Articles Tagged with Dean Witter

AdobeStock_9577728-1-300x200Stoltmann Law Offices is investigating Scott Palmer, who allegedly made unsuitable investments, traded excessively and made unauthorized investments. These are against securities rules. His firm, Janney Montgomery Scott, can be held liable for losses because the firm had a duty to reasonably supervise him while he was registered there. We are securities attorneys who take cases on a contingency fee basis in order to recover losses for investors. We try cases in the Financial Industry Regulatory Authority (FINRA) arbitration process. The call to us is free at 312-332-4200 with no obligation. Please call today.

Palmer was registered with Darby & Co. from January 1973 until April 1976, Dean Witter & Co. from January 1976 until February 1978, Dean Witter in Purchase, New York from February 1978 until June 1994, and Citigroup Global Markets in Ridgewood, New Jersey from June 1994 until February 2007. He is currently registered with Janney Montgomery Scott in Hackensack, New Jersey and has been since March 2007. He has five customer disputes against him.

Stoltmann Law Offices is investigating Jeffrey Ostrander, a Kansas-based Raymond James financial adviser. Ostrander is accused of misrepresenting material facts, making unsuitable investment recommendations, omitting material facts related to investments and making unsuitable investment recommendations. All of these are against securities rules and regulations. Ostrander’s former firm, Raymond James, can be held responsible for investment losses because of failing to reasonably supervise him. The firm can be sued in the Financial Industry Regulatory Authority (FINRA) arbitration forum.

Ostrander was registered with The Stuart-James Company Inc., Dean Witter Reynolds Inc., Painewebber Inc., Boatmen’s Investment Services, Piper Jaffray Inc., Invest Financial Corp, SII Investments, and Ameriprise Advisor Services in Overland Park, Kansas from May 2005 until March 2016. He is currently registered with Raymond James Financial Services in Overland Park, Kansas and has been since February 2016. He has three customer disputes against him. Please call our securities law offices today to speak to an attorney about your options of suing Raymond James in the FINRA arbitration forum on a contingency fee basis to recover money losses. 312-332-4200.

Stoltmann Law Offices is investigating David Gray, a former investment adviser with Cambridge Investment Research. Gray was accused of stealing money from an elderly customer, and he recently pled guilty to theft from an at-risk victim (which means either an elderly or disabled victim.) After he was investigated by the Securities and Exchange Commission (SEC) Gray was sentenced to eight years in prison and ordered to pay restitution of $263,418. If you or someone you know lost money with David Gray, please call our securities law offices in Chicago to speak to an attorney about your options. You may be able to sue Cambridge in the Financial Industry Regulatory Authority (FINRA) forum for not reasonably supervising Gray and allowing him to make transgressions against his customers. We sue firms such as Cambridge on a contingency fee basis in order to recover losses. Please call today. The call is free with no obligation. 312-332-4200.

Gray was registered with The Stuart-James Company, Inernational Securities Group, Sprung and Wise Securities, R A F Financial Corp, Dean Witter Reynolds, Hanifen, Imhoff Securities Corp, Jesup & Lamont, BC Christopher Securities, Neidiger, Tucker, Bruner Inc., Barringer Ryan Vance, Equity Services, BMA Financial, Nathan & Lewis Securities, Cambridge Investment Research in Greenwood Village, Colorado from September 1999 until August 2013 and Ridgeway & Conger. He is not currently registered with any firm. He has one customer dispute against him and one criminal disposition. He is not licensed within the industry and the SEC barred him from acting as a broker and investment adviser, or otherwise associating with firms that sell securities or provide investment advice to the public.

The Securities and Exchange Commission (SEC) recently charged two ex-brokers, James Hugh Brennan III and Douglas Albert Dyer, with a court order to stop them from taking more client money. The SEC is alleging that the men took $5 million in client money, some of which they allegedly transferred to their wives’ bank accounts. The men owned a company called Broad Street Ventures, which they operated out of their hometown of Chattanooga, Tennessee. Through Broad Street, they allegedly raised money to fund a series of other ventures, collectively known as the Scenic City Companies. The men collected from 240 investors starting in 2008. Most of the money collected was kept for themselves, or was hidden in their wives’ bank accounts. Both men had been unregistered in the industry for years.

