Alan New-Former NY Life Broker-Subject of Multiple Suits Over Woodbridge Investments-Fort Wayne, IN

September 2018- Fort Wayne, Indiana

The FINRA records of  Alan Harold New ,  a  former stock broker who is not currently registered and who was last employed by NYLife Securities  disclose  10 pending customer disputes involving the allegedly fraudulent Woodbridge Mortgage Investment Funds and Future Income Payments (FIP).

Total damages sought by these customers exceed $3 million.

Allegations by the customers include false representations by New  that the investments were safe, secure and low risk.

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.

Woodbridge-A $1.2 billion Ponzi According to SEC

The U.S. Securities and Exchange Commission announced charges and an asset freeze against a group of unregistered funds and their owner who allegedly bilked thousands of retail investors, many of them seniors, in a $1.2 billion Ponzi scheme.

According to the SEC’s complaint, unsealed in federal court in Miami, Florida, Robert H. Shapiro and a group of unregistered investment companies called the Woodbridge Group of Companies LLC, formerly headquartered in Boca Raton, Florida, defrauded more than 8,400 investors in unregistered Woodbridge funds.

“We allege that through aggressive tactics, Woodbridge and Shapiro swindled seniors into a business model built on lies, which the SEC’s Miami Regional Office staff moved to halt,” said Stephanie Avakian, Co-Director of the SEC’s Enforcement Division.

“Our complaint alleges that Woodbridge’s business model was a sham,” said Steven Peikin, Co-Director of the SEC’s Enforcement Division. “The only way Woodbridge was able to pay investors their dividends and interest payments was through the constant infusion of new investor money.”

“Our complaint further alleges that Shapiro used a web of layered companies to conceal his ownership interest in the purported third-party borrowers,” said Eric I. Bustillo, Director of the SEC’s Miami Regional Office.  “Shapiro used the scheme to line his pockets with millions of investor dollars.”

New was employed by NYLife Securities  from 6/2004-8/2016 and discloses an affiliation with Synergy Financial Group and Synergy Investment Services, both of which are located in Fort Wayne.

If you have losses in an account handled by Alan New call for a no charge consultation to learn about your options for recovery of damages from NYLife Securities.

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

Brian Hussey-Former Ameriprise Broker-Suspended Over Marijuana Penny Stocks-Tampa, FL

September 2018-Tampa, FL

The FINRA records of  Brian John Hussey, Jr. ,  a  stockbroker who was formerly employed by Ameriprise Financial Services disclose a recent regulatory event resulting in a suspension and a prior 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 May 2018 Hussey was suspended for seven months by FINRA to resolve allegations that he made unsuitable recommendations and mismarked transactions regarding penny stocks and failed to provide notice of de facto discretionary trading at a third party firm. According to the FINRA proceeding Hussey recommended to oa customer that she sell 100 percent of the mutual fund positions in her IRA account and invest the proceeds in penny stocks focussed on the marijuana business.

Solicitation of penny stocks violated his firm’s policy prohibiting soliciting penny stocks. Hussey attempted to conceal his actions by mismarking the the trades as being unsolicited.

The customer brought a claim against the firm and was paid $67,019 in settlement thereof.

Hussey was employed by Ameriprise from  2/2008-6/2018.

If you have losses in an account in an account handled by Brian Hussey , contact us for a no charge consultation to discuss how you may be able to recover damages for those losses 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

Greg O’Brien-Former Aegis Capital Broker-Subject of $500K Customer Suit-Boca Raton, FL

September 2018-Boca Raton, FL

The FINRA records of  Gregory Spencer O’Brien,  a  stockbroker who was formerly employed by Aegis Capital Corp. disclose a pending customer dispute and 2 prior final 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 2/2018 a customer of Aegis Capital filed FINRA arbitration 18-402 alleging that from 101/2013 to the present O’Brien made unsuitable investment recommendations and breached his fiduciary duty in connection with investments in equities, real estate securities and unit investment trusts. The customer seeks damages of $500,000.

O’Brien was employed by Aegis Capital from  11/2013 until 9/2018. He is currently employed by PHX Financial, Inc. O’Brien also discloses a business affiliation with CNA Finders, Holly Springs, N. Carolina.

If you have losses in an account in an account handled by Greg O’Brien , contact us for a no charge consultation to discuss how you may be able to recover damages for those losses 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

Matthew Singer- Former Morgan Stanley Broker-Customer Suits Over Option Investments- Aventura, FL

August 2018 – Aventura, FL

The FINRA records of  Matthew Singer,  a  broker previously employed by Morgan Stanley Smith Barney disclose 3 prior customer disputes and a 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 March of 2018,  without admitting or denying the findings, Singer consented to sanctions and entry of findings that he refused to appear for FINRA on-the-record testimony in connection with its investigation into whether Singer made unsuitable options recommendations to customers.   In March of 2018, Singer was permanently barred from the securities industry.

In December of 2016,  a client of Morgan Stanley Smith Barney,  filed FINRA Case 16-1063 and alleged unauthorized trading and misrepresentation with respect option investments from May 2015 to January 2016.    The case settled for $60,000.

In October of 2015, a client of Morgan Stanley Smith Barney, filed FINRA case 15-2767 alleging  that  Singer recommended investments were recommended that were not suitable for their level of risk.   The case was settled for $365,000.

If you have losses in an account  handled by Matthew Singer , contact us for a no charge consultation 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

Bruce Zipper-Former Dakota Securities Broker-Discloses Customer Suit/Regulatory Issues-Miami, FL

August 2018- Miami, FL

Bruce M. Zipper, a stockbroker who is not currently registered and was last employed in the securities industry by Dakota Securities International discloses  6 prior regulatory events, a prior customer dispute, a pending investigation, a termination from employment and 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.

Zipper was suspended for three months by FINRA for failing to update regulatory records relating to unsatisfied liens and judgments.

In FINRA Case 14-3006 a customer of Dakota Securities alleged that Zipper recommended unsuitable securities. The case was settled for $50,000.

Bruce Zipper worked for Dakota Securities from 2/2005 until 10/2017 when Dakota permitted him to resign.

If you have questions about an account handled by Bruce Zipper,  contact us for a no charge consultation 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

Nationwide representation of victims of stockbroker fraud and the malpractice of investment professionals.

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