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Stuart Pearl (Stuart L. Pearl CRD#: 1500833, aka “Stu Pearl”) is a currently registered investment advisor and previously registered broker whose last known employment was with David A. Noyes & Company (CRD#:205) of Indianapolis, IN. Previous employers include Ameriprise Financial Services, Inc. (CRD#:6363), Morgan Stanley Smith Barney (CRD#:149777) and Citigroup Global Markets Inc. (CRD#:7059) of Deerfield, IL. He has been in the industry since 1986. Pearl is the subject of eight disclosures, the most recent of which was filed on 5/18/2020. This customer dispute alleges that Stuart Pearl created a margin trading account without discussing it with the client first. The client requests damages in the amount of $2,088,124.00. This case is currently listed as “pending.” A previous customer dispute filed on 3/10/2019 alleges that Pearl “put on a large hedge position in customer's account without the customer's knowledge.”  The client requested damages in the amount of $85,000, and the company settled for $42,500.Stuart Pearl (Stuart L. Pearl CRD#: 1500833, aka “Stu Pearl”) is a currently registered investment advisor and previously registered broker whose last known employment was with David A. Noyes & Company (CRD#:205) of Indianapolis, IN. Previous employers include Ameriprise Financial Services, Inc. (CRD#:6363), Morgan Stanley Smith Barney (CRD#:149777) and Citigroup Global Markets Inc. (CRD#:7059) of Deerfield, IL. He has been in the industry since 1986. Continue reading ›

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Cynthia Cowden (Cynthia Diane Cowden CRD#: 2054676) is a former registered broker and investment advisor whose last known employer was NPB Financial Group, LLC (CRD#:137743) of Lake Isabella, CA. Her previous employers include Tricor Financial, LLC (CRD#:142518) and Next Financial Group, Inc. (CRD#:46214), also of Lake Isabella, and Advantage Capital Corporation (CRD#:146) of Atlanta, GA. She has been in the industry since 1990. A client dispute filed on 1/29/2020 alleged that Cowden committed:  Negligence, suitability, negligent misrepresentation and omission; intentional misrepresentation and omission; fraud; violation of California securities laws. Control person liability; breach of fiduciary duty; failure to supervise; unsuitability; over concentration, breach of FINRA rules; breach of contract; loss of investment opportunity; and financial elder abuse. The client requested damages of $80,589.00, and the firm settled the claim for $57,000. FINRA responded to complaints from their Senior Helpline from a married couple and a single investor regarding the unsuitable recommendations they received from Cowden. From August 2016 through December 2017, Cowden recommended very high-risk investments to them. All three lived in California, and were inexperienced investors.Cynthia Cowden (Cynthia Diane Cowden CRD#: 2054676) is a former registered broker and investment advisor whose last known employer was NPB Financial Group, LLC (CRD#:137743) of Lake Isabella, CA. Her previous employers include Tricor Financial, LLC (CRD#:142518) and Next Financial Group, Inc. (CRD#:46214), also of Lake Isabella, and Advantage Capital Corporation (CRD#:146) of Atlanta, GA. She has been in the industry since 1990. Continue reading ›

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Forrest Jones (Forrest Andrew Jones, CRD# 4880765) is a former registered broker and investment advisor whose last known employer was Merrill, Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Conroe, TX. His previous employers include Fortune Financial Services, Inc. (CRD#:42150) of Montgomery, TX, McNally Financial Services Corporation (CRD#:121196) of The Woodlands, TX, and MetLife Securities Inc. (CRD#:14251) of Houston, TX. He has been in the industry since 2005. The US Securities and Exchange Commission (SEC) began an investigation into Jones’ business practices on 6/24/2020. The agency began investigating these allegations involving omission and misrepresentations in the offerings of private placements, including promissory notes. On 5/13/21, the SEC then filed its complaint against Jones, along with Knight Nguyen Investments, Christopher Knight Lopez and his brother, Jayson Lopez after raising at least $3.7 million from retail investors and advisory clients in at least five fraudulent securities offerings. Many of the investors were older and inexperienced. Jones and the Lopez brothers promised them solid investments with guaranteed high returns. However, the company, Jones, and the Lopez brothers recommended to and sold the investors very high-risk products that failed to meet the firm’s own criteria for investments. Furthermore, these investments were owned, controlled and/or associated with the Lopez brothers, who made multiple omissions and misstatements about the potential for the investments. The Lopez brothers also misappropriated and misused some of the investor funds and produced falsified financial statements for the defrauded investors, according to the SEC.

