Black Diamond Energy Partners- Options for Recovery of Investment Losses

 

Black Diamond Energy was once one of the fastest growing private companies in the Pittsburgh region operating natural gas wells, primarily in Wyoming. While natural gas prices were over $10 /MCF a few years ago, coal bed methane extraction was a financially viable business model.
The drop in the price of the commodity to the $4 range made the process uneconomical and resulted in pressure from lenders, the shutting in of hundreds of wells and cessation of distributions.
Investors who lost money on the Black Diamond Energy partnerships may be able to recover losses through FINRA arbitration. If you would like to learn your legal options for losses on  oil and gas investments including the following, please contact us:
  • Black Diamond Energy 2005-A
  • Black Diamond Energy 2005-B
  • Black Diamond Energy 2006-A
  • Black Diamond Energy 2006-B
  • Black Diamond Energy 2007-A
  • Black Diamond Energy 2007-B
  • Black Diamond Energy 2008-A
  • Black Diamond Energy 2008-B

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

 

Texas Securities Regulators Hearing Vs. Kirk Johnson & Balanced Energy, LLC of Southlake, TX

The Texas State Securities Board (TSSB) announce May 28, 2014, that a hearing has been set for June 26th, 2014 for the purpose of determining whether to affirm, modify or set aside an Emergency Cease and Desist Order issued in March 2014.

TSSB ordered Kirk Johnson and Balanced Energy of Southlake, Texas,  to cease and desist offering for sale any security in Texas until registered under the Texas Securities Act, from engaging in any fraud in connection with the offer for sale of any security in Texas and from offering securities through an offer containing a statement that is materially misleading or otherwise likely to deceive the public.
Here is a link to the TSSB notice.
Balanced Energy claimed to be the first company in the oil and gas exploration and production industry to accept Bitcoin as payment for its prospects. See link to earlier post.
Contact us to discuss your legal rights to pursue your stock broker or brokerage firm for investment losses.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

TSSB Sets Hearing to Revoke Securities Registration of Corpus Christi Advisor Kenneth Graves

UPDATE JUNE 2014: TSSB revokes license of Kenneth Graves and Warren Financial Services.

On May 19, 2014, the Texas State Securities Board (TSSB) set a hearing for July 9th, 2014, to revoke the securities registration of Corpus Christi, TX, financial advisor Kenneth Wayne Graves and his company, Warren Financial Services.
According to the Notice of Hearing, Graves made unsuitable investment recommendations, unauthorized withdrawals of client funds and made misrepresentations to the TSSB staff investigators.
The TSSB Notice of Hearing can be viewed here.
FINRA records indicate that Graves was registered with First Command Financial Planning from 8/2008-10/2010.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Fort Myers Ameriprise Broker Sanctioned for Sale of REITs

 

 Michael Anthony Hainsworth , formerly a broker with Ameriprise Financial (6/2009-5/2012) in North Fort Myers, Florida submitted a Letter of Acceptance, Waiver and Consent in which he was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in any capacity for 30 business days. Without admitting or denying the findings, Hainsworth consented to the sanctions and to the entry of findings that he sent emails regarding a non-exchange-traded real estate investment trust (REIT) to potential investors that were misleading, not fair and balanced, and failed to provide a sound basis for evaluating the facts presented. The findings stated that based upon communications with Hainsworth, the investors invested funds totaling $322,167 in the REIT.

The suspension is in effect  from April 7, 2014, through May 19, 2014. (FINRA Case #2011027170902 )

Hainsworth previously was registered with Securities America 7/2009-9/2011. As of May 2014, FINRA records indicate that Hainsworth is not currently registered. 

If you have losses on non exchange traded REITs (real estate investment trusts) and believe that you were misled in connection with the purchase of the investments , call to find out how to recover losses through FINRA arbitration. 

