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Articles Posted in Stockbroker Misconduct

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Robert Buffington (CRD#:5220332) is a previously registered broker whose last employer was Aegis Capital Corp. (CRD# 15007) of New York, NY. Prior employers include Gunnallen Financial, Inc (CRD#:17609), Maxim Group LLC (CRD#:120708) and Bear, Stearns & Co. Inc. (CRD#:79), all of New York. He has been in the industry since 2007. No current employment information is available. Buffington is the subject of four disclosures, all customer disputes. The most recent was filed on 3/9/2020, with allegations of unsuitability, and breaches of contract and fiduciary duty in an unspecified time frame. This dispute requests damages of $642,224.00. Two previous disputes were filed on 1/17/2020 and 1/21/2020, respectively. Both contain allegations of unsuitability, churning, common law fraud, and breaches of contract and fiduciary duty. The dispute filed on 1/17 claims a timeframe of November 2018 through the present. The other dispute has an unspecified time frame. All three of these disputes are pending.Robert Buffington (CRD#:5220332) is a previously registered broker whose last employer was Aegis Capital Corp. (CRD# 15007) of New York, NY. Prior employers include Gunnallen Financial, Inc (CRD#:17609), Maxim Group LLC (CRD#:120708) and Bear, Stearns & Co. Inc. (CRD#:79), all of New York. He has been in the industry since 2007. No current employment information is available. Continue reading ›

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Marcello Lattuca (CRD: #2149434) is a registered broker currently registered with NBC Securities (CRD: #17870) in Massapequa, NY. His previous employers include JHS Capital Advisors, LLC (CRD#:112097), also of Massapequa, Gunnallen Financial, Inc. (CRD#:17609) of Plainview NY, and Kirlin Securities Inc. (CRD#:21210, expelled by FINRA in 2009) of Syosset, NY. He has been in the industry since 1991. NBC Securities promotes itself as a full service broker/dealer and registered investment advisor providing investment services to retail and institutional clients. We offer financial advice and solutions through a diverse menu of investment products and services.Marcello Lattuca (CRD: #2149434) is a registered broker currently registered with NBC Securities (CRD: #17870) in Massapequa, NY. His previous employers include JHS Capital Advisors, LLC (CRD#:112097), also of Massapequa, Gunnallen Financial, Inc. (CRD#:17609) of Plainview NY, and Kirlin Securities Inc. (CRD#:21210, expelled by FINRA in 2009) of Syosset, NY. He has been in the industry since 1991. Continue reading ›

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Apostolos Pitsironis (CRD#: 2804907) is a former registered broker and investment advisor whose last employer was Janney Montgomery Scott LLC (CRD#:463) of Montgomery, NY. Previous employers include Wells Fargo Clearing Services, LLC (CRD#:19616) of Hauppage, NY, RBC Capital Markets, LLC (CRD#:31194) if Jericho, NY, and Morgan Stanley DW INC. (CRD#:7556) of Purchase, NY. He has been in the industry since 1999.Apostolos Pitsironis (CRD#: 2804907) is a former registered broker and investment advisor whose last employer was Janney Montgomery Scott LLC (CRD#:463) of Montgomery, NY. Previous employers include Wells Fargo Clearing Services, LLC (CRD#:19616) of Hauppage, NY, RBC Capital Markets, LLC (CRD#:31194) if Jericho, NY, and Morgan Stanley DW INC. (CRD#:7556) of Purchase, NY. He has been in the industry since 1999. Continue reading ›

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We previously reported on broker Kevin Richard Wilson (CRD #326701), who had two customer disputes filed in 2018. He is currently employed with Worden Capital Management, LLC (CRD#: 148366) of New York, NY. He has been in the industry since 1999. Since our previous report, there have been six more disputes with allegations of unsuitability and over-concentration. Two were settled, and four are listed as “pending.”We previously reported on broker Kevin Richard Wilson (CRD #326701), who had two customer disputes filed in 2018. He is currently employed with Worden Capital Management, LLC (CRD#: 148366) of New York, NY. He has been in the industry since 1999.

Since our previous report, there have been six more disputes with allegations of unsuitability and over-concentration. Two were settled, and four are listed as “pending.” Continue reading ›

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Joshua Stivers (Joshua Daniel Stivers CRD:#5708565) is a currently registered broker and investment advisor currently employed with Kalos Capital, Inc. (CRD#: 44337) of Austin, TX. His previous employers include G.F. Investment Services, LLC (CRD#:132939) and Global Financial Private Capital, LLC (CRD#:132070), both of Austin, TX, and USA Wealth Management LLC (CRD#:122082) of Marble Falls, TX. He has been in the industry since 2009.Joshua Stivers (Joshua Daniel Stivers CRD:#5708565) is a currently registered broker and investment advisor currently employed with Kalos Capital, Inc. (CRD#: 44337) of Austin, TX. His previous employers include G.F. Investment Services, LLC (CRD#:132939) and Global Financial Private Capital, LLC (CRD#:132070), both of Austin, TX, and USA Wealth Management LLC (CRD#:122082) of Marble Falls, TX. He has been in the industry since 2009. Continue reading ›

