Category Archives: Theft

Jill Cody (Tramontano)-Former Concorde Investment Services Broker-Barred From Securities Industry-Spring Lake, NJ

According to publicly available records Jill M. Cody , (CRD# 4333419) ,  a  former stockbroker who last worked for Concorde Investment Services  , has numerous disclosures: 

  • 1 prior regulatory events
  • 7 currently pending customer disputes
  • 1 currently pending regulatory investigation

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 2/2017 Jill Cody (aka Jill Tramontano)  was permanently barred from the securities industry by FINRA to resolve allegations that she permitted Richard Cody, to whom she was then married, and who had been suspended by FINRA to engage in the securities business while suspended.

Currently pending customer disputes include:

  • 3/2017-A customer of Westminster Financial Securities & Concorde Investments  seeks damages in an unstated amount and alleges that funds were taken by Cody.
  • 3/2017-A customer of Merrill Lynch, Park Avenue Securities, Columbia Management, Westminster Financial Securities and Concorde Investment Services seeks damages in an unstated amount and alleges that Cody misappropriated funds and forged documents.

For information on Jill Cody’s former husband, Richard Cody, follow this link. Cody discloses a business affiliation with Boston Investment Partners.

We are interested in speaking with former customers of Jill Cody (aka Jill Tramontano ) and Richard G. Cody. 

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

Lawrence A. DeShetler-Pleads Guilty to Mail Fraud-Beaumont, TX

June 2017-Beaumont, Texas

Lawrence A. DeShetler, a certified financial planner from the the Woodlands, Texas, pleaded guilty mail fraud according to a release from the Department of Justice for the Eastern District of Texas.

According to the Texas State Securities Board, DeShetler fraudulently obtained $1.9 million from five of his advisory business clients who were convinced to withdraw money from their investments and give it to DeShetler who promised them higher returns.

One client was convinced to liquidate her IRA of over $700,000 and transfer the funds to DeShetler who spent the money on restaurant bills, country club fees, clothing and other personal expenses.

DeShetler was arrested in August 2016. He faces up to 20 years in federal prison.

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 NEXT Financial Group Brokers Alleged to Have Converted Customer Funds-West Palm Beach, FL

May 2017-West Palm Beach, FL

In connection with a currently pending lawsuit, we are investigating thefts from customer accounts by brokers who were affiliated with NEXT Financial Group, a FINRA registered broker dealer headquartered in Houston, Texas.

Publicly available records disclose that the following four former brokers employed by NEXT Financial  have allegedly converted customer funds:

  • Tye Williams-Frisco, TX . See this for more details.
  • Eduardo Diaz-Ocean Springs, MS. In June 2016, Diaz, who pleaded to wire fraud,  was sentenced to 70 months, fined $15,000 and ordered to pay restitution of over $640,000 to his victims which include a 70 year old widow. See this for more detail. 
  • James McGilvrey-San Antonio, TX-Charged with Theft from The Elderly, sentenced to 20 years in state prison, fined $10,000 and ordered to pay over $1.9 million in restitution. See this for more detail.
  • Douglas P. Simanski-Altoona, PA-In June 2016, Simanski, without admitting or denying the findings, consented to a permanent bar from the securities industry and entry of findings that he failed to provide documents and information related to an investigation into allegations related to the conversion of funds. FINRA Case 2016049621301.

Gwendolyn M. Berry , of Dallas, TX, was associated with NEXT Financial group from 2009-2015 as a non-registered fingerprint person working as a non-registered assistant and bookkeeper for a Series & General Securities Representative and Series 24 General Securities Principal. After initiating an investigation into Berry regarding possible misappropriation and mismanagement of customer assets, FINRA repeatedly requested that Berry produce documents and information. Berry failed to produce the documents and information and was barred from association with any FINRA regulated broker-dealer in any capacity in April 2016. FINRA AWC No. 2015047059701.  

If you have information you believe would be helpful to our investigation please contact us.

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

Darren McFadden-Cowboy Running Back- Files Lawsuit Against Ameriprise Financial

May 2017- Dallas, TX

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

Nemelee Liwanag Jiao Indicted for Fraud-Philippine School Ponzi Scheme-Dallas, TX

April 2017-Dallas, TX

Nemelee Liwanag Jiao, 47, of Irving, Texas, was indicted on two counts of wire fraud for operating a Ponzi scheme that bilked 35 people out of at least $1 Million , according to a press release from the US Attorney’s Office for the Northern District of Texas. 

The indictment alleges that from 2/2009-3/2016, Jioa convinced individuals to invest in promissory notes purportedly issued by Shepherd’s Light Learning Center and Lord of Peace Learning Center, non-profit schools in the Philippines. Investors were promised returns ranging from 10% to 100% on their investment.

The indictment alleges Jioa used the funds for personal expenses, including a country club membership.

The statutory penalty for wire fraud is 20 years and a $250,000 fine.

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

Allan George Cooper Guilty of Investment Fraud-Houston, Texas

May 20-17-Houston, Texas

The US Attorney’s Office for the Southern District of Texas advises that Allan George Cooper, 76, of Montgomery, TX, was convicted on two counts related to an investment fraud scheme using his companies Effective Energy Alternatives dba A.G. Cooper Associates and Effective Funding Network.

Cooper, who preyed upon his church group and others, presented himself as an investment advisor and raised about $5 million from unsuspecting victims who thought they were investing in short term loans to companies.

Cooper touted 12% returns. In reality most of the funds were used to pay back earlier investors, a classic Ponzi Scheme, and to fund his own lifestyle.

Cooper faces up to 20 years on each count plus a maximum fine of $250,000.

Link to government press release. 

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

SEC Shuts Down LottoNet Boiler Room-Pompano Beach, FL

March 2017

The U.S. Securities and Exchange Commission announced the filing of a complaint against Florida based LottoNet Operating Corp. , its CEO David Gray and Joseph A. Vitale, a sales agent for the company.

The SEC alleges that they misrepresented to investors how their money was to be used. According to the SEC about 35% of the money raised was paid to boiler room sales agents and LottoNet allegedly siphoned investor funds for personal spending on clothes, a wedding and strip clubs.

Investors were touted $8,500 monthly returns for a $25,000 investment. About $4.8 million was raised.

The SEC says that Vitale raised about $1.4 million from investors using the alias Donovan Kelly in an apparent attempt to conceal the fact that he had been permanently barred by FINRA. According to his FINRA record Vitale was permanently barred by FINRA in 10/2011. Vitale was last employed in the industry by J.P. Turner & Co. 

Link to SEC complaint.

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

Investment Loss Recovery-Information on recovery of investment losses due to the negligence or fraud of stockbrokers. Nationwide representation.