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Former LPL Financial Broker Reniero Francisco Barred and Sanctioned $14 Million

 Reniero Castillo Francisco , formerly a broker with LPL Financial in Newport Coast, California submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Francisco consented to the sanction and to the entry of findings that he failed to provide FINRA with requested information and documents and failed to appear for an on-the-record interview. The findings stated that Francisco’s failure to cooperate impeded FINRA’s investigation. (FINRA Case #2012032452701)

Francisco was registered with LPL Financial 7/2002-11/2010.

According to FINRA records, Francisco and a co-defendant were named in an enforcement action by the U.S. Commodity Futures Trading Commission which charged that they defrauded investors in connection with operating a commodity pool to trade commodity futures contracts and options, made false statements and misappropriated pool funds. In a parallel criminal action Franciso and his co-defendant pled guilty to conspiracy and fraud leading to  sentences of 151 months and 97 months respectively. In addition they were order to pay a fine of nearly $6 million and restitution of over $8 million. 

If you have questions about your brokerage account or wish to discuss how to recover investment losses, 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

 

 

Ameriprise Broker Jeffrey Davis Barred By FINRA for Converting Customer Funds

 

 Jeffrey Scott Davis , a former broker with Ameriprise Financial Services, in Virginia Beach, Virginia submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA (Financial Industry Regulatory Authority)  member in any capacity. Without admitting or denying the findings, Davis consented to the sanction and to the entry of findings that he converted $116,976.69 from the brokerage accounts of member firm customers for his personal use and benefit. The findings stated that Davis effected 71 unauthorized electronic automated clearing house (ACH) payments and directed those funds to his personal credit card accounts. None of the customers permitted Davis to transfer or otherwise use their funds for any purpose. (FINRA Case #2013037743101)

 

According to FINRA records, Davis was discharged by Ameriprise in July 2013 with the following entry on his CRD:

“Registered representative was suspended on June 26, 2013 and terminated on July 19, 2013 after the firm concluded client funds were misappropriated via ACH transfer to pay personal credit cards held in the name of the advisor”

Davis was previously registered as follows:

Ameriprise Financial Services  9/2000-7/2013

IDS Life Insurance Company 9/2000-7/2006

Waddell & Reed, Inc.  7/1998-7/2000

If you have questions about transactions in your brokerage account or would like to know more about the process of recovering losses on investments, 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

Buston, Maine- Ameriprise Financial Broker Lisa Brislin Sanctioned by FINRA

 

Lisa Ann Brislin of  Buston, Maine submitted a Letter of Acceptance, Waiver  and Consent in which she was fined $7,500 and suspended from association with any  FINRA (Financial Industry Regulatory Authority)  member in any capacity for 30 days. Without admitting or denying the findings,  Brislin consented to the sanctions and to the entry of findings that she provided false  information on her member firm’s internal system on three occasions by stating that she  verbally confirmed check disbursement instructions with a customer when she never spoke  with the customer. By doing so, Brislin caused the firm to create and maintain inaccurate  books and records. The findings stated that Brislin had effected check disbursements  totaling $44,600 from a firm customer’s account to an unrelated third-party account after  receiving fraudulent emails from someone purporting to be the customer. A firm registered  representative forwarded Brislin an email from what appeared to be a customer’s email  account on file, but the email was sent by an imposter who hacked the customer’s email  account and was fraudulently transferring money to accounts the imposter controlled.  Brislin failed to verbally confirm the transfers as the firm’s policies and procedures required.  A financial adviser contacted the customer and learned that the customer never requested  any check disbursements from the account. The firm restored the $44,600 in funds that  were improperly disbursed from the customer’s account.
The suspension was in effect from April 7, 2014, through May 6, 2014. (FINRA Case #2012034294501)
According to FINRA records, Brislin is currently registered with Ameriprise Financial Services. She was previously registered as follows:
  • UBS Financial 2/2007-10/2013
  • McDonald Investments 11/2001-2/2007
  • Prudential Securities 2/2001-11/2001
If you have questions about the way your brokerage account is being handled or wish to discuss recovery of investment losses through FINRA arbitration, call to discuss your legal rights.

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors  in Maine 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