Tag Archives: Alexander Capital churning complaint

Former Alexander Capital Brokers-Gennity and Roveccio-Named in SEC Fraud Suit-NYC

September 2017-New York

Two New York City brokers working for Alexander Capital L.P. have been charged with securities fraud by the Securities and Exchange Commission. William Gennity,30,  and Rocco Roveccio, 42,  have been charged with making unsuitable recommendations to customers resulting in ill-gotten gains for Gennity and Roveccio.

According to the complaint filed by the SEC , Gennity and Roveccio:

  • knew or recklessly disregarded that their recommendations were not suitable for anyone
  • made recommendations that were unsuitable for certain of their customers in light of those customers needs, investment objectives and circumstances.
  • made material misrepresentations and omissions to customers.
  • churned customer accounts, and
  • engaged in unauthorized trading

As a result nearly $500,000 in commission were earned by Gennity, Roveccio and Alexander Capital LP, while the clients suffered losses of nearly $700,000.

William C. Gennity of Staten Island, NY, was employed by Alexander Capital 4/2012-10/2014 and worked at eight different firms during his 13 year career in the securities industry. He is currently employed by First Standard Financial Company. His FINRA record discloses 3 pending customer disputes and 3 prior customer disputes.

Rocco Roveccio of Freehold, NJ, was employed by Alexander Capital 6/2012-10/2014 and was employed by 15 different firms during his 22 years in the securities industry. He is currently employed by First Standard Financial Company. Roveccio’s FINRA record discloses 3 prior customer disputes and two outstanding judgment liens. In one of the customer disputes brought by a customer of his former employer, LCP Capital Corp, the customer alleged unauthorized trading, suitability, breach of fiduciary duty and churning. The customer was awarded damages of $216,275.

In FINRA Case 13-01691, a customer of Alexander Capital LP alleged unauthorized trading, breach of fiduciary duty and unsuitability and was paid a settlement of $87,500 by Roveccio.

If you have questions about losses in an account handled by William Gennity or Rocco Roveccio, call to learn how you may be able to recover damages from their prior 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.

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Baris Dincer-Former Revere Securities Broker-Discloses $1.5M Customer Arbitration Alleging Churning-New York

June 2017- New York

According to publicly available records Baris Dincer  (CRD#5637472) ,  a  stockbroker who currently is employed by J.H. Darbie & Co.  discloses  2 pending customer disputes and 2 terminations 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 pending FINRA arbitration 13-03605, a customer of Alexander Capital seeks damages of $1.5 million and alleges churning, excessive trading and unsuitable investments.

In a claim filed in 6/2016, a customer of Revere Securities seeks damages of $45,000 and alleges unauthorized trading.

In 3/2014, Dincer was permitted to resign from Forefront Capital Markets over issues of trust and confidence.

In 11/2012, Dincer was discharged by Alexander Capital who alleged “possible violations of industry standards regarding certain bond transactions. ” 

Baris Dincer  has been employed by J.H. Darbie & Co. since 6/2017. His prior employment includes Revere Securities, Koyote Trading, Odeon Capital Group, Forefront Capital Markets, Alexander Capital, Legend Securities and J Giordano Securities Group (now Newoak Capital Markets) . 

If you have questions about an account handled by Baris Dincer  contact us 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

Jason H. Klabal-Former Legend Securities Broker-Discloses Customer Disputes

January 2017- New York

According to publicly available records Jason H. Klabal , (CRD# 2910714) ,  a  stockbroker who is currently employed by Alexander Capital disclose 2 currently pending 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.

In FINRA Case 16-3549, a customer of Klabal’s former employer, Legend Securities,  alleges damages of $200,000 for churning, misrepresentation, breach of fiduciary duty, negligence and breach of contract.

In FINRA Case 16-3029, a customer of Klabal’s former employer, Legend Securities, alleges damages of $150,000 for fraud, churning, excessive margin, over concentration, breach of fiduciary duty, breach of contract and negligence.

Klabal has been employed by Alexander Capital since 6/2016.  He was previously employed by Legend Securities and before that, Buckman Buckman and Reid. 

If you have questions about an account in an account handled by Jason H. Klabal, 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

Ty K. Bauer-Former J.P. Turner Broker-Discloses Customer Disputes-Oxford, MS

January 2017- Oxford, MS

According to publicly available records Ty Kevin Bauer , (CRD# 2150885) ,  a  stockbroker who is currently employed by Alexander Capital disclose 2 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.

In FINRA Case 13-3434, a customer of Bauer’s prior employers, J.P. Turner & Co. and Calton & Assoc, alleged damages of $200,000 for misrepresentations related to bond investments for the period of time October 2011 to the present. That case was settled for $18,000.

Bauer has been employed by Alexander Capital since 7/2016.  Bauer was previously employed by Coker & Palmer 1/2015-7/2016 and by J.P. Turner 11/2011-1/2015. Prior to that he was employed by Calton & Associates.

If you have questions about an account in an account handled by Ty K. Bauer, 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

Jeanpaul C. Skovronck- Alexander Capital Broker-Discloses Customer Dispute Alleging Churning

January 2017- Staten Island, New York

According to publicly available records Jeanpaul Charles Skovronck , (CRD# 2744738) ,  a  stockbroker who is currently employed by Alexander Capital disclose a currently 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 FINRA Case 16-2502, a customer of Skovronck’s prior employer, Legend Securities, alleges damages of $200,000 for unsuitable investments, negligent account management, churning, breach of contract, breach of fiduciary duty and negligence.

Skovronck has been employed by Alexander Capital since 5/2012. Prior to that he was registered with Legend Securities.

If you have questions about an account in an account handled by Jeanpaul Charles Skovronck, 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