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Securities Arbitration Attorneys Our FINRA arbitration lawyers work with investors to recover losses caused by securities fraud, investment fraud, and other kinds of stockbroker misconduct.
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Richard Wesselt (a/k/a Rich Wesselt, Richard M Wesselt, CRD#: 2195569), a currently-registered broker with Fortune Financial Services, Inc. (CRD#: 42150) in Collegeville, Pennsylvania, is the subject of 16 disclosures on his publicly-available FINRA BrokerCheck report. Wesselt has been a broker since 1992 and previously worked for The O.N. Equity Sales Company (CRD#: 2936), Stern Agee Financial Services, INC. (CRD#: 18456), American Investment Services, Inc. (CRD#: 21111 expelled), W.S. Griffith & Co., Inc. (CRD# 10410), and PML Securities Company (CRD#: 4082).Richard Wesselt (a/k/a Rich Wesselt, Richard M Wesselt, CRD#: 2195569), a currently-registered broker with Fortune Financial Services, Inc. (CRD#: 42150) in Collegeville, Pennsylvania, is the subject of 16 disclosures on his publicly-available FINRA BrokerCheck report.

Wesselt has been a broker since 1992 and previously worked for The O.N. Equity Sales Company (CRD#: 2936), Stern Agee Financial Services, INC. (CRD#: 18456), American Investment Services, Inc. (CRD#: 21111 expelled), W.S. Griffith & Co., Inc. (CRD# 10410), and PML Securities Company (CRD#: 4082). Continue reading

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The Securities and Exchange Commission (SEC) announced that it obtained a temporary restraining order and filed an emergency enforcement action against Kenneth D. Courtright III and his company, Todays Growth Consultant Inc. The actions by the SEC are related to an alleged “Ponzi-like scheme” that raised more than $75 million from over 500 investors. The Income Store Promised High Returns The SEC’s complaint, unsealed Jan 14, 2020, states that Courtright and Todays Growth Consultant Inc. (TGC), which also did business under the name “The Income Store”, promised investors high rates of return from revenues from websites.The Securities and Exchange Commission (SEC) announced that it obtained a temporary restraining order and filed an emergency enforcement action against Kenneth D. Courtright III and his company, Todays Growth Consultant Inc.

The actions by the SEC are related to an alleged “Ponzi-like scheme” that raised more than $75 million from over 500 investors. Continue reading

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John Howley (John C. Howley) (CRD#: 2229244) is a former broker whose last employer was Park Avenue Securities LLC (CRD#:46173) of Rumson, NY. His previous employer was Guardian Investor Services Corporation (CRD#:6635) of New York, NY.  He has been in the industry since 1995. Howley is the subject of ten disclosures, eight of which are customer disputes. The latest, filed on 5/22/2019, alleges that Howley recommended a fraudulent investment scheme in a company called Global Credit Recovery, causing the client a loss of $250,000. The client has also requested a reimbursement for a whole life insurance policy, because she can no longer afford the premiums after suffering the loss from the fraudulent investment. She is requesting damages of $351,000.00.John Howley (John C. Howley) (CRD#: 2229244) is a former broker whose last employer was Park Avenue Securities LLC (CRD#:46173) of Rumson, NY. His previous employer was Guardian Investor Services Corporation (CRD#:6635) of New York, NY. He has been in the industry since 1995.

Howley is the subject of ten disclosures, eight of which are customer disputes. The latest, filed on 5/22/2019, alleges that Howley recommended a fraudulent investment scheme in a company called Global Credit Recovery, causing the client a loss of $250,000. The client has also requested a reimbursement for a whole life insurance policy, because she can no longer afford the premiums after suffering the loss from the fraudulent investment. She is requesting damages of $351,000.00. Continue reading

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Michael Carter (Michael Barry Carter) (CRD: #3232017) is a former registered broker and investment advisor whose last employer was Morgan Stanley (CRD#: 149777) of McLean, VA.  His previous employers include Ameriprise Financial Services, Inc. (CRD#:6363), Morgan Stanley & Co. Incorporated (CRD#:8209) and Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691), also of McLean, VA. He has been in the industry since 1999. Carter’s record has five disclosures, three of which are customer disputes with settlements totaling $5,199,232.26Michael Carter (Michael Barry Carter) (CRD: #3232017) is a former registered broker and investment advisor whose last employer was Morgan Stanley (CRD#: 149777) of McLean, VA. His previous employers include Ameriprise Financial Services, Inc. (CRD#:6363), Morgan Stanley & Co. Incorporated (CRD#:8209) and Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691), also of McLean, VA. He has been in the industry since 1999.

