Securities Arbitration Lawyers Blog

FINRA Suspends Individuals in April 2016 for Failure to Comply with FINRA Rules

April 21, 2016 | Silver Law Group

According to FINRA Disciplinary actions for April 2016, 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
Russell Andrew Carbonara	Pinebridge Securities, LLC
	Aria Capital Advisors, LLC
Roger Briggs Coe, Jr.	Gate US, LLC
	Zealous Capital Markets, LLC
Jerrid Jemal Douglas	Barclays Capital Inc.
	Citigroup Global Markets, Inc.
Terry Lee Haggerty	Penvest Securities, Inc.
	BB Graham & Company, Inc.
Mark David Holt	Harbour Investments, Inc.
	Geneos Wealth Management, Inc.
Pil Sang Hwang	Wells Fargo Advisors, LLC
	Phillips & Company Securities
Robert John Matarazzo, Jr.	Waddell & Reed, Inc.
	New England Securities
James Kenneth Maurice	Wachovia Securities, LLC
	A.G. Edwards & Sons, Inc.
Bahram Mirhashemi	Accelerated Capital Group
	Ameriprise Financial Services, Inc.
Charles J. Moore	Achilles Securities, LLC
	Crucible Capital Group, Inc.
Joshua James Nanci	Foreside Fund Services, LLC
	Aria Capital Advisors, LLC

Silver Law Group represents investors in securities and investment fraud cases through FINRA arbitration or court. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide in securities arbitration 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 Suspends Registered Individuals for Violations of FINRA Rules in April 2016

April 21, 2016 | Silver Law Group

According to FINRA Disciplinary actions for April 2016, the following individuals were suspended 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
Jonathan Arroyo	J.P. Morgan Securities, LLC
Matthew C. Ashton	Merrill Lynch, Pierce, Fenner & Smith, Inc.
Vladimir Belyaev	Avenir Financial Group
Vladimir Belyaev	Coastal Equities, Inc.
Ho Choong Chung	J.P. Morgan Securities, LLC
Ho Choong Chung	Key Investment Services, LLC
Anthony S. Curcio	J.P. Morgan Clearing Corp
George Jay Dobbins	Edward D. Jones & Co., L.P.
Robert Blake Ellender	Invesco Distributors, Inc.
Robert Blake Ellender	John Hancock Funds, LLC
Tameika Andrea Frinks	J.P. Morgan Securities, LLC
William Lee Hutchinson	IFS Securities
William Lee Hutchinson	J.P. Turner & Company, LLC
Chad Lewis Jackson	J.P. Morgan Securities, LLC
Daniel Seunghun Lee	NYLife Securities, LLC
Janice Jean Ling
Charles Little	PFS Investments Inc.
Matthew R. Mizera	Fifth Third Securities, Inc.
Matthew R. Mizera	Chase Investment Services Corp.
Lindsey brooke Nelan
Charles Holman Phelps	Allstate Financial Services, LLC
Charles Holman Phelps	Edward Jones
Tanvir M. Shah
Michael Taylor Shuttlesworth	Crown Capital Securities, LP
Michael Taylor Shuttlesworth	LPL Financial Corporation
Mark Francis Speakman	Ameriprise Financial Services, Inc.
Mark Francis Speakman	IDS Life Insurance Company
Thomas Suarez	Rockwell Global Capital LLC
Thomas Suarez	Laidlaw & Co (UK) Ltd.
Christopher George Taylor	Purshe Kaplan Sterling Investments
Christopher George Taylor	Hightower Financial Partners
Sheena Anne Toney	J.P. Morgan Securities, LLC
Sheena Anne Toney	Chase Investment Services Corp.

Silver Law Group represents investors in securities and investment fraud cases through FINRA arbitration or court. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide in securities arbitration 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 Panel Orders Morgan Stanley to Pay $34 million for Exploiting an Elderly Florida Man

April 13, 2016 | Silver Law Group

The Financial Industry Regulatory Authority (the “FINRA”) awarded more than $34 million on March 18, 2016 to the estate of former Home Shopping Network chief Roy M. Speer in its claim against Morgan Stanley for churning the late Mr. Speer’s account.

The all-public arbitration panel ruled that Morgan Stanley, broker Ami Forte and branch manager Terry McCoy were jointly liable for violating Florida elder exploitation laws, unauthorized trading, breach of fiduciary duty/constructive fraud, negligence, negligent supervision and unjust enrichment.

