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Articles Posted in Stockbroker Misconduct

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Roger Owens (CRD# 2359204), a broker previously employed by Cetera Advisors LLC in Elkton, Maryland, has been suspended by the Financial Industry Regulatory Authority (FINRA) from acting as a broker. Owens worked for Cetera for the past decade. Owens began in the industry in 1994. His problems began when he started selling unregistered Woodbridge securities. In 2018, he settled a customer complaint for $45,000 arising out of the sale of Woodbridge Mortgage Investment Funds.  Among the allegations in that complaint were (1) violation of federal and state securities laws, (2) breach of contract and fiduciary duty, (3) common law fraud, and (4) negligence. Unfortunately, this complaint was only the tip of the iceberg.Roger Owens (CRD# 2359204), a broker previously employed by Cetera Advisors LLC in Elkton, Maryland, has been suspended by the Financial Industry Regulatory Authority (FINRA) from acting as a broker. Owens worked for Cetera for the past decade.

Owens began in the industry in 1994. His problems began when he started selling unregistered Woodbridge securities. In 2018, he settled a customer complaint for $45,000 arising out of the sale of Woodbridge Mortgage Investment Funds.  Among the allegations in that complaint were (1) violation of federal and state securities laws, (2) breach of contract and fiduciary duty, (3) common law fraud, and (4) negligence. Unfortunately, this complaint was only the tip of the iceberg. Continue reading ›

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Ricky Mantei (CRD# 1098981), a broker with Centaurus Financial, Inc. in Lexington, South Carolina is facing nine pending customer disputes as well as two regulatory disputes. Mantei has been with Centaurus since 2015, where he moved from the infamous J.P. Turner & Company, a firm that has since been shut down due to numerous regulatory issues. Previous employers also include Gunnallen Financial, Inc. and First Allied Securities, Inc.Ricky Mantei (CRD# 1098981), a broker with Centaurus Financial, Inc. in Lexington, South Carolina is facing nine pending customer disputes as well as two regulatory disputes. Mantei has been with Centaurus since 2015, where he moved from the infamous J.P. Turner & Company, a firm that has since been shut down due to numerous regulatory issues. Previous employers also include Gunnallen Financial, Inc. and First Allied Securities, Inc. Continue reading ›

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In the past three years, Robert Douglas Armstrong (CRD# 5236735) (a/k/a R. Douglas Armstrong), a broker with Dawson James Securities, Inc. of Boca Raton, Florida, has settled five customer disputes and is currently facing two additional pending disputes. Prior to joining Dawson James Securities in 2012, Armstrong worked for Aurora Capital LLC and Westpark Capital, Inc.In the past three years, Robert Douglas Armstrong (CRD# 5236735) (a/k/a R. Douglas Armstrong), a broker with Dawson James Securities, Inc. of Boca Raton, Florida, has settled five customer disputes and is currently facing two additional pending disputes. Prior to joining Dawson James Securities in 2012, Armstrong worked for Aurora Capital LLC and Westpark Capital, Inc. Continue reading ›

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Katherine Greer Nishnic (CRD# 2499553) of Centaurus Financial, Inc. in Lexington, South Carolina, faces seven pending customer disputes, six of which arose this year. Prior to joining Centaurus Financial in 2015, Nishnic worked for First Allied Securities, Gunnallen Financial, Inc., and J.P. Turner & Company, a firm that has since been shut down due to numerous regulatory problems.Katherine Greer Nishnic (CRD# 2499553) of Centaurus Financial, Inc. in Lexington, South Carolina, faces seven pending customer disputes, six of which arose this year. Prior to joining Centaurus Financial in 2015, Nishnic worked for First Allied Securities, Gunnallen Financial, Inc., and J.P. Turner & Company, a firm that has since been shut down due to numerous regulatory problems. Continue reading ›

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Stephen Carver (a/k/a Stephen Corley Carver) (CRD# 2230161) of Peoria, Illinois, who was last registered with Lifemark Securities Corp., faces a pending customer dispute alleging elder abuse and seeking $9,300,000 in damages. Prior to his time at Lifemark Securities in Peoria Illinois, Carver was registered with Cetera Advisors LLC, Brewer Financial Services, LLC (a firm that has since been expelled), LPL Financial Corporation, Robert W. Baird & Co., Natcity Investments, Inc., and Dean Witter Reynolds Inc.Stephen Carver (a/k/a Stephen Corley Carver) (CRD# 2230161) of Peoria, Illinois, who was last registered with Lifemark Securities Corp., faces a pending customer dispute alleging elder abuse and seeking $9,300,000 in damages.

