Cornelius Peterson a Former Boston Morgan Stanley Broker, Barred By the SEC
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On 7/18/18, Investment News reported that a former Morgan Stanley Financial Advisor who allegedly took $450,000 from clients was barred by the Securities and Exchange Commission (SEC). Cornelius Peterson was previously employed by Morgan Stanley in Boston, Massachusetts from 2011-2017. Peterson was terminated by Morgan Stanley in 2017 and later subject to a Financial Industry Regulatory Authority (FINRA) proceeding. Also see FINRA Brokercheck for more information. If you are an investor who suffered losses with Peterson, or Morgan Stanley, contact an experienced investment fraud attorney at Investment Loss Recovery Group for a no-cost consultation and review, handling cases nationwide.
Kimberly Pine Kitts a Cape Cod Financial Advisor Charged With Defrauding Multiple Clients
On 7/20/18 ThinkAdvisor reported that the Securities and Exchange Commission (SEC) charged a Financial Advisor who allegedly stole $3 million from clients. Kimberly Pine Kitts was a Cape Cod, Massachusetts area Financial Advisor charged with defrauding multiple clients. She was previously employed by Royal Alliance Associates, Inc. and she was the subject of a Financial Industry Regulatory Authority (FINRA) regulatory matter in 2017. See FINRA Brokercheck for more information. FINRA requires brokers and brokerage firms to publicly disclose reportable events (including material customer complaints, IRS tax liens, judgments, certain criminal matters, etc.) on the Central Registration Depository (CRD) system. Supervisory responsibilities on the part of the firms are a critical component of the securities regulatory scheme. Firms and supervisors cannot ignore red flags and they have responsibilities to detect and prevent improper activity. If you are an investor who suffered losses with Kitts, or Royal Alliance, or if you have any questions related to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
Jerry Raines a H.D. Vest Broker Allegedly Sold Woodbridge Investments
Jerry Raines, a Financial Consultant previously registered with H.D. Vest Investment Services in Kilgore, Texas, is the subject of multiple customer complaints relating to alleged sales of Woodbridge Group and Woodbridge Mortgage investments. Financial Industry Regulatory Authority (FINRA) requires brokers and brokerage firms to publicly disclose reportable events (including material customer complaints, IRS tax liens, judgments, certain criminal matters, etc.) on the Central Registration Depository (CRD) system. Also see FINRA Brokercheck. Brokerage firms owe a duty to investor clients to properly supervise and monitor their employees. Supervisory responsibilities on the part of the firms are a critical component of the securities regulatory scheme. Firms and supervisors cannot ignore red flags and they have responsibilities to detect and prevent improper activity. If you are an investor who suffered losses with Raines, Woodbridge, or H.D. Vest, or if you have any questions related to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
KBS REIT II Price Drop
Non-traded Real Estate Investment Trust (REIT) investment KBS REIT II was originally believed to be offered at $10/unit, and has most recently traded for approximately $4.10/unit. This drop in price may represent a significant loss for some investors. Brokers and brokerage firms have legal and regulatory obligations to make suitable recommendations to investor clients. If you are an investor who suffered losses in non-traded reits including KBS REIT II, or in any way relating to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
MVP REIT II, Inc. Price Drop
Non-traded Real Estate Investment Trust (REIT) investment MVP REIT II, Inc. was originally believed to be offered at $25/unit, and has most recently traded for approximately $14.01/unit. This drop in price may represent a significant loss for some investors. Brokers and brokerage firms have legal and regulatory obligations to make suitable recommendations to investor clients. If you are an investor who suffered losses in non-traded reits including MVP REIT II, Inc., or in any way relating to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
UNIPROP MHC INCOME FUND II, LP Price Drop
Real Estate Investment Trust (REIT) investment UNIPROP MHC Income Fund II, LP was originally believed to be offered at $20/unit, and has most recently traded for approximately $7.85/unit. This drop in price may represent a significant loss for some investors. Brokers and brokerage firms have legal and regulatory obligations to make suitable recommendations to investor clients. If you are an investor who suffered losses in reits including UNIPROP MHC Income Fund, or in any way relating to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
Frank Zito a Merrill Lynch Broker Involved in Selling Away
Frank Zito, a financial consultant previously registered with Merrill Lynch in Ridgeland, MS. It appears Zito was discharged by Merrill Lynch in 2018 based on an alleged failure to adhere to firm standards relating to selling away and outside business activity issues. See Financial Industry Regulatory Authority (FINRA) Brokercheck for more information. FINRA requires brokers and brokerage firms to publicly disclose reportable events (including material customer complaints, IRS tax liens, judgments, certain criminal matters, etc.) on the Central Registration Depository (CRD) system. Brokerage firms owe a duty to investor clients to properly supervise and monitor their employees. Supervisory responsibilities on the part of the firms are a critical component of the securities regulatory scheme. Firms and supervisors cannot ignore red flags and they have responsibilities to detect and prevent improper activity. Brokers and brokerage firms have legal and regulatory obligations to make suitable recommendations to investor clients. If you are an investor who suffered losses with Zito, Merrill Lynch, or in any way relating to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
