Category Archives: Colorado Division of Securities

Colorado Certified Financial Planners Disciplined by CFP Board- OCTOBER 2016 Update

UPDATED OCTOBER 2016

According to their website, the “Certified Financial Planner (CFP) Board is a non-profit organization acting in the public interest by fostering professional standards in personal financial planning through its setting and enforcement of the education, examination, experience, ethics and other requirements for CFP. “

The CFP Board can discipline those holding the CFP title in one of three ways:

  • Public Letter of Admonition
  • Temporary Suspension of CFP certification
  • Revocation of individual’s CFP certification

The list below, taken from the CFP board disciplinary page of their
website in OCTOBER 2016, is a historical record of individuals from Colorado who have been disciplined by CFP Board and does not imply that any listed discipline is currently in force. To verify an individual’s current certification status visit the CFP website here.

Revocations
Vincent E. Barborka (Colorado Springs)
Riley W. Barker (Denver)
Gordon M. Budreau (Denver)
Chad A. Carpenter (Denver)
Cary D. Clark (Englewood)
John R. Erb (Steamboat Springs)
Bruce L. Fleet (Greenwood Village)
David L. Gresty (Aurora)
Nelson C. Krum, Sr. (Denver)
Brent L. Marvin (Highlands Ranch)
Jeffrey D. Ogle (Littleton)
Norman P. Rounds (Boulder)
Michael L. Seat (Broomfield)
James. J. Valasek (Colorado Springs)
Rick D. VanVleet (Fort Collins)
Robert L. West (Greenwood Village)
Darrell J. Williams (Colorado Springs)

Suspensions
Charles Battle (Denver)
Carol E. Dixon (Longmont)
Kent A. Fairweather (Denver)
James F. Glaza (Colorado Springs)
Jeannette A. Howes (Colorado Springs)
Scott B. Nelson (Lone Tree)
Louis W. Welt (Boulder)
Devon A. Wright (Golden)

Letters of Admonition
Mark A. Cose (Glenwood Springs)
Jason G. Hovde (Castle Rock)
Jim Newcomb (Fort Collins)
Martin T. Streetman (Castle Rock)
Patricia W. Wier (Boulder)

If you have questions about losses, unauthorized trading or unsuitable investments in your stock brokerage account, contact us 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 

Chad E. Thompson-Former IFS Securities Broker-Discloses Customer Dispute

July 2016

The FINRA records of Chad E. Thompson  , a currently unlicensed stockbroker who was last  employed by  IFS Securities  disclose a final regulatory event and 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.

In February 2004 the Colorado Division of Securities filed a notice of hearing alleging unsuitable trading, unauthorized trading, unfair and dishonest dealings, securities fraud and failure to supervise. Thompson agreed to a 90 day suspension and repayment of $14,000 to an affected investor.  Case#XY 2004-001

In currently pending FINRA Case 14-03343, a customer of Merrimac Corporate Securities alleges damages of $150,000 for churning and unsuitability.

Thompson was employed by IFS Securities from 6/2015-11/2015 and from 2/2013-4/2013. Prior to that he was employed by Merrimac Corporate Securities. Merrimac was expelled by FINRA in 3/2016.

Investors who suffered losses in an account handled by Chad E. Thompson may be entitled to recover damages from his former employer 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

Brian K. Decker Investigation-Legend Securities Broker

FINRA records report that Brian K. Decker, who has been registered with Legend Securities since 9/2009, is named in a 2 currently pending arbitrations:

  • FINRA Case 15-889 by a customer who alleges that Decker engaged in fraud, negligent misrepresentation, breach of fiduciary duty and churning and is seeking damages of $150,000.
  • FINRA Case 15-802 filed by a Florida resident, alleges that Decker was not licensed to sell securities in Florida, made false statements of material fact, engaged in unauthorized transactions, failed to follow instructions, engaged in churning and stock manipulation and improperly used margin borrowing in the account. The customer alleges damages of $150,000.

Brian Decker has been named in nine other customer disputes that have been resolved, including:

  • A July 2015 settlement of $35,000 to a customer alleging failure to supervise and unsuitable investments.
  • FINRA Case 14-2734 alleging violation of Colorado securities and consumer protection laws, negligence and common law fraud, settled for $14,999.
  • FINRA Case 12-1033 alleging breach of fiduciary duty, negligence, churning and fraud settled for $32,500.

Prior to joining Legend Securities, Decker was registered with VFinance Investments 

We are investigating Legend Securities broker Brian Decker and would like to speak with any of his present or prior customers who may have information they believe to be helpful to this investigation.

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

Colorado Man Indicted for Securities Fraud in Connection with Ohio Oil & Gas Deals

June 25, 2015

According to the Colorado Division of Securities , Adam Edward Hirschfeld, 32, of Centennial, Colorado has been indicted for securities fraud in connection with raising money at least $1.5 million from 35 investors, purportedly to be invested in  oil and gas wells in Ohio.

Hirschfeld’s companies include Ohio Energy Group, AAG Capital, Western Natural Resources Operating, Western Natural Resources Working Interest, Dover Energy Development Company, and Dove Energy Development Corporation, according to the release.

In 2010 he was the subject of an investigation by the Division of Securities and was subsequently arrested and pleaded guilty to securities fraud in Douglas County. He failed to disclose this prior ever to investors, according to the release from the Division of 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