Forrest Jones (Forrest Andrew Jones, CRD# 4880765) is a former registered broker and investment advisor whose last known employer was Merrill, Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Conroe, TX. His previous employers include Fortune Financial Services, Inc. (CRD#:42150) of Montgomery, TX, McNally Financial Services Corporation (CRD#:121196) of The Woodlands, TX, and MetLife Securities Inc. (CRD#:14251) of Houston, TX. He has been in the industry since 2005. Continue reading ›

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Michael Pina (Michael Kris Pina CRD#: 5922058) is a former registered broker whose last known employer was PFS Investments Inc. (CRD#:10111) of Fort Lauderdale, FL. He has been in the industry since 2011, and began working with PFS in 2013. A client filed a dispute on 2/4/2019 alleging that she gave Pina a check for $20,000, under the impression that it was to be invested. The firm settled for the damages requested, which was $20,000. On 3/7/2019, PFS Investments allowed Pina to resign after he admitted borrowing $20,000 from a client. The firm terminated his registration in a Form U5 filed with FINRA, disclosing the circumstances of his termination. Based on the Form U5, FIRNA began its investigation.Michael Pina (Michael Kris Pina CRD#: 5922058) is a former registered broker whose last known employer was PFS Investments Inc. (CRD#:10111) of Fort Lauderdale, FL. He has been in the industry since 2011, and began working with PFS in 2013.

A client filed a dispute on 2/4/2019 alleging that she gave Pina a check for $20,000, under the impression that it was to be invested. The firm settled for the damages requested, which was $20,000. Continue reading ›

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Roger Duval (Roger Allen Duval CRD#: 2503718) is a former registered broker and investment advisor whose last known employer was Pruco Securities, LLC. (CRD#:5685) of Bellevue, WA.  His previous employers include MML Investors Services, LLC (CRD#:10409) and MSI Financial Services, Inc. (CRD#:14251) both of Spokane, WA, and Allstate Financial Services, LLC (CRD#:18272) of Liberty Lake, WA.  He has been in the industry since 1994. Duval is the subject of nine disclosures. A recent client dispute filed on 9/11/2020 alleges that Duval borrowed an unspecified amount of money in March of 2018, and has failed to pay it back. Beginning in January of 2019, Duval made “unspecified unsuitable recommendations,” and began making unauthorized transfers away from the firm without the knowledge and consent of the client. This case is currently “pending,” and no requested damages are noted. On 3/2/2020, a different client dispute alleges that Duval misappropriated funds, and failed to fully disclose facts regarding the client’s investment objective. This claim was denied. No further information is available.Roger Duval (Roger Allen Duval CRD#: 2503718) is a former registered broker and investment advisor whose last known employer was Pruco Securities, LLC. (CRD#:5685) of Bellevue, WA.  His previous employers include MML Investors Services, LLC (CRD#:10409) and MSI Financial Services, Inc. (CRD#:14251) both of Spokane, WA, and Allstate Financial Services, LLC (CRD#:18272) of Liberty Lake, WA.  He has been in the industry since 1994. Continue reading ›

