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Articles Posted in Stockbroker Misconduct

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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. No current employment information is available. He began in the industry in 1990.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. No current employment information is available. He began in the industry in 1990. Continue reading ›

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Marcus E. Boggs (CRD#: 5055667) is a former registered broker and investment advisor whose last broker dealer employer was Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Chicago, IL, from 2/7/2006 through 12/18/2018. No current or additional employment information is available.Marcus Boggs is the subject of five disclosures. Three customer disputes were filed on 11/21/2018, 12/16/2018 and 12/17/2018, all alleging unauthorized ACH transfers of funds into an American Express account, totaling $5,601,758.71.Marcus E. Boggs (CRD#: 5055667) is a former registered broker and investment advisor whose last broker dealer employer was Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Chicago, IL, from 2/7/2006 through 12/18/2018. No current or additional employment information is available.

Marcus Boggs is the subject of five disclosures. Three customer disputes were filed on 11/21/2018, 12/16/2018 and 12/17/2018, all alleging unauthorized ACH transfers of funds into an American Express account, totaling $5,601,758.71. Continue reading ›

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iStock-494312894-300x200Investors who have gone through FINRA arbitration claims against closed boiler-rooms know that collecting an award can be a problem. Brokers and broker-dealers who have actions filed against them are also required to pay fees, as well as any financial restitution they are ordered to pay.

While most of these arbitration actions result in some form of restitution for the defrauded investor, FINRA reports that about 2% of these cases are never paid. Now FINRA has a single page on its website where you can look up companies and brokers who have left their obligations unpaid. The information is available through BrokerCheck on an individual basis, but this is the first time it has been available collectively. Continue reading ›

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Robert David Child (CRD#: 500359) is a former registered broker and investment advisor whose last employer was National Securities Corporation (CRD#:7569) of Boca Raton, FL. Previous employers include Vfinance Investments, Inc (CRD#:44962 and #25121), also of Boca Raton, and UBS Painewebber Inc. (CRD#:8174) of Weehawken, NJ. He has been in the industry since 1976.Child is the subject of 13 disclosures dating back to 1983. His most recent was filed on 10/31/2016, alleging breach of fiduciary duty and contract, suitability and negligence. The client requested damages of $250,000, and the case settled for $135,000. No additional information is available.Robert David Child (CRD#: 500359) is a former registered broker and investment advisor whose last employer was National Securities Corporation (CRD#:7569) of Boca Raton, FL. Previous employers include Vfinance Investments, Inc (CRD#:44962 and #25121), also of Boca Raton, and UBS Painewebber Inc. (CRD#:8174) of Weehawken, NJ. He has been in the industry since 1976.

Child is the subject of 13 disclosures dating back to 1983. His most recent was filed on 10/31/2016, alleging breach of fiduciary duty and contract, suitability and negligence. The client requested damages of $250,000, and the case settled for $135,000. No additional information is available. Continue reading ›

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Robert Lee Basile (CRD#: 2392772, aka “Bob Basile”) is a former registered broker and investment advisor who was last employed with PARK AVENUE SECURITIES LLC (CRD#:46173) of Corona, CA. His previous employers include Waddell & Reed (CRD#:866) of Riverside, CA, National Planning Corporation (CRD#:29604) of Chino, CA, and Edward Jones (CRD#:250) of St. Louis, MO. He began in the industry in 2009. Basile has only one disclosure, filed on 11/16/2018. In it, he was sanctioned and indefinitely barred by FINRA. Without admitting or denying the findings, Basile consented to the sanctions and signed an Acceptance, Waiver and Consent (AWC) letter. In 2014, Basile’s mother opened a brokerage account at Waddel & Reed shortly after he began employment there, with Basile serving as the broker. Between January 2015 and October 2017, Basile began withdrawing funds without his mother’s knowledge or consent to use for his own living expenses. He improperly converted over $130,000 of his elderly mother’s money.

Robert Lee Basile (CRD#: 2392772, aka “Bob Basile”) is a former registered broker and investment advisor who was last employed with PARK AVENUE SECURITIES LLC (CRD#:46173) of Corona, CA. His previous employers include Waddell & Reed (CRD#:866) of Riverside, CA, National Planning Corporation (CRD#:29604) of Chino, CA, and Edward Jones (CRD#:250) of St. Louis, MO. He began in the industry in 2009.

Basile has only one disclosure, filed on 11/16/2018. In it, he was sanctioned and indefinitely barred by FINRA. Without admitting or denying the findings, Basile consented to the sanctions and signed an Acceptance, Waiver and Consent (AWC) letter. Continue reading ›

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sec-300x198Back in June, we told you about John Greg Schmidt (CRD#: 708094) who was barred by FINRA after a series of allegations of misappropriation of funds. Since then the Securities and Exchange Commission has also investigated Schmidt, and has now filed a civil action.

