Category Archives: Maxim Group LLC

Tyre F. Newsome-Cape Securities Broker-Discloses Termination and Outstanding IRS Lien

March 2017-New York

According to publicly available records Tyre F. Newsome , (CRD# 4812894) ,  a   stockbroker who is  currently registered with Cape Securities , disclose  a prior customer dispute, an outstanding judgment lien 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.

Public records reveal that in April 2016, Tyre Newsome was ‘permitted to resign’ by his employer Garden State Securities who alleged that Newsome made unsuitable recommendation to a senior investor and made an inappropriate recommendation to utilize margin.

Newsome discloses that there is an outstanding judgement or lien against him for $32,094 in favor of the Internal Revenue Service.

Newsome  is currently employed by Cape Securities. His prior employment includes:

  • Cape Securities
  • Spartan Capital Securities
  • Garden State Securities
  • Meyers Associates
  • Caldwell International Securities
  • Maximum Financial Investment Group
  • Avalon Partners
  • Great Eastern Securities
  • Maxim Group

If you have losses  in an account handled by Tyre Newsome, 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

Rodney B. Ibrahim-Former Maxim Group Stock Broker-Discloses Discharge from Employment

August  2016-NewYork

The FINRA records of Rodney B. Ibrahim ,  a  stock broker who is currently  employed  by Aegis Capital Corp.  , disclose a separation from employment 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.

Ibrahim discloses that he was discharged from Maxim Group, LLC in June 2015. Maxim Group made the following allegations in connection with the discharge: “Terminated for misrepresenting a corroborative communication with a client after the receipt of electronic instructions requesting an outgoing wire.”

 

Ibrahim has been employed by Aegis Capital Corp. since 7/2015.

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 R. Luftschein-Aegis Capital Broker-Discloses $2M Customer Dispute

July 2016-Melville, New York

The FINRA records of Steven R. Luftschein ,  a  stock broker currently employed  by Aegis Capital Corp. , disclose a pending customer dispute and 11 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.

In the currently pending dispute, received in June 2016 , a customer of Aegis Capital  alleges damages of $2,000,000  for unsuitable investment recommendations and mishandling of their account from June 2013-January 2016.

The prior customer disputes include:

  • FINRA Case 10-03873 in which a customer of Luftschein’s prior employer, GunnAllen Financial, alleged damages of $1,000,000 for failure to supervise. That case was settled for $275,000.
  • NASD Case 06-3161 in which a customer of Luftschein’s prior employers Investec Ernst and Maxim Group alleged damages of $392,387 for excessive and unauthorized trading in unsuitable securities and use of margin without authorization. That case was settled for $77,500.

Luftschein has been employed by Aegis Capital since  6/2013. Prior to that he was employed by John Thomas Financial (expelled by FINRA 10/2013) and before that Rockwell Global Capital.

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

Daniel J. O’Neill-Aegis Capital Broker-Discloses Pending Customer Dispute and Outstanding Liens

July 2016-Melville, New York

The FINRA records of Daniel J. O’Neill ,  a  stock broker currently employed  by Aegis Capital Corp. , disclose a pending customer dispute, a prior final financial event and 3 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 the currently pending matter received by the company in February  2016, a customer of Aegis Capital  alleges unspecified damages for unauthorized trades and misuse of margin from May 2013-June 2015.

O’Neill discloses a discharge from Chapter 7 bankruptcy in 10/2009.

O’Neill discloses the following outstanding judgment/liens:

  • $30,000 in favor of Ladenburg Thalmann & Co. filed in Supreme Court of New York, Suffolk County.
  • $56,151 in favor of the Internal Revenue Service filed in Suffolk County, NY.
  • $7,414  tax lien in  favor of the State of New York filed in Suffolk County.

O’Neill has been employed by Aegis Capital since 4/2013. He was with Ladenburg Thalmann from 3/2011-5/2013 and Maxim Group from  8/2007-4/2011.

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 Kazan Discharged From Maxim Group After Customer Alleges Unsuitable Trading-S. Norwalk, CT

May 2016-South Norwalk, CT

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.

According to FINRA records,   Maxim Group stockbroker Christopher Kazan discloses that he was discharged by Maxim Group 9/24/2015 with the following allegation: “Terminated due to allegations made by a customer regarding unsuitable transactions”

According to FINRA records, Christopher Kazan was registered with Maxim Group from 10/2002-10/2015. Kazan is currently registered with National Securities Corporation

If you have questions about an account handled by Christopher Kazan  contact us to discuss your options and to learn how you 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

Losses on Cushing Royalty & Income Fund ??

June 15,2015,

Cushing & Royalty Income Fund (SRF) which traded at $25 in February 2012 currently trades at less than $5. It is a leveraged fund which invests in oil and gas royalty trusts that was sold in some cases to elderly and conservative retirees who did not understand the risky nature of this investment.

Cushing & Royalty Income Fund was underwritten by these broker-dealers:

  • Stifel, Nicolaus & Company
  • RBC Capital Markets
  • Oppenheimer & Co.
  • Robert W. Baird & Co.
  • BB&T Capital Markets, a division of Scott & Stringfellow
  • Ladenburg Thalmann & Co.
  • Wunderlich Securities
  • Maxim Group

Aside from the risky nature of this investment, the fees and commissions associated with its sale exceeded 6% in some instances.

If you were sold the Cushing Royalty and Income Fund by your stockbroker, call to speak with an experienced securities attorney and learn how you 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