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Peter Ianace (Peter Vincent Ianace CRD#: 3238078) is a formerly registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Plano, TX. His previous employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Frisco, TX, Morgan Stanley Smith Barney (CRD#:149777) and Morgan Stanley & Co. Incorporated (CRD#:8209), both of Plano, TX. He has been in the industry since 1999. Ianace is the subject of two current customer disputes, filed on 8/7/2020 and 8/24/2020, with similar allegations of unsuitable recommendations. One client also alleges that Ianace “neglected to reduce the over-concentrated and over-leveraged nature of their accounts.” Both disputes are currently listed as “pending.” FINRA began an investigation into Ianace’s business activities outside of his firm after he failed to report them. Ianace initially cooperated with the investigation, but stopped in August of 2020. After declaring to FINRA staff that he would not provide any further assistance or documentation, FINRA issued an Acceptance, Waiver & Consent (AWC) which Ianace signed.Peter Ianace (Peter Vincent Ianace CRD#: 3238078) is a formerly registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Plano, TX. His previous employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Frisco, TX, Morgan Stanley Smith Barney (CRD#:149777) and Morgan Stanley & Co. Incorporated (CRD#:8209), both of Plano, TX. He has been in the industry since 1999. Continue reading ›

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Christ Baltas (Christ Elias Baltas CRD: 2570499) is a former registered broker whose last known employer was Worden Capital Management LLC (CRD#:148366) of Melville, NY. His previous employers include Wilmington Capital Securities, LLC (CRD#:133839) also of Melville, Kovack Securities Inc. (CRD#:44848) of Fort Lauderdale FL, and Quest Capital Strategies, Inc. (CRD#:16783) of Laguna Hills, CA. He has been in the industry since 1995. In August of 2020, FINRA sent Baltas a notice to appear for on-the-record testimony in relation to its investigation of his supervision of a registered representative. This representative had made trading recommendations that were potentially unsuitable while Baltas was a supervisor. Although Baltas acknowledged receipt of FINRA's notice, he notified staff that he would not be appearing for testimony at any time.Christ Baltas (Christ Elias Baltas CRD: 2570499) is a former registered broker whose last known employer was Worden Capital Management LLC (CRD#:148366) of Melville, NY. His previous employers include Wilmington Capital Securities, LLC (CRD#:133839) also of Melville, Kovack Securities Inc. (CRD#:44848) of Fort Lauderdale FL, and Quest Capital Strategies, Inc. (CRD#:16783) of Laguna Hills, CA. He has been in the industry since 1995. Continue reading ›

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In financial industry, two of the principal agencies tasked with ensuring the U.S. financial markets’ stability and integrity are the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC). The CFTC ensures that commodity futures and options exchanges have policies that protect investors in the market and ensure fair trading free from fraud and manipulation. CFTC & SEC Whistleblower Programs In 2010, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which established whistleblower programs for the SEC and the CFTC. Whistleblowers that report securities violations to the SEC or CFTC can receive a percentage of any recovery the government collects over $1 million in enforcement actions. Collections can include fines, disgorgement of ill-gotten gains, and restitution. The percentage of a whistleblower award can be anywhere from 10% to 30% depending on the information and assistance the whistleblower provides, the significance of the information, and whether the award will deter future fraud or violations.In financial industry, two of the principal agencies tasked with ensuring the U.S. financial markets’ stability and integrity are the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC). The CFTC ensures that commodity futures and options exchanges have policies that protect investors in the market and ensure fair trading free from fraud and manipulation. Continue reading ›

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On behalf of investors, Silver Law Group is investigating junk bonds offered by now-bankrupt Hornbeck Offshore Services. Hornbeck Offshore bonds were sold to clients when they held a D rating by Standard and Poor’s, the lowest rating possible. About Hornbeck Offshore Services Hornbeck Offshore Services calls itself a “leading provider of marine transportation services to exploration and production, oilfield service, offshore construction and military customers.” After struggling with low oil prices and significant debt, including debt sold to investors as bonds, Hornbeck filed for bankruptcy. In September, 2020 Hornbeck announced that it had emerged from Chapter 11 bankruptcy and completed a reorganization as a private company with a new board of directors. Investors in Hornbeck bonds lost their money.  On behalf of investors, Silver Law Group is investigating junk bonds offered by now-bankrupt Hornbeck Offshore Services. Hornbeck Offshore bonds were sold to clients when they held a D rating by Standard and Poor’s, the lowest rating possible.

About Hornbeck Offshore Services

Hornbeck Offshore Services calls itself a “leading provider of marine transportation services to exploration and production, oilfield service, offshore construction and military customers.” Continue reading ›

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