Articles Tagged with Chase Investment Services

AdobeStock_198259345-300x200Stoltmann Law Offices is interested in hearing from those individuals who may have lost money with Xavier Patino, a former registered broker with J.P. Morgan Securities. According to Patino’s Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), in 2014 and 2016, Patino made material misstatements to a customer and guaranteed the customer against loss in connection with a variable annuity purchase. On two separate occasions, Patino signed documents that purported to recite various guarantees regarding the customer’s variable annuity. This is against securities laws and internal firm rules. For this misconduct, Xavier Patino was suspended for six months and fined $10,000.
According to his online, FINRA BrokerCheck report, Xavier Patino was previously registered with Chase Investment Services Corp in North Riverside, Illinois from May 2008 until October 2012, and J.P. Morgan Securities in Elmhurst, Illinois from October 2012 until May 2017. He is currently registered with Newbridge Securities Corp in Oakbrook Terrace, Illinois, and has been since June 2017. He has two customer disputes against him, alleging misrepresentation regarding a variable annuity investment and poor recommendations and advice regarding mutual fund investments. He has one employment separation after allegations.

Stoltmann Law Offices is investigating Rene Estrada and her firm, Fidelity Brokerage Services. She has worked for Fideilty since December 2012. Before that, she was a broker for J.P. Morgan Investment Services and Chase Investment Services, Corp. She has also worked for Western International Securities, Financial West Group and WM Financial Services, Inc. If you invested money with Rene Estrada or any of her former firms, you may be able to recover some of your losses. Please call our Chicago-based securities law firm at 312–332–4200 to speak to an attorney.

Joseph Bess has been sanctioned by the Financial Industry Regulatory Authority (FINRA), following allegations he marked order tickets for the purchase of exchange-traded funds (ETFs) in customer accounts as “unsolicited,” when, in fact, he had solicited each order. He also allegedly solicited unsuitable annuity products and solicited closed-end funds that were not on the firm’s approved solicitation list. ETFs tend to be very risky and illiquid securities that are not suitable for all investors. A broker must take into account a client’s age, net worth, investment sophistication and investment savvy before recommending a security. If he does not, his investment firm can be held responsible for losses. Please call our securities law offices in Chicago to speak to an attorney about how you may be able to bring a case against Waddell & Reed for losses. The call is free with no obligation. 312-332-4200.

Bess was registered with A.G. Edwards & Sons in St. Louis, Missouri from November 2001 until May 2002, UBS Financial Services in Edmond, Oklahoma from November 2005 until May 2007, Wachovia Securities in Edmond from April 2007 until April 2009, Chase Investment Services in Oklahoma City, Oklahoma from April 2009 until October 2012, J.P. Morgan Securities in Oklahoma City from October 2012 until April 2014 and Waddell & Reed in Edmond from April 2014 until July 2016. He has one customer dispute against him. He is not licensed within the industry.

According to a recent Disciplinary Proceeding with the Financial Industry Regulatory Authority (FINRA), Johnny Burris, while registered with Chase Investment Services, failed to execute a trade for his customers, a married elderly couple. The failed trade resulted in their IRS tax payment to be rejected for insufficient funds. Burris then created and sent unapproved misleading correspondence to the customers and the IRS. This is against securities rules and regulations. Burris was registered with BA Investment Services in Oakland, California from April 1997 until July 1999, Banc of America Investment Services in Boston, Massachusetts from July 1999 until October 1999, Investors Capital Corp in Sun City West, Arizona from January 2000 until December 2005, Chase Investment Services Corp in Sun City West from July 2010 until October 2012, JP Morgan Securities in Sun City West from October 2012 until December 2012, Oppenheimer & Co. in Scottsdale, Arizona from February 2013 until March 2014 and Southeast Investmnets in Charlotte, North Carolina from March 2014 until June 2015. He has three customer disputes against him. Please call our securities law firm today to find out how you might be able to sue Chase Investment Services for financial losses. The call is free with no obligation.

Did you lose money with Michael Oppenheim, formerly of JP Morgan Chase? Oppenheim was recently barred from the industry after admitting that he stole more than $20 million from clients for trading stocks online, paying personal bills and gambling on sporting events. Oppenheim settled fraud charges with the US Securities and Exchange Commission (SEC) last week. Earlier this year, he pled guilty to criminal embezzlement and securities fraud charges in US District Court for the Southern District of New York and was sentenced to five years in prison. He also agreed to pay $20,185,225 to settle the criminal charges and pay restitution to JP Morgan Chase. He allegedly took client funds to buy himself cashier’s checks, which were deposited into brokerage accounts he controlled. The money was then used to engage in options trading. In 2008, he persuaded at least two customers to withdraw more than $12 million from their accounts, and he told them the funds would be used to buy municipal bonds or municipal bond funds. Instead, he used the money to pay a home loan, gambling debts and credit card bills and to buy luxury clothing and travel. He also covered up the scam by falsifying client account statements to show bonds owned by other customers, and by moving cash from one customer account to another to inflate balances. The SEC barred him from the industry.

