permission before accepting. The gift was made while he was registered with Aegis, as a “thank-you” for a recommendation. Lian also circumvented Aegis’ written policies to conceal the gift from the firm, which prohibited anything over $100. National discharged Lian on those grounds. FINRA initiated an investigation and twice requested information from. After ignoring these requests, Lian finally supplied FINRA with the requested documentation. Lian was then suspended for 8 months and sanctioned with a $10,000 fine. He signed the Letter of Acceptance, Waiver & Consent (AWC) and the suspension became effective on 12/2/2021, set to end 8/6/2022. Lian has one additional disclosure, dated. 12/12/2012. A client dispute alleges that Lian “misrepresented a recommendation to purchase VHC.” The client requested damages of $14,000 and the claim was settled for $6875. No additional information is available.Michael Lian (Michael Emile Lian CRD# 2639356) is a previously registered broker whose last known employer was National Securities Corporation (CRD#:7569) of Clearwater, FL. His previous employers include Aegis Capital Corp. (CRD#:15007), National Securities Corporation (CRD#:7569), and Newbridge Securities Corporation (CRD#:104065), all in Red Bank, NJ. He has been in the industry since 1995. Continue reading ›

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Joseph Audia (Joseph Scott Audia CRD# 2909761) is a registered broker currently employed with VCS Venture Securities (CRD#: 127921) of Hauppauge, NY. His previous employers include Joseph Stone Capital (CRD#: 159744), First Midwest Securities, Inc. (CRD#:21786), and American Capital Partners, LLC (CRD#:119249), also of Hauppauge. He has been in the industry since 1997. FINRA recently sanctioned Audia after allegations that he failed to supervise a representative in his division while employed with Joseph Stone Capital. The representative continually churned and excessively traded in a specific customer’s account. The Acceptance, Waiver & Consent (AWC) letter detailed the allegations. During his tenure as branch manager, Joseph Audia received daily trading blotters. He failed to review these blotters, as well as failed to review and investigate instances of excessive trading by one representative. Audia also failed to enforce restrictions placed on the representative after the firm discovered the excessive trading. Two examples of this failure were detailed in the AWC:Joseph Audia (Joseph Scott Audia CRD# 2909761) is a registered broker currently employed with VCS Venture Securities (CRD#: 127921) of Hauppauge, NY. His previous employers include Joseph Stone Capital (CRD#: 159744), First Midwest Securities, Inc. (CRD#:21786), and American Capital Partners, LLC (CRD#:119249), also of Hauppauge. He has been in the industry since 1997. Continue reading ›

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David Khezri (CRD# 2736831) is a previously registered broker whose last employer was Network 1 Financial Securities Inc. (CRD#:13577) of Hauppauge, NY. His previous employers include Worden Capital Management LLC (CRD#:148366) of Melville, NY, Joseph Stone Capital L.L.C. (CRD#:159744) and Cape Securities Inc. (CRD#:7072), both of Holbrook NY. Currently, Khezri is neither registered nor associated with any FINRA member firm. Five of Khezri’s former employers have been expelled by FINRA: EKN Financial Services Inc. (CRD#:113525), Melville, NY, expelled on 10/12/2012 com Corp (CRD#:18281), Farmingville, NY, expelled on 8/19/2010 Seaboard Securities, Inc. (CRD#:755) of Florham Park, NJ, expelled on 2/11/2011 J. Meyers & Co., Inc. (CRD#:15609) of Rochester, NY, expelled on 03/01/1999 Investors Associates, Inc. (CRD#:958) of Hackensack, NJ, expelled on 05/14/1998 He has been in the industry since 1996. David Khezri has a customer dispute disclosure in his CRD dated 3/15/2021, alleging unsuitable excessive trading and churning, as well as common law fraud, breach of contract, and other misconduct. The client has requested damages of $187,000. This claim is currently pending.David Khezri (CRD# 2736831) is a previously registered broker whose last employer was Network 1 Financial Securities Inc. (CRD#:13577) of Hauppauge, NY. His previous employers include Worden Capital Management LLC (CRD#:148366) of Melville, NY, Joseph Stone Capital L.L.C. (CRD#:159744) and Cape Securities Inc. (CRD#:7072), both of Holbrook NY. Currently, Khezri is neither registered nor associated with any FINRA member firm. Continue reading ›

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Anthony Graziano (Anthony Joseph Graziano CRD# 2862096) is a broker currently registered with Joseph Stone Capital L.L.C. (CRD# 159744) of New York, NY. His previous employers include National Securities Corporation (CRD#:7569) of Westbury, NY, Brookstone Securities, Inc. (CRD#:13366, expelled by FINRA 10/9/2012) of Garden City, NY, and Salomon Whitney LLC (CRD#:145012) of Babylon Village, NY.  He has been in the industry since 1997.Anthony Graziano (Anthony Joseph Graziano CRD# 2862096) is a broker currently registered with Joseph Stone Capital L.L.C. (CRD# 159744) of New York, NY. His previous employers include National Securities Corporation (CRD#:7569) of Westbury, NY, Brookstone Securities, Inc. (CRD#:13366, expelled by FINRA 10/9/2012) of Garden City, NY, and Salomon Whitney LLC (CRD#:145012) of Babylon Village, NY. He has been in the industry since 1997. Continue reading ›

