Articles Tagged with Bowling Green

Stoltmann Law Offices is investigating Joseph Scott Hooper, who recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). Hooper is accused of participating in eight private securities transactions, otherwise known as “selling away.” Selling away is when a broker sells a security that is not offered or held by his brokerage firm. It is used to generate large commissions for the broker and is against securities rules and regulations. Hooper received $62,500 in commissions from the private securities sales.

Joseph Scott Hooper was registered with Source Capital Group in Bowling Green, Kentucky from January 2003 until April 2010 and Source Capital Group in Bowling Green from June 2012 until January 2013. He is not licensed and not currently registered with any member firm.

According to broker Russell W. Newton’s Financial Industry Regulatory Authority (FINRA) BrokerCheck report, he was suspended from the industry for 20 days and fined $10,000 on July 14, 2014. Allegedly, Newton failed to supervise several brokers out of the Bowling Green, Kentucky office of Source Capital. He entered into a Letter of Acceptance, Waiver and Consent (AWC) with FINRA that alleged that two brokers at the branch made misstatements in sales pitches to potential customers in order to induce them into investing with Argyle Securities.

In 2001, the Utah Division of Securities fined him $25,000 for failing to supervise brokers who were selling unregistered securities.

In 2000, the Florida Division of Securities and Investor Protection fined him $30,000 for operating an unregistered office, Merit Capital Associates, Inc., in the state.

Stoltmann Law Offices is investigating Kevin L. Cline, a broker with Source Capital in Bowling Green, Kentucky. FINRA suspended him from the industry in December 2013 for three months and fined him $10,000. He was registered with Ridgemont Securities in Bowling Green, Kentucky from March 1994 until March 2002 and Source Capital Group, also in Bowling Green, from March 2002 until January 2014. He is not currently licensed in the industry. If you would like to bring a claim against Kevin L. Cline for investment losses, please call us at 312-332-4200 to speak to an attorney. We can help you discuss your options. The call is free.

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