Category Archives: Stockbroker Discharged

German Mora-Former Merrill Lynch Broker-Discloses Terminations From Employment-San Antonio, TX

April 2017- San Antonio, Texas

The FINRA records of  German Ricardo Mora ,  a  former Merrill Lynch stockbroker who is currently not registered discloses two recent terminations 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 November 2016, German Mora was discharged by Merrill Lynch who made the following comment in connection with the termination of Mora: “Conduct including exercising time and price discretion in client accounts and mismarking trades as unsolicited” .

In January 2017 Mora was discharged by his new employer Wells Fargo Clearing Services who made this comment in connection therewith: “Provided inaccurate information regarding discharge at prior employer. “

German Mora  was employed by Merrill Lynch from 1/2015-12/2016. His industry employment prior to that includes BBVA Securities, CP Capital Securities and UBS Financial.

If you have losses in an account in an account handled by German Mora  , 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

Berthel Fisher & Broker Jeffrey Dragon Named in FINRA Complaint for Overcharging Commissons

April 2017-Burlington, MA

Berthel Fisher & Company and one of their brokers Jeffrey P. Dragon were named in a FINRA complaint alleging that Dragon generated more than $421,000 in concessions for himself and the firm, at the expense of customers, by recommending and effecting a pattern of unsuitable short-term trading of Unit Investment Trusts (UITs).

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.

The FINRA complaint further alleges that by failing to apply sales charge discounts from 2010-2014, more than 2700 customers did not receive applicable sales charge discounts resulting in excessive charges of about $667,000.

Berthel Fisher, which has about 350 brokers in 230 branch offices, was fined over $700,000 by FINRA 3 years ago for various failures in supervision related to sales of real estate investment trusts and leveraged exchange-traded funds from 2008-2012. Follow this link to review their FINRA record. 

Jeffrey Dragon was discharged by Berthel Fisher in 9/2016. The company made the following allegation in connection with his termination: “The firm believes that the representative did not adhere to a term of his heightened supervisions agreement, which required him to run all business, including fixed indexed annuities, through the firm’s commission grid.” Link to Dragon’s FINRA record. 

Investors who suffered losses on purchases of UITs, REITs or other investments in an account at Berthel Fisher may be able to recover damages 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

Michelle D. Drake-Former Rhodes Securities Broker-Discloses Discharge From Employment-Colleyville, TX

April 2017-Colleyville, Texas

The FINRA records of  Michelle Diane Drake ,  a  stockbroker who is currently  registered with   Prospera Financial Services  disclose 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.

 

Drake was discharged by Rhodes Securities 4/28/2015. Rhodes Securities made the following allegations on Drake’s FINRA record in connection with the discharge: “Failed to report a trade to home office when allocation was not received from Chris Anthony at 2:30pm. Failure to adhere to the supervision of (third party’s) heightened supervision, allowing trades to be placed in accounts outside of what the investment objectives stated for the clients account.”

Chris Anthony was discharged by Rhodes Securities on 4/28/2015 also. Anthony is currently named in a $2 million FINRA arbitration. See this for details. 

Drake was employed by Rhodes Securities from 8/2009-4/2015. She is currently registered with Prospera Financial Services in Colleyville, TX.

If you have losses in an account in an account handled by Michelle D. Drake  contact us to discuss how you may be able to recover damages for those losses.

Rhodes Securities is headquartered in Ft. Worth, Texas, and has been a FINRA member since 1987. The company is registered to transact securities business in all fifty states and the District of Columbia.

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 P. Anthony-Former Rhodes Securities Broker-Discloses $2 Million Customer Dispute-Ft. Worth, Texas

April 2017-Arlington, Texas

The FINRA records of  Christopher P. Anthony,  a  stockbroker who is not currently  registered and who was last employed by  Rhodes Securities, Inc.  disclose 2 currently pending customer disputes  and a discharge 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.

