$70 MILLION Recovery for Investment Fraud

$44 MILLION Recovery for Ponzi Scheme Victims

$25 MILLION Recovery Against National Brokerage Firm

$9.1 MILLION FINRA Arbitration Award Against Brokerage Firm

$7.9 MILLION Securities Arbitration Award Against Stockbroker

$1 MILLION Securities Arbitration Award for Elder Financial Fraud

Securities Arbitration Lawyers Blog

FINRA Permanently Bars Texas Broker Joe L Buckner

January 17, 2016 | Silver Law Group

FINRA Permanently Bars Texas Broker Joe L Buckner on silverlaw.com

Buckner can no longer act as a broker or associate with any member of FINRA in any capacity

Joe L. Buckner has been barred by FINRA as of December 2015. As a result of his refusal to respond to the FINRA’s request for information, the Texas broker can no longer associate with any member of FINRA in any capacity.

Buckner’s employment history includes Brazos Securities in Dallas and in his early days, Merrill Lynch, Pierce, Fenner and Smith in New York, New York.

Marc Arena: Hear No Evil, See No Evil Allegations

January 14, 2016 | Silver Law Group

Marc Arena: Hear No Evil, See No Evil Allegations on silverlaw.com

After multiple allegations and failure to supervise, New York broker Marc Arena faces stiff FINRA suspension.

Newport Coast Securities broker Marc Arena has received a suspension from the Financial Industry Regulatory Authority (FINRA) for failing to adequately supervise a member of his FINRA registered firm. He allegedly did not take action to address multiple red flags indicating that a member of his firm was participating in excessive trading, churning, and giving unsuitable recommendations to customers. As the supervisor, it was his responsibility to take reasonable action to address this broker misconduct and ensure that it did not continue to occur. According to FINRA reports, Mr. Arena’s alleged failure to take action resulted in a FINRA suspension for acting in any capacity for 10 days and a suspension for acting in any principal capacity for 23 months ending in October, 2017.

Arena’s history in the securities industry

Silver Law Group Files Class Action Lawsuit Against Cryptsy and Its Principal Paul (“Big Vern”) Vernon

January 13, 2016 | Silver Law Group

Silver Law Group (www.silverlaw.com), along with the law firm of Wites & Kapetan, P.A., has filed a nationwide class action lawsuit in federal court against Florida-based cryptocurrency exchange operator Cryptsy and its principal, Paul (“Big Vern”) Vernon. Over the past several months, numerous Cryptsy account holders have been denied access to their accounts and have been deprived of any ability to properly protect their valuable assets amidst widespread reports of problems at the heart of Cryptsy’s business. While reports have been swirling in multiple media outlets that Cryptsy’s future is greatly troubled and that the company might be under heavy regulatory scrutiny, many Cryptsy account holders have been unable to withdraw any and all forms of currency from their accounts. Despite repeated inquiries to Cryptsy, users are being left without any meaningful response or information from Cryptsy and have had their withdrawal demands either denied or tabbed as “pending” for days, weeks, or even months. Although the exact amount has yet to be calculated, it is believed the value of the digital funds being held captive at Cryptsy exceeds Five Million Dollars ($5,000,000.00).

The class action lawsuit is pending in the United States District Court for the Southern District of Florida under Case No. 9:16-cv-80060. As stated in the lawsuit, the class of victims pursuing relief includes “All Cryptsy account owners who deposited Bitcoins, alternative cryptocurrencies, or any other form of monies or currency at Cryptsy and have been denied access to their accounts and funds between November 1, 2015 and the present date.” The lawsuit asserts claims for negligence, unjust enrichment, conversion of funds and property, and violations of Florida’s Deceptive and Unfair Trade Practices Act.

If you have invested in Bitcoin or any other cryptocurrency and believe you are the victim of a fraud or a theft of your assets, you might have the grounds upon which to assert a claim to recover your losses. Additionally, if you have entrusted your cryptocurrency to Cryptsy or have traded through its web site and feel you have been misled, gather your metadata and contact Silver Law Group to find out what rights may be available to you.

Abern Barred by FINRA for Failing to Cooperate

January 12, 2016 | Silver Law Group

Abern Barred by FINRA for Failing to Cooperate on silverlaw.com

FINRA made a request to meet but Andrew Abern was a no show.

The Financial Industry Regulatory Authority (FINRA) took decisive action in 10/15 against former Dalton Strategic Investment Services broker, Andrew Abern, for failing to cooperate with their investigation. Specifically, Abern did not appear at a scheduled FINRA on-the-record interview. FINRA was investigating allegations that Abern recommended a customer refinance his home and use the proceeds toward the purchase of variable annuities. This ban means that he can no longer have any contact or activity with FINRA firms.