Brennan was registered with Reynolds Securities, Dean Witter Reynolds Inc., Robinson-Humphrey/American Express, Raymond James, Mid-Atlantic Securities, Keogler, Morgan & Company, and First Allied Securities in San Diego, California from February 1996 until September 1996. He is not licensed within the industry. Dyer was registered with Raymond James, Mid-Atlantic Securities, Keogler, Morgan & Company and First Allied Securities, also in San Diego, from February 1996 until February 1997. He has one regulatory action against him, and is not licensed. Information for both men was obtained through FINRA’s BrokerCheck website.

Stoltmann Law Offices is investigating Glenn Robert King, who was accused of engaging in misconduct while associated with Royal Alliance Associates, Inc. According to a recent Disciplinary Proceeding by the Financial Industry Regulatory Authority (FINRA), King fraudulently misrepresented and omitted material facts during securities sales to seven customers, engaged in unsuitable and excessive short-term trading of long-term investment products in the accounts of four customers and exercised discretion in the accounts of four customers without written consent and firm approval. For these transgressions, he was barred from the industry. Any customer who lost money with Glenn Robert King is urged to call our Chicago-based law offices to speak to an attorney about his options of suing King’s former firm, Royal Alliance. Royal Alliance had a duty to reasonably supervise him while he was employed there, and, because the firm did not, may be responsible for client losses. 312-332-4200. The call is free.

King was registered with Thomas James Associates, Dean Witter Reynolds, Citigroup Global Markets, Royal Alliance Associates in Lakewood, New Jersey from January 2005 until June 2011, Saxony Securities, Garden State Securities and Buckman, Buckman & Reid. He is not currently registered with any firm and has been permanently barred from the industry. He has 21 customer disputes against him, three of which are currently pending.

John J. Avey, a former broker with BOSC Inc., was terminated recently from the firm. According to a Financial Industry Regulatory Authority (FINRA) disclosure, Avey, “when asked, admitted to knowingly submitting forms for processing with a signature for (name of client redacted) which were not in fact signed by (name of client redacted.)” This was the reason he was discharged from BOSC. Avey was registered with Merrill Lynch from May 1983 until March 1985, Dean Witter in Purchase, New York from February 1985 until May 1993, U.S. Clearing Corp in Dallas Texas from September 1993 until January 1994, CSB Investments Co. in Denver, Colorado from March 1994 until October 2004 and BOSC in Denver from May 2004 until January 2016. He is currently registered with First Financial Equity Corp in Greenwood Village, Colorado and has been since January 2016. He has two customer disputes against him. Please call our Chicago-based law offices today to speak to an attorney about your options of suing BOSC for investment losses sustained with John J. Avey. We may be able to help you bring a claim against the firm on a contingency fee basis.

Stoltmann Law Offices is investigating Gary Allen Graham, who recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). Mr. Graham was accused of borrowing $15,00 from a firm customer when he was registered with Wedbush Securities, and this is against securities rules and regulations. For this he was suspended from the industry for 45 calendar days and fined $5,000. According to his FINRA online BrokerCheck report, Graham was registered with First Investors Corp, Waddell & Reed, Dean Witter Reynolds, Merrill Lynch, A.G. Edwards & Sons, Prudential Securities Inc., Wachovia Securities, Crowell, Weedon & Co. and Wedbush Securities in Ontario, California from August 2011 until May 2015. He is currently registered with Calton & Associates in Huntington Beach, California and has been since July 2015. He has one customer dispute against him. You may be able to sue his former firm, Wedbush Securities, in the FINRA arbitration claims process on a contingency fee basis if you call our Chicago-based securities law firm today to speak to an attorney for free.

