Category Archives: OneAmerica Securities

Ronnie W. Shaffer-OneAmerica Securities Broker-Discloses Outstanding Judgements/Liens

July 2016- Tyler, Texas

The FINRA records of Ronnie W. Shaffer  , a stock broker who works for OneAmerica Securitiesdisclose  7 outstanding judgements/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.

 

Shaffer discloses 7 outstanding judgments filed at the Smith County Courthouse in favor of the Internal Revenue Service. The liens range in amounts from $12,280-$125,000.

Shaffer has been employed by OneAmerica Securities since 7/2010. Prior to that he was employed by Park Avenue Securities. 

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

Phil Williamson Charged in South Florida Securities Fraud

June 1, 2015

Phil D. Williamson, 48, of Miami, Florida, was charged with investment advisor fraud according to an FBI Press Release which reports that he raised over two million dollars from 17 individuals who were led to believe he worked for a nationally recognized financial services firm.

Williamson deposited the victims money in bank accounts in the name of two companies he owned, Sterling Investment Fund and Sterling Financial Partners. Investors were led to believe they would be investing in real estate in Florida and Georgia. He concealed the fraud by issuing false statements and in classic Ponzi scheme style, by paying early investors with money received from new investors.

In a parallel action the SEC charged him with securities fraud and other violations. Williamson agreed to settle those charges and is liable for over $700,000 in disgorgement.

The victims include retired teachers and law enforcement officers who sought safe investments for their retirement savings.

According to FINRA records, Williamson previously was registered with the following firms:

  • Hartford Equity Sales Company
  • OneAmerica Securities
  • MML Investor Services
  • AXA Advisors

If you suffered losses in an account handled by Williamson, you may be able to recover damages from the firm that employed him. 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

OneAmerica Securities Investigated for Failing to Supervise Option Trading

February 13, 2015

OneAmerica Securities, Inc.  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that they failed to make reasonable inquiries or otherwise follow-up on multiple red flags that indicated one of their brokers,  Matthew J. Davis, was making unsuitable options recommendations and causing improper transfers of funds to a third party.

Davis was barred from the securities industry as a sanction from a FINRA disciplinary proceeding in an AWC issued in April 2014.

According to this recent AWC with OneAmerica Securities, Davis opened an account for a 65 year old couple with earnings between $50,000-$75,000 and a net worth (not including their residence) of between $250,000-$500,000. The couple indicated they had only two years of prior investment experience.

Davis sold puts and calls in the couple’s account causing the account to lose over half its value in a year.

OneAmerica Securities was censured for failing to supervise Davis and fined $75,000.

FINRA Case # 2013036026902

OneAmerica Securities was formed  in 1969 and is registered in 51 U.S. States and territories. Their main office is located in Indianapolis, Indiana.

OPTION TRADING NOT SUITABLE FOR ALL CUSTOMERS

Option trading can be risky and therefore unsuitable for retirees on fixed income. If you have suffered losses on option trading in your brokerage account, call to speak with an experienced securities attorney.

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

FINRA Bars Stockbroker Matthew J Davis (Murriet, CA)

FINRA announced in August 2014 that stockbroker Matthew John Davis of Murrieta, California, was barred from association with any FINRA member to resolve allegations that he refused to appear for FINRA on-the-record testimony in connection with an investigation that he converted funds from customer accounts, forged account documents, traded without authority, made unsuitable recommendations and tried to settle a customer complaint away from his member firm.

FINRA records indicate that Davis was previously registered as follows:

  • OneAmerica Securities     4/2010-7/2013
  • Beneficial Investment Services    11/2008-4/2010
  • 1st Discount Brokerage      2/2005-11/2008

If you had an account with Davis and believe your account was mishandled, call to discuss your legal options.

Rex Securities Law provides nationwide representation to investors 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