Common Misconduct

Aug 27th, 2015

Malicious Variable Annuity Surrenders Make Treasure Trove for Cadaret, Grant & Co.

According to recent reports from Financial Industry Regulatory Authority, or FINRA, the Syracuse, New York-headquartered independent-brokerage firm Cadaret, Grant & Co., Inc. was fined $75,000 and […]
Jun 27th, 2015

Interinvest Corp Fraudulently Funnels $17 Million Earmarked for “Conservative Investing” into Sketchy Canadian Penny Stocks.

Hans P. Black and his investment advisory firm, Interinvest, are targets of an SEC complaint alleging a $17 million fraud. According to the SEC, Mr. Black’s […]
Jun 25th, 2015

Purshe Kaplan Sterling Financial Advisor Charges Clients Double

Mr. Larry Phillips of Purshe Kaplan Sterling Investments and Phillips Group Advisors was recently fined for double-charging clients. Mr. Philips purchased notes, certificates of deposit, and […]
Jun 24th, 2015

National Securities Corporation (NSC) Hides Amount of Compensation Received for Selling Private Placements.

Selling private placements can be very lucrative, paying financial advisors commissions as high as 12%. This creates a classic conflict of interest. While a financial advisor […]
Jun 18th, 2015

LPL Financial Advisor In Alhambra, California Borrows $19,700 From Investor And Then Lies To Firm

Emiliano Rocha Jr., formerly employed with LPL Financial and Invest Financial Corporation, has been suspended for seven months and fined $10,000. Rocha borrowed $19,700 from an […]
Jun 15th, 2015

Unlicensed Financial Advisors Defraud Investors Out Of $4.3 Million

Christopher A. Novinger, Brady J. Speers, and their company, NFS Group, LLC have been sued by The Securities and Exchange Commission for defrauding investors by selling […]
Jun 11th, 2015

Indianapolis Financial Advisor Makes Unauthorized Trades In Investors’ Accounts

James Madden, a financial advisor with Raymond James & Associates, has been fined and suspended for unauthorized trading in investors’ accounts. FINRA rules as well as […]
Jun 10th, 2015

Financial Advisor In Lansdale, Pennsylvania Borrows Investor Money

Robert Forest Held Jr., a financial advisor formerly employed with Hornor Townsend & Kent Inc. (“HTK”), has been suspended and fined for borrowing funds from a […]
Jun 9th, 2015

This Merrill Lynch Financial Advisor Stole Over $100K From Investors

Tammy Charlene Petersen, a financial advisor from Carrollton, Virginia, has been barred from the securities industry for stealing $107,378 from firm customers. She wired money from […]
Jun 8th, 2015

Five Million Dollar Investment Scam Rips Off Investors In Maryland, Virginia, And California

Investors were defrauded by the employees of two separate companies, North Star Finance LLC and Capital Source Lending LLC, when the employees persuaded them to invest […]