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Narith Long (CRD# 6598152) is a previously registered broker whose last known employer was NY Life Securities LLC (CRD#:5167) of Glendale, CA. He was previously employed with Northwestern Mutual Investment Services, LLC (CRD#:2881) of Long Beach, CA, where he began his career in the industry in 2018. New York Life Securities terminated Long’s employment on December 1st, 2020. The company terminated him for engaging in unauthorized securities transactions. This activity included recommending to his customers that they open brokerage accounts with a separate, non-affiliated firm. Once the clients opened these brokerage accounts, Long went in using their login information and traded securities that were held in these non-firm accounts. FINRA requested information from Long, which he failed to provide. Therefore, FINRA issued notices of Suspension and Suspension from Association letters on September 1st, 2021, and September 27, 2021. Long then failed to request termination of his suspension within three months of the. Notice of Suspension. As of December 6th, 2021, Narith Long is now permanently barred from any association with FINRA members in all capacities.Narith Long (CRD# 6598152) is a previously registered broker whose last known employer was NY Life Securities LLC (CRD#:5167) of Glendale, CA. He was previously employed with Northwestern Mutual Investment Services, LLC (CRD#:2881) of Long Beach, CA, where he began his career in the industry in 2018. Continue reading ›

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Todd Kling (Todd Franklin Kling CRD# 3034284) is a currently registered broker and investment advisor employed with Joseph Stone Capital L.L.C. (CRD#: 159744) in New York, NY. His previous employers include Royal Alliance Associates, Inc. (CRD#:23131), First Midwest Securities, Inc. (CRD#:21786), and FMSI Advisers (CRD#:21786), also of New York, NY. His first employer, First Republic Group, LLC (CRD#: 39781), was expelled by FINRA on 9/23/2009. He has been in the industry since 1999. According to a FINRA disciplinary action dated 12/17/2021, Kling was found to have excessively and unsuitably traded one customer's account. This particular client was not only a retired psychiatrist but also a senior investor. Between March 2018 and November 2019, Kling recommended that the client place a total of 115 trades in his account. The client accepted Kling’s recommendations and made the trades. The customer’s account had an average month end equity of $5,414,465, resulting in an annualized turnover rate of more than 12. The trades recommended by Kling caused this customer to pay commissions, trading costs and margin interests that totaled $153,879.00. This trading resulted in an annualized cost to equity ratio of more than 35%. For the client to break even, the customer’s account would have had to grow by more than 35% annually just to reach the “break-even point.”Todd Kling (Todd Franklin Kling CRD# 3034284) is a currently registered broker and investment advisor employed with Joseph Stone Capital L.L.C. (CRD#: 159744) in New York, NY. His previous employers include Royal Alliance Associates, Inc. (CRD#:23131), First Midwest Securities, Inc. (CRD#:21786), and FMSI Advisers (CRD#:21786), also of New York, NY. His first employer, First Republic Group, LLC (CRD#: 39781), was expelled by FINRA on 9/23/2009. He has been in the industry since 1999. Continue reading ›

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Joseph Fedorko (Joseph Michael Fedorko CRD#] 2007317) is a previously registered broker whose last known employer was Laidlaw & Company (UK) LTD. (CRD#:119037) of Greenwich, CT. His previous employers include Oppenheimer & Co. Inc. (CRD#:249) of Stamford, CT, Josephthal & Co., Inc. (CRD#:3227) and Gruntal & Co., L.L.C. (CRD#:372), both of New York, NY. He has been in the industry since 1989. Fedorko has a total of 19 disclosures dating back to 1995. However, the most recent disclosure is from FINRA, after he excessively traded in the account a married senior couple from January 1, 2014, to December 31, 2019. He exercised de facto control over the couple’s account, and the couple trusted his recommendations. During this period, Fedorko and his firm (Laidlaw) exercised more than 1,200 transactions in the customers’ account. This excess trading led to losses of approximately $1.1 million, known as “churning.” However, the trading also generated $760,000 in commissions and markups for the firm, with Fedorko receiving 25% of the commissions and markups. After the customers filed a claim, the firm reimbursed them for their losses and closed their arbitration.Joseph Fedorko (Joseph Michael Fedorko CRD#] 2007317) is a previously registered broker whose last known employer was Laidlaw & Company (UK) LTD. (CRD#:119037) of Greenwich, CT. His previous employers include Oppenheimer & Co. Inc. (CRD#:249) of Stamford, CT, Josephthal & Co., Inc. (CRD#:3227) and Gruntal & Co., L.L.C. (CRD#:372), both of New York, NY. He has been in the industry since 1989. Continue reading ›

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