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Articles Posted in Stockbroker Misconduct

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Sean Mostero (Sean Francis Mostero CRD# 6447158) is a former registered broker and investment advisor most recently employed with LPL Financial LLC (CRD# 6413) of Torrance, CA. His previous employers were Cetera Advisors LLC (CRD# 10299) and First Allied Securities, Inc. (CRD# 32444), also of Torrence. He has been in the industry since 2017. Mostero has four disclosures in his CRD. The first was on 2/29/2024, where he was terminated by Alessandra Capital Management, LLC (CRD# 123305), also of Torrance. The company stated that Mostero “abandoned” his job at Alessandra and refused to cooperate with the firm’s requests for information regarding a complaint about his professional conduct.Sean Mostero (Sean Francis Mostero CRD# 6447158) is a former registered broker and investment advisor most recently employed with LPL Financial LLC (CRD# 6413) of Torrance, CA. His previous employers were Cetera Advisors LLC (CRD# 10299) and First Allied Securities, Inc. (CRD# 32444), also of Torrence. He has been in the industry since 2017. Continue reading ›

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Imdadur Rahman (CRD# 2476187, a/k/a Gino Rahman) is a former registered broker and investment advisor last employed with L.M. Kohn & Company (CRD# 27913) of Troy, MI. His previous employers were Merrill Lynch, Pierce, Fenner & Smith, Incorporated (CRD# 7691) of Bloomfield Hills, MI, UBS Financial Services Inc. (CRD#:8174) of Weehawken, NJ, Dean Witter Reynolds Inc. (CRD# 7556) of Purchase, NY, and Montano Securities Corporation (CRD# 7887) of Orange, CA. He has been in the industry since 1994. M. Kohn discharged Rahman on 10/9/2023 after the discovery that he was engaged in outside business activities (OBA) with a 78-year-old client during his previous employment at Merrill, Lynch.Imdadur Rahman (CRD# 2476187, a/k/a Gino Rahman) is a former registered broker and investment advisor last employed with L.M. Kohn & Company (CRD# 27913) of Troy, MI. His previous employers were Merrill Lynch, Pierce, Fenner & Smith, Incorporated (CRD# 7691) of Bloomfield Hills, MI, UBS Financial Services Inc. (CRD#:8174) of Weehawken, NJ, Dean Witter Reynolds Inc. (CRD# 7556) of Purchase, NY, and Montano Securities Corporation (CRD# 7887) of Orange, CA. He has been in the industry since 1994. Continue reading ›

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At the Public Investors Advocate Bar Association (PIABA) annual meeting in San Diego, California in September, 2024 Scott Silver was awarded the Outstanding Service Award, which according to PIABA is “given annually to a PIABA member (or members) demonstrating outstanding service and making significant contributions to PIABA while advancing the mission of PIABA.” Scott Silver, managing partner of Silver Law Group, has been a member of PIABA since 2002 and has presented at PIABA meetings many times on subjects including stockbroker misconduct and variable annuity fraud. At the 2024 annual meeting Scott was also elected to join PIABA’s board of directors for 2024-2025. Scott Silver has spent his entire legal career working in the securities industry and is a passionate investor advocate. Scott and Silver Law Group represent investors in securities arbitration and plaintiff litigation in claims against brokerage firms, investment advisors, and others. Scott also represents investors in class action lawsuits against banks, auditors, and attorneys who aid and abet Ponzi schemes.At the Public Investors Advocate Bar Association (PIABA) annual meeting in San Diego, California in September, 2024 Scott Silver was awarded the Outstanding Service Award, which according to PIABA is “given annually to a PIABA member (or members) demonstrating outstanding service and making significant contributions to PIABA while advancing the mission of PIABA.”

Scott Silver, managing partner of Silver Law Group, has been a member of PIABA since 2002 and has presented at PIABA meetings many times on subjects including stockbroker misconduct and variable annuity fraud. At the 2024 annual meeting Scott was also elected to join PIABA’s board of directors for 2024-2025. Continue reading ›

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Jeffrey Higgins (Jeffrey Thomas Higgins CRD# 2871443) is a former broker and investment advisor last registered with Western International Securities, Inc. (CRD# 39262) of Baker City, OR. He was previously registered with Financial West Group (CRD# 16668, expelled by FINRA on 2/13/2020), also of Baker City. He has been in the industry since 1997. Western International Securities discharged Higgins on 6/21/2024 following his disclosure to his firm that he had been misappropriating client funds for personal use. He began this practice in 2007 during his tenure with is former employer, Financial West Group. Once terminated, Western International filed a Uniform Termination Notice for Securities Industry Registration (Form U5) with FINRA to notify them of his discharge. FINRA’s National Cause and Financial Crimes Detection Programs were also notified and began its investigation. FINRA sent letters to Higgins on 6/24/2024 requesting both related documents and information and a request to appear for on-the-record testimony, which he failed to do.Jeffrey Higgins (Jeffrey Thomas Higgins CRD# 2871443) is a former broker and investment advisor last registered with Western International Securities, Inc. (CRD# 39262) of Baker City, OR. He was previously registered with Financial West Group (CRD# 16668, expelled by FINRA on 2/13/2020), also of Baker City. He has been in the industry since 1997. Continue reading ›

