Category Archives: Obsidian Financial

Jeffrey L. Offen-Craft Capital Management Broker-Discloses Customer Disputes & Judgements-Garden City, NY

April 2017- Garden City, NY

According to publicly available records Jeffrey L. Offen  , (CRD# 2893980) ,  a  stockbroker who is currently registered with Craft Capital Management  discloses:

  • a prior regulatory event
  • 2 prior customer disputes
  • 12 currently outstanding liens/judgments

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 December 2016 Offen was fined $5,000 and suspended for 60 days by FINRA for failing to timely disclose reportable information. FINRA Case 2016048415301.

In FINRA Case 9-5377 a customer of New Castle Financial Services alleged damages of $98,000 for breach of fiduciary duty, fraud and negligence. That case was settled for $60,000 in 1/2011.

The 12 outstanding judgment/liens against Offen include:

  • $4,970 to Sharton T. McLaughlin, MD
  • $17,049 to Daimler Chrysler
  • $58,970 to the Internal Revenue Service
  • $35,621 to the Family Court of the State of New York
  • $6,117 to Salvatore Albanese & Co.

Offen has been employed by Craft Capital Management since 10/2016. His prior employment includes Salomon Whitney Financial, Network 1 Financial Securities, Laidlaw & Company and Obsidian Financial Group. 

If you have questions about an account handled by Jeffrey L. Offen, 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

Bruce A. Stark-Aegis Capital Broker-Discloses Pending Customer Complaint for Churning

July 2016-Melville, New York

The FINRA records of Bruce A. Stark ,  a  stock broker currently employed  by Aegis Capital Corp. , disclose 2 pending customer disputes, a prior final customer dispute and 1 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 one of the currently pending disputes, FINRA Case# 15-1478 , a customer of Stark’s former employer Obsidian Financial Group  alleges damages of $534,1508 for churning, excessive trading, unauthorized trading and unsuitable investments.

Stark discloses a notice of levy from  the Internal Revenue Service in the amount of $37,875, for the tax period ended 12/31/2006.

Stark has been employed by Aegis Capital Corp. since  11/2012. Prior to that he was employed by Obsidian Financial Group (expelled by FINRA 10/2013) and before that EKN Financial Services (expelled by FINRA 10/2012.

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

Naveed “Nick” Khan -Former Meyers Associates Broker- Indicted on Fraud Charges

UPDATE APRIL 2017

In March 2017, Naveed A. Khan was permanently barred by the SEC.

ORIGINAL POST -May 2016-Staten Island

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,  Naveed A. Khan discloses:

  • A  pending criminal charge for Conspiracy to Commit Securities Fraud, Securities Fraud, Money Laundering Conspiracy and Conspiracy to Commit Wire Fraud. See this release dated May 3, 2016 from the US Attorney’s office for Eastern District of New York.
  • 1 pending civil event-See this SEC Litigation Release announcing fraud charges against Khan.
  • Two prior settled customer complaints including FINRA Case 11-0192 brought by a customer while Khan was registered with Meyers Associates. That customer alleged damages of $200,000 for churning, improper use of margin and unsuitable investments. The case was settled for $75,000.

According to FINRA records, Khan  was  registered with Meyers Associates from 4/2013-5/2016. Prior to that he was registered with Obsidian Financial 1/2011-6/2013.

If you have questions about an account handled byNaveed A. Khan also known as “Nick Khan”  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

Dawson James Broker James Bernthal Named in Two Customer Arbitrations

May 2016

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,  James R. Bernthal has been registered with Dawson James Securities since 4/2016. Prior to that he was registered with Network 1 Financial Securities from 1`2/2012-4/2016.  Prior to that he was registered with Obsidian Financial (expelled from industry by FINRA 10/2013) and prior to that he was registered with QA3 Financial Corp.

FINRA records disclose that there are currently two customer disputes pending against  James R. Bernthal.

  • FINRA Case 15-3181- A customer alleges  unsuitable transactions, unauthorized trading and failure to supervise. Damages are alleged to be $137,000.
  • FINRA Case 15-1467- A customer alleges unsuitable transactions, breach of contract, fraud and churning. Damages are alleged to be $250,000.

If you have losses in an account handled by James Bernthal , contact us 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

Wesley Clinton Named in Two Customer Arbitrations-Network 1 Financial Securities

May 2016

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,  Wesley O. Clinton has been registered with Network 1 Financial Securities since 12/2012. Prior to that he was registered with Obsidian Financial (expelled from industry by FINRA 10/2013) and prior to that he was registered with QA3 Financial Corp.

FINRA records disclose that there are currently two customer disputes pending against Wesley Clinton.

  • FINRA Case 15-3181- A customer alleges  unsuitable transactions, unauthorized trading and failure to supervise. Damages are alleged to be $137,000.
  • FINRA Case 15-1467- A customer alleges unsuitable transactions, breach of contract, fraud and churning. Damages are alleged to be $250,000.

If you have losses in an account handled by Wesley Clinton , contact us 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

Steve Sabi Named in Customer Dispute-Network 1 Financial Securities

May 2016-Great Neck, NY

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,  Shahriar “Steve” Sabi has been registered with Network 1 Financial Securities since 6/2013. Prior to that he was registered with Obsidian Financial (expelled from industry by FINRA 10/2013) and prior to that he was registered with J.P. Turner & Company.

FINRA records disclose that there is currently pending a customer dispute alleging that there has been poor communication with the broker and that there have been transactions in the customer’s account that were made without his knowledge or permission. Damages are alleged to be $97,000.

If you have losses in an account handled by Shahriar “Steve”  Sabi , contact us 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

Jeffrey Offen-Salomon Whitney Broker-Discloses Outstanding Judgments on FINRA Records

April 2016- Farmingdale, New York

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.

FINRA records are public and can be accessed on the BrokerCheck website. 

The FINRA records of Jeffrey L. Offen  disclose that he has 6 unsatisfied and outstanding judgments or liens against him, including 3 to the New York State Department of Taxation and Finance. Two setted customer disputes are reported.

Offen has been registered with Salomon Whitney Financial  since 12/2015.  He was previously registered with Network 1 Financial Securities from 5/2015-12/2015. Prior to that he was registered with Laidlaw & Company from 11/2012-5/2015 and before that he was registered with Obsidian Financial Group.

If you have losses in an account handled by Jeffrey L. Offen , and believe that your account was mishandled, 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