Former UBS Financial Advisor German Nino Accused of Stealing $5.8M from Client

Former UBS Financial Advisor German Nino Accused of Stealing $5.8M from Client

National investment fraud lawyers KlaymanToskes investigates former UBS broker German Nino (“German Nino UBS Theft Investigation”) in light of the SEC’s Complaint alleging theft from a customer. In January 2022, the Securities and Exchange Commission charged former UBS broker and investment adviser German Nino with stealing $5.8 million from a long-standing client. SEC Accuses German Nino of Stealing According to the SEC Complaint, Nino was a financial advisor for a high-net-worth couple who had invested approximately $11 million with UBS through Nino. The broker had discretionary authority over several of Client’s securities brokerage accounts. In May 2014, Nino began making…

Aegis Capital's Joseph LaScala Excessively Traded Customer Account

Aegis Capital's Joseph LaScala Excessively Traded Customer Account

National investment fraud lawyers KlaymanToskes is investigating (“Joseph LaScala Aegis Investigation”) Excessive Trading Investigation”) Aegis Capital broker Joseph LaScala in light of his recent settlement with the Financial Industry Regulatory Authority’s (“FINRA”) relating to excessive trading allegations.   What is Excessive Trading? Excessive trading occurs when a broker recommends a high number of trades that, in the aggregate, do not align with the customer’s investment goals and financial circumstances. Where it involves the intent to defraud the customer or was carried out with reckless disregard for a customer’s interests, it is considered “churning”—a form of securities fraud. Joseph LaScala Excessive…

ATTENTION JAMES ALAN SEIJAS CUSTOMERS THAT INVESTED IN THE Q3 TRADING CLUB: National Investment Fraud Lawyers KlaymanToskes Investigates Former Wells Fargo Broker in Light of His Role in a Crypto Ponzi Scheme, Bar from Industry

ATTENTION JAMES ALAN SEIJAS CUSTOMERS THAT INVESTED IN THE Q3 TRADING CLUB: National Investment Fraud Lawyers KlaymanToskes Investigates Former Wells Fargo Broker in Light of His Role in a Crypto Ponzi Scheme, Bar from Industry

National investment fraud lawyers KlaymanToskes (“KT”) is investigating James Alan Seijas, who is a former New Jersey Wells Fargo Clearing Services, LLC (“Wells Fargo”) broker, in light of his involvement in the alleged Q3 Trading Club (“Q3 Trading Ponzi investigation”) cryptocurrency Ponzi scheme. The Financial Industry Regulatory Authority (“FINRA”) barred Seijas in November 2021 for failing to appear for on-the-record testimony in its investigation concerning allegations disclosed in a lawsuit that he misrepresented investments as part of a Ponzi scheme. Investors are suing Wells Fargo claiming that the firm is vicariously liable for Seijas’s conduct in the Q3 Ponzi scheme.…

FINRA Accuses William Athas, Former Worden Capital and K.C. Ward Financial Broker, of Excessive Trading in Customer Accounts

FINRA Accuses William Athas, Former Worden Capital and K.C. Ward Financial Broker, of Excessive Trading in Customer Accounts

National investment fraud lawyers KlaymanToskes is investigating (“William Athas Excessive Trading Investigation”) on behalf of former customers of ex-Worden Capital Management, LLC and K.C. Ward Financial broker William Nicholas Athas (“Athas”) in light of the Financial Industry Regulatory Authority’s (“FINRA”) complaint filed against him in January 2022. According to FINRA, from December 2014 through April 2020, Athas churned and excessively traded nine accounts of seven different customers while he was associated with K.C. Ward Financial and Worden Capital. What is Excessive Trading? Excessive trading occurs when a broker recommends a high number of trades that, in the aggregate, do not…

Petrobridge Fraud Causes Investor Losses

Petrobridge Fraud Causes Investor Losses

National investment fraud lawyers KlaymanToskes is investigating on behalf of investors of two oil and gas joint ventures offered by Petrobridge Energy, LLC (“Petrobridge Fraud”) in light of the Securities & Exchange Commission’s December 2021 Complaint. The Complaint charges four individuals in connection with a fraudulent oil & gas offering.   The Petrobridge Fraud In December 2021, the Securities and Exchange Commission charged Timothy Burroughs, Jay Holstine, John Griffin, and Michael Oswald Williams for their roles in raising approximately $3.2 million from approximately 50 investors through the fraudulent and unregistered offer and sale of interests in two oil and gas…

