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Articles Posted in Stockbroker Misconduct

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According to FINRA Disciplinary actions for August 2019, 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
  Carolyn Andrews   UBS Financial Services
  Morgan Keegan & Company
  Meiewyn Avent   Alliance-One Investments
  Metlife Investors Distribution Co
  Robert Corley   Fidelity Brokerage Services
  Redstone Securities
  Jennifer Margaret
  Francisco Garcia   Park Avenue Securities
  EQ Financial Consultants
  Sparkle Griffen   UBS Financial Services
  Merrill Lynch, Pierce, Fenner & Smith
  Robert High II   First National Equity  Corp
  Chase Investment Services
  Richard LaBare   Union Capital Company
  Morgan Stanley & Co Inc
  Arnold Mariampolski   AXA Advisors
  Robert Powers   Emerging Growth Equities
  Roth Capital Partners
  Brandon Yasso   JP Morgan Securities

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Two investors in GPB Capital Holdings have filed a class action lawsuit against the troubled company. The complaint, filed in Manhattan federal court, alleges that GPB breached its fiduciary by failing to give investors its annual audited financial statements. This lawsuit is just the latest problem for GPB, which was recently sued by one of its partners, who accused the company of operating like a Ponzi scheme. The company is also the subject of investigations by the FBI, SEC, FINRA, and New York’s Business Integrity Commission.Two investors in GPB Capital Holdings have filed a class action lawsuit against the troubled company.

The complaint, filed in Manhattan federal court, alleges that GPB breached its fiduciary by failing to give investors its annual audited financial statements.

This lawsuit is just the latest problem for GPB, which was recently sued by one of its partners, who accused the company of operating like a Ponzi scheme. The company is also the subject of investigations by the FBI, SEC, FINRA, and New York’s Business Integrity Commission. Continue reading ›

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Silver Law Group continues to file FINRA arbitration claims on behalf of clients against Voya Financial Advisors regarding its former employee James Flynn (CRD# 3082615) of Greenville, South Carolina. The claims requests compensatory damages for our clients and allege that Voya failed to supervise Flynn’s conduct while he was working for them.Silver Law Group continues to file FINRA arbitration claims on behalf of clients against Voya Financial Advisors regarding its former employee James Flynn (CRD# 3082615) of Greenville, South Carolina.

The claims requests compensatory damages for our clients and allege that Voya failed to supervise Flynn’s conduct while he was working for them. Continue reading ›

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Gabriel Block (CRD#: 2103543, aka Gabe Block) is a former registered broker and investment advisor whose last employer was First Standard Financial Company LLC (CRD#:168340) of Red Bank, NJ. His previous employers include National Securities Corporation (CRD#:7569) and Oppenheimer & Co. Inc. (CRD#:249), both of Red Bank, as well as others in Purchase, NY, St. Louis, MO, Charlotte, NC, Boca Raton, FL, and New York, NY. Block began in the industry in 1990. In February, 2019 FINRA barred him from acting as a broker after he failed to respond to a request for information. His publicly-available FINRA BrokerCheck report lists 17 disclosures from 1999 to 2019. 12 of the disclosures are customer disputes, and 5 are regulatory events.Gabriel Block (CRD#: 2103543, aka Gabe Block) is a former registered broker and investment advisor whose last employer was First Standard Financial Company LLC (CRD#:168340) of Red Bank, NJ. His previous employers include National Securities Corporation (CRD#:7569) and Oppenheimer & Co. Inc. (CRD#:249), both of Red Bank, as well as others in Purchase, NY, St. Louis, MO, Charlotte, NC, Boca Raton, FL, and New York, NY. Continue reading ›

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The SEC (Securities and Exchange Commission) has filed a lawsuit against barred advisor Marcus Boggs, who formerly worked for Merrill Lynch, Pierce, Fenner & Smith, for allegedly stealing over $1.7 million from his clients. According to the SEC’s civil complaint, Boggs is accused of transferring money from three of his client’s accounts to his personal credit card account more than 200 times to pay for huge credit card purchases.The SEC (Securities and Exchange Commission) has filed a lawsuit against barred advisor Marcus Boggs, who formerly worked for Merrill Lynch, Pierce, Fenner & Smith, for allegedly stealing over $1.7 million from his clients.

