Tag Archives: Newbridge Securities complaint

Newbridge Securities Fined $499,000 by Securities Regulator Over Structured Products-Boca Raton, FL

August 2017- Boca Raton, FL

Boca Raton, FL based brokerage firm Newbridge Securities Corp. was fined $499,000 by Pennsylvania Department of Banking and Securities for failure to supervise a broker in connection with the sale of structured products to Pennsylvania residents.

According to the Consent Agreement and Order, from January 2012-December 2016, Newbridge did not maintain a reasonable system for applying and enforcing written procedures pertaining to their sales of structured products by one agent in Pennsylvania.

This is not the first time Newbridge Securities has encountered regulatory problems. Their FINRA record discloses 28 prior regulatory events .

Newbridge Securities has over 80 locations nationwide. Recent SEC filings report total revenue in 2016 of $26 million with a net loss of $487,738.

If you have questions about losses in an account at Newbridge Securities, call to learn how you may be able to recover damages.

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

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

David G. Menashe-Former Joseph Stone Capital Broker-Sanctioned by Securities Regulator for Excessive Trading-New York

July 2017-New York

The FINRA records of  David G. Menashe ,  a  stockbroker who is currently  employed by  Newbridge Securities Corp. , disclose a  prior regulatory event.

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 2017 Menashe was sanctioned by the Montana Office of the Commissioner of Securities and Insurance for excessive trading and unauthorized trading. The Notice of Proposed Agency Action and Opportunity for Hearing contains various conclusions of law, including the following:

  • Respondents Joseph Stone, Spadaro, Menashe, Maggio and Barrish violated 6.10401(1)(K) when they charged total commissions of $239,260.02 out of the $877,492.99 principal originally invested by Montana clients, or 28% of their total investment. 

Menashe entered into a Consent Agreement with the Montana regulator and agreed to pay restitution of $15,000.

Menashe was employed by Joseph Stone Capital from 2/2013-1/2017. Prior to that he was employed by First Midwest Securities.

If you have questions about an account handled by David G. Menashe, call to learn about 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

Dominic J. Linsalata-Newbridge Securities Broker-Discloses Settlement of Customer Dispute-Boca Raton, FL

May 2017-Boca Raton, FL

The FINRA records of  Dominic J. Linsalata Jr.  ,  a  stockbroker who is currently registered with Newbridge Securities disclose a customer dispute that was settled.

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 #15-02669 a customer of Dawson James Securities alleged damages of $340,000 for unsuitable recommendations. That case was settled for $175,000 in 3/2017.

Linsalata has been employed by Newbridge Securities  since 7/2016. He was with Dawson James from 10/2102-8/2016 and with Chelsea Financial Services from 1/2012-7/2012.

If you have questions about an account  handled by Michael J. Romanelli  , 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

Thomas P. Smith-Former Titan Securities Broker-Discloses Customer Dispute Over Alternative Investment-Arlington, TX

April 2017-Arlington, Texas

The FINRA records of  Thomas P. Smith ,  a   stockbroker who is currently registered with Center Street Securities disclose 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 currently pending FINRA case #16-3184 a customer of his prior employers Titan Securities & Newbridge Securities alleges damages of $250,000 for negligence, violations of the Texas Securities Act and other claims related to the purchase of a non-traded alternative investment.

Alternative investments include non publicly traded real estate investment trusts (REITS) , hedge funds, real estate, commodities and derivatives contracts and, managed futures. It may also include art, wine, antiques, coins or stamps. These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.

 

Smith has been employed by Center Street Securities since 5/2016. He was with Titan Securities from 8/2011-6/2016 and with Newbridge Securities 6/2010-8/2011. Smith discloses a business relationship with Bering Financial in Arlington, TX.

If you have losses in an account in an account handled by Thomas P. Smithcontact us to discuss how you may be able to recover damages for those losses.

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

Gerald Cocuzzo-Former Newbridge Securities Broker-Sentenced to 18 Months for Securities Fraud-Boca Raton,FL

Boca Raton, FL

July 2017 UPDATEGerald Cocuzzo was sentenced to 18 months in prison after pleading guilty to securities fraud for his participation in the manipulation of Forcefield Energy, Inc. (FNRG) , a publicly traded company. Link to Department of Justice press release.

MAY 2017 UPDATEGerald Cocuzzo’s FINRA record discloses 2 pending arbitrations:

  • FINRA case # 16-01684-a customer of Newbridge Securities alleges that Cocuzzo overconcentrated their account, breached his fiduciary duty and violated California securities laws. No specific damages are stated.
  • FINRA case# 16-3501 seeks damages of $52,000 and alleges that the investment in Forcefield Energy Corp was fraudulent.

ORIGINAL POST-November 2016- 

The US Attorney’s Office announced that former Newbridge Securities stock broker Gerald Cocuzzo, pleaded guilty to securities fraud in connection with the fraudulent marketing of ForceField Energy, a publicly traded company with the symbol FNRG.

According to the release between 2009-2015, Cocuzzo and others manipulated the price of ForceField a purported worldwide distributor of LED lighting products causing losses of $131,000,000.

Cocuzzo faces up to 20 years in prison.

See this for more information on Gerald Cocuzzo. 

Cocuzzo was employed by Newbridge Securities from 12/2014-5/2016 and prior to that was employed by IAA Financial from 9/2009/1/2015.

If you suffered losses due to recommendations by Gerald Cocuzzo to purchase risky investments, including Forcefield Energy (FNRG), contact us to learn how you may be able to collect damages from the brokerage firm that employed Cocuzzo.

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

William K. Bradley-Former Newbridge Securities Broker-Discloses Customer Dispute & Termination

August 2016- New York

The FINRA records of  William K. Bradley,  a  stock broker who is currently employed by Meyers Associates,  disclose  a currently pending customer dispute and a prior 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 currently pending FINRA arbitration 16-0441, a customer of Bradley’s former employer HFP Capital Markets, alleges damages of $30,236 for unsuitable investments.

In 12/2011, Bradley was discharged by HFP Capital Markets who made the following statement on Bradley’s FINRA record: “William Bradley was discharged due to the fact that he, by his own admission, was caught selling proprietary assets of the firm without authorization. When Mr. Bradley was approached  by the branch office manager and a second broker he admitted to selling leads to a person outside the firm.”

 

Bradley’s prior employment history includes:

  • Meyers Associates                       since 3/2016
  • Newbridge Securities                  11/2015-3/2016
  • Craig Scott Capital                       2/2012-12/2015

He also worked for Brookstone Securities and HFP Capital Markets. Both firms have been expelled by FINRA.

If you have losses in an account handled or supervised by William K. Bradley you may be able 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