Discussion of securities and investment broker fraud. http://wwww.stockbrokerfraud.com/law-blog/ 2012-05-16T19:45:18-07:00 Nicholas J Guiliano contact@stockbrokerfraud.com http://wwww.stockbrokerfraud.com/law-blog/prudential-fined-for-fraud 2007-08-23T21:00:00-07:00

http://wwww.stockbrokerfraud.com/law-blog/nasaa-testimony-at-todays-arbitration-fairness-act-hearing 2007-12-26T22:00:00-07:00

http://wwww.stockbrokerfraud.com/law-blog/morgan-stanley---eastman-kodak-retiree-fraud 2008-01-19T22:00:00-07:00

http://wwww.stockbrokerfraud.com/law-blog/morgan-stanley-bond-fraud 2008-05-23T21:00:00-07:00

http://wwww.stockbrokerfraud.com/law-blog/Busted-brokers-continue-bilking-clients-at-new-firms 2008-09-02T22:00:00-07:00

http://wwww.stockbrokerfraud.com/law-blog/j.p.-turner-fined--250-000-for-failing-to-supervise-commissions-charged-on 2008-10-30T21:00:00-07:00

http://wwww.stockbrokerfraud.com/law-blog/securities-fraud-investigation-against-wall-street-firms 2008-10-30T21:00:00-07:00

http://wwww.stockbrokerfraud.com/law-blog/you-and-the-law-claims-against-your-financial-advisor---part-1- 2008-11-26T22:00:00-07:00

http://wwww.stockbrokerfraud.com/law-blog/you-and-the-law-claims-against-your-financial-advisor---part-2- 2008-11-26T22:00:00-07:00

http://wwww.stockbrokerfraud.com/law-blog/stock-broker-arbitration-claims-up-49--from-2007 2008-12-01T22:00:00-07:00

http://wwww.stockbrokerfraud.com/law-blog/lpl-investment-holdings-broker-dealer-sued-over-150-million-ponzi-scheme 2012-01-09T10:31:14-07:00

The receiver appointed to handle the fallout from one of the largest Ponzi schemes in Minnesota history has http://wwww.stockbrokerfraud.com/law-blog/morgan-stanley-fined-600k-for-failure-to-supervise-the-sale-of-structured-products 2012-01-11T10:22:24-07:00

Morgan Stanley & Co. LLC has been censured and fined $600,000 by the Financial Industry Regulatory Authority, or FINRA, for failure to supervise its stockbrokers to ensure compliance with its own guidelines regarding structured products...]]>

http://wwww.stockbrokerfraud.com/law-blog/supreme-court-declines-to-hear-case-on-finras-immunity-from-legal-action 2012-01-19T08:03:20-07:00

A purported class-action lawsuit brought by a broker-dealer against the predecessor to the http://wwww.stockbrokerfraud.com/law-blog/stockbroker-who-forged-signature-of-elderly-customer-barred-from-securities-industry- 2012-01-20T13:18:45-07:00

Former LPL Financial Corp. stockbroker Amrita Holden has been permanently barred by the http://wwww.stockbrokerfraud.com/law-blog/finra-notes-the-hazards-of-complex-products-urges-heightened-supervision 2012-01-25T09:15:26-07:00

Sometimes investors can’t help but get the feeling that stockbrokers themselves don’t understand the complex products they’re selling...]]>

http://wwww.stockbrokerfraud.com/law-blog/stockbroker-steals-more-than-800000-from-disabled-and-elderly 2012-01-27T15:30:51-07:00

Former stockbroker Ralph Edward Thomas Jr., who pleaded guilty to mail fraud in September, has been barred for life by the Financial Industry Regulatory Authority (FINRA) for conversion of more than $800,000 in customer funds to his own use...]]>

http://wwww.stockbrokerfraud.com/law-blog/sec-charges-florida-penny-stock-promoter-with-three-counts-of-securities-fraud 2012-01-30T15:48:49-07:00

Penny stock promoter First Resource Group LLC and its principal David H. Stern were charged with three counts of fraud by the http://wwww.stockbrokerfraud.com/law-blog/citigroup-global-markets-fined-725000-for-disclosure-violations 2012-01-31T14:15:51-07:00

Citigroup Global Markets Inc...]]>

http://wwww.stockbrokerfraud.com/law-blog/1st-discount-brokerage-inc-fined-by-sec-for-failure-to-supervise 2012-02-07T16:07:40-07:00

Florida-based brokerage firm 1st Discount Brokerage Inc. has been censured and fined $40,000 by the Securities and Exchange Commission (SEC) for its failure to supervise a broker who defrauded investors of nearly $9 million...]]>

http://wwww.stockbrokerfraud.com/law-blog/investors-at-risk-for-alzheimers-or-dementia-require-special-attention 2012-02-09T09:41:45-07:00

