Articles Tagged with San Francisco

Stoltmann Law Offices is interested in speaking to those investors who may have invested money with Tyrone Pang, a former NYLife Securities broker in San Francisco, California. Pang was barred from the industry by the Financial Industry Regulatory Authority (FINRA) after he failed to respond to an investigation against him. He was accused of improper use of customer insurance premium payments and terminated from NYLife Securities for this misconduct. Brokerage firms like NYLife Securities have a reasonable duty to oversee their employees, so they don’t violate securities laws. If the brokerage firm does not, it may be liable for losses on a contingency fee basis in the FINRA arbitration forum. Pang was previously registered with NYLife Securities in San Francisco, California from August 2008 until June 2015 and MML Investors Services in San Jose, California from March 2017 until December 2017. He has one customer dispute against him, alleging that he mishandled funds for the purpose of paying insurance premiums. According to his online FINRA BrokerCheck report, he is not currently registered as a broker within the industry.

AdobeStock_90383187-1-300x194If you were an investor with Michael Fitz-Gerald and Morgan Stanley, you may be able to recover your investment losses by suing Morgan Stanley in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis, which means we only make money if you recover yours. We are Chicago-based securities attorneys who bring claims against firms like Morgan Stanley who fail to properly supervise their brokers. The call to us is free with no obligation at 312-332-4200. Please call today for a consultation with one of our attorneys. There is a statute of limitations on most cases.
Fitz-Gerald was accused of making investments in energy stocks since 2014 that were unsuitable and did not specify damages. Another claim alleged that he failed to diversify a portfolio. These are against securities laws. A broker must only recommend those investments that are suitable for the investor by taking into account his age, net worth, investment objectives and investment sophistication. If he does not, his firm may be liable for those losses. Energy stocks are not typically suitable for all investors, as they tend to be highly illiquid and risky.
According to his online FINRA BrokerCheck report, Fitz-Gerald was previously registered with Birr, Wilson & Co., BWS, Birr Wilson, Inc., UBS and Morgan Stanley & Co. Inc. in San Francisco, California from November 2008 until June 2009. He is currently registered with Morgan Stanley in San Francisco and has been since June 2009. He has five customer disputes against him, one of which is currently pending.

Stoltmann Law Offices is investigating Armando Fernandez, a registered broker with Morgan Stanley in Miami Beach, Florida. Fernandez was recently fined $7,500 and suspended for 20 business days by the Financial Industry Regulatory Authority (FINRA). He allegedly traded in a customer account and exercised discretion without the client’s written authorization and without obtaining the member firm’s prior written acceptance of the account as discretionary. Fernandez also allegedly mismarked order tickets as unsolicited, when, in fact, the trades were solicited, causing inaccurate books and records to be maintained. These are all against securities rules and regulations.

According to his online FINRA BrokerCheck report, Fernandez was registered with Cal Fed Investments in San Francisco, California from July 1998 until September 1998, PFIC Securities Corp in Franklin, Tennessee from September 1998 until August 2004, Morgan Keegan in North Miami Beach, Florida from July 2004 until April 2009, Morgan Stanley in Miami, Florida from April 2009 until June 2009 and Morgan Stanley in Miami Beach, Florida from June 2009 until August 2016. He has five customer disputes against him, one of which is currently pending. He is not licensed within the industry.

If you or someone you know invested money with Armando Fernandez, and would like to talk to an attorney about your options of suing his firm, Morgan Stanley, for losses, please call 312-332-4200 today. The call to us is free and we take cases on a contingency fee basis only, which means we only get paid if you recover your money. There is no obligation.

The Securities and Exchange Commission (SEC) charged Nicholas Mitsakos and Matrix Capital Markets with soliciting investors in a purported hedge fund while falsely marketing their track record as highly unsuccessful. They claimed assets under management in the millions when in fact they did not manage any client assets at all. They fabricated a hypothetical portfolio of investments earning 20% to 66% annual returns and passed it off to investors as real trading. Mr. Mitsakos was given $2 million by a client, and he used $800,000 of it for unauthorized personal and business expenses. The SEC alleged that Mr. Mitsakos and his firm tried to lure prospective investors with a mirage of assets under management and phony performance results. Mitsakos is currently registered with Matrix Capital Markets in San Francisco, California and has been since Janaury 2014.

