Tag Archives: elder financial exploitation

Elder Financial Exploitation Seminar-Williston, VT-May 18, 2017

May 16, 2017-Williston, VT

The New England Federal Credit Union is holding a seminar on Elder Financial Exploitation on Thursday, May 18th, at their main branch located at 141 Harvest Lane in Williston, from 5:30-7:00pm.

The seminar is free and open to the public.

If you are concerned about losses in your brokerage account or the investment accounts of your parents or loved ones, call for a no charge consultation to discuss your options. We have been helping investors recover damages for investment losses for over 25 years.

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

Peter Martorana, Former Toms River, NJ, Financial Advisor, Pleads Guilty

February 2017-Toms River, NJ
New Jersey 101.5 reports that Wall Township financial advisor Peter Martorana, 62, who worked for Retirement Benefit Specialists, pleaded guilty to accepting checks from elderly clients in their 70s, 80s, and 90s, but used the money for his own benefit.

Martorana was charged with one count of financial facilitation of criminal activity in excess of $500,000. Sentencing is scheduled for July 2017. The prosecutor has recommended a sentence of 10 years with a period of parole ineligibility of four years.

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

Michigan Certified Financial Planners Disciplined by CFP Board-Oct 2016 UPDATE

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 Michigan 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
Mark J. Carpenter (Ann Arbor)
James Currier (Bloomfield Hills)
Michael T. Fant (Plymouth)
Paul C. French, Jr. (Bangor)
Russell Jalbert (Southfield)
Robert Johnston (Birmingham)
E. David Marande (Grosse Pointe/Sterling Heights)
Brett M. Plew (Kalamazoo)
Mark W. Promack (Clinton Township)
Stanley A. Snider (Detroit)
Curtis L. Whipple (Canton)
Moses Wilson (Troy)

Permanent Relinquishment
Carl P. Kellogg (Ada)

Suspensions
Anthony Agbay (Bloomfield Hills)
William L. Davis (Troy)
Rex D. Foster (East Lansing)
Paul C. French, Jr. (Bangor)
Kenneth M. Harb (Livonia/West Bloomfield)
Shaun Dorr Hampton (Grosse Pointe)
Steve D. Parrett (Escanaba)
Thomas G. Pilch (Northville)
Christopher T. Reid (Rochester Hills)
Dominic J. Sacca (Bloomfield Hills)
Donald J. VanderWeele (Manistee)

Interim Suspension
Mark J. Carpenter (Ann Arbor)

Letters of Admonition
Rodney L. Clark (Tecumseh)
David Philip Globig (Spring Arbor)
John R. Hantz (Southfield)
Sean E. Mattson (South Lyon)
Harold M. Miller (Bay City)

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

Investment Fraud Workshop Set for June 15, Salina Public Library

A free workshop  discussing the tactics and schemes of fraudsters and scammers will be held on June 15, 2015, from 12:45-1:45pm at the Salina Public Library in the Prescott Meeting Room, 301 W. Elm.

The event is sponsored by the North Central-Flint Hills Area Agency on Aging in cooperation with the Kansas Office of the Securities Commissioner.

“World Elder Abuse Awareness Day is June 15th and certainly the schemes of financial and investment fraudsters are forms of elder abuse,” Julie Govert Walter, Executive Director of the North Central-Flint Hills Area Agency on Aging, said.

“Older Americans are the top targets for fraud schemes that happen throughout our country and right here in the Kansas heartland. The Kansas Securities Commissioner’s staff are real experts–they’ll provide the latest information about financial and investment fraud happening here in Kansas,  what you need to know to protect yourself and loved ones–and will answer your questions,” Walter said.

Call the Area Agency on Aging toll free at 800-432-2703 or 785-776-9294 in order to reserve your place or receive printed workshop materials or e-mail Cindy Brake at cindyB@ncfhaaa.com.

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

Frank Dettenrieder, Former First Allied Securities Broker-San Miguel de Allende, Investigated by Rex Securities Law

June 1, 2015-San Miguel de Allende, Mexico 

Rex Securities Law is investigating Frank Nicholas Dettenrieder who was formerly a stock broker with First Allied Securities from December 2008 until July 2013 when he was discharged from First Allied Securities for exercising discretion in customer accounts without written authorization.

His official FINRA records  show that Dettenrieder was suspended by FINRA in July 2014 for exercising discretion in six customer accounts. In addition he has been named in several customer complaints including one case in which the customer received an award of $239,000 against his employing firm in an arbitration alleging that investments they were sold were unsuitable.

We are investigating Dettenrieder on behalf of a retiree residing in San Miguel de Allende, Mexico, who believes the account was mishandled.

If you have information related to this matter, we would appreciate hearing from you. If you have losses in an account handled by Frank Dettenrieder you may be entitled to recover damages from his employer. Call to discuss your options.

First Allied Securities was formed in 1994, has 1,000 financial advisors in 500 branch offices. First Allied, like all brokerage firms in the United States is licensed by the Financial Industry Regulatory Authority (FINRA).

First Allied Securities also conducts business under the following names:

  • Advanced Equities Wealth Management Private Client Services
  • First Allied
  • First Allied Wealth Management
  • Greenbook Financial Services

In 2013 FINRA charged First Allied with having inadequate procedures regarding the delivery of prospectuses in connection with the sale of Exchange Traded Funds (ETF) and Unit Investment Trusts (UIT). They paid FINRA a fine of $40,000 to resolve the matter. In 2010 the SEC charged First Allied with failure to supervise a broker who made unsuitable recommendations and churned customer accounts over a two year period and who also engaged in unauthorized trading. To resolve the matter First Allied paid fine and restitution of $500,000.

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

Ronald Rafaloff, Former Liberty Partners Financial Broker, Sanctioned by Regulator

February 3 , 2015

Ronald Rafaloff  entered into an Order Accepting Offer of Settlement (Order) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that beween January 2011 and November 2012, while associated with Liberty Partners Financial Services, he invested the retirement savings of an elderly client in companies he controlled and thereafter converted the funds to his personal use.

The Order alleges that Rafaloff invested $405,000 of the elderly client’s savings in three speculative business entities founded by him and thereafter converted at least $168,000 of the client’s funds to pay his personal expenses.

FINRA Disciplinary Proceeding #2013036261002

Rafaloff was permanently barred from associating with any FINRA registered firm in any capacity.

Liberty Partners Financial Services was formed in 2004 and is registered in 52 States and Territories. Their main office is located in Bakersfield, California.

If you had losses in an account handled by Ronald Rafaloff, you may be able to recover damages from the broker dealer employing him. Call to speak with an experienced securities attorney.

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

Seminar On How to Avoid Financial Abuse/Exploitation Set for Maine Residents February 1st

January 27, 2015-Augusta, Maine

A public forum on how older citizens can successfully “Age in Place….At Home” will be held on Sunday, February 1, 2015, in Jewett Hall Auditorium at the University of Maine at Augusta Senior College. A snow date is set for the same time on February 22.

This is third in a series of forums. The panel of experts will include:

  • Judith Shaw, securities administrator for the Maine Office of Securities, and co-chair of the Maine Council for Elder Abuse Prevention
  • Denis Culley,  Legal Services for the Elderly’s first senior staff attorney
  • Nan Bell, community educator of the Family Violence Project

For further information, email umasc@uma.edu, call 621-3551 or visit www.umasc.org

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