Three Men In Trouble With CFP Board

Charles Zsarnay, William W. Gammon and Lee D. Weiss are all in hot water with the CFP Board. The Board found Zsarnay, of Toledo, Ohio, allegedly copied individual driver’s licenses in violation of Ohio law and failed to promptly disclose to his firm that he had been charged with a felony. The Board denied his securities license because of his wrongdoing.

It also permanently revoked the certification of Ameriprise advisor William W. Gammon of Townsend, Maryland. Gammon, allegedly, recommended and sold his client unsuitable alternative investments given the clients’ ages, risk tolerance and investment objectives. These included non-traded real estate investment trusts (REITs), debentures and equipment leasing funds.

Finally, the Board permanently revoked the certification of Family Endowment Partners managing partner Lee D. Weiss of Newton, Massachusetts. He allegedly recommended and sold investments to his clients that were not suitable for any investor, failed to disclose his direct interests in the investments and overcharged clients for advisory fees.

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