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Ronald Harris Rothchild (CRD #4491932) is a registered broker and investment advisor currently employed with National Securities Corporation (CRD #7569 of Melville, NY.) His previous employers include Raymond James Financial Services, Inc. (CRD #6694) of Garden City, NY, Wells Fargo Advisors, LLC (CRD #19616) of Melville, NY, and David Lerner Associates, Inc. (CRD #5397) of Syosett, NY. He has been in the industry since 2002.

David-Sullivan-Accused-of-Excessive-Trading-on-More-Than-One-Occasion-300x200Rothchild is the subject of eight disclosures, the most recent of which was a customer dispute filed on 7/30/2018. In it, the client alleges “breach of contract, negligence, unsuitability, breach of fiduciary duty.”  Damages requested are $100,000. This case is listed as “pending.”

Two previous customer disputes have been settled. The first, filed on 3/28/2018, alleges that from 7/26/2011 through 4/11/2016, Rothchild misrepresented certain investments that were unsuitable for her objectives. The client also alleges that her risk tolerance and investment objectives were incorrectly documented on her updated account paperwork.  This customer requested damages of $149,236.86, and the case was settled for $75,000.

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Recently, we told you about broker Thomas Kelly (CRD #2877415) whose disclosure include customer disputes that total over $1M in damages. Recently, another customer filed a dispute for another $500,000. He is currently employed with Aegis Capital (CRD #15007) of New York, NY.

Securities Arbitration Claims Against National Securities Corp. on silverlaw.comThe claim, filed on 11/1/2018, alleges “suitability, unauthorized trading, breach of fiduciary duty & negligence,” along with the request of $500,000 in damages. This new case is currently “pending,” and no other information is available.

Our securities arbitration attorneys represent victims of cold calls, excessive trading, churning and unsuitability.  National Securities Corp. is the subject of multiple arbitration claims for unsuitable investments and claims including private placements.

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Daniel John Flores (CRD #2908027) is a previously registered broker and investment advisor whose last employer was Woodbury Financial Services, Inc. (CRD #421) of Appleton, WI. His previous employers include Princor Financial Services Corporation (CRD #1137) of Neenah, WI, Gunnallen Financial, Inc (CRD #17609) and Sii Investments, Inc. (CRD #2225), both of Appleton. No current employment information is available. He has been in the industry since 1997.

Flores has three disclosures in his record, all from 2018. On 4/16/2018, he was discharged from Woodbury for engaging in an unapproved financial transaction with a client.”  No additional information is available for this case.

https://www.silverlaw.com/blog/wp-content/uploads/2017/07/FINRA-Permanently-Bars-Honetta-C.-Kao-After-Allegations-of-Unauthorized-Trading-and-Mishandled-Accounts-300x200.jpgOn 7/27/2018, FINRA reported that Flores failed to respond for a request for information. Two letters were sent to Flores on 7/27/2018, and 8/20/2018, respectively, with no response. On October 30, 2018, FINRA barred Flores indefinitely and in all capacities from any association with a FINRA member.

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Cory Bataan (CRD #2755223) has been employed with Emoire Asset Management Company since April 2008. Previous employment includes Empire Asset Management Company from April 2008 to August 2012, Ameritas Investment Corp. from December 2007 to April 2008 and Joseph Stevens & Company, Inc. from October 1996 to July 2001.

According to the FINRA BrokerCheck, there have been complaints against Mr Bataan.

Churning-Other-Allegations-Made-Against-Broker-Michael-Doyle-300x200In 2015, while employed by Aegis Capital Corp., Claimant alleges unsuitable recommendations and excessive fees & commissions.  Complaint was settled for $25,000.00.

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Nick Son (CRD #1178523) has been employed with Aegis Capital Corp since August 2014 and was also registered with Aegis from March 2010 to April 2011.  Previous employment includes Alexander Capital, L.P. from March 2012 to August 2014, WTS Proprietary trading Group LLC from December 2011 to June 2012, Gunnallen Financial, Inc. form July 2002 to March 2010, Investprivate, Inc. from June 2001 to July 2002, Josephthal & Co., Inc. from July 1998 to May 2001, JW Charles Securities, Inc. from May 1997 to August 1997, Whale Securities Co., L.P. from September 1996 to May 1997 and State Capital Markets Corporation from December 1995 to September 1996.

According to the FINRA BrokerCheck, there have been complaints against Nick Son.

Margin-Account-Guidelines-300x200In 1996, while employed by State Capital Markets Corporation, Client alleges the stock offering from Cable and Fun Tyme were not registered in Texas; The sale of non-registered stock is a violation of Texas State securities Act 7A and is therefore illegal.  Complaint was settled for $14,500.00.

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Anthony Sica (CRD #1332626) has been employed by Joseph Gunnar since November 2003.  Previous employment includes Wachovia Securities, LLC from January 2001 to October 2003, Prudential Securities Incorporated from April 1993 to January 2001, Lehman Brothers Inc. from August 1985 to April 1993 and McLaughlin, Piven, Vogel Inc. from January 1985 to August 1985.

According to the FINRA BrokerCheck, there have been complaints against Anthony Sica.

