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According to FINRA Disciplinary actions for October 2021, 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
  Arely Alvarez  Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Bradley Holts   World Capital Brokerage, Inc.
  Supreme Alliance LLC
  Johnnie Jones   Network 1 Financial Securities Inc.
  National Securities Corporation
  Stacie Orr   Allstate Financial Services, LLC
  Ryan Ott   Equitable Advisors, LLC
  Dominic Scalzi   Deutsche Bank Securities, Inc.
  Banc of America Investment Services, Inc.
  Andre Senegal   OneAmerica Securities, Inc.
  NYLIfe Securities LLC
  Kyle Stevens   SECU Brokerage Services, Inc.
  Rosemary Vrablic   Deutsche Bank Securities Inc.
  Banc of America Investment Services, Inc.

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Kenneth Welsh (Kenneth Andrews Welsh CRD:# 4657872) is a former registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Fairfield, New Jersey. Previously, he was employed with three divisions of Smith Barney (CRD#: 149777, 8209, and 7556), also of Fairfield. He has been in the industry since 2004. On October 28, 2021, The Securities & Exchange Commission (SEC) charged Welsh with misappropriation of $2.86 million from client accounts. Many of these clients were elderly investors, described by the SEC as “financially unsophisticated.” Prior to any transfer, the complaint alleges, Welsh circumvented the firm’s policies to carry them out. He also sold and traded in the customer accounts to ensure available cash for his unauthorized activity. Welsh made these sales within days of the illicit transfers.Kenneth Welsh (Kenneth Andrews Welsh CRD:# 4657872) is a former registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Fairfield, New Jersey. Previously, he was employed with three divisions of Smith Barney (CRD#: 149777, 8209, and 7556), also of Fairfield. He has been in the industry since 2004. Continue reading ›

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The SEC has found that two businesses that were alleged to invest in acquiring and leasing real estate to cannabis companies are frauds. The three defendants who used two crowdfunding websites to raise capital for the alleged real estate businesses are: Robert Samuel Shumake, Jr., of Bloomfield Hills, Michigan, the alleged “ringleader” with multiple criminal convictions, including two felonies involving financial crimes and on probation Nicole T. Birch, a solo licensed attorney in Georgia with a personal relationship to Shumake Willard L. Jackson, of Houston, Texas, the CEO and sole director of 420 Real Estate All falsely represented themselves to investors, as well as omitted Shumake’s previous criminal record and other important facts to investors in connection with the crowdfunding offerings. They then redirected thousands of dollars from investor funds to different accounts for their own personal benefit. The SEC has found that two businesses that were alleged to invest in acquiring and leasing real estate to cannabis companies are frauds. The three defendants who used two crowdfunding websites to raise capital for the alleged real estate businesses are: Continue reading ›

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Marc Reda (Marc Augustus Reda CRD:#2757330) is a registered broker currently employed with SPARTAN CAPITAL SECURITIES, LLC (CRD# 146251) of New York, NY. His previous employers include First Standard Financial Company LLC (CRD#:168340) of Staten Island, NY, PHX Financial, Inc. (CRD#:144403) and Laidlaw & Company (UK) Ltd. (CRD#:119037) also of New York City. FINRA expelled three of his previous employers: John Thomas Financial (CRD#:40982) of New York, NY, on 10/31/2013 Prestige Financial Center, Inc. (CRD#:30407), also of New York, NY, on 5/23/2011 Clark Street Capital, Inc. (CRD#:38304) of Levittown, NY, on 2/24/2005 He has been in the industry since 1999.Marc Reda (Marc Augustus Reda CRD:#2757330) is a registered broker currently employed with SPARTAN CAPITAL SECURITIES, LLC (CRD# 146251) of New York, NY. His previous employers include First Standard Financial Company LLC (CRD#:168340) of Staten Island, NY, PHX Financial, Inc. (CRD#:144403) and Laidlaw & Company (UK) Ltd. (CRD#:119037) also of New York City. Continue reading ›