According to the SEC’s civil complaint, Boggs is accused of transferring money from three of his client’s accounts to his personal credit card account more than 200 times to pay for huge credit card purchases. Continue reading ›

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Silver Law Group has filed a FINRA arbitration claim to help a client recover more than $200,000 that was lent to his broker and never repaid. Our client is a senior citizen living in Florida who was seeking to secure his nest egg for the future by investing for long-term growth with moderate risk. A close personal friend referred our client to his broker, who at the time was a financial advisor at a leading investment firm.Silver Law Group has filed a FINRA arbitration claim to help a client recover more than $200,000 that was lent to his broker and never repaid.

Our client is a senior citizen living in Florida who was seeking to secure his nest egg for the future by investing for long-term growth with moderate risk. A close personal friend referred our client to his broker, who at the time was a financial advisor at a leading investment firm. Continue reading ›

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GPB Capital investors are suffering catastrophic losses on their investments. GPB has reduced the valuations of their portfolio and investor complaints against selling brokers continue to pile up.GPB Capital investors are suffering catastrophic losses on their investments. GPB has reduced the valuations of their portfolio and investor complaints against selling brokers continue to pile up.

GPB Capital includes the following funds:

  • GPB Cold Storage
  • GPB Automotive Fund
  • GPB Automotive Income
  • GPB Holdings II and III
  • GPB Waste Management
  • GPB NY Development

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GPB Capital Holdings is being sued by one of its business partners, David Rosenberg, for allegations of financial misconduct. According to the lawsuit, Rosenberg is the chief executive of Prime Automotive Group. In 2017, he sold a majority stake in the company to GPB for $235 million. Rosenberg’s lawsuit accuses GPB of running like a Ponzi scheme by using investor’s money to pay other investors. He also alleges that GPB tried to force him out after he complained about their behavior to the SEC.GPB Capital Holdings is being sued by one of its business partners, David Rosenberg, for allegations of financial misconduct. According to the lawsuit, Rosenberg is the chief executive of Prime Automotive Group. In 2017, he sold a majority stake in the company to GPB for $235 million. Rosenberg’s lawsuit accuses GPB of running like a Ponzi scheme by using investor’s money to pay other investors. He also alleges that GPB tried to force him out after he complained about their behavior to the SEC. Continue reading ›

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Robert Charles High II (CRD: #4568165) is a former registered broker and investment advisor whose last employer was First Financial Equity Corporation (CRD#:16507) of Scottsdale, AZ. His previous employers include Chase Investment Services Corp. (CRD#:25574) and Banc One Securities Corporation (CRD#:16999.) He has been in the industry since 2002.The FBI opened an investigation on 2/14/2019 into Robert High over allegations of potential forgery and misappropriation of funds. On 2/20/2019, First Financial Equity Corporation discharged High for “violations of firm policies.” Robert Charles High II (CRD: #4568165) is a former registered broker and investment advisor whose last employer was First Financial Equity Corporation (CRD#:16507) of Scottsdale, AZ. His previous employers include Chase Investment Services Corp. (CRD#:25574) and Banc One Securities Corporation (CRD#:16999.) He has been in the industry since 2002.

The FBI opened an investigation on 2/14/2019 into Robert High over allegations of potential forgery and misappropriation of funds. On 2/20/2019, First Financial Equity Corporation discharged High for “violations of firm policies.” Continue reading ›

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James Bradley Schwartz (CRD# 3043085) is a former registered broker whose last employer was Joseph Gunnar & Co. LLC (CRD#:24795) of New York, NY. Previous employers include First Standard Financial Company LLC (CRD#:168340) of Garden City, NY, and Aegis Capital Corp. (CRD#:15007) of Melville, NY.  He has been in the industry since 1998.During his tenure with Aegis (2013 through 2016), Schwartz was the subject of six customer disputes, all of which were settled by the firm. The allegations against Schwartz were similar: unauthorized and excessive trading, unsuitable recommendations, breach of fiduciary duty, negligence, misrepresentation, and others. The damages requested for these six disputes totaled $6,861,954.47, and the damages awarded totaled $2,730,286.36.James Schwartz (CRD# 3043085) is a former registered broker whose last employer was Joseph Gunnar & Co. LLC (CRD#:24795) of New York, NY. Previous employers include First Standard Financial Company LLC (CRD#:168340) of Garden City, NY, and Aegis Capital Corp. (CRD#:15007) of Melville, NY.  He has been in the industry since 1998. Continue reading ›

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