ATTENTION Eric Hollifield Hamilton Investment Counsel Customers: Dacula, Georgia Investment Advisor Accused of Misappropriating $1.24M of Client Funds

ATTENTION Eric Hollifield Hamilton Investment Counsel Customers: Dacula, Georgia Investment Advisor Accused of Misappropriating $1.24M of Client Funds

National investor fraud law firm, KlaymanToskes (“KT”), has commenced an investigation (“Eric Hollifield Hamilton Investment Counsel Investigation”) into former Hamilton Investment Counsel, LLC investment advisor, Eric Shea Hollifield (“Eric Hollifield”) in light of a disciplinary bar disclosed by FINRA. In October 2021, FINRA barred Eric Hollifield from the securities industry. The bar follows a customer dispute alleging Eric Hollifield misappropriated $1,240,000 of client funds. Eric Hollifield Hamilton Investment Counsel and the October 2021 FINRA Disciplinary Action According to BrokerCheck, FINRA barred Eric Hollifield for refusing to appear for on-the-record testimony or to produce the documents and information requested pursuant in…

Eric Hollifield LPL Financial Investor Alert: FINRA Bars Dacula, Georgia Broker

Eric Hollifield LPL Financial Investor Alert: FINRA Bars Dacula, Georgia Broker

National investor fraud law firm, KlaymanToskes (“KT”), has commenced an investigation (“Eric Hollifield LPL Financial Investigation”) into former LPL Financial broker Eric Shea Hollifield (“Eric Hollifield”) in light of a disciplinary bar disclosed by FINRA. In October 2021, FINRA barred Eric Hollifield from the securities industry. The bar follows a customer dispute alleging Eric Hollifield misappropriated $1,240,000 of client funds. Eric Hollifield LPL Financial and the October 2021 FINRA Disciplinary Action According to BrokerCheck, FINRA barred Eric Hollifield for refusing to appear for on-the-record testimony or to produce the documents and information requested pursuant in connection with FINRA’s investigation into…

Jeffrey Dampf PFS Investments, Inc. Investor Alert: FINRA Bars PFS Investments, Inc. Broker

Jeffrey Dampf PFS Investments, Inc. Investor Alert: FINRA Bars PFS Investments, Inc. Broker

National investor fraud law firm, KlaymanToskes (“KT”), has commenced an investigation (“Jeffrey Dampf PFS Investments, Inc. Investigation”) into former PFS Investments, Inc. broker Jeffrey Dampf stemming from a disciplinary bar disclosed by FINRA. On October 1, 2021, FINRA barred Jeffrey Dampf for refusing to provide on-the-record testimony or produce documents and information requested by FINRA in connection with its investigation into allegations that Jeffrey Dampf misappropriated funds from elderly individuals. In 2020, Jeffrey Dampf was criminally charged with attempted theft for trying to electronically transfer money from an elderly person, with whom he held power of attorney, for Jeffrey Dampf’s…

ATTENTION THOMAS STRATTON WORLD CHOICE SECURITIES CUSTOMERS: FINRA BARS BROKER RELATING TO ITS INVESTIGATION OF POTENTIAL MISUSE OF CUSTOMER FUNDS

ATTENTION THOMAS STRATTON WORLD CHOICE SECURITIES CUSTOMERS: FINRA BARS BROKER RELATING TO ITS INVESTIGATION OF POTENTIAL MISUSE OF CUSTOMER FUNDS

National investor fraud law firm, KlaymanToskes (“KT”), has commenced an investigation (“Thomas Stratton World Choice Securities Investigation”) into World Choice Securities broker Thomas Ward Stratton in light of his recent bar from the securities industry. On August 12, 2021, FINRA disclosed in a Letter of Acceptance, Waiver and Consent that it has barred World Choice Securities broker Thomas Stratton relating to his refusal to provide information and documents requested pursuant to FINRA Rule 8210 and 2010. The matter originated from a tip to FINRA’s Securities Helpline for Seniors. What is a FINRA AWC? According to FINRA Rule 9216, if FINRA’s Department of Enforcement…

ATTENTION FELIX CHU NYLIFE SECURITIES CUSTOMERS: KlaymanToskes Announces Investigation of Former California-Based NYLife Securities Broker

ATTENTION FELIX CHU NYLIFE SECURITIES CUSTOMERS: KlaymanToskes Announces Investigation of Former California-Based NYLife Securities Broker

National investor fraud law firm, KlaymanToskes (“KT”), has commenced an investigation (Felix Chu NYLife Securities Investigation) into former NYLife Securities broker Felix Chu in light of allegations of him running a Ponzi scheme involving promissory notes. Felix Chu was formerly registered out of NYLife’s Pleasant Hill, California branch location. Felix Chu, Derek Chu, and Promissory Note Ponzi Scheme Allegations Former customers of Felix Chu allege that the former NYLife broker recommended them to invest life insurance proceeds, retirement funds, and other assets in the purchase of unregistered promissory notes issued by Felix Chu and his son, Derek Chu, or entities…

