Category Archives: PRUCO Securities

Ronald Dunn-Former Pruco Securities Broker-Indicted for Theft-N Richland Hills, TX

North Richland Hills, Texas

Ronald T. Dunn, a former stockbroker who previously worked for PruCo Securities, was indicted in Tarrant County, TX, for theft of property between $100,000 and $200,000. The victims named in the indictment are 65 years of age or older, making the charge a first-degree felony.

According to publicly available records, Dunn was employed by Pruco Securities from 11/1985-12/2013, when he was discharged for accepting money from a client’s policy and depositing the funds in his personal bank account. Dunn was permanently barred by the Financial Industry Regulatory Authority (FINRA) from acting as a broker or otherwise associating with firms that sell securities to the public.

Several customer complaints are pending against Dunn and he has previously settled three other customer disputes.

If you have questions about an account handled by Ronald T. Dunn, 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

Pamela Posey-Former Securities America Broker-Discloses Bankruptcy Filing

July 2016- Boynton Beach, Florida

The FINRA records of Pamela Posey  , a stock broker who formerly worked for  Securities Americadisclose  a pending financial event and  3 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.

Posey discloses the filing of a chapter 13 bankruptcy petition In the US Bankruptcy Court for the Southern District of Florida in October 2013. According to FINRA records the matter is still pending.

Posey also discloses 3 outstanding judgements/liens to Chateaux Fall Creek,LLC.

Posey was employed by  Securities America from since 8/2014-5/2016. Prior to that she was employed by Pruco 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

Matthew J. Streckenbach-Former Pruco Broker- Discloses Discharge from Employment

Green Bay, WI

According to FINRA records,  Matthew J. Streckenbach ,  a stockbroker  who currently works  for Packerland Brokerage Services ,  discloses  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.

Streckenbach’s  FINRA record reports that he was discharged from Pruco Securities in 4/2016. Pruco made the following allegations in connection with the discharge: “Registered representative submitted several forms to the Company that included non-genuine signatures in connection with several applicant’s life insurance applications.”

Streckenbach was employed at Pruco Securities from 12/2013-4/2016. He has been employed at Packerland Brokerage Services since 4/2016.

If you have questions about an account handled  by Matthew J. Streckenbach  , call for a no charge consultation.

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

Terry Joe Bagwell Investigation Update-Pruco Securities-Birmingham, Alabama

April 6, 2016  – Birmingham, Alabama

FINRA Sanction

In February 2015, Terry Joe Bagwell   entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he was the designated supervisor of a registered representative who sold approximately $8.4 million in unapproved investments that were part of an ongoing Ponzi scheme. In addition, FINRA alleged that Bagwell personally participated in some of the unapproved private transactions.

Bagwell has been permanently  barred from engaging in certain activities.

Alabama Securities Commission Investigation

In November 2015 the Alabama Securities Commission initiated an investigation after receiving reports from Alabama residents who had purchased variable life insurance policies through MetLife/Bagwell who transferred the policies to Pruco and then, upon Bagwell’s recommendation, sold the Pruco policies and invested in a purported “hedge fund”. SC 2015-0023

Customer Disputes

Bagwell has been named in 9 customer disputes that have been resolved. Settlement amounts were as high as $1 million. There are currently 3 cases pending against Bagwell alleging fraud and the sale of unregistered securities.

Bagwell who is not currently registered. He was registered with Pruco Securities from 10/2011-3/2015 and prior to that, was registered with MetLife Securities from 4.2002-10/2011.

If you have losses in an account handled by Terry Joe Bagwell, contact us to learn how you may be able to recover damages from his former employer.

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

Winston Turner-Former MetLife Broker – Barred from Securities Industry-Sarasota, FL

UPDATE AUGUST 2016Winston Turner was permanently barred from the securities industry. According to FINRA records Turner refused to produce significant categories of information requested by FINRA and failed to appear for his scheduled on the record testimony in the Disciplinary Proceeding discussed below.

