Stockbroker Misconduct

Silver Law Group is Investigating Truitt Ficklin of Cetera Investment Services LLC

May 30, 2018 | Silver Law Group

Truitt Ficklin, a former financial advisor with Cetera Investment Services, LLC, is barred from association with any FINRA member in any capacity. Respondent failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is automatically barred from association with any FINRA member in any capacity.

Contact Our Firm if You’ve Invested with Truitt Ficklin of Cetera Investment Services, LLC

If you invested with Truitt Ficklin and believe you have lost money due to his misconduct, you may be able to file a claim to recover your losses through FINRA arbitration. For a free evaluation of your potential case by as securities attorney, please contact Silver Law Group.

Silver Law Group is Investigating Phillip Johnson of SunTrust Investment Services, Inc.

May 30, 2018 | Silver Law Group

Phillip Johnson was assessed by FINRA a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for three months. Without admitting or denying the findings, Johnson, a previous advisor with SunTrust Investment Services and DH Hill Securities, consented to the sanctions and to the entry of findings that he borrowed $528,000 from a customer, but failed to notify or obtain written approval of the loan in advance from his member firm. The findings stated that Johnson made an inaccurate statement on firm compliance questionnaires related to borrowing from a firm customer. The brokerage firm did not permit loans between registered persons and customers who were not close family members. Johnson and the customer are not family members.

Contact Our Firm if You’ve Invested with Phillip Johnson or your Financial Advisor Improperly Borrowed Money

If you invested with Phillip Johnson and believe you have lost money due to his misconduct, you may be able to file a claim to recover your losses through FINRA arbitration. For a free evaluation of your potential case by as securities attorney, please contact Silver Law Group. Stockbrokers are in a unique position of trust and are rarely allowed to borrow money from clients.

FINRA Bars Broker Kenneth Stewart Tyrell For Failure To Disclose Outside Business Dealings

May 25, 2018 | Silver Law Group

On 12/8/2017, FINRA permanently barred former registered broker Kenneth Stewart Tyrell (CRD #2457452) from acting as a broker or having any affiliation with a broker-dealer firm. Tyrell was both a previously registered broker and a previously registered investment advisor. His last employer was Cary Street Partners, (CRD #128089) of Richmond, VA, from 08/25/2016 until 10/06/2017 (officially.) He is not currently registered with any financial service-related firm.

Tyrell’s previous employment history includes:

UBS Financial Services (CRD #8174) of Vienna, VA, from 11/14/2008 to 09/07/2016. Tyrell was discharged from this firm; see below for details.

FINRA Suspends Ryan Michael Murnane

May 25, 2018 | Silver Law Group

Broker Ryan Michael Murnane (CRD #4784140) has been suspended by FINRA for failure to provide requested information. The suspension was enacted on 02/12/2018. Since no action has been taken in the three-month period, the suspension has become a bar as of April 20, 2018. Murnane’s last employer of record was Alexander Capital LP (CRD #40077) of New York, NY, from 01/12/2017 through 04/03/2017. He is not currently registered with any broker-related firm.

Murnane’s previous employment history includes:

Woodstock Financial Group (CRD #38095), of Staten Island, NY, from 07/15/2015 through 02/07/2017. Murnane was discharged from this position; see details below.

FINRA Bars Broker Charles Henry Frieda After Multiple Allegations of Unsuitable Investments

May 25, 2018 | Silver Law Group

Former Broker Charles Henry Frieda (CRD #5502319) has been barred after FINRA investigated more than 50 client allegations of improper investments. Frieda’s last employer of record was Wells Fargo Clearing Services (aka Wells Fargo Advisors, CRD #19616) of Irvine, CA, where he was employed from 10/05/2012 through 09/20/2017. Although he was previously registered as a broker and as an investment advisor, he is not currently registered with any broker, and no information is available on any current employer.

His previous employment record includes:

Morgan Stanley (CRD #19616) of Brea, CA, from 06/01/2009 through 10/24/2012

FINRA Bars Broker Charles Bernard Lynch, Jr. After 50+ Customer Disputes

May 25, 2018 | Silver Law Group

Former broker and investment advisor Charles Bernard Lynch, Jr. (CRD #3004877) has been barred by FINRA after 57 customer disputes have been filed against him. His last employer of record was Wells Fargo Clearing Services (aka Wells Fargo Advisors, CRD #19616), where he was employed from 10/05/2012 through 05/02/2016. He was a general securities representative, and was discharged from the firm on April 12, 2016. Since his termination, he has not been associated with any other financial services firm.

Lynch’s previous employment record includes:

Morgan Stanley (CRD #149777) of Brea, CA, from 06/01/2009 through 10/24/2012

Silver Law Group is Investigating Joseph Alan Lavigne of Spencer Edwards, Inc.

