Category Archives: Salomon Whitney Financial

Thomas J. Tedeschi-Former Joseph Stone Capital Broker-Discloses Regulatory Suspension

October 2016-Farmingdale, NY

The FINRA records of  Thomas J. Tedeschi,  a  stockbroker who is currently employed by  Salomon Whitney Financial  disclose 5 prior customer disputes that are final and one recently resolved regulatory matter.

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.

The prior customer disputes include a complaint filed in 2015 by a customer of Tedeschi’s prior employer Aegis Capital Corp. who alleged damages of $117,102 for unauthorized purchases between 10/2013-12/2013. That case was settled for $60,000.

In September 2016, FINRA suspended Tedeschi for six days to resolve allegations that Tedeschi failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to FINRA request to provide information concerning the status of compliance. FINRA Case# 15-0563. 

Tedeschi has been registered with Salomon Whitney Financial since 8/2016. Prior to that he was registered with Joseph Stone Capital from 8/2014-8/2016.

If you have losses in an account in an account handled by Thomas J. Tedeschi , contact us to discuss how you may be able to recover damages for those losses.

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

Emil Botvinnik-Salomon Whitney Broker-Discloses Customer Disputes

UPDATED APRIL 2017Botvinnik discloses the settlement FINRA Case 16-3284 filed by a customer of Salomon Whitney Financial alleging damages of$50,000 for unsuitable and high frequency trades, highly leveraged account and not minimizing risk. In February 2017 the case was settled for $30,000.

Original Post—July 2016

The FINRA records of Emil Botvinnik  , a stockbroker who is currently employed by  Salomon Whitney Financial  disclose 4 prior customer disputes , a pending customer dispute 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.

In July 2014 a customer of Meyer Associates alleged damages of $385,000 for excessive commissions. That matter was settled for $385,000 with Botvinnik contributing $192,500 toward the settlement.

In currently pending FINRA Case#16-01051 a customer of Meyers Associates alleges damages of $99,000 for suitability and churning.

Botvinnik has been  employed by   Salomon Whitney Financial since 11/2015.  Prior to that he was with Newport Coast Securities from 11/2014-11/2015 and before that with Meyers Associates 6/2012-11/2014.

In 9/2009 Botvinnik was permitted to resign from Liberty Partners Financial Services who alleged unauthorized trades and use of discretion over a client.

Investors who suffered losses in an account handled by Emil Botvinnik may be entitled 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

Douglas A. Leone-Former Newport Coast Securities Broker-Discloses Regulatory Investigation for Churning

July 2016-Farmingdale, NY

The FINRA records of Douglas A. Leone  , a stock broker currently employed by  Salomon Whitney Financial  disclose a pending regulatory event and 7 prior 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.

Leone’s FINRA disclosure reports that he is named in a FINRA complaint alleging that he, with his then member firm Newport Coast Securities and other firm representatives excessively traded and churned customer accounts. FINRA alleges that Leone engaged in a deceptive and manipulative scheme by churning the accounts of customers and acted with the intent to defraud customer’s interests by seeking to maximize his own remuneration. FINRA Case# 2012030564701.

Five of the prior customer disputes were settled with payments of monetary compensation, including FINRA Case 12-0995 in which a Newport Coast Securities customer alleged damages of $145,000 for breach of fiduciary duty, negligence and breach of contract. The case was settled for $70,000.

Leone has been employed by Salomon Whitney Financial since 3/2013. He was employed by Newport Coast Securities  from 10/2008-3/2013.

Investors who suffered losses in an account handled by Douglas A. Leonemay be entitled 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

Yousuf Saljooki Named In $750K Customer Complaint Alleging High Pressure Sales Techniques

Farmingdale, New York

APRIL 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.

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

The FINRA records of Yousuf Saljooki  disclose  2 final customer disputes and 1 pending customer disputes .

In  the pending case, FINRA Case 16-00405, a customer of Saljooki while he was previously employed by New Castle Financial Services ,now known as Brookville Capital Partners, and Legend Securities alleges that Saljooki used high pressure sales techniques, made unsuitable investments, churned the account and charged excessive and hidden commissions. Damages, which include punitive and exemplary damages exceed $750,000 are alleged.

Saljooki has been registered with Salomon Whitney Financial  since 8/2015.  He was previously registered with  Legend Securities 3/2015-8/2015, Tryco Securities 3/2015-3/2015  and Brookville Capital Partners 7/2009-3/2015

If you have losses in an account handled by Yousuf Saljooki  , 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

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

Wayne Ford-Former Salomon Whitney Broker-Discloses Pending Customer Dispute & Liens

Farmingdale, New York

JANUARY 2017 UPDATE-In January 2017, Wayne F. Ford was suspended by FINRA for failing to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

AUGUST 2016 UPDATE-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 Wayne F. Ford  disclose a currently  pending customer dispute,  5 prior final customer disputes, and 13 currently outstanding judgment/liens.

In currently pending FINRA Case 16-0687-a customer of Salomon Whitney Financial  alleges unsuitability, breach of contract, negligent supervision, breach of fiduciary duty and violations of the Louisiana Securities Act.  Damages are alleged to be $50,000.

Ford’s prior customer disputes include:

  • FINRA Case 14-02534- a customer of Salomon Whitney Financial  alleged unauthorized trading, churning, unsuitability and failure to supervise and damages of  $244,125. That case was settled for $125,000.

Ford’s disclosures regarding judgements and liens includes:

  • Internal Revenue Service tax lien in the amount of $68,010.
  • New York State Commissioner of Taxation and Finance tax lien in the amount of $15,945.

Ford was registered with Salomon Whitney Financial from  11/2011-11/2016.  He was previously registered with Rockwell Global Capital from 1/2011-12/2011. Prior to that he was registered with Brookstone Securities.

If you have losses in an account handled by Wayne F. Ford , 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

Shawn Burns Named in Customer Arbitrations Alleging High Pressure Stock Sales

April 11, 2016-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 Shawn E. Burns, a stock broker who works for Salomon Whitney Financial, report that he is currently named in 4 pending arbitrations and has resolved 10 other arbitrations. The pending arbitrations include:

FINRA Case 15-00107– customer alleges that Burns used high pressure tactics to purchase securities and/or equities from February 2012-August 2012. Damages are alleged to be $75,000.

FINRA Case 14-02953- customer alleges that Burns practiced high pressure sales , churned his account and recommended unsuitable trades. Damages of $130,000 are alleged.

Burns has previously been employed by Cape Securities , First Midwest Securities and Murphy & Durieu. He was discharged from Murphy & Durieu in 2002 for alleged unauthorized trading in a customer account.

FINRA records report that Burns filed for Chapter 7 bankruptcy in February 2016.

If you have losses in an account handled by Shawn E. Burns you may be able to recover damages from his 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