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$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
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Public Justice

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According to FINRA Disciplinary actions for April 2025, 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. However, these individuals remain bound by the securities arbitration agreement to arbitrate any disputes between themselves and their former customers:

NAME FORMER EMPLOYERS
Anthony Richard Bottini III Merrill Lynch
JEU Emmanuel Delgado Lopez PFS Investments Inc.
Jerome Oliver Harris Farmers Financial Solutions LLC
Thomas Christopher Johnson NYLife Securities LLC
Amanda E Kriss J.P. Morgan Securities
Chase Investment Services Corp
Michael Oakley Thomas Thrivent Investment Management

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If you invested in the 352 Capital Fund through Jefferies Financial Group Inc., contact Silver Law Group for a no-cost consultation at 800-975-4353 to discuss your potential options. The U.S. Securities and Exchange Commission has filed indictments for fraud against two individuals over a fraudulent franchise scheme involving water purification vending machines. They were: Ryan Wear, the CEO of WaterStation, and Jordan Chirico, a former Jefferies Financial Group Inc., hedge fund manager charged with fraud for directing nearly $100 million in bonds. These individuals targeted retail investors, including veterans, who have lost over $200 million. The scheme involved selling water vending machines and placing them in areas where purified water was difficult to obtain. The water was sold by the gallon and was allegedly more profitable than other types of vending machines.If you invested in the 352 Capital Fund through Jefferies Financial Group Inc., contact Silver Law Group for a no-cost consultation at 800-975-4353 to discuss your potential options.

The U.S. Securities and Exchange Commission has filed indictments for fraud against two individuals over a fraudulent franchise scheme involving water purification vending machines. They were: Ryan Wear, the CEO of WaterStation, and Jordan Chirico, a former Jefferies Financial Group Inc., hedge fund manager charged with fraud for directing nearly $100 million in bonds. These individuals targeted retail investors, including veterans, who have lost over $200 million. Continue reading ›

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Silver Law Group is investigating an alleged scheme to defraud 3|5|2 Capital ABS Master Fund LP (the “352 Fund”), which is a hedge fund that was part of Jefferies Financial Group’s Leucadia Asset Management (“Leucadia”). The former Leucadia portfolio manager of the 352 Fund, Jordan Chirico, was indicted for purportedly engaging in a series of conflicted transactions at the expense of those who entrusted Leucadia with hundreds of millions of dollars to invest in the 352 Fund. Specifically, in breach of fiduciary duties of loyalty and care owed by Leucadia to 352 Fund investors, Chirico was criminally charged for causing the 352 Fund and its affiliates to pour almost $100 million into an alleged Ponzi scheme masquerading as a water machine company called Water Station Management, LLC (“Water Station”). As the 352 Fund made those investments, Chirico purportedly had secret undisclosed financial stakes in the alleged Ponzi scheme conducted at the expense of the 352 Fund’s investors.  Silver Law Group is investigating an alleged scheme to defraud 3|5|2 Capital ABS Master Fund LP (the “352 Fund”), which is a hedge fund that was part of Jefferies Financial Group’s Leucadia Asset Management (“Leucadia”). The former Leucadia portfolio manager of the 352 Fund, Jordan Chirico, was indicted for purportedly engaging in a series of conflicted transactions at the expense of those who entrusted Leucadia with hundreds of millions of dollars to invest in the 352 Fund. Continue reading ›

