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Hector Luna (Hector Luis Luna) is a previously registered broker whose last employer was Pruco Securities, LLC. (CRD#:5685). He has been in the industry since 2012. During Luna’s tenure, specifically from September 2018 through his termination in January of 2019, Pruco Securities had a policy that prohibited representatives or any of the representative’s family members from becoming beneficiaries of a customer's life insurance policy. Luna also stated annually that he understood this policy, and would report to his manager any known violation that he became aware of. Despite this annual declaration, Luna assisted a senior customer of the firm to change the beneficiaries of two life insurance policies to Luna’s wife and adult children. The total combined value of these policies was $350,000. At first, the customer suggested making Luna the beneficiary, but Luna declined based on the firm’s policies, then suggested his wife and children. Once the beneficiaries were changed, Luna submitted the forms but did not notify the firm of his family members involvement.Hector Luna (Hector Luis Luna) is a previously registered broker whose last employer was Pruco Securities, LLC. (CRD#:5685). He has been in the industry since 2012.

During Luna’s tenure, specifically from September 2018 through his termination in January of 2019, Pruco Securities had a policy that prohibited representatives or any of the representative’s family members from becoming beneficiaries of a customer’s life insurance policy. Luna also stated annually that he understood this policy, and would report to his manager any known violation that he became aware of. Continue reading ›

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Brian DiBrino (Brian Joseph DiBrino CRD: #2837066) is a registered broker and a previously registered investment advisor who is currently employed with American Portfolios Financial Services, Inc. (CRD#:18487) of Fairfield, NJ. His previous employers include First Allied Advisory Services, Inc. (CRD#:137888), First Allied Securities, Inc. (CRD#:32444) and SII Investments, Inc. (CRD#:2225), also of Fairfield. He has been in the industry since 1997. DiBrino is the subject of two pending customer disputes. The first was filed on 7/15/2020, alleging “misrepresentation, unsuitable recommendations, breach fiduciary duty, failure to supervise, breach of contract and negligence” in relation to alternative investments. The clients are requesting damages of $125,000. DiBrino denies the claims, and states that they have not been clients for more than three years.Brian DiBrino (Brian Joseph DiBrino CRD: #2837066) is a registered broker and a previously registered investment advisor who is currently employed with American Portfolios Financial Services, Inc. (CRD#:18487) of Fairfield, NJ. His previous employers include First Allied Advisory Services, Inc. (CRD#:137888), First Allied Securities, Inc. (CRD#:32444) and SII Investments, Inc. (CRD#:2225), also of Fairfield. He has been in the industry since 1997. Continue reading ›

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Miami-Based David Coggins Accused of Perpetrating Alleged Securities Fraud Silver Law Group is continuing to investigate and has now filed several lawsuits on behalf of victims of an alleged hedge fund fraud perpetrated by David Coggins, who investors claim operated a bogus hedge fund named Coral Gables Capital, LP and/or Coral Gables Asset Holdings, LP. Coggins managed these “funds” through his company Coral Gables Asset Management, LLC. Coggins has spent the last few years soliciting investments for his hedge fund, which investors now contend was a total fraud through which Coggins stole investors’ funds. Among other things, in Silver Law Group’s pending cases, investors have alleged: Coggins contacted prospective investors by sharing fake marketing materials and performance data which made Coggins’ fund, Coral Gables Capital and/or Coral Gables Asset Holdings, seem as if it was generating substantial returns over the past few years. Coggins even created fake audit reports and a compliance manual intended to dupe investors into believing they were dealing with a legitimate, established hedge fund with millions in assets under management.Miami-Based David Coggins Accused of Perpetrating Alleged Securities Fraud

Silver Law Group is continuing to investigate and has now filed several lawsuits on behalf of victims of an alleged hedge fund fraud perpetrated by David Coggins, who investors claim operated a bogus hedge fund named Coral Gables Capital, LP and/or Coral Gables Asset Holdings, LP. Coggins managed these “funds” through his company Coral Gables Asset Management, LLC. Continue reading ›

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Omar Hammad-Randolph (Omar Waleed Hammad-Randolph CRD# 6087721) is a previously registered broker who last worked for Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD# 7691) in their Boca Raton, Florida office. FINRA suspended Omar Hammad-Randolph for borrowing $150,000 from a customer without disclosing the loan or obtaining approval from the firm. Omar Hammad-Randolph Disclosures Omar Hammad-Randolph has been in the securities industry since 2012 and has 4 disclosures on his publicly-available FINRA BrokerCheck report: August, 2020: A regulatory disclosure initiated by FINRA states “Without admitting or denying the findings, Hammad-Randolph consented to the sanctions and to the entry of findings that he borrowed $150,000 from a customer at his member firm without disclosing the loan to, and obtaining approval from, the firm. The findings stated that Hammad-Randolph purchased a house for investment which he partially financed through the loan that he obtained from the customer. The findings also stated that Hammad-Randolph engaged in outside business activities without disclosing them in writing to, and obtaining approvals from, the firm for the expanded scope of his and his trust's business activities…” Omar Hammad-Randolph was fined $10,000 and suspended in all capacities for five months.Omar Hammad-Randolph (Omar Waleed Hammad-Randolph CRD# 6087721) is a previously registered broker who last worked for Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD# 7691) in their Boca Raton, Florida office. FINRA suspended Omar Hammad-Randolph for borrowing $150,000 from a customer without disclosing the loan or obtaining approval from the firm. Continue reading ›

