Articles Tagged with Springfield

 

According to records kept by the Financial Industry Regulatory Authority (FINRA), former Capitol Securities Management employee Teryl Trenchard is under investigation for fraud. Capitol Securities terminated Trenchard in March 2017, on the same day FINRA began its investigation. In July 2017, a customer filed a complaint alleging breach of fiduciary duty, conversion and unsuitable investments causing $700,000 in damages. The claim is currently pending. He was also accused of engaging in misappropriation, forgery, fraud, and unauthorized trading in unsuitable transactions. The customer lost $1,800,000 in damages. That claim is currently pending. Brokerage firms such as Capitol Securities are required to reasonably supervise their brokers so as to make sure that they do not violate securities laws. If they do not, they can be held liable for securities losses on a contingency fee basis in the FINRA arbitration forum.

According to his online, public BrokerCheck record with FINRA, Mr. Trenchard was previously registered with J.C. Bradford & Co. in New York, New York from June 1997 until February 2000, Prudential Securities Inc. in New York from November 1999 until December 2000, Voss & Co. in Springfield, Virginia from January 2001 until February 2003, Aegis Capital in Springfield from January 2003 until June 2009 and Capitol Securities Management in Reston, Virginia from May 2009 until March 2017. He has four customer disputes against him, two of which are currently pending. He is not currently registered as a broker.

According to recent documents, the Oklahoma Securities Commission is seeking to revoke William B. Mulder’s license because of allegations that he misrepresented a variable annuity sold to customers and that he embezzled funds. Mulder was the subject of customer complaints while he worked at Merrill Lynch and has since been fired from the firm. The Financial Industry Regulatory Authority (FINRA) barred him from the securities industry in 2014. Mulder was registered with Metropolitan Life Insurance Company in New York, New York from April 1986 until August 1997, MetLife Securities in Springfield, Massachusetts from April 1986 until August 1997 and Merrill Lynch in Tulsa, Oklahoma from September 1997 until May 2012. He has five customer disputes against him. If you would like to speak to an attorney about your options of suing William Mulder, please contact our law offices in Chicago at 312-332-4200.

Stoltmann Law Offices is investigating Jason Medvec, who recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). Medvec allegedly sent emails from his Merrill Lynch account to a personal account, which contained names, account numbers and telephone numbers of 50 clients. He sent the emails on January 2nd and 3rd of 2014. This is against securities rules and regulations. Another email he allegedly sent marked “vacation” also had attached files containing the names of more than 8 Merrill Lynch clients and nine of their account numbers. Medvec then resigned from Merrill Lynch and joined Edward Jones, but that firm discharged him on January 8th after reports that “the firm received notification from his previous employer that he transmitted client information to his personal email address.” For this, Medvec was fined $5,000 and suspended for 10 days from the industry.

Medvec was registered with Park Avenue Securities in Springfield, Massachusetts from July 2005 until April 2006, OneAmerica Securities in Middletown, Connecticut from April 2006 until March 2007, MetLife Investors Distribution Company in Bloomfield, Connecticut from July 2007 until September 2008, Hartford Equity Sales in West Hartford, Connecticut from October 2008 until September 2009, Morgan Stanley in Hartford from January 2010 until April 2011, Merrill Lynch in Hartford from April 2011 until January 2014 and Edward Jones in Glastonbury, Connecticut from January 2014 until January 2014. He is not currently registered with any member firm and not licensed within the industry, according to his FINRA BrokerCheck report. Please call us if you invested money with Jason Medvec. We may be able to help recover your losses. The call is free with no obligation.

Stoltmann Law Offices is investigating Mark Hughes, a broker with Oppenheimer & Co. in Washington, D.C. Hughes allegedly sold unsuitable variable annuities, sold unsuitable investments in leveraged exchange-traded funds (ETFs), executed unauthorized transactions and misrepresented and recommended unsuitable investments and executed excessive trades, among other things. All of these are against securities rules and regulations. Mark C. Hughes was registered with Merrill Lynch in New York from February 1993 until May 1995, Salomon Smith Barney in New York from May 1995 until April 1999, CIBC World Markets Corp in New York from March 1999 until January 2002, Wachovia Securities in St. Louis, Missouri from January 2002 until June 2004, SunTrust Investment Services in Springfield, Virginia from June 2004 until November 2007 and UBS Financial Services in Washington D.C. from October 2007 until November 2014. He is currently registered with Oppenheimer in D.C. and has been since October 2014. He has seven customer disputes against him, one of which is currently pending.

If you or someone you know invested money with Mark Hughes, please call our securities law firm at 312-332-4200 to speak to an attorney. The call is free with no obligation. His firm, Oppenheimer & Co. can be held liable for investment losses because they had a duty to reasonably supervise him. Please call soon as time is of the essence with these cases.

