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Articles Posted in Stockbroker Misconduct

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David Bibo (David Omori Bibo CRD#: 2602436) is a registered broker currently employed with WESTERN INTERNATIONAL SECURITIES, INC. (CRD#: 39262) of San Jose, CA. He was previously employed with Myclearing.Com (CRD#:104161) and Interfirst Capital Corporation (CRD#:7659), both of Los Angeles, and Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of New York, NY. He has been in the industry since 1995. Bibo is the subject of two currently pending customer disputes regarding unsuitable recommendations. The first, filed on 12/18/2019, requests damages in the amount of $1,500,000. The second, filed on 9/22/2020, requests $300,000 in damages. Two previous filed on 5/15/2019 with concerns over “reasonableness of investment” requested $50,000 each. These claims were both denied.David Bibo (David Omori Bibo CRD#: 2602436) is a registered broker currently employed with WESTERN INTERNATIONAL SECURITIES, INC. (CRD#: 39262) of San Jose, CA. He was previously employed with Myclearing.Com (CRD#:104161) and Interfirst Capital Corporation (CRD#:7659), both of Los Angeles, and Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of New York, NY. He has been in the industry since 1995. Continue reading ›

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Wayne Miller (Wayne Ivan Miller CRD#: 4813645) is a registered broker and previously registered investment advisor currently employed with Aeon Capital Inc. (CRD#: 164004) of Scottsdale, AZ. His previous employers include American Asset Advisory, LLC (CRD#:168444), Accelerated Capital Group (CRD#:41270, expelled by FINRA on 11/26/2019) and Longview Financial Group, Inc. (CRD#:38286), also of Scottsdale. He has been in the industry since 2004. Wayne Miller Disclosures Miller is the subject of eight disclosures, seven of which are related to his tenure at the now-defunct  Accelerated Capital Group. He was named in these disputes due to being named “owner and control person” while at ACG until he left on 2/2/2018. Miller left the firm more than a year before the firm was expelled by FINRA for misleading advertising and failing to establish and maintain a supervisory system. Before its expulsion, the firm was subjected to censures and fines for misconduct. The most recent was filed on 9/25/2020, and alleged “unsuitable placements of alternative investments,” with requested damages of $13,204,427.00. Miller was not the broker of record, and denies the allegations. This claim is pending.Wayne Miller (Wayne Ivan Miller CRD#: 4813645) is a registered broker and previously registered investment advisor currently employed with Aeon Capital Inc. (CRD#: 164004) of Scottsdale, AZ. His previous employers include American Asset Advisory, LLC (CRD#:168444), Accelerated Capital Group (CRD#:41270, expelled by FINRA on 11/26/2019) and Longview Financial Group, Inc. (CRD#:38286), also of Scottsdale. He has been in the industry since 2004. Continue reading ›

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James Couture (James Kenneth Couture CRD#: 4460284) is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Worchester, MA. His previous employers included Lincoln Financial Securities Corporation (CRD#:3870), also of Worchester, MA, New England Securities (CRD#:615) of New York, NY, and Morgan Stanley DW Inc. (CRD#:7556) of Purchase, NY. He has been in the industry since 2001. LPL Financial discharged Couture on 6/17/2020 after discovering that he had: Changed identifying information, account balances and distributions in customer account statements Maintained and comingled customer funds Used an unapproved email addressJames Couture (James Kenneth Couture CRD#: 4460284) is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Worchester, MA. His previous employers included Lincoln Financial Securities Corporation (CRD#:3870), also of Worchester, MA, New England Securities (CRD#:615) of New York, NY, and Morgan Stanley DW Inc. (CRD#:7556) of Purchase, NY. He has been in the industry since 2001. Continue reading ›

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Edward Matthes (Edward Earl Matthes CRD:# 2788055, aka “Ed Matthes”) is a former registered broker and investment advisor whose last known employer was Mutual Of Omaha Investor Services, Inc. (CRD#:611) of Oconomowoc, WI. Previous employers include Thrivent Investment Management Inc. (CRD#:18387), also of Oconomowoc, MML Investors Services, Inc. (CRD#:10409) of Chesterfield, MO, and Thrivent Investment Management Inc. (CRD#:18387) of Minneapolis, MN. He has been in the industry since 1996. Matthes is the subject of 25 disclosures dating back to 2005. The most recent disclosures leading to charges began on 3/12/2019 after he was dismissed from Mutual of Omaha. The firm alleged that he created fictitious account statements for clients and deposited client money into his own bank accounts. The FBI began an investigation three days after Matthes’ termination, on 3/15/2019.Edward Matthes (Edward Earl Matthes CRD:# 2788055, aka “Ed Matthes”) is a former registered broker and investment advisor whose last known employer was Mutual Of Omaha Investor Services, Inc. (CRD#:611) of Oconomowoc, WI. Previous employers include Thrivent Investment Management Inc. (CRD#:18387), also of Oconomowoc, MML Investors Services, Inc. (CRD#:10409) of Chesterfield, MO, and Thrivent Investment Management Inc. (CRD#:18387) of Minneapolis, MN. He has been in the industry since 1996. Continue reading ›

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Timothy Engelmann (CRD#: 4933563 Timothy Aaron Engelmann) is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Albuquerque, NM. His previous employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) and Wells Fargo Advisors, LLC (CRD#:19616), also of Albuquerque, and Wells Fargo Investments, LLC (CRD#:10582) of Tucson, AZ. He has been in the industry since 2005. LPL Financial discharged Engelmann on 11/29/2019 after discovering that he twice violated the firm’s policy regarding borrowing money from clients. The firm filed a Form U5 indicating that he had been terminated regarding the policy.Timothy Engelmann (CRD#: 4933563 Timothy Aaron Engelmann) is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Albuquerque, NM. His previous employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) and Wells Fargo Advisors, LLC (CRD#:19616), also of Albuquerque, and Wells Fargo Investments, LLC (CRD#:10582) of Tucson, AZ. He has been in the industry since 2005. Continue reading ›