According to a Financial Industry Regulatory Authority (FINRA) Letter of Acceptance, Waiver and Consent (AWC), Robert Collins Noe was suspended from the industry for two months and fined $5,000. Noe allegedly signed a customer’s name on an annuity withdrawal form in order to help effectuate a bona fide annuity withdrawal on behalf of that customer. Noe signed the customer name and submitted it to the firm for processing. This is against securities rules and regulations. If you or someone you know invested money with Robert Collins Noe, you may be able to sue his former brokerage firm, Summit Brokerage Services, for investment losses. Summit had a duty to reasonably supervise Noe while he was employed there. The call to us is free and we take cases on a contingency fee basis only.

According to his online FINRA BrokerCheck report, Noe was registered with the following companies: E.F. Hutton & Co., Shearson Lehman Hutton Inc., Dean Witter Reynolds Inc., D.E. Frey & Co., Olde Discount Corp, Meridian Associates, Schlitt Investor Services and Summit Brokerage Services in Vero Beach, Florida from August 2001 until September 2015. He has three customer disputes against him, two of which are currently pending. He is not licensed within the industry.

Stoltmann Law Offices is investigating Sara Ng, a former broker with Financial West Group in Oak Brook, Illinois. According to her Financial Industry Regulatory Authority (FINRA) online, public BrokerCheck report, she was registered with IDS Life Insurance Company in Minneapolis, Minnesota from February 1996 until July 1997, American Express Financial Advisors in Minneapolis from February 1996 until July 1997, Dean Witter Reynolds Inc. in Purchase, New York from July 1997 until November 1999, Gruntal & Co. in New York, New York from October 1999 until December 2000, Wachovia Securities in St. Louis, Missouri from December 2000 until November 2002, Berthel, Fisher & Co. Financial Services in Oakbrook, Illinois from November 2002 until March 2014 and Financial West Group in Oak Brook from February 2014 until November 2015. She is currently registered with Axiom Capital Management in Oak Brook and has been since October 2015. She has two customer disputes against her. It is possible that Ng has invested large sums of money for investors in products such as real estate investment trusts (REITs) and oil and gas products. Please call us today if you or someone you know was recommended investments by Ng in Magnum Hunter. We may be able to help you recover your losses in Magnum Hunter investments suffered with Sara Ng. The call to us is free with no obligation. For more information please see video below.

Stoltmann Law Offices is investigating Scott Valente, a former Albany, New York stockbroker. Valente admitted to taking $2 million in fees from clients by falsifying fake investment returns and operating without a license. He was sentenced to 20 years in prison on Friday and ordered to pay $8.2 million in restitution to more than 100 victims. Many of his victims were elderly. Valente was a former broker at Purshe Kaplan Sterling in Albany and was banned from the securities industry in 2009 for improper trades after creating his own investment firm called Eliv Group. He allegedly told his clients that they would see returns of between 30 and 40 percent, but these were false promises. Between 2010 and 2014, Valente actually used $2.2 million in client fees to go toward purchasing second homes, home renovations and other personal purchases. Many of his investments he sold to clients were in pre-IPO shares of Twitter and Square, two companies that recently went public.

Scott Valente was registered with Dime Securities of NY in Brooklyn, New York from October 1992 until November 1992, IDS Life Insurance Company in Minneapolis, Minnesota from November 1988 until July 1993, American Express Financial Services in Minneapolis from November 1988 until July 1993, Cigna Financial Advisors in Radnor, Pennsylvania from June 1993 until April 1994, Dean Witter Reynolds in Purchase, New York from April 1994 until July 1996, and Purshe Kaplan Sterling Investments in Albany, New York from August 1996 until February 2009. He has 17 customer disputes against him, one of which is currently pending, according to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report.

If you lost money with Scott Valente, you may be able to recover those investment losses by calling us at our securities law firm in Chicago and speaking to an attorney for free. We sue firms such as Purshe Kaplan in the FINRA arbitration forum to recover money for investors. Please call soon as time is of the essence with these cases.

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