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Ken Kavanagh (CRD#: 4502223) is a suspended broker who formerly worked for Morgan Stanley (CRD#: 149777) in New York City, Citigroup Global Markets (CRD#: 7059), and UBS Financial Services (CRD#: 8174). Ken Kavanaugh’s publicly-available FINRA BrokerCheck report lists 3 disclosures, including 1 customer dispute, 1 employment separation after allegations, and 1 regulatory action.Ken Kavanagh (CRD#: 4502223) is a suspended broker who formerly worked for Morgan Stanley (CRD#: 149777) in New York City, Citigroup Global Markets (CRD#: 7059), and UBS Financial Services (CRD#: 8174).

Ken Kavanaugh’s publicly-available FINRA BrokerCheck report lists 3 disclosures, including 1 customer dispute, 1 employment separation after allegations, and 1 regulatory action. Continue reading ›

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Dexter ThomasDexter Thomas (CRD# 1074222) was a broker who formerly worked for LPL Financial (CRD# 6413) in Dallas, Texas, United Planners Financial Services of America (CRD# 20804), National Planning Corporation (CRD# 29604), Invest Financial Corporation (CRD# 12984), AIG Financial Advisors (CRD# 133763), Sunamerica Securities (CRD# 20068), and others. Silver Law Group represents investors in arbitration claims against LPL Financial. (CRD# 1074222) was a broker who formerly worked for LPL Financial (CRD# 6413) in Dallas, Texas, United Planners Financial Services of America (CRD# 20804), National Planning Corporation (CRD# 29604), Invest Financial Corporation (CRD# 12984), AIG Financial Advisors (CRD# 133763), Sunamerica Securities (CRD# 20068), and others.

Silver Law Group represents investors in arbitration claims against LPL Financial. Continue reading ›

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Bobby Coburn (CRD# 1464789) is a barred broker who formerly worked for Securities America, Inc. (CRD# 10205) in Fort Meade, FL. He previously worked for Brecek & Young Advisors (CRD# 40395), Legend Equities Corporation (CRD# 30999), Nationwide Securities (CRD# 11173), and others.Bobby Coburn (CRD# 1464789) is a barred broker who formerly worked for Securities America, Inc. (CRD# 10205) in Fort Meade, FL. He previously worked for Brecek & Young Advisors (CRD# 40395), Legend Equities Corporation (CRD# 30999), Nationwide Securities (CRD# 11173), and others.

Silver Law Group represents investors in arbitration claims against Securities America, which is a subsidiary of Ladenburg Thalmann. Continue reading ›

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Nicolas Barrios (CRD#: 2122824) is a currently-barred broker who formerly worked for UBS Financial Services (CRD#: 8174) in Winter Haven, Florida, Wachovia Securities (CRD#: 19616), First Union Brokerage Services (CRD#: 8112), and Merrill Lynch, Pierce, Fenner & Smith (CRD#: 7691).Nicolas Barrios (CRD#: 2122824) is a currently-barred broker who formerly worked for UBS Financial Services (CRD#: 8174) in Winter Haven, Florida, Wachovia Securities (CRD#: 19616), First Union Brokerage Services (CRD#: 8112), and Merrill Lynch, Pierce, Fenner & Smith (CRD#: 7691).

Silver Law Group represents investors in arbitration claims against UBS Financial Services. Our Florida investment fraud attorneys can represent you on a contingency fee basis. Continue reading ›

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Mercer Hicks III (CRD#: 245170, a/k/a “Mercer Hicks,” “Toby Mercer Hicks III,” or “Toby Hicks III”) is a currently registered broker and formerly registered investment advisor currently employed with Southeast Investments, N.C., INC. (CRD#: 43035) of Charlotte, NC. His previous employers include Capital Investment Group, Inc. (CRD#:14752) and Cantella & Co., Inc. (CRD#:13905), both of Pinehurst, NC, and American Investment Services, Inc. (CRD#:21111, expelled by FINRA in 2003) of Oklahoma City, OK. He has been in the industry since 1972.Mercer Hicks III (CRD#: 245170, a/k/a “Mercer Hicks,” “Toby Mercer Hicks III,” or “Toby Hicks III”) is a currently registered broker and formerly registered investment advisor currently employed with Southeast Investments, N.C., INC. (CRD#: 43035) of Charlotte, NC. His previous employers include Capital Investment Group, Inc. (CRD#:14752) and Cantella & Co., Inc. (CRD#:13905), both of Pinehurst, NC, and American Investment Services, Inc. (CRD#:21111, expelled by FINRA in 2003) of Oklahoma City, OK. He has been in the industry since 1972. Continue reading ›

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Over the past few years, GPB Capital missed key Securities and Exchange Commission (“SEC”) filing deadlines, announced that some of its financial statements can no longer be relied upon, was raided by the FBI and New York City Business Integrity Commission, had one of its insiders criminally indicted, and is the subject of several civil lawsuits arising from its business practices, including a class action. The only thing missing are formal SEC charges against GPB.Over the past few years, GPB Capital missed key Securities and Exchange Commission (“SEC”) filing deadlines, announced that some of its financial statements can no longer be relied upon, was raided by the FBI and New York City Business Integrity Commission, had one of its insiders criminally indicted, and is the subject of several civil lawsuits arising from its business practices, including a class action. The only thing missing are formal SEC charges against GPB.

