Category Archives: Selling Away

Failure to Supervise, Selling Away, Stockbroker Malpractice, StockBroker Misconduct, Woodbury Financial Services

Daryl Serizawa-Woodbury Financial Broker- Discloses $350K Customer Dispute-Irvine, CA

October 2020- Irvine, CA

According to publicly available records, Daryl Tomobu Serizawa, a Woodbury Financial Services, Inc.  broker 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 December of 2019,  a customer of Woodbury Financial Services, Inc.  filed FINRA case #19-03595 alleging inappropriate sale of private investment funds and is seeking damages of $350,000.   The case is currently pending.

Serizawa has been employed with Woodbury Financial Services, Inc. since August of 2017.   Before that time he was employed with Independent Financial Group, Pacific West Securities, Inc. and Linsco Private Ledger.

If you have losses in an account handled by Daryl Serizawa, call 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

Foresters Equity Services, Metlife Securities, Outside Business Activities, Princor Financial Services, Selling Away, StockBroker Misconduct, Unsuitable Investments

Michael Rappa-Former Foresters Equity Services Broker Barred from FINRA-Discloses Regulatory Event and Two Pending Customer Disputes-Rocklin, CA

June 2020- San Diego, CA

The FINRA records of Michael Rappa, a broker previously employed  by  Foresters Equity Services,  , disclose  a regulatory event resulting in his bar from the securities industry and two pending 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 February 2019, Rappa was permanently barred from the securities industry by the Securities and Exchange Commission after allegations that he engaged in undisclosed and unapproved private securities transactions.  The findings stated that Rappa solicited investors to purchase promissory notes relating to a purported real estate investment fund.   Rappa sold $2,731,287 in the fund’s notes to investors, some of whom were customers from his member firm and he received a total of $109,939 in commissions in connection with these transactions.   Later the fund filed a voluntary Chapter 11 bankruptcy petition.

In March 2018,  a customer of Foresters Equity Services, Inc., filed FINRA case 18-1103 alleging that Rappa made unsuitable private securities transaction recommendations and is seeking damages of $75,000.   This case is still pending.

In February 2018, a customer of Foresters Equity Services, Inc., filed FINRA case 18-552 alleging that Rappa made unsuitable private securities transaction recommendations and seeks damages of $700,000.  The case is pending.

From March 2018 until February 2019,  Rappa was employed by LifePro Asset Management.    He was employed with Foresters Equity Services, Inc.  from September of 2010 until July of 2017.  Before that he worked with Princor Financial Services Corporation, Metlife Securities, Inc.  and Metropolitan Life Insurance Company.    

If you have problems in an account  handled by Michael Rappa call for a no charge consultation .

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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Failure to Supervise, LPL Financial, Merrill Lynch, Selling Away, Stockbroker Malpractice, StockBroker Misconduct, Unsuitable Investments

Joseph A Likens-former LPL Financial Advisor-Discloses 15 Customer Disputes-Des Peres, MO

January 2020-Des Peres, MO

According to publicly available records of Joseph Alan Likens (CRD#3084903) ,  a  former stockbroker who previously worked for LPL FInancial discloses 2 regulatory events, 15 customer disputes, a termination from employment and a financial 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 12/2017 FINRA permanently barred Likens from the securities industry to resolve allegations that he engaged in dishonest and unethical practices.

Liken’s official FINRA record discloses 13 prior settlements with customers of his prior employer Merrill Lynch. All of the claims allege that customers were sold non firm approved promissory notes. Total settlements exceed $1.3 million.

Likens was employed by LPL FInancial from 1/2015-5/2015. Prior to that he was employed by Merrill Lynch from 4/2009-1/2015.

If you had an account with Joseph Likens that suffered losses, you may be entitled to collect damages from his prior employer. Call 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

Broker Discloses Criminal Event, Comprehensive Asset Management & Servicing, Department of Justice, Failure to Supervise, FINRA, Fortune Financial Services, Fraud, Selling Away, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct, Theft, Unregistered Securities

Michael Giokas-Former Fortune Financial Services-Broker-Pleads Guilty to Fraud-Williamsville, NY

September 2019- Williamsville, NY

According to publicly available records  Michael Giokas (CRD# 1398674) ,  a  former stockbroker who was last  employed by Fortune Financial Services, Inc.,  disclose  2 prior regulatory events, a felony fraud criminal charge , 3 pending and 7 prior customer disputes 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.  

According to a Department of Justice news release, in April 2018 Michael Giokas, 58, of Clarence, NY, pleaded guilty to wire fraud for defrauding numerous clients of hundreds of thousands of dollars. He faces up to 20 years in prison on the charges.

According to the release, between 5/2017-10/2017, he persuaded clients to withdraw money from their  accounts at Nationwide Mutual and invest in a company called Trinity Council, with a promise to earn 8-9% annually. Trinity Council was a shell company with no real business, set up to accomplish the fraud.

Settlements totaling several hundred thousands have been paid out to customers already. Pending customer claims exceed $1 million.

Giokas was employed with Fortune Financial Services, Inc. from 2/2013 until 10/2017.    Prior to that he was employed by Comprehensive Asset Management and Servicing, Inc., from March 2002 until February 2013.    Giokas discloses  business affiliations with Giokas Wealth Advisors and Giokas Financial Services in Williamsville, NY.

If you have losses in an account handled by Michael Giokas, 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

Failure to Cooperate with Regulatory Investigation, Finra Investigation of Stockbroker, Raymond James, Selling Away, Stockbroker Discharged, Stockbroker Malpractice, Unregistered Securities

Mark Tudor-Fired by Raymond James-Barred From Securities Industry-Lake Mary, FL

May 2019, Lake Mary, Florida

According to publicly available records Mark Andrew Tudor  ,  a  former stockbroker who last worked for Raymond James Financial  ,  disclose a recent regulatory event barring him from the securities industry, 3 prior customer disputes, and a discharge 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 March 2019 FINRA permanently barred Mark Tudor from the securities industry to resolve allegations that he failed to respond to a request for information in connection with a FINRA investigation.

In December 2018 a customer of Raymond James was paid $40,000 to resolve FINRA arbitration 18-03428 alleging that Tudor had recommended a private securities transaction without the approval or knowledge of the firm.

Tudor, who is owner of Tudor Wealth Management,  was employed by Raymond James from 2/2013 until 10/201 when he was discharged for introducing clients to investments away from the firm without approval and for not being helpful when interviewed by Raymond James counsel.

If you have losses in an account handled by Mark Tudor, call to discuss you options for recovery of damages.

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