Category Archives: Broker Disclosing Outstanding Liens/Judgments

Ernest Romer III-Former CoreCap Investments Broker-Discloses Customer Disputes/Industry Bar-Sterling Heights, MI

August 2017-Sterling Heights, MI

According to publicly available records Ernest Julius Romer III  (CRD#2311741) ,  a  former stockbroker who was most recently registered with Corecap Investments, Inc.  disclose 5 Regulatory Events, 8 Customer Disputes , 4 Terminations and 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 July of 2017, FINRA permanently barred Romer from acting as a broker or otherwise associating with firms that sell securities to the public. Romer discloses other regulatory sanctions alleging that he failed to disclose federal and state tax liens against him.

In a pending matter brought by Michigan regulators, it is alleged that Romer defrauded a customer by convincing several customers to liquidate securities and entrust Romer with the proceeds, which Romer then deposited in an account which he controlled for his own benefit.

In a matter currently pending in Michigan circuit court a customer of CoreCap Investments seeks damages of $110,000 and alleges that Romer solicited funds from them to invest in a firm owned by him , P&R Capital. The customer alleges that Romer converted the funds to his own use.

In FINRA case 17-01082, a customer of CoreCap Investments seeks damages of $50,000 and alleges that Romer solicited them to invest in “CoreCap Solutions” but converted the money to his own use.

In January 2017, Romer was discharged by CoreCap Investments who made the following allegation on Romer’s FINRA record: “Romer obtained loans from three clients for the stated purpose of starting a business: he was instructed to return the funds and not to engage in the business. To the firm’s knowledge, no funds have been returned as of the date of this filing”.

Romer discloses two tax liens to the State of Michigan and one to the Internal Revenue Service in the amount of $160,634.

ROmer’s prior employment includes L.M. Kohn & Co. and Leonard and Company.

If you have questions about an investment account handled by Ernest Romer, III, contact us 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

Investigation of Capital Financial Services Brokers-Mark & Herminia Sitter-The Woodlands, TX

August 2017- The Woodlands, Texas

We are investigating  Capital Financial Services stockbroker Mark Raymond Sitter of the Woodlands, TXand  his wife Herminia C. Sitter, who until June 2017, was also a  broker with Capital Financial Services TX.

Our investigation is on behalf of an elderly Texas retiree who alleges that they recommended she invest most of her retirement funds into unsuitable real estate investments, including American Realty Hospitality Trust and Cole Office and Industrial REIT.

The FINRA records of Mark Sitter disclose an outstanding lien to the Internal Revenue Service of $83,527. Mark Sitter has been registered with Capital Financial Services since 1/2006. Mark Sitter discloses a business affiliation with Chasewood Wealth Management of the Woodlands, TX.

The FINRA records of Herminia Sitter disclose an outstanding lien to the Internal Revenue Service of $83,527. Herminia Sitter was registered with Capital Financial Services from 9/2005-6/2017.

Capital Financial Services has been a FINRA member since 1981 and is headquartered in Minot, North Dakota.

If you have information you believe may be helpful to this investigation please contact our office.

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

Cesar Rodriguez-Former Avenir Financial Group Broker- Discloses Customer Disputes & Termination- Wheaton, IL

August 2017, Wheaton, IL

According to publicly available records  Cesar Omar Rodriguez (CRD#4451732) , a former stockbroker who was previously registered with Avenir Financial Group, disclose a regulatory event , three prior customer disputes , two terminations from employment 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.

In April of 2015  Rodriquez  was permanently barred from the securities industry by FINRA to resolve allegations that “he defrauded investors by knowingly misrepresenting the true use of investors’ proceeds and improperly misusing investors’ funds for personal expenses unrelated to the operation of his member firm’s branch office…..”

In October of 2015, an  Avenir Financial Group  customer filed a complaint alleging unauthorized trading, breach of fiduciary duty, churning, manipulation, misrepresentation, suitability, negligence, indemnification, recovery of commissions, theft, swindling, and forgery.  Claimant alleged that Rodriguez purchased shares in his account and traded on his margin without permission.  Claimant further alleged that Rodriguez falsified account documents.   In FINRA case 15-02744 the Claimant was awarded the sum of $133,989.04 in compensatory damages, plus interest.   He was also awarded the sum of $22,500 in punitive damages, plus interest.

In April of 2015,  Rodriguez was discharged from Avenir Financial Group .

In November of 2008, Rodriguez was discharged from Charles Morgan Securities, Inc. who alleged that he violated the rules of the industry standards of conduct.

 Rodriguez was with Avenir Financial Group from July of 2013 until he was barred by FINRA in April of  2015.  His prior employment includes American Trust Investment Services, National Securities Corp. and Chicago Investment Group.   Rodriguez also discloses an affiliation with Bull Run Capital Holdings LLC.

If you have questions about an account handled by Cesar O. Rodriguez, contact us 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.

International 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

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

 

Scott D. Offerman-Former Concorde Investment Services Broker-Discloses Termination from Employment/ Liens-New York

June 2017- New York

According to publicly available records Scott David Offerman  (CRD#4619093) ,  a  stockbroker who currently is employed by Sandlapper Securities  discloses a termination from employment and 9 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 4/2017 Scott Offerman was permitted to resign from Concorde Investment Services for “failure to disclose Form U4 reportable liens in a timely manner”.

Offerman discloses tax liens to the Recorder of Deeds in Trenton, NJ, New York, NY and  Albany, NY. He also discloses a tax lien in the amount of $12,649 to the New York Department of Taxation and Finance.

Offerman was employed by Concorde Investment Services 1/2013-4/2017. Prior to that he was employed by Park Avenue Securities.

 

If you have questions about an account handled by Scott D. Offerman , contact us 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

Nicholas Toadvine – Former Investors Capital Corp. Broker- Discloses 12 Prior Final Customer Disputes – Lakeland, FL

May 2017- Lakeland, FL

According to publicly available records Nicholas S. Toadvine, (CRD#3260858) ,  a  stockbroker who  was previously registered with Investors Capital Corp. discloses 12  prior final  customer disputes.

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.

Eleven of the customer disputes were brought by customers of Toadvine’s prior employer Investors Capital Corp. and alleged unsuitable investments.  Those cases include:

  • FINRA case #14-01270- a customer of Investors Capital Corp. alleged damages of  $350,000  in connection with Oil and Gas & Real Estate Securities.   The case was settled for $132,000.
  • FINRA case #14-01392, a customer of Investors Capital Corp. alleged damages of $499,999  in connection with Oil & Gas and Real Estate Securities.    The case was settled for $140,000.
  • FINRA case #12-04257, a customer of Investors Capital Corp. alleged damages of $825,000 in connection with direct investments in limited partnerships and real estate securities.    The case was settled for $230,478.

Nicholas Toadvine was employed with Investors Capital from 6/2002 until 2/ 2012. He is currently employed by Calton & Associates, Inc. His prior employment includes Brookstone Securities, Inc. and Cabot Lodge Securities.  

If you have questions about an account in an account handled by Nicholas Toadvine,  contact us to discuss your legal options.

INVESTORS CAPITAL CORP. SUBJECT OF 21 REGULATORY MATTERS–CEASES OPERATIONS FALL 2016

Investors Capital Corp. withdrew its registration with FINRA in fall 2016. Investors Capital has been named in 21 regulatory matters and a number of customer arbitrations. For more information on Investors Capital Corp, follow this link. 

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