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Silver Law Group’s managing partner Scott Silver has recently been awarded the designation of an America’s 100 High Stakes Litigator for the Southern Florida region. Every year, America’s Top 100 recognizes 100 attorneys in each state and highlighting their accomplishments. Using a proprietary selection methodology, along with specific criteria, the organization seeks out attorneys throughout the US for their exceptional work in their chosen field of law. A high-stakes litigator is one who has: Litigated a case worth at least $2M, either for a plaintiff or a defendant, or Litigated a case involving a business with an outcome worth at least $2M The attorney is initially nominated by a peer or through third-party research and is by invitation-only. Once selected, the candidates are vetted through the organization’s criteria and algorithms to determine their eligibility. Additional criteria include:Silver Law Group’s managing partner Scott Silver has recently been awarded the designation of an America’s 100 High Stakes Litigator for the Southern Florida region.

Every year, America’s Top 100 recognizes 100 attorneys in each state and highlighting their accomplishments. Using a proprietary selection methodology, along with specific criteria, the organization seeks out attorneys throughout the US for their exceptional work in their chosen field of law. Continue reading ›

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According to FINRA Disciplinary actions for December 2021, 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
  William Friedman   Pinnacle Investments, LLC
  Woodstock Financial Group, Inc.
  Johnnie Jones   Network 1 Financial Securities Inc.
  National Securities Corporation
  Toni Marshall   J.P. Morgan Securities LLC
  Dominic Scalzi   Deutsche Bank Securities Inc.
  Banc of America Investment Services, Inc.
  Rosemary Vrablic   Deutsche Bank Securities Inc.
  Banc of America Investment Services, Inc.

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Cynthia Komarek & Grant Birkley, two brokers formerly registered with SagePoint Financial of Barrington, IL, were terminated on the same day after the firm discovered that they were engaged in making referrals to an outside asset manager who was not approved by the board. Cynthia Komarek (CRD#: 1188714, aka (Cynthia Ann Brown, Cynthia Brown-Komarek, Cynthia Brown Komarek, Cynthia Brown Pearson) is a former registered broker and investment advisor last employed with SagePoint. Her previous employers include Wells Fargo Clearing Services, LLC (CRD#:19616) of Woodstock, IL., Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Crystal Lake, IL., and Lehman Brothers Inc. (CRD#:7506), of New York, NY. She has been in the industry since 1983. Grant Birkley (Grant Christopher Birkley CRD#: 2933533) is also formerly registered with SagePoint, Wells Fargo, and Merrill Lynch at the same time as Komarek. He has been in the industry since 1998.  Two client disputes were filed on the same day for both Komarek and Birkley. In Komarek’s case, they total $2,330,000:Cynthia Komarek & Grant Birkley, two brokers formerly registered with SagePoint Financial of Barrington, IL, were terminated on the same day after the firm discovered that they were engaged in making referrals to an outside asset manager who was not approved by the board. Continue reading ›

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The Wall Street Journal reported that Fidelity Investments is the subject of a Labor Department probe and a lawsuit by an investor in a T-Mobile 401(k) plan, regarding the disclosure of an “infrastructure fee” it charges mutual funds for using their FundsNetwork asset management platform.The Wall Street Journal reported that Fidelity Investments is the subject of a Labor Department probe and a lawsuit by an investor in a T-Mobile 401(k) plan, regarding the disclosure of an “infrastructure fee” it charges mutual funds for using their FundsNetwork asset management platform.

The lawsuit claims that Fidelity conceals the fee, while Fidelity says it fully discloses all fees it charges. Continue reading ›

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FINRA Reports Brokers Nas Adel Allan and Gregory Anastos Made Unsuitable Recommendations on elderfinancialfraudattorneys.comSilver Law Group represented the Claimant in a FINRA arbitration claim against Texas E&P Partner, Inc. and Mark Plummer.  Scott Silver, managing partner of Silver Law Group, a leading securities and investment fraud law firm, said “the Award is significant because we have seen a rise in cases involving private placements and alternative investments and we are grateful that the FINRA Panel recognized the damage caused by Respondent.

