Category Archives: Broker Disclosing Outstanding Liens/Judgments

Investigation of Former National Securities Corp Broker Marshall Isaacson-Boca Raton, FL

April 2017- Boca Raton, FL

The FINRA records of  Marshall O. Isaacson ,  a  stockbroker who formerly was employed by  National Securities Corp.  disclose 2 pending  customer disputes, a prior financial event and 2 currently pending 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 currently pending FINRA Case 16-0627 a customer of National Securities Corp. alleges damages of $300,000 for unsuitable investments and unauthorized trading.

Isaacson discloses discharge from Chapter 7 bankruptcy in 8/2010, US Bankruptcy Court Southern District of Florida.

Isaacson discloses two currently outstanding IRS liens, one in the amount of $24,372 and another for $41,279, County Courthouse Palm Beach County, FL.

Isaacson was employed by National Securities Corp. from 8/2007-7/2016. He is currently employed by Newbridge Securities Corp. 

We are investigating Marshall Isaacson on behalf of an elderly retirees who alleges that their accounts were over-traded and that they were put into high risk, unsuitable, investments.

If you have losses in an account in an account handled by Marshall Isaacson  , contact us to discuss how you may be able to recover damages for those 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

Steven P. Sappington-G.A. Repple Broker-Discloses Financial Events and Customer Dispute-Waco, TX

April 2017-Waco, Texas

The FINRA records of  Steven P. Sappington ,  a  stockbroker who is currently registered with G.A. Repple disclose a  prior customer dispute, 3 pending financial events and 2 prior financial events.

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 a prior customer dispute, FINRA case 11-02721 a customer of G. A. Repple & Co. alleged damages of $100,000 for negligence, unsuitability, breach of contract and fraud in connection with a recommendation to purchase Naples Fund LLC. That case was settled for $61,250.

Sappington discloses the following recent compromises with creditors:

  • DeGrasse & Rolnick- $37,920 debt renegotiated to $24,900.
  • CBNA-$56,767 debt renegotiated to $20,000
  • UCB Collections-$4,993 debt renegotiated to $1,848

Sappington has been employed by G.A. Repple since 1/2003.

If you have questions about an account handled by Steven P. Sappington, call to learn about 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

Jeffrey L. Offen-Craft Capital Management Broker-Discloses Customer Disputes & Judgements-Garden City, NY

April 2017- Garden City, NY

According to publicly available records Jeffrey L. Offen  , (CRD# 2893980) ,  a  stockbroker who is currently registered with Craft Capital Management  discloses:

  • a prior regulatory event
  • 2 prior customer disputes
  • 12 currently outstanding liens/judgments

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 December 2016 Offen was fined $5,000 and suspended for 60 days by FINRA for failing to timely disclose reportable information. FINRA Case 2016048415301.

In FINRA Case 9-5377 a customer of New Castle Financial Services alleged damages of $98,000 for breach of fiduciary duty, fraud and negligence. That case was settled for $60,000 in 1/2011.

The 12 outstanding judgment/liens against Offen include:

  • $4,970 to Sharton T. McLaughlin, MD
  • $17,049 to Daimler Chrysler
  • $58,970 to the Internal Revenue Service
  • $35,621 to the Family Court of the State of New York
  • $6,117 to Salvatore Albanese & Co.

Offen has been employed by Craft Capital Management since 10/2016. His prior employment includes Salomon Whitney Financial, Network 1 Financial Securities, Laidlaw & Company and Obsidian Financial Group. 

If you have questions about an account handled by Jeffrey L. Offen, 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

Gary Edward Morse-Celadon Financial Group Broker-Discloses Bankruptcy Filing-Boca Raton, FL

April 2017- Boca Raton, FL

According to publicly available records Gary Edward Morse  , (CRD# 1793348) ,  a  stockbroker who is currently registered with Celadon Financial Group  discloses a pending   financial event and an outstanding judgment/lien.

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.

Morse discloses the filing of a chapter 7 bankruptcy in June 2016 in the U.S. Bankruptcy Court for the Southern District of Florida.

Morse also discloses an outstanding lien in the amount of $186,760 in favor or the Internal Revenue Service.

Gary Morse’s prior employment includes Livingston Monroe Capital GroupAegis Capital Corp. and Dawson James Securities.

Celadon Financial Group has been a FINRA member since 1994 and is headquartered in Chatham, New Jersey. They have locations in New York City, Washingtonville, New York, Boca Raton, FL, Pompano Beach, FL and Shrewsbury, New Jersey. 

