Category Archives: Unauthorized Trading

Gerald Eaton-Former Commonwealth Broker Barred from FINRA-Terminated After Allegations of Forgery-Waltham, MA

June 2020- Waltham, MA

The FINRA records of Gerald Allan Eaton  , a former stock broker who was last employed  by  Commonwealth Financial Network disclose a regulatory event resulting in his bar from the securities industry and a termination.

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 November 2019, Eaton was permanently barred from the securities industry by the FINRA  after allegations that Eaton failed to provide documents and information requested by FINRA in connection with its investigation into the reason for  his termination by Commonwealth.

Eaton worked for Commonwealth Financial Network from March of 1995 until October 2019, when he was discharged by Commonwealth who alleged that he had committed forgery and wrongfully taken property.

If you have problems in an account  handled by Gerald Allan Eaton  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

James Booth-Former LPL Financial Broker-Barred from Industry-Subject of Multiple Theft Claims-Norwalk, CT

June 2020- Norwalk, CT

According to publicly available records, former LPL Financial financial advisor James T. Booth,  has been barred from the securities industry by FINRA. He  discloses 3 regulatory events, a pending criminal charge,  a pending civil event, 21 settled and 15 pending 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.

In  2019 FINRA (FINRA case 2019062787101) and United States Securities and Exchange Commission (case #3-19596) permanently barred Booth from the securities industry to resolve allegations that he converted funds, totaling at least approximately $1,000,000 that multiple customers of his gave him to invest on their behalf, he however, deposited the funds into an account he controlled and used them for his own personal use.

In February 2020 the State of Connecticut filed case #CDFR-20-8535 alleging that Booth had violated the anti-fraud provisions of the Connecticut Uniform Securities Act and engaged in dishonest or unethical practices.    More specifically, Booth allegedly used investor funds for his personal expenses and that he fabricated client account statements to reflect investments that were, in fact, never made.   Booth allegedly misappropriated approximately $5 million in investor funds.

In September 2019 formal charges were brought against Booth in Federal Court in the U.S. District for the Southern District of New York  of 1 felony count of securities fraud, one felony count of investment advisor fraud and one felony count of wire fraud.   Booth pleaded guilty to one count of securities fraud.   The criminal case is still pending.

In September 2019 the United States Securities and Exchange commission filed civil charges in the United States District Court for the District of Connecticut alleging that Booth conducted a multi- year scheme that defrauded approximately 40 investors of nearly $4 million.   Many of Booth’s clients and customers were unsophisticated investors, including seniors who utilized Booth’s services for their retirement savings.   In furtherance of the scheme, Booth fabricated elaborate account statements, which were provided to the investors.   The fabricated account statements reflected various ownership positions, transactions and earnings, all to create the false appearance that the investors’ money had been invested as promised; some statements even included fictitious securities and values.   When investors requested withdrawals, Booth routinely used assets fraudulently acquired from other investors to cover those withdrawals.   Relief sought in this case are civil and administrative penalties and fines, disgorgement, injunction and monetary penalties and other fines.  This case is pending.

In 2019, 10 of Booth’s customers of LPL Financial and Invest Financial Corporation settled customer disputes in the collective amount of over $2,266,000.

From July 2019 until December 2019 there were 22 customer disputes filed alleging among other things that Booth misappropriated funds by depositing customers funds into an account for an entity which he controlled, that Booth converted their funds to support a Ponzi scheme using multiple shell companies and misconduct.    Many of these cases are all still pending.

Booth  was employed by LPL Financial  from February 2018  until June 2019  when he was discharged.   Before that Booth was employed with Invest Financial Corporation  and with Cadaret, Grant & Co..

If you have losses in an account handled by James Booth 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

Daniel Staudacher-Worth Financial Group Broker-Discloses 2 Regulatory Events, a Customer Dispute and 6 Tax Liens-Dallas, TX

June 2020- Dallas, TX

The FINRA records of Daniel W. Staudacher, a broker currently registered with Worth Financial Group, disclose 2 regulatory events, a customer dispute and 6 pending IRS liens.

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 September 2019 FINRA case #2017053574801  was filed, alleging that Staudacher associated with his member firm while under a one-month, all capacities suspension from associating with any member firm.    He associated with the firm while subject to a statutory disqualification that resulted from his FINRA suspension.    The findings also stated that to accommodate his clients, Staudacher electronically affixed customer’s signatures on new securities account applications by entering the last four digits of the customers’ social securities numbers on the applications.    He was suspended from FINRA for two months and was given a monetary fine of $10,000.

In January 2017, FINRA case #2016048603001 was filed alleging that Staudacher executed unauthorized transactions in two different customer accounts.   The finding stated that with respect to one of the customers, Staudacher did not contact her and obtain her authorization prior to executing the transactions in her accounts.  After these customers complained, Staudacher’s member firm reversed these transactions in their accounts and made them whole.   Staudacher’s firm imposed a total of $10,000 in monetary sanctions as a result of his unauthorized trading.  FINRA imposed a one month suspension and a $5,000 fine.

In December 2015, a customer of Staudacher’s prior employer, PFS Investments, Inc., alleged that unauthorized transactions were made in her accounts.    The case was settled.

between August 2011 and January 2018 the IRS filed 6 tax liens against Staudacher . These liens, which total more than $350,000, are still pending.

Staudacher has been employed with Worth Financial Group, Inc.  since September of 2017.    Before that he worked with PFS Investment, Inc. and Primerica Financial Services.   

If you have questions about an account  handled by Daniel Staudacher 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

Craig A. Foreman-Edward Jones Broker-Discloses Pending Customer Dispute-Odessa, TX

June 2020 -Odessa, TX

The FINRA records of Craig Alan Foreman  , a stockbroker registered with Edward Jones disclose 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 8/2019 a customer of Edward Jones filed a complaint alleging that his son impersonated him in a phone call with the office administrator and the financial advisor.  A fraudulently signed withdrawal was faxed to the branch and funds were distributed to a bank account without the Claimant’s authorization.   Claimant alleges Edward Jones failed to take adequate steps to protect his assets and, in doing so, breached its fiduciary duty and acted negligently.   The alleged damages are $845,000 and the case is pending.

Foreman has been employed with Edward Jones since Edward Jones since 6/2014.

If you have questions about an account handled by Craig Foreman call for a no charge consultation with an experienced securities attorney.

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

Daniel Rebmann-UBS Broker-Discloses Customer Disputes-San Antonio, TX

June 2020- San Antonio, TX

The FINRA records of Daniel Rebmann, a broker currently employed  by UBS Financial Servicesdisclose two 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 March of 2016 FINRA case 16-00648 was filed by a customer  UBS Financial Services  alleging that structured products were purchased in their accounts without authorization.     This case settled for $25,000.

In February 2014 a customer of  Merrill Lynch, Rebmann’s previous employer, filed FINRA case 14-00517 alleging unsuitable investment recommendations and misrepresentation and omission of material facts.   The case settled for $35,000.

Rebmann has been employed with UBS Financial Services since March of 2011.   Before that time he was with Merrill Lynch, Pierce, Fenner & Smith. If you have questions about an account  handled by Daniel Rebmann ,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