The panel awarded $32.8 million in compensatory damages to Lynnda Speer, Mr. Speer’s widow and representative of the estate, and $1.5 million to reimburse costs incurred during the arbitration process. Additionally, Ms. Speer will seek to recover potentially millions in attorney’s fees in Florida court, according to an InvestmentNews article.

Plot Thickens in Aequitas Saga; Investors File Suit Against Tonkon Torp, Deloitte

April 9, 2016 | Silver Law Group

Aequitas Capital Management investors filed a class action lawsuit on April 4, 2016 against Portland law firms Tonkon Torp and Sidley Austin and the accounting firms Deloitte & Touche and EisnerAmper, claiming the firms enabled the massive Ponzi scheme.

The April complaint (the “Complaint”) has been brought on the heels of a complaint the Securities and Exchange Commission (“SEC”) filed against Oregon-based Aequitas and its principals in March. Silver Law Group is currently investigating claims against Aequitas and Registered Investment Advisor (“RIAs”) firms with respect to possible violations of federal securities.

The Complaint alleges that the aforementioned firms are responsible to pay for the investors losses because they aided in the unlawful sales of Aequitas securities after Aequitas made numerous “extensive and pervasive” misrepresentations.

Silver Law Group Investigates CONCERT Wealth Management, Summit Advisor Solutions, Private Advisory Group and other RIAs who Sold Aequitas Securities Amidst SEC Allegations of it Running a “Ponzi-like” Scheme

April 8, 2016 | Silver Law Group

Silver Law Group is investigating numerous registered investment advisors (“RIAs”) connected to Oregon-based Aequitas Management, LLC’s (“Aequitas”) “Ponzi-like” scheme and $350 million of investor losses.

On March 10, 2016, the Securities and Exchange Commission (“SEC”) filed a complaint against Aequitas and its various subsidiaries, which Silver Law Group recently released here (insert hyperlink). The complaint’s most damning allegations include Aequitas defrauded over 1,500 investors nationwide between Jan. 2014 and Jan. 2016 of more than $350 million as a last-ditch effort to raise funds to save it from complete financial collapse. This “Ponzi-like” scheme defrauded investors while the most senior executives used the investments to fund their lucrative salaries and extravagant company perks, according to the complaint.

Amidst further research, Silver Law Group has discovered that numerous RIAs have been connected with the fraudulent Aequitas, including:

Aequitas Business Partner Corinthian Colleges Ordered to Pay Over $1 Billion for Misleading Students

April 7, 2016 | Silver Law Group

A California judge ordered the now-defunct Corinthian Colleges Inc. (“Corinthian”), business partner of Aequitas Capital Management (“Aequitas”), to pay $1 billion over claims the company misled students and investors on March 25, 2016.

This comes two weeks after the Securities and Exchange Commission (“SEC”) charged Oregon-based Aequitas with operating a “Ponzi-like” scheme. Silver Law Group is currently investigating claims against Aequitas and Registered Investment Advisor (“RIAs”) firms with respect to possible violations of federal securities.

Corinthian filed for bankruptcy on May 2015 and is unlikely to pay the $1 billion in civil penalties and damages to affected students, but the ruling has paved the way for the U.S. Department of Education to declare that loans issued to attend Corinthian can be forgiven.

FINRA Suspends Individuals in March 2016 for Failing to Comply with FINRA Rules

March 30, 2016 | Silver Law Group

According to FINRA Disciplinary actions for March 2016, 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
Woodley Hannon Bagwell, Jr.	Raymond James & Associates, Inc.
	Morgan Keegan & Company, Inc.
Steven Lloyd Colvin	Wells Fargo Advisors, LLC
	Merrill Lynch, Pierce, Fenner & Smith Inc.
William Braden Crumrine III	American Portfolios Financial Services, Inc.
	Mid Atlantic Capital Corporation
Robert Gail Dull	Securities America, Inc.
	Suntrust Investment Services, Inc.
William Lawrence Eisner	Ameriprise Financial Services, Inc.
	UBS Financial Services, Inc.
John Scot Galinsky	Fintegra, LLC
	Advanced Equities, Inc.
Christos Angelo Kalatoudis	Worden Capital Management LLC
	National Securities Corporation
John Gerald Muir IV	Aegis Capital Corp.
	Chelsea Financial Services
Patrick Steven Nelson	Steven L. Falk & Associates, Inc.
	White Pacific Securities, Inc.
Michael Luciano Spinali	Morgan Stanley
	Edward Jones
Henry Edward Wasserman III	Ameriprise Financial Services, Inc.
	Morgan Stanley Smith Barney
Jeffrey Lee Whitaker	Capital Wealth Planning, LLC
	Wells Fargo Advisors, LLC