According to an Order Accepting Offer of Settlement with the Financial Industry Regulatory Authority (FINRA), John Joseph Arnold, a former broker with Merrill Lynch, was accused of securities law violations. Arnold was terminated from Merrill Lynch on June 17, 2016. Allegedly, in August 2013, a customer of the firm requested that two wire transfers totaling $127,200 be sent to third-party bank accounts. Arnold instructed a sales assistant to process the wire requests, telling her that the transaction had been verbally confirmed with the customer. It had not, and Arnold had not spoken with the client about it. Arnold then allegedly entered additional fictitious information in the firm’s books concerning the purpose of the wire request. Arnold also split up the wire requests so as not to have to obtain specific documentation regarding it, as is required by Merrill Lynch with transfers totaling over $50,000. For this, he was fined $15,000 and suspended from the industry for 60 days.

John Joseph Arnold was a registered broker with Montgomery Securities in San Francisco, California from May 1997 until October 1997, Banc of America Securities in New York, New York from October 1997 until December 2001, Citigroup Global Markets in Irvine, California from December 2001 until July 2008, Merrill Lynch in Newport Beach, California from June 2008 until September 2013 and Raymond James in Newport Beach from November 2013 until June 2016. He is not currently registered with any firm and not licensed. Call us today at 312-332-4200 if you would like to speak to an attorney for free about your options of recovering your financials with John Joseph Arnold and his former firm, Merrill Lynch. Merrill Lynch can be sued in the FINRA arbitration process on a contingency fee basis.

JSG Capital Investments, a San Francisco hedge fund, has been accused of defrauding investors out of millions of dollars, with its CEO and a colleague having spent the money at strip clubs, casinos and sporting events. The U.S. Securities and Exchange Commission claims JSG Capital took close to $9.3 million in a ponzi scheme. The men reportedly sold fake pre-IPO shares of Uber, Airbnb and Alibaba, before transferring the money to their own personal accounts. Jason Gill, the CEO and founder, along with Javier Carlos Rios, allegedly defrauded 200 investors out of their money, taking new money and paying it to old investors. They used companies such as Airbnb, and Uber Technologies to entice investors, promising them that they would invest their money this way. Both men have been charged with conspiracy to commit wire fraud and wire fraud, according to the Department of Justice. Of the $9.3 million they are accused of raising, they are said to have stolen in excess of $5.5 million. Gill and Rios allegedly transferred less than 1% of investor funds to JSG Entity brokerage accounts and no pre-IPO company shares were ever purchased.

Stoltmann Law Offices is investigating Protected Investors of America, a brokerage firm headquartered in San Francisco, California for certain customer complaints and transgressions. Allegedly, Protected Investors was fined by the NASD in 2001 for allowing one of their employees to act as a broker, while his registration was inactive. A Protected Investors broker, Robert M. Dahlestedt, had a customer complaint filed against him, alleging that he made unsuitable investment recommendations and committed fraud while at a former firm. The complaint settled for $225,000. Another broker, Malena R. Yatim, had a $13,000 civil judgment/lien placed against her in 2008. Finally, Russel Wayne Ketron, a broker with the company had a customer complaint against him in 2005. Ketron was also named as a co-defendant in a Securities and Exchange Commission (SEC) civil action regarding the sale of gold coins.

Russel Wayne Ketron was registered with Putnam Financial Services from October 1969 until July 1978 and Belmont Reid Securities from October 1979 until July 1980. He is currently registered with Protected Investors of America in Novato, California and has been since June 1978. He has two customer disputes against him. This is according to his online Financial Industry Regulatory Authority (FINRA) BrokerCheck report.

Did you lose money with Jose Zapata, a former registered representative with Argentus Securities in Dallas, Texas? Stoltmann Law Offices is interested in talking to you about your financial loss recovery options, if so. We are securities attorneys based in Chicago, Illinois, who sue firms such as Argentus Securities in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis in order to recover money for retail investors. Argentus Securities may be responsible for your investment losses because they were responsible for Zapata and his actions while he was employed with them. The call is free and you are not obligated to make any claim. We are available to discuss your options with you regarding suing Argentus Securities.