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James Roy Paige (CRD# 1726609) is a broker and investment advisor currently registered with Wells Fargo Clearing Services, LLC (CRD# 19616) of Vero Beach, FL. Previously, he was registered with Morgan Stanley, (CRD# 8209 and CRD# 7556) also of Vero Beach, and Blinder, Robinson & Co., Inc. (CRD# 5096, no location given.) He has been in the industry since 1987. In a dispute filed on 2/6/2024, a customer alleged that Paige made recommendations to them that were “unsuitable and too risky for Claimants' investment knowledge and needs.”  No requested damages are listed.James Roy Paige (CRD# 1726609) is a broker and investment advisor currently registered with Wells Fargo Clearing Services, LLC (CRD# 19616) of Vero Beach, FL. Previously, he was registered with Morgan Stanley, (CRD# 8209 and CRD# 7556) also of Vero Beach, and Blinder, Robinson & Co., Inc. (CRD# 5096, no location given.) He has been in the industry since 1987. Continue reading ›

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Timothy Jefferson (CRD# 5004750, aka Tim Jefferson, Timothy Fleming Jefferson) is a previously registered broker and investment advisor last employed with Aegis Capital Corp. (CRD# 15007) of Brentwood, TN. His previous employers include Ameriprise Financial Services, LLC (CRD# 6363) and Metlife Securities Inc. (CRD# 14251), of Franklin, TN, and Metropolitan Life Insurance Company (CRD# 4095) of Fayetteville, TN. He has been in the industry since 2005. Ameriprise discharged Jefferson on 10/16/2023 for “impermissible use of account login credentials for one client, his spouse.” On 5/16/2024, his spouse filed a customer dispute alleging that her husband, also her advisor, had accessed her account and misappropriated funds from her accounts. This claim is currently pending.Timothy Jefferson (CRD# 5004750, aka Tim Jefferson, Timothy Fleming Jefferson) is a previously registered broker and investment advisor last employed with Aegis Capital Corp. (CRD# 15007) of Brentwood, TN. His previous employers include Ameriprise Financial Services, LLC (CRD# 6363) and Metlife Securities Inc. (CRD# 14251), of Franklin, TN, and Metropolitan Life Insurance Company (CRD# 4095) of Fayetteville, TN. He has been in the industry since 2005. Continue reading ›

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According to FINRA Disciplinary actions for October, 2024, the following individuals were suspended from FINRA for failing to comply with a FINRA arbitration award or settlement agreement pursuant to FINRA rules:

NAME FORMER EMPLOYERS
Jason Bostian Wells Fargo Clearing Services, LLC
Morgan Stanley
Helen Caldwell Wells Fargo Clearing Services, LLC
Citigroup Global Markets Inc.
Henry Chang Laidlaw &Company
Morgan Stanley
Brian Chicas NYLife Securities LLC
Larry Law Great Point Capital, LLC
JRL Capital Corporation
Gaetano Magarelli Center Street Advisors, Inc.
Newbridge Securities Corporation
Ryan Stoner Fifth Third Securities, Inc.
Wells Fargo Clearing Services, LLC
Joseph Todaro Network 1 Financial Securities Inc.
SW Financial

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According to FINRA Disciplinary actions for October 2024, 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. However, these individuals remain bound by the securities arbitration agreement to arbitrate any disputes between themselves and their former customers:

NAME FORMER EMPLOYERS
Iam Aguilar Fidelity Brokerage Services LLC
Luke Brooks U.S. Bancorp Investments, Inc.
Glenn Colangelo American Independent Securities Group, LLC
The O.N. Equity Sales Company
Luis Jean-Bart PFS Investments Inc.
Matthew Kagan Merrill Lynch, Pierce, Fenner & Smith Incorporated
Northwestern Mutual Investment Services, LLC
Joseph Seidler RBC Capital Markets, LLC
Wells Fargo Clearing Services, LLC

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According to FINRA Disciplinary actions for October 2024, 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
Fanar Almosleh U.S. Bancorp Investments, Inc.
Sebastian Bongiovanni Spartan Capital Securities, LLC
Newbridge Securities Corporation
Nicholas Camp Merrill Lynch, Pierce, Fenner & Smith Incorporated
Jessica Cottee Valic Financial Advisors, Inc.
Park Avenue Securities LLC
Samuel Girgiss Spartan Capital Securities, LLC
Worden Capital Management LLC
Johnathan Grasser Farmers Financial Solutions, LLC
Vanessa Hendrickson NYLife Securities LLC
Zayed Regalado NYLife Securities LLC
Jeffery Sanders Woodmen Financial Services, Inc.

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