Category Archives: StockBroker Misconduct

Actualmente estamos investigando al corredor de bolsa Cesar Hurtado de Oppenheimer-Miami, FL

Junio de 2017 – Miami, Florida

Estamos investigando al corredor de bolsa Cesar Augusto Hurtado de Oppenheimer & Co., con sede en Miami. Los expedientes de FINRA indican que Hurtado ha estado empleado por Oppenheimer desde 2003. Antes de eso estuvo empleado por CIBC World Markets Corp.

Nuestro cliente es un extranjero residente de Centroamérica que alega daños por malversación de préstamos de margen e inversiones inapropiadas en fideicomisos extranjeros formados en base al asesoramiento de Hurtado.

Si usted tiene información que siente que podría ser útil para esta investigación, por favor comuníquese con nosotros llamando al 561 391 1900.

Rex Securities Law , con oficinas en Boca Raton, Florida, y Austin, Texas, proporciona representación a inversionistas a nivel internacional que están buscando la recuperación de pérdidas de inversiones debido a la negligencia o fraude de corredores de bolsa y agentes de corretaje. Si usted tiene preguntas sobre cómo se ha administrado su cuenta, llame para hablar con un abogado con experiencia en valores de inversión.

La mayoría de los casos son gestionados en base a honorarios de contingencia, lo que significa que usted no paga honorarios de representación jurídica a menos que logremos gestionar su caso con éxito.

Representación a Nivel Internacional

Rex Securities Law

Gratis: 877-224-3199

Florida-561 391 1900

Texas-512-329-2870

Para conversar en español – llame al licenciado José G. Rodríguez, Esq. 561-686-2800

Wells Fargo Securities Fined $3.25M For Supervisory Deficiencies

JUNE 2017

Wells Fargo Securities   entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that they failed to report, or had inaccurately reported over-the-counter options trades between 2008 and March 2017.

Although FINRA’s investigation of this issue in 2008 led to an agreement by Wells Fargo to remedy this deficiency, the firm’s reporting system was never fully developed or implemented due to deficient written supervisory procedures.

AWC 20140403261-01

Wells Fargo Securities was censured, assessed a fine of $3.25 million and agreed to an undertaking requiring the firm to review its supervisory systems and take adequate steps to remedy the deficiencies within 120 days.

If you have questions about an account with Wells Fargo Securities , call to learn about your remedies.

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

Cannabis Penny Stock Promoter James Farinella Named In SEC Fraud Suit

JUNE 2017

The U S Securities and Exchange Commission charged James M. Farinella ,  Integrated Capital Partners (ICP) , Anthony Amado, Equities Awareness Group LLC (EAG) and Carlos Palomino with securities fraud involving the manipulation and artificial inflation of the share price of microcap company Pazoo, Inc., a cannabis penny stock (PZOO).

The SEC alleges that Farinella and ICP controlled the entire public float of stock in Pazoo and that by engaging in matched trading they created the appearance of an active market for Pazoo which boosted its market price. According to the SEC Farinella dumped his Pazoo shares after the price rose, netting him a million dollar gain.

In a parallel action the US Attorney for the District of New Jersey announced criminal charges against Farinella.

Link to SEC Complaint. 

If you have losses on penny stocks recommended to you by your broker, contact us to discuss your legal 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

Christopher D. Sinkula Investigation-Janney Montgomery Scott Broker-Stuart, FL

June 2017-Stuart, Florida

We are investigating Stuart-based Janney Montgomery Scott stockbroker Christopher D. Sinkula. FINRA records indicate that Sinkula has been employed by Janney Montgomery Scott since 8/2008.

Our client is a single lady approaching retirement who alleges damages for  unsuitable investments which she alleges were purchased for her account by Sinkula.