Long history of questionable conduct

FINRA Permanently Bars Broker Richard McGuire for Taking Funds and Forging Signatures

January 10, 2016 | Silver Law Group

FINRA Permanently Bars Broker Richard McGuire for Taking Funds and Forging Signatures on silverlaw.com

Allegations include conversion and elder financial fraud among numerous other unethical acts

FINRA has taken strong action against investment broker Richard McGuire, a long-time broker who was most recently registered with Newport Coast Securities Inc. and Financial West Group, both located in New York.

McGuire has been permanently barred from associating with any FINRA member in any capacity for numerous alleged unethical actions including stealing from his clients, forging signatures, failing to notify his brokerage firms about outside brokerage accounts, and taking advantage of older and unsophisticated clients for his own personal gain.

FINRA Permanently Suspends New York Broker Frederick Monroe for Misappropriating Funds

January 10, 2016 | Silver Law Group

FINRA Permanently Suspends New York Broker Frederick Monroe for Misappropriating Funds on silverlaw.com

Theft of client funds exceeds $1 million in elaborate Ponzi scheme spanning a 20-year career in the securities industry

According to FINRA records, Frederick Monroe, an investment broker based in Albany, NY, has been permanently suspended as a broker and was arrested in June 2015 after being charged with theft of over $1 million dollars in investor funds.

Monroe has been in the investment business for more than 20 years and has been registered with companies including Voya Financial Advisors (2006-2015), Northwestern Mutual Investment Services (1994-2006) and the Robert W. Baird & Company (1994-2002).

Merrill Lynch Broker Permanently Barred After Years of Allegations and Refusal to Respond to FINRA Requests for Information

January 10, 2016 | Silver Law Group

Merrill Lynch Broker Permanently Barred After Years of Allegations and Refusal to Respond to FINRA Requests for Information on silverlaw.com

Michael Highfill has been permanently barred from the securities industry

A former Merrill Lynch broker, Michael Highfill was permanently barred from the securities industry in July of 2015 after 16 years in the industry. His most recent position was with Merrill Lynch in Ridgeland, Mississippi. Before Merrill Lynch, he was a registered broker with Morgan Stanley in Ridgeland, Trustmark Financial Services in Jackson, Mississippi and with J.C. Bradford & Company in New York, New York.

His BrokerCheck report shows that Highfill is the subject of one regulatory sanction and one civil judgment. He was also terminated from Morgan Stanley and Merrill Lynch.

Hugh M. Dyson, Jr. Suspended and Ordered To Pay $740,000 In Restitution

January 10, 2016 | Silver Law Group

Hugh M. Dyson, Jr. Suspended and Ordered To Pay $740,000 In Restitution ON SILVERLAW.COM

Long-time investment broker permanently suspended from any FINRA activity and ordered to pay restitution.

Hugh Monroe Dyson, Jr. was issued a final suspension in August, 2015 and ordered to pay $740,000 (plus interest) in restitution to clients that he solicited to invest in his business, Keypoint Oil, and misrepresented how he used their investments.

FINRA found that over a period of nearly 20 years between 1992-2011, Mr. Dyson solicited more than $740,000 in funds from clients of Ameriprise Financial Services in Raleigh, NC and other former securities customers. He claimed that these investments would be used for oil and gas extraction.

Matthew DiGregorio Suspended After Multiple Client Complaints

January 10, 2016 | Silver Law Group

Matthew DiGregorio Suspended After Multiple Client Complaints on silverlaw.com

Investment broker recently barred by FINRA after multiple complaints from clients

Investment broker Matthew DiGregorio was suspended by the Federal Industry Regulatory Authority in August of 2015. Mr. DiGregorio has had multiple complaints filed against him by prior clients for the following breaches of conduct:

Taking excessive risk with client investments that was not in line with their goals and objectives

Have You Lost Money Investing With Bennett Broad?

January 10, 2016 | Silver Law Group

Have You Lost Money Investing With Bennett Broad? on silverlaw.com

As of August 2015, Broad is permanently barred from the securities industry by FINRA

According to his FINRA BrokerCheck report, Bennett Broad, who worked in the financial industry for more than 30 years, has amassed a 15-year history of allegations against him from clients. The complaints, which total 28, compelled the FINRA to sanction Bennett and permanently bar him from the industry in August of 2015.

While he spent much of his career working as a broker for Oppenheimer and Company in Jenkintown, Pennsylvania, Broad also spent several years working for other firms including UBS Financial Services based in Weehawken, New Jersey and Dean Witter Reynolds based in Purchase, New York.