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Narinder Singh (Narinder Kaur Singh CRD:# 3100308, aka “Narinder Dutt”) is a previously registered broker whose last known employer was Farmers Financial Solutions, LLC (CRD#:103863) of Sacramento, CA. Her previous employers include Proequities, Inc. (CRD#:15708), Transamerica Financial Advisors, Inc (CRD#:16164) and Oneamerica Securities, Inc. (CRD#:4173), all of Elk Grove, CA.  She has been in the industry since 1998. FINRA’s investigation began in October of 2019 after both Transamerica and Proequities filed Form U5 amendments indicating that there was a pending arbitration filed by a customer alleging that Singh invested their funds into a fraudulent investment. Farmers’ then terminated Singh’s registration with a Form U5 filed on November 6, 2019. Singh initially cooperated with the FINRA investigation, but on August 18, she indicated in a phone call with FINRA staff that she would not provide on-the-record testimony at any time. Therefore, FINRA barred Singh indefinitely as of 8/28/2020.Narinder Singh (Narinder Kaur Singh CRD:# 3100308, aka “Narinder Dutt”) is a previously registered broker whose last known employer was Farmers Financial Solutions, LLC (CRD#:103863) of Sacramento, CA. Her previous employers include Proequities, Inc. (CRD#:15708), Transamerica Financial Advisors, Inc (CRD#:16164) and Oneamerica Securities, Inc. (CRD#:4173), all of Elk Grove, CA.  She has been in the industry since 1998. Continue reading ›

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According to FINRA Disciplinary actions for December 2020, 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
  Jamie Bennett   Silber Bennett Financial, Inc.
  Silver Portal Capital LLC
  Chelsea Flohr   J.P. Morgan Securities LLC
  Jon Foster   Wells Fargo Clearing Services, LLC
  Mark Grenier   David Lerner Associates, Inc.
  Maxim Group LLC
  Dorinda Lumpkin   BBVA Securities Inc.
  Jorge Pica   Suntrust Robinson Humphrey, Inc.
  Stephens Inc.
  Aaron Pierett   Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Wells Fargo Clearing Services, LLC
  Alexander Walker   Fidelity Brokerage Services LLC

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According to FINRA Disciplinary actions for December 2020, 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
  Michael Albarella   HSBC Securities (USA) Inc.
  People’s Securities, Inc.
  Dean Grosskreutz   Allstate Financial Services, LLC
  Morgan Keegan & Company, Inc.

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Keith Simmons (Keith Frederick Simmons CRD: #730619) is a broker and investment advisor with Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Miami, FL. He has been with Merrill Lynch since 1981, and is registered in 30 states. Simmons is the subject of a customer dispute filed on 5/29/2020 by a client who alleges “unsuitable investment recommendations.”  The client requests damages of $8,000,000. No additional information is available. The dispute is currently listed as “pending.” A previous customer dispute filed on 12/2/2009 alleges “misrepresentation regarding the liquidity and risk of auction rate securities in June 2008.”  This case involved the sale of auction rate securities.  Merrill Lynch settled for $300,000, the cost of repurchasing these securities. The case was settled to avoid the continued cost and uncertainty of litigation. Simmons took no part in the settlement. A customer dispute filed on 10/17/1997 alleged that Simmons “oversold” a client’s shares without authorization. The client requested reinstatement of the shares, worth $9,000. Merrill Lynch settled the matter for $9,000 to avoid litigation.Keith Simmons (Keith Frederick Simmons CRD: #730619) is a broker and investment advisor with Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Miami, FL. He has been with Merrill Lynch since 1981, and is registered in 30 states. Continue reading ›

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Broker Troy Goldberg (CRD#: 2342989) is a registered broker and investment advisor currently employed with National Securities Corporation (CRD#: 7569) of Boca Raton, FL. Previous employers include Brookshire Securities Corporation (CRD#:44347) and Newbridge Securities Corporation (CRD#:104065), both of Fort Lauderdale, FL and Preferred Securities Group, Inc. (CRD#:35704), also of Boca Raton. Two of Goldberg’s previous employers were expelled by FINRA in 1999: Monroe Parker Securities, Inc. (CRD#:31204) of Purchase, NY and Biltmore Securities, Inc (CRD#:25023) of Fort Lauderdale. Registered in 30 states, he has been in the industry since 1993. National Securities Corporation and Troy Goldberg Between 11/6/2019 and 1/29/2020, six customer disputes were filed alleging Goldberg made “unsuitable recommendations” in regards to private placements. It is not indicated whether these cases are the same client or more than one. The total requested damages for these pending claims comes to $640,000. However it is noted that the customer was an accredited investor, and Goldberg isn’t a “named respondent” in the FINRA arbitration.Broker Troy Goldberg (CRD#: 2342989) is a registered broker and investment advisor currently employed with National Securities Corporation (CRD#: 7569) of Boca Raton, FL. Previous employers include Brookshire Securities Corporation (CRD#:44347) and Newbridge Securities Corporation (CRD#:104065), both of Fort Lauderdale, FL and Preferred Securities Group, Inc. (CRD#:35704), also of Boca Raton. Continue reading ›

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