Tag Archives: Avenir Financial Group investigation

Cesar Rodriguez-Former Avenir Financial Group Broker- Discloses Customer Disputes & Termination- Wheaton, IL

August 2017, Wheaton, IL

According to publicly available records  Cesar Omar Rodriguez (CRD#4451732) , a former stockbroker who was previously registered with Avenir Financial Group, disclose a regulatory event , three prior customer disputes , two terminations from employment and an outstanding judgment lien.

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 April of 2015  Rodriquez  was permanently barred from the securities industry by FINRA to resolve allegations that “he defrauded investors by knowingly misrepresenting the true use of investors’ proceeds and improperly misusing investors’ funds for personal expenses unrelated to the operation of his member firm’s branch office…..”

In October of 2015, an  Avenir Financial Group  customer filed a complaint alleging unauthorized trading, breach of fiduciary duty, churning, manipulation, misrepresentation, suitability, negligence, indemnification, recovery of commissions, theft, swindling, and forgery.  Claimant alleged that Rodriguez purchased shares in his account and traded on his margin without permission.  Claimant further alleged that Rodriguez falsified account documents.   In FINRA case 15-02744 the Claimant was awarded the sum of $133,989.04 in compensatory damages, plus interest.   He was also awarded the sum of $22,500 in punitive damages, plus interest.

In April of 2015,  Rodriguez was discharged from Avenir Financial Group .

In November of 2008, Rodriguez was discharged from Charles Morgan Securities, Inc. who alleged that he violated the rules of the industry standards of conduct.

 Rodriguez was with Avenir Financial Group from July of 2013 until he was barred by FINRA in April of  2015.  His prior employment includes American Trust Investment Services, National Securities Corp. and Chicago Investment Group.   Rodriguez also discloses an affiliation with Bull Run Capital Holdings LLC.

If you have questions about an account handled by Cesar O. Rodriguez, 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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Sperry R. Younger-NMS Capital Advisors Broker-Discloses Customer Dispute

July 2016-New York

The FINRA records of Sperry R. Younger ,  a stock broker who is currently employed by NMS Capital Advisors, LLC, disclose  a currently pending regulatory event, a currently pending customer dispute,  3 prior finalized customer disputes, a pending financial event and 6 outstanding judgement/liens.

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 the currently pending regulatory matter, FINRA Case 2013037522501, FINRA alleges that while employed by NMS Capital Securities,  Younger made misrepresentations to FINRA by providing false testimony regarding backdated memoranda and that Younger failed to establish and maintain a reasonable supervisory system at his member firm and that he failed to reasonably supervise individuals at the firm

In the currently pending customer dispute, a customer of J. Streicher Capital alleges that Younger failed to undertake  or perform advisory and capital raising services on behalf of Mullen Technologies pursuant to a signed agreement. Damages of $54,466 are sought.

Sperry R. Younger has been employed by NMS Capital Advisors since 10/2015. Prior to that he was employed by a number of firms, including: Avenir Financial Group, J. Streicher Capital and Rothschild Lieberman .

Sperry discloses the filing of Chapter 7 bankruptcy in the Southern District of New York and 6 pending judgements/liens.

If you have questions about an account handled by Sperry R. Younger call to learn how you may be entitled to collect 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

Glen Rauch-Former Avenir Financial Broker-Accused of Harassment and Unauthorized Trading

UPDATE SEPTEMBER 2016-FINRA named Glen J. Rauch in a complaint alleging that following his termination from registration(see below) he repeatedly sent abusive, obscene, intimidating and threatening messages to a principal of his former firm. Rauch ceased these actions only after a restraining order was obtained.

The complaint also alleges that Rauch committed an array of sales practice violations that demonstrate dishonesty, evasiveness, and a disregard for FINRA rules causing losses to customers. FINRA alleges that Rauch effected unauthorized trades in customer accounts and failed to timely disclose IRS and State tax liens. FINRA Case #2014039358002.

Original post–July 2016– Orangeburg, NY

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 FINRA records of Glen J. Rauch  report that a customer of Avenir Financial Group alleged damages of $370,000 for misrepresentation of account balances, failure to follow instructions and properly hedge investment risk.

Rauch discloses two separations from employment after allegations:

  • In 2008 Rauch was discharged by National Securities Corporation who alleged that he was termed for contacting client(s) while suspended pending an internal review of client complaints received while Rauch was on heightened supervision.
  • In 2004 Rauch discloses that he was discharged by J.P. Turner who alleged suspicion of using discretion in accounts.