Jose Zapata was recently barred from the securities industry by FINRA after allegedly misrepresenting the value of an account to his customer. The customer resided in Mexico and requested that account statements not be sent to her home. Zapata would call the customer over the telephone to relay the value of her account, and FINRA alleged that between September 2012 and October 2013, Zapata misrepresented the value of the customers account. It was valued at $108,000 but Zapata told the client it was valued at $170,000. This is against securities rules and regulations and Zapata was barred from the industry because of it.

According to his online FINRA BrokerCheck report, Jose A. Zapata Jr. was registered with Merrill Lynch in New York, New York from May 1998 until September 1998, Chase Securities of Texas Inc. in Houston, Texas from November 1998 until March 1999, Chase Investment Services Corp in Chicago, Illinois from March 1999 until June 2000, Wells Fargo in San Francisco, California from June 2002 until October 2005, GBM International in Sugar Land, Texas from January 2006 until August 2007, Financial Counseling Corp in Houston, Texas from August 2007 until December 2008, Argentus Securities in Houston from January 2009 until December 2013 and Titleist Asset Management in San Antonio, Texas from December 2013 until May 2015. He has one customer dispute against him and it is currently pending. He is not licensed and has been barred from the industry.

Stoltmann Law Offices is investigating Barbara D. Fife, a former employee of LPL Financial in Indianapolis, Indiana and John W. Ruggles, a former employee of City Securities, also in Indianapolis. The Financial Industry Regulatory Authority (FINRA) recently barred Fife from the brokerage industry for life, and suspended Ruggles for 14 months and fined him $5,000. Ruggles was accused of falsifying emails and trade reports. Fife was accused by a customer of never investing checks into his or her account which were made out for the purpose of investing.

According to her online FINRA BrokerCheck report, Barbara D. Fife was registered with MML Investors in Springfield, Massachusetts from May 1993 until July 1993, Essex National Securities in Napa, California from July 1993 until March 1996, First Chicago NBD Investment Services in Chicago, Illinois from March 1996 until August 1996, Independent Financial Securities Inc. from September 1996 until January 1997, NatCity Investments in Cleveland, Ohio from August 1996 until February 1997, Banc One Securities Corp in Chicago from February 1999 until April 1999, UBS Financial Services in Weehawken, New Jersey from April 1999 until July 2003, Fifth Third Securities in Cincinnati, Ohio from July 2003 until November 2005, City Securities Corp in Indianapolis, Indiana from November 2005 until July 2007 and LPL Financial in Fishers, Indiana from September 2007 until June 2014. She has five customer disputes against her. She is not licensed and has been permanently barred from the industry.

John W. Ruggles was registered with Raffensperger, Hughes & Co. in Indianapolis, Indiana from July 1993 until July 1995, NatCity Investments in Cleveland, Ohio from July 1995 until March 1997, Independent Financial Securities from January 1997 until March 1997, Charles Schwab & Co. in San Francisco, California from April 1997 until June 2005, Edward Jones in Avon, Indiana from June 2005 until March 2006, Charles Schwab in Indianapolis, Indiana from September 2006 until April 2013 and City Securities Corp in Indianapolis from May 2014 until April 2015. He has one customer dispute against him. He is not currently licensed within the industry.

Stoltmann Law Offices is investigating Kevin Scarpelli, an investment advisor with Wedbush Securities in San Francisco, California. If you invested and lost money with Scarpelli, Wedbush may be liable for those financial losses because the firm has a duty to reasonably supervise him. Wedbush can be sued in the Financial Industry Regulatory Authority (FINRA) arbitration forum to recover money losses. We sue firms such as Wedbush for investors on a contingency fee basis. According to Kevin Scarpelli’s FINRA BrokerCheck report, a customer alleged that he made unsuitable recommendations, abused margin, breached fiduciary duty, committed fraud, acted negligently, and failed to supervise his representatives, among other complaints. These are all against securities rules and regulations and brokers such as Scarpelli have a duty to abide by suitability laws, and to recommend investments to individuals based on their net worth, age, investment objectives, portfolios and investment sophistication.

Kevin T. Scarpelli was registered with Dupont Walston Inc. from May 1966 until January 1974, Birr, Wilson & Co. from December 1973 until January 1981 and Wedbush, Noble Cooke Inc. from December 1980 until January 1981. He has worked for Wedbush Securities in San Francisco, California since March 1982. He has three customer disputes against him, two of which are currently pending.

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