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Narith Long (CRD# 6598152) is a previously registered broker whose last known employer was NY Life Securities LLC (CRD#:5167) of Glendale, CA. He was previously employed with Northwestern Mutual Investment Services, LLC (CRD#:2881) of Long Beach, CA, where he began his career in the industry in 2018. New York Life Securities terminated Long’s employment on December 1st, 2020. The company terminated him for engaging in unauthorized securities transactions. This activity included recommending to his customers that they open brokerage accounts with a separate, non-affiliated firm. Once the clients opened these brokerage accounts, Long went in using their login information and traded securities that were held in these non-firm accounts. FINRA requested information from Long, which he failed to provide. Therefore, FINRA issued notices of Suspension and Suspension from Association letters on September 1st, 2021, and September 27, 2021. Long then failed to request termination of his suspension within three months of the. Notice of Suspension. As of December 6th, 2021, Narith Long is now permanently barred from any association with FINRA members in all capacities.Narith Long (CRD# 6598152) is a previously registered broker whose last known employer was NY Life Securities LLC (CRD#:5167) of Glendale, CA. He was previously employed with Northwestern Mutual Investment Services, LLC (CRD#:2881) of Long Beach, CA, where he began his career in the industry in 2018. Continue reading ›

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Todd Kling (Todd Franklin Kling CRD# 3034284) is a currently registered broker and investment advisor employed with Joseph Stone Capital L.L.C. (CRD#: 159744) in New York, NY. His previous employers include Royal Alliance Associates, Inc. (CRD#:23131), First Midwest Securities, Inc. (CRD#:21786), and FMSI Advisers (CRD#:21786), also of New York, NY. His first employer, First Republic Group, LLC (CRD#: 39781), was expelled by FINRA on 9/23/2009. He has been in the industry since 1999. According to a FINRA disciplinary action dated 12/17/2021, Kling was found to have excessively and unsuitably traded one customer's account. This particular client was not only a retired psychiatrist but also a senior investor. Between March 2018 and November 2019, Kling recommended that the client place a total of 115 trades in his account. The client accepted Kling’s recommendations and made the trades. The customer’s account had an average month end equity of $5,414,465, resulting in an annualized turnover rate of more than 12. The trades recommended by Kling caused this customer to pay commissions, trading costs and margin interests that totaled $153,879.00. This trading resulted in an annualized cost to equity ratio of more than 35%. For the client to break even, the customer’s account would have had to grow by more than 35% annually just to reach the “break-even point.”Todd Kling (Todd Franklin Kling CRD# 3034284) is a currently registered broker and investment advisor employed with Joseph Stone Capital L.L.C. (CRD#: 159744) in New York, NY. His previous employers include Royal Alliance Associates, Inc. (CRD#:23131), First Midwest Securities, Inc. (CRD#:21786), and FMSI Advisers (CRD#:21786), also of New York, NY. His first employer, First Republic Group, LLC (CRD#: 39781), was expelled by FINRA on 9/23/2009. He has been in the industry since 1999. Continue reading ›

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Joseph Fedorko (Joseph Michael Fedorko CRD#] 2007317) is a previously registered broker whose last known employer was Laidlaw & Company (UK) LTD. (CRD#:119037) of Greenwich, CT. His previous employers include Oppenheimer & Co. Inc. (CRD#:249) of Stamford, CT, Josephthal & Co., Inc. (CRD#:3227) and Gruntal & Co., L.L.C. (CRD#:372), both of New York, NY. He has been in the industry since 1989. Fedorko has a total of 19 disclosures dating back to 1995. However, the most recent disclosure is from FINRA, after he excessively traded in the account a married senior couple from January 1, 2014, to December 31, 2019. He exercised de facto control over the couple’s account, and the couple trusted his recommendations. During this period, Fedorko and his firm (Laidlaw) exercised more than 1,200 transactions in the customers’ account. This excess trading led to losses of approximately $1.1 million, known as “churning.” However, the trading also generated $760,000 in commissions and markups for the firm, with Fedorko receiving 25% of the commissions and markups. After the customers filed a claim, the firm reimbursed them for their losses and closed their arbitration.Joseph Fedorko (Joseph Michael Fedorko CRD#] 2007317) is a previously registered broker whose last known employer was Laidlaw & Company (UK) LTD. (CRD#:119037) of Greenwich, CT. His previous employers include Oppenheimer & Co. Inc. (CRD#:249) of Stamford, CT, Josephthal & Co., Inc. (CRD#:3227) and Gruntal & Co., L.L.C. (CRD#:372), both of New York, NY. He has been in the industry since 1989. Continue reading ›

