A National Securities Arbitration & Investment Fraud Law Firm
CRD#2227996
Silver Law Group is investigating Boca Raton, Florida-based Newbridge broker Gaetano Magarelli following multiple customer complaints alleging unsuitable investment recommendations, churning and misrepresentation
CRD#5556827
Silver Law Group is investigating Former New York, New York-based Garden State Securities broker Alexander Kibrik following a customer complaint alleging unauthorized investment activity and unsuitable investment recommendations.
CRD#4913490
Silver Law Group is investigating Staten Island, New York-based First Standard Financial Company broker Willam Gennity following a customer complaint alleging unauthorized investment activity, unsuitable investment recommendations and breach of fiduciary duty.
Silver Law Group continues to investigate investments in oil, gas, and energy companies made by clients through master limited partnerships (“MLPs”) at the recommendation of their brokers. As a result of high oil prices over the past few years, there has been a heightened interest in investments in oil and gas using MLPs. Now with the drop in the price of oil and gas, investors who may have been looking for conservative investments without significant risk are facing substantial drops in their portfolios. Investors are further discovering that conflicts of interest between the investment bank, trading desk, and individual advisor influenced stockbroker’s recommendations.
These alternative investments in oil and gas typical take the form of Master Limited Partnerships (“MLPs”). These types of alternative investments have historically been extremely risky investments that demand a careful suitability analysis and due diligence by financial processionals before they are recommended to the public. More often than not, broker-dealers and brokers are enamored with these types of investments because they, like other alternative investments, also tend to pay high commissions.
In a recent Financial Industry Regulatory Authority (“FINRA”) arbitration proceeding, RBC Capital Markets and its broker Bruce Cameron were ordered to pay a former client $723,000 for losses sustained from investing in MLPs. The claims included overconcentration in unsuitable investments (MLPs), negligence, and failure to supervise. Cameron was registered with the RBC Massachusetts office.
Silver Law Group won an award against former FINRA-registered broker Curtis D. Milakovich for unsuitable recommendations, churning, and acting as an unregistered investment advisor.
On December 22, 2017, a FINRA arbitration panel awarded Silver Law Group’s clients $164,000 in compensatory damages after the arbitration panel found that Milakovich was liable for unsuitable recommendations, breach of fiduciary duty, negligence, and churning.
Jeffrey L. Mischel
CRD# 1374486
Silver Law Group is examining Carlsbad, California-based Wells Fargo broker Jeffrey L. Mischel after multiple clients filed FINRA complaints alleging misrepresentation relating to the purchase of Puerto Rico municipal bonds.
Silver Law Group is investigating St. Augustine Florida-based D.H. Hill Securities, LLLP (CRD# 41528) broker Charles T. Stevens (CRD# 1698058) after FINRA sanctioned D.H. Hill Securities over misconduct concerning public non-traded REITs.
Stevens’ runs his own St. Augustine, Florida-based D.H. Hill Securities office under the moniker St. Johns Financial Planning. St. Johns Financial Planning and Stevens hold themselves out as an independent agency specializing in retirement and estate markets that has been in business in the St. Augustine, Florida area for the past twenty-five (25) years, according to Stevens’ and his firm’s website.
Silver Law Group is investigating Melville, New York-based SW Financial (CRD# 145012) broker James W. Flower (CRD# 2817701) after FINRA suspended him.
FINRA Suspends Flower
According to Flower’s FINRA BrokerCheck report, FINRA barred Flower after the regulatory organization found that Flower unsuitably recommended an exchange-traded note (“ETN”).
Silver Law Group is investigating Greensboro, North Carolina-based Ameritas Investment Corp. (CRD# 14869) broker Alonza Barnett Jr (CRD# 4577695) after FINRA barred him and a customer brought a complaint alleging $1.75 million in damages.
According to Barnett’s FINRA BrokerCheck report, FINRA barred Barnett in March 2017 after he failed to respond to a FINRA request for information. According to FINRA, Barnett failed to request termination of his suspension within three (3) months of the date of the Notice of Suspension.
Silver Law Group is investigating former South Florida-based Raymond James & Associates, Inc. (CRD# 705) broker Leon P. Rehak (CRD# 2331058) after a customer brought a FINRA arbitration complaint alleging over half a million dollars in damages.
According to Rehak’s FINRA BrokerCheck report, a customer of Rehak filed a FINRA arbitration against him in November 2016 – a few weeks after he left Raymond James.
According to Rehak’s BrokerCheck report, Rehak, who is currently employed by LPL Financial LLC (CRD# 6413) at its Pompano Beach, Florida location, allegedly committed numerous types of securities misconduct between 2004 and 2011 in a customer’s accounts.
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