Tag Archives: FSC Securities investigation

Gregg Templeton – Former Oppenheimer & Co. Broker – Discloses $6.75M Customer Dispute – NYC

JUNE 2017- New York, NY

According to publicly available records Gregg D. Templeton (CRD#2412775) ,  a  former stockbroker who was previously registered with Oppenheimer & Co., discloses a prior regulatory event, a currently pending customer dispute, 6 prior customer disputes and a termination 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 4/2017, Templeton was permanently barred from the securities industry by FINRA to resolve allegations that he failed to provide documents and information requested by FINRA in the course of an investigation into allegations that he misused customer funds and committed other sales practice violations.

In 7/2016, a customer of Oppenheimer & Co. alleged unauthorized trading and sought damages of $61,475.  The case was settled for $62,475.

In FINRA case #16-00111  a customer of  Oppenheimer sought damages of $220,000 for unsuitable investments, fraud, breach of fiduciary duty and negligent supervision.   The case settled for $562,500.

In currently pending FINRA case 16-02363  a customer of Oppenheimer & Co. alleges fraud and breach of contract and seeks damages of $6,750,000.

Templeton was employed by Oppenheimer & Co. from 1/2007 to 8/2015.   Since that time he was employed briefly by FSC Securities Corporation and Aegis Capital Corp .

If you have questions about an account in an account handled by Gregg D. Templeton 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

Gary C. Haack-Former FSC Securities Broker-Discloses Settlement of Customer Dispute-San Antonio, TX

June 2017- San Antonio, Texas

According to publicly available records Gary C. Haack  (CRD#2796834) ,  a  stockbroker who currently is employed by Corecap Investments  discloses  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 arbitration 15-0836, a customer of WFG Investments sought damages of $115,000 and alleged unsuitable investments in speculative products in connection with an investment in a private placement offering of medical and research firms. The case was settled for $70,000 in 6/2016.

Gary C. Haack  has been employed by Corecap Investments since 6/2016. His prior employment includes FSC Securities, WFG Investments and NEXT Financial Group.

If you have questions about an account handled by Gary C. Haack  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

Barry G. Hartman-Former FSC Securities Broker-Discloses Settlement of Customer Complaints-Missoula, MT

Missoula, MT

UPDATE MAY 2017-Former FSC Securities broker Barry Hartman discloses two additional pending customer disputes:

  • In FINRA case #16-3685 a customer of FSC Securities alleges damages of $184,750 for unsuitable investment recommendations.
  • In FINRA case 16-3526 a customer of FSC Securities alleges damages in an unstated amount for violations of fiduciary duty in connection with the recommendation to invest in a real estate investment trust (REIT).

 

ORIGINAL POST-July 2016

The FINRA records of Barry G. Hartman  , a  currently unlicensed stockbroker who last worked for  FSC Securities  disclose 2 prior regulatory events, 4 pending customer disputes, 12 prior customer disputes and a termination.

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 Disciplinary Proceeding 2015044671601, in August 2015, Hartman was permanently barred from the securities industry to resolve allegations that he participated in private securities transactions by personally investing $450,000 in undisclosed outside businesses and by recommending that customers of his member firm also invest in those outside businesses without complying with firm procedures.

Nine of the prior customer disputes were resolved by payment of cash settlements, including:

  • FINRA Case 15-02025 brought by a customer of FSC Securities  alleging  negligence in connection with an investment in Invizeon. That case was settled for $52,500.
  • FINRA Case 15-0932 brought by a customer of FSC Securities alleging breach of fiduciary duty, negligence and fraud. That case was settled for $27,500.
  • FINRA Case 15-1064  brought by a customer of FSC Securities alleging that Hartman made unsuitable recommendations in the accounts of two customers. That case was settled for $135,000.
  • FINRA Case 15-0760 brought by a customer of FSC Securities alleging breach of fiduciary duty, negligence and fraud in connection with Invizeon. That case was settled for $80,000.

The currently pending cases include:

  • FINRA Case 16-195 in which a customer of FSC Securities alleges damages of $150,000 for negligence and misrepresentation in connection with investments in equipment leasing and real estate securities.
  • A customer alleging damages of $250,000 for breach of fiduciary duty, negligence and fraud in connection with an investment in a variable annuity.

Barry G. Hartman was employed by FSC Securities  from 2/2002-3/2015. He was discharged by FSC Securities in March 2015. FSC made the following allegation on his FINRA records: “registered representative terminated for violation of firm policies, to include, Mr. Hartman’s participation in an undisclosed outside business activity and an undisclosed private securities transaction.”

Harman discloses a business affiliation with Rocky Mountain Financial.

Investors who have questions about how their account has been handled by Barry G. Hartman should 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

Andrew S. Corbman-Former Kovack Securities Broker-Discloses 5 Pending Customer Disputes

UPDATE DECEMBER 2016Andrew S. Corbman was permanently barred by FINRA from acting as a broker or otherwise associating with firms that sell securities to the public. Without admitting or denying the findings, Corbman consented to sanctions and entry of findings that he refused to appear for on the record testimony as requested by FINRA in connection with his termination from employment from his firm and allegations against him regarding unsuitable and unauthorized trading. FINRA Case 2016051009001.

