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Articles Posted in Stockbroker Misconduct

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Michael Carter (Michael Barry Carter) (CRD: #3232017) is a former registered broker and investment advisor whose last employer was Morgan Stanley (CRD#: 149777) of McLean, VA.  His previous employers include Ameriprise Financial Services, Inc. (CRD#:6363), Morgan Stanley & Co. Incorporated (CRD#:8209) and Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691), also of McLean, VA. He has been in the industry since 1999. Carter’s record has five disclosures, three of which are customer disputes with settlements totaling $5,199,232.26

Michael Carter (Michael Barry Carter CRD# 1373405) is a barred broker who was formerly registered with Morgan Stanley (CRD# 149777) out of their McLean, Virginia branch office. He had previously worked for Ameriprise Financial Services, Inc. (CRD# 6363) in Vienna, Virginia. Carter had been in the securities industry since 1999.

Michael Carter Disclosures

Michael Carter’s publicly-available FINRA BrokerCheck report lists seven disclosures, including four customer disputes (all involving misappropriation or unauthorized withdrawals), one employment separation after allegations, and two regulatory disclosures. Continue reading ›

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Stefan Anton Pastor (CRD: #5141819) is a former registered broker and investment advisor whose last employer was Raymond James Financial Services, Inc. (CRD# 6694) of Fort Lauderdale, FL. Pastor was also dually registered with Raymond James and Provenance Wealth Advisors during this period. His previous employers include Walnut Street Securities, Inc. (CRD#:15840), also of Fort Lauderdale, and Ameriprise Financial Services, Inc. (CRD#:6363) of Plantation, FL. He has been in the industry since 2006. After a customer’s complaint of forgery and unauthorized trades to her account and false sales confirmations, both Raymond James Financial and Provenance Wealth Advisors discharged him. The client requested damages in the amount of $38,725.00, and the case was settled for $60,000.Stefan Pastor (Stefan Anton Pastor) (CRD: #5141819) is a former registered broker and investment advisor whose last employer was Raymond James Financial Services, Inc. (CRD# 6694) of Fort Lauderdale, FL. Pastor was also dually registered with Raymond James and Provenance Wealth Advisors during this period. His previous employers include Walnut Street Securities, Inc. (CRD#:15840), also of Fort Lauderdale, and Ameriprise Financial Services, Inc. (CRD#:6363) of Plantation, FL. He has been in the industry since 2006.

After a customer’s complaint of forgery and unauthorized trades to her account and false sales confirmations, both Raymond James Financial and Provenance Wealth Advisors discharged him. The client requested damages in the amount of $38,725.00, and the case was settled for $60,000. Continue reading ›

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James Thomas Booth Of LPL Financial Barred From Securities Industry For Operating Ponzi Scheme

James Thomas Booth (CRD# 1906145), the founder of Booth Financial Associates and a registered representative with LPL Financial LLC in Norwalk, Connecticut has been permanently barred by the both the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) from acting as a broker or investment adviser or otherwise associating with a broker-dealer or provider of securities and/or investment advice. Prior to joining LPL Financial in 2018, Booth was registered with Invest Financial Corporation. Continue reading ›

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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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