Adam Jensen, State Farm Broker, Sanctioned by FINRA

January 30, 2015-

Adam B. Jensen  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he submitted 41 automobile insurance applications that had been falsified in various respects in an effort to improve his sales production. Subsequently he denied having engaged in this misconduct when questioned by his supervisor.

Jensen, who was registered with State Farm VP Management Corp. at the time, was barred from the securities industry by FINRA.

FINRA Case # 2014040689101

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Former Sandlapper Securities Broker Fitzhugh Duggan Sanctioned by FINRA

January 20, 2015-

Fitzhugh L. Duggan III  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that between May 2012-September 2012, while employed by Sandlapper Securities he falsely listed himself as the broker of record on applications and other documents for 23 variable annuity transactions.

Duggan was suspended for three months and fined $5,000. FINRA records indicate that prior to Sandlapper where he was registered from 3/2012-9/2012, he was registered with International Financial Solutions 2/2012-3/2012 and prior to that at New England Securities 3/2010-10/2011. He was registered with IBN Financial Services 9/2012-11/2013 and is currently registered with Allstate Financial Services.

FINRA Case # 2012034112401

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Donald Babb & Ralph Ruth of Brevard County Sentenced on Ponzi Scheme

January 30, 2014-Brevard County, FL

Donald Babb, 58, of Merritt Island, and Ralph Ruth, 61, of Melbourne, were each sentenced to 121 in federal prison after pleading guilty to an $18 million fraud scheme involving their companies Southeast Mutual Insurance and Investment , Capstar Industries and First Merchant Capital.

According to the U.S. Attorney’s office, they advertised risk-free certificates of deposit (CD) but never purchased the CDs. Instead they used the investor’s money to purchase real estate, luxury items and to pay earlier investors.

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Jeffrey Watts Sentenced On Oil & Gas Scam-Fort Worth,TX

January 30, 2015- Fort Worth, Texas

The Courthouse News Service reports that Jeffrey Watts, 41, of Fort Worth was sentenced to 6 and a half years in federal prison and ordered to pay $4.6 million in restitution for falsely representing to investors that his company Blue Alpha Energy had invested in oil and gas wells in Texas and that it was owned by Arrowhead Productions, a legitimate but unrelated company in Fort Worth.

Watts pleaded guilty to wire fraud in July 2014 and faced up to 20 years.

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors  in Texas and nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Marc Bercoon & William Goldstein Arrested For Market Manipulation Complaint

January 28, 2015- Atlanta, GA

The FBI announced that Marc E. Bercoon, 54, of Dunwoody, and William A. Goldstein, 51, of Atlanta, have been indicted and arrested on federal charges that they manipulated the market for shares of Medcareers Group, Inc.  (MCGI) a publicly traded company and organized a second business which was a part of the fraud.

According to the U.S. Attorney’s office, they carried out  ‘pump and dump’ schemes from July 2009-September 2011 by issuing misleading press releases and sending out mass emails touting the stock.

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Former PFS Investments Broker David Blasik Sanctioned by Regulator

January 28, 2015- Vandalia, Ohio

David J. Blasik  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he failed to provide documents and information reqeusted by FINRA in connection with an investigation into allegations that Blasik engaged in an unapproved and undisclosed outside business activity.

By failing to respond to FINRA’s request, Blasik violated FINRA Rules 8210 and 2010. Blasik was barred from associating with any FINRA member firm in any capacity. According to FINRA records he was registered with PFS Investments from 4/2006-12/2014.

FINRA Case # 20140437906

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors in Ohio and nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Investigation of Broker Jennifer Trowbridge-Essex Securities, Boynton Beach, FL

January 12, 2015- Boynton Beach, Florida

Jennifer J. Trowbridge  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that she made unsuitable sales and purchases in customer accounts and that she effected discretionary trades in a customer account.

According to the AWC, Trowbridge’s violative conduct includes:

  • Recommending mutual fund switches without having reasonable grounds for believing such transactions were suitable for the customer
  • Effecting discretionary trades, with the customer’s verbal consent, but without obtaining written consent

Trowbridge was suspended by FINRA for two months and fined $10,000.

According to FINRA records, Trowbridge is not currently registered. She  was previously registered as follows:

  • Questar Capital          9/2012-11/2014
  • Essex Securities           1/2010-9/2012
  • Investors Capital          8/2005-12/2009

FINRA Case # 2011025433902

Prior blog post re: :Jennifer Trowbridge. 

If you had an account with Jennifer Trowbridge that suffered losses due to unsuitable mutual fund switching, discretionary trading (trading without your permission) or for other reasons, you may be able to recover damages from the brokerage firm employing Trowbridge. Call to speak with an experienced securities attorney.

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

William Blane of Vero Beach, FL, Pleads Guilty to Securities Fraud

January 29, 2015-Montgomery, Alabama

The Alabama Securities Commission announced that William Chris Blane of Vero Beach, FL, pleaded guilty to four counts of securities fraud in connection with the offer and sale of securities in EyeWonder, Inc. , an Atlanta, GA, company and Poly-Triplex Technologies/Poly Triplex Investors, a Florida based company.

Sentencing is set for February 26, 2015. His brother Martin Blane and Robert Robinson were named as co-defendants and have pled guilty and been sentenced.

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Loren Holzhueter of Watertown, WI, Named by SEC in Ponzi Scheme

January 29, 2015-Wisconsin

Loren W. Holzhueter, 69,  of Watertown was named in a complaint filed by the Securities & Exchange Commission (SEC) alleging that he and his company Insurance Service Center are engaged in a Ponzi scheme. 

The SEC alleges that since 2008 Holzhueter has  raised over $10 million from 120 investors who believed their money was invested but according to the SEC the money has been used to fund his business operations and to make distributions to earlier investors.

A temporary restraining order was entered freezing Holzhueter’s assets.

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Bail Denied for Former Concert Promoter Jack Utsick

January 28, 2015 – Miami, FL

U.S. Magistrate Edwin Torres denied bond for Jack Utsick, 72, deeming the former entertainment mogul and concert promoter to be a flight risk.

Utsick staged music concerts for the Rolling Stones, Santana, Coldplay and other big name acts worldwide from 1998-2005. In November 2007, the SEC filed civil charges against him alleging he operated a ponzi scheme. He fled to Brazil where he attempted to avoid extradition by becoming a citizen but was apprehended and returned to Miami in December 2014. He faces arraignment on seven counts of mail fraud.

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

Current information for investors seeking information on recovery of investment losses due to the negligence or fraud of stockbrokers and brokerage firms. Nationwide representation.