Securities Arbitration Lawyers Blog

Jenna Connett, Formerly a Broker at Morgan Stanley, Permanently Barred by FINRA

June 16, 2015 | Silver Law Group

Jenna Connett was permanently barred by FINRA for association with any FINRA member in any capacity for failing to respond to FINRA’s request for information. Connett worked at Morgan Stanley in Red Bank, NJ from June 2009 until she was suspended by FINRA in July 2014. Prior to working at Morgan Stanley, Connett worked at Citigroup Global Markets.

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

Josh Abernathy, O.N. Equity Sales Company Broker, Permanently Barred by FINRA

June 16, 2015 | Silver Law Group

A former broker with O.N. Equity Sales Company in Norfolk, Virginia, was permanently barred by FINRA. Josh Abernathy was barred from association in any manner with any FINRA member for failing to provide information requested by FINRA. Abernathy was registered with The O.N. Equity Sales Company from February 2013 until August 2014. Prior to working at O.N., he worked at Next Financial Group and MML Investors Services. Abernathy also owned and controlled his own investment company called Omega Investment Group which he allegedly used to operate a Ponzi scheme.

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

Former Oppenheimer Broker Darrell Raymond Permanently Barred by FINRA for Failing to Provide Information

June 16, 2015 | Silver Law Group

FINRA permanently barred Darrell Raymond after Raymond failing to respond to a request by FINRA for information. Raymond worked at Oppenheimer & Co, Inc. from March 2013 until February 2014. Prior to Oppenheimer, he was at Dinosaur Securities and Next Financial Group.

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

Ameriprise Broker Joel Blum Suspended by FINRA for Unauthorized Trading

June 15, 2015 | Silver Law Group

Joel Blum, currently with Ameriprise Financial Services, was suspended by FINRA for 20 days for a dispute occurring when he was a broker at Merrill Lynch. FINRA found that he executed discretionary transactions in customers’ accounts without written authorization. In addition, it was found that he marked the order tickets for these transactions as unsolicited; when in fact they were solicited. He was also fined $10,000.00 by FINRA. Blum worked at Merrill Lynch from May 2008 until February 2014.

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

Broker Michael Patrick O’Neill Fined and Suspended by FINRA for Impersonating a Former Customer

June 15, 2015 | Silver Law Group

National Securities Corporation broker Michael O’Neill was suspended by FINRA for 20 days and fined $5,000 for impersonating a former customer to assist the customer in obtaining information from a FINRA member firm about the customer’s own account. This was apparently done with the customer’s approval. O’Neill has worked at National Securities Corporation since August 2013. Prior to working at NSC, he was a broker at Brookville Capital Partners.

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

Robert Charles Mangold Permanently Barred by FINRA

June 15, 2015 | Silver Law Group

Allegedly provided false information to FINRA during investigation

For Robert Charles Mangold, it seems it is the end of the line in the securities industry. Most recently employed by and registered with LPL Financial, LLC, Mangold is now permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public by FINRA.

How did this happen? Let’s take a look: In June 2013, LPL Financial, LLC terminated Mangold’s registration because he allegedly borrowed $56,000 from two customers – a violation of firm policy. This prompted FINRA to investigate the circumstances of his termination. As part of the investigation, FINRA requested a signed statement in response to the allegations.

SEC and U.S. Attorney Charge Miami Investment Advisor in Ponzi Scheme Targeting Retired Public Sector Employees

June 11, 2015 | Silver Law Group

The U.S. Securities and Exchange Commission (SEC) and the U.S. Attorney’s Office for the Southern District of Florida have each charged Miami-based investment advisor Phil Donnahue Williamson for his alleged role in a $2,000,000 Ponzi scheme that defrauded hundreds of retired public sector workers, including school teachers and law enforcement agents.

According to the SEC and U.S. Attorney’s Office, Williamson operated his scheme through two businesses — Sterling Investment Fund LLC and Sterling Financial Partners — that allegedly invested in distressed properties in Florida and Georgia. Between 2007 and 2014, Williamson advised the investors that they would be placing their retirement savings in the distressed properties; and he was able to raise more than $2 million. Some of the investors were former clients of Williamson’s, some were referred by a former co-worker of his, and some approached him after he spoke at financial seminars hosted by churches. The investors allegedly wanted to safely invest their funds and keep those funds liquid, which Williamson purportedly said they could do in his “no-risk” investment strategy that would provide them yearly returns of 8 to 12 percent.