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Silver Law Group, along with co-counsel, filed a class action lawsuit against Jerry Hostetter, Buck Joffrey, Randall Leaman, and David Zook on behalf of investors to recover losses in what the Plaintiff alleges was a “$700,000,000 Ponzi scheme perpetrated by and through a series of investment funds, called the ‘Prestige Fund(s),’ together with Paramount Management Group, LLC.” The class action, filed in United States District Court for the Eastern District of Pennsylvania, alleges that the Defendants, along with Daryl Heller, served as executives for, managed, and raised capital for a Lancaster Pennsylvania-based company—Prestige—that, together with Paramount, claimed to manage a portfolio of approximately 38,000 ATMs when in fact the company owned/managed fewer than 10,000, leading to massive cash shortfalls.Silver Law Group, along with co-counsel, filed a class action lawsuit against Jerry Hostetter, Buck Joffrey, Randall Leaman, and David Zook on behalf of investors to recover losses in what the Plaintiff alleges was a “$700,000,000 Ponzi scheme perpetrated by and through a series of investment funds, called the ‘Prestige Fund(s),’ together with Paramount Management Group, LLC.” Continue reading ›

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Silver Law Group seeks to speak to investors in the Easterly ROCMuni High Income Municipal Bond Fund (RMHIX), which has recently declined in value by about half. Our firm may be able to help you recover your losses. If you bought or acquired shares of Easterly ROCMuni High Income Municipal Bond Fund (RMHIX), Silver Law Group may be able to recover your investment losses. Contact us at 800-975-4345 or ssilver@silverlaw.com for a no-cost consultation.Silver Law Group seeks to speak to investors in the Easterly ROCMuni High Income Municipal Bond Fund (RMHIX), which has recently declined in value by about half. Our firm may be able to help you recover your losses.

If you bought or acquired shares of Easterly ROCMuni High Income Municipal Bond Fund (RMHIX), Silver Law Group may be able to recover your investment losses. Contact us at 800-975-4345 or ssilver@silverlaw.com for a no-cost consultation. Continue reading ›

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Silver Law Group is investigating potential claims to recover losses for Easterly ROCMuni High Income Municipal Bond Fund (RMHIX) investors. The fund has lost over 50% of its value in 2025, sustaining the majority of losses in the past few months. According to Easterly’s website, the fund employs “a tax-efficient, high-yield municipal bond strategy that focuses on delivering yield-driven total returns.” Other materials distributed by the fund claim the fund relies “mostly on fundamental credit analysis by building a diversified high-yield portfolio focusing on overlooked and under-appreciated sectors of the high-yield municipal bond market.”Silver Law Group is investigating potential claims to recover losses for Easterly ROCMuni High Income Municipal Bond Fund (RMHIX) investors. The fund has lost over 50% of its value in 2025, sustaining the majority of losses in the past few months.

According to Easterly’s website, the fund employs “a tax-efficient, high-yield municipal bond strategy that focuses on delivering yield-driven total returns.” Other materials distributed by the fund claim the fund relies “mostly on fundamental credit analysis by building a diversified high-yield portfolio focusing on overlooked and under-appreciated sectors of the high-yield municipal bond market.” Continue reading ›

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Stewart Ginn (a/k/a Stewart Taylor or Paxton Ginn Jr.), who is the owner of Paxton Financial Services, has been a broker Independent Financial Group, LLC since 2015. In 2023 Ginn was suspended by FINRA after FINRA found that Ginn “excessively traded five customers’ accounts” even though “[n]one of the five customers was an aggressive investor” and “three of the customers were retired seniors,” resulting in millions of dollars in losses. According to the Financial Industry Regulatory Authority (FINRA), such misconduct violated FINRA Rules and Regulation Best Interest. As a result, Ginn was suspended from acting as a FINRA broker for 18 months, was fined $50,000, and was ordered to pay restitution of $115,000 plus interest.Stewart Ginn (a/k/a Stewart Taylor or Paxton Ginn Jr.), who is the owner of Paxton Financial Services, has been a broker Independent Financial Group, LLC since 2015. In 2023 Ginn was suspended by FINRA after FINRA found that Ginn “excessively traded five customers’ accounts” even though “[n]one of the five customers was an aggressive investor” and “three of the customers were retired seniors,” resulting in millions of dollars in losses. Continue reading ›