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Cynthia Komarek & Grant Birkley, two brokers formerly registered with SagePoint Financial of Barrington, IL, were terminated on the same day after the firm discovered that they were engaged in making referrals to an outside asset manager who was not approved by the board. Cynthia Komarek (CRD#: 1188714, aka (Cynthia Ann Brown, Cynthia Brown-Komarek, Cynthia Brown Komarek, Cynthia Brown Pearson) is a former registered broker and investment advisor last employed with SagePoint. Her previous employers include Wells Fargo Clearing Services, LLC (CRD#:19616) of Woodstock, IL., Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Crystal Lake, IL., and Lehman Brothers Inc. (CRD#:7506), of New York, NY. She has been in the industry since 1983. Grant Birkley (Grant Christopher Birkley CRD#: 2933533) is also formerly registered with SagePoint, Wells Fargo, and Merrill Lynch at the same time as Komarek. He has been in the industry since 1998.  Two client disputes were filed on the same day for both Komarek and Birkley. In Komarek’s case, they total $2,330,000:Cynthia Komarek & Grant Birkley, two brokers formerly registered with SagePoint Financial of Barrington, IL, were terminated on the same day after the firm discovered that they were engaged in making referrals to an outside asset manager who was not approved by the board. Continue reading ›

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A class action lawsuit has been filed on behalf of shareholders of stock in Vipshop Holdings Ltd. (VIPS), regarding alleged violations of federal securities laws. If you purchased or acquired shares of Vipshop Holdings Ltd. (VIPS) between March, 22, 2021 and March 29, 2021, please contact Scott Silver of Silver Law Group at (800) 975-4345 or at ssilver@silverlaw.com. The deadline to apply to be lead plaintiff (class representative) is December 13, 2021. Vipshop Holdings Limited is a Chinese e-commerce company that operates Vip.com and other segments. The company sells apparel, skin care products, accessories, home furnishings, and more. Class Action Allegations According to the class action lawsuit, which was filed in the US District Court for the Southern District of New York, Goldman Sachs Group Inc. and Morgan Stanley (Defendants) traded with non-public material information.A class action lawsuit has been filed on behalf of shareholders of stock in Vipshop Holdings Ltd. (VIPS), regarding alleged violations of federal securities laws.

If you purchased or acquired shares of Vipshop Holdings Ltd. (VIPS) between March, 22, 2021 and March 29, 2021, please contact Scott Silver of Silver Law Group at (800) 975-4345 or at ssilver@silverlaw.com. The deadline to apply to be lead plaintiff (class representative) is December 13, 2021. Continue reading ›

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Daniel O’Neil and Douglas Szempruch, two brokers working for Aegis Capital Corp. (CRD#:15007) in Melville, NY, have faced disciplinary action FINRA after both were separately involved in improper activities. Daniel O’Neil (Daniel James O’Neil CRD#:1358245) is a former registered broker with Aegis, who discharged him on 7/29/2021 for failing to notify the firm about a “pending enforcement investigation” by FINRA. The investigation focused on “conduct inconsistent with firm standards.”Daniel O’Neil and Douglas Szempruch, two brokers working for Aegis Capital Corp. (CRD#:15007) in Melville, NY, have faced disciplinary action FINRA after both were separately involved in improper activities.

Daniel O’Neil (Daniel James O’Neil CRD#:1358245) is a former registered broker with Aegis, who discharged him on 7/29/2021 for failing to notify the firm about a “pending enforcement investigation” by FINRA. The investigation focused on “conduct inconsistent with firm standards.” Continue reading ›