Anthony is also affiliated with Great Lakes & Atlantic Wealth Management and Advisory Pnrs and Anthony Capital Management, and Seventh Street Partners. 

In FINRA Case #16-02297, a customer of Rhodes Securities alleges damages of $100,000 for unsuitable investments, churning and failure to supervise in connection with the investment in options, foreign stock and index exchange traded funds (ETFs).

In FINRA Case #17-3753, filed 1/2017, a customer of Rhodes Securities alleges damages of $2 million for breach of fiduciary duty, negligence and breach of contract.

Anthony was discharged by Rhodes Securities 4/28/2015. Rhodes Securities made the following allegations on Anthony’s FINRA record in connection with the discharge: “Failure to adhere to heightened supervision. Trading with discretion and trading outside the investment objectives stated on the client accounts.”

If you have losses in an account in an account handled by Christopher P. Anthony contact us to discuss how you may be able to recover damages for those losses.

Rhodes Securities is headquartered in Ft. Worth, Texas, and has been a FINRA member since 1987. The company is registered to transact securities business in all fifty states and the District of Columbia.

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

Nghi Thanh Ho -IMS Securities Broker-Discloses Customer Dispute- Houston, TX

April 2017 – Houston, TX

According to publicly available records Nghi Thanh Ho,  (CRD#2327672) ,  a  stockbroker who is currently registered with IMS Securities  discloses one pending customer dispute and a separation 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 February 2017,  a customer of IMS Securities filed a claim alleging damages of $175,400 for  misrepresentation by Nghi Thanh Ho in connection with an investment in  variable annuities.  

Nghi Thanh Ho has been employed by IMS Securities since 9/2012. His prior employment includes Next Financial Group, Inc, LPL Financial and Edward Jones. He discloses a business relationship with Royal Oaks Financial Group of Houston, TX. 

In 3/2009 Nghi T. Ho was discharged by LPL Financial who made the following allegation: “Discharged for violating firm policy relating to the borrowing of funds from a client.”

IMS Securities has been a FINRA member since 1994 and is headquartered in Houston, TX. They have about 105 associated persons and 57 branch offices.

If you have questions about an account in an account handled by Hghi Thanh Ho, 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

Lloyd Dotson-Former Commonwealth Financial Network Broker-Sanctioned by Securities Regulator-New Canaan, CT

April 2017- New Canaan, CT

According to publicly available records Lloyd Dotson , (CRD# 2551716) ,  a  former stockbroker who was last employed by Commonwealth Financial Network discloses a prior regulator event, 2 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 April 2017 Lloyd Dotson was permanently barred from the securities industry by FINRA for failing to appear for on the record testimony in connection with an investigation into suspected outside business activities, private securities transactions and the overall circumstances surrounding his termination from Common Financial Network. 

Commonwealth discharged Dotson in June 2016 and made the following allegation on his FINRA public record: “RR was engaged in multiple Outside Business Activities where he used an alias to promote participation in multi-level marketing programs. RR failed to provide prior written notice to or receive written approval from the firm, in violation of FINRA rules 3270.”

Dotson discloses other business affiliations with:

  • HarvestWealth Partners
  • Six Figure MentorsLloyd Dotson.

If you have questions about an account  handled by Lloyd Dotson, 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

Joshua E. Danforth-Kestra Investment Services Broker-Discloses Termination of Employment-Little Rock, AR

April 2017,  Little Rock, AR

According to publicly available records Joshua E. Danforth, (CRD# 4884480 ),  a  stockbroker who is currently registered with Austin, Texas based Kestra Investment Services discloses an employment separation after allegations.   

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.

Danforth was discharged from Merrill Lynch, Pierce, Fenner & Smith, Incorporated in May 2016 who made the following allegation in connection therewith: “conduct including alteration of client documents”.

Danforth has been employed by Kestra since 7/2016. He was employed by Merrill Lynch from 5/2005-6/2016.

If you have losses in an account handled by Joshua E. Danforth, contact us to learn how you may be entitled to recover damages 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