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 , 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 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 , 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

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 , 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

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 , 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

Marc Bercoon & William Goldstein Arrested For Market Manipulation Complaint- Medcareers Group/ Find.com

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 Medcareers Group.

The indictment also alleges that from May 2009-June 2010, Bercoon and Goldstein carried out a second fraud soliciting money which would purportedly be used to fund the development of an Internet search engine, ‘Find.com”. According to the FBI announcement they used the bulk of the $1.5 million raised for unrelated personal purposes.

If you invested in Medcareers Group or Find.com through a registered stockbroker or broker dealer, you may be entitled to damages. Call to discuss this with an experienced securities attorney.

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

David Blasik-Former PFS Investments Broker -Sanctioned by Regulator

January 28, 2015- Vandalia, Ohio

According to FINRA records, 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 requested 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 , 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

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 , 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