Family members may want to stay informed about this aspect of their relatives’ lives, to make sure unscrupulous financial professionals do not take advantage of senior citizens who are cognitively impaired...]]>

http://wwww.stockbrokerfraud.com/law-blog/former-wells-fargo-broker-fined-for-altering-ipo-forms-without-authorization 2012-02-13T14:45:56-07:00

A former stockbroker for Wells Fargo Advisors LLC has been fined $5,000 and suspended from the financial industry for six months for changing dates and account numbers on forms without customers' permission...]]>

http://wwww.stockbrokerfraud.com/law-blog/sec-charges-investment-adviser-with-misappropriating-funds-to-pay-for-previous-sec-settlement 2012-02-17T10:48:58-07:00

In a striking example of the ineffectiveness that can plague securities regulation, investment adviser Robert Pinkas allegedly misappropriated $800,000 from a client to pay for disgorgement and costs resulting from a previous case brought against him by the Securities and Exchange Commission (SEC)...]]>

http://wwww.stockbrokerfraud.com/law-blog/securities-broker-barred-by-finra-after-pocketing-customers-10k 2012-02-22T07:52:15-07:00

Philip Eckstein, a former MetLife Securities Inc. broker, was permanently barred from association with any members of the Financial lndustry Regulatory Authority (FINRA) after he converted $10,000 of an elderly customer's money to his own use...]]>

http://wwww.stockbrokerfraud.com/law-blog/stockbroker-faces-discipline-for-unsuitable-trading-and-switching-in-vulnerable-customers-accounts 2012-02-22T12:01:16-07:00

Clyde M. Thornburg, a former stockbroker with NEXT Financial Group Inc., was charged earlier this month with unsuitable short-term trading and switching in the accounts of elderly and unsophisticated investors...]]>

http://wwww.stockbrokerfraud.com/law-blog/broker-dealer-stone-amp;-youngberg-fined-350000-for-excessive-markups-on-cmos 2012-02-24T17:03:45-07:00

Broker-dealer Stone & Youngberg has been fined $350,000 and censured by the Financial Industry Regulatory Authority (FINRA) for charging excessive markups on trades of collateralized mortgage obligation securities (CMOs) for retail customers...]]>

http://wwww.stockbrokerfraud.com/law-blog/stockbroker-fined-10000-for-trading-in-account-of-deceased-customer 2012-02-27T15:04:30-07:00

Evidently, it slipped the mind of one New York stockbroker that dead men can't trade...]]>

http://wwww.stockbrokerfraud.com/law-blog/on-fraud-spree-broker-lies-to-firms-customers-and-regulators 2012-02-29T12:49:51-07:00

Over five years, former broker James Scott McKee defrauded the customers of the brokerage firms where he worked out of nearly $1 million, using lies and omissions to induce them to invest in various real estate ventures in which he had a direct or indirect financial interest, according to a http://wwww.stockbrokerfraud.com/law-blog/former-ceo-of-brookstreet-securities-fined-10-million-for-cmo-fraud 2012-03-05T09:40:40-07:00

A federal judge in Los Angeles has ordered Stanley C. Brooks, the former CEO of Brookstreet Securities Corp...]]>

http://wwww.stockbrokerfraud.com/law-blog/former-edward-jones-administrator-permanently-barred-for-misappropriation-of-funds 2012-03-12T14:04:04-07:00

A former Edward Jones administrator has been permanently barred from the financial industry after misappropriating a total of $63,000 from 21 customers...]]>

http://wwww.stockbrokerfraud.com/law-blog/former-world-group-securities-stockbroker-ordered-to-pay-restitution-to-customers-for-unpaid-loans 2012-03-15T08:07:01-07:00

Anthony L. Semadeni, a former stockbroker with World Group Securities, has been barred from the financial industry for two years and ordered to pay up to $60,000 in restitution plus interest to customers for borrowing money from them and never fully paying it back...]]>

http://wwww.stockbrokerfraud.com/law-blog/principal-of-cantone-research-fined-and-suspended-for-failure-to-supervise 2012-03-20T06:40:00-07:00

The Financial Industry Regulatory Authority (FINRA) has sanctioned Christine L. Cantone and her firm for their failure to supervise a broker who sold fictitious investments to customers through which he misappropriated over $1...]]>

http://wwww.stockbrokerfraud.com/law-blog/army-murder-suspect-in-afgan-massacre-former-finra-stockbroker-found-to-have-ripped-of-the-elderly 2012-03-20T09:50:37-07:00

Robert Bales, the US Army staff sergeant accused of massacring 16 Afghan civilians, was a former stockbroker, who enlisted in the U...]]>

http://wwww.stockbrokerfraud.com/law-blog/insurance-agent-gets-jail-time-for-selling-annuity-to-woman-with-dementia-- 2012-03-21T12:09:09-07:00

A California judge sentenced independent insurance agent Glenn Neasham to 90 days in jail late last month after he was convicted of felony theft for selling a complex annuity to elderly woman suffering from dementia, according to a http://wwww.stockbrokerfraud.com/law-blog/broker-sanctioned-for-selling-securities-without-firms-permission-or-proper-license 2012-03-23T12:21:28-07:00

