Articles Tagged with Hennion Walsh

Stoltmann Law Offices is investigating allegations in a grand jury indictment in the United States District Court for the Eastern District of Texas, levied against Keith Todd Ashley, of Collin County, Texas.  According to the indictment, which was filed on November 13, 2020, Ashley ran a Ponzi scheme while a registered representative for Parkland Securities, formally known Sammons Securities Company, and Midland National, a life insurance and annuity company. According to the indictment, Ashley recommended investors purchase UITs (Unit Investment Trusts) through Parkland and another entity called SmartTrust, which was an investment offered by another brokerage firm, Hennion & Walsh. The indictment alleges that Ashley made representations via email to clients that these investments offered returns of anywhere between 3% and 9% per year, with no risk to the investor’s principal, and that the securities were offered through Parkland and SmartTrust.  The indictment further alleges that instead of investing the money as represented, Ashley converted a substantial amount of it – more than $1 million – for his own use.

If you invested with Keith Ashley and believe you have suffered losses in connection with his alleged Ponzi scheme, please contact Stoltmann Law Offices, at 312-332-4200 for a free, no obligation consultation with a securities attorney.  

The news in connection with Mr. Ashley and his scheme turned quite dark just this afternoon when the publication Investment News ran a story indicating that Ashley was arrested in Carrolton,Texas on suspicion of committing murder. The story reports that Ashley is accused of murdering an investor-client in February 2020, staging the murder as a suicide, in some attempt to gain access to the victim’s money. Ashley was discharged from Parkland Securities in October suggesting he was fired for failing to disclose outside business activities.  This is a common response by brokerage firms when it turns out that one of their registered representatives has been running a Ponzi scheme.

AdobeStock_1800313-1-300x204Stoltmann Law Offices is investigating Justin Yoon, a broker with Hennion & Walsh in Parsippany, New Jersey. Allegedly, Mr. Yoon recommended unsuitable municipal bond investments from approximately 2009 until 2017 on at least two separate occasions. This is against securities laws and internal firm rules. He is currently registered with Hennion & Walsh in Parsippany, New Jersey, and has been since September 1999. He has two customer disputes against him, one of which is currently pending. They allege unsuitability and other things. A broker has a reasonable duty to do his due diligence on every investment, and to only recommend and sell those investments that are suitable for his clients. If he does not, his brokerage firm may be liable for losses in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis.

AdobeStock_66548440-1-300x169Stoltman Law Offices is investigating Mamode Oozeerally, a broker with Hennion & Walsh in Parsippany, New Jersey. Mr. Oozeerally was accused of recommending unsuitable municipal bond purchases to customers, and he was also accused of “non payment of auction rate securities.” Both of these are against securities rules and regulations, and investors may be able to sue Hennion & Walsh if they suffered money losses because of Mr. Oozeerally’s unsuitable investment recommendations. A broker has an ironclad obligation to only recommend those investments that are suitable for his clients based on their ages, net worth, investment objectives, investment sophistication and other factors. If he does not, his brokerage firm can be sued on a contingency fee basis in the arbitration forum in order for investors to recover their losses. To find out how, please call 312-332-4200 to speak to one of our attorneys about your options. The call is free with no obligation. We are based in Chicago and Barrington, Illinois. Mr. Oozeerally is currently registered with Hennion & Walsh in Parsippany, New Jersey and has been since September 2000. He has two customer disputes against him, one of which is currently pending.

AdobeStock_1800313-1-300x204Stoltmann Law Offices is investigating Sean Logue, who is registered with Hennion & Walsh in Parsippany, New Jersey. Logue is accused of recommending unsuitable investments in municipal debt products, and recommending unsuitable investments in unit investment trust (UIT) products. A UIT is typically a high-risk, illiquid investment, not suitable for many investors. A broker must take into account a client’s age, net worth, investment objectives and investment sophistication before recommending a security. If he does not, his brokerage firm may be liable for losses. Please call our law offices today if you lost money with Sean Logue. We may be able to help you recover your money on a contingency fee basis. The call is free with no obligation. 312-332-4200. Mr. Logue has been registered with Hennion & Walsh in Parsippany, New Jersey since July 1997 and has two customer disputes against him.

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