Articles Tagged with Boca Raton

According to the Financial Industry Regulatory Authority (FINRA), Boca Raton, Florida-based Dawson James Securities broker Peter Ruggiere has received resolved or pending customer disputes. Mr. Ruggiere allegedly misrepresented material facts related to investments in preferred stock products, recommended unsuitable investments and used margin against the customer’s interest, made unsuitable investment recommendations, executed unauthorized trades, and churned investments. This is sometimes referred to as excessive trading, and is a particularly egregious form of broker misconduct, where the broker trades in and out of stocks in order to generate large commissions for himself. It typically results in unnecessary fees for the client, and is against securities laws and internal firm rules and regulations.

All of the above mentioned are against securities laws and firms like Dawson James can be held liable for losses suffered with their brokers on a contingency fee basis in the arbitration forum.

According to FINRA BrokerCheck records available online, Peter Ruggiere was previously registered with Josephthal Lyon & Ross Inc. in New York, New York from June 1992 until June 1994, Joseph Charles & Associates in Boca Raton, Florida from June 1994 until November 2000, Newbridge Securities Corp in Boca Raton from November 2000 until July 2007 and Capital Growth Financial in Boca Raton from July 2007 until February 2008. He is currently registered with Dawson James Securities in Boca Raton, and has been since February 2008. He has four customer disputes against him, three of which are currently pending and one criminal final disposition.

AdobeStock_112465076-1-300x164According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Larry Wolfe was accused of exercising discretion in the accounts of 39 customers without obtaining prior written authorization from the customers or written approval of the accounts as discretionary from his member firm, HJS. This is against securities rules and occurred from November 10, 2015 until November 16, 2015. For this misconduct, he was fined $5,000 and suspended from the industry for 15 business days. According to his online FINRA BrokerCheck report, Wolfe was registered with Swanton Securities, Hanauer, Stern & Co., Bevill, Bresler & Schulman Inc., Drexel Burnham Lambert, EF Hutton, Shearson Lehman Hutton, Raymond James, The GMS Group, Herbert J. Sims & Co. in Boca Raton, Florida from March 2000 until January 2016 and Aegis Capital. He has 12 customer disputes against him, five of which are currently pending. He is currently registered with Stoever, Glass & Co. in Boca Raton and has been since May 2016. Please call our securities law offices today to find out how you may be able to sue your brokerage firm on a contingency fee basis if you have investment losses.

Larry Wolfe, a former registered representative with Herbert J. Sims, was recently terminated by the firm for alleged exercised discretion, in a non-discretionary account, in making trades for an account without speaking with the client before the trades. He was also alleged to have made unauthorized trades, unsuitable investment recommendations, fraudulent misrepresentations and omissions of material information. These are all against securities rules. If you or someone you know invested money with Larry Wolfe, please call our Chicago-based securities law firm today to speak to an attorney for free. We can discuss your options of suing his former firm, Herbert J. Sims, in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis to recover your financial losses. The firm had a duty to reasonably supervise Wolfe while he was employed there, and they did not, so they can be liable for losses.

According to his FINRA BrokerCheck report, Wolfe was registered with Swanton Securities, Hannauer, Stern & Co., Befill, Bresler & Schulman Inc., Drexel Burnham Lambert Inc., EF Hutton & Co., Shearson Lehman Hutton, Raymond James, The GMS Group, Herbert J. Sims in Boca Raton, Florida from March 2000 until January 2016 and Aegis Capital. He is currently registered with Stoever, Glass & Co. in Boca Raton and has been since May 2015. He has eight customer disputes against him, one of which is currently pending.

The Financial Industry Regulatory Authority (FINRA) recently charged two Boca Raton, Florida firms, Newbridge Securities and Shearson Financial Services, for securities violations that resulted in customers losing money. Newbridge Securities Corp allegedly failed to apply discounts to certain purchases. These discounts were supposed to be applied to sales charges, and as a result, clients paid more than $172,000 in excess charges. This misconduct occurred with unit investment trust (UIT) purchases from May 2009 until April 2014. Newbridge was fined $115,000 and agreed to pay clients back more than $188,000.