The Securities and Exchange Commission (SEC) has barred James R. Glover, a former Maryland investment advisor, for allegedly raising more than $13 million in a real estate investment scam. Glover raised $13.5 million from 125 investors who he solicited to invest in Colonial Tidewater Realty Income Partners LLC. Glover was a managing member of Colonial Tidewater, and he told the investors that it was a Signator sanctioned investment, when, in fact, it was not. Glover also failed to mention that he was personally involved with Colonial Tidewater. This is commonly referred to as “selling away” and is when a broker solicits an investment that is not offered by his investment firm. It is against securities rules and regulations. Signator Investors can be sued for failing to properly supervise Mr. Glover. They had a duty to do so while he was employed there, and because they did not, can be held liable for investment losses. Please call Stoltmann Law Offices at 312-332-4200 to speak with an attorney. The call is free with no obligation. We are securities attorneys who take cases on a contingency fee basis, so we don’t receive compensation unless you do.

James R. Glover was registered with G.R. Phelps & Co. from September 1984 until March 1996, MML Investors Services in Springfield, Massachusetts from March 1996 until December 1997, New England Securities in New York, New York from November 1991 until May 1998 and Signator Investors in Towson, Maryland from May 1998 until May 2012. He has 79 customer disputes against him, two of which are currently pending. He is not currently licensed within the industry and the Financial Industry Regulatory Authority (FINRA) permanently barred him from acting as a broker or investment advisor.

David Matthew Lisnek entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) on January 29th, 2014. FINRA permanently barred Lisnek from associating with any FINRA member firm. Lisnek was registered with LPL Financial. He was accused of converting client funds, among other allegations while registered with LPL.

In late 2013, Lisnek was arrested for his connection with defrauding an elderly client by convincing the 84 year-old client to write personal checks to him. The checks totaled $65,000. He told the client this was in order to “avoid problems with the federal authorities.” In 2013, the Illinois Secretary of State Securities Department filed a Temporary Order of Suspension and Order of Prohibition because of the alleged misconduct and illegal activity. He was charged with one felony count of financial exploitation of the elderly and was fired from LPL on November 13, 2013. Lisnek wrote several columns on investing for several Springfield, Illinois local newspapers, and published several books, one of which was on how to avoid being defrauded by investment advisors.

Lisnek was registered with Waddell & Reed in Overland Park, Kansas from August 1995 until February 1996, Banc One Securities in Chicago, Illinois from July 1996 until March 1997, Morgan Stanley in Purchase, New York from May 1997 until March 2004, Oak Grove Investment Services in Rochester, Illinois from April 2004 until July 2004, Valic Financial Advisors in Houston, Texas from July 2004 until September 2004 and LPL Fianancial in Springfield, Illinois from September 2004 until November 2013. He has three customer disputes against him. He is not currently licensed and has been permanently barred from the industry.

Stoltmann Law Offices is investigating Peter Dourdas, a former broker with Questar Capital Corp. Dourdas is accused of theft and conversion of funds, as well as unauthorized business activity. The Financial Industry Regulatory Authority (FINRA) filed a complaint against him seeking to bar him from the securities industry. Dourdas was registered with MML Investors Services in Springfield, Massachusetts from August 2001 until December 2004, USAllianz Securities in Syracuse, New York from December 2004 until December 2006 and Questar Capital Corporation in Syracuse from December 2006 until September 2013. He has two customer disputes against him. He is not currently registered with any member firm nor is he licensed within the industry. If you invested money with Peter Dourdas, you can call our Chicago-based securities law office at 312-332-4200 for a free consultation with an attorney. We may be able to help you sue Questar Capital Corp for investment losses. They had a duty to reasonably supervise him while he was employed there.

John Wendland Handy Jr., Jonathan Craig Timson and Dennis Walker recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) in which the regulatory authority fined them $60,000 and suspended all of them from association with any member firm for 18 months. All three men were Wells Fargo Financial Advisors brokers, and operated under the name Walnut Capital Management. Wells Fargo terminated all three advisors for failing to disclose the nature of their relationship with Signal Point Asset Management. Wells Fargo denied their request to hold ownership in Signal Point, yet the men engaged in outside business activity with the firm, anyway. Handy, Timson and Walker made all important personnel decisions at Signal Point and engaged in private securities transactions with the firm, which is a violation of securities law. This is known as “selling away” and occurs when a broker sells other securities without the knowledge and/or approval of his firm.

John Wendland Handy Jr. was registered with Merrill Lynch in Madison, Wisconsin from April 1987 until March 2007, and Wells Fargo also in Madison from March 2007 until August 2013. Jonathan Craig Timson was registered with Prudential, Pruco Securities, Merrill Lynch in New York, New York, Morgan Stanley and Wells Fargo in Springfield, Missouri from March 2007 until August 2013. Dennis Walker was registered with Merrill Lynch in New York, Morgan Stanley in Overland Park, Kansas and Wells Fargo in Springfield Missouri from March 2007 until August 2013. None of the men are currently registered with any member firm.

If you were a client of Wells Fargo, Walnut Capital Management, Handy, Timson or Walker and you suffered investment losses because of it, please call us at 312-332-4200 to speak to an attorney about your options. Wells Fargo can be sued to recover investment losses, because they had a duty to reasonably supervise Handy, Timson and Walker while they were employed with them. We sue firms such as Wells Fargo to recover money for investors.

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