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...
Read More
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...
Read More
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...
Read More
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...
Read More
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...
Read More
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...
Read More
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...
Read More
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...
Read More
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...
Read More
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.”...
Read More
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...
Read More
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,...
Read More
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...
Read More
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...
Read More
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...
Read More
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...
Read More
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...
Read More
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...
Read More
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...
Read More
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...
Read More
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...
Read More
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,...
Read More
November 1, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Scott Matalon (CRD# 4637378) of RBC Capital Markets and Ameriprise Financial Services, 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, in connection with the regulator’s investigation concerning allegations made in...
Read More
November 1, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Kevin Springstead (CRD# 4937429) following his suspension from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”) due to his failure to comply with a FINRA Arbitration award which asserted causes of action including churning and unsuitability. According to FINRA BrokerCheck, broker Kevin Springstead was...
Read More
November 1, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Yudi Rosenzweig of MML Investors Services (CRD# 4110421) after a customer complaint seeking $350,000 in damages was filed with the Financial Industry Regulatory Authority (“FINRA”). The customer alleges that Rosenzweig advised him to partially redeem his variable annuity, to fund a whole life policy, which was misrepresented,...
Read More
November 1, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Gary Costello (CRD# 6117388) of Oppenheimer & Co., Inc. and Truist Investment Services following the filing of five customer complaints alleging over $2 million in collective investor damages due to unauthorized trading. According to FINRA BrokerCheck, Gary Steven Costello was registered as a broker with Oppenheimer &...
Read More
November 1, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Scott Roslonowski of Ameriprise Financial Services (CRD# 4795893) after two customer complaints seeking over $200,000 in collective investor damages were filed with the Financial Industry Regulatory Authority (“FINRA”). The customers further allege that Roslonowski made unsuitable recommendations to invest in variable annuities, variable universal life insurance and...
Read More
November 1, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Robert Luley (CRD# 4176139) of Pruco Securities and Madison Avenue Securities, 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, in connection with the regulator’s investigation concerning his alleged misconduct. According...
Read More
October 30, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Ryan Hall (CRD# 5077163) of Centaurus Financial and LPL Financial, after a customer complaint seeking $800,000 was filed with the Financial Industry Regulatory Authority (“FINRA”) earlier this year. The claim alleges that Hall made unsuitable investment recommendations of risky, illiquid investments, including real estate securities and variable...
Read More
October 30, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating Chelsea Deng of Morgan Stanley (CRD# 4179306) following the filing of a customer complaint with the Financial Industry Regulatory Authority (“FINRA”) alleging unsuitable investment recommendations, overconcentration in illiquid private placements, and misrepresentation. According to FINRA BrokerCheck, Chelsea Deng a/k/a Deng Zhongqun is currently registered as a broker and...
Read More