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Paul Vizanko (Paul Warren Vizanko CRD:#2572222) is a former broker and investment advisor last employed with  Wells Fargo Clearing Services, LLC (CRD#:19616) of Duluth, MN. He was previously employed with Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691), also of Duluth, MN, Wells Fargo Investments, LLC (CRD#:10582) of Grand Rapids, MN, and Miller Johnson Steichen Kinnard, Inc. (CRD#:694) He has been in the industry since 1995. Wells Fargo discharged Vizanko on 1/26/2021 after he borrowed money from a client. Additionally, Vizanko received a cash gift from a different client, and was also named a beneficiary of the second client’s trust. Vizanko failed to notify the firm of these funds, then misappropriated those funds. After FINRA requested information related to his termination, Vizanko failed to respond to two letters dated May 26, 2021 and June 21, 2021. FINRA issued a suspension from any association with a FINRA member, which Vizanko failed to address by requesting within three months of the date. As of August 30, 2021, Vizanko is indefinitely barred from any affiliation with a FINRA member. This ruling is final. On August 12, 2021, a customer filed a dispute alleging that from September 23, 2015 through December 22, 2020, Vizanko cashed checks that were made out to him but intended for the client. No damage amount is listed, and no other information is available. This claim is pending.Paul Vizanko (Paul Warren Vizanko CRD:#2572222) is a former broker and investment advisor last employed with  Wells Fargo Clearing Services, LLC (CRD#:19616) of Duluth, MN. He was previously employed with Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691), also of Duluth, MN, Wells Fargo Investments, LLC (CRD#:10582) of Grand Rapids, MN, and Miller Johnson Steichen Kinnard, Inc. (CRD#:694) He has been in the industry since 1995. Continue reading ›

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Silver Law Group’s Coral Springs headquarters serves as home base for many of our attorneys and support staff. Scott Silver, managing partner of Silver Law Group, is licensed to practice in Florida and New York and is proud to establish a leading securities and investment fraud law firm in Coral Springs. Centrally located between Palm Beach and Miami, our attorney’s have easy access to the federal courts throughout south Florida. We represent investors in securities and investment fraud cases to recover losses due to stockbroker misconduct, fraud, and Ponzi schemes. Our work is frequently featured in the Palm Beach Post, Sun Sentinel and other Florida publications and we are proud to help ponzi scheme victims throughout Florida. Our firm takes most cases on a contingency fee basis, meaning clients don’t have to pay us up front and nothing is owed unless we recover your money for you. If you have investment losses, call us toll free at (800) 975-4345 or email ssilver@silverlaw.com. Silver Law Group helps investors in south Florida and around the country. We have satellite offices in Boca Raton and New York, and our main office is in Coral Springs, Florida. Scott Silver, Silver Law Group’s managing partner, is a graduate of the University of Miami Law School. A popular guest lecturer, Scott frequently speaks at Law Schools, trial bar functions and elsewhere about preventing Ponzi schemes. Scott currently serves as Chairman of the American Association of Justice Chair for Securities and Financial Fraud.Silver Law Group’s Coral Springs headquarters serves as home base for many of our attorneys and support staff. Scott Silver, managing partner of Silver Law Group, is licensed to practice in Florida and New York and is proud to establish a leading securities and investment fraud law firm in Coral Springs. Continue reading ›

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The SEC announced that it has filed a temporary restraining order against Ron Harrison (Ron K. Harrison), a former registered broker and investment advisor (CRD#: 1785805) to freeze the assets of his company, Global Trading Institute, and his girlfriend since 2017, Irina Parfyonova. She is named as a relief defendant after receiving more than $279,000 from Harrison’s fraudulent activities, using the funds for their own living expenses. The US District Court in the Central District of California granted the SEC’s restraining order on September 30, 2021, freezing assets and requiring a full accounting of all funds. The court also set another hearing on October 14th to extend the emergency relief with a preliminary injunction.  The complaint states that Harrison and Parfyonova live in Ladera Ranch, CA. Harrison was unregistered, and ran his company, Global Trading Institute (GTI) since 2016 and the now-defunct Trading Advisement Program, LLC (TAP.) Neither were ever registered with the SEC. Harrison charged 22 clients $900,000 based on alleged gains he’d made trading options in the client’s accounts.The SEC announced that it has filed a temporary restraining order against Ron Harrison (Ron K. Harrison), a former registered broker and investment advisor (CRD#: 1785805) to freeze the assets of his company, Global Trading Institute, and his girlfriend since 2017, Irina Parfyonova. She is named as a relief defendant after receiving more than $279,000 from Harrison’s fraudulent activities, using the funds for their own living expenses. Continue reading ›

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