Silver Law Group represents investors in securities and investment fraud cases through FINRA arbitration or court. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide in securities arbitration 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 Suspends Registered Individuals for Violations of FINRA Rules in March 2016

March 30, 2016 | Silver Law Group

According to FINRA Disciplinary actions for March 2016, the following individuals were suspended 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
Randy Lamar Alford	Southeast Investments, N.C. Inc.
Randy Lamar Alford	Saxony Securities, Inc.
Kamran Azim	The Huntington Investment Company
Kenneth Martin Dlouhy	Catone Research Inc.
Kenneth Martin Dlouhy	Aegis Capital Corp.
Wensi Guzman	Transamerica Financial Advisors, Inc.
Wensi Guzman	World Group Securities, Inc.
Michael Winston Hefner	FBL Marketing Services, LLC
Michael Winston Hefner	Equitrust Marketing Serv LLC
Kristal Lee Johnson	Fifth Third Securities, Inc.
Kristal Lee Johnson	State Farm VP Management Corp.
Elizabeth Ann Monge	Lincoln Financial Advisors Corp.
Elizabeth Ann Monge	Valic Financial Advisors, Inc.
Kayla Arlene Paul-Lindsey	Park Avenue Securities LLC
Kayla Arlene Paul-Lindsey	MML Investors Services, LLC
Carmie Lynn Shifflett	Citigroup Global Markets Inc.
Carmie Lynn Shifflett	Citicorp Investment Services
Renate Barbel Sterrett	LPL Financial LLC
Renate Barbel Sterrett	Investacorp, Inc.
Vladimir Tingue	Scottrade, Inc.
Vladimir Tingue	J.P. Morgan Securities LLC
Valinda Kay Turner
Kenya Julissa Zavala	J.P. Morgan Securities LLC
Kenya Julissa Zavala	Chase Investment Services Corp.

Silver Law Group represents investors in securities and investment fraud cases through FINRA arbitration or court. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide in securities arbitration 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 Bars Registered Individuals in March 2016 for Failure to Comply with FINRA Rules

