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Articles Tagged with First Nationle Solution

Back in June, we told you about five former brokers charged by the SEC when the agency shut down their Ponzi scheme worth $102 million.

What-Keeps-a-Ponzi-Scheme-Running-300x200Scott Silver recently spoke with Jennifer Cefalu of WHEC News in Rochester, NY, where two of the suspects lived and the scheme originated. The scheme was run by Perry Santillo, Jr. and Chris Parris, with Santillo headlining.

Santillo, Parris and three others recruited their investors by word of mouth, after buying client lists from brokers. Ultimately, 637 people were defrauded, many in the Rochester area. The entities they represented were not registered with any federal agency like the SEC or FINRA, nor were any of them registered brokers or investment advisors.

Our attorneys currently represent customers of Jon Pariser against Independent Financial Group for losses related to First Nationle Solution. Jon Richard Pariser (CRD #2755015) is a former registered broker whose last employer was Independent Financial Group, LLC (CRD #7717) of Pacific Grove, CA. His previous employers include SWS Financial Services, INC. (CRD #17587) and LPL Financial LLC (CRD #6413), also of Pacific Grove, CA. No current employment information is available. He has been in the industry since 1996.

South-Florida-Broker-Brian-Michael-Berger-Permanently-Barred-by-FINRA-1024x683-300x200Pariser is barred in all capacities after he failed to provide requested information to FINRA for an investigation. The documentation relates to allegations that he referred some of his customers to an individual who was not a registered FINRA broker. This unregistered individual and may have recommended to or actually sold these customers “potentially unsuitable” securities. Pariser violated FINRA Rules 8210 and 2010 by refusing to provide this requested documentation, which led to him being barred. He signed an Acceptance, Waiver & Consent (AWC) letter consenting to the sanctions, and he is barred effective 10/04/2018.

His next disclosure is an employment separation from SWS Financial Services on 6/20/2014, which is connected by a closed customer dispute filed four days earlier, involving “unauthorized discretion.” The allegations state that “during the course of normal e-mail correspondence review, firm supervisors discovered an e-mail message from the customer containing language indicating that the representative may have engaged in unauthorized discretionary trading.”

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