Georgia

Sep 13th, 2015
Published by Jeremy Hyndman at Sep 13th, 2015
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John M. Saad Permanently Barred After Falsifying Expense Reports

John Michael Elias Saad of Atlanta, Georgia was recently barred “from acting as a broker or otherwise associating with firms that sell securities to the public.” […]
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Sep 10th, 2015
Published by Jeremy Hyndman at Sep 10th, 2015
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Cape Securities’ CCO Michael Lovett Establishes Inadequate Supervisory System That Leads to Wire Transfer Fraud

Michael Allen Lovett of Lawrenceville, Georgia was recently fined $5,000 and suspended for six months, according to Financial Industry Regulatory Authority, or FINRA. Reports detail that […]
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Aug 31st, 2015
Published by Jeremy Hyndman at Aug 31st, 2015
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Cape Securities’ Representative Caught in Fraudulent Wire Transfer Activity

Recent reports from Financial Industry Regulatory Authority, or FINRA, detail a macabre series of fraudulent wire transfers. From February through September 2012, a registered representative of […]
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Jun 3rd, 2015
Published by Jeremy Hyndman at Jun 3rd, 2015
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Gray Financial Group Defrauds Police And Firefighter Pension Funds

The Securities and Exchange Commission (“SEC”) has charged Gray Financial Group, as well as its president, Laurence Gray (“Gray”), and co-CEO, Robert Hubbard (“Hubbard”), with fraud. […]
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Apr 21st, 2015
Published by Jeremy Hyndman at Apr 21st, 2015
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Atlanta Broker-Dealer Pays for Charging Customers Excessive Markups on Corporate Bonds

IFS Securities, Inc. (“IFS Securities” or the “firm”) of Atlanta, Georgia was censured and fined for selling corporate bonds to its customers with unreasonable markups given […]
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Apr 7th, 2015
Published by Jeremy Hyndman at Apr 7th, 2015
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Norcross Stockbroker Suspended for Failing to Disclose Outside Business Ventures

Sunil Sachdeva of Norcross, Georgia was fined $10,000 and suspended for participating in outside business activities while willfully concealing the information from his employer. An employee […]
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Jan 19th, 2015
Published by Jeremy Hyndman at Jan 19th, 2015
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Alpharetta Stockbroker Fined For Failure To Report IRS Liens

Michael “Mike” Smith of Financial Telesis has been suspended for failure to disclose numerous federal tax liens filed against him. Stockbrokers are required to report several […]
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Jan 12th, 2015
Published by Jeremy Hyndman at Jan 12th, 2015
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Zhunrise Multilevel Marketing Plan is Ponzi Scheme, Says SEC

Zhunrise is a popular multilevel marketing company, taking in approximately 77,000 investors and $105 million since 2012 but, according to the SEC, it is also a […]
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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 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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