Category Archives: Sandlapper Securities

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

Jack C Bixler-Sandlapper Securities Broker-Discloses Pending Regulatory Matter-Greenville, S.C.

February 2017-Greenville, South Carolina

According to publicly available records Jack Charles Bixler , (CRD# 22331) ,  a   stockbroker who is currently employed by Sandlapper Securities, discloses a pending 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.

Bixler discloses that on 1/10/2017 he was  notified by FINRA of a preliminary determination to recommend disciplinary action be brought for potential violations of various sections and rules of Securities Exchange Act, the Securities ACT and FINRA rules.

 

Bixler has been employed by Sandlapper Securities since 6/2006, and discloses association with Sandlapper Student Housing, SWM Legacy Co. , TSWR Development, Sandlapper Capital Investments LLC and Sandlapper Insurance Services LLC,  

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

Anthony Diaz-Former IBN Financial Broker-Discloses 42 Customer Complaints

Scotrun, PA

UPDATE October 2016-Anthony Diaz discloses a total of 42 customer complaints, of which 16 are currently pending. In addition he discloses 5 Employment Separations After Allegations by former employers. See this for FINRA brokercheck record.  

 

Original post February 2016-Anthony Diaz (CRD 4131948) entered into an Order Accepting Offer of Settlement with the Financial Industry Regulatory Authority (FINRA) on May 27, 2015, agreeing, without admitting or denying FINRA’s allegations, to a bar from acting as a broker or otherwise associating with firms that sell securities to the public.

The FINRA Order makes the following Findings and Conclusions:

  • Diaz induced approximately eighty customers to enter into variable annuity exchanges, often subject to significant surrender charges, without a reasonable basis for recommending those exchanges.
  • Diaz engaged in misconduct in connection with the sale of direct participation partnerships and real estate investment trusts, or REITs, during the period February 2007 through February 2010, falsely telling seven customers that the investments were either guaranteed or guaranteed to pay certain amounts of interest.
  • Diaz falsified or caused the falsification of the liquid net worth, net worth, and/or income information for at least nine customers to make it appear that they were eligible to invest in the products described in the preceding paragraph when they in fact were not. He also altered or caused the alteration of the dates that appeared next to the signatures ofcustomers on authorizations to transfer accounts on at least two occasions.
  • Diaz made unauthorized trades in the accounts of at least seven customers
  • Diaz was fired by or allowed to resign from more than half of the eleven firms at which he worked over his fourteen years in the securities industry.

According to FINRA records, Diaz has been named in 38 customer disputes of which 23 are currently pending.

Diaz most recent employments  were:

9/2012-4/2015                      IBN Financial Services

3/2012-9/2012                      Sandlapper Securities 

8/2011- 3/2012                      International Financial Solutions

4/2011-8/2011                       Kovack Securities

3/2010- 4/2011                      Matrix Capital Group

If you have losses in an account handled by Anthony Diaz, contact us to learn how you may be able to collect damages from his former employer. FINRA records indicate that Diaz operated under these DBAs: Financial Planners Group of America, Wealth Management Group of America and Anthony Diaz, Inc. 

Anthony Diaz FINRA Order May 2015 can be viewed here.

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 VSR Financial Broker Kevin M. Nevin Discloses Pending Customer Dispute-St. Louis Park, MN

Saint Louis Park, MN

UPDATE FEBRUARY 2017– IN July 2016 a customer of Nevin’s former employer VSR Financial filed FINRA case 16-1993 alleging fraud and unsuitability in connection with an investment in a promissory note and an investment in Breakwater Capital Group II, LLC. The customer seeks damages of $50,000.

VSR FINANCIAL HAS CLOSED OPERATIONS-In the fall of 2016, VSR Financial announced that it was closing operations and transferring existing customers and most of its brokers to a related entity, Summit Brokerage Services. For more information VSR’s issues related to the sale of alternative investments, follow this link.

ORIGINAL POST 2/6/2016–Rex Securities Law is investigating former VSR Financial Services broker Kevin Mark Nevin  in connection with the sale of various alternative investments including real estate securities, oil and gas securities, and other direct investments.

According to FINRA records Nevin has been named in in 3 customer disputes, some of which relate to alternative investments, and one regulatory matter.

In May 2014, Nevin was fined $37,000 and suspended by FINRA for six months to resolve allegations that he did not properly notify his member firm of his involvement in the sale of $690,000 of private placement investments.

