December 14, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Jeffrey Kennedy (CRD# 5094149) of Center Street Securities, Inc., following the filing of ten pending customer complaints with the Financial Industry Regulatory Authority (“FINRA”), alleging over $2,700,000 in collective damages due to unsuitable recommendations to invest in Alternative Investments. According to FINRA BrokerCheck, broker Jeffrey Kennedy was...
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December 12, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker David Arlein (CRD# 7145) of Cabot Lodge Securities after two customer complaints were filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $800,000 in collective investor damages due to unsuitable recommendations to invest in high-risk and illiquid GWG L Bonds. In April 2022, GWG Holdings, Inc. filed...
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December 12, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Ravid Gold (CRD# 6314469) of Actinver Securities, Inc., who has been suspended from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following allegations that he circumvented the firm’s policies regarding cross trades, specifically the requirement to obtain prior written customer consent. FINRA’s investigation found...
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December 12, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker David Shaw (CRD# 5337265) of Securian Financial Services and Cetera Advisor Networks after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging that the customer’s account was invested too aggressively and lost significant value. The complaint was settled in favor of the investor...
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December 12, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Fernando Corujo (CRD# 5657513) of Lincoln Financial Securities Corp. after a regulatory action was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging that he sold high-risk and unregistered Promissory Notes in the United States and Puerto Rico, through Providence Financial Investments, Inc. and PFI Global, whereby...
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December 12, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Pasquale Capone (CRD# 2487767) of Wells Fargo Clearing Services after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $600,000 in damages due to unsuitable investment recommendations. According to FINRA BrokerCheck, broker Pasquale Capone is currently registered as a broker with Wells Fargo...
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December 12, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Alex Kline (CRD# 1271785) of Cambridge Investment Research after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $500,000 in damages due to unsuitable recommendations to invest in a real estate security. According to FINRA BrokerCheck, Alexander Patrick Kline a/k/a Alex Kline is...
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December 12, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Frank Martin (CRD# 2859847) of Arive Capital Markets and LPL Financial, who has been suspended from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following allegations that he failed to reasonably supervise six Arive Capital Markets registered representatives, who each excessively traded one or...
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December 12, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Lawrence Krause (CRD# 275153) of B.B. Graham & Company following the filing of a customer complaint alleging unsuitable recommendations to invest in 2,500 shares of SHOP purchased for the client’s investment advisory account. The customer allegedly subsequently claimed that the representative purchased too many shares, resulting in...
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December 12, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Robert Doyle (CRD# 2309859) of Axiom Capital Management after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $1,000,000 in damages due to his use of unauthorized discretion over the client’s account(s), excessive trading, unsuitable investment recommendations, and excessive fees. According to FINRA...
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December 12, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Brian Culver (CRD# 6392736) of Cambridge Investment Research after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $500,000 in investor damages due to highly speculative and unsuitable recommendations to invest in Exchange Traded Funds (ETFs). According to FINRA BrokerCheck, broker Brian Culver...
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December 12, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Marion Leonberger (CRD# 1083568) of American Equity Investment Corp. following the filing of a customer complaint alleging $100,000 in damages due to unsuitable recommendations to invest in high risk and illiquid GWG L Bonds. In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspending their monthly dividends...
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December 12, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Kaled Khaznehkatbi (CRD# 5726875) of Osaic Wealth, Inc. and Royal Alliance Associates after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $146,000 in damages and that he surrendered the customer’s annuity and reinvested the funds. According to FINRA BrokerCheck, broker Kaled Khaznehkatbi...
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December 11, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Raul Benitez (CRD# 4457185) of Truist Investment Services (f/k/a Suntrust Investment Services) after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $500,000 in damages due to unsuitable investment recommendations. According to FINRA BrokerCheck, broker Raul Benitez was previously registered with Truist Investment...
