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Articles Posted in Stockbroker Misconduct

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On Thursday, November 7, 2019, Scott Silver, managing partner of Silver Law Group, and Jay Berkowitz, CEO and founder of marketing agency Ten Golden Rules, delivered a presentation to members of the South Florida Interactive Marketers Association (SFIMA).On Thursday, November 7, 2019, Scott Silver, managing partner of Silver Law Group, and Jay Berkowitz, CEO and founder of marketing agency Ten Golden Rules, delivered a presentation to members of the South Florida Interactive Marketers Association (SFIMA).

About SFIMA

Founded in 2004, SFIMA is an all-volunteer organization that promotes education, networking, and professional growth opportunities for marketers in southeast Florida. SFIMA holds monthly educational and networking events with an industry speaker. Continue reading ›

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GPB Capital Holdings, the troubled alternative asset management firm that’s being investigated by the FBI, SEC, and others, and is accused of operating like a Ponzi scheme, allegedly has significant ties to the Church of Scientology. Scientology is a system of religious beliefs and practices created by American science fiction writer L. Ron Hubbard in 1952. The religion has had many controversies over the years, including “Operation Snow White” in the 1970s, in which up to 5,000 agents infiltrated US government agencies to remove unfavorable evidence about Scientology and L. Ron Hubbard.GPB Capital Holdings, the troubled alternative asset management firm that’s being investigated by the FBI, SEC, and others, and is accused of operating like a Ponzi scheme, allegedly has significant ties to the Church of Scientology.

Scientology is a system of religious beliefs and practices created by American science fiction writer L. Ron Hubbard in 1952. The religion has had many controversies over the years, including “Operation Snow White” in the 1970s, in which up to 5,000 agents infiltrated US government agencies to remove unfavorable evidence about Scientology and L. Ron Hubbard. Continue reading ›

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Scott Silver, managing partner of Silver Law Group, delivered a presentation on variable annuity fraud at the 28th PIABA annual meeting in Austin, Texas. Variable deferred annuities are a hybrid investment that contains features of a security and insurance. According to FINRA, “Due to the complexity and confusion surrounding them, which can lead to questionable sales practices, variable annuities are a leading source of investor complaints to FINRA.”Scott Silver, managing partner of Silver Law Group, delivered a presentation on variable annuity fraud at the 28th PIABA annual meeting in Austin, Texas.

What Is A Variable Annuity?

Variable deferred annuities are a hybrid investment that contains features of a security and insurance. According to FINRA, “Due to the complexity and confusion surrounding them, which can lead to questionable sales practices, variable annuities are a leading source of investor complaints to FINRA.” Continue reading ›

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Before being permanently barred by FINRA, James Flynn of Greenville, South Carolina, was a broker who caused serious damage to many clients. Flynn’s publicly available FINRA BrokerCheck report shows an astounding 40 disclosures, including bankruptcy, tax liens, employment separations, and customer disputes alleging false and misleading representations and unsuitable investment recommendations.About James Flynn

Before being permanently barred by FINRA, James Flynn of Greenville, South Carolina, was a broker who caused serious damage to many clients. Flynn’s publicly available FINRA BrokerCheck report shows an astounding 40 disclosures, including bankruptcy, tax liens, employment separations, and customer disputes alleging false and misleading representations and unsuitable investment recommendations. Continue reading ›

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Silver Law Group continues to file GPB securities arbitration claims. GPB Capital Holding’s Chief Compliance Officer and Managing Director, former Securities and Exchange Commission (SEC) examiner Michael S. Cohn, was indicted on October 23, 2019, on charges of obstruction of justice, unauthorized computer access, and unauthorized disclosure of confidential information.Silver Law Group continues to file GPB securities arbitration claims.

GPB Capital Holding’s Chief Compliance Officer and Managing Director, former Securities and Exchange Commission (SEC) examiner Michael S. Cohn, was indicted on October 23, 2019, on charges of obstruction of justice, unauthorized computer access, and unauthorized disclosure of confidential information. Continue reading ›

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According to FINRA Disciplinary actions for August 2019, 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
  Sandra Acree   Fidelity Brokerage Services
  Andrew Baker   Suntrust Investment Services
  Wells Fargo Advisors
  William Cannon   Lifemark Securities Corp
  Fortune Financial Services
  Patrick Devaney II   Financial West Group
  Sanford Roberts, Inc
  James D’Meo   Kenneth Jerome & Co
  Equity Services, Inc
  David Drees   American Financial Services
  Clinton Dunbar   Union Capital Company
  IFS Securities
  George Edwards   Edward Jones
  Cetera Investment Services
  Charles Frank   NYLife Securities
  MWA Financial Services
  Jack Lowrey Jr.   Ameriprise Financial Services
  NBC Securities
  Jeffrey Lundstrom   Signator Investors, Inc
  Transamerica Financial Advisors
  Uriah Mitchell   JP Morgan Securities
  Raymond Montchal   Morgan Stanley
  Citigroup Global Markets
  Robert Neuedorf   David Lerner Associates
  Merrill Lynch, Pierce, Fenner & Smith

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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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