In 2013 a customer filed a FINRA arbitration (#12-00513) claim alleging damages of $555,000 in connection with the sale of various alternative investments, including direct investments and limited partnership investments in oil & gas and real estate securities. That case was settled for $361,250, paid by his then member firm VSR Financial.

According to FINRA records Nevin was registered with VSR Financial from 3/2006-2/2011. He was next registered with Capital Guardian, LLC from 2/2011-5/2014. Nevin has been registered currently with Sandlapper Securities since 1/2015.

VSR Financial Services was fined $550,000 by the Financial Industry Regulatory Authority (FINRA) in May 2013 in connection with the sale of alternative investments. In their findings, FINRA criticised VSR Financial for recommending high concentration levels of alternative investments in customer accounts and for its lack of supervision over the use of consolidated reports prepared by brokers and provided to customers.

Alternative investments include non publicly traded real estate investment trusts (REITS) , hedge funds, real estate, commodities and derivatives contracts and, managed futures. It may also include art, wine, antiques, coins or stamps. These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.

If you have losses in an account handled by Kevin Nevin or other VSR Financial stockbroker, contact us to discuss how you may be able to recover damages for those losses from Nevin’s 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

Former Sandlapper Securities Broker Fitzhugh Duggan Sanctioned by FINRA

January 20, 2015-

Fitzhugh L. Duggan III  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that between May 2012-September 2012, while employed by Sandlapper Securities he falsely listed himself as the broker of record on applications and other documents for 23 variable annuity transactions.

Duggan was suspended for three months and fined $5,000. FINRA records indicate that prior to Sandlapper where he was registered from 3/2012-9/2012, he was registered with International Financial Solutions 2/2012-3/2012 and prior to that at New England Securities 3/2010-10/2011. He was registered with IBN Financial Services 9/2012-11/2013 and is currently registered with Allstate Financial Services.

FINRA Case # 2012034112401

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

IBN Financial Broker Anthony Diaz Sued by FINRA for Multiple Securities Violations

In August 2014, the Financial Industry Regulatory Authority (FINRA) filed a complaint against stockbroker Anthony Diaz of IBN Financial Services, Scotrun, PA.

The complaint, FINRA Disciplinary Proceeding No. 2011030254902, alleges a myriad of wrongdoing by Diaz, including:

  • From March 2010-May 2011, Diaz solicited 80 customers to exchange variable annuities without a reasonable basis for recommending those exchanges. (This is know as annuity swapping, a form of churning)
  • During 207-2010, DIaz falsely told customers that direct participation partnerships and real estate investment trusts (REITs) were guaranteed.
  • He recommended an illiquid product to an 88 year old customer, violating suitability requirements.
  • He falsified the liquid net worth, net worth and/or income information of at least nine customers to make it appear that they were eligible to invest in REITs and direct investment partnerships when in fact they were not. He also changed dates and forged documents.
  • Diaz made unauthorized trades in the accounts of at least 7 customers

Diaz was first registered as a stockbroker in 2000. During this 14 years he has worked for eleven firms:

  • IBN Financial Services
  • Sandlapper Securities
  • International Financial Solutions
  • Kovack Securities
  • Matrix Capital Group
  • SII Investments
  • First Allied Securities
  • Round Hill Securities
  • Raymond James Financial Services
  • Edward Jones
  • Horwitz & Associates (now InSight Securities) 

According to FINRA records Diaz was fired or allowed to resign from half of the firms where he worked for reasons including:

  • Solicited sales of variable annuities to clients without being properly appointed with annuity company
  • Complaints that Mr. Diaz entered unauthorized trades
  • Violated firm’s prohibition against unauthorized trading

If you suffered losses in an account handled by Mr. Diaz you may be able to recover damages. If you suffered damages in an account handled by your broker as a result of churning annuities, unauthorized trading or forgery, call to discuss your legal 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 Centaurus Broker Maryellen Lindley Fined/Suspended by FINRA

Anderson, South Carolina

Maryellen T. Lindley, formerly registered with Sandlapper Securities, was assessed a deferred fine of $10,000 and suspended by FINRA for 12 months to resolve allegations that she shared commissions iwth unregistered individuals.

In the FINRA findings, Lindley invested $1.1 million on behalf of customers  and earned commissions of about $90,000, half of which was shared with accountants, who were not registered with FINRA, who had referred the investors to her. The findings also state that Lindley failed to disclose this to her member firm and denied the commission spitting arrangement in response to FINRA’s requests for information.

According to FINRA records Finley was registered with Sandlapper Securities from 10/2013-1/2014. Prior to that she was registered with Centaurus Financial. 

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