Prior to his time at Lifemark Securities in Peoria Illinois, Carver was registered with Cetera Advisors LLC, Brewer Financial Services, LLC (a firm that has since been expelled), LPL Financial Corporation, Robert W. Baird & Co., Natcity Investments, Inc., and Dean Witter Reynolds Inc. Continue reading ›

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In July 2019, the Financial Industry Regulatory Authority (FINRA), suspended Linda Zara (a/k/a Linda Zaramontoya) (CRD# 2322009) of Summit Brokerage Services, Inc. in Boca Raton for “borrow[ing] $44,292 from a 94 year old member firm customer without providing prior notice to, or obtaining prior written approval from her firm.” The conduct occurred while Zara was employed by Wells Fargo Clearing Services, LLC.In July 2019, the Financial Industry Regulatory Authority (FINRA), suspended Linda Zara (a/k/a Linda Zaramontoya) (CRD# 2322009) of Summit Brokerage Services, Inc. in Boca Raton for “borrow[ing] $44,292 from a 94 year old member firm customer without providing prior notice to, or obtaining prior written approval from her firm.” The conduct occurred while Zara was employed by Wells Fargo Clearing Services, LLC. Continue reading ›

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Perry Santillo, an investment manager based in Rochester, New York, has pleaded guilty to participating in a $115 million Ponzi scheme that defrauded at least a thousand investors by convincing them to invest in businesses that had little or no operations. He and his associate Christopher Parris solicited investments in their companies, which were supposedly involved in financial services, insurance, and real estate, including First Nationle Solution LLC, Percipience Global Corp., and United RL Capital Services.Perry Santillo, an investment manager based in Rochester, New York, has pleaded guilty to participating in a $115 million Ponzi scheme that defrauded at least a thousand investors by convincing them to invest in businesses that had little or no operations.

He and his associate Christopher Parris solicited investments in their companies, which were supposedly involved in financial services, insurance, and real estate, including First Nationle Solution LLC, Percipience Global Corp., and United RL Capital Services. Continue reading ›

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Ken Kavanagh (CRD#: 4502223) is a suspended broker who formerly worked for Morgan Stanley (CRD#: 149777) in New York City, Citigroup Global Markets (CRD#: 7059), and UBS Financial Services (CRD#: 8174). Ken Kavanaugh’s publicly-available FINRA BrokerCheck report lists 3 disclosures, including 1 customer dispute, 1 employment separation after allegations, and 1 regulatory action.Ken Kavanagh (CRD#: 4502223) is a suspended broker who formerly worked for Morgan Stanley (CRD#: 149777) in New York City, Citigroup Global Markets (CRD#: 7059), and UBS Financial Services (CRD#: 8174).

Ken Kavanaugh’s publicly-available FINRA BrokerCheck report lists 3 disclosures, including 1 customer dispute, 1 employment separation after allegations, and 1 regulatory action. Continue reading ›

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Dexter ThomasDexter Thomas (CRD# 1074222) was a broker who formerly worked for LPL Financial (CRD# 6413) in Dallas, Texas, United Planners Financial Services of America (CRD# 20804), National Planning Corporation (CRD# 29604), Invest Financial Corporation (CRD# 12984), AIG Financial Advisors (CRD# 133763), Sunamerica Securities (CRD# 20068), and others. Silver Law Group represents investors in arbitration claims against LPL Financial. (CRD# 1074222) was a broker who formerly worked for LPL Financial (CRD# 6413) in Dallas, Texas, United Planners Financial Services of America (CRD# 20804), National Planning Corporation (CRD# 29604), Invest Financial Corporation (CRD# 12984), AIG Financial Advisors (CRD# 133763), Sunamerica Securities (CRD# 20068), and others.

Silver Law Group represents investors in arbitration claims against LPL Financial. Continue reading ›

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Bobby Coburn (CRD# 1464789) is a barred broker who formerly worked for Securities America, Inc. (CRD# 10205) in Fort Meade, FL. He previously worked for Brecek & Young Advisors (CRD# 40395), Legend Equities Corporation (CRD# 30999), Nationwide Securities (CRD# 11173), and others.Bobby Coburn (CRD# 1464789) is a barred broker who formerly worked for Securities America, Inc. (CRD# 10205) in Fort Meade, FL. He previously worked for Brecek & Young Advisors (CRD# 40395), Legend Equities Corporation (CRD# 30999), Nationwide Securities (CRD# 11173), and others.

Silver Law Group represents investors in arbitration claims against Securities America, which is a subsidiary of Ladenburg Thalmann. Continue reading ›

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