Articles Tagged with Bright Trading

AdobeStock_99700100-2-300x200Recently, Stephen S. Eubanks pleaded guilty to one count of wire fraud. Eubanks, a former registered advisor with Bright Trading in Las Vegas, Nevada, allegedly stole money from his client’s, telling them he would invest it, and, instead, used it on himself. Some of his investors included a college roommate and the father of a former fraternity brother. One of his friends gave him over $100,000 to invest. In all, Eubanks allegedly defrauded 32 investors out of $435,000. He used some of the new money to pay back original investors in a classic ponzi scheme. He spent over $435,000 on himself, including on vacations and payments for a boat. These are all against securities rules.

Eubanks was registered with IDS Life Insurance Company, American Express Financial Advisors, Smith Barney Inc., UBS, Bear, Stearns, Oppenheimer and Bright Trading in Las Vegas, Nevada from March 2010 until August 2016. He has three customer disputes against him and is currently not registered within the industry, according to his online Financial Industry Regulatory Authority (FINRA) BrokerCheck report. Please call us today if you would like to bring a claim against Bright Trading for investment losses. We take cases on a contingency fee basis only in the FINRA arbitration forum.

Stoltmann Law Offices continues to investigate Stephen Eubanks, a former broker at Bright Trading LLC in Massachusetts. Eubanks was arrested yesterday on charges of wire fraud. Earlier this month, the Massachusetts Securities Division alleged that Eubanks ran a ponzi scheme in which he took money from investors, many of them neighbors and friends. The state alleged that Eubanks ran a purported hedge fund, Eubiquity Capital LLC, of which Eubanks was the alleged hedge fund manager. In reality, Eubanks spent most of the investor money on vacations, boat payments, restaurants, and payment of a federal tax lien. If you fell victim to Stephen Eubanks, you may be able to recover your losses in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis. Please call our law offices based in Chicago, Illinois today at 312-332-4200 to speak to one of our attorneys about your options. The call is free with no obligation.

According to his online FINRA BrokerCheck report, Eubanks was registered with IDS Life Insurance Company in Minneapolis, Minnesota from October 1992 until May 1994, American Express Financial Advisors in Minneapolis from October 1992 until May 1994, Smith Barney in New York, New York from June 1994 until September 1997, UBS in Weehawken, New Jersey from September 1997 until May 2004, Bear, Stearns in New York from April 2004 until April 2005, Oppenheimer & Co. in Boston, Massachusetts from April 2005 until May 2006 and Bright Trading in Las Vegas, Nevada from March 2010 until August 2016. He has three customer disputes against him. He is no longer licensed within the industry.

Stoltmann Law Offices is investigating Scott Muirhead, who was recently barred from the industry by the Financial Industry Regulatory Authority (FINRA). Allegedly, Muirhead engaged in unapproved private securities transactions, also known as “selling away.” This is when a broker offers and sells a security that is not held by his brokerage firm. It is typically to gain commissions that do not need to be shared with his firm. It is against securities rules and regulations. If you invested money with Scott Muirhead, you may be able to recover your losses in the FINRA arbitration forum on a contingency fee basis. To talk about your possible claim with one of our securities attorneys, please call our Chicago-based offices at 312-332-4200 today. The call is free with no obligation. We sue firms such as Merrill Lynch to recover money lost.

Muirhead was registered with Lincoln Financial Advisors Corp in Dallas, Texas from June 2006 until April 2008, Princor Financial Services Corp in Sachse, Texas from April 2008 until September 2010, Bright Trading in Las Vegas, Nevada from September 2010 until March 2011, Signator Investors in Dallas, Texas from June 2011 until June 2012, Multi-Finance Securities in Sachse from June 2012 until November 2012 and Merrill Lynch in Jacksonville, Florida from March 2014 until December 2014. He has one criminal disposition against him. He is not licensed and has been barred from the industry, according to his FINRA online BrokerCheck report.

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