Risky Investments

May 19th, 2015
Published by Jeremy Hyndman at May 19th, 2015
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Wells Fargo Financial Advisor Recommends Customers Make Risky $2,000,000 Investment To Get Large Commissions

Douglas Jay Melzer (“Melzer”) in Mars, Pennsylvania has been barred from the securities industry for making biased recommendations to customers to invest in private securities. Melzer […]
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May 12th, 2015
Published by Jeremy Hyndman at May 12th, 2015
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Irving Securities Company EDI Financial Inc., Fined $100,000 for Failing to Supervise Customer Accounts

FINRA issued EDI Financial, Inc. (EDI), a Texas brokerage firm, a hefty $100,000 fine for pushing customers to purchase numerous private placements despite the danger of […]
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May 5th, 2015
Published by Jeremy Hyndman at May 5th, 2015
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Worcester Financial Advisor Fined for Hiding Outside Business Venture from Employer

Perry Stephen Abbonizio of Worcester, Pennsylvania was fined and suspended for participating in outside business activities, and persuading his customers to invest, without providing notice to […]
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Apr 6th, 2015
Published by Jeremy Hyndman at Apr 6th, 2015
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California Financial Advisor Issues Private Securities Without Reporting To Firm, Putting Investors At Risk

A financial advisor in Aptos, California has allegedly made private transactions without the permission of his firm. Daniel McCourt, while working for Foothill Securities, Inc., began […]
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Apr 2nd, 2015
Published by Jeremy Hyndman at Apr 2nd, 2015
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Key West Investments Fined for Unlawful Sale of Private Securities

Key West Investments, LLC (Key West), a California based brokerage firm, was recently fined for improper sales of private placements. Private securities are investments offered to […]
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Dec 8th, 2014
Published by Jeremy Hyndman at Dec 8th, 2014
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California Variable Annuities Broker Swapped Fluids to Close Sales

Antonio “Pedro” Vergaray Falcon of Granada Hills, California was terminated from NY Life after an internal investigation concluded that he had provided his own fluid samples […]
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Dec 7th, 2014
Published by Jeremy Hyndman at Dec 7th, 2014
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FINRA alleges Buford Stockbroker Improperly Sold Risky, Private Securities

Kenneth Brownlee of AllState Financial Services allegedly convinced clients to invest in a private company without disclosing the sales to his employer, and while he received […]
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Dec 6th, 2014
Published by Jeremy Hyndman at Dec 6th, 2014
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Seattle Stockbroker Suspended for Secretly Pushing Clients into Risky Pre-IPO Investments

Benjamin Doyle Maleche of LPL Financial was recently fined and suspended for failing to tell his member firm—JP Morgan at the time—that he was recommending his […]
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Dec 3rd, 2014
Published by Jeremy Hyndman at Dec 3rd, 2014
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Savannah Broker John Wesley DuRant, III Fined for Improper Sales of Equity-indexed Annuities

Mr. Durant of Pruco Securities—Prudential’s brokerage firm—was fined and suspended for improper sales of equity-indexed annuities. Equity-indexed annuities are complex financial products which generally pay high […]
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Nov 10th, 2014
Published by Jeremy Hyndman at Nov 10th, 2014
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Financial Advisor in San Jose Barred for Pushing Unsuitable Variable Universal Life Policies on Unsophisticated Investors.

Angelo Xagoraris of TransAmerica Financial Advisors was recently barred from the securities industry for violation of FINRA’s suitability and other rules. Mr. Xagoraris sold variable universal […]
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