Category Archives: NelsonReid Inc

Warren J Thomas-Former Sandlapper Securities Broker-Discloses Pending Customer Dispute

February 2017-Pasadena, CA

According to publicly available records Warren Jesse Thomas , (CRD# 2299254) ,  a   stockbroker who is currently employed by Lighthouse Capital Group, discloses a pending customer dispute.

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.

Thomas discloses that a customer of his former employer Sandlapper Securities has filed FINRA arbitration 15-03217 alleging damages of $200,000 for losses on an oil and gas investment in Coachman Energy-Bakken Drilling Fund III. The customer alleges breach of fiduciary duty, negligence, fraud and breach of contract.

Thomas has been employed by Lighthouse Capital Group  since 6/2014. His prior employments include Sandlapper Securities, Nelsonreid Inc. and Steven L. Falk & Assoc. 

If you have losses on one of the Coachman Energy Funds or in an account handled by Warren J. Thomas, 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

Former NelsonReid Broker Edward Scro Barred by FINRA

In November 2013, FINRA announced that Edward Francis Scro (CRD #2321985) of Naples, FL, was barred from association with any FINRA member in any capacity. This sanction was based on findings that Scro made unsuitable recommendations to elderly customers who needed stable monthly income and who were unsophisticated investors. The customers were sold risky, illiquid investments, mostly private placements offerings and were told by Scro that the principal would be protected while earning high interest with little risk.

The customers relied on Scro who also recommended unsuitable levels of investments in real estate related products and falsely represented having an MBA degree to customers. Scro faild to provide a requested on-the-record interview with FINRA.
According to FINRA records, Scro was registered with the following broker dealers:
  • NelsonReid Inc. 8/2010-5/2011
  • United Equity Securities 3/2010-8/2010
  • Workman Securities  6/2008-3/2010
If you had an account with Scro that suffered losses due to unsuitable recommendations, you may be able to recover those losses through FINRA arbitration. Call to discuss your legal rights.

Rex Securities Law , located in Boca Raton, FL, 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.

Rex Securities Law

561 391 1900