Stockbroker Misconduct

Josh Abernathy, O.N. Equity Sales Company Broker, Permanently Barred by FINRA

June 16, 2015 | Silver Law Group

A former broker with O.N. Equity Sales Company in Norfolk, Virginia, was permanently barred by FINRA. Josh Abernathy was barred from association in any manner with any FINRA member for failing to provide information requested by FINRA. Abernathy was registered with The O.N. Equity Sales Company from February 2013 until August 2014. Prior to working at O.N., he worked at Next Financial Group and MML Investors Services. Abernathy also owned and controlled his own investment company called Omega Investment Group which he allegedly used to operate a Ponzi scheme.

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Jenna Connett, Formerly a Broker at Morgan Stanley, Permanently Barred by FINRA

June 16, 2015 | Silver Law Group

Jenna Connett was permanently barred by FINRA for association with any FINRA member in any capacity for failing to respond to FINRA’s request for information. Connett worked at Morgan Stanley in Red Bank, NJ from June 2009 until she was suspended by FINRA in July 2014. Prior to working at Morgan Stanley, Connett worked at Citigroup Global Markets.

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Former Securities America Broker Judith Woodhouse Permanently Barred by FINRA

June 16, 2015 | Silver Law Group

Judith Woodhouse, a former broker at Securities America, was permanently barred by FINRA for association with any FINRA member in any capacity for failing to respond to FINRA’s request for information. Woodhouse worked for Securities America from December 2008 through February 2013 and then again from July 2013 through September 2014. It appears that she had a previous suspension in February 2013 for participating in private securities transactions away from her prior firm, EPlanning Securities in 2009. She was fired from Securities America in August 2014 for failure to follow firm policies and procedures relating to the borrowing of funds and relating to responding to supervisory requests.

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Former Kovack Securities Broker Curtis Milakovich Barred by FINRA

June 16, 2015 | Silver Law Group

Curtis Milakovich was permanently barred by FINRA for association with any FINRA member in any manner for failing to respond to FINRA’s request for information. Milakovich worked at Kovack Securities from May 2011 until November 2013, when he resigned after Kovack received an inquiry from one of Milakovich’s clients about the nature and volume of the trading activity in her account and commissions charged. Kovack believed that the inquiry might evolve into a complaint and was considering setting aside a portion of Milakovich’s commissions to cover any potential claim from the client. There is 2013 complaint on Milakovich’s CRD that was settled in 2014 for $55,000, a portion of which Milakovich is responsible for paying. This complaint alleges unsuitable transactions and unauthorized and excessive trading.

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Broker Michael Patrick O’Neill Fined and Suspended by FINRA for Impersonating a Former Customer

June 15, 2015 | Silver Law Group

National Securities Corporation broker Michael O’Neill was suspended by FINRA for 20 days and fined $5,000 for impersonating a former customer to assist the customer in obtaining information from a FINRA member firm about the customer’s own account. This was apparently done with the customer’s approval. O’Neill has worked at National Securities Corporation since August 2013. Prior to working at NSC, he was a broker at Brookville Capital Partners.

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Ameriprise Broker Joel Blum Suspended by FINRA for Unauthorized Trading

June 15, 2015 | Silver Law Group

Joel Blum, currently with Ameriprise Financial Services, was suspended by FINRA for 20 days for a dispute occurring when he was a broker at Merrill Lynch. FINRA found that he executed discretionary transactions in customers’ accounts without written authorization. In addition, it was found that he marked the order tickets for these transactions as unsolicited; when in fact they were solicited. He was also fined $10,000.00 by FINRA. Blum worked at Merrill Lynch from May 2008 until February 2014.

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Brokers Suspended by FINRA in May 2015 for Failing to Comply with FINRA Award or Settlement Agreement

May 26, 2015 | Silver Law Group

According to FINRA Disciplinary actions for May 2015, 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
Jinesh Pravin Brahmbhatt	Success Trade Securities, Inc.
Jinesh Pravin Brahmbhatt	LPL Financial Corporation
Patrick Ryan Bray	Newbridge Securities Corporation
Patrick Ryan Bray	UBS Financial Services Inc.
Douglas Walter Campbell Jr.	Wedbush Securities Inc.
Douglas Walter Campbell Jr.	Brookstreet Securities Corporation
Andrew Joseph Donofrio	Garden State Securities, Inc.
Andrew Joseph Donofrio	Wells Fargo Advisors, LLC
Anthony Frank Giuliano III	EKN Financial Services, Inc.
Anthony Frank Giuliano III	John Thomas Financial
Greg James Hilliard	Toussaint Capital Partners, LLC
Greg James Hilliard	Oppenheimer & Co. Inc.
Brendon John Lyden	Oppenheimer & Co. Inc.
Brendon John Lyden	UBS Financial Services Inc.
Wilhelm Nash	UBS Financial Services Inc.
Wilhelm Nash	Credit Suisse Securities (USA) LLC
Alexander Walter Swanson

