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Articles Posted in Stockbroker Misconduct

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According to FINRA Disciplinary actions for June 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
  Eric Barbour   Wells Fargo Clearing Services, LLC
  J.P. Morgan Securities LLC
  David Cannata   Craig Scott Capital, LLC
  Brookstone Securities, Inc.
  Mark Garfinkel   Oppenheimer & Co. Inc.
  Raymond James & Associates, Inc.
  Jeffrey Hill   Wells Fargo Advisors
  Dougherty & Company LLC
  Tracy Kirby   Morgan Stanley
  Merrill Lynch, Pierce, Fenner & Smith Inc
  David Moxom   UBS Financial Services Inc.
  Wells Fargo Advisors, LLC
  Brent Porges   Meyers Associates, L.P.
  Newbridge Securities Corporation
  David Schrank   MML Investors Services, LLC
  Bankers Life Securities, Inc.
  Stephen Seglund   Kestra Investment Services, LLC
  LPL Financial LLC
  Kenneth Vaishville   Cantella & Co, Inc.
  Global Capital Strategies

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According to FINRA Disciplinary actions for June 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
  Joanna Abdelhadi   Wells Fargo Clearing Services, LLC
  Credit Suisse Securities LLC
  Kenneth Butschek   ProEquities, Inc.
  Securities Management & Research, Inc.
  Nathaniel Clay   Laidlaw & Company (UK) Ltd
  National Securities Corporation
  Alan Lau   Wells Fargo Clearing Services, LLC
  Wells Fargo Investments, LLC
  Scott Levine   Craft Capital Management LLC
  PHX Financial, Inc.
  Stefano Listella   J.P. Morgan Securities LLC
  Great Point Capital, LLC
  Stanley Martin   Allstate Financial Services, LLC
  H&R Block Financial Advisors, Inc.
  Scott Mason   Voya Financial Advisors, Inc.
  LPL Financial LLC
  Jon Scheier   Edward Jones
  Scott Snelling   Kestra Investment Services, LLC
  National Planning Corporation
  Elizabeth Sollars   Allstate Financial Services, LLC
  Marc Winters   Wedbush Securities Inc.
  UBS Financial Services Inc.

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According to FINRA Disciplinary actions for June 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
  Timothy Crowley   J.P. Morgan Securities LLC
  Chase Investment Services Corp
  Christian Evans   Morgan Stanley
  Highland Capital Funds Distributor, Inc.
  Randy Jackson   Merrill Lynch, Pierce, Fenner & Smith Inc
  E*Trade Securities LLC
  Fernando Landicho   Transamerica Financial Advisors, Inc.
  World Group Securities, Inc.
  Grizelle Perez   USC Securities LLC
  Sanders Morris Harris LLC
  John Wyshak   Raymond James & Associates, Inc.
  Wedbush Securities Inc.

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According to FINRA Disciplinary actions for July 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
  Robert Cacioppo   MML Investors Services, LLC
  NYLIfe Securities LLC
  Michael Davis   Allied Millennial Partners, LLC
  Syren Capital Advisors
  David Del Rio   LPL Financial LLC
  SunTrust Investment Services, Inc.
  Mary Beth Frassetto   Thrivent Investment Management Inc.
  Megan Hoffman   J.P. Morgan Securities LLC
  Chase Investment Services Corp.
  Jody Pullium   Allstate Financial Services, LLC
  PNC Investments
  Ana Rivera   Wells Fargo Clearing Services, LLC
  Wells Fargo Advisors, LLC
  George Schmidt, Jr.   Lincoln Financial Advisors Corporation
  Hornor, Townsend & Kent, Inc.
  Kevin Williams   Lucia Securities, LLC
  Wells Fargo Clearing Services, LLC

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According to FINRA Disciplinary actions for July 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
  Thomas Ambrose   Ambrose Wealth Management
  Cambridge Investment Research, Inc.
  Matthew Beaver   Grit Wealth Management, LLC
  Ameriprise Financial Services, Inc.
  Neal Carlson   Forthright Family Wealth Advisory LLC
  Wells Fargo Clearing Services, LLC
  Karl Foust, Jr.   H.D. Vest Investment Services
  GunnAllen Financial, Inc.
  Ryan Kaufman   Securities America, Inc.
  Woodbury Financial Services, Inc.
  Henry Osorio, Jr.   Westrock Advisors, Inc.
  S.W. Bach & Company
  Damion Smith   Great Gable Wealth Management
  Morgan Stanley
  Walter Taylor, Jr.   Wells Fargo Clearing Services, LLC
  Wells Fargo Advisors LLC
  Howard Walzer   BB&T Securities, LLC
  UBS Financial Services Inc.
  Xianyu Yu Zhang   Wells Fargo Clearing Services, LLC
  LPL Financial LLC

