Category Archives: FInancial Exploitation of the Elderly

Broker Discloses Criminal Event, Discretionary Trading, Elder Financial Abuse, Failure to Supervise, FInancial Exploitation of the Elderly, Finra Investigation of Stockbroker, Metlife Securities, Misrepresentation, Newbridge Securities Corp., Stockbroker Discharged, Stockbroker Malpractice, Theft, Unauthorized Trading, Wells Fargo

Brian Berger-Former Newbridge Securities Broker-Sentenced for Fraud-Boca Raton, FL

April 2018-Boca Raton, FL

The FINRA records of former stockbroker Brian M. Berger disclose a pending regulatory matter and two prior regulatory matters, a criminal conviction, 4 customer disputes and a termination from employment.

In 7/2015 Berger  entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he failed to cooperate with a FINRA investigation into allegations that he had misappropriated funds from elderly customers while registered with Wells Fargo Advisors and MetLife Securities.As a result, Berger   was  barred from the securities industry.

There is an SEC administrative proceeding pending in connection with the misappropriation of funds.

In 2/2017, in the U.S. District Court for the Southern District of Florida in Miami, Berger pleaded guilty to wire fraud and was sentenced to 18 months and ordered to pay restitution of $372,643.

Over $300,000 has been paid in settlements to former customers of Berger.

According to FINRA records, Berger was registered with Wells Fargo Advisors in Boca Raton from 7.2010-7/2014 and with MetLife Securities from 7/2014-4/2015. After that he was briefly registered with Newbridge Securities from 4/2015-6/2015.

If you have questions about an account handled by Brian Berger, call for a no charge consultation 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

Affinity Fraud, FInancial Exploitation of the Elderly, Fraud, Misrepresentation, New England Securities, Stockbroker Discharged, Stockbroker Malpractice, Unregistered Brokers, Unregistered Securities, Unsuitable Investments

Greg Smith/Pastor Kirbyjon Caldwell Indicted On Chinese Bond Scam-Shreveport,LA-Houston,TX

April 2018-Shreveport, LA

Shreveport resident Gregory Alan Smith, 55, and Kirbyjon H. Caldwell, 64, of Houston, TX, were indicted by a federal grand jury in a 13 count indictment for allegedly bilking unsuspecting investors out of over a million dollars.

Smith is operator of Smith Financial Group at 7330 Fern Ave., in Shreveport and Caldwell is Senior Pastor of Windsor Village United Methodist Church in Houston. The church is reportedly one of the largest Protestant churches in the U.S. According to Click2Houston Pastor Caldwell gained national notoriety when President George W. Bush made him his spiritual advisor.

Investors were lured to invest in allegedly worthless Historical Chinese bonds issued by the former Republic of China prior to losing power in 1949 and are not recognized by China’s current government.

According to FINRA records, Gregory A. Smith was a licensed broker who worked for New England Securities from 12/1999-7/2010. Smith was discharged by New England Securities in 7/2010 for failing to follow company policy with respect to outside business activities. In 2012, FINRA permanently barred Smith from associating with any FINRA member in any capacity, in part for commingling investor funds in his business account and for misappropriating investor funds.

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.

Smith and Caldwell are charged with  wire fraud and money laundering and face decades in prison if convicted.

SEC complaint vs. Gregory A. Smith and Kirbyjon Caldwell.

If you are a victim of this apparent scam, call for a no charge consultation 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

Elder Financial Abuse, FInancial Exploitation of the Elderly

Beware of Grandparent Scam-Columbiana, Alabama

March 2018-Columbiana, Alabama

The Alabaster Reporter reports that the Alabaster Police Department is warning elderly local residents to beware of ascam targeting senior citizens.

According to the police a local citizen received a call from someone claiming to be his teenage grandson who claimed to have been arrested at school and in need of a large sum of money for bail. The caller asked for financial information which the citizen, fortunately, did not provide. The police report that the caller used the correct name of the grandson.

There are lots of unscrupulous individuals in this world who are inclined to prey upon vulnerable senior citizens. Make sure you know who you are speaking with before divulging any financial information.

More information on the grandparent scam on AARP website.

Link to Alabaster Police Facebook page.

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

Nationwide-Toll Free: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870