Shearson Financial was fined $100,000 by FINRA for allegedly inaccurately marking orders as unsolicited, even when they were solicited. The firm was warned in 2012, that 47 order tickets had been inaccurately marked. FINRA also stated that Shearson maintained inaccurate books and records of 1,873 transactions from June 2013 until October 2015. Please call us today for a free consultation with an attorney if you invested money with Newbridge Securities or Shearson Financial. We may be able to help you bring a claim against the firm for investment losses. We take cases on a contingency fee basis only.

Stoltmann Law Offices is investigating Paul DiPietro, a broker with Dawson James Securities in Boca Raton, Florida. DiPietro has been accused of using margin in an account without authorization, and recommending unsuitable trades. These are against securities rules and regulations. Using margin without authorization in a customer account is particularly egregious, because that can lead to excessive commissions generated for the customer, and these are against securities rules and regulations. DiPietro was registered with Global Capital Markets, Global Capital Securities Corp, Harrison Securities, KSH Investment Group, Brockington Securities, Shelman Securities Corp, Gunnallen Financial Inc., Chicago Investment Group and Investors Capital Corp. He is currently registered with Dawson James Securities in Boca Raton, Florida and has been since January 2012. He has seven customer disputes against him. Please call our securities law firm today to speak to an attorney about your losses and how to recover them in the Financial Industry Regulatory Authority (FINRA) arbitration process. We may be able to help you reclaim your investment losses on a contingency fee basis.

Stoltmann Law Offices is investigating Robert Child, a National Securities Corporation broker and investment adviser. He is alleged to have not made suitable recommendations, being negligent, breaching fiduciary duty and misrepresenting. The customers who brought claims against him are requesting over $2.7 million in damages. If you or someone you know lost money with Robert Child, you may have a possible claim against National Securities Corporation. We sue firms such as these in the Financial Industry Regulatory Authority (FINRA) arbitration forum to recover money for investors on a contingency fee basis. The call is free with no obligation so please call today. 312-332-4200.

According to his online FINRA BrokerCheck report, Child was registered with JB Hanauer & Co., Smith Barney, Harris Upham & Co., EF Hutton & Co., Shearson Lehman Hutton Inc., Prudential Securities Inc., UBS Painewebber, and VFinance Investments in Boca Raton, Florida from August 2001 until December 2012. He is currently registered with National Securities Corp in Boca Raton and has been since November 2012. He has 13 customer disputes against him, three of which are currently pending.

Did you lose money with Robert Child of National Securities? If so, the securities attorneys at Stoltmann Law Offices are interested in speaking with you about your options of suing National Securities in the Financial Industry Regulatory Authority (FINRA) arbitration forum. We sue firms on a contingency fee basis so we only make money if you recover yours. National Securities has a duty to reasonably supervise Robert Child, and, if the firm does not, can be held liable for investment losses. Please call 312-332-4200 today. The call is free with no obligation.

Child is accused of making unsuitable investment recommendations, acting negligently, breaching fiduciary duty, and misrepresenting material facts, among other things. These are all against securities rules and regulations. Child was registered with JB Hanauer & Co., Smith Barney, Harris Upham & Co., EF Hutton & Co., Shearson Lehman Hutton, Prudential Securities, UBS Painewebber, and VFinance Investments. He is currently registered with National Securities Corp in Boca Raton, Florida and has been since November 2012. He has 13 customer complaints against him, three of which are currently pending.

