Category Archives: Unregistered Brokers

Mack L. Miller-Former Dawson James Securities Broker-Discloses Separation from Employment-NY

May 2017-New York

The FINRA records of  Mack L. Miller  ,  a  stockbroker who is currently  registered with Spartan Capital Securities  disclose two  prior customer disputes, a separation from employment and 2 currently 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 April 2017 Mack Miller was ‘permitted to resign’ from Dawson James Securities. The company made the following allegation on Miller’s FINRA record: “Rep had called a prospective customer in a state where he was not registered”. 

Mack Miller  has been employed by Spartan Capital Securities  since 4/2017. He was employed by Dawson James Securities  from 5/2016-4/2017 , Lampert Capital Markets from 11/2015-5/2016 and Viewtrade Securities 8/2015-11/2015.

If you have questions about an account  handled by Mack L. Miller  , 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

Old Security Financial Group of Spring, Texas, Fined $100,000 by Securities Regulators

October 2016- Spring, Texas

The Texas State Securities Board (TSSB) sanctioned  Old Security Financial Group, Inc. of Spring, Texas,  fining the company $100,000 for selling unregistered investments in a mortgage note program that was supposedly backed by commercial real estate. The subject investments were First Position Commercial Note Program issued by the Woodbridge Mortgage Investment Fund 3 LLC, which lists offices in California and Florida.

 

The fine was also assessed against owner and president Donald A. MacKenzie and vice president Robert S. Davis, Jr. , both of Pflugerville, Texas. The TSSB ordered that they cease selling interests in the note program until it is properly registered in Texas or sold from an exemption from registration.

According to the TSSB order, neither MacKenzie, Davis, nor Old Security Financial Group was registered to sell securities in Texas.

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

Chazon Stein-Former Primex Stock Broker-Discloses Permanent Bar from Securities Industry-Boca Raton, FL

July 2016-Boca Raton, Florida

The FINRA records of Chazon Stein (also known as Chaz Stein, Chazoni Stein & Zoni Stein) , a  currently unlicensed stockbroker who last worked for  Primex disclose a prior regulatory event and 2 prior 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.

In July 2015 the Florida Office of Financial Regulation found that Chazon Stein offered and sold unregistered securities, engaged in securities  business in Florida without being registered and obtained money by means of fraud and permanently barred Stein from affiliating or seeking future registration as a dealer, investment adviser, or associated person under the Florida Securities and Investor Protection Act, Chapter 517, F.S. In addition Stein was assessed a $40,000 administrative fine.

Chazon Stein was employed by Primex  from 10/2013-1/2014. Prior to that he was employed by Sterne Agee Financial Services and Emmett A. Larkin Company.  

In July 2015, the  FBI announced today the indictment of eight individuals, including Chazon Stein, 36, of Miami Beach, for participating in securities fraud involving Thought Development Inc., a Miami Beach based company claiming invention of a green line on the football field visible, and Virgin Gaming, a fee based service facilitating on line gaming and fantasy sports leagues.

Investors who have questions about how their brokerage account has been handled by Chazon Stein should call to learn how you may be entitled to collect 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

Brian K. Decker Investigation-Legend Securities Broker

FINRA records report that Brian K. Decker, who has been registered with Legend Securities since 9/2009, is named in a 2 currently pending arbitrations:

  • FINRA Case 15-889 by a customer who alleges that Decker engaged in fraud, negligent misrepresentation, breach of fiduciary duty and churning and is seeking damages of $150,000.
  • FINRA Case 15-802 filed by a Florida resident, alleges that Decker was not licensed to sell securities in Florida, made false statements of material fact, engaged in unauthorized transactions, failed to follow instructions, engaged in churning and stock manipulation and improperly used margin borrowing in the account. The customer alleges damages of $150,000.

Brian Decker has been named in nine other customer disputes that have been resolved, including:

  • A July 2015 settlement of $35,000 to a customer alleging failure to supervise and unsuitable investments.
  • FINRA Case 14-2734 alleging violation of Colorado securities and consumer protection laws, negligence and common law fraud, settled for $14,999.
  • FINRA Case 12-1033 alleging breach of fiduciary duty, negligence, churning and fraud settled for $32,500.

Prior to joining Legend Securities, Decker was registered with VFinance Investments 

We are investigating Legend Securities broker Brian Decker and would like to speak with any of his present or prior customers who may have information they believe to be helpful to this investigation.

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

Oklahoma Securities Regulator Orders Houston Based Company to Cease and Desist

March 4, 2016-Oklahoma City, OK

The Oklahoma Department of Securities file an Order to Cease and Desist and Notice of Opportunity for Hearing in the matter of Houston-based ThinAir Wireless, Inc. and Howard “Trip” Wakefield.

The Oklahoma regulator alleges that an Oklahoma resident invested in promissory note offered by Wakefield that ThinAir and that the offering was not registered in compliance with state law. In addition, Wakefield, who was acting as an agent, was not registered in accordance with Oklahoma law. ThinAir Wireless filed for bankruptcy in May 2014.

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

Dallas Financial Adviser Fined for Failure to Register with Texas State Securities Board

February 24, 2016- Dallas, Texas

The Texas State Securities Board (TSSB) has reprimanded and fined Donald Lee Laseter $15,000 for acting as an investment adviser when he was not registered to do so. Laseter does business as Financial Consulting Services of Dallas.

According to the TSSB Order, Laseter has been engaged in the business of advising others with respect to the advisability of investing in, purchasing or selling securities for compensation, from March 1989 through May 2015. Laseter submitted an application for registration with the Texas Securities Commissioner on March 23, 2015. Registration was granted as a part of the TSSB order.

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

Ponca City Oklahoma Resident Named in Regulatory Action

January 20, 2016-Ponca City, Oklahoma

THe U S Commodity Futures Trading Commission (CFTC) filed an enforcement action against Kevin J. Davis charging him with acting as an unregistered commodity pool operator and entered a temporary restraining order prohibiting Davis from acting in any capacity requiring registration with the CFTC. His assets were frozen as well.

According to the CFTC since at least February 2012 Davis solicited $2.7 million for the purpose of trading off-exchange foreign currency contracts.

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