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Dain Stokes (CRD: #2960801) is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Bedford, NH. His previous employers include Edward Jones (CRD#:250) of Manchester, NH, American Express Financial Advisors Inc. (CRD#:6363) and IDS Life Insurance Company (CRD#:6321), both of Minneapolis, MN. He has been in the industry since 1998. On 3/18/2020, a client filed a dispute alleging “misappropriation of funds,” and requesting damages of $375,000. This claim was settled, but no additional information is available.Dain Stokes (CRD: #2960801) is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Bedford, NH. His previous employers include Edward Jones (CRD#:250) of Manchester, NH, American Express Financial Advisors Inc. (CRD#:6363) and IDS Life Insurance Company (CRD#:6321), both of Minneapolis, MN. He has been in the industry since 1998. Continue reading ›

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Victor Rigoni, III is a former registered broker and investment advisor whose last known employer was Cetera Advisor Networks LLC (CRD#:13572) of Lake Forest, IL. His previous employers include Summit Brokerage Services, Inc. (CRD#:34643) and Cambridge Investment Research, Inc. (CRD#:39543), also of Lake Forest, and Edward Jones (CRD#:250) of Antioch, IL. He has been in the industry since 2000. Rigoni was affiliated with North Shore Capital Group and did business through this business. FINRA issued a complaint on 8/3/2020 after it was reported that he failed to disclose multiple state and federal tax liens in a timely fashion, and falsely attested to his compliance in regular company compliance questionnaires. Rigoni has eight liens, totaling $164,521, and were disclosed roughly 3.5 years late on a regular basis. He also failed to report a state lien of $11,304 even after being notified by FINRA of the lien. Although FINRA requests that Rigoni pay for the costs of the disciplinary action, the case is still listed as “pending.” Rigoni denies the allegations.Victor Rigoni, III is a former registered broker and investment advisor whose last known employer was Cetera Advisor Networks LLC (CRD#:13572) of Lake Forest, IL. His previous employers include Summit Brokerage Services, Inc. (CRD#:34643) and Cambridge Investment Research, Inc. (CRD#:39543), also of Lake Forest, and Edward Jones (CRD#:250) of Antioch, IL. He has been in the industry since 2000. Rigoni was affiliated with North Shore Capital Group and did business through this business. Continue reading ›

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On September 10, 2020, the Unites States Securities and Exchange Commission (SEC) filed a civil Complaint in U.S. District Court for the District of New Jersey against defendants RRBB Asset Management, LLC and Carl S. Schwartz. According to the “Summary” contained in the SEC’s Complaint, Schwartz engaged in “cherry picking,” the act of disproportionately allocating profitable trades to accounts held by certain clients while allocating less profitable trades to other clients. The SEC alleges that by engaging in “cherry picking,” RRBB and Schwartz earned substantial management fees and convinced their clients that RRBB and Schwartz were better money managers than they really were. This conduct, according to the SEC’s Complaint, violates the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940.On September 10, 2020, the Unites States Securities and Exchange Commission (SEC) filed a civil Complaint in U.S. District Court for the District of New Jersey against defendants RRBB Asset Management, LLC and Carl S. Schwartz. According to the “Summary” contained in the SEC’s Complaint, Schwartz engaged in “cherry picking,” the act of disproportionately allocating profitable trades to accounts held by certain clients while allocating less profitable trades to other clients. Continue reading ›

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Jeffrey Cohen (CRD: #2528929) is a registered broker and investment advisor currently employed by Moloney Securities Asset Management LLC (CRD#:282448) of Henderson, NV. His previous employers include Moloney Investment Advisory LLC (CRD#:282140) of Laguna Miguel, CA, Moloney Securities Co., Inc. (CRD#:38535) also of Henderson, and Western International Securities, Inc. (CRD#:39262), of Westlake Village, CA. He has been in the industry since 1994. Cohen is the subject of seven disclosures, six of which were filed in the last year. From 8/23/2019 through 7/13/2020, these disputes all allege “unsuitability” and unsuitable recommendations of “alternative investments” in their claims against Cohen. The combined claims total $7,200,000. None of the claims contain a rebuttal statement from Cohen.Jeffrey Cohen (CRD: #2528929) is a registered broker and investment advisor currently employed by Moloney Securities Asset Management LLC (CRD#:282448) of Henderson, NV. His previous employers include Moloney Investment Advisory LLC (CRD#:282140) of Laguna Miguel, CA, Moloney Securities Co., Inc. (CRD#:38535) also of Henderson, and Western International Securities, Inc. (CRD#:39262), of Westlake Village, CA. He has been in the industry since 1994. Continue reading ›

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Dennis J. Murphy (a/k/a Dennis James Murphy) (CRD# 4840274), a previously-registered broker, has been barred from the securities industry by the Financial Industry Regulatory Authority (FINRA) for failing to appear for testimony in connection with a FINRA investigation concerning his employer’s supervision of potentially unsuitable trading. Failing to cooperate with FINRA in this manner constituted a violation of FINRA Rules and Murphy was barred from associating with any FINRA member firm in any capacity.Dennis J. Murphy (a/k/a Dennis James Murphy) (CRD# 4840274), a previously-registered broker, has been barred from the securities industry by the Financial Industry Regulatory Authority (FINRA) for failing to appear for testimony in connection with a FINRA investigation concerning his employer’s supervision of potentially unsuitable trading. Failing to cooperate with FINRA in this manner constituted a violation of FINRA Rules and Murphy was barred from associating with any FINRA member firm in any capacity. Continue reading ›

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