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

James B. Lunsford-Former Mid Atlantic Capital Broker-Discloses Customer Disputes Involving Private Placements-Sonoma, CA

April 2017- Sonoma, CA

According to publicly available records James B. Lunsford , (CRD# 2222307) ,  a  former stockbroker who last worked for Mid Atlantic Capital Corp.  discloses three pending customer disputes, one prior customer dispute and 4 outstanding judgement/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 pending FINRA arbitration 17-0606 a customer of Mid Atlantic Capital Corp. alleges damages of $500,000 in connection with the purchase of a private placement in an IRA account which the customer alleges was speculative and unsuitable. 

In pending FINRA arbitration 16-03515 a customer of Mid Atlantic Capital Corp. alleges damages of $200,000 in connection with the purchase of a private placement.

In pending FINRA arbitration 15-01319 a customer of Mid Atlantic Capital Corp. alleges damages of $450,000, failure to supervise and other claims in connection with the purchase of a limited partnership interest.

Mid Atlantic Capital Corp.  has been a FINRA member since 1982 and is headquartered in Pittsburg, PA. They have about 210 associated persons and 70 branch offices. In FINRA Case 15-0333 they were ordered to pay nearly $1 million to customers in Denver for damages resulting from the purchase of illiquid real estate private placements. See this for details. 

Lunsford was employed by Mid Atlantic Capital Corp. from 5/2004-12/2015.

If you have questions about an account  handled by James B. Lunsford or have losses on alternative investments purchased from Mid Atlantic Capital Corp. , contact us to discuss your legal options.

Alternative investments include non publicly traded real estate investment trusts (REITS) , equipment leasing and oil and gas limited partnerships. These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.

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 A. Basinger-Former VSR Financial Services Broker-Investigation Over Alternative Investments-Alexandria, VA

Alexandria, Virginia

Rex Securities Law is investigating  broker David Alan Basinger  on behalf of a elderly, retired widow from Alexandria who was advised to purchase  limited partnerships, direct investments in oil & gas,  , real estate securities, and other investments which she believes were unsuitable, for her retirement accounts. Basinger was employed by VSR Financial Services during the relevant time period.

The investments include:

  • KBS REIT
  • NET REIT
  • Star Scientific stock

Basinger discloses one prior customer dispute and four outstanding liens to the Internal Revenue Service on his FINRA record.

According to public records, Basinger was employed by VSR Financial Services from 9/2003-6/2014. He is currently employed  by Ameriprise Financial Services.

VSR Financial Services was fined $550,000 by the Financial Industry Regulatory Authority (FINRA) in May 2013 in connection with the sale of alternative investments. In their findings, FINRA criticised VSR Financial for recommending high concentration levels of alternative investments in customer accounts and for its lack of supervision over the use of consolidated reports prepared by brokers and provided to customers.

Alternative investments include non publicly traded real estate investment trusts (REITS) , hedge funds, real estate, commodities and derivatives contracts and, managed futures. It may also include art, wine, antiques, coins or stamps. These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.

Follow this link for additional information related to VSR Financial Service’s issues related to alternative investments.

VSR Financial closed down its operations in the fall of 2016, transferring most brokers and clients to Summit Brokerage Services, an affiliated entity.

If you have losses in an account in an account handled by David A. Basinger or another broker who was employed by VSR Financial Services , contact us to discuss how you may be able to recover damages for those 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

Noel Vincent-Madison Ave. Securities Broker-Discloses Customer Dispute-Houston, TX

March 2017-Houston, Texas

According to publicly available records Noel Ray Vincent, (CRD# 1370987) ,  a  stockbroker who previously worked for Investors Capital Corp and who is currently employed by Madison Avenue Securities  disclose a prior final regulatory matter, a pending customer dispute , 8 prior final customer disputes and an outstanding judgement/lien.

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 currently pending FINRA arbitration 17-0029 a customer of Investors Capital Corp. alleges damages of $500,000 for misrepresentations, breach of fiduciary duty and other claims related to the purchase of alternative investments during the period 2005-2008.

In one of the prior customer disputes, FINRA arbitration 15-0037,  a customer of Investors Capital Corp. alleged damages of $413,000  for unsuitable investments in oil & gas investments and real estate securities made between 2006 and 2009. That matter was settled for $125,000.

Vincent discloses an outstanding lien in favor of the Internal Revenue Service in the amount of $170,000, filed in Harris County, Houston.

Vincent has been employed by Madison Avenue Securities since 11/2009. He was employed by Investors Capital Corp. from 9/2001-11/2009.

Investors Capital Corp., a part of the Cetera Group, wound down its operations during 2016, transferring many of its brokers and customers to Summit Brokerage Services. In November 2016, Investors Capital Corp. withdrew its FINRA registration and closed operations. See this for more information on Investors Capital Corp’s prior regulatory problems. 

If you have questions about an account in an account handled by Noel Ray Vincent, 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