ORIGINAL POST-July 2016- South Florida

The FINRA records of Andrew S. Corbman disclose 1 final regulatory matter, 5 pending customer disputes, 7 prior final customer disputes, 1 termination from employment , a pending personal bankruptcy and 2 Federal tax 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.

The currently pending customer disputes include:

  • FINRA case 16-1671- a customer while Corbman was employed by Kovack Securities alleges damages of $700,000 for violations of the Virginia Securities Act, common law fraud, breach of fiduciary duty and other claims.
  • FINRA Case 16-0498-a customer while Corbman was employed by Kovack Securities alleges damages of $1.3 million for unauthorized and unsuitable trading and failure to supervise.

Earlier in 2016 Corbman was sanctioned and suspended  by FINRA to resolve allegations that while he was employed by FSC Securities, he made unsuitable recommendations to three customers that were inconsistent with their investment objectives and risk tolerance.

FINRA records indicate that Corbman was registered with Newbridge Securities from 11/2015-3/2016. He was registered with Kovack Securities from 1/2011-11/2015. Prior to that he was registered with FSC Securities from 2/2008-1/2011. He is not currently registered.

Corbman was discharged by FSC Securities in 2011 , who made the following statement on Corbman’s official FINRA record:

“The registered representative violated firm policies, including the use of unapproved advertising, failure to utilize required firm sale practice forms and was found to have utilized an unapproved email address.”

If you have losses in an account handled by Andrew Corbman, you may be able to collect 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

Richard M. Ohlhaber-Former Southwest Securities Broker-Discloses Pending Customer Disputes/Regulatory Actions-Grapevine, TX

June 2016-Grapevine, Texas

According to FINRA records,  Richard M. Ohlhaber   a stockbroker  who most recently was  employed by FSC Securities Corp., Inc. , discloses two pending customer disputes. He also discloses  3 prior final regulatory events , 8 prior final customer disputes and has been permanently barred from the securities industry .

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 currently pending FINRA Case 15-02113, a customer while Ohlhaber was employed by Southwest Securities (now known as Hilltop Securities) ,  alleges damages of $230,000 for losses incurred by following Ohlhaber’s recommendation to invest in Life Partners, Inc. , an unregistered security which was represented as a conservative, low risk investment.

In currently pending FINRA Case 13-03547, a customer while Ohlhaber was employed by Southwest Securities,  alleges damages of $450,000 for misrepresentation with respect to the tax consequences of the surrender of a variable annuity.

In 2014, FINRA permanently barred Ohlhaber from the securities industry in connection with his sale of life settlement contracts.

According to FINRA records Ohlhaber was registered with FSC Securities from 8/2012-11/2012. Prior to that he was registered with Southwest Securities from 5/2008-4/2012.

If you have questions about an account handled  by Richard Ohlhaber, call 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 

Texas-512-329-2870

Andrew Corbman-Former Kovack Securities Broker-Named in $1.3M Complaint

April 2016- South Florida

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 Andrew S Corbman report that a customer has filed FINRA arbitration #16-498 seeking damages of $1,300,000 for unauthorized and unsuitable investments being made in their account while Corbman was employed by Kovack Securities, Inc. The investments involved are OTC equities and penny stocks.

Earlier this year Corbman was sanctioned by FINRA to resolve allegations that while he was employed by FSC Securities, he made unsuitable recommendations to three customers that were inconsistent with their investment objectives and risk tolerance.

FINRA records indicate that Corbman was registered with Newbridge Securities since 11/2015-3/2016. He was registered with Kovack Securities from 1/2011-11/2015. Prior to that he was registered with FSC Securities from 2/2008-1/2011. 

Corbman was discharged by FSC Securities who made the following statement on Corbman’s official FINRA record:

“The registered representative violated firm policies, including the use of unapproved advertising, failure to utilize required firm sale practice forms and was found to have utilized an unapproved email address.”

If you have losses in an account handled by Andrew Corbman, you may be able to collect 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

Henry Kulig & FSC Securities Hit with FINRA Arbitration Award For Sale of REIT-Clearwater, FL

February 25 , 2016- Chicago, Illinois

A Financial Industry Regulatory Authority (FINRA) arbitration panel ordered FSC Securities and broker Henry John Kulig, III, to pay two of their customers, a married couple, $65,333 plus interest and costs. The couple filed their case seeking damages as a result of the broker’s recommendation that they invest in American Capital Properties, a real estate investment trust (REIT). FINRA Case# 15-193.

The couple alleged they were seeking a safe and conservative investment and that the American Capital Properties REIT was unsuitable for their risk tolerance and investment goals.

FINRA records report that Henry J Kulig of Clearwater, FL, has been licensed with FSC Securities since 1998 and associated with the Csenge Advisory Group since 2011.

REITs have been sold to many investors with representations that it is a safe and conservative investment, with the promise of regular income distributions and an expectation that the principal is secure. Many investors have found these promises to be untrue. If you have losses on REITs 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