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Silver Law Group founder and managing partner Scott Silver recently commented on a case in which a former Wells Fargo customer requested to have an arbitration decision overturned because he felt that he was “improperly induced” into signing a release agreement prior to seeking arbitration. “This case highlights the way big brokerage firms clean up situations with bad brokers by protecting themselves instead of protecting their customers and advising them of significant misconduct,”  Scott said in an email to AdvisorHub The case stems from a former Wells Fargo broker, Scott Wayne Reed (CRD# 3007033), of Scottsdale, AZ, who persuaded his brokerage customers into investing in a private software company without the firm’s approval, known as “selling away.”  The now-defunct entity, called Pebblekick, was a streaming company based in Pasadena, CA. Reed solicited six investors, invested $200,000 of his own funds into the company, and received a commission of $191,340 for his work recruiting six new investors. As a result, FINRA barred Reed from the industry in 2021. Kenneth Grover, the client, originally signed an agreement with Wells Fargo that would forgive his margin call debt with the firm after his broker, Reed, was barred. Grover’s signing of the release agreement in exchange for the debt forgiveness also dismissed any other claim he might have against the wirehouse.Silver Law Group founder and managing partner Scott Silver recently commented on a case in which a former Wells Fargo customer requested to have an arbitration decision overturned because he felt that he was “improperly induced” into signing a release agreement prior to seeking arbitration.

“This case highlights the way big brokerage firms clean up situations with bad brokers by protecting themselves instead of protecting their customers and advising them of significant misconduct,”  Scott said in an email to AdvisorHub Continue reading ›

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Sean Righter (CRD# 5419832) is a previously registered broker and currently registered investment advisor. His last known employer was Morgan Stanley (CRD# 149777) of Irvine, CA. Prior to Morgan Stanley, Righter was employed with Citigroup Global Markets Inc. (CRD# 7059) of Laguna Nigel, CA. He has been in the industry since 2007. A customer dispute filed on 3/12/25 alleges that Righter executed an “unsuitable” investment strategy in a client’s account. This unsuitability went from January 2021 through January 2025. The client requests damages of $1,300,000. This claim is currently “pending.”Sean Righter (CRD# 5419832) is a previously registered broker and currently registered investment advisor. His last known employer was Morgan Stanley (CRD# 149777) of Irvine, CA. Prior to Morgan Stanley, Righter was employed with Citigroup Global Markets Inc. (CRD# 7059) of Laguna Nigel, CA. He has been in the industry since 2007. Continue reading ›

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Charles Weldon (Charles Raymond Weldon, CRD# 1030659, aka “C. Raymond Weldon”) is a currently registered broker and investment advisor currently employed with Independent Financial Group, LLC (CRD# 7717) of Boca Raton, Fl, and as an investment advisor with Weldon & Company (CRD# 129099), also of Boca Raton. His previous employers include The Investment Center, Inc. (CRD# 17839), and Cetera Advisor Networks LLC (CRD# 13572), also of Boca Raton. He has been in the industry since 1984. Weldon is the subject of seven disclosures, all customer disputes. Two claims are pending, and five have been settled. No disciplinary action has been recorded in his CRD. The most recently filed dispute was filed on 3/10/2025, alleging unsuitable investment recommendations that led to losses. Additionally, the claimants allege that the broker dealer failed to adequately supervise the representative (Weldon.) The claimants are requesting damages of $500,000.01. In his rebuttal, Weldon claims that the accounts transferred from Cetera, and were not IFG accounts, and will be defended by the firm. This claim is currently pending.

Charles Weldon (Charles Raymond Weldon, CRD #1030659 ) is a registered broker and investment advisor currently employed with Independent Financial Group of Boca Raton, FL. His previous employers include Cetera Advisor Networks LLC (CRD# 13572) and Girard Securities, Inc. (CRD# 18697), also of Boca Raton, and Main Street Management Company (CRD# 547), of Fort Lauderdale, FL. He has been in the industry since 1982.