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Wealthy Russians are attempting to get their money out of the country are spending their cash on valuable assets to bypass U.S. sanctions against the country. Following the invasion of Ukraine, The US and other countries issued multiple sanctions against Russia. Many of these are economic sanctions intended to stifle the Russian economy and pressure Russia. One of the most prominent sanctions is the freezing of trillions of dollars in Russian assets. The intent is to stop Russian elites and their family members from moving money out of Russia by way of investment purchases. Additionally, the US. imposed additional sanctions against President Putin and Russia's former minister, Sergey Lavrov. On February 26th, the Biden administration and many allies announced the removal of some Russian banks from the SWIFT financial messaging system. This stopped them from conducting international transactions. The sanctions added new restrictions on Russia's Central Bank to prevent it from using its international reserves to bypass the sanctions. Several allied countries agreed to these actions. The Central Bank has continued to stockpile foreign reserves since 2014, when Russia invaded Crimea.Wealthy Russians are attempting to get their money out of the country are spending their cash on valuable assets to bypass U.S. sanctions against the country.

Following the invasion of Ukraine, The US and other countries issued multiple sanctions against Russia. Many of these are economic sanctions intended to stifle the Russian economy and pressure Russia. Continue reading ›

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New York U.S. District Judge Laura T. Swain has ordered Marker Therapeutics to pay $2.5 million to Katalyst Securities, a brokerage that helped place their securities with their own investor-customers as a private placement in 2017. Additionally, Judge Swain also ordered Marker to pay about $120,000 in prejudgment interest. The company signed a contract with Katalyst for two private placements in 2016 and 2017, establishing a placement agency to offer these placements to the investor-customers in exchange for fees and warrants to buy shares of Marker's stock. A one-year “tail period” and additional compensation was included in the contract for Katalyst if they brought in more investors and completed financing during that period. Marker later hired two other companies in 2018 for the same type of work. Katalyst accused Marker of securing financing for investors that were introduced to Marker by Katalyst during the tail period. In a motion filed by Maker, the company claimed that Katalyst had already been paid and the tail period had expired. Katalyst also sent Marker a proposed modification to the remaining agreement to continue the tail period and include the 2018 offering. Maker declined, stating that the 2018 offering was outside of Katalyst’s one-year tail period. Therefore, Katalyst wasn’t eligible to receive to any more of the offerings. Katalyst then began the process for arbitration, according to Maker.New York U.S. District Judge Laura T. Swain has ordered Marker Therapeutics to pay $2.5 million to Katalyst Securities, a brokerage that helped place their securities with their own investor-customers as a private placement in 2017. Additionally, Judge Swain also ordered Marker to pay about $120,000 in prejudgment interest. Continue reading ›

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Mario Rivero Jr. (Mario Everildo Rivero Jr., CRD# 5856503), 38, is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Red Bank, NJ. His only prior industry employment was with Wells-Fargo Clearing Services, LLC (CRD#:19616) of Elizabeth, NJ.  He has been in the industry since 2010. After a FINRA investigation and two sets of charges, he has been arrested in two separate cases. The FINRA Investigation And Ban Rivero has only one disclosure in his FINRA record that involves a similar investigation, leading to his indefinite and permanent bar from the securities industry. Rivero was a broker and investment advisor at Wells Fargo for a total of nine years, then resigned to join LPL Financial. Wells Fargo originally filed a Form U5 termination form stating that Rivero had voluntarily resigned. However, Wells Fargo amended the Form U5 on April 22nd, 2021. After his move to LPL, Wells Fargo received complaints from two of Rivera's customers, indicating that he may have misappropriated some of their funds. Rivero remained registered with LPL until 06/04/2021. FINRA then began an investigation, which included requesting documents and information from Rivero regarding this matter. FINRA made the request on May 3rd, 2021. In a phone call on May 18th, 2021, with FINRA staff, Rivero's legal counsel acknowledged the receipt of FINRA’s requests, but declined to produce any information or documentation requested at any time. By doing so, Rivero violated several of FINRA’s rules, leading to sanctioning. This sanction included a permanent bar from associating with any FINRA member in all capacities. Rivero signed a letter of Acceptance Waiver And Consent (AWC), and the bar became final on June 4th, 2021.Mario Rivero Jr. (Mario Everildo Rivero Jr., CRD# 5856503), 38, is a former registered broker and investment advisor whose last known employer was LPL Financial LLC (CRD#:6413) of Red Bank, NJ. His only prior industry employment was with Wells-Fargo Clearing Services, LLC (CRD#:19616) of Elizabeth, NJ.  He has been in the industry since 2010.

After a FINRA investigation and two sets of charges, he has been arrested in two separate cases. Continue reading ›

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Marc Korsch (Marc Frederick Korsch, CRD#5525226) is a currently registered broker and investment advisor employed with Arkadios Capital (CRD#: 282710) of Sarasota, FL. His previous employers include Centaurus Financial, Inc. (CRD#:30833) and Trustmont Financial Group, Inc. (CRD#:18312) both of Sarasota, and Capital Financial Services, Inc. (CRD#:8408), of Port Charlotte, FL. He has been in the industry since 2009. A client filed a dispute on 10/29/2020 alleging that from July 2014 to the current date, Marc Korsch breached his fiduciary duty by investing their funds into high-risk investments that were unsuitable for their portfolio. The client requests damages of $100,000. Korsch denies the allegations and will defend the matter. The dispute is currently listed as “pending.”

