Category Archives: Finra Investigation of Stockbroker

Ricky Moore-Sagepoint Financial Broker-Discloses Regulatory Matter- Angleton, Texas

Angleton, TX

December 31, 2015

The Financial Industry Regulatory Authority  (FINRA) filed a complaint against stockbroker Ricky Randon Moore, alleging that while working for Commonwealth Financial Network in Angleton, Texas, he failed to disclose to the firm his outside business activities involving the facilitation of a church bond offering for a church located in Brazoria, TX, in violation of FINRA and NASD Rules.

The complaint seeks monetary sanctions and other relief.

FINRA Disciplinary Proceeding #2013038770901

According to FINRA records, Moore was registered with Commonwealth from 2/2009-10/2013. Thereafter he was registered with Securities America 10/2013-12/2013 and with Sagepoint Financial since 12/2013.

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

Larry M. Crabtree-Former WFG Broker Sanctioned by Securities Regulators- Dallas, TX

December 30 , 2015-Dallas, Texas

Larry Michael Crabtree entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that while associated with WFG Investments as a registered representative, he engaged in unsuitable trading in the IRA account of a customer and improperly exercised discretion in that account without written authorization to do so.

In addition, FINRA alleged that Crabtree sent inappropriate and unapproved communications to two customers. This conduct, as well as Crabtree’s failure to accurately record his customer’s financial information on a new account form, caused WFG Investments to maintain inaccurate books and records in contravention of Section 17(a) ofthe Securities Exchange Act of 1934.

AWC No.  2013038710501

Crabtree was suspended for six months from association with any FINRA member firm.

FINRA records indicate that Crabtree was registered with WFG Investments (Williams Financial Group)  in Edmond, OK, from 7/2008-2/2014. He has been registered with Wilbanks Securities since 3/2014.

WFG Investments, a subsidiary of Williams Finanical Group is headquartered in Dallas, Texas

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

Securities Regulators Sanction Ameriprise Broker in Plano, TX

December 29 , 2015-Plano, Texas

David Lowenthal entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that while associated with Ameriprise as a registered representative, he personally invested $10,000 in preferred shares issued by a biopharmaceutical company, without first providing notice to the firm.

According to FINRA, Lowenthal violated NASD Rule 3040(b) and FINRA Rule 2010 by entering into a private securities transaction without providing prior written notice to the Firm regarding his personal investment.

AWC No.  2012033291202

Lowenthal was fined $7,500 and suspended for 10 business days from association with any FINRA member in any capacity.

FINRA records indicate that Lowenthal has been registered with Ameriprise Financial Services in Plano, Texas since 2/2009.

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

Fischer, Texas- Caldwell International Securities Named in Complaint by Securities Regulator

December 31, 2015- Fischer, Texas

On December 31, 2015, the Financial Industry Regulatory Authority  (FINRA) filed a complaint against Caldwell International Securities alleging that firm founder Greg Caldwell and supervisors Paul Jacobs and Lennie Freiman failed to supervise brokers in New York and New Jersey allowing them to churn customer accounts.

According to FINRA:

  • Caldwell International and the named individuals put profits before customers, growth before compliance and subterfuge before transparency creating a culture of non-compliance in the firm
  • From 12/1/2010-7/31/2014 Caldwell International allowed many of its brokers to recommend an unsuitable active trading strategy that the brokers did not understand causing significant losses to customers while the company generated substantial profits.
  • Caldwell International was aware of virtually all of the alleged misconduct, yet took no meaningful steps to curtail and supervise it for fear reducing the commissions and fees which it was generating.
  • Fifteen customer accounts lost over $1.1 million while paying over $1 million in commissions.

Others named in the complaint are:

  • Alain Florestan
  • Alex Etter
  • Lucas Lichtman
  • Richard Lim
  • Richard Lee

The complaint seeks findings that the company violated Section 10(b) of the Exchange Act, disgorgement of ill gotten gains and other relief.

Caldwell International has nine branches and 20 brokers located in New York, New Jersey, Illinois, Texas, Florida and Nevada. Fischer, Texas is located just north of San Antonio, TX, near Canyon Lake.

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

Betsy Marcom-NEXT Financial Group Broker Fined/Suspended for Unsuitable Recommendation to Church-Georgetown, TX

November 19, 2015-Georgetown, Texas

Betsy Marcom (formerly Betsy Bratton Perryman) , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that between June 1, 2009 and August 31, 2012, she made unsuitable investment recommendations to her client, a non-profit parish church.

In addition, FINRA alleges that Marcom , who was a member of the finance council for the church, recommended that they invest almost its entire portfolio in non-investment grade corporate bonds, resulting in an unsuitable concentration in such bonds, in violation of various NASD and FINRA rules.

“Investment Grade” is defined as a credit rating denoting only minimal risk for investors, and encompasses bonds rated BBB and above. Bonds that are rated BB. B, CCC, CC, C, and below are considered non-investment grade, or “junk” bonds. They are also frequently referred to as “high-yield” bonds.

AWC No.  2013037257201

Marcom was fined $15,000 and suspended from association with any FINRA member firm in all capacities for a period of four months.

According to FINRA recordsMarcom  was registered with NEXT Financial Group  from 2/2009-11-2015. Prior to that she was registered with Investment Professionals, Inc. from 5/1995-1/2009.

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