May 17, 2018 | Silver Law Group

Silver Law Group is currently investigating Centennial, Colorado based broker Joseph Alan Lavigne regarding complaints pertaining to failure to provide due diligence to investor clients and misrepresentation.

Based on FINRA’s BrokerCheck report on Lavigne, a complaint was filed on December 4, 2017 alleging that Lavigne provided misleading information to investor clients during his employment at Spencer Edwards, Inc. The total in damages was $47,034.75.

Lavigne was previously employed at Bathgate Capital Partners LLC from 2002 to 2013. He has been employed at Spencer Edwards, Inc. from 2013 to the present.

Silver Law Group is Investigating John Greg Schmidt of Stifel Nicolaus & Company, Inc. and Wells Fargo Advisors Financial Network LLC

May 17, 2018 | Silver Law Group

New-York-Broker-Gregory-Flemming-Suspended-by-FINRA-300x200 Silver Law Group is currently investigating Dayton, Ohio based broker John Greg Schmidt regarding complaints pertaining to theft of client funds and elder financial abuse.

Based on FINRA’s BrokerCheck report on Schmidt, a complaint was filed on October 9, 2007 alleging that Schmidt caused an investor client upwards of $500,000 worth of damages due to failing to provide due diligence and theft during his employment at Stifel Nicolaus & Company, Inc. and Wells Fargo Advisors Financial Network LLC. The claim was settled for damages of $80,000 in which Schmidt was required to pay $32,500, Wells Fargo was required to pay $32,500, and Stifel, Nicolaus & Company, Inc. was required to pay $15,000. Additionally, a second claim was filed on 12/04/2017 that is still pending regarding an allegation of theft of client funds. As a result of the second claim, Schmidt was given a permanent suspension from the securities industry.

Schmidt was previously employed at Stifel, Nicolaus & Company, Inc. from 2002 to 2006 and Wachovia Securities Financial Network LLC. from 2006 to 2009 until they merged with Wells Fargo. He was employed at Wells Fargo Advisors Financial Network LLC from 2009 to 2017. According to BrokerCheck, several recently filed arbitration claims allege Schmidt misappropriated or absconded with customer money.

Silver Law Group is Investigating Sonya D. Camarco of LPL Financial LLC

May 15, 2018 | Silver Law Group

Silver Law Group is currently investigating Colorado Springs, CO based broker Sonya D. Camarco regarding complaints pertaining to failure to provide due diligence to investor clients, misappropriation of client funds, and misrepresentation.

Bahram-Mirhashemi-Facing-Allegations-of-Elder-Financial-Fraud-300x200 Based on FINRA’s BrokerCheck report on Camarco, a complaint was filed on August 23, 2017 alleging that Camarco since approximately 2004 has misappropriated more than $2.8 million in investor funds from her clients and customers while employed at LPL Financial LLC by using her wholly owned company Camarco Investments, Inc. to funnel investor funds to her personal bank account. The complaint, commenced on August 23, 2017, is still pending; however, the damages are expected to be substantial. As a result of the complaint filed, clients have filed subsequent complaints dated on 12/05/2017 in the amount of $19,436.43 in damages for securities fraud and theft, 10/11/2017 in the amount of $12,664.75 in damages for securities fraud and theft, and on 10/20/2017 alleging damages of $52,234.20 that is still pending for breach of fiduciary duty with respect to an elderly individual, conversion, and fraud. As a result of these claims and additional pending actions, Camarco has received a permanent suspension from the securities industry.

Camarco has been employed at Linsco/Private Ledger Corp. from 2004 to the present. Previously, Camarco was employed at LPL Financial LLC from 2004 to 2017, Morgan Stanley DW Inc. from 2000 to 2004, and Merrill Lynch Pierce, Fenner & Smith Incorporated from 1993 to 2000.

Silver Law Group is Investigating Cornelius Peterson of Morgan Stanley Smith Barney

May 15, 2018 | Silver Law Group

Silver Law Group is currently investigating Boston, MA and New York, NY based broker Cornelius Peterson regarding complaints pertaining to failure to provide due diligence to investor clients, misappropriation of client funds and misrepresentation.

Based on FINRA’s BrokerCheck report on Peterson, a complaint was filed on September 1, 2017 alleging that Peterson provided misleading information to investor clients during his employment at Morgan Stanley Smith Barney. In 2016, Peterson and his colleague James S. Polese were both charged with allegations relating to stealing upwards of $450,000 from one of their elderly clients. The allegations include misappropriating at least $350,000 of client’s funds by using $100,000 of the funds to make investments in their own names and directing the remaining $250,000 to their own personal bank accounts. In addition, several unauthorized withdrawals from the client’s account were made that totaled $93,000. Thus far, Peterson has a permanent suspension and the current charge is still pending.

Peterson was previously employed at Morgan Stanley Smith Barney from 2011 to 2017 and St. Lawrence University from 2007 to 2011.