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Silver Law Group founder and managing partner Scott Silver recently commented on a case in which a former Wells Fargo customer requested to have an arbitration decision overturned because he felt that he was “improperly induced” into signing a release agreement prior to seeking arbitration. “This case highlights the way big brokerage firms clean up situations with bad brokers by protecting themselves instead of protecting their customers and advising them of significant misconduct,”  Scott said in an email to AdvisorHub The case stems from a former Wells Fargo broker, Scott Wayne Reed (CRD# 3007033), of Scottsdale, AZ, who persuaded his brokerage customers into investing in a private software company without the firm’s approval, known as “selling away.”  The now-defunct entity, called Pebblekick, was a streaming company based in Pasadena, CA. Reed solicited six investors, invested $200,000 of his own funds into the company, and received a commission of $191,340 for his work recruiting six new investors. As a result, FINRA barred Reed from the industry in 2021. Kenneth Grover, the client, originally signed an agreement with Wells Fargo that would forgive his margin call debt with the firm after his broker, Reed, was barred. Grover’s signing of the release agreement in exchange for the debt forgiveness also dismissed any other claim he might have against the wirehouse.Silver Law Group founder and managing partner Scott Silver recently commented on a case in which a former Wells Fargo customer requested to have an arbitration decision overturned because he felt that he was “improperly induced” into signing a release agreement prior to seeking arbitration.

“This case highlights the way big brokerage firms clean up situations with bad brokers by protecting themselves instead of protecting their customers and advising them of significant misconduct,”  Scott said in an email to AdvisorHub Continue reading ›

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Sean Righter (CRD# 5419832) is a previously registered broker and currently registered investment advisor. His last known employer was Morgan Stanley (CRD# 149777) of Irvine, CA. Prior to Morgan Stanley, Righter was employed with Citigroup Global Markets Inc. (CRD# 7059) of Laguna Nigel, CA. He has been in the industry since 2007. A customer dispute filed on 3/12/25 alleges that Righter executed an “unsuitable” investment strategy in a client’s account. This unsuitability went from January 2021 through January 2025. The client requests damages of $1,300,000. This claim is currently “pending.”Sean Righter (CRD# 5419832) is a previously registered broker and currently registered investment advisor. His last known employer was Morgan Stanley (CRD# 149777) of Irvine, CA. Prior to Morgan Stanley, Righter was employed with Citigroup Global Markets Inc. (CRD# 7059) of Laguna Nigel, CA. He has been in the industry since 2007. Continue reading ›

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Charles Weldon (Charles Raymond Weldon, CRD# 1030659, aka “C. Raymond Weldon”) is a currently registered broker and investment advisor currently employed with Independent Financial Group, LLC (CRD# 7717) of Boca Raton, Fl, and as an investment advisor with Weldon & Company (CRD# 129099), also of Boca Raton. His previous employers include The Investment Center, Inc. (CRD# 17839), and Cetera Advisor Networks LLC (CRD# 13572), also of Boca Raton. He has been in the industry since 1984. Weldon is the subject of seven disclosures, all customer disputes. Two claims are pending, and five have been settled. No disciplinary action has been recorded in his CRD. The most recently filed dispute was filed on 3/10/2025, alleging unsuitable investment recommendations that led to losses. Additionally, the claimants allege that the broker dealer failed to adequately supervise the representative (Weldon.) The claimants are requesting damages of $500,000.01. In his rebuttal, Weldon claims that the accounts transferred from Cetera, and were not IFG accounts, and will be defended by the firm. This claim is currently pending.Charles Weldon (Charles Raymond Weldon, CRD# 1030659, aka “C. Raymond Weldon”) is a currently registered broker and investment advisor currently employed with Independent Financial Group, LLC (CRD# 7717) of Boca Raton, Fl, and as an investment advisor with Weldon & Company (CRD# 129099), also of Boca Raton. His previous employers include The Investment Center, Inc. (CRD# 17839), and Cetera Advisor Networks LLC (CRD# 13572), also of Boca Raton. He has been in the industry since 1984. Continue reading ›

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