Weldon is the subject of five disclosures on his BrokerCheck records. All five are customer disputes: Continue reading ›

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Mario Martinez (Mario L. Martinez, CRD# 6144561) is a former registered broker and investment advisor last employed with Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD# 7691) of Fort Lauderdale, FL. He was previously employed with AXA Advisors, LLC (CRD# 6627) of Miami, FL, and has been in the industry since 2013. On December 18, 2024, a customer filed a dispute alleging that Martinez misappropriated funds, and that she also loaned money to him. The dispute was settled for $331,242.55. No additional information is available.Mario Martinez (Mario L. Martinez, CRD# 6144561) is a former registered broker and investment advisor last employed with Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD# 7691) of Fort Lauderdale, FL. He was previously employed with AXA Advisors, LLC (CRD# 6627) of Miami, FL, and has been in the industry since 2013. Continue reading ›

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When a broker-dealer terminates a broker, it doesn't mean the problems are gone. Some firms continue to deal with those problems for some time. In the case of United Planners’ Financial Services of America, they are still handling the fallout from the firm's former broker, Philip Anthony Riposo (CRD# 400056), who was fired in March of 2022. United Planners and Riposo’s clients, Susan Cushing and Curtis Miller brought a FINRA arbitration against  United Planners’ in 2023, and were recently awarded $346,000 in damages, plus interest, in a recent FINRA arbitration.When a broker-dealer terminates a broker, it doesn’t mean the problems are gone. Some firms continue to deal with those problems for some time. In the case of United Planners’ Financial Services of America, they are still handling the fallout from the firm’s former broker, Philip Anthony Riposo (CRD# 400056), who was fired in March of 2022.

United Planners and Riposo’s clients, Susan Cushing and Curtis Miller brought a FINRA arbitration against  United Planners’ in 2023, and were recently awarded $346,000 in damages, plus interest, in a recent FINRA arbitration. Continue reading ›

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Have you suffered losses after your broker recommended buying shares of the Aegis-underwritten company Farmmi? This is one of many Aegis-backed companies that has cost investors big losses.  Silver Law Group is a securities law firm that looks after investors’ interests. If you or someone you know have suffered losses from an Aegis investment recommendation, contact Attorney Scott Silver at ssilver@silverlaw.com or toll-free at (800) 975-4345 for a free consultation. Farmmi ( FAMI) is a China-based agricultural firm specializing in the production of edible mushrooms and the development of its exclusive agrarian technology. It runs an extensive network of family farms to grow its products. The company’s US headquarters is in San Francisco, with an additional 636,000 square foot warehouse and transportation facility in Los Angeles opened in 2024. Farmmi recently opened a similar facility in Somerset, NJ. The company exports its products throughout Southeast Asia, China, and Japan, as well as Europe, the Middle East, and North America.Have you suffered losses after your broker recommended buying shares of the Aegis-underwritten company Farmmi? This is one of many Aegis-backed companies that has cost investors big losses.

Silver Law Group is a securities law firm that looks after investors’ interests. If you or someone you know have suffered losses from an Aegis investment recommendation, contact Attorney Scott Silver at ssilver@silverlaw.com or toll-free at (800) 975-4345 for a free consultation. Continue reading ›