Rauch is not currently registered. He was  registered with Avenir Financial Group from 8/2013-2/2016.  Prior to that he was registered with Rockwell Global Capital and Charles Vista LLC.

Investors suffering  losses in an account handled by Glen J. Rauch  are encouraged to 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

Salvatore Gioe- PHX Financial-Named in Unauthorized Trading Complaint

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.

According to FINRA records, former  stockbroker Salvatore Gioe , who is not currently registered ,  discloses ten prior customer disputes, including:

  • FINRA Case 13-1018- a customer of Gioe while he was registered with First Midwest Securities alleged damages of $350,000 for unauthorized trading, account churning, and other claims. That case was settled for $65,000.

Gioe discloses a currently pending customer disputes  made by a customer while Gioe was registered with PHX Financial who alleges damages of $22,994 for unauthorized trading.

Salvatore Gioe was registered with Chelsea Financial Services from 3/2016-3/2016, with Avenir Financial Group from 1/2015-2/2016 and with PHX Financial  from 10/2012-12/2014. 

If you have questions about an account handled by Salvatore Gioe  contact us to discuss your options and to learn how you may be able 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

Richard Gomez Investigation Update-Avenir Financial-Legend Securities

April 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 Richard Gomez  report that he is currently named in  a FINRA regulatory Complaint, No. 2011030293503, which alleges that while employed by Legend Securities, Inc., he defrauded investors of at least $499,000 through his participation in two separate schemes involving private securities transactions away from his firm, Praetorian Global Fund and U.S. Coal Corporation.

Gomez’s FINRA record discloses 2 pending customer disputes:

    • FINRA Case 16-0035 filed by a Florida resident against Gomez while he was employed by Avenir Financial Group alleges unauthorized trading, excessive commissions, churning and suitability. The customer alleges damages of $110,000.
    • FINRA Case 15-01041  filed against Gomez while he was employed by Legend Securities, alleges violation of NY Consumer Protection Act and NY Business Law 349, breach of contract, fraud and other claims and seeks damages of $110,000.

Gomez has been registered with 17 different brokerage firms since 2006, some for as short a period as 2 or 3 months. See his FINRA record for complete details.

If you have losses in an account handled by Richard Gomez, 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

David A. Allen-Former Avenir Financial Broker-Discloses Customer Disputes-Boston

April 2016- Boston

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 FINRA records of David A. Allen disclose 2 final customer disputes:

  • FINRA Case 15-02744-A customer of Avenir Financial Group alleged unauthorized trading , non receipt of any trade confirms and statements, forgery and other claims. Damages sought were $225,000. The customer was awarded $250,177 in this case.
  • FINRA Case 15-00155- A customer of Avenir Financial Group alleged various causes of action including excessive commissions, breach of fiduciary responsibility, common law fraud, unauthorized trading & churning. Damages sought were $1,000,000. The case was settled 2/2016 for $275,000.

Allen was registered with Avenir Financial Group from 3/2012-1/2016. He is not currently registered.

If you have losses in an account handled by David A. Allen, 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

Enver Alijaj-Investigation Update-Former Legend Securities Broker

April 13, 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 Enver R. Alijaj , report that he is currently named in 9 pending customer disputes, 2 pending criminal matters and has an outstanding lien in the amount of $37,438 in favor of American Express Centurian Bank.

In 2014, one of Alijaj’s former customers at  JHS Capital Securities, won a $1 million award against Alijaj. JHS Capital Securities had made a confidential settlement prior to the arbitration hearing. See this for details. 

In the currently pending cases the customers make allegations that Alijaj made unsuitable investments, churned and made excessive trades in the accounts, over concentrated the accounts and was grossly negligent. Total alleged damages in the pending cases exceed $3 million. See FINRA record for details.

FINRA records report Alijaj was employed in the securities most recently as follows:

  • 4/2013-8/2013             Avenir Financial Group
  • 12/2010-4/2013           Legend Securities Inc. 
  • 4/2010-12/2010           First Midwest Securities 
  • 6/2009-4/2010               JHS Capital Securities

Alijaj was “permitted to resign” from Legend Securities in March 2013 with the following allegation from his former employer:

“During FINRA mandated suspension from 1/22/2013-3/21/2013, Mr. Alijaj was prohibited from entering Legend’s offices. However, the firm has learned that Mr. Alijaj violated this prohibition by coming into Legend’s office after hours. In addition Mr. Alijaj failed to respond to compliance inquiries in response to firm oversight.”

If you have losses in an account handled by Enver Alijaj, you may be able to recover 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