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Articles Posted in Stockbroker Misconduct

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According to FINRA Disciplinary actions for January 2026, 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
Federico Gonzalez Oppenheimer & Co. Inc.
Truist Investment Services Inc.
Austin Matthew Martinez TIAA-CREF Individual & Institutional Services, LLC
Bernie Mohar UBS Financial Services Inc.
Merrill Lynch, Pierce, Fenner & Smith Inc.
Kathleen Rashleigh UBS Financial Services Inc.
Merrill Lynch, Pierce, Fenner & Smith Inc.
Michael Lee Young Jr. LPL Financial LLC
Commonwealth Financial Network

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Thomas Lansing (CRD# 5920861) is a broker and investment advisor currently registered with Cetera Financial Specialists LLC (CRD# 10358) of Greenwich, NY. Previously, he was registered with and employed by Equity Services, Inc. (CRD# 265) of Burnt Hills, NY, and MSI Financial Services, Inc. (CRD# 14251) of Latham, NY. He has been in the industry since 2011. In 2021, one of Lansing’s clients named him in a life insurance policy with his approval. Lansing failed to seek the required written permission from Cetera to be named as a beneficiary. The client passed away in July of 2024. In September, Lansing received a payment of $50,000 from the life insurance company. Lansing was not related to this customer and did not seek Cetera’s prior approval to receive the funds. In May of 2025, Cetera discovered the payout. Lansing later repaid the sum to the client’s estate at Cetera’s request.Thomas Lansing (CRD# 5920861) is a broker and investment advisor currently registered with Cetera Financial Specialists LLC (CRD# 10358) of Greenwich, NY. Previously, he was registered with and employed by Equity Services, Inc. (CRD# 265) of Burnt Hills, NY, and MSI Financial Services, Inc. (CRD# 14251) of Latham, NY. He has been in the industry since 2011. Continue reading ›

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After allegedly misappropriating over $9 million from an elderly client to finance a high-dollar lifestyle, Smyrna, Georgia-based Ejiro Okuma has agreed to pay the U.S. Securities and Exchange Commission a sum of more than $13 million, including a civil penalty of $3 million. Ejiro Ode Okuma (CRD# 5774832, also known as “EJ Okuma”) is a former registered broker and investment advisor whose last known employer was Equitable Advisors, LLC (CRD#:6627) of Atlanta, GA. His previous employer was Edward Jones (CRD#:250), also of Atlanta. Additionally, Okuma also owned and operated Okuma Capital Management in Georgia. He has been in the industry since 2010.After allegedly misappropriating over $9 million from an elderly client to finance a high-dollar lifestyle, Smyrna, Georgia-based Ejiro Okuma has agreed to pay the U.S. Securities and Exchange Commission a sum of more than $13 million, including a civil penalty of $3 million. Continue reading ›

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Jose Abel Gamez (CRD# 4292479) is a former registered broker and investment advisor. His most recent employer was Raymond James Financial Services, Inc. (CRD# 6694) of San Antonio, Texas. His previous employers include Chase Investment Services Corp. (CRD# 25574), LPL Financial LLC (CRD#:6413), USAA Investment Management Company (CRD# 5475), also of San Antonio, and Capital One Investment Services LLC (CRD# 25658) of Round Rock, Texas. He has been in the industry since 2000. Raymond James discharged Gamez on June 25, 2025, after allegations that he misappropriated client funds for personal use. On 8/29/2025, a client filed a dispute requesting “reimbursement of principal and lost market opportunity following FA’s alleged misappropriation of funds.” The client requested damages of $1,863,371.00, and the firm settled the claim for $413,370.18.Jose Abel Gamez (CRD# 4292479) is a former registered broker and investment advisor. His most recent employer was Raymond James Financial Services, Inc. (CRD# 6694) of San Antonio, Texas. His previous employers include Chase Investment Services Corp. (CRD# 25574), LPL Financial LLC (CRD#:6413), USAA Investment Management Company (CRD# 5475), also of San Antonio, and Capital One Investment Services LLC (CRD# 25658) of Round Rock, Texas. He has been in the industry since 2000. Continue reading ›

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Eric Brian Kleiner (CRD# 4135180) is a previously registered broker and investment advisor, last employed with Morgan Stanley (CRD# 149777) of New York, New York. Previously, he was employed by Wells Fargo Advisors, LLC (CRD# 19616) and Prudential Securities, Inc. (CRD# 7471), both based in New York. He has been in the industry since 2000. Morgan Stanley discharged Kleiner on 3/18/2025 after allegations of “recommendations to customers of non-firm approved and firm restricted investments, including ones in which Mr. Kleiner was also invested, failure to fully disclose outside investment, and use of personal device to engage in unauthorized disclosure of confidential, internal use only Firm information.” The allegations stem from seven customer disputes filed between April 16, 2025, and December 5, 2025, with similar claims of investment strategies that were not authorized by Morgan Stanley or in the clients' best interests. One dispute includes a request for damages of $400,000. All seven disputes are currently pending.Eric Brian Kleiner (CRD# 4135180) is a previously registered broker and investment advisor, last employed with Morgan Stanley (CRD# 149777) of New York, New York. Previously, he was employed by Wells Fargo Advisors, LLC (CRD# 19616) and Prudential Securities, Inc. (CRD# 7471), both based in New York. He has been in the industry since 2000. Continue reading ›

