Category Archives: WFG Investments

Stuart G. Dickinson-Former WFG Investments Broker-Barred by Securities Regulagtor-Highland Park, TX

November 2016-Highland Park, Texas

According to publicly available records Stuart G. Dickinson, (CRD# 1047824) ,  a  former stockbroker who is was last employed in the securities industry by WFG Investments disclose that FINRA has permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public. FINRA alleged that Dickinson failed to conduct reasonable due diligence on private placement investments involving automated teller machines ( ATM Alliance, LP ) which were fraudulent.

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.

Dickinson  was employed by WFG Investments from 10/2005-9/2013, when he was discharged by WFG Investments.

If you have questions about an account in an account handled by Stuart Graham Dickinson , contact us 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

Jay D. Jordan Named In Customer Dispute-WFG Investments

April 2016- Oklahoma City, OK

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 Jay D. Jordan report that he was discharged from WFG Investments 3/31/2016, with the following allegations made by WFG Investments:
“WFG Investments has reasonably concluded the representative failed to follow certain policies of WFG, including failure to report a customer complaint, attempting to settle a customer complaint, unauthorized use of a personal email address to communicate with a customer and mischaracterizing aspects of an outside business activity”.

In a currently pending customer dispute, the customer alleges unauthorized trading in the account and claims damages of $164,644.

There are 4 prior customer disputes against Jordan reported that have been settled, including a claim that Jordan unsuitable recommendations and engaged in unauthorized trading. That case (NYSE 2002-010629) was settled for payment of $500,000 to the customer.

Jordan was registered with WFG Investments from 9/2005-4/2016.

If you have losses in an account handled by Jay D. Jordan, 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

Losses On Servergy, Inc ? – Recovery Options for Investors

April 12, 2016-Fort Worth, Texas

The Securities and Exchange Commission (SEC) filed fraud charges against McKinney, TX based Servergy, Inc. , William E. Mapp III, Caleb J. White and Texas attorney general Warren K. Paxton, Jr. Link to complaint. 

The SEC alleges that from November 2009-September 2013 $26 million was raised through private offerings by Servergy Inc. from investors who were duped into believing that Servergy was generating sales on new groundbreaking server technology when, in reality,  the server technology was behind that of competitors and there were not any sales.

In a February 2013 Private Placement memorandum, Servergy’s co-founder and then CEO William Mapp, III, led investors to believe their new server, the Cleantech-1000, was revolutionary and in high demand, Servergy hired WFG Investments of Dallas to raise $20 million in that offering.

According to the SEC complaint Servergy made numerous misrepresentations and omissions in the private placement memorandum about the new server to investors. In addition, the SEC alleges that investors were misled as to the purported sales figures leading investors to believe the company was generating income.

Brokerage firms have a duty to investigate the companies they are recommending. Thorough due diligence would likely have revealed the false information being disseminated by Servergy and its promoters.

If you invested in Servergy, Inc.  you may be able to recover damages from WFG Investments or the brokerage firm where you purchased Servergy, Inc. 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

David Williams-WFG Investments- Sued For Servergy Losses-Dallas, TX

April 12, 2016-Dallas, Texas

The FINRA records of David W. Williams, president of WFG Investments, report that he is currently named in an arbitration claim filed by a customer.

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 Case 16-00346– customer alleges various failures including failure to conduct a reasonable investigation into Servergy, unsuitable recommendations and breach of fiduciary duty. Alleged damages are $2,780,000.

Williams has been employed by WFG Investments since 10/2000.

SERVERGY, INC.-SEC FRAUD COMPLAINT NAMES TEXAS      ATTY GENERAL KEN PAXTON, JR.

On April 11, 2016, the SEC announced fraud charges against Servergy, Inc. , William E. Mapp III, Caleb J. White and Texas attorney general Warren K. Paxton, Jr. Link to complaint. 

The SEC alleges that $26 million was raised through private offerings by Servergy from investors who were duped into believing that Servergy was generating sales on new groundbreaking server technology. In reality the server technology was behind competitors and there were not any sales.

If you have losses in an account handled by David W. Williams, or losses on investment in Servergy, 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

Carl Busch-WFG Investments Broker-Sanctioned by Securities Regulator

December 30, 2015-Oklahoma City, OK

Carl W. Busch , a broker with WFG Investments, entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that  he failed to adequately supervise the sales practices of one of the brokers he was responsible for overseeing.

As a result the broker recommended and engaged in unsuitable trading in the IRA account of a retired customer and traded without written authority.

AWC No.  2013038710502

Busch was suspended in all principal capacities from association with a FINRA member firm for 45 days and fined $5,000.

FINRA records disclose that Busch  has been registered with WFG Investments since 6/ 2007.

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

Grady R. Jones- Former Emerson Equity/WFG Investments Broker Investigation- Dallas, Texas

Lewisville, Texas

Rex Securities Law is investigating Grady R. Jones, a broker who is currently unregistered but who was previously registered as follows:

  • Emerson Equity                         12/2013-9/2015
  • WFG Investments                       4/2010-12/2013
  • Lone Star Securities                11/2004-4/2010

FINRA reports that Grady was named in an Arbitration before the American Arbitration Association Case # 71 148 000198 10 where a customer alleged losses of more than $450,000 in oil and gas drilling programs. That case was settled for $250,000.

We are interested in hearing from former clients of Grady R. Jones who may have suffered losses.

Emerson Equity was formed in 2003 and headquartered in San Mateo, CA. They have offices in Delaware, Ohio, San Diego, CA, and Irving, Texas. Lone Star Securities was expelled from the securities industry in December 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

Former WFG Investments Broker With 42 Customer Complaints Pleads Guilty on Fraud Charges-San Antonio, TX

March 8, 2015- San Antonio, Texas

The Financial Industry Regulatory Authority (FINRA) reports that Matthew A. Bell , 47 of Boerne, TX, a broker who formerly worked for WFG Investments and Securities America, has been named in 42 customer disputes alleging damages in excess of $2,.5M. There are three disputes that have not yet been resolved, all of which allege unsuitable recommendations and misrepresentation and seek damages ranging from $5,000 to $75,000.

Bell was permitted to resign from WFG Investments in 6/2013 and is not currently registered with any broker dealer. Bell pleaded guilty to conspiracy to commit securities fraud and conspiracy to commit mail and wire fraud in a civil action brought by the Securities and Exchange Commission (SEC).

The SEC had charged Bell and a group of other conspirators with pumping up the price of penny stocks and dumping them on unsuspecting investors. The companies involved in the pump and dump were CodeSmart Holdings Inc., Cubed Inc., StarStream Entertainment Inc. and The Staffing Group Ltd. 

Bell found many of his victims through the Oak Hills Church.

If you had an account handled by Bell that suffered losses, contact us to learn how you may be entitled to 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