Category Archives: Misrepresentation

Brandon Long-Former BCG Securities Broker-Discloses Customer Suits & Regulatory Actions-Roswell, GA

February  2019 – Roswell, GA

According to public records of Brandon P. Long (CRD#5975459)  a  stockbroker previously employed by BCG Securities,  Inc., discloses a regulatory event, a civil event, 3 customer dispute settlements and a 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 October of 2017, Long was permanently barred from the securities industry to resolve regulatory allegations that he made misrepresentations and induced federal employees to rollover their federal retirement accounts into annuities which resulted in losses for the customers. According to the allegations commissions of $1.7 million were earned on the sale of some $40 million in annuities. 

Long was employed by BCG Securities from 12/2014-4/2017. Prior to that he was with LPL Financial until 12/2014 when he was discharged for concerns regarding communications with a customer. Long also discloses a business affiliation with Keystone Wealth Management and Keystone Capital Partners & Federal Employee Retirement Counselors in Alpharetta, GA. 

If you have questions about an account handled by  Brandon P. Long, contact us for a no charge consultation to learn how you may be able to recover damages from his 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

Mark Tauzin-Former LPL Financial Broker-Discloses Regulatory Event, Customer Dispute & Termination-Lafayette, LA

February 2019- Lafayette, LA

According to publicly available records Mark Tauzin   (CRD#1716373) ,  a  currently unregistered stockbroker who was last  registered with LPL Financial disclose a regulatory event , a prior customer dispute and a 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 10/2016 Tauzin consented  to FINRA sanctions and to the entry of findings that he engaged in a pattern of unsuitable short-term trading of front-loaded Unit Investments Trusts (UITs) in  accounts of households that were customers of his member firm.  Tauzin had no reasonable basis to believe the short-term trading of these front products was suitable for the customers according to FINRA.   The finding stated that Tauzin also maintained blank forms signed by customers relating to accounts for several households.  The forms included Automated Clearing House (ACH) authorization forms, margin agreements, account applications and switch disclosure forms.   With regards to certain households, completed switch disclosure forms.   With regards to certain households, completed switch disclosure forms were used for transactions that appeared identical to the signed, blank forms maintained in Tauzin’s files.  The maintenance of the blank forms violated the firm’s written supervisory procedures, document, regardless of client knowledge or consent.    Tauzin was suspended for  8 months  and  agreed to disgorge  $205,115, and pay a penalty of $20,000.

In August of 2015 an LPL Financial customer alleged unsuitability, misrepresentations and unauthorized trading in connection with her UIT investments.    The case settled for $750,000.

Tauzin was employed with LPL Financial from September 2009  to November 2014 when was discharged by LPL Financial after allegations that he f violated the firm’s document signature policy and concerns regarding short-term UIT Trading..  He previously was employed with Raymond James & Associates, Inc., Inc.

If you have questions about an investment account handled by Mark Tauzin, contact us for a no charge consultation to learn about 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

Cindy Chiellini-Centaurus Financial Broker-Subject of Numerous Customer Suits- Lexington, SC

February 2019 – Lexington, South Carolina

The FINRA records of  Cindy Lucille Porto Chiellini ,  a  stockbroker who is  employed by  Centaurus Financial  discloses 9 pending  and one prior 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 October 2018 a customer of Chiellini’s prior employer was paid $70,000 to resolve allegations that they were sold unsuitable investments from 2010-2016.

The pending customer complaints include:

  • FINRA case 18-4363-a former customer of J.P. Turner & Centaurus seeks damages of $500,000 and alleges Chiellini recommended unsuitable investments from 2014-2018.
  • Case 168-04082 -a former customer of J.P. Turner & Centaurus seeks damages of $336,160 and alleges Chiellini recommended unsuitable investments in real estate securities from 2012-2018.
  • FINRA case 18-3810-a former customer of J.P. Turner & Centaurus seeks damages of $100,000 and alleges Chiellini recommended unsuitable investments in real estate securities.
  • FINRA case 18-1848-a former customer (beneficiaries of a deceased client’s account)  of Summit Brokerage Services seeks damages of $100,000 and alleges Chiellini recommended unsuitable investments .

Chiellini , who is also known as Cindy Porto and Cindy Porto Chiellini, has been employed by Centaurus Financial since 5/2015, and discloses a business affiliation with Mantei & Associates in Lexington, SC.

If you have losses in an account in an account handled by Cindy Porto Chiellini  , contact us for a no charge consultation 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

Larry Breen-Former VSR Financial Broker-Subject of $100K Customer Suit-Lake Mary, FL

February 2019 – Lake Mary, FL

The FINRA records of  Lawrence “Larry”  Aloysius Breen III ,  a  stockbroker who was formerly  employed by  VSR Financial Services  discloses 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 7/2018, a customer of Breen’s former employer, VSR Financial Services, filed FINRA Case 18-2544, alleging  that Breen was negligent , made misrepresentations and omitted material facts in connection with a recommendation to purchase a real estate security. The customer seeks damages of $100,000.

Larry Breen was employed by VSR Financial Services from 9/2006-12/2015. He is currently employed by Centaurus Financial in Lake Mary, FL, and discloses an affiliation with Breen Financial Management in Heathrow, FL.

If you have losses in an account in an account handled by Larry Breen or another broker who was employed by VSR Financial Services , contact us for a no charge consultation to discuss how you may be able to recover damages for those losses.

VSR Financial Services Prior Problems With REITs 

VSR Financial Services was fined $550,000 by the Financial Industry Regulatory Authority (FINRA) in May 2013 in connection with the sale of alternative investments . In their findings, FINRA criticised VSR Financial for recommending high concentration levels of alternative investments in customer accounts and for its lack of supervision over the use of consolidated reports prepared by brokers and provided to customers.

Alternative investments include non publicly traded real estate investment trusts (REITS) , hedge funds, real estate, commodities and derivatives contracts and, managed futures. 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.

 VSR wound down operations at the end of 2016 and transferred most of their brokers and customer accounts to Summit Brokerage ServicesSee this for more information regarding VSR Financial Services.

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

Michael Venturino-Former Aegis Capital/Trident Partners Broker-Subject of $1.2M Customer Suit-Garden City, NY

January 2019- Garden City, NY

According to publicly available records Michael Christopher Venturino ,  a  stockbroker who is currently employed by Spartan Capital Securities and was formerly employed by Aegis Capital Corp. and Trident Partners, disclose a prior regulatory event, 3 pending customer disputes, 4 prior customer disputes and a recent Chapter 7 bankruptcy filing.

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 July 2018 Venturino was suspended indefinitely by FINRA for failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

In 11/2017 a former customer from his prior firm, Aegis Capital was paid $16,500 to resolve allegations that Venturino traded the account without permission from 11/2016-6/2017.

In 6/2017 a customer of Aegis Capital was paid $142,500 to resolve allegations that Venturino excessively traded the account and traded it without permission from 6/2014-1/2016.

The currently pending suits, by customers of Aegis Capital ,include:

  • FINRA Case 18-2948- alleges that Venturino churned their account and made unsuitable trades and seeks damages of $290,359
  • FINRA Case 18-408-alleges unauthorized trading by Venturino and unsuitable recommendations and seeks damages of $1,280,623.

Venturino discloses that he filed Chapter 7 bankruptcy in 1/2019 in the Federal Court for the Eastern District of New York.

Venturino has been employed by Spartan Capital since 4/2018.

If you have losses in an account handled by Michael Venturino, contact us for a no charge consultation to learn how you may be entitled 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