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After meeting him at bar in Boca Raton, Tania Deutsch began investing with David Cohen, who promised incredible returns through marijuana and real estate investments. Deutsch lost $1.45 million with Cohen, who was not licensed as a broker or financial adviser and is accused of defrauding her. This is a familiar story which was highlighted in a recent Palm Beach Post story. On October, 22, 2020, David Cohen was booked at the Palm Beach County Jail and criminally charged with money laundering, two counts of grand theft of over $100,000, and conducting an organized scheme to defraud $50,000 or more. Our securities fraud attorneys are representing investors in a variety of cases tied to investments in  Marijuana, CBD and THC related companies. This growing area of the economy is rife with fraud and non-registered brokers or financial advisors and company insiders taking investors to new highs only to discover that most of the money has been taken for the insiders own personal use.After meeting him at bar in Boca Raton, Tania Deutsch began investing with David Cohen, who promised incredible returns through marijuana and real estate investments. Deutsch lost $1.45 million with Cohen, who was not licensed as a broker or financial adviser and is accused of defrauding her. This is a familiar story which was highlighted in a recent Palm Beach Post story. Continue reading ›

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According to FINRA Disciplinary actions for September 2020, the following individuals were barred 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:

NAME FORMER EMPLOYERS
  Madeline Colon
  Blair Olsen   Lincoln Investment
  Legend Equities Corporation
  Jennifer Pendley   J.P. Morgan Securities LLC
  Scott Snelling   Kestra Investment Services, LLC
  National Planning Corporation

Continue reading ›

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According to FINRA Disciplinary actions for September 2020, the following individuals were suspended from FINRA for failing to comply with a FINRA arbitration award or settlement agreement pursuant to FINRA rules:

NAME FORMER EMPLOYERS
  William Baris   Network 1 Financial Securities Inc.
  Joseph Stone Capital LLC
  Todd Paynter   Cambridge Investment Research, Inc.
  Ameriprise Financial Services, Inc.
  Nelson Polun   Wells Fargo Clearing Services, LLC
  Merrill Lynch, Pierce, Fenner & Smith Inc
  Adam Schachter   LPL Financial LLC
  Wells Fargo Clearing Services, LLC
  Paul Steffany   Moors & Cabot, Inc.
  Raymond James & Associates, Inc.
  Peter Walsworth   Morgan Stanley
  Merrill Lynch, Pierce, Fenner & Smith Inc

Continue reading ›

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According to FINRA Disciplinary actions for September 2020, 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
  William Ellis   Charles Schwab & Co., Inc.
  Fidelity Brokerage Services LLC
  John Evans   Wells Fargo Clearing Services, LLC
  Foreside Fund Services, LLC
  Dia Howell   U.S. Bancorp Investments, Inc.
  May Kim   Pruco Securities, LLC
  Evan Nadelman   Aegis Capital Corp.
  Ninety Holdings Group LLC
  Blair Olsen   Lincoln Investment
  Legend Equities Corporation
  Gyasi Richard   Wells Fargo Clearing Services LLC
  Philip Scherello   Traderfield Securities Inc.
  Velocity Capital, LLC

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A class action lawsuit has been filed against Neovasc Inc. (NVCN), a Canadian biotech company, regarding potential violations of federal securities laws. If you have losses from investing in Neovasc Inc. (NVCN) during the class period between November 1, 2019 and October 27, 2020, contact Silver Law Group for a no-cost consultation at (800) 975-4345 or by email at ssilver@silverlaw.com. The deadline to apply to be lead plaintiff is January 5, 2021. A class has not been certified in this case. You are not represented by an attorney until certification occurs. Neovasc Reducer   Neovasc Inc. (NVCN) is a specialty medical device company that creates cardiovascular devices for the domestic and international market. Neovasc’s products include the Neovasc Reducer, which is under review by the U.S. Food and Drug Administration (FDA) for treatment of patients with refractory angina pectoris.A class action lawsuit has been filed against Neovasc Inc. (NVCN), a Canadian biotech company, regarding potential violations of federal securities laws.

If you have losses from investing in Neovasc Inc. (NVCN) during the class period between November 1, 2019 and October 27, 2020, contact Silver Law Group for a no-cost consultation at (800) 975-4345 or by email at ssilver@silverlaw.com. Continue reading ›

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Jesse Kovacs (Jesse Todd Kovacs CRD# 5047161) is a currently suspended broker who last worked for PTS Brokerage, LLC in their Forked River, New Jersey branch office. Kovacs was suspended for participating in a private securities transaction (selling away) without giving advance written notice to his firm. Jesse Kovacs Disclosures Jesse Kovacs has been in the securities industry since 2006. Before joining PTS Brokerage in 2019, Kovacs worked for The O.N. Equity Sales Company, Hornor, Townsend & Kent, Inc., and other broker-dealers. Kovacs has 6 disclosures on his publicly-available FINRA BrokerCheck report:Jesse Kovacs (Jesse Todd Kovacs CRD# 5047161) is a currently suspended broker who last worked for PTS Brokerage, LLC in their Forked River, New Jersey branch office. Kovacs was suspended for participating in a private securities transaction (selling away) without giving advance written notice to his firm. Continue reading ›

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