Kenneth Thomas & 3 Others Indicted in “Retire America” Fraud

November 17, 2014-Lexington, KY

The Lexington Herald-Leader reports that Kenneth Eugene Thomas, 65, has been indicted by a grand jury in Lexington County on charges of theft and fraudulent practices in connection with his company Retire America.

Also indicted were:

  • Shannon Kay Hunt
  • Phillips J. Ash
  • Roy Myers

At least 10 victims have been identified and losses are estimated to be in excess of $3.3 million.

If you lost money as a result of a recommendation by a stockbroker to invest in Retire America, you may be able to recover damages. Call to discuss your rights.

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors  in Kentucky and 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.

Rex Securities Law

561 391 1900

Raymond T. Clark Named in Complaint by Securities Regulator

November 24,2014

The Financial Industry Regulatory Authority (FINRA) filed a disciplinary complaint against Raymond T. Clark alleging:

  • that FINRA began investigating whether Clark executed excessive and/or unauthorized trades in customer accounts, exercised discretion without authority in customer accounts and accepted trade instructions from an individual who was not authorized to exercise trading authority in a customer account.
  • that FINRA requested that Clark appear for on-the-record testimony on several occassons
  • that Clark informed FINRA that he would not appear to provide testimony

The complaint seeks sanctions against Clark.

According to FINRA records, Clark was registered with Dynasty Capital Partners from 8/2010-8/2014 in Buffalo, NY. Prior to that he was registered with First Midwest Securities, Inc. 

If you suffered losses in an account which was handled by Raymond Clark contact us to learn how you may be able to recover damages.

Rex Securities Law , located in Boca Raton, FL, 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.

Rex Securities Law

561 391 1900

Former WFG Investments Broker Gregory Noble Sanctioned by FINRA

November 24, 2014- Dallas, TX

Gregory H. Noble entered into a letter of acceptance , waiver and consent with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he willfully responded inaccurately to questions on FINRA documents by stating that he had not been charged with or convicted of any felony.

According to the FINRA pleadings, Noble was charged with a felony in 2002, pled guilty and was sentenced to two years probation and a fine. By filing inaccurate and misleading documents in connection with his registration with FINRA, Noble violated FINRA and NASD rules and was suspended for six months and fined $5,000.

FINRA records indicate that Noble was registered with a Dallas branch of  WFG Investments from 1/2012-1/2013.

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

Former LPL Financial Broker Travis Wetzel Pleads Guilty

The US Attorney’s Office for the District of Maryland reported on November 18, 2014, that former LPL Financial broker Travis Wetzel, 35, of Frederick Maryland, pleaded guilty to wire fraud and money laundering.

According to the release, Wetzel took nearly $1.3 million from an annuity account of a customer without the knowledge or permission of the customer and used the money for personal expenses. Wenzel, who was indicted in May 2014, faces more than 30 years in prison. Sentencing is scheduled for February 23, 2015.

Rex Securities Law , located in Boca Raton, FL, 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.

Rex Securities Law

561 391 1900

Kentucky Securities Regulators (DFI) Warn of Affinity Fraud

November 24, 2014-Frankfort, KY

The Department of Financial Institutions (DFI) is an agency in the Public Protection Cabinet and for over 100 years has supervised the financial services business, including securities firms and stockbrokers operating in Kentucky.

The DFI issued a warning regarding Affinity Fraud in a press release stating that Ronnie Perry, of Lexington, pleaded guilty to securities fraud and will be sentenced on January 16, 2015. According to the DFI release, “Perry used his friendship with the victim in this case to develop trust that eventually led  to fraud being committed.”

The Securities & Exchange Commission defines Affinity Fraud this way: “Affinity fraud refers to investment scams that prey upon members of identifiable groups, such as religious or ethnic communities, the elderly, or professional groups. The fraudsters who promote affinity scams frequently are – or pretend to be – members of the group. They often enlist respected community or religious leaders from within the group to spread the word about the scheme by convincing those people that a fraudulent investment is legitimate and worthwhile. Many times, those leaders become unwitting victims of the fraudster’s ruse.”

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors in Kentucky and 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.

Rex Securities Law

561 391 1900