March 30, 2016 | Silver Law Group

According to FINRA Disciplinary actions for March 2016, 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
Raymond Francis Aleksey	Wells Fargo Advisors, LLC
Raymond Francis Aleksey	Merrill Lynch, Pierce, Fenner & Smith, Inc.
Tiffany Dawn Bee
Toby Blackwood	PFS Investments Inc.
Toby Blackwood	Primerica Financial Services
Angela K. Blaylock	Merrill Lynch, Pierce, Fenner & Smith Inc.
Benjamin Jon Brown	State Farm VP Management Corp.
Benjamin Jon Brown	American Express Financial Advisors, Inc.
Thomas Anthony Cammarano	LPL Financial LLC
Thomas Anthony Cammarano	Associated Securities Corp.
Brian Andrew Dunn	Robert W. Baird & Co. Inc
Brian Andrew Dunn	Citigroup Global Markets, Inc.
Susan Ann Ericson	UBS Financial Services, Inc.
Jose L. Espinoza	J.P. Morgan Securities LLC
Jose L. Espinoza	Chase Investment Services Corp
Craig Steven Ferraro	J.P. Morgan Securities LLC
Craig Steven Ferraro	Chase Investment Services Corp
Michael W. Finn	Merrill Lynch, Pierce, Fenner & Smith, Inc
Robert Joseph Gray	Allstate Financial Services, LLC
Kyle Brockman Greene	J.P. Morgan Securities LLC
Larry Phillip Harvey, Jr.	J.P. Morgan Securities LLC
Larry Phillip Harvey, Jr.	Chase Investment Services Corp
Christopher Hermiz	J.P. Morgan Securities LLC
Andy Edgar Hernandez	J.P. Morgan Securities LLC
Andy Edgar Hernandez	Chase Investment Services Corp
Steve Everett Hinrichs	State Farm VP Management Corp.
Richard Allen Isgrig	Northwestern Mutual Investment Services, LLC
Richard Allen Isgrig	Robert W. Baird & Co. Inc.
Brian Grayson Kidder	High Point Capital Group, Inc.
Brian Grayson Kidder	Delaney Equity Group, Inc.
Matthew Lawrence Lalonde	Buckman, Buckman & Reid, Inc.
Matthew Lawrence Lalonde	LPL Financial LLC
Kathleen Mary Loney	LPL Financial LLC
Kathleen Mary Loney	Mutual Service Corporation
James Joseph McCarron III	J.P. Turner & Company, LLC
James Joseph McCarron III	QA3 Financial Corp.
Brett James McCollough	Hancock Investment Services, Inc.
Brett James McCollough	Multi-Financial Securities Corp
Marco A. Mendoza	J.P. Morgan Securities LLC
Marco A. Mendoza	Chase Investment Services Corp
Vincent Joseph Menello, Jr.
Jason Scott Miller	J.P. Morgan Securities LLC
Jason Scott Miller	Chase Investment Services Corp
Darlene Byrd Page	Morgan Stanley
Darlene Byrd Page	UVest Financial Services Group, Ic.
Christopher A. Parris	Nationwide Securities, Inc.
Christopher A. Parris	The Lucian Group
Benjamin John Pritchett	Wells Fargo Advisors, LLC
Benjamin John Pritchett	Investors Capital Corp.
Francis Anthony Jason Punsalan	J.P. Morgan Securities LLC
Ebony C. Ranson
Toni Leynett Robertson	Caprock Securities, Inc.
Toni Leynett Robertson	Investment Professionals, Inc.
Marguerite A. Sanders	J.P. Morgan Securities LLC
Marguerite A. Sanders	Chase Investment Services Corp
John Larry Simpson	Princor Financial Services Corp
John Larry Simpson	Avalon Investment & Securities Group, Inc.
Robert Jay Snider	Thrivent Investment Management Inc.
Leonard Toth	Pruco Securities, LLC
Edward Francis Vincent	LPL Financial LLC
Edward Francis Vincent	UBS Financial Services Inc.
Jean Ann Walsh-Josephson	Thrivent Investment Mangement Inc.
Robin Michelle Wolfgram	Cetera Advisors LLC
Robin Michelle Wolfgram	Foothill Securities, Inc.
Jamie Reid Zimmerman

Silver Law Group represents investors in securities and investment fraud cases through FINRA arbitration or court. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide in securities arbitration 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.

SEC Charges Mark A. Jones with Operating $10 Million Ponzi Scheme that Claimed to Offer Loans to Jamaican Businesses

March 28, 2016 | Silver Law Group

The U.S. Securities and Exchange Commission (SEC) has charged former Boston resident, and current Miami resident, Mark A. Jones with operating a $10 million Ponzi scheme that claimed to generate profits from “bridge loans” to Jamaican businesses.

According to the SEC’s Complaint — filed earlier this month in federal court in Boston — Mr. Jones began soliciting investors in 2007 and said their money would be pooled and used for “bridge loans” to Jamaican businesses awaiting funds from approved commercial bank loans. Mr. Jones purportedly told the investors that the loans would generate approximately 15 to 20 percent interest each year. He appeared in YouTube videos promoting investment opportunities in Jamaica and even met with some investors in Jamaica to show them local projects in which their funds were purportedly invested. Contrary to those representations, though, the SEC alleges that Mr. Jones was actually using investors’ money to pay other investors — the hallmark of a Ponzi scheme. In addition, Mr. Jones is alleged to have used some of the invested funds for his own personal use. In all, Mr. Jones raised about $10 million from at least 21 investors in several states and Washington, D.C., including some of his own relatives. Targeting investors from the same community or religious group is generally referred to as affinity fraud.

The SEC has obtained a Court order freezing Mr. Jones’ assets and an order to repatriate investor funds that were moved overseas. In addition, the SEC is seeking a permanent injunction, return of allegedly ill-gotten gains with interest, and other monetary penalties. Mr. Jones is also being criminally prosecuted by the U.S. Attorney for the District of Massachusetts for his actions.