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Articles Posted in Stockbroker Misconduct

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James Thaddeus Walesa (CRD# 1061209), a financial broker, with 39 years of industry experience, has been sued by FINRA, for selling away. At the time of the alleged misconduct, James Walesa was registered with Arkadios Capital in Park Ridge, Illinois. His BrokerCheck history shows 18 disclosures.  One was in 2013 and the remaining 17 between 2020-2025.  These allegations include recommending unsuitable investments, often in companies where he held ownership, operational, or management roles.  Complaints raise concerns about breach of contract, fiduciary duty violations, negligence, failures in due diligence, and misrepresentations or omissions related to alternative investments.James Thaddeus Walesa (CRD# 1061209), a financial broker with 39 years of industry experience, has been sued by FINRA, for selling away.

At the time of the alleged misconduct, James Walesa was registered with Arkadios Capital in Park Ridge, Illinois. His BrokerCheck history shows 18 disclosures. One was in 2013 and the remaining 17 between 2020-2025. These allegations include recommending unsuitable investments, often in companies where he held ownership, operational, or management roles. Complaints raise concerns about breach of contract, fiduciary duty violations, negligence, failures in due diligence, and misrepresentations or omissions related to alternative investments. Continue reading ›

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Nicholas Armellino (CRD# 3189691), a broker working for GMS Group in Jersey City, New Jersey, was recently barred because he refused to appear for on-the-record testimony requested by FINRA in connection with an investigation that originated from a regulatory tip submitted to FINRA. This refusal to provide testimony during a regulatory investigation violated FINRA Rule 8210. He did not admit or deny the findings. Armellino did initially cooperate with FINRA’s investigation, but then he stopped. Nicholas Armellino had 11 disclosures during his 25 years of working as a broker. Five of these investor disputes from 2006 through 2016 were settled by the brokerage firm giving the client money in return for the damages.  They included allegations such as unauthorized trading, making unsuitable investments and misrepresentations regarding certain securities, failing to provide the client with several notices of material events prior to the customer’s purchase of a bond and excessive trading in an unsuitably leveraged account. Two of the investor disputes were denied, which means that the broker and or their firm revied the customer’s complaint and determined that it is unfounded or lacks merit. It does not necessarily mean the complaint was false, but they did not find sufficient evidence to support the customer.Nicholas Armellino (CRD# 3189691), a broker working for GMS Group in Jersey City, New Jersey, was recently barred because he refused to appear for on-the-record testimony requested by FINRA in connection with an investigation that originated from a regulatory tip submitted to FINRA. This refusal to provide testimony during a regulatory investigation violated FINRA Rule 8210. He did not admit or deny the findings. Armellino did initially cooperate with FINRA’s investigation, but then he stopped. Continue reading ›

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Mohammed A. Salim (CRD# 7126671), a financial broker, with five years of industry experience, has been permanently barred from associating with any FINRA member firm following allegations of unauthorized sales and improper transfers of funds from a customer’s account to cover his personal creditors. At the time of the alleged misconduct, Salim was employed by Morgan Stanley in Deer Park, New York. The firm disclosed that it had terminated Salims’ registration due to concerns involving unauthorized sales and customer fund transfers. According to FINRA, while Salim did not admit or deny the findings, he chose not to appear for on-the-record testimony after initially cooperating with the investigation.   FINRA regulates the brokerage industry and investigate when things go awry.  To prevent similar misconduct, firms are encouraged to strengthen internal controls that detect unusual account activity including unauthorized transfers or third-party payments.  Regular audits, close supervision of broker activity, and implementing robust customer verification policies can reduce the risk of financial exploitation and help protect investors.  Investors themselves should also monitor their account statements carefully and immediately report any discrepancies.Mohammed A. Salim (CRD# 7126671), a financial broker, with five years of industry experience, has been permanently barred from associating with any FINRA member firm following allegations of unauthorized sales and improper transfers of funds from a customer’s account to cover his personal creditors. Continue reading ›

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According to FINRA Disciplinary actions for September 2025, 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
Neil S. Cohen Merill Lynch, Pierce, Fenner & Smith Inc.
Metlife Securities
Jim Carl Dedmon Jr. Wells Fargo Clearing Services LLC
Morgan Stanley
Hamish Andre Grason UBS Financial Services Inc
Merill Lynch, Pierce, Fenner & Smith Inc.
Adrian Malcolm Ince Standard New York, Inc.
ICBC Standard Securities Inc.
Marcelo Jorcin Insight Securities Inc
Jihoon Park MML Investors Services LLC
Frey D. Pena Perez J. P. Morgan Securities
Patrick Aaron Pistor Equitable Advisors LLC
Jason J. Ratkovich J. P. Morgan Securities
Joseph Alan Seidler RBC Capital Markets LLC
Wells Fargo Clearing Services LLC
Anand Anthony Sookbir JP Morgan Securities LLC
Patsy Ann Turrentine Prospera Financial Services Inc
Rodman & Renshaw Inc.