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Sanford Simmons (Sanford Graham Simmons CRD# 1018907, aka, “Sandy Simmons Jr, Sanford Graham Simmons Jr, Sanford Graham (Jr) Simmons”) is a previously registered broker and investment advisor last employed with Saxony Securities, Inc. (CRD# 115547) of Castle Rock, CO. Recent employers include Patrick Capital Markets, LLC (CRD# 16518), also of Castle Rock, Colorado Financial Service Corporation (CRD# 104343) of Centennial, CO, and Wealthforge Securities, LLC (CRD# 152550) of San Clemente, CA. He has been in the industry since 1981. Saxony Securities allowed Simmons to resign on or about 10/1/2024 after he “failed to appear for a scheduled 8210 inquiry.”  FINRA’s Rule 8210 requires individuals to provide on-the-record testimony for anything that is subject to an investigation. Brokers and other associated individuals are required under FINRA’s rules to comply with requests for information and testimony. Sanford Simmons (Sanford Graham Simmons CRD# 1018907, aka, “Sandy Simmons Jr, Sanford Graham Simmons Jr, Sanford Graham (Jr) Simmons”) is a previously registered broker and investment advisor last employed with Saxony Securities, Inc. (CRD# 115547) of Castle Rock, CO. Recent employers include Patrick Capital Markets, LLC (CRD# 16518), also of Castle Rock, Colorado Financial Service Corporation (CRD# 104343) of Centennial, CO, and Wealthforge Securities, LLC (CRD# 152550) of San Clemente, CA. He has been in the industry since 1981. Continue reading ›

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Silver Law Group is investigating Starwood Real Estate Income Trust on behalf of investors who may have bought or acquired securities and lost money resulting from the REIT. If you invested in Starwood Real Estate Income Trust (SREIT) and have questions about your legal rights, or information relevant to this matter, please contact Silver Law Group for a no-cost consultation at 800-975-4353 to discuss your potential options.Silver Law Group is investigating Starwood Real Estate Income Trust on behalf of investors who may have bought or acquired securities and lost money resulting from the REIT.

If you invested in Starwood Real Estate Income Trust (SREIT) and have questions about your legal rights, or information relevant to this matter, please contact Silver Law Group for a no-cost consultation at 800-975-4353 to discuss your potential options. Continue reading ›

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Silver Law Group is currently investigating potential claims of investors receiving stock related to the recent merger of Cleveland-Cliffs, Inc. and Canadian company Stelco. If you suffered losses after investing, contact Silver Law Group to discuss your options. You may be eligible to recover your losses. The Merger And The Investment Loss Cleveland-Cliffs Inc. completed its acquisition of Stelco Holdings Inc. on November 1, 2024. In the wake of this merger, Cleveland-Cliffs reported significant financial losses for the full year 2024: GAAP net loss: $708 million (or $1.57 per diluted share) Adjusted net loss: $351 million (or $0.73 per diluted share) Adjusted EBITDA: $780 million, down from $1.9 billion in 2023 These losses were primarily attributed to a sharp decline in steel demand and lower steel prices, compounded by reduced domestic automotive production and increased competition from imported steel. The company’s financial performance was further impacted by acquisition-related expenses and integration costs associated with Stelco.Silver Law Group is currently investigating potential claims of investors receiving stock related to the recent merger of Cleveland-Cliffs, Inc. and Canadian company Stelco. If you suffered losses after investing, contact Silver Law Group to discuss your options. You may be eligible to recover your losses. Continue reading ›

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Did your broker recommend buying shares in Document Security Systems (DSS) which was underwritten by Aegis Financial?   Document Security Systems, Inc., is a multinational company now known as DSS that operates a variety of business segments including healthcare, direct marketing, consumer packaging, real estate, renewable energy, blockchain security, and securitized digital assets. The company’s prospectus filed with the SEC indicates that the company's focus is fraud and counterfeit protections for printed documents and digital assets and information. The company also holds multiple technology patents to prevent unauthorized copying and scanning.  SLCG Report Highlighting Aegis Financial  According to a recent report by SLCG Economic Consulting, DSS is one of many companies whose stocks would have been delisted had Aegis not continued underwriting them in order to resell them to its customers, costing investors billions of dollars in losses.  Did your broker recommend buying shares in Document Security Systems (DSS) which was underwritten by Aegis Financial?

Document Security Systems, Inc., is a multinational company now known as DSS that operates a variety of business segments including healthcare, direct marketing, consumer packaging, real estate, renewable energy, blockchain security, and securitized digital assets. The company’s prospectus filed with the SEC indicates that the company’s focus is fraud and counterfeit protections for printed documents and digital assets and information. The company also holds multiple technology patents to prevent unauthorized copying and scanning.  Continue reading ›

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