Sinkula’s official broker records disclose that two of his customers brought actions that resulted in cash settlements:

  • In FINRA Case 12-01357 a customer of CItigroup Global Markets, his prior employer, sought damages of $879,680 alleging that Sinkula misrepresented the features of variable annuities that he recommended. That case was settled for $200,000.
  • In NASD Case 97-0761 a customer of A.G. Edwards, his prior employer, sought damages of $67,540 and alleged breach of contract, breach of fiduciary duty, account related negligence and failure to execute. That case was settled for $46,000.

If you have information you feel could be helpful to this investigation, please contact Nan Thompson at 561 391 1900.

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

Trevor M. Carney-Former Axiom Capital Management Broker-Sanctioned by Texas Regulator-Austin, TX

JUNE 2017- Austin, Texas

According to publicly available records Trevor M. Carney (CRD#5657735) ,  a  stockbroker who is employed by  Ascendant Alternative Strategies, discloses a recent regulatory event and two outstanding judgment/liens.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In 6/2017 the Texas State Securities Board (TSSB) reprimanded Carney and assessed a civil and administrative penalty of $7,500 for failure to disclose information required by for U4 in violation of Board rules.

According to the TSSB Disciplinary Order, Carney did not disclose timely disclose two  Internal Revenue Service liens, one for $101,675 and another in the amount of $138,733. Failure to disclose to the TSSB within 30 days is a violation of section 115.9(a)(6) of the Board Rules.

Carney been employed by Ascendant Alternative Strategies since 3/2017. His prior employment includes Axiom Capital Management, KBR Capital Markets and Direct Capital Securities.

If you have questions about an account in an account handled by Trevor M. Carney contact us to discuss your legal 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

Gregg Templeton – Former Oppenheimer & Co. Broker – Discloses $6.75M Customer Dispute – NYC

JUNE 2017- New York, NY

According to publicly available records Gregg D. Templeton (CRD#2412775) ,  a  former stockbroker who was previously registered with Oppenheimer & Co., discloses a prior regulatory event, a currently pending customer dispute, 6 prior customer disputes and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

IN 4/2017, Templeton was permanently barred from the securities industry by FINRA to resolve allegations that he failed to provide documents and information requested by FINRA in the course of an investigation into allegations that he misused customer funds and committed other sales practice violations.

In 7/2016, a customer of Oppenheimer & Co. alleged unauthorized trading and sought damages of $61,475.  The case was settled for $62,475.

In FINRA case #16-00111  a customer of  Oppenheimer sought damages of $220,000 for unsuitable investments, fraud, breach of fiduciary duty and negligent supervision.   The case settled for $562,500.

In currently pending FINRA case 16-02363  a customer of Oppenheimer & Co. alleges fraud and breach of contract and seeks damages of $6,750,000.

Templeton was employed by Oppenheimer & Co. from 1/2007 to 8/2015.   Since that time he was employed briefly by FSC Securities Corporation and Aegis Capital Corp .

If you have questions about an account in an account handled by Gregg D. Templeton contact us to discuss your legal 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

John  J. Gorman IV-Former Tejas Securities Group Broker-Discloses Regulatory Matter-Austin, TX

June 2017- Austin, TX

According to publicly available records     John  J. Gorman IV  (CRD#1070636) ,  a  stockbroker who is currently unregistered disclose a currently pending regulatory matter, 3 prior regulatory events,  2 prior customer disputes, 2 terminations from employment and 2 outstanding judgment/liens.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In 1/2017 Gorman was named in a FINRA complaint alleging that he willfully failed to timely amend his Form U4 to disclose federal tax liens and that he failed to timely respond to FINRA requests for information and documents pertaining to an investigation concerning Gorman’s alleged use of business funds to pay personal expenses. That matter is currently pending.

Gorman discloses a $723,477 (reduced to $291,000)  lien in favor of the IRS filed in Travis County, TX. He also discloses a civil judgment in the amount of $1.6 million in favor of Centennial Bank, filed in Steamboat Springs, Routt County, CO district court.

Gorman’s  prior history as a registered representative includes LPS Partners, Odeon Capital and Tejas Securities Group. 

If you have questions about an account handled by John J. Gorman IV  contact us to discuss your legal 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