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Articles Posted in Stockbroker Misconduct

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Kevin Rainwater (CRD:#3098443) is a currently registered broker and investment advisor currently employed with Arkadios Capital (CRD#: 282710) of Atlanta, GA, since 2017. He was previously employed with Stancorp Equities, Inc. (CRD#:19517), also of Atlanta, and with Manequity, Inc. (CRD#:5249), of Boston, MA.  He has been in the industry since 1998. Rainwater is the subject of four customer disputes: one filed on 4/26/2019, 2/7/2020 for $100,000, and two filed on 3/8/2020 for $125,000 and $650,000. Allegations include unauthorized trading and unsuitable product recommendations. Rainwater denies the allegations. These disputes are currently marked as “pending.”Kevin Rainwater (Kevin Lamar Rainwater CRD#3098443) is a currently registered broker and investment advisor currently employed with Arkadios Capital (CRD#: 282710) of Atlanta, GA, since 2017. He was previously employed with Stancorp Equities, Inc. (CRD#:19517), also of Atlanta, and with Manequity, Inc. (CRD#:5249), of Boston, MA. He has been in the industry since 1998.

Rainwater is the subject of four customer disputes: one filed on 4/26/2019, 2/7/2020 for $100,000, and two filed on 3/8/2020 for $125,000 and $650,000. Allegations include unauthorized trading and unsuitable product recommendations. Rainwater denies the allegations. These disputes are currently marked as “pending.” Continue reading ›

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John Wyshak (John Charles Wyshak CRD: #1272260) is a former registered broker and investment advisor. His last known employer was Raymond James & Associates, Inc. (CRD#:705) of Los Angeles, CA. His previous employers include Wedbush Securities Inc. (CRD#:877), also of Los Angeles, Ryan, Beck & Co., LLC. (CRD#:3248) of Florham Park, NJ, and Gruntal & Co., L.L.C. (CRD#:372), of New York, NY. He has been in the industry since 1984. A customer dispute filed on 01/29/2018 alleged that Wyshak engaged in actions such as fraud, breach of contract, conversion, churning, fraudulent concealment, and other industry violations from 10/2014 through 11/2017. The two clients requested damages of $1,023,460.00, and his employer, Raymond James & Associates, settled the case for $700,000.John Wyshak (John Charles Wyshak CRD: #1272260) is a former registered broker and investment advisor. His last known employer was Raymond James & Associates, Inc. (CRD#:705) of Los Angeles, CA. His previous employers include Wedbush Securities Inc. (CRD#:877), also of Los Angeles, Ryan, Beck & Co., LLC. (CRD#:3248) of Florham Park, NJ, and Gruntal & Co., L.L.C. (CRD#:372), of New York, NY. He has been in the industry since 1984. Continue reading ›

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Jeremy Rosen (Jeremy Seth Rosen CRD# 5513416) is a broker currently registered with Nationwide Planning Associates, Inc. (CRD# 31029) in Easton, Pennsylvania. Jeremy Rosen has multiple customer disputes alleging unsuitable investments. In the securities industry since 2008, he was previously registered with Berthel, Fisher & Company Financial Services, Inc. (CRD# 13609) and Planned Financial Programs, Inc. (CRD# 3049).Jeremy Rosen (Jeremy Seth Rosen CRD# 5513416) is a broker currently registered with Nationwide Planning Associates, Inc. (CRD# 31029) in Easton, Pennsylvania.

Jeremy Rosen has multiple customer disputes alleging unsuitable investments. In the securities industry since 2008, he was previously registered with Berthel, Fisher & Company Financial Services, Inc. (CRD# 13609) and Planned Financial Programs, Inc. (CRD# 3049). Continue reading ›

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Mark Cline (Mark Alan Cline CRD #3206962) is a currently registered broker currently employed with National Securities Corporation (CRD#: 7569) of Wildwood, FL, employed since 2014. His previous employers include Great Nation Investment Corporation (CRD#19981), United Equity Securities, LLC (CRD#47261), and CCF Investments, Inc. (CRD# 136571), all of Fort Lauderdale, FL. Cline has a total of twelve state licenses and two SRO licenses. He has been in the industry since 1999. From 12/11/2019 through 12/31/2019, a total of twelve customer disputes were filed against Cline alleging “suitability.” No other information is currently available on any of these disputes. There is no indication as to whether these disputes were for one client or multiple clients.