NORTHSTAR FINANCIAL SERVICES (Bermuda) INVESTMENT RECOVERY: KlaymanToskes Investigates Investor Losses

NORTHSTAR FINANCIAL SERVICES (Bermuda) INVESTMENT RECOVERY: KlaymanToskes Investigates Investor Losses

National investor fraud law firm, KlaymanToskes (“KT”), announces an investigation on behalf of investors in Northstar Financial Services (Bermuda) Ltd. following its recent bankruptcy and order to liquidate by the Bermuda government.   What is Northstar Financial Services (Bermuda) Ltd? Originally created in the 1990s, Northstar Financial Services was a Segregated Accounts Company regulated by the Bermuda Monetary Authority, and touted its fixed and variable annuities products as offering segregated account protection, generous liquidity terms and a variety of commitment periods, as well as the benefits of a Bermuda trust structure. Northstar Financial Services (Bermuda) had an international reach. As of…

Former LPL Financial Advisor Paul McGonigle Investigation

Former LPL Financial Advisor Paul McGonigle Investigation

National investor fraud law firm, KlaymanToskes (“KT”), has commenced an investigation in light of recent criminal charges concerning Paul R. McGonigle (“McGonigle”), who worked at LPL Financial (“LPL”) from February 2018 to June 2019. On June 9, 2021, the Department of Justice (“DOJ”) charged McGonigle with three counts of wire fraud, one count of mail fraud, and one count of aggravated identity theft in connection with defrauding elderly clients and stealing their retirement assets. In November 2020, Financial Industry Regulatory Authority barred McGonigle as a broker for failing to respond to a request for information via an expedited proceeding. According…

Stanford Law School Cornerstone Research Report Released with New Developments for IPOs  and SPACs

Stanford Law School Cornerstone Research Report Released with New Developments for IPOs and SPACs

In February 2021, the Stanford Law School in collaboration with Cornerstone Research published the Class Action Filings, 2020 Year in Review, Report which detailed a wide range of statistics related to class action filings and upcoming trends.  In particular, the increase in Initial Public Offerings (IPOs) for Operating Companies and Special Purpose Acquisition Companies (SPACs) has grown substantially during 2020 when compared to recent periods which portends an increase in class action lawsuits related to IPOs. During 2020, Operating Company IPOs increased from 112 in the previous year to 165 for a 47% increase in class action filings compared to…

NOTICE TO ALL NEXT FINANCIAL GROUP, INC. CLIENTS: The Securities Arbitration Law Firm of Klayman & Toskes, P.A. Launches Investigation for Failure to Supervise Excessive Trading and Unsuitable Trade Recommendations Resulting in Damages in Excess of $10 Million

The Securities Arbitration Law Firm of Klayman & Toskes, P.A. (“K&T”), www.klaymantoskes.com, launches an investigation against Next Financial Group, Inc. (“NEXT”) (CRD #46214) based on its failure to supervise for excessive trading, short-short term mutual fund trading, securities concentration, and elder abuse resulting in damages in excess of $10 million in a customer’s accounts.  The investigation centers around a FINRA arbitration claim K&T is preparing to file against NEXT for failure to supervise its broker in Corpus Christi, Texas.  NEXT was fined $750,000 in December of 2017 for failing to adequately supervise a broker during the same timeframe alleged (2014 and 2015), allowing excessive trading to occur in customer accounts. …

FINRA Submits Rule to SEC to Protect Against Elderly Financial Fraud

FINRA Submits Rule to SEC to Protect Against Elderly Financial Fraud

The Financial Industry Regulatory Authority (FINRA) has submitted new rule changes for the Securities Exchange Commission (SEC) to approve which is designed to help prevent elder financial fraud.  The proposed rule changes will require brokerage firms to “make reasonable efforts” to obtain contact information for “trusted” individuals who are designated by elderly account holders.  The “trusted” individuals, such as close friends and family members, would be contacted by brokerage firms in the event of suspicious activities related to an elderly person’s investment accounts.  In a recent press release, FINRA proposed changes that would allow brokerage firms to place a temporary…

Elder Financial Fraud Victims:  The Securities Arbitration Law Firm of Klayman & Toskes, P.A. Expands Practice to Representation of Victims of Elder Financial Fraud

Elder Financial Fraud Victims: The Securities Arbitration Law Firm of Klayman & Toskes, P.A. Expands Practice to Representation of Victims of Elder Financial Fraud

Boca Raton, Florida (GLOBE NEWSWIRE) – September 27, 2015 – The Securities Arbitration Law Firm of Klayman & Toskes, P.A. (“K&T”), www.klaymantoskes.com, expands its practice to include the representation of victims of elder financial fraud.  According to the Department of Justice (“DOJ”), U.S. Attorney’s Office Elder Justice Task Force reports, “Speaking only of the financial impact of elder abuse, it is estimated that elderly Americans lose an estimated $2.6 billion or more annually due to financial abuse or exploitation.”  The DOJ’s Elder Justice Initiative website provides important information for the elderly and their families.  The Elder Justice Task Force is…