Jimmy Wayne Freeman, a broker with Texas-based PlanMember Securities Corp., was ordered by the Texas Securities Board to pay more than $500,000 in restitution to investors after he sold them securities issued by an outside firm without his firm's permission and without holding the appropriate securities license...]]>

http://wwww.stockbrokerfraud.com/law-blog/finra-issues-alert-to-educate-investors-on-brokerage-account-statements-- 2012-03-26T15:11:42-07:00

Last month, the Financial Industry Regulatory Authority (FINRA) issued an http://wwww.stockbrokerfraud.com/law-blog/non-traded-reits-share-value-plunges-by-72-percent 2012-03-29T15:57:40-07:00

Cornerstone Core Properties REIT Inc., a non-traded real estate investment trust, has sent a letter to its shareholders bearing some bad news: The REIT's valuation has plunged from the original issue price of $8...]]>

http://wwww.stockbrokerfraud.com/law-blog/broker-sanctioned-for-getting-tangled-up-in-ponzi-scheme 2012-03-30T14:08:58-07:00

Last month Leland O. Stevens, a former broker with Great American Advisors Inc., settled a disciplinary action against him after he served up his unwitting customers to a Ponzi scheme...]]>

http://wwww.stockbrokerfraud.com/law-blog/former-metlife-securities-broker-barred-for-misappropriation 2012-04-05T13:50:06-07:00

Roland Craig Matatics, a former broker with MetLife Securities Inc. in Keene, N.H., has been permanently barred from the financial industry for misappropriating $10,000 from a customer suffering from dementia...]]>

http://wwww.stockbrokerfraud.com/law-blog/stifel-nicolaus-fined-350000-for-failure-to-supervise-scheming-broker 2012-04-10T09:12:25-07:00

Last month, brokerage firm Stifel, Nicolaus & Co. Inc. settled a disciplinary action brought against it by the http://wwww.stockbrokerfraud.com/law-blog/raymond-james-fined-400000-for-failure-to-supervise 2012-04-13T07:09:43-07:00

Raymond James Financial Services Inc. has agreed to pay a $400,000 fine to settle allegations that it failed to supervise a customer who used accounts he had with the firm to operate a multi-million-dollar Ponzi scheme...]]>

http://wwww.stockbrokerfraud.com/law-blog/broker-who-misappropriated-funds-barred-from-financial-industry 2012-04-13T11:52:33-07:00

Former broker Timothy David Cochrane has been permanently barred from the financial industry as part of a settlement of an action against him for misappropriating $600,000 in customer funds...]]>

http://wwww.stockbrokerfraud.com/law-blog/axa-advisors-fined-50k-for-failure-to-supervise-thieving-broker 2012-04-19T09:23:43-07:00

AXA Advisors LLC has been fined $50,000 by the Financial Industry Regulatory Authority (FINRA) and censured for its failure to supervise a broker who misappropriated $122,000 from the money market account of a customer, 70 percent of the account's value...]]>

http://wwww.stockbrokerfraud.com/law-blog/former-first-allied-broker-fined-for-selling-away 2012-04-20T17:41:23-07:00

Thomas R. Fortino, a former broker with First Allied Securities Inc., was fined and suspended by the http://wwww.stockbrokerfraud.com/law-blog/former-sagepoint-brokers-misappropriation-of-funds-results-in-permanent-bar 2012-05-01T14:10:23-07:00

After he misappropriated $734,000 from various customers, Joel W. Carlson, a former broker with Sagepoint Financial Inc...]]>

http://wwww.stockbrokerfraud.com/law-blog/citigroup-global-fined-2-million-for-failure-to-supervise-sales-of-non-traditional-etfs 2012-05-03T12:25:01-07:00

Citigroup Global Markets Inc. has been fined $2 million by the Financial Industry Regulatory Authority ( http://wwww.stockbrokerfraud.com/law-blog/ubs-financial-services-fined-15-million-for-failure-to-supervise-etf-sales 2012-05-04T11:00:25-07:00

UBS Financial Services Inc. has agreed to pay a $1.5 million fine after the Financial Industry Regulatory Authority (FINRA) charged the firm with failure to supervise the sale of complex financial products known as non-traditional exchange-traded funds, as well as for making unsuitable recommendations of these funds...]]>

http://wwww.stockbrokerfraud.com/law-blog/former-edward-jones-broker-suspended-for-unauthorized-trading 2012-05-09T12:43:58-07:00

Scott B. Hostutler, formerly a broker with Edward Jones, was suspended for 10 days by the Financial Industry Regulatory Authority (FINRA) for trading in a customer's account without authorization...]]>

http://wwww.stockbrokerfraud.com/law-blog/merrimac--found-liable-for-willful-violations-of-securities-laws 2012-05-11T16:55:27-07:00

After a hearing panel of the Financial Industry Regulatory Authority (