A National Securities Arbitration & Investment Fraud Law Firm

Articles Posted in Stockbroker Misconduct

|

Silver Law Group continues to file claims for investors who purchased GPB Capital. FINRA arbitration claims are being filed in an effort to recover the money investors lost alleging broker dealers were negligent. In many cases, investors are arguing that the brokerage firms who sold GPB to them failed to do adequate due diligence and/or overconcentrated their accounts in GPB. Silver Law Group has filed arbitration claims on behalf of clients who invested in GPB, including the first against Advisor Group broker-dealer SagePoint Financial, which requests $400,000 in damages.Silver Law Group continues to file claims for investors who purchased GPB Capital. FINRA arbitration claims are being filed in an effort to recover the money investors lost alleging broker dealers were negligent.

In many cases, investors are arguing that the brokerage firms who sold GPB to them failed to do adequate due diligence and/or overconcentrated their accounts in GPB. Continue reading ›

|

Barry Garapedian (CRD #1039251) is a currently-registered broker employed by Morgan Stanley (CRD #149777) of Westlake Village, CA. He has been with Morgan Stanley since 2009. He was previously employed by Citigroup Global Markets (CRD #7059), Lehman Brothers (CRD #7506), and E. F. Hutton & Company (CRD #235) He has been in the industry since 1982. Garapedian’s FINRA BrokerCheck report lists 14 disclosures starting in 1992, all customer disputes. He was the subject of three FINRA customer disputes in 2018, all with similar allegations of “unsuitability”. The first, in March 2018 was denied. The second was also filed in March 2018 and involves the period 2013 to 2015, and is listed as “pending.” The third claim, filed on 4/01/18, alleged excessive fees and overconcentration and was settled for $110,000. Garapedian’s statement denies the allegations, and maintains that everything was discussed with the customer prior to any transactions, and the investments recommended were suitable for the client.Barry Garapedian (CRD #1039251) is a currently-registered broker employed by Morgan Stanley (CRD #149777) of Westlake Village, CA. He has been with Morgan Stanley since 2009. He was previously employed by Citigroup Global Markets (CRD #7059), Lehman Brothers (CRD #7506), and E. F. Hutton & Company (CRD #235) He has been in the industry since 1982. Continue reading ›

|

For years, financial advisers have walked a fine line when receiving financial inheritances from their clients. Unfortunately, the line between an adviser’s professional obligations and their personal interests is very easily blurred­­—a reality that leads to complicated fraud and ethics violations.In this blog post, we’ll look into the legal issues associated with financial inheritances from clients by financial advisers, potential solutions to the problem, and how a group of bipartisan lawmakers are taking action and calling to the Financial Industry Regulatory Authority (FINRA) for reform.For years, financial advisers have walked a fine line when receiving financial inheritances from their clients. Unfortunately, the line between an adviser’s professional obligations and their personal interests is very easily blurred­­—a reality that leads to complicated fraud and ethics violations.

In this blog post, we’ll look into the legal issues associated with financial inheritances from clients by financial advisers, potential solutions to the problem, and how a group of bipartisan lawmakers are taking action and calling to the Financial Industry Regulatory Authority (FINRA) for reform. Continue reading ›

|

Edward Earl Matthes (CRD#: 2788055) is a former registered broker and investment advisor whose last employer was Mutual Of Omaha Investor Services, Inc. (CRD#:611) of Oconomowoc, WI. His previous employers include Thrivent Investment Management Inc. (CRD#:18387), also of Oconomowoc and Minneapolis, and MML Investors Services, INC. (CRD#:10409), of Chesterfield, MO. No current employment information is available. He has been in the business since 1996.Mutual of Omaha discharged Matthes on 3/12/2019, after allegations surfaced that he “created fictitious account statements and diverting customer funds for his own personal use.”  On 3/15/2019, The FBI began an investigation into the allegations of Matthes’ misappropriation of client funds. No additional information is yet available from the FBI.Edward Earl Matthes (CRD#: 2788055) is a former registered broker and investment advisor whose last employer was Mutual Of Omaha Investor Services, Inc. (CRD#:611) of Oconomowoc, WI. His previous employers include Thrivent Investment Management Inc. (CRD#:18387), also of Oconomowoc and Minneapolis, and MML Investors Services, INC. (CRD#:10409), of Chesterfield, MO. No current employment information is available. He has been in the business since 1996. Continue reading ›

|

Silver Law Group has filed a FINRA arbitration claim on behalf of clients against Centaurus Financial, Inc. (CRD# 30833) and J.P. Turner & Company, LLC (CRD# 43177) regarding the acts of its employees Cindy Chiellini (CRD# 1015592) and Ricky Mantei (CRD# 1098981).The claim is brought on behalf of a family-run business’s profit sharing plan (PSP), and seeks monetary damages.Silver Law Group has filed a FINRA arbitration claim on behalf of clients against Centaurus Financial, Inc. (CRD# 30833) and J.P. Turner & Company, LLC (CRD# 43177) regarding the acts of its employees Cindy Chiellini (CRD# 1015592) and Ricky Mantei (CRD# 1098981).

The claim is brought on behalf of a family-run business’s profit sharing plan (PSP), and seeks monetary damages.

Continue reading ›

|

Silver Law Group filed another FINRA arbitration claim on behalf of clients against Voya Financial Advisors regarding its former employee James Flynn (CRD# 3082615) of Greenville, South Carolina.The claim requests compensatory damages for our clients, and alleges that Voya failed to supervise Flynn’s conduct while he was working for them relating to the sale of Phillip Edison REIT, Business Development Corp of America (BDC), and other investments.Silver Law Group filed another FINRA arbitration claim on behalf of clients against Voya Financial Advisors regarding its former employee James Flynn (CRD# 3082615) of Greenville, South Carolina.