Joel Kichline Sanctioned for Unauthorized Trading at Raymond James

Joel Kichline Sanctioned for Unauthorized Trading at Raymond James

According to a FINRA Letter of Acceptance, Waiver & Consent, from January 1, 2019 through July 9, 2020, Joel Kichline Lynch exercised discretion without authorization in five customer accounts on 1,519 occasions. FINRA was alerted to this unauthorized trading when Raymond James terminated Joel Kichline’s employment for exercising discretion without authorization and filed the required termination documentation with FINRA. FINRA sanctioned Joel Kichline with a 30 day suspension and $5,000 fine. What is Discretion? According to FINRA, “”Discretion” …refers to discretionary trading, which is when a broker makes trades in a customer’s account without first consulting the customer. That generally…

Recover John LoPinto Worden Capital Investment Losses

Recover John LoPinto Worden Capital Investment Losses

John LoPinto Worden Capital investment losses? KlaymanToskes investigates ex-broker in light of FINRA suspension for excessively trading in customer accounts National investment fraud lawyers KlaymanToskes is investigating former Worden Capital broker John LoPinto (CRD #4563735) (“John LoPinto Worden Capital Investigation”) in light of a recent FINRA disciplinary action regarding excessive trading. What is a Letter of Acceptance, Waiver and Consent? If FINRA’s Department of Enforcement has reason to believe a violation has occurred and the FINRA member does not dispute the violation, FINRA’s Department of Enforcement may prepare and request that the member: execute a letter accepting a finding of…

Permian Basin Proppants Ponzi Investment Loss Recovery

National investment fraud and ponzi scheme lawyers KlaymanToskes are investigating on behalf of investors of the alleged (“Permian”) Permian Basin Proppants Ponzi Investment Loss Recovery. Permian is a Texas corporation purportedly supplying materials to energy companies for the extraction of oil and gas using hydraulic fracturing. KlaymanToskes’s investigation is in light of the Securities and Exchange Commission’s December 14, 2021 emergency action filed against Permian and its president and CEO in Texas federal court. What is Permian Basin Proppants? According to the Securities and Exchange Commission, Permian was billed as a fast-growing company positioned to capitalize on the Permian Basin…

Wells Fargo Unit Investment Trust Failure to Supervise Early Rollovers, Settles with FINRA

National investment fraud lawyers KlaymanToskes is investigating Wells Fargo in light of FINRA’s recent disciplinary action against the firm relating to its short-term sales of Wells Fargo Unit Investment Trust (“UIT”). According to FINRA, from July 2013 through June 2018, Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC (“Wells Fargo”) failed to establish and maintain a supervisory system that was reasonably designed to achieve compliance with FINRA’ s suitability rule as it pertains to early rollovers of Unit Investment Trusts, which caused investment losses across thousands of customers’ accounts. What is a Unit Investment Trust? According…

Steven Musielski Investment Losses at Cambria Capital? National Investor Fraud Law Firm KlaymanToskes Investigates Former California Broker Barred by FINRA

Steven Musielski Investment Losses at Cambria Capital? National Investor Fraud Law Firm KlaymanToskes Investigates Former California Broker Barred by FINRA

Steven Musielski Investment Losses as a Cambria Capital Customer? FINRA Bars Former Cambria Capital Broker for Refusal to Provide Documents and Information in Investigation (“Steven Musielski Investment Losses Investigation”) National investor fraud law firm, KlaymanToskes (“KT”), has commenced an investigation (“Steven Musielski Investment Losses Investigation”) into former Cambria Capital broker Steven D. Musielski (CRD #2128821)  light of a disciplinary bar disclosed by FINRA. Steven Musielski Investment Losses Investigation and November 2021 FINRA AWC According to a FINRA Letter of Acceptance, Waiver and Consent, the financial regulator barred former Cambria Capital broker for his refusal to produce outstanding information or documents…

Michael May Investment Losses? National Investor Fraud Law Firm KlaymanToskes Investigates Former Joseph Stone Broker Suspended by FINRA for Excessive Trading

Michael May Investment Losses? National Investor Fraud Law Firm KlaymanToskes Investigates Former Joseph Stone Broker Suspended by FINRA for Excessive Trading

Michael May Investment Losses at Joseph Stone? KlaymanToskes investigates New York-based broker in light of FINRA suspension (“Michael May Investment Loss Investigation”) National investor fraud law firm KlaymanToskes is investigating (“Michael May Investment Loss Investigation”) former Joseph Stone broker Michael James May in light of his recent three-month suspension from the securities industry for excessive and unsuitable trading. Michael May’s Excessive Trading at Joseph Stone According to a FINRA Letter of Acceptance, Waiver, and Consent, between June 2017 and May 2018, Michael James May allegedly engaged in excessive and unsuitable trading, including the use of margin, in the account of…

Leonard Joseph Marzocco Woodstock Financial Investor Alert: Former Nesconset, New York Broker Suspended Again for Excessive Trading

Leonard Joseph Marzocco Woodstock Financial Investor Alert: Former Nesconset, New York Broker Suspended Again for Excessive Trading

