There was a time when virtually 100% of our clients were from our home town and state of Cleveland, Ohio. If a brokerage firm customer was victimized in Cleveland or its environs by a sleazy or careless stockbroker, chances are we would be the investment fraud lawyers to whom the customer turned for help. Nationwide …
Stockbroker Christopher Tolmacs was found liable in FINRA arbitration for breach of fiduciary duty, gross negligence, willful wanton misconduct, conversion of funds, securities fraud and violation of the SEC Act of 1934. He was most recently employed with Triad Advisors, Harbinger Asset Management, LLC, and Harbinger Financial Group, Inc. His recommendation of unsuitable alternative investment …
FINRA has suspended Mount Pleasant, S.C. stockbroker Mark S. Perry from associating with any brokerage firm in any capacity for a period of eighteen months. Perry was most recently employed by Independent Financial Group. Before that, he was associated with Royal Alliance Associates and Cambridge Investment Research Advisors. Perry made unsuitable investment recommendations to four …
Beachwood and Independence, Ohio – Ryan Paugh is under FINRA investigation for violating NASD Rule 3040 and FINRA Rule 3040. Paugh has been associated with J.P. Morgan Chase Securities, and Chase Investment Services. He is being investigated for soliciting 5 individuals to participate in unregistered securities allegedly bearing high interest rates. The securities were for …
Scott Newsholme, of Farmingdale New Jersey has been charged by the U.S. Securities and Exchange Commission with stealing more than $1 million from clients. Newsholme was a tax preparer and investment advisor who convinced clients to invest in securities, private ventures, and businesses. He cashed their checks and pocketed the money to support his gambling …
The firm of J.J.B. Hilliard, W.L. Lyons, LLC was investigated by FINRA for breach of fiduciary duty; negligence, negligent supervision and other securities violations. In a case involving J.J. B. Hillard’s registered representative, all of Claimants’ blue chip stocks were sold and invested in funds of highly speculative oil and gas company known as Breitburn …
Minneapolis, Minnesota – In a case recently settled in FINRA Arbitration, Mark Holt and Harbour Investments, Inc., were accused of negligence, breach of fiduciary duty, unjust enrichment, conversion, civil theft and other securities law violations. The claimant sought $1.2 million in damages. The amount of settlement was not reported. In 2014, Mark Holt defrauded multiple …
A review of the Securities and Exchange Commission’s records reveals that the SEC is pursuing claims related to four oil and gas scams in the last two months alone. The SEC complaints carry common themes: high pressure sales tactics, misrepresentations regarding the use of investor funds and the likelihood of success in drilling operations, and …
Most of us still vividly remember the housing bubble and its disastrous aftermath. The underwriting and repackaging of residential sub-prime mortgages helped drive the economy into a meltdown in 2008 and led to our worst recession since the Great Depression. The Housing Bubble But in case you need a refresher, let’s summarize. Beginning in the …
Do you have an investment account at a brokerage firm? What kind of professional handles that account? Maybe you have a “financial adviser” or a “wealth manager” or an “investment consultant” or an “account executive” or someone with a similarly high-sounding title. But here’s the truth. If your purported adviser/manager/consultant/executive is employed by a brokerage …
