Articles Tagged with Spencer Edwards

Stoltmann Law Offices is investigating Gordon Dihle, who allegedly liquidated 4 billion shares of six penny stocks in seven customer accounts while registered with Spencer Edwards. The shares were not registered with the Securities and Exchange Commission (SEC) nor were the transactions exempt from registration. This is against securities rules and regulations. During this time, Gordon Dihle was the firm’s President, Chief Compliance Officer and AML Compliance Officer. He and the firm failed to conduct and ensure that registered representatives conducted reasonable and meaningful inquiries of the circumstances surrounding the illicit sales of six penny stocks, despite obvious indications that the sales were or could be illicit distributions of unregistered stocks. The firm also failed to have in place anti-money laundering regulations.

Dihle was registered with Variable Asset Strategies in Greenwood Village, Colorado from September 1999 until September 2006 and Spencer Edwards in Centennial, Colorado from January 2003 until November 2013. He has two customer disputes against him and is not currently registered with any firm or licensed within the industry.

Dihle and Spencer Edwards have a duty to have regulatory measures in place, and, because they did not, can be held liable for investment losses. If you invested money with Spencer Edwards, you may be able to recover those losses by calling our securities law firm at 312-332-4200. We are securities attorneys in Chicago, Illinois and sue firms such as Spencer Edwards on a contingency fee basis to recover money for investors.

Stoltmann Law Offices is investigating Stephen Marc Biley, who entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). He is currently registered with Spencer Edwards. He was accused of participating in the sale of unregistered shares of four over-the-counter penny stocks on behalf of three customers between January and April 2011. He allegedly deposited and liquidated over 3.5 billion penny stock shares of four issuers, including Encounter Technologies, Strategic Management and Opportunity Corp, All-State Properties Holdings and Greene Concepts, receiving a total of over $1.6 million in proceeds. This is against securities rules and regulations. For this, Biley was fined $30,000 and suspended from associating with any FINRA member firm in any capacity for 30 days.

Biley was registered with John Hancock Mutual Life Insurance in Boston, Massachusetts from July 1993 until July 1995, John Hancock Distributors in Boston from July 1993 until July 1995, Mony Securities Corp in New York, New York from June 1995 until January 1996, Royce Investment Group in Woodbury, New York from February 1996 until October 1996, Corporate Securities Group in St. Louis, Missouri from September 1996 until November 1997 and Lumiere Securities Inc. in Denver, Colorado from November 1997 until December 1998. He is currently registered with Spencer Edwards in Centennial, Colorado and has been since January 1999.

If you invested money with Stephen Marc Biley, please call our Chicago-based securities law firm at 312-332-4200 to speak to an attorney. We take cases on a contingency fee basis only, which means we do not receive money unless you recover yours. The call is free with no obligation. We sue firms such as Spencer Edwards in the FINRA arbitration process for not properly supervising their brokers. They can be held liable for your investment losses because of this.

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