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Robert Val Lybbert (CRD# 7451138, also, “Robert V. Lybbert”) is a registered broker and investment advisor currently employed by Edward Jones (CRD#: 250) of Issaquah, WA. He was previously employed (as an investment advisor) by Elite Wealth Management, Inc. (CRD# 132122) and Lattice Capital Management LLC (CRD#:141860) of Kirkland, WA. He has been in the industry since 2021. Lybbert is the subject of 5 disclosures, all customer disputes filed between June 12, 2025, and October 17, 2025, with collective total damages of $21,475,348.84.Robert Val Lybbert (CRD# 7451138, also, “Robert V. Lybbert”) is a registered broker and investment advisor currently employed by Edward Jones (CRD#: 250) of Issaquah, WA. He was previously employed (as an investment advisor) by Elite Wealth Management, Inc. (CRD# 132122) and Lattice Capital Management LLC (CRD#:141860) of Kirkland, WA. He has been in the industry since 2021. Continue reading ›

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Sean T. Sullivan (CRD#: 6283466) is a previously registered broker last employed with Sovereign Global Advisors LLC of Denver, Colorado. His previous employers were Spartan Capital Securities, LLC (CRD#:146251) of Garden City, New York, Aegis Capital Corp. (CRD#:15007) of Melville, New York, and Joseph Stone Capital L.L.C. (CRD#:159744) of Hauppauge, New York. He has been in the industry since 2014. Sullivan’s CRD contains 11 disclosures, including 9 customer disputes. The most recent disclosure is a disciplinary action by FINRA related to Sullivan’s time at Aegis. During his tenure at Aegis, Sullivan placed 14 unauthorized trades in the non-discretionary accounts of four customers, who were all over the age of 60 and had a collective account value of $250,000. He neither contacted these customers nor obtained their permission to make these transactions on their behalf. The firm reversed the trades for three of the customers while the fourth filed a complaint with a state regulator, closed his account and transferred his holdings to a different broker-dealer. The FINRA disciplinary action is currently “pending.”Sean T. Sullivan (CRD#: 6283466) is a previously registered broker last employed with Sovereign Global Advisors LLC of Denver, Colorado. His previous employers were Spartan Capital Securities, LLC (CRD#:146251) of Garden City, New York, Aegis Capital Corp. (CRD#:15007) of Melville, New York, and Joseph Stone Capital L.L.C. (CRD#:159744) of Hauppauge, New York. He has been in the industry since 2014. Continue reading ›

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William Bernard Tunink (CRD# 2738224, aka "Bill Tunink") is a former registered broker and investment advisor last employed by LPL Financial LLC (CRD# 6413) of West Des Moines, Iowa. His previous employer was Avantax Investment Services, Inc. (CRD# 13686). He began in the industry in 1996. Tunink is the subject of 17 disclosures. His discharge from LPL is dated September 8, 2025, indicating that the firm terminated his employment after failing to disclose that he was borrowing money from customers. He also did not receive the firm's permission before taking out loans from customers or settling a customer dispute outside of the firm. All the remaining disclosures are customer disputes, with one closed without action.William Bernard Tunink (CRD# 2738224, aka “Bill Tunink”) is a former registered broker and investment advisor last employed by LPL Financial LLC (CRD# 6413) of West Des Moines, Iowa. His previous employer was Avantax Investment Services, Inc. (CRD# 13686). He began in the industry in 1996. Continue reading ›

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Christopher John Jacobi (CRD# 1648679, aka “Chris Jacobi”) is a former registered broker and investment advisor last employed by Ameriprise Financial Services, LLC (CRD# 6363) of Pensacola, FL. Jacobi's previous employers include Wachovia Securities, LLC (CRD# 19616) of Destin, FL, NBC Securities, Inc. (CRD# 17870) of Birmingham, AL, and Dean Witter Reynolds Inc. (CRD# 7556) of Purchase, NY. He began in the industry in 1987. Since June of 2024, Jacobi has had 11 customer disputes filed against him. Some are settled, others are pending. Most include allegations of unsuitable investment recommendations.  Of the settled claims filed, the collective requested damages total $379,000, and the settlements total $150,000. Although Jacobi is no longer employed as a broker or investment advisor, he is still subject to FINRA rules and regulations. No disciplinary actions have been filed as of this writing.Christopher John Jacobi (CRD# 1648679, aka “Chris Jacobi”) is a former registered broker and investment advisor last employed by Ameriprise Financial Services, LLC (CRD# 6363) of Pensacola, FL. Jacobi’s previous employers include Wachovia Securities, LLC (CRD# 19616) of Destin, FL, NBC Securities, Inc. (CRD# 17870) of Birmingham, AL, and Dean Witter Reynolds Inc. (CRD# 7556) of Purchase, NY. He began in the industry in 1987. Continue reading ›

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Mario L Martinez (CRD# 6144561), a financial advisor formerly associated with Bank of America’s Merrill Lynch, Pierce, Fenner & Smith Inc. in Fort Lauderdale, Florida, was recently permanently barred from the securities industry. Martinez had been working at Merrill Lynch, Pierce, Fenner & Smith Inc for 9 years in the Merrill Edge unit. Prior to working at Merrill Lynch, Pierce, Fenner & Smith Inc he was employed at AXA Advisors LLC in Miami, FL for almost two years.Mario L Martinez (CRD# 6144561), a financial advisor formerly associated with Bank of America’s Merrill Lynch, Pierce, Fenner & Smith Inc. in Fort Lauderdale, Florida, was recently permanently barred from the securities industry. Martinez had been working at Merrill Lynch, Pierce, Fenner & Smith Inc for 9 years in the Merrill Edge unit. Continue reading ›

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