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Articles Posted in Stockbroker Misconduct

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According to FINRA Disciplinary actions for September 2020, 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
  William Baris   Network 1 Financial Securities Inc.
  Joseph Stone Capital LLC
  Todd Paynter   Cambridge Investment Research, Inc.
  Ameriprise Financial Services, Inc.
  Nelson Polun   Wells Fargo Clearing Services, LLC
  Merrill Lynch, Pierce, Fenner & Smith Inc
  Adam Schachter   LPL Financial LLC
  Wells Fargo Clearing Services, LLC
  Paul Steffany   Moors & Cabot, Inc.
  Raymond James & Associates, Inc.
  Peter Walsworth   Morgan Stanley
  Merrill Lynch, Pierce, Fenner & Smith Inc

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According to FINRA Disciplinary actions for September 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
  William Ellis   Charles Schwab & Co., Inc.
  Fidelity Brokerage Services LLC
  John Evans   Wells Fargo Clearing Services, LLC
  Foreside Fund Services, LLC
  Dia Howell   U.S. Bancorp Investments, Inc.
  May Kim   Pruco Securities, LLC
  Evan Nadelman   Aegis Capital Corp.
  Ninety Holdings Group LLC
  Blair Olsen   Lincoln Investment
  Legend Equities Corporation
  Gyasi Richard   Wells Fargo Clearing Services LLC
  Philip Scherello   Traderfield Securities Inc.
  Velocity Capital, LLC

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Jesse Kovacs (Jesse Todd Kovacs CRD# 5047161) is a currently suspended broker who last worked for PTS Brokerage, LLC in their Forked River, New Jersey branch office. Kovacs was suspended for participating in a private securities transaction (selling away) without giving advance written notice to his firm. Jesse Kovacs Disclosures Jesse Kovacs has been in the securities industry since 2006. Before joining PTS Brokerage in 2019, Kovacs worked for The O.N. Equity Sales Company, Hornor, Townsend & Kent, Inc., and other broker-dealers. Kovacs has 6 disclosures on his publicly-available FINRA BrokerCheck report:Jesse Kovacs (Jesse Todd Kovacs CRD# 5047161) is a currently suspended broker who last worked for PTS Brokerage, LLC in their Forked River, New Jersey branch office. Kovacs was suspended for participating in a private securities transaction (selling away) without giving advance written notice to his firm. Continue reading ›

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Anthony Hall (Anthony Glenn Hall CRD: #5546165) is a former registered broker and investment advisor whose last known employer was Edward Jones (CRD: #250) of Dayton, Texas. He was employed with Edward Jones from 2008 until his discharge in 2019. No additional employment information is available. On 8/12/2019, two customers filed disputes alleging that Hall’s wife borrowed money from them and had not yet paid it back. The loan amounts were $174,427.75 and $134,785.14, totaling of $309,212.89. The company settled the disputes for $174,427.75 and $130,000, respectively. Edward Jones then terminated Hall on 8/14/2019, “after concerns that registered representative attempted to settle two client complaints involving lending arrangements with the registered representative's wife without notifying the firm.”  After his discharge, the firm then filed a Form U5 with FINRA indicating that they had terminated Hall for the reasons stated.Anthony Hall (Anthony Glenn Hall CRD: #5546165) is a former registered broker and investment advisor whose last known employer was Edward Jones (CRD: #250) of Dayton, Texas. He was employed with Edward Jones from 2008 until his discharge in 2019. No additional employment information is available. Continue reading ›

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Bryant Caveness (Bryant Edwin Caveness CRD: #4033740) is a former registered broker and investment advisor whose last employer was Ameriprise Financial Services, LLC (CRD#:6363) of Kingsport, TN. His previous employers include Ameriprise Advisor Services, Inc. (CRD#:5979), also of Kingsport, and Morgan Stanley DW Inc. (CRD#:7556) of Purchase, NY. He has been in the industry since 1999. Ameriprise Financial discharged Caveness on 6/26/2020, indicating that, “the registered representative was terminated for company policy violations related to personal trade, ethics, and solicitation of exchange traded products.” FINRA began its investigation that included allegations of “potential receipt of checks from senior customers.” Bryant Caveness initially cooperated with the investigation, but changed his mind in July of 2020. In an email from his legal counsel on July 9, 2020, to FINRA staff, Caveness indicated that he had received FINRA’s request for documentation, but would not be supplying the requested information or documentation at any time.Bryant Caveness (Bryant Edwin Caveness CRD: #4033740) is a former registered broker and investment advisor whose last employer was Ameriprise Financial Services, LLC (CRD#:6363) of Kingsport, TN. His previous employers include Ameriprise Advisor Services, Inc. (CRD#:5979), also of Kingsport, and Morgan Stanley DW Inc. (CRD#:7556) of Purchase, NY. He has been in the industry since 1999. Continue reading ›