Investment Losses with Leonard Joseph Marzocco Woodstock Financial? KlaymanToskes investigates former broker amid excessive trading allegations National investor fraud law firm KlaymanToskes is investigating former Woodstock Financial Services broker Leonard Joseph Marzocco (“Marzocco Woodstock Financial Investigation”) in light of his recent suspension from the securities industry for excessive and unsuitable trading. FINRA Suspends Leonard Joseph Marzocco in October 2021 According to an October 2021 FINRA Letter of Acceptance, Waiver and Consent, Marzocco excessive and unsuitably traded the account of one customer between June and December 2019. During the period, Marzocco recommended more than 160 options transactions to Customer A. The…

ATTENTION KALOS CAPITAL GPB CAPITAL INVESTORS: National Investor Fraud Law Firm KlaymanToskes Continues Pursuit of FINRA Arbitration Claims for GPB Investment Losses

ATTENTION KALOS CAPITAL GPB CAPITAL INVESTORS: National Investor Fraud Law Firm KlaymanToskes Continues Pursuit of FINRA Arbitration Claims for GPB Investment Losses

Kalos Capital GPB Investment Losses? KlaymanToskes Investigates Potential FINRA Arbitration Claims Relating to Kalos Capital’s Sales Practices of GPB Capital National investor fraud law firm, KlaymanToskes (“KT”), is investigating (“Kalos Capital GPB Investigation”) FINRA arbitration claims on behalf of investors who were solicited to purchase millions of dollars in GPB Capital Holdings (“GPB”). Brokerage firms such as Kalos Capital sold and marketed non-registered private placement notes through inadequate disclosure of illiquidity, high risks, and commissions, which made the investments unsuitable for most investors. SEC Lawsuit Against GPB Capital In November 2021, the Monitor over GPB Capital filed a Quarterly Report…

ATTENTION GENEOS WEALTH MANAGEMENT GPB CAPITAL INVESTORS: National Investor Fraud Law Firm KlaymanToskes Continues Pursuit of FINRA Arbitration Claims for GPB Investment Losses

ATTENTION GENEOS WEALTH MANAGEMENT GPB CAPITAL INVESTORS: National Investor Fraud Law Firm KlaymanToskes Continues Pursuit of FINRA Arbitration Claims for GPB Investment Losses

Geneos Wealth Management GPB Investment Losses? KlaymanToskes Investigates Potential FINRA Arbitration Claims Relating to Geneos Wealth Management’s Sales Practices Concerning GPB Capital National investor fraud law firm, KlaymanToskes (“KT”), is investigating (“Geneos Wealth Management GPB Capital Investigation”) FINRA arbitration claims on behalf of investors who were solicited to purchase millions of dollars in GPB Capital Holdings (“GPB”). Brokerage firms such as Geneos Wealth Management sold and marketed non-registered private placement notes through inadequate disclosure of illiquidity, high risks, and commissions, which made the investments unsuitable for most investors. SEC Lawsuit Against GPB Capital In November 2021, the Monitor over GPB…

ATTENTION FSC SECURITIES GPB CAPITAL INVESTORS: National Investor Fraud Law Firm KlaymanToskes Continues Pursuit of FINRA Arbitration Claims for GPB Investment Losses

ATTENTION FSC SECURITIES GPB CAPITAL INVESTORS: National Investor Fraud Law Firm KlaymanToskes Continues Pursuit of FINRA Arbitration Claims for GPB Investment Losses

GPB FSC Securities Investment Losses? KlaymanToskes Investigates Potential FINRA Arbitration Claims Relating to FSC Securities’ Sales Practices Concerning GPB Capital National investor fraud law firm, KlaymanToskes (“KT”), is investigating (“GPB FSC Securities Investigation”) FINRA arbitration claims on behalf of investors who were solicited to purchase millions of dollars in GPB Capital Holdings (“GPB”). Brokerage firms such as FSC Securities sold and marketed non-registered private placement notes through inadequate disclosure of illiquidity, high risks, and commissions, which made the investments unsuitable for most investors. SEC Lawsuit Against GPB Capital In November 2021, the Monitor over GPB Capital filed a Quarterly Report…

SwapStar Capital Investor Alert: National Investor Fraud Law Firm KlaymanToskes Investigates New Jersey Investment Advisor Fraud in Light of SEC, CFTC Charges

SwapStar Capital Investor Alert: National Investor Fraud Law Firm KlaymanToskes Investigates New Jersey Investment Advisor Fraud in Light of SEC, CFTC Charges

Investment Losses with SwapStar Capital? KlaymanToskes Investigates Barred New Jersey Investment Adviser and Firm Swapstar Capital National investor fraud law firm is investigating SwapStar Capital in light of the SEC and Commodity and Futures Trading Commission’s actions filed against the firm and Swapnil Rege in October 2020. SwapStar Capital Fraud Investigation On October 26, 2021, the SEC charged a New Jersey-based individual with stealing money from investment advisory clients, and doing so while he was subject to a prior SEC order barring him from being in the investment advisory business. SEC Complaint The SEC’s complaint alleges that that Swapnil J.…