The claim requests compensatory damages for our clients, and alleges that Voya failed to supervise Flynn’s conduct while he was working for them relating to the sale of Phillip Edison REIT, Business Development Corp of America (BDC), and other investments. Continue reading ›

|

The news keeps getting worse for GPB Capital. The troubled company reported Friday that the value of its two biggest investment funds, GPB Holdings II and GPB Automotive Portfolio, have declined by 25% and 39%, respectively.The other five GPB funds also have significant declines in value, according to the company.The news keeps getting worse for GPB Capital. The troubled company reported Friday that the value of its two biggest investment funds, GPB Holdings II and GPB Automotive Portfolio, have declined by 25% and 39%, respectively.

The other five GPB funds also have significant declines in value, according to the company. Continue reading ›

|

Herbert Hafen (CRD#: 867068, aka Elias Herbert Hafen, E Herbert Niggebrugge, Elias Niggebrugge) is a former registered broker and investment advisor whose last employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of New York, NY. Hafen’s previous employers include Morgan Stanley (CRD#:149777 and CRD#: 8209), and Bear Sterns (CRD#: 79), also of New York City. He has been in the industry since 1979. Hafen was discharged by Wells Fargo on 8/21/2018, after “entering into financial arrangements with clients that were not approved by the firm.”Herbert Hafen (CRD#: 867068, aka Elias Herbert Hafen, E Herbert Niggebrugge, Elias Niggebrugge) is a former registered broker and investment advisor whose last employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of New York, NY. Hafen’s previous employers include Morgan Stanley (CRD#:149777 and CRD#: 8209), and Bear Sterns (CRD#: 79), also of New York City. He has been in the industry since 1979.

Hafen was discharged by Wells Fargo on 8/21/2018, after “entering into financial arrangements with clients that were not approved by the firm.” Continue reading ›

|

Adam Michael Lopez (CRD#: 5562750) is a former registered broker who was last employed with Country Capital Management Company (CRD#:12060) of Springfield, IL, from 09/16/2008 through 09/21/2018. No current employment information is available. He has been in the industry since 2018.Country Capital terminated Lopez on 9/21/2016 for violations of provisions in his insurance services contract. His actions were not related to securities, and his U5 termination form was later updated to include an investigation by a “domestic or foreign governmental body or self-regulatory organization with jurisdiction over investment-related business.”Adam Michael Lopez (CRD#: 5562750) is a former registered broker who was last employed with Country Capital Management Company (CRD#:12060) of Springfield, IL, from 09/16/2008 through 09/21/2018. No current employment information is available. He has been in the industry since 2018.

Country Capital terminated Lopez on 9/21/2016 for violations of provisions in his insurance services contract. His actions were not related to securities, and his U5 termination form was later updated to include an investigation by a “domestic or foreign governmental body or self-regulatory organization with jurisdiction over investment-related business.” Continue reading ›

|

Dudley Stevens (CRD#: 4119268, aka “Stephen Franklin Dudley”) is a previously registered broker and investment advisor whose last known employer was Coastal Equities, Inc. (CRD#:23769) of New York, NY. Previous employers include Prospera Financial Services, Inc. (CRD#:10740), Wells Fargo Advisors, LLC (CRD#:19616), and HSBC Securities (USA) INC. (CRD#:19585), also of New York City.  In addition to New York, he has also worked in Birmingham, AL, Dallas, TX, Boca Raton, FL, and Carle Place, NJ. He has been in the industry since 2000.Coastal Equities terminated Stevens’ employment on 7/20/2018 after he was “reviewed for suspicious letters of authorization concerning third party wires.”  No additional information is available, and Coastal Equities was his most recent broker registration.Dudley Stevens (CRD#: 4119268,aka “Stephen Franklin Dudley”) is a previously registered broker and investment advisor whose last known employer was Coastal Equities, Inc. (CRD#:23769) of New York, NY. Previous employers include Prospera Financial Services, Inc. (CRD#:10740), Wells Fargo Advisors, LLC (CRD#:19616), and HSBC Securities (USA) INC. (CRD#:19585), also of New York City.  In addition to New York, he has also worked in Birmingham, AL, Dallas, TX, Boca Raton, FL, and Carle Place, NJ. He has been in the industry since 2000. Continue reading ›

Contact Information
Main Office
11780 W Sample Rd
Coral Springs, FL 33065
Phone: (954) 755-4799Fax: (954) 755-4684
New York Office
229 W 36th St 8th Floor
New York, NY 10018
Phone: (212) 377-5227
Florida Office
4755 Technology Way #205
Boca Raton, FL 33431
Phone: (561) 665-8613
ATTORNEY ADVERTISING

Visit our Florida Securities Whistleblower Website

We serve clients nationwide including, but not limited to, those in the following localities: Atlanta, Baltimore, Boston, Chicago, Dallas–Fort Worth, Denver, Detroit, Houston, Los Angeles, Miami, New York City, Philadelphia, Phoenix, San Bernardino-Riverside, San Diego, San Francisco, Seattle, St. Louis, Tampa–St. Petersburg, and Washington, D.C. View More

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. The contact form sends information by non-encrypted email, which is not secure. Submitting a contact form, sending a text message, making a phone call, or leaving a voicemail does not create an attorney-client relationship.

Copyright © 2025, Silver Law Group
JUSTIA Law Firm Blog Design