Charles Kilway of North Richland Hills, TX, Sentenced for Securities Fraud

February 19, 2015- North Richland Hills, Texas

The Texas State Securities Board announced that Charles Wayne Kilway was sentenced to 15 years in state prison for the fraudulent sale of securities and 15 years for theft of property from the elderly in the amount of $100,000 or more. In addition he was sentenced to 10 years for violating conditions of a probation from his conviction of an earlier, unrelated, securities fraud.

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

Newbridge Securities Agrees to Pay $850,000 in Inflated Postage Charge Class Action

February 27, 2015- Ft. Lauderdale, FL

The InvestmentNews reports that Newbridge Securities Corp. , which is headquartered in Ft. Lauderdale, Florida, has agreed to pay $850,000 to resolve a class action lawsuit alleging that Newbridge overcharged clients for postage and handling of their securities transactions. The case Remington , et al v Newbridge Securities Corp. , which was pending in U.S. District Court for the Southern District of Florida, includes clients who had accounts with Newbridge from June 2008-January 2013.

In December 2014, Newbridge was fined $138,000 by FINRA for allegedly failing to buy and sell bonds at a fair price for their customers. FINRA Case #2009019877901 .

Newbridge Securities‘ firm summary on the FINRA website, which can be viewed here,  lists 22 regulatory events and 6 arbitrations.

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

Alabama Broker Terry Bagwell Sanctioned by Securities Regulator

UPDATE- April 2016: Bagwell Settles Millions in Customer Claims/ Named in Alabama Securities Commission investigation. See this for more. 

February 26, 2015  – Birmingham, Alabama

Terry Joe Bagwell   entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he was the designated supervisor of a registered representative who sold approximately $8.4 million in unapproved investments that were part of an ongoing Ponzi scheme. In addition, FINRA alleged that Bagwell personally participated in some of the unapproved private transactions.

Bagwell was barred from association with any FINRA member in any principal capacity, fined $25,000 and suspended for 30 days from association with any FINRA member in all capacities.

FINRA Case # 2014041391401

Bagwell who is currently registered with Pruco Securities, was registered with MetLife Securities from 4.2002-10/2011.

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

Jason Kronick-Former Standard Credit Securities Stockbroker-Named In Complaint by Securities Regulator

February 26, 2015 – Woodcliff Lake, New Jersey

The Financial Industry Regulatory Authority (FINRA) Department of Enforcement filed a Complaint against Jason Elliot Kronick alleging that he failed to disclose on his Uniform Application for Securities Registration two unsatisfied judgements totaling $330,574 in violation of FINRA rules.

FINRA records indicate Kronick was registered with Vandham Securities from 12/2012-3/2013. Prior to that he was registered with Standard Credit Securities until he was terminated in May 2012 for “unauthorized trading” .  In June 2011 he was discharged from Securevest Financial Group “after the firm became aware that he was conducting unauthorized trading activities and taking deceptive actions in an effort to conceal his activities” , according to FINRA records.

If you suffered losses in an account handled by Jason Kronick, contact us to learn how you may be able to recover damages from the brokerage firm(s) where he was employed.

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

EDI Financial of Irving, Texas, Sanctioned Over Sale of Private Placements

February 25, 2015

EDI Financial, Inc.   entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that the company failed to adopt and implement supervisory systems and procedures reasonably designed to achieve compliance the firm’s suitability obligations in connection with the sale of private placements.  FINRA alleged that EDI failed to adequately supervise whether sufficient due diligence was conducted on private placements.

In addition FINRA found that EDI Financial failed to supervise adequately mutual fund switches and maintained inaccurate records concerning mutual fund switches and lacked adequate written procedures related to non-branch inspections.

EDI Financial was censured  and fined $100,000.

FINRA Case # 2012032643701

EDI Financial has been a FINRA member since 1986, is headquartered in Irving, Texas, and has 70 brokers in 22 branch offices. If you have losses on private placements or mutual funds in an account at EDI Financial, you may be able to recover damages. Call to discuss your options.

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 J.P. Morgan Securities Broker Barred from Securities Industry

February 23, 2015

Alen Alic  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that in September 2014, while working as a teller for JPMorgan  Chase Bank, an affiliate of J.P. Morgan Securities, he misappropriated $3,000 from the bank by taking cash from his teller drawer and converting it to his personal use.

Alic was barred from associating with any FINRA member in any capacity.

FINRA Case # 2014043420501

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 UnionBanc Investment Services Broker Sanctioned by FINRA

February 23, 2015

Gregory James Bolduc  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that while registered with UnionBanc Investment Services, he falsified the signatures of six customers on a total of 30 Mutual Fund Customer Disclosure and Acknowledgment forms which he submitted as authentic.

Bolduc was suspended for three months and fined $5,000.

FINRA Case # 2013038783201

According to FINRA records Bolduc was registered with UnionBanc Investment Services from 10/2012-10/2013 and with Securities America from 11/2013-11/2014.

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