ATTENTION CROWN CAPITAL SECURITIES GPB CAPITAL INVESTORS: National Investor Fraud Law Firm KlaymanToskes Continues Pursuit of FINRA Arbitration Claims for GPB Investment Losses

ATTENTION CROWN CAPITAL SECURITIES GPB CAPITAL INVESTORS: National Investor Fraud Law Firm KlaymanToskes Continues Pursuit of FINRA Arbitration Claims for GPB Investment Losses

Crown Capital GPB Capital Investment Losses? KlaymanToskes Announces Crown Capital GPB Capital Investigation National investor fraud law firm, KlaymanToskes (“KT”), is investigating (“Crown Capital GPB Capital Investigation”) FINRA arbitration claims on behalf of investors who were solicited to purchase millions of dollars in GPB Capital Holdings (“GPB”). Brokerage firms such as Crown Capital sold and marketed non-registered private placement notes through inadequate disclosure of illiquidity, high risks, and commissions, which made the investments unsuitable for most investors. SEC Lawsuit Against GPB Capital In November 2021, the Monitor over GPB Capital filed a Quarterly Report in the SEC’s lawsuit stating that…

AEGIS CAPITAL INVESTOR ALERT: National Investor Fraud Law Firm KlaymanToskes Investigates Aegis Capital after FINRA Sanctions Aegis Capital and its Melville Branch Manager For Supervisory Violations Costing Investors Millions

AEGIS CAPITAL INVESTOR ALERT: National Investor Fraud Law Firm KlaymanToskes Investigates Aegis Capital after FINRA Sanctions Aegis Capital and its Melville Branch Manager For Supervisory Violations Costing Investors Millions

FINRA sanctions Aegis Capital for $2.8 million including $1.7 million in restitution to customers for excessive and unsuitable trading in Aegis’ customer accounts. The remaining $1.1 million of the sanction represents a fine by FINRA for Aegis’ supervisory violations. FINRA Investigation FINRA investigated and identified Aegis’ failure to design and implement a reasonably effective supervisory system to comply with FINRA’s suitability requirements for the period of July 2014 through December 2018. As such, Aegis failed to recognize potentially excessive and unsuitable trading in customer accounts. Aegis also failed to act on 700 out of 900 exception reports specifically designed to…

DAVID MELILLI INVESTOR ALERT: National Investor Fraud Law Firm KlaymanToskes Announces Investigation of FINRA Barred Financial Advisor David Melilli

DAVID MELILLI INVESTOR ALERT: National Investor Fraud Law Firm KlaymanToskes Announces Investigation of FINRA Barred Financial Advisor David Melilli

David Melilli Cambridge Investment Investment Losses? KlaymanToskes Investigates Former Moorestown, NJ Broker National investor fraud law firm KlaymanToskes announces its investigation (“David Melilli Cambridge Investment Investigation”) former Cambridge Investment Research broker David Melilli (Moorestown, NJ). The investigation is in light David Melilli’s bar from the securities industry relating to allegations concerning his exercising of discretion without written authorization in a client’s account. David Melilli Cambridge Investment Investigation David Melilli refused to comply with FINRA’s request for documents and information during FINRA’s investigation. Failure to comply with a FINRA investigation is, in and of itself, a violation of securities’ industry rules.…

ATTENTION ROYAL ALLIANCE GPB CAPITAL INVESTORS: National Investor Fraud Law Firm KlaymanToskes Continues Pursuit of FINRA Arbitration Claims Seeking Millions in GPB Capital Losses Against Royal Alliance as GPB Capital Develops Plan to Return Investor Funds

ATTENTION ROYAL ALLIANCE GPB CAPITAL INVESTORS: National Investor Fraud Law Firm KlaymanToskes Continues Pursuit of FINRA Arbitration Claims Seeking Millions in GPB Capital Losses Against Royal Alliance as GPB Capital Develops Plan to Return Investor Funds

Royal Alliance GPB Capital Investment Losses? KlaymanToskes Investigates Royal Alliance for GPB Capital National investor fraud law firm, KlaymanToskes (“KT”), continues to investigate (“Royal Alliance GPB Investigation”) and pursue FINRA arbitration claims on behalf of investors who were solicited to purchase millions of dollars in GPB Capital Holdings (“GPB”), including a claim seeking damages up to $5,000,000 against Royal Alliance Associates. KT strongly encourages investors who purchased GPB Capital to consider filing a securities arbitration claim with the Financial Industry Regulatory Authority to recover investment losses. GPB Capital Lawsuit – SEC Investigation of GPB Capital In November 2021, the Monitor…