Marc Korsch (Marc Frederick Korsch, CRD# 5525226) is a currently registered broker and investment advisor whose last known employer was Arkadios Capital (CRD#: 282710) of Sarasota, FL. His previous employers include Centaurus Financial, Inc. (CRD#:30833) and Trustmont Financial Group, Inc. (CRD#:18312) both of Sarasota, and Capital Financial Services, Inc. (CRD#:8408), of Port Charlotte, FL. He has been in the industry since 2009. Continue reading ›

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Alan Feigenbaum (Alan Scot Feigenbaum, CRD# 3132230) is a previously registered broker and investment advisor whose last known employer was Newbridge Securities Corporation (CRD#:104065) of Boynton Beach, FL. His previous employers were National Securities Corporation (CRD#:7569) and Prime Capital Services, Inc. (CRD#:18334), also of Boynton Beach. He has been in the industry since 1999. While employed at National Securities, the firm allowed Feigenbaum to resign on his own. Allegations surfaced that he misused the firm's trading platform to execute trades and client accounts without their written permission nor the firm’s. The reason given on his Form U5 termination form was, “Improper use of the Firm's trading platform to execute trades in client accounts.” Feigenbaum was then employed with Newbridge Securities Corporation. He continued to enter orders on a discretionary basis for 2,000 trades in 120 customer accounts. Some of these customers were senior citizens. The customers had permitted Feigenbaum to exercise discretion, but none had given him written authorization. Neither National nor Newbridge approved these accounts as discretionary. However, there were no complaints from the customers. Feigenbaum continued to exercise discretion without authorization even after receiving a written letter of caution from his supervisor at National for similar activity in September of 2015.Alan Feigenbaum (Alan Scot Feigenbaum, CRD# 3132230) is a previously registered broker and investment advisor whose last known employer was Newbridge Securities Corporation (CRD#:104065) of Boynton Beach, FL. His previous employers were National Securities Corporation (CRD#:7569) and Prime Capital Services, Inc. (CRD#:18334), also of Boynton Beach. He has been in the industry since 1999. Continue reading ›

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Las Vegas attorney Matthew Beasley was shot by FBI Special Agents who went to his house to interview him regarding his alleged involvement in a $300 million Ponzi scheme. Though shot in the chest and shoulder, Beasley refused to surrender and repeatedly confessed to his involvement in the scheme, Assistant U.S. Attorney Tony Lopez of the District of Nevada said in court. 49-year-old Matthew Wade Beasley was arrested and charged with assaulting a federal officer with a deadly weapon. Beasley made an initial appearance in federal court on March 8, 2022. Allegations in the criminal complaint state that FBI Special Agents went to a home in Las Vegas on March 3, 2022 to interview Beasley for an ongoing investigation. According to a press release from the Department of Justice “When agents knocked on the glass front doors, Beasley appeared with part of his body obscured. After an agent pulled back his suit jacket to show his FBI badge, Beasley then stepped into complete view with a gun pointed at his own head. When agents instructed Beasley to drop the gun, Beasley instead pointed it at the agents in a sweeping motion — causing one or more agents to discharge their firearm and striking Beasley.” An FBI SWAT team “had to forcefully enter the home and bring him out,” Lopez said. Beasley was released from the hospital. His lawyer sought house arrest, but a judge ordered Beasley detained without bond because Lopez said Beasley was a flight risk with significant assets including at least four homes, luxury cars, and an RV.Las Vegas attorney Matthew Beasley was shot by FBI Special Agents who went to his house to interview him regarding his alleged involvement in a $300 million Ponzi scheme.

Though shot in the chest and shoulder, Beasley refused to surrender and repeatedly confessed to his involvement in the scheme, Assistant U.S. Attorney Tony Lopez of the District of Nevada said in court. Continue reading ›

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What would you do if your broker decided to move to a new firm? Would you follow them? What if you’re a broker who wants to change firms for good cause? Silver Law Group represents investors and individual financial advisors in claims against brokerage firms for misconduct relating to failure to properly disclose the reasons for a brokers termination, claims of harassment or misconduct by the brokerage against the financial advisor and investors who have been harmed when brokerage firms fail to advise the client that a broker has been terminated for cause or damage to investor’s portfolio.What would you do if your broker decided to move to a new firm? Would you follow them?

What if you’re a broker who wants to change firms for good cause?

Silver Law Group represents investors and individual financial advisors in claims against brokerage firms for misconduct relating to failure to properly disclose the reasons for a brokers termination, claims of harassment or misconduct by the brokerage against the financial advisor and investors who have been harmed when brokerage firms fail to advise the client that a broker has been terminated for cause or damage to investor’s portfolio. Continue reading ›

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