Mark Cline (Mark Alan Cline CRD: #3206962) is a currently registered broker currently employed with National Securities Corporation (CRD#: 7569) of Wildwood, FL, employed since 2014. His previous employers include Great Nation Investment Corporation (CRD#:19981), United Equity Securities, LLC (CRD#:47261), and CCF Investments, Inc. (CRD#:136571), all of Fort Lauderdale, FL. Cline has a total of twelve state licenses and two SRO licenses. He has been in the industry since 1999. Continue reading ›

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David Del Rio (aka “Chico Del Rio”, CRD: #4771963) is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of San Diego, CA. Previous employers include Suntrust Investment Services, Inc. (CRD#:17499) of Fort Meyers, FL, LPL Financial LLC (CRD#:6413) of Bellmore, NY, and IFMG Securities, Inc. (CRD#:14416) of Naples, FL. He has been in the industry since 2008. On 9/13/2018, a Probable Cause Affidavit was filed in Palm Beach County Circuit Criminal Court in the State of Florida, leading to an investigation of allegations against Del Rio for: 2 counts felony Exploitation of the Elderly 2 counts felony Money Laundering $100K or more 1 count felony Organized Scheme to Defraud 50K or more 6 counts Fraudulent Use of Personal ID over $5K 1 count Fraudulent Use of Personal ID over $50K 10 counts felony Grand Theft 65 or older $10K or more 6 counts felony Grand Theft 65 or older $50K or moreDavid Del Rio (aka “Chico Del Rio”, CRD: #4771963) is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of San Diego, CA. Previous employers include Suntrust Investment Services, Inc. (CRD#:17499) of Fort Meyers, FL, LPL Financial LLC (CRD#:6413) of Bellmore, NY, and IFMG Securities, Inc. (CRD#:14416) of Naples, FL. He has been in the industry since 2008.

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On February 12, 2020, the Financial Industry Regulatory Authority (“FINRA”) permanently barred Ronald Hannes (Ronald Walter Hannes CRD# 1452241) from associating with any FINRA member in any capacity for refusing to cooperate with FINRA officials during their investigation of him for conversion of consumer funds. Hannes operated out of Hannes Financial Services Inc in Spokane Washingon. Letter of Acceptance Waiver and Consent No. 2019064915301 (Feb. 13, 2020). Hannes was previously registered with Woodbury Financial Services Inc. in Spokane, Washington from 1994-2019. Prompting FINRA’s investigation was a Uniform Termination Notice for Securities Industry Registration (U5) which was filed on December 18, 2019. According the AWC, “. . .[b]y Uniform Termination Notice for Securities Industry Registration (Form U5) dated December 18, 2019, Woodbury terminated Hannes' association with the Firm and disclosed that the Firm ‘received notice from a client that funds were paid to [Hannes] for purchase of a life insurance contract that were not forwarded to the life insurance company.’” Id.On February 12, 2020, the Financial Industry Regulatory Authority (“FINRA”) permanently barred Ronald Hannes (Ronald Walter Hannes CRD# 1452241) from associating with any FINRA member in any capacity for refusing to cooperate with FINRA officials during their investigation of him for conversion of consumer funds. Hannes operated out of Hannes Financial Services Inc in Spokane Washingon. Letter of Acceptance Waiver and Consent No. 2019064915301 (Feb. 13, 2020). Hannes was previously registered with Woodbury Financial Services Inc. in Spokane, Washington from 1994-2019.

Prompting FINRA’s investigation was a Uniform Termination Notice for Securities Industry Registration (U5) which was filed on December 18, 2019. According the AWC, “. . .[b]y Uniform Termination Notice for Securities Industry Registration (Form U5) dated December 18, 2019, Woodbury terminated Hannes’ association with the Firm and disclosed that the Firm ‘received notice from a client that funds were paid to [Hannes] for purchase of a life insurance contract that were not forwarded to the life insurance company.’” Id. Continue reading ›

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John Krohn (John Michael Krohn CRD#2722975) is a formerly registered broker who worked for Principal Securities, Inc. (CRD# 1137) at their West Des Moines, Iowa branch office. He had been in the securities industry since 1996.  According to his CRD report, Mr.Krohn was a board member of Domiknow and Spotlight Innovation, Inc since 2015.  Krohn was also the managing member of Cash Flow Structure Group in Des Moines, Iowa. John Krohn Selling Away Claims   John Krohn has 6 disclosures on his publicly-available FINRA BrokerCheck report, including 5 customer disputes and 1 regulatory disclosure: April, 2020: A dispute alleged that “the firm failed to supervise John Krohn's private securities transactions and dealings with claimants, is liable for Mr. Krohn's misconduct and claimant's losses.” $10,000,000 in damages are requested, and the dispute is pending as of this writing.John Krohn (John Michael Krohn CRD#2722975) is a formerly registered broker who worked for Principal Securities, Inc. (CRD# 1137) at their West Des Moines, Iowa branch office. He had been in the securities industry since 1996. According to his CRD report, Mr.Krohn was a board member of Domiknow and Spotlight Innovation, Inc since 2015.  Krohn was also the managing member of Cash Flow Structure Group in Des Moines, Iowa.