Based on the foregoing, it should not be long before the SEC takes action, especially given the gravity of the allegations already looming against GPB in other lawsuits. Continue reading ›

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A class-action complaint was filed in a Texas federal court on October 25, 2019 against GPB Capital and its principals and affiliates as well as nearly 80 broker-dealers. The basis of the lawsuit is “improper conduct in selling securities . . . at the direction of GPB Capital.” Specifically, the suit alleges that the defendants knowingly made misstatements and omissions in communications with potential investors that they were engaged in a massive Ponzi scheme.A class-action complaint was filed in a Texas federal court on October 25, 2019 against GPB Capital and its principals and affiliates as well as nearly 80 broker-dealers. The basis of the lawsuit is “improper conduct in selling securities . . . at the direction of GPB Capital.” Specifically, the suit alleges that the defendants knowingly made misstatements and omissions in communications with potential investors that they were engaged in a massive Ponzi scheme.

For the most part, the complaint lays out in great detail what we already know: GPB engaged in an asset management strategy that was fraudulent and “destined to fail” and GPB’s scheme was carried out by broker-dealers who blindly recommended the investment in exchange for high commission payments. Per previous articles, the selling broker-dealers ignored the best interests of their clients and pocketed millions of dollars in the process. Continue reading ›

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Silver Law Group recently filed FINRA arbitration claims against a broker-dealer for the recommendation and sale of an unsuitable Regulation D (“Reg D”) private placement. The broker-dealer marketed the investment as having huge upside because the company’s initial public offering (“IPO”) was coming up. However, despite repeated promises to customers, the IPO never came and customers’ investments are now worthless.Silver Law Group recently filed FINRA arbitration claims against a broker-dealer for the recommendation and sale of an unsuitable Regulation D (“Reg. D”) private placement. The broker-dealer marketed the investment as having huge upside because the company’s initial public offering (“IPO”) was coming up. However, despite repeated promises to customers, the IPO never came and customers’ investments are now worthless.

The suit alleges that much of the company’s marketing materials was designed to mislead investors into believing the company was profitable and poised for a lucrative IPO. The broker-dealer failed to conduct adequate due diligence on the company and passed this false or misleading information along to its customers. The broker-dealer turned a blind eye to the risks its customers faced because it received a high commission for the capital raised. Continue reading ›

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The Securities and Exchange Commission (SEC) announced that it has taken emergency action to stop an alleged $6 million Ponzi scheme that took money from at least 55 people, many of whom are seniors. The SEC obtained a temporary asset freeze and restraining order against Neil Burkholz of Boca Raton, Florida, and Frank Bianco, of Pembroke Pines, Florida and their companies Palm Financial Management LLC and Shore Management Systems LLC.The Securities and Exchange Commission (SEC) announced that it has taken emergency action to stop an alleged $6 million Ponzi scheme that took money from at least 55 people, many of whom are seniors.

The SEC obtained a temporary asset freeze and restraining order against Neil Burkholz of Boca Raton, Florida, and Frank Bianco, of Pembroke Pines, Florida and their companies Palm Financial Management LLC and Shore Management Systems LLC. Continue reading ›

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Benjamin Benoit Lowder Jr. (CRD: #3014106) is a former registered broker whose last employer was MSI Financial Services, Inc. (CRD#:14251) of Charlotte, NC. He was previously employed with Metropolitan Life Insurance Company (CRD#:4095), also of Charlotte, NC, and Jefferson Pilot Securities Corporation (CRD#:3870) of Fort Wayne, IN. He has been in the industry since 1998.Benjamin Benoit Lowder Jr. (CRD: #3014106) is a former registered broker whose last employer was MSI Financial Services, Inc. (CRD#:14251) of Charlotte, NC. He was previously employed with Metropolitan Life Insurance Company (CRD#:4095), also of Charlotte, NC, and Jefferson Pilot Securities Corporation (CRD#:3870) of Fort Wayne, IN. He has been in the industry since 1998.

Lowder has eight disclosures, seven of which are customer disputes with the same allegations in the FINRA investigation. The first dispute filed was on 4/30/2018, and the most recent filed on 7/1/2009. All but one of these customer disputes filed with FINRA request damages of $25,000.01. Continue reading ›

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