Articles Tagged with Orland Park

According to a plea agreement filed January 9th, 2018 in U.S. District Court, Daniel Glick was charged with, and pleaded guilty to, wire fraud. He could potentially be facing up to 10 to 15 years in prison. These criminal charges were filed against him on November 15th, 2017. Glick, a former Orland Park, Illinois investment advisor, allegedly stole more than $5 million from clients, including his elderly in-laws, in order to use it to fund personal expenses. As stated in his plea agreement filed in Chicago, Illinois, Mr. Glick defrauded several clients and financial institutions by misappropriating at least $5.2 million from them during a six-year period, from 2011 until 2017. During this time, Mr. Glick owned and operated Financial Management Strategies Inc., Glick Accounting Services Inc., and Glick & Associates Ltd, which purported to provide investment and financial services to clients, as well as accounting and tax services.

Glick allegedly forged checks and other documents to financial institutions and falsely told his clients, which included his elderly mother and father in-law, and an individual in a nursing home, that their investments were safe and useful ones. Glick also allegedly obtained power of attorney from at least one of the clients. He used the ill-gotten gains to pay a home mortgage, two business loans and to purchase a Mercedes-Benz.

According to the charges, Glick forged signatures on letters and checks, including those of his in-laws, in order to make transfers of hundreds of thousands of dollars from their checking account to his company’s own. Another family allegedly paid him $700,000 in fees, even though he had already misappropriated hundreds of thousands of dollars of theirs, unbeknownst to them. Glick then used inflated interest and overstated the amount of the investments in account statements that he sent to investors, in order to perpetrate the scheme. He also allegedly made ponzi-like payments to clients, taking newly acquired money and giving it to original investors.

Stoltmann Law Offices continues to investigate Wells Fargo broker Jeffrey Berenson, who works in the Orland Park, Illinois branch. Mr. Berenson allegedly recommended unsuitable investments to a customer, in a complaint that is currently pending. According to his online, public Financial Industry Regulatory Authority (FINRA) BrokerCheck report, Mr. Berenson was previously registered with Prudential Securities Inc. in New York, New York and is currently registered with Wells Fargo in Orland Park, Illinois and has been since January 2000. He has one customer dispute pending against him, alleging that he made unsuitable investments to a customer between 2000 and 2010.

Did you lose money with Daniel Glick? If so, the attorneys at Stoltmann Law Offices are interested in speaking with you. According to a complaint filed with the Securities and Exchange Commission (SEC), Glick was accused of taking advantage of senior citizens who entrusted him with their retirement savings and exploited members of their families. Glick and his firm, Transamerica, took millions of dollars from victims. He gained control over millions of dollars of investor funds with the understanding that he would invest them. He and his company then diverted investor funds for improper purposes and misappropriated money from the investors. He spent some of the money on himself. Glick then used inflated interest and overstated the amount of the investments in account statements that he sent to investors.

According to his public records, Glick was registered with Terra Securities Corp, Long Grove Trading, WMA Securities, World Group Securities, World Equity Group and Transamerica Financial Advisors in Orland Park, Illinois from January 2012 until March 2014. He has been permanently barred from the industry. We are Chicago and Barrington, Illinois-based securities attorneys who may be able to help you recover any investment losses you may have sustained with Mr. Glick and his former firm, Transamerica. We take cases on a contingency fee basis only. The call is free with no obligation. 312–332–4200.

Stoltmann Law Offices is investigating Randall Girton, a former Wells Fargo broker who entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). Girton was ordered to pay $12,500 in fines and suspended from the industry in any capacity for three months.

According to his AWC, Girton made an unsuitable recommendation to a customer, in that Girton recommended she liquidate all of her holdings, including recently purchased Class A mutual fund shares, and invest the proceeds in a proprietary investment advisory program offered by wells Fargo. This recommendation was not suitable for the client, and there was no basis for Girton to recommend that she do this, save for the fact that the transaction would garner additional fees and charges to the client. She was also charged up-front fees when the money was moved. For approximately 100 trades in her account, Girton did not obtain written authorization from the client, which is against FINRA rules and regulations.

Mr. Girton was registered with Morgan Stanley Smith Barney in Orland Park, Illinois from August 2010 until February 2012 and Wells Fargo in Orland Park from April 2012 until November 2013. He is not currently licensed within the industry. If you lost money with Randall Girton, please call our securities law office in Chicago, Illinois at 312-332-4200 to speak with an attorney. The call is free with no obligation. Wells Fargo, Girton’s former firm, may be sued in the FINRA arbitration forum to recover financial losses, as they had a duty to reasonably supervise Mr. Girton. We take cases on a contingency fee basis only.

Stoltmann Law Offices continues to investigate Bart J. Ellis, a former registered representative with Ameriprise Financial Services. Ellis was permanently barred from the industry after allegedly making unauthorized trades in customer accounts. One customer alleged that Ellis made unauthorized trades in her account routinely from June 2009 until August 2012. Ellis also allegedly created fake entries in a telephone log to cover up the trades, to make it seem as if he had received authorization from the customer to do so. The customer did not give written authorization to Ellis, nor did she authorize Ellis to exercise discretion in her account. Ellis also allegedly falsified documents in the same customer’s account in October 2010. An Ameriprise representative contacted the customer to inquire as to whether she authorized Ellis to make the trades. When the customer replied that she did not, Ellis then falsified telephone logs, making it seem as if the customer had authorized said trades.

Bart J. Ellis was registered with McLaughlin, Piven, Vogel Securities in Chicago, Illinois from February 2001 until May 2006, Morgan Stanley in Chicago from April 2006 until July 2007, and Ameriprise in Orland Park, Illinois and Chicago from November 2007 until October 2012. He has four customer disputes against him. He is no longer licensed in the industry, and the Financial Industry Regulatory Authority (FINRA) permanently barred him from the industry.

Amerprise Financial, Ellis’ former firm, can be sued in the FINRA arbitration process for failing to supervise him while he was employed there. At Stoltmann Law Offices, we sue brokerage firms such as Ameriprise to recover money for investors. Please call us at 312-332-4200 to speak to an attorney. The call is free.

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