John Krohn Selling Away Claims  

John Krohn has 6 disclosures on his publicly-available FINRA BrokerCheck report, including 5 customer disputes and 1 regulatory disclosure:

April, 2020: A dispute alleged that “the firm failed to supervise John Krohn’s private securities transactions and dealings with claimants, is liable for Mr. Krohn’s misconduct and claimant’s losses.” $10,000,000 in damages are requested, and the dispute is pending as of this writing. Continue reading ›

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According to FINRA Disciplinary actions for February 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
  DiLiberto, Jesse   Fidelity Brokerage Services
  Wilmington Capital Securities, LLC
  Fry, Stephen   Woodbury Financial Services, Inc
  H.D. Vest Investment Services
  Johnson, Timothy Jr.   MML Investors Services, LLC
  Suntrust Investment Services, Inc
  Mannera, Samuel   Wells Fargo Clearing Services, LLC
  Merrill Lynch, Pierce, Fenner & Smith, Inc.
  Karney, Amogh
  McGuire, Jesse   JP Morgan Securities LLC
  Chase Investment Services Corp.
  Mostert, John   Quest Capital Strategies, Inc
  Intersecurities, Inc.
  Murray, Robert   SW Financial
  Joseph Stone Capital LLC
  Oplinger, Todd   IFS Securities
  Ridgeway & Conger, Inc
  Rangel, Jesse   TD Ameritrade, Inc
  Morgan Stanley
  Stokes, Dain   LPL Financial LLC
  Edward Jones
  Thrush, Steven   Summit Brokerage Services, Inc
  Cambridge Investment Research, Inc
  Washington, Robert

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According to FINRA Disciplinary actions for February 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
  Cline, Kevin   Source Capital Group, Inc
  Ridgemont Securities, Inc
  Delaney, Maxwell   Brill Securities, Inc
  National Securities Corporation
  Henrich, Todd   National Securities Corp
  Obsidian Financial Group
  Garland, James   Garden State Securities
  Global Arena Capital Corp
  Kloskowski, Daniel   National Securities Corp
  Obsidian Financial Group, Inc
  Lowe, Brent   Morgan Stanley Smith Barney
  Merrill Lynch, Pierce, Fenner & Smith
  Ray, Aaron   Vanguard Capital
  Blue Vase Securities, LLC
  Spaventa, Andrew   SW Financial
  Network 1 Financial Securities
   Kraft, David   Morgan Stanley
  Wells Fargo Advisors
  Williams, Brian   Waddell & Reed
  Benjamin F. Edwards & Company

Continue reading ›

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According to FINRA Disciplinary actions for February 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:

NAME FORMER EMPLOYERS
  Belesis, George   Portfolio Advisors Alliance, LLC
  John Thomas Financial
  Berghausen, Joseph   ADP Broker-Dealer, Inc
  Cetera Advisor Networks LLC
  Blount, Dustin   MML Investors Services, LLC
  Northwestern Mutual Investment Services, LLC
  Chu, Felix   NYLife Securities
  Choburn, Brian   Maxim Group LLC
  The Buckingham research Group Inc
  Drury, Michael   Stillpoint Capital, LLC
  United Business Brokers, Inc
  Nguyen, Hiep   Merrill Lynch, Pierce, Fenner & Smith Inc
  Citizens Securities, Inc
  Lee, Robert
  Ricker, Gregory    Westpark Capital, Inc
  National Securities Corp
  Rockwell, David   Cetera Advisor Networks LLC
  Suntrust Investment Services
  Ross, Paul   Hantz Financial Services, Inc
  Thrivent Investment Management Inc
  Schneck, Mark   Northwestern Mutual Investment Services, LLC
  MML Investors Services
  Zakarin, Eric   Lombard Securities Inc
  Independent Financial Group

Continue reading ›

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