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According to FINRA Disciplinary actions for September 2025, 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
Jared Stephen Dulski Citigroup Global Markets Inc.
Oppenheimer & Co Inc.
Samuel D. Frankfort Rockefeller Financial LLC
Raymond James & Associates, Inc.
Tony Graybeal Wells Fargo Clearing Services, LLC
Suntrust Investment Services, Inc.
Joshua Austin Harris First Citizens Investor Services
Wells Fargo Clearing Services LLC
Joseph Alan Seidler RBC Capital Markets LLC
Wells Fargo Clearing Services LLC
Andrew Smith Farmers Financial Solutions LLC
U.S. Bancorp Investments Inc.
Katherine Alexanra Tarbox SVB Securities LLC
Raymond James & Associates, Inc.

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According to FINRA Disciplinary actions for September 2025, 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
Cody M. Anderson Equitable Advisors LLC
Sharon Bass JP Morgan Securities LLC
HSBC Securities (USA) Inc.
Stacey Joy Chen Goldman Sachs & Co. LLC
Rebecca Katherine Hart
Kathy Jean Koester LPL Financial LLC
Invest Financial Corporation
Jennifer Marie Kuntzman
James Parascandola Pruco Securities LLC
Equitable Advisors LLC
David Ryan Vega III Assetmark Brokerage LLC
Charles Schwab & Co. Inc
Zachary A. Warnelis Nationwide Investment Services

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According to FINRA Disciplinary actions for August 2025, 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
Jon David Broadbent Lawson Financial Corporation
Pamela Denise Lawson Lawson Financial Corporation
Robert Warren Lawson Lawson Financial Corporation
J Milton Newton Inc
Bryan James Moskowitz NYLife Securities LLC
Spartan Capital Securities LLC
Kevin Nowaskey Stifel Nicolaus & Company Inc
Moelis & Company LLC
Joshua Morgan Pruitt Raymond James & Associates Inc
Merrill Lynch, Pierce, Fenner & Smith Inc
Durgesh Rajawat Kestra Investment Services LLC
Merrill Lynch, Pierce, Fenner & Smith Inc

Continue reading ›

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According to FINRA Disciplinary actions for August 2025, 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
Amber Nicole Cook U.S. Bancorp Investments Inc
Ida Cukier Shkurman Insight Securities Inc
Colony Park Financial Services
William Shane Garrow BOK Financial Securities Inc
Banc of America Investment Services
Robert Lee Remine Osaic Wealth Inc
Securities America Inc
Jose Angel Sanchez Insight Securities Inc
Horwitz & Associates Inc

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Isaiah Thomas Williams Jr. was a Florida financial advisor who has allegedly gone rogue possibly stealing over $2 million from his client Reshad Jones, former safety for the Miami Dolphins, for travel, strip clubs, child support payment and legal fees from 2020-2024. At the time of the incident, Isaiah Thomas Williams Jr. was a vice president at Merrill Lynch. Merrill Lynch is also being sued for damages and failure to supervise their advisor properly amongst claims that the bank has a fiduciary duty to safeguard the client’s assets. The money stolen during 133 transfers from Reshad Jones’ Bank of America account including transfers to Isaiah Williams American Express cards during these four years. Isaiah Thomas Williams Jr. was a Florida financial advisor who has allegedly gone rogue possibly stealing over $2 million from his client Reshad Jones, former safety for the Miami Dolphins, for travel, strip clubs, child support payment and legal fees from 2020-2024. Continue reading ›

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According to FINRA Disciplinary actions for August 2025, 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
Kwabena Adusei
Rezwan Mohammed Alam PNC Investments
Merill Lynch, Pierce, Fenner & Smith Inc.
Courtney Rae Buth
Jesus Gabriel Cantu JP Morgan Securities LLC
Bennett Knapp Ely Principal Securities, Inc
Calton & Associates Inc
Howard O’Keefe Graham Stonex Securities Inc
Wells Fargo Clearing Services LLC
Kristina Jaymes Hoisington
Lawrence Nathaniel Parker Northwestern Mutual Investment
Gian Carlo Piovanetti Popular Securities LLC

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