As detailed in the SEC’s lawsuit, the investors all agreed to pay Sterling a $25,000 membership subscription and signed documents allowing a trust company to rollover their retirement accounts. Without realizing it, though, the investors also authorized Williamson to deduct advisory fees; and he allegedly utilized that mechanism to siphon nearly $750,000 in fees from the investors. According to reports, Williamson used the stolen funds to pay for his children’s school tuition, his mortgage, car payments, and to fund his other businesses along with making supposed distribution returns to investors.

Broker Charles D. Johnson Permanently Barred by FINRA

June 9, 2015 | Silver Law Group

His career in securities ends with failure to respond to FINRA request

After only six years in the securities industry, broker Charles Damien Johnson has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. According to the FINRA BrokerCheck website, Johnson failed to respond to a FINRA request for information and was sent a notice of suspension in August of 2014. Since he then failed to request termination of his suspension within three months of the date of notice of his suspension, he was automatically barred from association with any FINRA member in any capacity as of November 10, 2014.

During his career in the industry, Johnson nonetheless worked for at least 10 investment firms in the New York state area. His dates of employment and employers are listed below:

Employment Dates	Employer Name	Employer Location
01/2013 – Present	Laidlaw & Co (UK) Ltd	Melville, NY
06/2012 – 12/2012	Global Arena Capital Corp	New York, NY
07/2010 – 06/2012	National Securities Corp	Huntington, NY
07/2009 – 07/2010	New Castle Financial Services, LLC	Melville, NY
09/2008 – 07/2009	Morgan Wilshire Securities, Inc.	Westbury, NY
10/2007 – 09/2008	National Securities Corp	Huntington, NY
07/2007 – 10/2007	EKN Financial Services, Inc.National Securities Corp	Woodbury, NY
11/2006 – 02/2007	Morgan Wilshire	Woodbury, NY
11/2006 – 02/2007	SW Bach & Co	Port Washington, NY
01/1997 – 10/2006	Argo Financial	Melville, NY

While moving from firm to firm seems to have been voluntary, Johnson’s employment with Global Arena Capital Corp was terminated on December 12, 2012 for “circumvention of firm policy” according to the FINRA BrokerCheck website.

Why are we telling you all of this?

To let you know that, if you’re an investor who suffered financial losses at the hands of Charles D. Johnson, or any other financial advisor, you may be eligible to recover your losses through securities arbitration. The key is to turn to the right securities fraud attorney with proven expertise in recovering lost funds.

At Silver Law Group you’ll find an experienced securities attorney committed to help recover investment losses due to stockbroker misconduct. With lawyers admitted to practice in New York and Florida – representing investors nationwide – you can expect a complimentary consultation and a case handled on a contingent fee basis, meaning you don’t pay legal fees unless Silver Law Group is successful. Contact us today to schedule your free consultation and discuss your legal rights.

New York Broker Raymond Thomas Clark Permanently Barred by FINRA

June 9, 2015 | Silver Law Group

Broker Raymond Thomas Clark (CRD# 3120696) was permanently barred by FINRA for failing to appear for FINRA-requested on-the-record testimony related to an investigation into whether he executed excessive and/or unauthorized transactions in customer accounts, exercised discretion without authorization, and accepted trade instructions from an individual who was not authorized to exercise trading authority in a customer account.

Clark first became a registered securities broker in 1998 and was employed by the following broker-dealers from 1998- 2014: Global Capital Markets, LLC (Melville, NY), Global Capital Securities Corp. (Englewood, CO), J.P. Turner and Co., LLC (Atlanta, GA), Bathgate Capital Partners LLC (Buffalo, NY), J.P. Turner and Co., LLC (Buffalo, NY), Paulson Investment Co., Inc. (Buffalo, NY), First Midwest Securities, Inc. (Buffalo, NY), and Dynasty Capital Partners, Inc. (Buffalo, NY).

In 2011 and 2014, Clark was suspended for using his personal email account to communicate with customers regarding business-related matters, in violation of FINRA rules and the firm’s procedures. Investors should be weary when their broker uses a personal email account to communicate with them. In many cases, the broker is doing so in order to circumvent FINRA rules and to hide illegal activities from his employer. This was the case with Clark, who by using his personal email account, bypassed the firm’s supervisory review of emails and caused the firm to fail to preserve required records, as well as not reporting a customer’s complaint concerning overcharging of commissions.

Homer Vining, Former J.P. Turner Broker Suspended by FINRA for Failure to Pay an Arbitration Award

June 9, 2015 | Silver Law Group

Homer Vining was suspended by FINRA for failing to pay an arbitration award in a dispute with his former employer, Ameriprise Advisor Services, Inc. Vining allegedly failed to repay a promissory note to Ameriprise upon termination of his employment in 2008. Vining worked at J.P. Turner & Company, LLC from 2009 through March 2015.

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