ORIGINAL POST-February 25, 2016-Sarasota, Florida

The Financial Industry Regulatory Authority (FINRA) filed Disciplinary Proceeding 2013038398401 against former stockbroker Winston Wade Turner accusing him of deceptive sales practices related to the sale of annuities to elderly retired persons.

According to the FINRA complaint,

  • “From late 2012 through July 2015, while registered with MetLife Securities and Pruco Securities, Respondent Winston Wade Turner engaged in a course of deception and other misconduct in connection with sales and exchanges of variable annuities involving numerous customers. Among other things, Turner induced customers to exchange their existing variable annuities and other investments (sometimes incurring large surrender charges) while hiding from his firm the true source of the customers’ funds, thereby circumventing the additional supervisory scrutiny applicable to annuity exchanges. He did so in part by splitting the exchanges into separate sales and purchases and, in most instances, interposing the customer’s bank account. Turner misrepresented the source of the customer’s funds and falsely denied in transaction documentation that the customers had previously held variable annuities or other investments, even though he knew that they were in fact surrendering or liquidating such investments to fund the new variable annuities he was recommending and selling to them.”
  • Turner also used forged customer signatures on variable annuity application materials. lied to his firm’s principals, and put his own email addresses as the email addresses of certain customers on variable annuity documentation to ensure that account notifications would be sent to him instead of the customers.”
  • “In addition to deceiving his firms and circumventing their supervision and documentation requirements, Turner deceived at least three customers by telling them that their annuities would earn a “guaranteed” minimum annual interest when, in fact, the annuities guaranteed only minimum withdrawal or annuitization rates. In one case he paid the customer her expected returns out of his own pocket while disguising the payments to appear as if they were coming from the variable annuity issuer.”

According to FINRA records, Turner was registered with MetLife Securities from 12/2011-7/2013 and with Pruco Securities from 7/2013-2015.

He was discharged by Pruco Securities in 8/2015 with the following allegations reported to FINRA: “registered representative made an unsuitable variable annuity recommendation, provided inaccurate information to the company concerning the transaction, and made payments to a client who was dissatisfied with the performance of her annuity contract”

Turner has  4 currently pending customer disputes.

If you have losses in an account handled by Winston W. Turner, contact us to discuss 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

Former PRUCO Securities Broker Christopher Yoon Barred by FINRA

July 14, 2015

Christopher Yoon  entered into a Letter of Acceptance Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he:

  • lied to a life insurance beneficiary to obtain a signed blank check
  • forged or caused to e forged customer signatures on life insurance application and related documents

According to the AWC, Yoon instructed the life insurance beneficiary to write a check for $55,445.84, but to leave the payee line blank. Yoon told the beneficiary that the check was to pay for a purported penalty associated with paying out the $650,000 death benefit. There was in fact no such penalty.

After discussing the request with others, the beneficiary stopped payment on the check. Yoon ultimately returned the check, but only after lying about why he requested it.

Yoon was barred from associating with any FINRA member in any capacity.

FINRA AWC 2014041304001

According to FINRA records, Yoon was registered with PRUCO Securities in Paramus, New Jersey, from 8/2009-9/2014.

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

Alabama Broker Terry Bagwell Sanctioned by Securities Regulator

UPDATE- April 2016: Bagwell Settles Millions in Customer Claims/ Named in Alabama Securities Commission investigation. See this for more. 

February 26, 2015  – Birmingham, Alabama

Terry Joe Bagwell   entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he was the designated supervisor of a registered representative who sold approximately $8.4 million in unapproved investments that were part of an ongoing Ponzi scheme. In addition, FINRA alleged that Bagwell personally participated in some of the unapproved private transactions.

Bagwell was barred from association with any FINRA member in any principal capacity, fined $25,000 and suspended for 30 days from association with any FINRA member in all capacities.

FINRA Case # 2014041391401

Bagwell who is currently registered with Pruco Securities, was registered with MetLife Securities from 4.2002-10/2011.

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