Stoltmann Law Offices is investigating Dennis Hayes, a broker with Newbridge Securities Corporation. Hayes allegedly recommended unsuitable transactions. The claimant alleged approximately $750,000 in damages. According to her statement of claim, the client divorced her husband in 2012, after which she had $1,500,000 in assets of which $500,000 was non-qualified money and about $1 million was qualified IRA funds. The client explained to Hayes that she wanted to protect her assets while having returns to meet her immediate income needs. After transferring her funds, Hayes solicited her to invest in a gold fund called USA Gold. Hayes recommended $300,000 in USA Gold through a self-directed IRA account. USA Gold appears to be an unregistered securities offering and most likely an investment scam. Newbridge Securities failed to properly investigate Hayes for his involvement in the unregistered offering. Hayes continues to work at Newbridge, therefore, putting other clients at risk. The claimant also allegedly complained to Gene Robert Abrams, Newbridge’s General Counsel and Co-Chief Compliance Officer, that Hayes was involved in private securities transactions. This is despite multiple sources claiming and proving that Hayes was, and most likely continues to be, involved in fraudulent private securities transactions.

Other risky assets the claimant was invested in included, non-traded real estate investment trusts (REITs) such as American Realty Capital Hospitality REIT, Carter Validus Mission Critical REIT, Griffen Capital Essential Asset REIT, and Business Development Corporation of America, as well as Shopoff Land Fund IV and RCS Capital Corporation (RCAP). All of these securities and REITs are risky, unsuitable investments, that were not along the lines of the claimant’s wishes and investment objectives. A broker must take into account his client’s age, net worth, risk objectives, investment savvy and portfolio before recommending an investment, and, if he does not, his firm can be liable for investment losses by being sued in the FINRA arbitration forum on a contingency fee basis.

According to his BrokerCheck report, Hayes was registered with AAL Capital Management Corp, Veravest Investments, Equity Services, MML Investors Services, Capital Investment Group, NFP Securities and is still registered with Newbridge in Boca Raton, Florida and has been since February 2010. He has two customer disputes against him, one of which is currently pending. Please call us today if you have investments with Dennis Hayes. We may be able to help you recover your investment losses. The call is free with no obligation.

Stoltmann Law Offices is investigating Pamela Posey, a stockbroker formerly with Securities America. According to the Financial Industry Regulatory Authority (FINRA), Posey disclosed the filing of a chapter 13 petition in the U.S. Bankruptcy Court for the Southern District of Florida in October 2013. This is a pending matter. She also disclosed three outstanding judgments/liens to Chateaux Fall Creek, LLC. According to her FINRA online BrokerCheck report, Posey was registered with American General Distributors Inc. in Houston, Texas from June 2004 until June 2006, Valic Financial Advisors in West Palm Beach, Florida from December 2010 until September 2012, AXA Advisors in Boca Raton, Florida from September 2012 until June 2013, Pruco Securities in West Palm Beach, Florida from June 2013 until July 2014 and Securities America in Boynton Beach, Florida from August 2014 until May 2016. She has three judgments/liens against her. She is not licensed within the industry. 312-332-4200 to speak to an attorney. The call is free. Please call today.

Stoltmann Law Offices is interested in speaking to those individuals who may have suffered losses with Aldo Nestor Marchena and his former firm, Northeast Securities. According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) into which he entered, Marchena was alleged to have engaged in outside business activity while associated with Northeast, which is against securities rules and regulations. Between January 2011 and December 2013, Marchena formed ABC, a Florida limited liability company offering business consulting services. Marchena allegedly registered ABC’s domain name but used his Northeast office address as the official registered address of ABC. Marchena identified as Managing Director, Partner and legal representative of ABC in agreements with ABC customers during the time period. This included his engagement in outside business activities while he was still registered with Northeast. For this, he was fined $5,000 and suspended from the industry for five months.

According to his FINRA online BrokerCheck report, Marchena was registered with Painewebber Inc. in Weehawken, New Jersey from April 1999 until September 2000, Prudential Securities in New York, New York from August 2000 until July 2003, Wachovia Securities in Boca Raton, Florida from July 2003 until October 2008, Kovack Securities in Boca Raton from October 2008 until October 2010 and Northeast Securities in Boca Raton from October 2010 until April 2014. He is not currently registered with any member firm and he has two customer disputes against him. Please call 312-332-4200 today to speak to an attorney about how you might be able to recover your losses with Northeast Securities and Aldo Nestor Marchena.

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