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

FINRA Terminates Brokers’ Licenses in May 2015

May 20, 2015 | Silver Law Group

According to FINRA Disciplinary actions for May 2015, 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
Charles Eric Brown
Omar Campos	LPL Financial LLC
Omar Campos	Chase Investment Services Corp
Marie Elizabeth Cantu	Citigroup Global Markets Inc.
Marie Elizabeth Cantu	Citicorp Investment Services
James Arthur Champi	J.P. Morgan Securities LLC
James Arthur Champi	Chase Investment Services Corp.
Joseph Edmund Flores DeMeneses Jr.	COR Clearing LLC
Joseph Edmund Flores DeMeneses Jr.	Direct Access Partners LLC
Elon Isreal Henek	Sunstreet Securities, LLC
Elon Isreal Henek	EJ Sterling Inc.
Jonele Inise Hinton
Jeremy Shawn Hixson	U.S. Bancorp Investments, Inc.
Jeremy Shawn Hixson	Firstmerit Financial Services, Inc.
Mark Joy Lane	Cetera Advisor Networks LLC
Mark Joy Lane	Walnut Street Securities, Inc.
Salim Lyazidi	Kovack Securities Inc.
Salim Lyazidi	JHS Capital Advisors, LLC
Scott Frederick Matthews	Key Investment Services LLC
Scott Frederick Matthews	Ameriprise Financial Services, Inc.
Chadrick Alan Moss	Wells Fargo Advisors, LLC
Paul Avery Nicholls Jr.	MML Investors Services, LLC
Paul Avery Nicholls Jr.	Investment Professionals, Inc.
Jason Charles Parker	LPL Financial LLC
Jason Charles Parker	Edward Jones
Jane Linda Taylor	H.D. Vest Investment Services
Daniel L. Valdes	Suntrust Investment Services, Inc.

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Stockbroker Thomas Tedeschi and Broker-Dealer Aegis Capital Corp. are the Subject of Multiple Securities Arbitration Claims Against Them for Churning

May 14, 2015 | Silver Law Group

According to FINRA, Thomas Tedeschi has recently been named in a securities arbitration lawsuit against him and his former employer, Aegis Capital Corp., for making unsuitable investments, unauthorized trades, misrepresentations and excessive trading (churning), among other claims. The assertions against him involve speculative securities that include penny stocks and Exchange Traded Notes. Mr. Tedeschi is required by law to only recommend or engage in transactions that are suitable to their individual client, and not to excessively trade in their accounts. This type of trading may be considered stockbroker misconduct called churning. The excessive buying and selling is done for the purpose of generating commissions for the broker, and not to benefit the client. In fact, it almost always results in enormous losses to the client.

Thomas Tedeschi began his stockbroker career in 1994 and has been employed by 17 different brokerage firms since then, seven of which have been expelled from the brokerage industry by FINRA for violations of the law and misconduct. It is quite a shocking record. Additionally, Aegis Capital Corp. has many claims against it, including 17 final regulatory violations that were filed by FINRA, NASDAQ Stock Market, and other regulatory bodies, for such violations as market manipulation, excessive buying and selling of illicit microcap stocks, failure to supervise and failure to disclose, late trade reporting, and other violations of NASD Rules and Texas Securities Acts as well. There is one regulatory violation claim currently pending. Aegis Capital Corp has also been fined on numerous occasions and has been suspended in the past from acting as a market maker.

If you invested money with Thomas Tedeschi or Aegis Capital Corp. and suffered losses, you may be entitled to recover some or all of those investment losses. Please call our securities law firm toll free at (800) 975-4345 to speak with an experienced attorney and to find out how we may be able to help you regain some or all of your investment losses. Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful in your lawsuit.

FINRA Bars Herbert Kaye for Executing Trades without Prior Authorization

February 3, 2015 | Silver Law Group

Herbert Leonard Kaye, of Delray Beach, Florida, submitted an AWC in which he was assessed a deferred fine of $25,000, which includes disgorgement of $11,000 of commissions received, and suspended from association with any FINRA member in any capacity for four months. Kaye was registered with First Allied Securities in Boca Raton, Florida from 2008-2013. Without admitting or denying the findings, Kaye consented to the sanctions and to the entry of findings that he entered discretionary trades in equities and ETFs in a customer’s account without the customer’s prior written authorization. Kaye’s member firm’s written policies and procedures prohibited registered representatives from exercising discretion in customer accounts except in certain, limited circumstances that did not apply to the customer’s account. The trades generated almost $175,000 in gross commissions and fees. Accordingly, it appears that Kaye may have executed some trades simply to generate additional fees or commissions. This is typically referred to as churning.

The findings also stated that Kaye recommended his customer invest $1.1 million in a gold and precious minerals fund that was not suitable for her in light of her moderate risk tolerance, investment objective of growth and income, desire to avoid market fluctuations, the concentrated nature of the investment and her age. Kaye received $11,000 in gross commissions for the investment. Cases involving precious metals have become prevalent as advisors recommend gold and other metals to their clients.

If you invested money with Herbert Leonard Kaye, you may be entitled to recover some of you investment losses. Please call our securities law firm toll free at (800) 975-4345 to speak to an attorney to find out how we may be able to help you recover some of your investment losses.