Oppenheim was registered with Merrill Lynch in New York, New York from April 1998 until May 1999, Prudential Securities in New York from May 1999 until July 2001, Chase Investment Services in Chicago, Illinois from February 2002 until February 2004, Wachovia Securities in St. Louis, Missouri from February 2004 until May 2004, Chase Investment Services Corp in New York from May 2004 until October 2012 and JP Morgan Securities in New York from October 2012 until April 2015. He has one customer dispute against him. He is not licensed within the industry and the SEC and the Financial Industry Regulatory Authority (FINRA) have permanently barred him.

David Randall Lockey, a former registered broker with SWS Financial Services, now known as Hilltop Securities Independent Network, Inc., entered into a disciplinary proceeding with the Financial Industry Regulatory Authority (FINRA). FINRA alleged that Lockey engaged in unsuitable short-term trading and switching in open-end mutual funds, closed-end funds and/or unit investment trusts (UITs) in four different customer accounts. He also allegedly falsified five required SWS switch forms, making it appear that the securities purchased through him at his prior employer had been held in customer accounts longer than they had actually been. These are against securities rules and regulations.

Lockey was registered with UBS Painewebber Inc. in Weehawken, New Jersey from May 2001 until September 2002, H & R Block Financial Advisors in Detroit, Michigan from October 2002 until July 2005, Chase Investment Services in Richardson, Texas from July 2005 until October 2009, Edward Jones in Plano, Texas from October 2009 until March 2012 and SWS Financial Services in Dallas from April 2012 until April 2014. He is not currently registered with any member firm. If you lost money with Lockey, please call our Chicago-based securities law office to speak to an attorney about your options of suing SWS in the FINRA arbitration process on a contingency fee basis.

On Tuesday, Michael Oppenheim, a former broker with JP Morgan Chase, was sentenced to five years in prison. Oppenheim pleaded guilty in November to embezzling at least $20 million from clients to fund a gambling addiction. He was ordered to pay $2.2 million in restitution to JP Morgan. Oppenheim worked in midtown Manhattan. Oppenheim was registered with Merrill Lynch, Prudential Securities, Chase Investment Services, Wachovia, Chase and JP Morgan in New York, New York from October 2012 until April 2015. He has one customer dispute against him, is not licensed and the Financial Industry Regulatory Authority (FINRA) has permanently barred him from the industry.

Stoltmann Law Offices is investigating Michael Egan, a registered broker with Brittanica Capital Partners in New York, New York since September 2015. According to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report, Egan is the subject of two judgments or liens. Egan was registered with Royce Investment Group, Waterhouse Securities, Wall Street Access, First Union Brokerage Services, DB Alex Brown, Deutsche Bank Securities, JP Morgan Securities, Chase Investment Services, Citigroup Global Markets, Abax Brokerage Services, Stock USA Execution Services, Four Points Capital Partners, John Thomas Financial, Blackbook Capital and Newport Coast Securities. He is currently registered with Brittanica Capital Partners in New York, New York and has been since September 2015. If you invested money with Michael Egan, you may be able to recover your investment losses by calling our securities law firm in Chicago. The call is free with no obligation. We take cases on a contingency fee basis only.

Stoltmann Law Offices is investigating Anthony C. Gray, a former broker with Edward Jones in Baton Rouge, Louisiana. Gray was recently permanently barred from the securities industry by the Financial Industry Regulatory Authority, after allegedly stealing $138,000 from an elderly couple from 2013 until 2015. Gray allegedly told the couple to write him bank checks, which he then wrote to himself or an affiliated business he owned. He then used the funds for personal expenses. Gray was registered with Chase Investment Services in Baton Rouge, Louisiana from August 2012 until October 2012, J.P. Morgan Securities in Baton Rouge from October 2012 until May 2013 and Edward Jones in Baton Rouge from July 2013 until October 2015. He is not registered with any firm, not licensed and was permanently barred from the industry.

If you invested with Anthony C. Gray, please call our securities law firm at 312-332-4200 to speak to an attorney about your options of suing his former firm, Edward Jones, for investment losses. They may be liable for investment losses because they had a duty to reasonably supervise him while he was employed there. The call is free with no obligation. We take cases on a contingency fee basis.

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Stoltmann Law Offices is investigating Miguel Valdez, a former broker with Fidelity Brokerage Services. Valdez was accused of selling fraudulent products, misrepresenting material facts related to an investment, and generating excessive commissions. Valdez was registered with Chase Securities of Texas in Houston, Texas from December 1998 until March 1999, Chase Investment Services in Houston from March 1999 until September 2006, Stanford Group Company in Houston from September 2006 until March 2009 and Northwestern Mutual Investment Services in Houston from December 2009 until June 2010. He is currently registered with Fidelity Brokerage Services in The Woodlands, Texas and has been since September 2010. Valdez has four customer disputes against him, two of which are pending. If you invested money with Miguel Valdez, please call our securities law firm based in Chicago at 312-332-4200 to speak with an attorney. The call is free with no obligation. We take cases on a contingency fee basis. We do not get paid unless you recover money. Valdez’s firm, Fidelity Brokerage Services, can be held liable for investment losses because of their inability to supervise him.

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