November 7, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker David Stamper (CRD# 2301862) of Summit Brokerage Services and Cetera Advisor Networks following the filing of a customer complaint alleging unsuitable recommendations to invest in real estate securities, which was settled in favor of the investor for $27,500. According to FINRA BrokerCheck, David Palmer Stamper is currently...
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November 7, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Joel Farnsworth (CRD# 1980052) of Wedbush Securities, Inc. following the filing of a customer complaint alleging $4,200,000 in damages due to negligence and breach of fiduciary duty. According to FINRA BrokerCheck, Joel Dale Farnsworth is currently registered with Wedbush Securities, Inc. in Los Angeles, CA. Farnsworth’s BrokerCheck...
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November 7, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Kevin Kelly (CRD# 2293119) of Avantax Investment Services after two customer complaints alleging $977,914 in collective investor damages were filed with the Financial Industry Regulatory Authority (“FINRA”). One claim alleges that Kelly made unsuitable investment recommendations, while the other complaint alleges that Kelly also engaged in unauthorized...
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November 7, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Joseph LaScala of Aegis Capital Corp. (CRD# 3070261), who is facing pending allegations of unauthorized trading in a customer account. In 2022, LaScala was suspended by the Financial Industry Regulatory Authority (“FINRA”) for four months, after he allegedly engaged in short-term trading in his customer’s individual 401(k)...
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November 7, 2023 | Broker / Advisor Investigation
National investment fraud lawyers KlaymanToskes is investigating broker Marc Korsch of Arkadios Capital and Centaurus Financial, who has been permanently barred from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following his failure to respond to FINRA’s requests for information regarding his alleged misconduct. Marc Korsch is facing pending allegations of $2.3...
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November 7, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Michael Corrada (CRD# 709158) of Coastal Equities, Inc. and Center Street Securities, Inc. after two customer complaints alleging $200,000 in collective investor damages were filed with the Financial Industry Regulatory Authority (“FINRA”). The claims allege that Corrada made unsuitable recommendations to invest in Alternative Investments. According to...
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November 7, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Andrew Miles (CRD# 5986774) of Green Vista Capital and The Strategic Financial Alliance following the filing of five pending complaints with the Financial Industry Regulatory Authority (“FINRA”), alleging $1,525,000 in collective investor damages. According to FINRA BrokerCheck, broker Andrew Miles was previously registered as a broker with...
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November 7, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Kurt Cambier (CRD# 1392482) of Cambridge Investment Research following the filing of a customer complaint alleging unsuitable recommendations to invest in Oil & Gas securities. The customers further allege the investment recommendation was made for the purpose of generating high commissions and fees, and that they were...
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November 6, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Yong Seok Chang (CRD# 4440739) of Independent Financial Group after two customer complaints alleging $225,000 in collective investor damages were filed with the Financial Industry Regulatory Authority (“FINRA”). One claim alleges that Chang made unsuitable investment recommendations in structured products, while the other alleges that Chang unsuitably...
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November 6, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Michael Risko (CRD# 1975573) of Infinex Investments, Inc. and Essex National Securities, LLC, following the filing of two customer complaints alleging $407,169.99 in collective investor damages due to unsuitable recommendations to invest in real estate securities. According to FINRA BrokerCheck, Michael Risko is currently registered with Infinex...
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November 6, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Randall McGill (CRD# 1309727) of Ausdal Financial Partners, Inc. following the filing of a customer complaint alleging $75,000 in damages due to unsuitable recommendations to invest in high risk and illiquid GWG L Bonds. GWG L bonds were marketed by many brokerage firms and financial advisors as...
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November 6, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Andrew Schell (CRD# 6536347) of D.A. Davidson & Co. following the filing of 19 customer complaints which have been settled in favor of the investor for $821,440 in collective damages. Many of Schell’s customer complaints alleged an unsuitable trading strategy in non-discretionary advisory accounts, and that he...
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November 6, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes continues to investigate broker Lorraine Gallette (CRD# 6192487) of Coastal Equities, Inc., Moloney Securities Co., Inc., and Gallette Financial as the number of customer complaints filed with the Financial Industry Regulatory Authority (“FINRA”) rises to 10. The customers are seeking nearly $3 million in collective damages and allege unsuitable investments...
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November 6, 2023 | Broker / Advisor Investigation
National investment fraud lawyers KlaymanToskes is investigating broker Patrick Cavanagh (CRD# 5186630) of Spartan Capital Securities who has been suspended from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following his failure to comply with a FINRA Arbitration award which asserted causes of action including churning, fraud, and unsuitability. According to FINRA...
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November 6, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Storm Rummel (CRD# 6777604) of Bankers Life Securities, Inc. following the filing of a customer complaint alleging $65,543 in damages due to unsuitable and misrepresented recommendations to invest in an annuity. The customer alleged that she was not told she was purchasing an annuity and that she...