Robert Yasnis a NY Worden Capital Broker Alleged Unsuitable Investment Recommendations
Robert Yasnis, a financial consultant registered with Worden Capital Management in NY, NY, and previously registered with Laidlaw & Co. in Melville, New York has one or more customer complaint disclosures relating to alleged sales of unsuitable investments and/or churning. See FINRA brokercheck for more information. Financial Industry Regulatory Authority (FINRA) requires brokers and brokerage firms to publicly disclose reportable events (including material customer complaints, IRS tax liens, judgments, certain criminal matters, etc.) on the Central Registration Depository (CRD) system. Brokerage firms owe a duty to investor clients to properly supervise and monitor their employees. Supervisory responsibilities on the part of the firms are a critical component of the securities regulatory scheme. Firms and supervisors cannot ignore red flags and they have responsibilities to detect and prevent improper activity. Brokers and brokerage firms have legal and regulatory obligations to make suitable recommendations to investor clients. If you are an investor who suffered losses with Yasnis, Worden Capital, or Laidlaw & Co., or in any way relating to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
Charles Doraine a NEXT Financial Broker Alleged Unsuitable Investment Recommendations
Charles Doraine, a Financial Consultant registered with NEXT Financial Group in Corpus Christi, TX is believed to be the subject of a customer complaint alleging damages of $2.5 million based on unsuitable mutual fund transactions. The dispute appears to still be pending. See FINRA brokercheck for more information and status updates. Financial Industry Regulatory Authority (FINRA) requires brokers and brokerage firms to publicly disclose reportable events (including material customer complaints, IRS tax liens, judgments, certain criminal matters, etc.) on the Central Registration Depository (CRD) system. Brokerage firms owe a duty to investor clients to properly supervise and monitor their employees. Supervisory responsibilities on the part of the firms are a critical component of the securities regulatory scheme. Firms and supervisors cannot ignore red flags and they have responsibilities to detect and prevent improper activity. Brokers and brokerage firms have legal and regulatory obligations to make suitable recommendations to investor clients. If you are an investor who suffered losses with Doraine or NEXT Financial Group, or in any way relating to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
Andrew Corbman a Newbridge Broker Alleged Unsuitable Investment Recommendations
Andrew Corbman a Financial Consultant previously registered with Newbridge Securities, and prior to that registered with Kovack Securities in Lansdowne, MD appears to be the subject of one or more customer complaints alleging unsuitable recommendations. See FINRA brokercheck for more information. Brokerage firms owe a duty to investor clients to properly supervise and monitor their employees. Supervisory responsibilities on the part of the firms are a critical component of the securities regulatory scheme. Firms and supervisors cannot ignore red flags and they have responsibilities to detect and prevent improper activity. If you are an investor who suffered losses with Corbman, Kovack Securities, or Newbridge Securities relating to unsuitable recommendations, or if you have any questions related to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
Jeffrey Eglow a Boca Raton Newbridge Securities Broker Alleged Over-Concentration in UIT or Energy Securities
Jeffrey Eglow, a financial consultant with Newbridge Securities in Boca Raton, FL and previously registered with SunTrust Investment Services in Delray Beach, FL has been the subject of one or more customer complaint disclosures relating to over-concentration and/or UIT or energy securities. See FINRA Brokercheck for more information. Supervisory responsibilities on the part of the firms are a critical component of the securities regulatory scheme. Firms and supervisors cannot ignore red flags and they have responsibilities to detect and prevent improper activity. If you are an investor who suffered losses with Eglow, SunTrust or Newbridge relating to UIT, energy securities, or if you have any questions related to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
Donald S. Woods a Louisville KY LPL Financial Advisor Alleged Unsuitable Investment Recommendations
Donald S. Woods, a financial consultant registered with Thurston, Springer in Louisville, KY and previously registered with LPL Financial in Louisville, KY, appears to be the subject of one or more customer complaints alleging unsuitable recommendations and other allegations. See FINRA brokercheck. Financial Industry Regulatory Authority (FINRA) requires brokers and brokerage firms to publicly disclose reportable events (including material customer complaints, IRS tax liens, judgments, certain criminal matters, etc.) on the Central Registration Depository (CRD) system. Brokers and brokerage firms have legal and regulatory obligations to make suitable recommendations to investor clients. This generally requires that any recommendation have a reasonable basis based on due diligence and investigation into the investment, as well as must be appropriate for the investor based on the client’s retirement status, financial goals and objectives, age, income and financial situation, and other relevant factors. If you are an investor who suffered losses with Woods, Thurston, Springer or LPL Financial relating to unsuitable recommendations, or if you have any questions related to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