Schmidt was discharged by his last employer, Wells Fargo Advisors Financial Network, LLC (CRD#:11025), of Dayton, OH, after allegations of “unauthorized money movement between clients,” and inaccurate account statements that were not generated or approved by Wells Fargo. Continue reading ›

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Wilfred Rodriquez, Jr. (CRD#: 2504369, aka “Will” or “Wilfredo”) is a former registered broker and investment advisor whose last employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Boca Raton, FL. His previous employers include Prudential Securities Incorporated (CRD#:7471) of New York, NY, UBS Painewebber Inc. (CRD#:8174) of Weehawken, NJ, and Citicorp Investment Services (CRD#:23988) of Long Island City, NY.Two of Rodriquez’ previous employers were expelled by FINRA: Euro-Atlantic Securities Inc. (CRD#:21367, expelled 09/08/1997) of Boca Raton, and Biltmore Securities, Inc. (CRD#:25023, expelled 03/01/1999) of Fort Lauderdale, FL. No current employment information is available. He has been in the industry since 1994. FINRA barred Rodriquez indefinitely, and in all capacities.Wilfred Rodriquez, Jr. (CRD#: 2504369, aka “Will” or “Wilfredo”) is a former registered broker and investment advisor whose last employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Boca Raton, FL. His previous employers include Prudential Securities Incorporated (CRD#:7471) of New York, NY, UBS Painewebber Inc. (CRD#:8174) of Weehawken, NJ, and Citicorp Investment Services (CRD#:23988) of Long Island City, NY. Continue reading ›

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John-Aaron Lenhert is a former registered broker and investment advisor whose last (and only broker) employer was Morgan Stanley (CRD#:149777) of Laguna Nigel, CA. No current employment information is available. He has been in the industry since 2011.Morgan Stanley terminated Lenhert’s employment on 1/12/2017, after being notified of allegations that he borrowed money from three member firm clients, against FINRA and the firm’s policies.John-Aaron Lenhert is a former registered broker and investment advisor whose last (and only broker) employer was Morgan Stanley (CRD#:149777) of Laguna Nigel, CA. No current employment information is available. He has been in the industry since 2011.

Morgan Stanley terminated Lenhert’s employment on 1/12/2017, after being notified of allegations that he borrowed money from three member firm clients, against FINRA and the firm’s policies. Continue reading ›

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Chris Raymond Kubiak (CRD#: 1527367) is a previously registered broker whose last employer was Calton & Associates, Inc. (CRD#:20999) of Brookfield, WI. His previous employers include American Global Wealth Management, Inc. (CRD#:7388) of McDonough, GA, Freedom Investors Corp. (CRD#:23714) of Brookfield, and Dreher & Associates, Inc. (CRD#:8665) of Oakbrook Terrace, IL.  He has been in the industry since 1986.On 9/25/2018, Kubiak was arrested and charged with “felony theft by fraud” (Theft 943.20(1)(b)). The charges are currently pending, and he has not yet entered a plea.Chris Raymond Kubiak (CRD#: 1527367) is a previously registered broker whose last employer was Calton & Associates, Inc. (CRD#:20999) of Brookfield, WI. His previous employers include American Global Wealth Management, Inc. (CRD#:7388) of McDonough, GA, Freedom Investors Corp. (CRD#:23714) of Brookfield, and Dreher & Associates, Inc. (CRD#:8665) of Oakbrook Terrace, IL.  He has been in the industry since 1986.

On 9/25/2018, Kubiak was arrested and charged with “felony theft by fraud” (Theft 943.20(1)(b)). The charges are currently pending, and he has not yet entered a plea. Continue reading ›

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Brandon Curt Stimpson (CRED#: 4299623) is a currently registered investment advisor and former registered broker. His last employer of record is Allegis Investment Services, LLC (CRD#:168557) of North Logan, UT. Previous employers include Signator Financial Services, Inc. (CRD#:19061), also of North Logan, Insphere Securities, Inc. (CRD#:136433) of Salt Lake City, UT, and Equity Services of Logan, UT. Current employment information is not listed. He has been in the business since 2000.Stimpson is the subject of nine disclosures, the latest a “separation employment after allegations.” Allegis Investment Advisors discharged Stimpson on 12/13/2017 after he “failed to follow firm policies and code of ethics.” Additional details are not available.Brandon Curt Stimpson (CRED#: 4299623) is a currently registered investment advisor and former registered broker. His last employer of record is Allegis Investment Services, LLC (CRD#:168557) of North Logan, UT. Previous employers include Signator Financial Services, Inc. (CRD#:19061), also of North Logan, Insphere Securities, Inc. (CRD#:136433) of Salt Lake City, UT, and Equity Services of Logan, UT. Current employment information is not listed. He has been in the business since 2000.

Stimpson is the subject of nine disclosures, the latest a “separation employment after allegations.” Allegis Investment Advisors discharged Stimpson on 12/13/2017 after he “failed to follow firm policies and code of ethics.” Additional details are not available. Continue reading ›

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