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November 6, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker James Kim (CRD# 5415892) of J.P. Morgan Securities after a customer complaint alleging $65,000 in investor damages was filed with the Financial Industry Regulatory Authority (“FINRA”). The claim alleged that Kim made unsuitable investment recommendations. According to FINRA BrokerCheck, James Kim is currently registered as a broker...
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November 6, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Mark Gillelen (CRD# 1868626) of LPL Financial after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”) earlier this year. The claim alleges unsuitable investment recommendations with regard to a variable annuity. According to FINRA BrokerCheck, Mark Calvin Gillelen is currently registered with LPL...
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November 3, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating Grant Birkley formerly with SagePoint Financial (CRD #293333). According to FINRA BrokerCheck, Birkley was barred from the securities industry on June 4th, 2021 due to his failure to comply with FINRA’s investigation of his employment separation from SagePoint Financial due to “making referrals to an outside asset manager without the firm’s approval.”...
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November 3, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes continues investigating broker Linda Wimsatt of American Trust Investment Services, Inc., Chicago Capital Management Advisors, and WestPark Capital, Inc. (CRD# 1401802) after 7 customer complaints seeking over $1,000,000 in investor damages were filed with the Financial Industry Regulatory Authority (“FINRA”). Many of Wimsatt’s customers allege unsuitable investment recommendations, negligence, breach...
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November 3, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker John Darmanian (CRD# 2899924) of Western International Securities following the law firm’s filing of a customer complaint with the Financial Industry Regulatory Authority (“FINRA”), alleging up to $500,000 in investor damages due to unsuitable recommendations to invest in alternative investments. According to the claim filed by KlaymanToskes,...
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November 3, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker John Cimino of Wells Fargo (CRD# 4757028) following the filing of a customer complaint with the Financial Industry Regulatory Authority (“FINRA”), seeking $648,745 in damages due to unsuitable investment recommendations. According to FINRA BrokerCheck, John Cimino was previously registered as a broker/investment advisor with Wells Fargo Advisors...
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November 3, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Danny Strain of Cape Securities (CRD# 437903) following the filing of a customer complaint with the Financial Industry Regulatory Authority (“FINRA”), seeking $191,000 in damages due to misrepresented and unsuitable investment recommendations, in addition to churning and lack of supervision. According to FINRA BrokerCheck, Danny Ray Strain...
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November 3, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating previously registered broker Gary Sauve of Centaurus Financial after six customer complaints seeking $465,000 in collective investor damages were filed with the Financial Industry Regulatory Authority (“FINRA”). Many of Sauve’s customers allege unsuitable investment recommendations and breach of fiduciary duty in connection with high-risk, high-commission, and illiquid Alternative...
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November 2, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Ronald Metcalf (CRD# 1280602) of Voya Financial Advisors and Cetera Advisor Networks, after two customer complaints seeking $989,897 in collective investor damages were filed with the Financial Industry Regulatory Authority (“FINRA”) earlier this year. The claims allege failure to supervise with regard to unsuitable recommendations to invest...
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November 2, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Rodney Ferruso (CRD# 1457661) of Royal Alliance Associates, 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 in connection with the regulator’s investigation concerning his departure from Osaic...
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November 1, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating Ricky Mantei (CRD# 1098981) of Centaurus Financial following the filing of 41 customer complaints with the Financial Industry Regulatory Authority (“FINRA”) against the Lexington, SC-based broker/advisor. Mantei’s customers allege unsuitable investment recommendations, including in high-risk, speculative illiquid investments. Investors that suffered losses with Ricky Mantei are encouraged to...
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November 1, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Mike Nielson (CRD# 4546896) after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), seeking nearly $150,000 in investor damages due to unsuitable investment recommendations in GWG L Bonds, a high risk, high commission illiquid Alternative Investment. According to FINRA BrokerCheck, Michael Glen Nielson...
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November 1, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Eric Kleiner of Morgan Stanley (CRD# 4135180) after a customer complaint seeking $300,000 in damages was filed with the Financial Industry Regulatory Authority (“FINRA”). The customer further alleges that Kleiner made unsuitable recommendations to invest in cannabis securities which were unsuitable and not in the customer’s best...
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November 1, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Michael Molinaro (CRD# 2358346) of Network 1 Financial Securities following his suspension from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”) due to the firm’s failure to establish, maintain, and enforce a supervisory system, including written supervisory procedures (“WSPs”), reasonably designed to achieve compliance...
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November 1, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker John Drabek (CRD# 1335813) of Calton & Associates, Inc. after a customer complaint seeking $200,000 in damages was filed with the Financial Industry Regulatory Authority (“FINRA”). The customers allege unsuitable recommendations to invest in Griffin Realty Trust and CIM Real Estate Finance Trust. According to FINRA BrokerCheck,...
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