{"id":2550,"date":"2017-03-14T00:00:00","date_gmt":"2017-03-14T04:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/donald-toomer-microcap-fraud-allegations\/"},"modified":"2018-10-08T12:37:42","modified_gmt":"2018-10-08T16:37:42","slug":"donald-toomer-microcap-fraud-allegations","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/donald-toomer-microcap-fraud-allegations\/","title":{"rendered":"Former Las Vegas Wells Fargo Broker Donald S. Toomer Allegedly Received Kickbacks for Selling Microcap Stocks"},"content":{"rendered":"<\/p>\n<p>Silver Law Group is investigating former Las Vegas, Nevada-based <a href=\"https:\/\/brokercheck.finra.org\/firm\/summary\/11025\" target=\"_blank\">Wells Fargo Advisors Financial Network, LLC (CRD# 11025)<\/a> broker <a href=\"https:\/\/brokercheck.finra.org\/individual\/summary\/2842723\" target=\"_blank\">Donald S. Toomer (CRD# 2842723)<\/a> after he was discharged by Wells Fargo and named in an SEC and criminal complaint over allegations that he sold microcap stocks to his customers in exchange for cash kickbacks.<\/p>\n<p>On December 21, 2015, a criminal charge was filed against Toomer charging him with conspiracy to commit securities fraud and investment adviser fraud, investment adviser fraud, and securities fraud.\u00a0 The same day, the <a href=\"https:\/\/www.sec.gov\/news\/pressrelease\/2015-286.html\" target=\"_blank\">SEC announced civil charges<\/a> against Toomer when it amended its initial complaint.\u00a0 Wells Fargo subsequently allowed Toomer to resign following the allegations, according to Toomer\u2019s FINRA BrokerCheck report.<\/p>\n<p>According to the <a href=\"https:\/\/www.sec.gov\/litigation\/complaints\/2015\/comp-pr2015-286.pdf\" target=\"_blank\">SEC amended complaint<\/a> (the \u201cComplaint\u201d), the SEC alleges Toomer abused his role as financial advisor to help create the false appearance of market demand in four microcap stocks: BioNeutral Group, Inc. (\u201cBONU\u201d); NXT Nutritionals Holdings, Inc. (\u201cNXTH\u201d); Mesa Energy Holdigns, Inc. (\u201cMSEH\u201d); and Clear-Lite Holdings, Inc. (\u201cCLRH\u201d) (collectively, the \u201cIssuers\u201d).<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.silverlaw.com\/blog\/donald-toomer-microcap-fraud-allegations\/\"  title=\"Continue Reading Former Las Vegas Wells Fargo Broker Donald S. Toomer Allegedly Received Kickbacks for Selling Microcap Stocks\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Silver Law Group is investigating former Las Vegas, Nevada-based Wells Fargo Advisors Financial Network, LLC (CRD# 11025) broker Donald S. Toomer (CRD# 2842723) after he was discharged by Wells Fargo and named in an SEC and criminal complaint over allegations that he sold microcap stocks to his customers in exchange for cash kickbacks. On December [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[580],"tags":[184,185,186],"class_list":["post-2550","post","type-post","status-publish","format-standard","hentry","category-stockbroker-misconduct","tag-donald-s-toomer","tag-microcap-fraud","tag-wells-fargo-advisors-financial-network"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Former Las Vegas Wells Fargo Broker Donald S. Toomer Allegedly Received Kickbacks for Selling Microcap Stocks &#8212; Securities Arbitration Lawyers Blog &#8212; March 14, 2017<\/title>\n<meta name=\"description\" content=\"If you lost money investing with Donald S. Toomer and Wells Fargo Advisors Financial Network, contact our firm to learn how you can try to recover.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/donald-toomer-microcap-fraud-allegations\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Former Las Vegas Wells Fargo Broker Donald S. Toomer Allegedly Received Kickbacks for Selling Microcap Stocks &#8212; Securities Arbitration Lawyers Blog &#8212; March 14, 2017\" \/>\n<meta name=\"twitter:description\" content=\"If you lost money investing with Donald S. Toomer and Wells Fargo Advisors Financial Network, contact our firm to learn how you can try to recover.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Former Las Vegas Wells Fargo Broker Donald S. Toomer Allegedly Received Kickbacks for Selling Microcap Stocks &#8212; Securities Arbitration Lawyers Blog &#8212; March 14, 2017","description":"If you lost money investing with Donald S. 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Toomer and Wells Fargo Advisors Financial Network, contact our firm to learn how you can try to recover.","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/donald-toomer-microcap-fraud-allegations\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/donald-toomer-microcap-fraud-allegations\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"Former Las Vegas Wells Fargo Broker Donald S. Toomer Allegedly Received Kickbacks for Selling Microcap Stocks","datePublished":"2017-03-14T04:00:00+00:00","dateModified":"2018-10-08T16:37:42+00:00","mainEntityOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/donald-toomer-microcap-fraud-allegations\/"},"wordCount":486,"keywords":["Donald S. 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