Mustaque Choudhury a NYLife Securities Broker Resigns Amid Investigation
Mustaque Choudhury, a financial consultant previously registered with NY Life Securities in Lake Success, NY appears to have voluntarily resigned during an investigation related to handling of annuity applications and other matters. See FINRA brokercheck. Financial Industry Regulatory Authority (FINRA) requires brokers and brokerage firms to publicly disclose reportable events (including material customer complaints, IRS tax liens, judgments, certain criminal matters, etc.) on the Central Registration Depository (CRD) system. If you are an investor who suffered losses with Choudhury, or NY Life Securities relating to annuity transactions, or if you have any questions related to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
William Kaczmarek a Questar Capital (formerly Cetera Advisor) broker Investigated Regarding Annuity Sales and Subject of a Customer Complaint Alleging Unsuitable Investment Recommendations
William Bill Kaczmarek, a financial consultant registered with Questar Capital Corp. in Delavan, WI and previously registered with Cetera Advisor Networks in Delavan, WI appears to be the subject of one or more disclosures noting that the WI department of insurance is investigating activities including annuity sales as well as a disclosure reflecting a previous customer complaint alleging (among other things) unsuitable recommendations. See FINRA brokercheck. Financial Industry Regulatory Authority (FINRA) requires brokers and brokerage firms to publicly disclose reportable events (including material customer complaints, IRS tax liens, judgments, certain criminal matters, etc.) on the Central Registration Depository (CRD) system. Brokers and brokerage firms have legal and regulatory obligations to make suitable recommendations to investor clients. This generally requires that any recommendation have a reasonable basis based on due diligence and investigation into the investment, as well as must be appropriate for the investor based on the client’s retirement status, financial goals and objectives, age, income and financial situation, and other relevant factors. If you are an investor who suffered losses with Kaczmarek, Questar Capital, or Cetera relating to annuities, unsuitable recommendations, or if you have any questions related to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
Luis Marquez a Laidlaw & Co. (formerly Dawson James) broker Allegedly Made Unsuitable Investment Recommendations
Luis Marquez, a financial consultant registered with Laidlaw & Co. in Boca Raton, FL and previously registered with Dawson James Securities in Boca Raton, FL appears to be the subject of one or more customer complaints involving unsuitable investments. See FINRA brokercheck for more information. Financial Industry Regulatory Authority (FINRA) requires brokers and brokerage firms to publicly disclose reportable events (including material customer complaints, IRS tax liens, judgments, certain criminal matters, etc.) on the Central Registration Depository (CRD) system. Brokerage firms owe a duty to investor clients to properly supervise and monitor their employees. Supervisory responsibilities on the part of the firms are a critical component of the securities regulatory scheme. Firms and supervisors cannot ignore red flags and they have responsibilities to detect and prevent improper activity. Brokers and brokerage firms have legal and regulatory obligations to make suitable recommendations to investor clients. This generally requires that any recommendation have a reasonable basis based on due diligence and investigation into the investment, as well as must be appropriate for the investor based on the client’s retirement status, financial goals and objectives, age, income and financial situation, and other relevant factors. If you are an investor who suffered losses with Marquez, Laidlaw, or Dawson James relating to unsuitable investments, or if you have any questions related to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
Jonathan Ebel a Laidlaw & Co. (formerly Rockwell Global Capital) Broker Alleged To Have Made Unsuitable Investment Recommendations
Jonathan Ebel, a financial consultant registered with Laidlaw & Co. in Melville, NY and previously registered with Rockwell Global Capital in Melville, NY appears to be the subject of one or more public disclosures including either a tax lien issue or customer complaint alleging unsuitable recommendations. See FINRA brokercheck. Financial Industry Regulatory Authority (FINRA) requires brokers and brokerage firms to publicly disclose reportable events (including material customer complaints, IRS tax liens, judgments, certain criminal matters, etc.) on the Central Registration Depository (CRD) system. Brokers and brokerage firms have legal and regulatory obligations to make suitable recommendations to investor clients. This generally requires that any recommendation have a reasonable basis based on due diligence and investigation into the investment, as well as must be appropriate for the investor based on the client’s retirement status, financial goals and objectives, age, income and financial situation, and other relevant factors. If you are an investor who suffered losses with Ebel, Laidlaw, or Rockwell Global Capital, or if you have any questions related to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