The securities arbitration claim alleged that Respondents sold a Reg D private placement to the Claimant without disclosing all of the risks and the investment was unsuitable.  The FINRA Statement of Claim further alleged that the Respondents charged excess commissions or markups.  Significantly, the FINRA Arbitration Panel found that Respondents are jointly and severally liable for and shall pay to Claimant the sum of $1,000,000.00 in punitive damages pursuant to Mastrobuono v. Shearson Lehman Hutton, Inc., 514 U.S. 52, 64 (1995).

If you’ve lost money investing in unsuitable private placements or Reg “D” offerings, you may be able to recover your investment losses. We take cases on a contingency fee basis, meaning you pay nothing unless we recover. Please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.

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South Florida businessman Barry Honig of Boca Raton is one of several people named by the SEC in a microcap stock fraud indictment involving manipulation of stock values of three companies. Using a “classic pump-and-dump” technique, the SEC alleges, Honig and others increased the companies’ stock values and dumped them. Investors were left with deflated stock after the scheme was discovered.

The Woodbridge Group of Companies is Under Investigation by the SEC on elderfinancialfraudattorneys.comThe SEC is seeking civil relief penalties and disgorgement of the ill-gotten gains against the defendants and the companies.

The Scheme

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Silver Law Group and The Law Firm of David R. Chase filed a FINRA arbitration claim against Independent Financial Group, a securities firm, after its broker improperly recommended the services of an individual who the SEC claims was engaged in a Ponzi scheme.

The statement of claim alleges the Claimant was the client of Independent Financial Group and its broker, Jon Pariser (CRD# 2755015).  In or around June 2017, Pariser informed Claimant that he was retiring and that he had a capable and skilled professional who he could recommend to take over — Christopher A. Parris, an unlicensed securities broker.

Pariser allegedly told the Claimant that Parris came highly-recommended and could be trusted, despite the fact that Parris had been suspended by FINRA less than two (2) years prior. The Claimant, according to the statement of claim, was unaware of this fact and relied upon Pariser’s professional opinion.

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Silver Law Group has filed a FINRA arbitration claim against MetLife Securities / MSI Financial Services (“MetLife”), ELE Wealth Advisors and their former broker, Gail Milon (CRD# 1766745) after Milon sold an investment in Tallahassee, Florida-based Cambridge Capital Group LLC.

The statement of claim alleges the Claimant had invested with Milon for over a decade. In or around 2017, Milon induced her to invest in Cambridge Capital Group. The investment was supposed to be a short-term, real estate investment.

Milon became involved with Cambridge Capital Group, a company affiliated with Phillip “Tim” Howard of Howard & Associates. Cambridge Capital Group is affiliated with numerous other companies, including but not limited to Cambridge Capital Advisors; Cambridge Capital Wealth Advisors L.L.C.; Cambridge Capital Insurance Agency LLC; Cambridge Capital Funding, Inc.; Cambridge Sports and Entertainment, LLC; and Cambridge Graduate University, Inc. (collectively “Cambridge Capital”).

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Silver Law Group has filed a FINRA arbitration claim against Centaurus Financial, Inc. for unsuitable investment recommendations.

The securities arbitration claim alleges the Claimants are both U.S. military veterans who entrusted their life savings to the advisor in 2008 when she was employed by J.P. Turner & Company. They transferred their accounts to Centaurus Financial when the advisor left J.P. Turner & Company. The securities arbitration claim alleges the investors were conservative investors who did not want to risk their principal and jeopardize their retirement.

Centaurus Financial disregarded the Claimants’ wishes and invested their money in a variety of riskier investment products such as non-traded real estate investment trusts (REITs), market-linked CDs, and structured notes.

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Silver Law Group is investigating Minnesota-based Century Securities Associates, Inc. broker Bernard McLaughlin Jr. (CRD# 601178) after he declared bankruptcy.

According to McLaughlin’s FINRA BrokerCheck report, McLaughlin declared bankruptcy in August 2017. McLaughlin’s debts incurred in the bankruptcy were discharged in November 2017.

A bankruptcy disclosure indicates that the broker may have financially struggled leading up to the bankruptcy. This financial distress can sometimes lead brokers to recommend unsuitable, risky products with high commissions and fees or engage in other securities misconduct such as excessively trading (churning) customers’ accounts in order to generate higher commissions.

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