(NKLA) Nikola Investment Losses? National Investor Fraud Law Firm KlaymanToskes Investigates Nikola in Light of $125M Settlement for Fraud Charges

(NKLA) Nikola Investment Losses? National Investor Fraud Law Firm KlaymanToskes Investigates Nikola in Light of $125M Settlement for Fraud Charges

National investor fraud law firm KlaymanToskes is investigating Nikola (NASDAQ: NKLA) in light of the company’s $125M settlement with the Securities & Exchange Commission (“SEC”) regarding fraud charges.  What is Nikola? Nikola is a publicly traded zero emissions transportation system provider that designs and manufactures battery electric vehicles (“BEV”), hydrogen fuel cell electric vehicles (“FCEV”), and hydrogen station infrastructure. Nikola was created through a special purpose acquisition corporation in 2020. According to its SEC filings, Nikola operates in two business units: Truck and Energy.  The Truck business unit is developing and commercializing battery electric vehicles, or BEV, and hydrogen fuel…

Merrill Lynch ACH Transfer Failure To Supervise Results in Fines Totalling Nearly $1 Million

Merrill Lynch ACH Transfer Failure To Supervise Results in Fines Totalling Nearly $1 Million

Merrill Lynched Fined Nearly $1 Million for Alleged ACH Transfer Supervision Failure According to a FINRA Letter of Acceptance, Waiver & Consent, from May 2013 through November 2018, Merrill Lynch allegedly failed to supervise the transmittal of customer funds via externally-initiated Automated Clearing House) transfers. As a result, the brokerage firm failed to detect that two of its registered representatives were able to steal in excess of $6 million. Merrill Lynch’s Failure to Reasonably Supervise ACH Transfers In May 2013, Merrill Lynch terminated a registered representative who made payments exceeding $100,000 from two of her customer’s brokerage accounts to her…

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…

RICHARD WESSELT INVESTOR ALERT: National Investor Fraud Law Firm KlaymanToskes Announces Investigation of FINRA Barred Financial Advisor Richard Wesselt

RICHARD WESSELT INVESTOR ALERT: National Investor Fraud Law Firm KlaymanToskes Announces Investigation of FINRA Barred Financial Advisor Richard Wesselt

Financial Advisor Richard Wesselt has been barred by FINRA. FINRA barred financial advisor Richard Wesselt made unsuitable recommendations that did not take into account his customer’s risk tolerance, liquidity needs, and time horizon. In many cases, Richard Wesselt recommended his customers liquidate their tax-deferred retirement accounts causing them to lose the benefit of these types of accounts. Then, he recommended that those same investors use the proceeds from their retirement accounts to purchase variable annuities. Once those new accounts were established, he recommended that the investors take early withdrawals. Richard Wesselt’s recommendations lead to surrender charges, fees, and penalties. Moreover,…

EUGENE MCADAMS JOSEPH STONE INVESTOR ALERT: National Investor Fraud Law Firm KlaymanToskes Investigates Barred Broker in Light of FINRA Suitability Investigation

EUGENE MCADAMS JOSEPH STONE INVESTOR ALERT: National Investor Fraud Law Firm KlaymanToskes Investigates Barred Broker in Light of FINRA Suitability Investigation

Eugene McAdams Joseph Stone Customer? Ex-Joseph Stone Capital, LLC Broker Barred by Securities Industry as FINRA Investigate Suitability Recommendations National investor fraud law firm, KlaymanToskes (“KT”), has commenced an investigation (“Eugene McAdams Joseph Stone Investigation”) into former Joseph Stone Capital, LLC broker Eugene Arthur McAdams in light of a disciplinary bar disclosed by FINRA. In August 2021, FINRA barred Eugene McAdams from the securities industry. The bar relates to Eugene McAdams’s refusal to appear for on-the-record (“OTR”) testimony to FINRA. The OTR testimony relates to FINRA’s investigation into the suitability of McAdam’s recommended securities transactions in customers’ accounts while registered…

SCOTT HANANEL AEGIS CAPITAL INVESTOR ALERT: Former Melville, NY Broker Facing Customer Disputes on Investment Losses

SCOTT HANANEL AEGIS CAPITAL INVESTOR ALERT: Former Melville, NY Broker Facing Customer Disputes on Investment Losses

National investor fraud law firm, KlaymanToskes (“KT”), has commenced an investigation into former Aegis Capital broker Scott Hananel (“Scott Hananel Aegis Capital Investigation”) in light of recent FINRA customer disputes filed claiming investment losses relating to the former Melville, NY broker. Scott Hananel Aegis Capital Investigation – BrokerCheck According to FINRA BrokerCheck, former Aegis Capital broker Scott Neil Hananel was last registered with Aegis Capital Corporation (Branch Location was Melville, NY) from February 2010 to February 2021. Scott Hananel’s FINRA BrokerCheck shows three pending customer disputes: February 2021. On February 1, 2021, customers filed a FINRA arbitration claim against Scott…

BDC INVESTOR ALERT: KlaymanToskes Investigates Investor Losses in Response to Medley Capital  Bankruptcy Filing Attributed to Portfolio Loan Losses Related to the COVID Pandemic

BDC INVESTOR ALERT: KlaymanToskes Investigates Investor Losses in Response to Medley Capital Bankruptcy Filing Attributed to Portfolio Loan Losses Related to the COVID Pandemic

KlaymanToskes (“KT”), announces their investigation on behalf of investors into Business Development Companies (“BDCs”), Medley Capital and Sierra Income Corp.  On March 7, 2021, Medley Capital Corp. (NYSE: MCC), a direct subsidiary of Medley Management Inc. (NYSE: MDLY), filed for Bankruptcy Protection in the U.S. Bankruptcy Court for the District of Delaware (Case: 21-10526-KBO).  Medley Management Inc., is an “alternative asset management firm offering yield solutions to retail and institutional investors” that manages Medley Capital and Sierra Income Corp., a non-traded BDC. Business Development Companies invest in loans made to non-public companies that do not have access to the traditional…