Former Stifel a Nicolaus (and former Oppenheimer & Co.) Broker Allegedly Involved in Elder Fraud Scheme
On 7/25/18 OnWallStreet reported that an ex-Stifel, Nicolaus & Co. (in Boca Raton, FL) financial advisor was barred by FINRA regulators over an alleged elder fraud involving $200,000. Mitchell Toby Yanow was employed in the Boca Raton, FL office of Stifel, Nicolaus when he was discharged in 2018 and he was previously registered with Oppenheimer & Co. in Palm Beach Gardens, FL. The alleged elder fraud scheme involved a purported use of blank checks from an 87-year old client’s account which has now left the client unable to pay his caregivers. It also appears that some of the funds were allegedly used for Yanow’s personal expenses including a 1976 Corvette, children’s summer camp and other personal expenses. See FINRA Brokercheck for more information. If you are an investor who suffered losses with Yanow, Stifel, Nicolaus, or Oppenheimer & Co., or if you have any questions related to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
David Barber a Former Madison Avenue Broker Alleged to Have Engaged in Unauthorized Trading
David Barber, a financial consultant previously registered with Madison Avenue Securities in San Diego, CA and prior to that registered with First Midwest Securities in Newport Beach, CA, appears to be the subject of one or more customer complaints and/or regulatory matters involving alleged unauthorized trading. See FINRA brokercheck. Financial Industry Regulatory Authority (FINRA) requires brokers and brokerage firms to publicly disclose reportable events (including material customer complaints, IRS tax liens, judgments, certain criminal matters, etc.) on the Central Registration Depository (CRD) system. If you are an investor who suffered losses with Barber, Madison Avenue Securities, or First Midwest Securities, relating to unauthorized trading, or if you have any questions related to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
Joshua Ellis a LPL Financial Advisor Was Discharged
Joshua Ellis a financial consultant previously registered with LPL Financial in Kennesaw, GA was discharged by the firm in 2017. Brokers and brokerage firms have legal and regulatory obligations to make suitable recommendations to investor clients. This generally requires that any recommendation have a reasonable basis based on due diligence and investigation into the investment, as well as must be appropriate for the investor based on the client’s retirement status, financial goals and objectives, age, income and financial situation, and other relevant factors. If you are an investor who suffered losses with Ellis or LPL Financial, or if you have any questions related to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
Lawrence Fawcett, Jr. a Westpark Capital Stockbroker Discharged
Lawrence Fawcett, Jr. a financial consultant registered with Westpark Capital, Inc. in Los Angeles, CA appears to have been discharged by that firm in 2018, and may also be the subject of a FINRA regulatory disclosure and bar as well. See FINRA brokercheck. Financial Industry Regulatory Authority (FINRA) requires brokers and brokerage firms to publicly disclose reportable events (including material customer complaints, IRS tax liens, judgments, certain criminal matters, etc.) on the Central Registration Depository (CRD) system. Brokers and brokerage firms have legal and regulatory obligations to make suitable recommendations to investor clients. This generally requires that any recommendation have a reasonable basis based on due diligence and investigation into the investment, as well as must be appropriate for the investor based on the client’s retirement status, financial goals and objectives, age, income and financial situation, and other relevant factors. If you are an investor who suffered losses with Fawcett or Westpark Capital, or if you have any questions related to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
Gary Basralian, a Royal Alliance Financial Advisor Resigned From Firm
Gary Basralian, a financial consultant previously registered with Royal Alliance Associates, Inc. in Maplewood, NJ appears to have resigned from the firm in 2017, and then in 2018 was subject to a FINRA regulatory disclosure. See FINRA brokercheck. Financial Industry Regulatory Authority (FINRA) requires brokers and brokerage firms to publicly disclose reportable events (including material customer complaints, IRS tax liens, judgments, certain criminal matters, etc.) on the Central Registration Depository (CRD) system. Brokers and brokerage firms have legal and regulatory obligations to make suitable recommendations to investor clients. This generally requires that any recommendation have a reasonable basis based on due diligence and investigation into the investment, as well as must be appropriate for the investor based on the client’s retirement status, financial goals and objectives, age, income and financial situation, and other relevant factors. If you are an investor who suffered losses with Basralian or Royal Alliance, or if you have any questions related to the handling of your investment portfolio please contact the Investment Loss Recovery Group at 1-800-856-3352 or through our online form for a no-cost consultation and review, handling cases nationwide.