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December 11, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Shane DeSherlia (CRD# 6800960) of Moloney Securities after two customer complaints were filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $682,000 in collective damages due to unsuitable investment recommendations and negligence. According to FINRA BrokerCheck, broker Shane DeSherlia is currently registered with Moloney Securities in Jerseyville,...
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December 11, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Sean Pong (CRD# 2406530) of U.S. Bancorp Investments, Inc., who has been permanently barred from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following his failure to appear for on-the-record testimony as requested by FINRA, in connection with the regulator’s investigation into his Outside...
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December 11, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Alan Appelbaum (CRD# 500336) of Aegis Capital Corp., who has been permanently barred from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following his failure to provide information and documents as requested by FINRA in connection with the regulator’s investigation into his potential sales...
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December 11, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Tom Bates (CRD# 1037294) of Cambridge Investment Research after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $500,000 in damages due to unsuitable investment recommendations. The complaint further alleges that the investments were misrepresented to the customer. According to FINRA BrokerCheck, Thomas...
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December 11, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Lien Nguyen (CRD# 2662699) of MML Investors Services after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $407,141 in damages due to misrepresented investments. The customer further alleges that he was promised that he would receive a larger 4% return in profits...
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December 11, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker William Hutchingson (CRD# 2131647) of Cetera Investment Services after two customer complaints were filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $150,000 in collective damages due to unsuitable investment recommendations in real estate securities. According to FINRA BrokerCheck, broker William Hutchingson is currently registered with Cetera...
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December 11, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Guy Colella (CRD# 1646164) of Ameriprise Financial Services after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $420,000 in damages due to unsuitable investment recommendations, including that he recommended that the customers surrender their annuities and invest in unsuitable stocks and mutual...
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December 11, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Alan Mason (CRD# 1309727) of Westpark Capital, Inc. following the filing of a customer complaint alleging $5,000,000 in damages due to unsuitable recommendations to invest in high risk and illiquid GWG L Bonds. In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspending their monthly dividends and...
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December 11, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker James Bernthal (CRD# 4871243) of Aegis Capital Corp. after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $771,631 in damages due to misrepresentation and omission of material facts, and unauthorized trading. According to FINRA BrokerCheck, broker James Bernthal is currently registered with...
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December 11, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Estevao Dias Semedo (CRD# 4631886) of PFS Investments, who has been permanently barred from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following his refusal to provide information and documents as requested by FINRA, in connection with the regulator’s investigation into whether he engaged...
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December 8, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Peter Hafner (CRD# 2251932) of Next Financial Group and First Allied Securities (Cetera Advisors), following the firm’s filing of a FINRA Arbitration claim (no. 23-03273) on the behalf of a retired couple seeking to recover up to $500,000 in connection with being recommended to invest in unsuitable,...
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December 7, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Kerri Jamison (CRD# 4348584) of Newbridge Securities Corp. after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging breach of fiduciary duty, suitability, misrepresentations, breach of contract, negligence and failure to supervise. The complaint allegedly relates to recommendations to invest in Alternative Investments....
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December 7, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Craig McDaniel (CRD# 1087979) of Capital Investment Group following the filing of two customer complaints alleging $250,000 in collective investor damages due to unsuitable recommendations to invest in high risk and illiquid GWG L Bonds. In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspending their monthly...
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December 7, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Mark Elias (CRD# 2938707) of UBS Financial Services after two customer complaints were filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $1,300,000 in damages due to unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy. According to FINRA BrokerCheck,...
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December 7, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker James Walesa (CRD# 1061209) of Arkadios Capital and Triad Advisors after five customer complaints were filed with the Financial Industry Regulatory Authority (“FINRA”), alleging over $7,000,000 in collective investor damages due to unsuitable investment recommendations. Many of the complaints filed against Walesa are allegedly regarding recommendations to...
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December 7, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Joseph Audia (CRD# 2909761) of Joseph Stone Capital after two customer complaints were filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $645,000 in collective investor damages due to unsuitable investment recommendations. One of the complaints filed against Audia also alleges churning, negligence, unauthorized trading, breach of...
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