Leon-Vaccarelli-Fined-and-Sanctioned-by-FINRA-300x199-1-300x199In 2017, while employed by Joseph Gunnar, allegations shown without admitting or denying the findings, Sica consented to the sanctions and to the entry of findings that he made unsuitable recommendations to an elderly customer living on a fixed income.  The findings stated that Sica repeatedly recommended that the customer purchase high-risk, speculative securities that were inconsistent with her investment profile.  Sica’s recommendations often resulted in an undue concentration of the customer’s account, which represented substantially all of her liquid assets, in speculative securities. Further, Sica often engaged in short-term in-and-out trading of the speculative investments in the customer’s accounts causing substantial losses. Sica’s recommendations resulted in losses of more than $150,000. The findings also stated Sica engaged in unauthorized trading by placing trades in the IZRA accounts of a customer who Sica knew was deceased causing aggregated losses on the trades totaling approximately $3,039.

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Jonathan William Iraggi (CRD #5857254) is a former registered broker whose last employer was National Securities Corporation (CRD #7569) of Morganville, NJ. His previous employers include Garden State Securities, Inc. (CRD #10083) of Red Bank, NJ, Spartan Capital Securities, LLC (CRD #146251) and Portfolio Advisors Alliance, Inc. (CRD #101680) of New York, NY.  No current employment information is available. He has been in the industry since 2011.

David-Ledoux-Fined-and-Suspended-by-FINRA-After-Failing-to-Disclose-Liens-on-His-Registration-300x200Iraggi is the subject of four disclosures, the most recent a disciplinary action by FINRA, as well as one employment discharge and two denied customer disputes. In the FINRA action, filed on 8/23/2018, Iraggi failed to notify his employer firm, Garden State Securities, that he had verbal authorization to exercise discretion in three customer accounts. Iraggi did not obtain written authorization from the clients, nor written authorization from the firm to service the accounts on a discretionary basis.

Later, when filling out an annual compliance questionnaire in December of 2016, Iraggi failed to disclose to the firm that he had exercised discretion with a customer’s account, answering “no” when he actually had. Iraggi was fined $5,000 and a 30-day suspension from any association with a FINRA member firm, consented to the findings and signed a letter of Acceptance, Waiver & Consent (AWC.)

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Dominick Joseph Diorio, Jr. (CRD #2447817) is a registered broker currently employed with Aegis Capital Corp. (CRD #15007) of Melville, NY. He was previously employed with Global Arena Capital Corp (CRD #16871) of New York, NY, Prestige Financial Center, Inc. (CRD #30407), also of Melville, and S.W. Bach & Company (CRD #43522), of Port Washington, NY. Five of his previous employers have been expelled by FINRA. He has been in the industry since 1995.

Be on the Lookout: 3 Common Signs of an Investment Scam on elderfinancialfraudattorneys.comDiorio is the subject of four disclosures, the most recent filed on 2/12/2018. In it, the client alleges “unauthorized trading and unsuitable investment recommendations,” and requests damages of $769,690.00. Diorio steadfastly denies the charges. This case is currently pending.

A previous customer dispute filed on 9/29/2017 has similar allegations of an “unsuitable investment strategy” during the period of December 2012 through July of 2017. Diorio also denies the allegations, and explained reasons why the case wasn’t valid including the investment savvy of the customer. On the advice of counsel, Diorio and the firm settled this claim for a total of $837,500.00 instead of risking higher damages and expenses on a hearing and possibly a trial.

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https://www.silverlaw.com/blog/wp-content/uploads/2017/07/FINRA-Permanently-Bars-Honetta-C.-Kao-After-Allegations-of-Unauthorized-Trading-and-Mishandled-Accounts-300x200.jpgThe Commodity Futures Trading Commission (CTFC) filed orders today that brought and settled cases against two commodities firms engaged in unauthorized trading and two traders attempting to manipulate commodity prices.

In the first case, Iowa-based Kooima & Kaemingk Commodities, Inc. (K&K), Lauren Kaemingk (Kaemingk), and Bradley Kooima (Kooima) were charged with:

  • Fraud
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Jovannie Aquino (CRD #4876661, aka John Aquino) is a former registered broker of New York, NY. Previous employers include Windsor Street Capital (CRD #34171), also in New York City, John Carris Investments LLC (CRD #145767), John Thomas Financial (CRD #40982) and Hallmark Investments, Inc. (CRD #135003) of New York City.

Aquino has worked for a total of 12 brokerages, holds Series 7 and 63 licenses and began working in the industry in 2004. Aquino has two LinkedIn pages that do appear to be updated, and no current employment information is available.

SEC Announces Charges in Massive Telemarketing Boiler Room Scheme Targeting Seniors on elderfinancialfraudattorneys.comOn September 7, 2018, the SEC charged Aquino with defrauding customers by engaging in “churning” to generate excessive commissions for himself, in the amount of $930,000. Aquino’s customers lost a total of $881,000. At the time of these allegations, May 2014 through November 2017, Aquino was registered with Meyers Associates, L.P. (now known as Windsor Street Capital.) The SEC complaint also states that in 2015 and 2016, Aquino and an unnamed colleague engaged in cold-calling leads acquired from a publicly available database.

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