A National Securities Arbitration & Investment Fraud Law Firm
Former broker James Albert Pettit (CRD #733916), formerly of Ameriprise Financial Services, Inc. (CRD #6363), was barred by FINRA on 3/26/2018. This is the result of failing to comply with an arbitration award, and providing proof of the compliance. The bar is indefinite, and in all capacities until the award is paid.
Pettit is the subject of two FINRA regulatory actions and one by the state of Connecticut.
Pettit’s former employers include:
Matthew Evan Eckstein (CRD #2997245) was a registered broker with Sisk Investment Services, Inc. (CRD #19406) of Syossett, NY. He has been with Sisk since 2015. Eckstein was previously employed by Gould, Ambroson & Associates Ltd. (CRD #17412) of Garden City, NY. Our New York securities arbitration lawyers are representing investors in claims against Eckstein’s former employers.
Eckstein is currently the subject of a FINRA disciplinary complaint, filed on 04/27/2018. Multiple fraud allegations against Eckstein were filed by four of his customers. The facts of the case, based on FINRA records, include:
On June 19, 2018, the Securities and Exchange Commission (the “SEC”) shut down a $102 million Ponzi scheme and charged five (5) individuals and three (3) businesses with various securities laws violations.
The massive Ponzi scheme’s alleged orchestrators were all formerly registered with FINRA and employed by FINRA-registered firms, according to the SEC complaint. The following individuals were named in the SEC’s complaint:
The SEC has shut down a $102 Million Ponzi Scheme that was defrauding investors in several states. The complaint that was filed in federal district court in Manhattan charges Perry Santillo from Rochester, New York, Christopher Parris from Rochester, New York, Paul LaRocco from Ocala, Florida, John Piccarreto from San Antonio, Texas, and Thomas Brenner from Orville, Ohio. These brokers are said to have defrauded over 600 investors through sales of securities in issuers that they controlled including the following: First Nationle Solution LLC, United RL Capital Services, and Percipience Global Corp. If you or someone you know lost their investment by investing with one of these brokers and/or companies, then it is highly recommended to speak to an attorney in order to assess your potential legal options to recover your investment capital.
New research suggests a new reason for the trust seniors place in others
Researchers have long been interested in finding out why the elderly tend to fall for scams more easily than the rest of the population. While cognitive decline and diseases such as Alzheimer’s and dementia have been considered the main culprits in this equation, new research shows another contributor.
As we age, we lose some of our “gut instincts”
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.
Silver Law Group is investigating former Illinois-based Transamerica Financial Advisors, Inc. broker Robert Perta (CRD# 536528) after a customer filed a claim alleging over $4.2 million in damages.
The complaint, filed in the Federal Court in December 2017, alleges that Perta was involved with a scheme to misappropriate investor money by FINRA-barred broker Daniel Glick (CRD# 2175655). Glick, also formerly employed by Transamerica Financial Advisors, allegedly solicited money from investors into his businesses so he could steal money from his customers. Glick allegedly stole the money and covered it up by lying to his customers and, in some cases, manufacturing false account statements. Across all plaintiffs, the complaint alleges approximately $6.5 million in damages.
In January 2018, the SEC reported that Glick pled guilty to one count of wire fraud in the criminal case against him. According to the plea agreement, from at least 2011 through at least 2017, Glick engaged in a fraudulent scheme to benefit himself by defrauding his clients.
Silver Law Group is investigating Wellington, Florida-based Raymond James Financial Services, Inc. (“Raymond James”) broker Victor T. Connor (CRD# 843521).
According to Connor’s FINRA BrokerCheck report, in September 2017, a Raymond James customer brought a FINRA arbitration alleging unsuitable recommendations, negligent misrepresentation, breach of contract, negligence, and failure to supervise. The complaint alleges approximately $325,000 in damages.
Victor T. Connor’s History in the Industry
Silver Law Group is investigating former Coconut Creek, Florida-based LPL Financial broker Pedro O. Diaz (CRD# 4877003) after LPL Financial discharged him for short-term trading in mutual funds. Short-term trading in mutual funds, according to Diaz’s FINRA BrokerCheck report, a violation of LPL Financial’s policies.
LPL Financial had employed Diaz since March 2010 and terminated him in December 2017. Now, Newbridge Securities Corporation employs Diaz at its Boca Raton, Florida branch.
Diaz, who has been in the securities industry at South Florida brokerage firms for 12 years, also is an insurance agent. Diaz sells fixed annuities and spends 10 percent of his time doing so.
Silver Law Group is investigating former Colorado Springs, Colorado-based LPL Financial LLC broker Sonya Camarco (CRD# 2427529) after FINRA permanently barred her from the industry.
According to Camarco’s FINRA BrokerCheck report, FINRA barred Camarco in September 2017 after she failed to respond to its inquiry for information.
Sonya Camarco’s Employment with LPL Financial
Securities Arbitration Lawyers Blog