Continue reading ›

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According to FINRA Disciplinary actions for June 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
  Conrad Coggeshall   Packerland Brokerage Services, Inc.
  USA Financial Securities Corporation
  Madeline Colon
  Jennifer Holmes   Voya Financial Advisors, Inc.
  ING Financial Advisers, LLC
  Yee Yee Htwe   Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Farmers Financial Solutions, LLC
  Jennifer Pendley   J.P. Morgan Securities LLC
  David Stateman   Allstate Financial Services, LLC
  AXA Advisors, LLC
  Alexander Walker   Fidelity Brokerage Services LLC

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Ricardo Turlan is a previously registered broker who last worked for UBS Financial Services in San Antonio, Texas. Turlan’s record shows that in 2019 he was discharged from UBS after an investigation allegedly determined that he exercised discretion in client accounts without proper authorization and traded at unsuitable levels. Before working for UBS Financial Services (CRD# 8174) starting in 2015, Turlan was previously registered with BBVA Securities Inc. (CRD# 27060), BBVA Compas Investment Solutions, Inc (CRD# 17086), BBVA Investments Inc. (CRD# 31769), and Citicorp Investment Services (CRD# 23988). He had been in the industry since 2001.Ricardo Turlan is a previously registered broker who last worked for UBS Financial Services in San Antonio, Texas. Turlan’s record shows that in 2019 he was discharged from UBS after an investigation allegedly determined that he exercised discretion in client accounts without proper authorization and traded at unsuitable levels.

Before working for UBS Financial Services (CRD# 8174) starting in 2015, Turlan was previously registered with BBVA Securities Inc. (CRD# 27060), BBVA Compas Investment Solutions, Inc (CRD# 17086), BBVA Investments Inc. (CRD# 31769), and Citicorp Investment Services (CRD# 23988). He had been in the industry since 2001. Continue reading ›

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Dustin Shafer (Dustin Paul Shafer) is a currently-registered broker employed by Newbridge Securities Corporation (CRD# 104065) in Springfield, Illinois. He previously worked for Money Concepts Capital Corp (CRD# 12963), Chase Investment Services Corp (CRD# 25574), Banc One Securities Corporation (CRD# 16999), and Edward Jones (CRD# 250). Shafer has been in the industry since 2000.Dustin Shafer (Dustin Paul Shafer) is a currently-registered broker employed by Newbridge Securities Corporation (CRD# 104065) in Springfield, Illinois. He previously worked for Money Concepts Capital Corp (CRD# 12963), Chase Investment Services Corp (CRD# 25574), Banc One Securities Corporation (CRD# 16999), and Edward Jones (CRD# 250). Shafer has been in the industry since 2000. Continue reading ›

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George Schmidt, Jr. is a barred broker who was last registered with Lincoln Financial Advisors Corporation in Melville, NY. In February, 2020 Schmidt was terminated after an allegation of misappropriation. After that, he was barred from associating with any FINRA member. Silver Law Group represents investors in cases of stockbroker misconduct, including misappropriation. If you have investment losses, contact Scott Silver for a consultation at ssilver@silverlaw.com or (800) 975-4345. George Schmidt, Jr. is a barred broker who was last registered with Lincoln Financial Advisors Corporation in Melville, NY. In February, 2020 Schmidt was terminated after an allegation of misappropriation. After that, he was barred from associating with any FINRA member.

Silver Law Group represents investors in cases of stockbroker misconduct, including misappropriation. If you have investment losses, contact Scott Silver for a consultation at ssilver@silverlaw.com or (800) 975-4345. 

Before joining Lincoln Financial (CRD# 3978) in 2012, Schmidt was registered with Hornor, Townsend & Kent, Inc. (CRD# 4031), 1717 Capital Management Company (CRD# 4082), AXA Advisors, LLC (CRD# 6627), and The Equitable Life Assurance Society of the United States (CRD# 1039). Continue reading ›

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The Securities and Exchange Commission (SEC) is suing Frederick Stow (Frederick Markley Stow), a barred broker last employed by Raymond James in Nashville, Tennessee, for allegedly defrauding two senior citizens of over $943,500. “As alleged in our complaint, Stow took advantage of these seniors, abusing his access to their brokerage accounts to generate income for himself,” said Justin Jefferies, assoc. regional director, SEC’s Atlanta regional office. The SEC seeks the return of alleged ill-gotten gains, interest, injunctive relief, and a penalty. Federal prosecutors also filed criminal charges against Stow.The Securities and Exchange Commission (SEC) is suing Frederick Stow (Frederick Markley Stow), a barred broker last employed by Raymond James in Nashville, Tennessee, for allegedly defrauding two senior citizens of over $943,500.

“As alleged in our complaint, Stow took advantage of these seniors, abusing his access to their brokerage accounts to generate income for himself,” said Justin Jefferies, assoc. regional director, SEC’s Atlanta regional office. The SEC seeks the return of alleged ill-gotten gains, interest, injunctive relief, and a penalty.

Federal prosecutors also filed criminal charges against Stow. Continue reading ›

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