Carter’s record has five disclosures, three of which are customer disputes with settlements totaling $5,199,232.26: Continue reading

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Stefan Anton Pastor (CRD: #5141819) is a former registered broker and investment advisor whose last employer was Raymond James Financial Services, Inc. (CRD# 6694) of Fort Lauderdale, FL. Pastor was also dually registered with Raymond James and Provenance Wealth Advisors during this period. His previous employers include Walnut Street Securities, Inc. (CRD#:15840), also of Fort Lauderdale, and Ameriprise Financial Services, Inc. (CRD#:6363) of Plantation, FL. He has been in the industry since 2006. After a customer’s complaint of forgery and unauthorized trades to her account and false sales confirmations, both Raymond James Financial and Provenance Wealth Advisors discharged him. The client requested damages in the amount of $38,725.00, and the case was settled for $60,000.Stefan Pastor (Stefan Anton Pastor) (CRD: #5141819) is a former registered broker and investment advisor whose last employer was Raymond James Financial Services, Inc. (CRD# 6694) of Fort Lauderdale, FL. Pastor was also dually registered with Raymond James and Provenance Wealth Advisors during this period. His previous employers include Walnut Street Securities, Inc. (CRD#:15840), also of Fort Lauderdale, and Ameriprise Financial Services, Inc. (CRD#:6363) of Plantation, FL. He has been in the industry since 2006.

After a customer’s complaint of forgery and unauthorized trades to her account and false sales confirmations, both Raymond James Financial and Provenance Wealth Advisors discharged him. The client requested damages in the amount of $38,725.00, and the case was settled for $60,000. Continue reading

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James Thomas Booth Of LPL Financial Barred From Securities Industry For Operating Ponzi Scheme

James Thomas Booth (CRD# 1906145), the founder of Booth Financial Associates and a registered representative with LPL Financial LLC in Norwalk, Connecticut has been permanently barred by the both the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) from acting as a broker or investment adviser or otherwise associating with a broker-dealer or provider of securities and/or investment advice. Prior to joining LPL Financial in 2018, Booth was registered with Invest Financial Corporation. Continue reading

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Roger Owens (CRD# 2359204), a broker previously employed by Cetera Advisors LLC in Elkton, Maryland, has been suspended by the Financial Industry Regulatory Authority (FINRA) from acting as a broker. Owens worked for Cetera for the past decade. Owens began in the industry in 1994. His problems began when he started selling unregistered Woodbridge securities. In 2018, he settled a customer complaint for $45,000 arising out of the sale of Woodbridge Mortgage Investment Funds.  Among the allegations in that complaint were (1) violation of federal and state securities laws, (2) breach of contract and fiduciary duty, (3) common law fraud, and (4) negligence. Unfortunately, this complaint was only the tip of the iceberg.Roger Owens (CRD# 2359204), a broker previously employed by Cetera Advisors LLC in Elkton, Maryland, has been suspended by the Financial Industry Regulatory Authority (FINRA) from acting as a broker. Owens worked for Cetera for the past decade.

Owens began in the industry in 1994. His problems began when he started selling unregistered Woodbridge securities. In 2018, he settled a customer complaint for $45,000 arising out of the sale of Woodbridge Mortgage Investment Funds.  Among the allegations in that complaint were (1) violation of federal and state securities laws, (2) breach of contract and fiduciary duty, (3) common law fraud, and (4) negligence. Unfortunately, this complaint was only the tip of the iceberg. Continue reading

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Ricky Mantei (CRD# 1098981), a broker with Centaurus Financial, Inc. in Lexington, South Carolina is facing nine pending customer disputes as well as two regulatory disputes. Mantei has been with Centaurus since 2015, where he moved from the infamous J.P. Turner & Company, a firm that has since been shut down due to numerous regulatory issues. Previous employers also include Gunnallen Financial, Inc. and First Allied Securities, Inc.Ricky Mantei (CRD# 1098981), a broker with Centaurus Financial, Inc. in Lexington, South Carolina is facing nine pending customer disputes as well as two regulatory disputes. Mantei has been with Centaurus since 2015, where he moved from the infamous J.P. Turner & Company, a firm that has since been shut down due to numerous regulatory issues. Previous employers also include Gunnallen Financial, Inc. and First Allied Securities, Inc. Continue reading

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In the past three years, Robert Douglas Armstrong (CRD# 5236735) (a/k/a R. Douglas Armstrong), a broker with Dawson James Securities, Inc. of Boca Raton, Florida, has settled five customer disputes and is currently facing two additional pending disputes. Prior to joining Dawson James Securities in 2012, Armstrong worked for Aurora Capital LLC and Westpark Capital, Inc.In the past three years, Robert Douglas Armstrong (CRD# 5236735) (a/k/a R. Douglas Armstrong), a broker with Dawson James Securities, Inc. of Boca Raton, Florida, has settled five customer disputes and is currently facing two additional pending disputes. Prior to joining Dawson James Securities in 2012, Armstrong worked for Aurora Capital LLC and Westpark Capital, Inc. Continue reading

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Katherine Greer Nishnic (CRD# 2499553) of Centaurus Financial, Inc. in Lexington, South Carolina, faces seven pending customer disputes, six of which arose this year. Prior to joining Centaurus Financial in 2015, Nishnic worked for First Allied Securities, Gunnallen Financial, Inc., and J.P. Turner & Company, a firm that has since been shut down due to numerous regulatory problems.Katherine Greer Nishnic (CRD# 2499553) of Centaurus Financial, Inc. in Lexington, South Carolina, faces seven pending customer disputes, six of which arose this year. Prior to joining Centaurus Financial in 2015, Nishnic worked for First Allied Securities, Gunnallen Financial, Inc., and J.P. Turner & Company, a firm that has since been shut down due to numerous regulatory problems. Continue reading

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