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Stanley Secor (Stanley Bernard Secor CRD:#1982414) is a former registered broker and investment advisor whose last employer was Cetera Advisor Networks LLC (CRD# 13572) of Salt Lake City, UT. His previous employers include Girard Securities, Inc. (CRD#:18697) and Securian Financial Services, Inc. (CRD#:15296), also of Salt Lake City, and WS Griffith Securities, Inc. (CRD#:10410) of Hartford, CT. He has been in the industry since 1989. In 2015,Girard Securities partnered with Cetera Advisor Networks joining the Cetera platform. As part of Cetera, it is responsible for any of Girard’s liabilities. Cetera is a large network of interrelated brokerage firms all operating under the Cetera umbrella. The Utah Division of Securities notified both Secor and Cetera that the agency began an investigation into Stanley Secor’s activities while with the firm. After an on-site investigation, the agency found that Secor engaged in: Sharing in client accounts Roles in estates and trustee appointments that were undisclosed and unapproved Designation as client's beneficiary without the firm’s knowledge or approval Violation of former BD's WSPS and misrepresentation regarding the sources of funds Control and custody of client funds False statements Engaging in dishonest or unethical practicesStanley Secor (Stanley Bernard Secor CRD:#1982414) is a former registered broker and investment advisor whose last employer was Cetera Advisor Networks LLC (CRD# 13572) of Salt Lake City, UT. His previous employers include Girard Securities, Inc. (CRD#:18697) and Securian Financial Services, Inc. (CRD#:15296), also of Salt Lake City, and WS Griffith Securities, Inc. (CRD#:10410) of Hartford, CT. He has been in the industry since 1989. Continue reading ›

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According to FINRA Disciplinary actions for October 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
  Conrad Coggeshall   Packerland Brokerage Services, Inc.
  USA Financial Securities Corporation
  Roderick Day   Cabot Lodge Securities LLC
  IFS Securities
  Marvin Egorin   Wedbush Securities Inc.
  Wells Fargo Clearing Services, LLC
  Frank Grant IV
  Andrew Slocum   Charles Schwab & Co., Inc.
  Merrill Lynch, Pierce, Fenner & Smith Inc
  Junior Tonkam   PFS Investments Inc.

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According to FINRA Disciplinary actions for October 2020, 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
  Jeffrey Allen   Wells Fargo Clearing Services, LLC
  Wells Fargo Advisors
  Christopher Canorro   TD Ameritrade, Inc.
  Scottrade, Inc.
  Terrence Diehl   LPL Financial LLC
  Private Advisor Group
  Alex Herrera   UBS Financial Services Inc.
  HSBC Securities (USA) Inc.
  Blake Kiernan   Four Points Capital Partners LLC
  First Midwest Securities, Inc.
  Deependra Logani   Morgan Stanley Smith Barney LLC
  Santander Securities LLC
  Anthony Mastroianni Jr.   Meyers Associates, L.P.
  Alexander Capital, L.P.
  Frank Mebane III   LPL Financial LLC
  Wells Fargo Clearing Services, LLC
  Denis O’Leary   Dinosaur Financial Group, LLC
  Morgan Stanley
  John Riccardi Jr.   Joseph Stone Capital LLC
  Windsor Street Capital, LP
  Scott Whittemore   Wells Fargo Clearing Services, LLC
  Morgan Stanley

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According to FINRA Disciplinary actions for October 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
  Michael Albarella   HSBC Securities (USA) Inc.
  People’s Securities, Inc.
  Curt Giacobbe   MML Investors Services, LLC
  Eagle Strategies LLC
  Dean Grosskreutz   Allstate Financial Services, LLC
  Morgan Keegan & Company, Inc.
  Naveed Mitha   SunTrust Robinson Humphrey, Inc.
  Jose Montero   J.P. Morgan Securities LLC
  Cleavon Tidball   T. Rowe Price Investment Services, Inc.
  Transamerica Investors Securities Corporation

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Ronald Birnbaum (Ronald David Birnbaum CRD# 238250) is a broker and investment advisor currently registered with Advisory Group Equity Services Ltd. and Trust Advisory Group Ltd. In Newton, Massachusetts. Ronald Birnbaum sold his clients private placements in GPB Capital, which Massachusetts securities regulators accuse of violating securities laws by misleading investors. Silver Law Group represents investors in claims to recover GPB investment losses. Contact us today at (800) 975-4345 for a no-cost consultation. GPB Capital Investments Holdings GPB Capital Holdings, an alternative asset management company founded in 2013 by Scientologist David Gentile, raised $1.8 billion by using broker-dealers across the country to sell private placement investments to investors. GPB is in the business of buying and managing companies such as car dealerships and garbage companies. A private placement in GPB couldn’t be sold, but investors liked the high dividends it paid.Ronald Birnbaum (Ronald David Birnbaum CRD# 238250) is a broker and investment advisor currently registered with Advisory Group Equity Services Ltd. and Trust Advisory Group Ltd. In Newton, Massachusetts. Ronald Birnbaum sold his clients private placements in GPB Capital, which Massachusetts securities regulators accuse of violating securities laws by misleading investors. Continue reading ›

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