Category Archives: Unauthorized Trading

Benjamin & Jerold Brokerage, Failure to Supervise, Misrepresentation, StockBroker Misconduct, Unauthorized Trading, Unsuitable Investments, Worden Capital Management

Joey Gebron- Worden Capital Broker- Discloses Customer Disputes – New York, NY

October 2019, New York, NY

According to publicly available records Joseph Omar  “Joey”Gebron  (CRD#2764264) ,  a  stockbroker who is currently registered  with Worden Capital Management  ,  discloses 7 prior customer disputes, one pending 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 the currently pending matter, a customer of Mercer Capital is seeking $820,000 and alleges unauthorized trading, misrepresentation and omissions in connection with the sale of a private placement.

In September 2012,  a Mercer Capital, Ltd.  customer filed FINRA case 12-03062 alleging  misrepresentation, negligence and breach of contract.   The case settled for $20,000 with the entire sum paid individually by Gebron.

In February  2012, a customer of National Securities Corporation, filed FINRA case #12-00449 alleging negligence, breach of fiduciary duty and breach of contract.   The case settled for $47,500 with an individual contribution from Gebron in the amount of $20,000.

In May 2011, a customer of Mercer Capital, Ltd. filed FINRA case #11-02216 alleging unsuitable recommendations, violation of common law fraud, breach of fiduciary duty and negligence.   THe case settled for $45,000 with the entire sum paid individually by Gebron.

In January 2010, a customer of Mercer Capital, Ltd., filed FINRA case #10-00059 alleging misrepresentation, omission of material fact and negligence.   The case settled for $9,500 entirely paid by Gebron.

In November 2009, a customer of Mercer Capital, Ltd.,  filed FINRA case #09-06536 alleging suitability, negligence, gross negligence and breach of fiduciary duty.    The case settled for $50,000 with $25,000 paid individually by Gebron.

In May 2008, a Mercer Capital, Ltd. customer filed FINRA case $08-01285 alleging sales practice.   The case settled for $7,000 paid entirely by Gebron.

Joseph Gebron has been employed by Worden Capital Management since August 2017.   He was previously employed with Benjamin & Jerold Brokerage  from September 2016 until August  2017.  Before that he was with Meyers Associates  and National Securities Corp.  Gebron discloses business affiliations with Open Field Consulting Group.  

If you have questions about an investment account handled by Jospeh Omar Gebron  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

Birkelbach Investment Securities, Broker Discloses Personal Bankruptcy, Churning, Failure to Supervise, FINRA, Forest Securities, StockBroker Misconduct, Unauthorized Trading, Unsuitable Investments

Jack D. Stone-Former Forest Securities Broker-Discloses Customer Disputes & Regulatory Issues-Hillside, IL

September 2019 – Hillside, IL

The FINRA records of Jack David Stone  , a former stockbroker who was last employed by  Forest Securities, Inc. , disclose 4 regulatory events, 1 pending customer dispute, 2 prior customer disputes, a termination from employment and a bankruptcy.

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 9/2019, FINRA  without admitting or denying the findings,  Stone consented to the sanction and to the entry of findings that he refused to appear for  FINRA on-the-record testimony in connection with an investigation into his securities activities while at his member firm, including possible misrepresentations to customers, use of discretion and unauthorized transactions.  Stone was permanently barred from the securities industry by FINRA.

In 1/2013 a customer of his prior employer Birkelbach Investment Securities was paid $100,000 to resolve allegations that Stone made unsuitable investments and churned the customer’s account. FINRA Case 11-822,

In pending FINRA case 17-2211 a customer of Forest Securities alleges that Stone churned the account, committed fraud and made unauthorized trades in the account. Damages are not specified.

In 5/2000 Stone was permitted to resign from Schwab Capital Markets following being barred from New York Stock Exchange membership for three years.

Stone discloses a pending Chapter 7 bankruptcy in the Bankruptcy Court for the Northern District of Illinois.

Stone was employed by Forest Securities from 4/2012-8/2019.

If you have problems in an account  handled by Jack D. Stone  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

Broker Discloses Criminal Event, Cherry Picking, Failure to Supervise, FCG Advisors, Fraud, Market Manipulation, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct, Unauthorized Trading

Michael Bressman-Former FCG Advisors Broker- Pleads Guilty to Investment Advisor Fraud-Chatham, NJ

September 2019- Chatham, NJ

According to publicly available records  Michael Bressman ,  a  currently unregistered stockbroker, who was last registered with FCG Advisors,  discloses a pending investigation, a pending civil event, a pending criminal event,  two prior regulatory events, a pending customer dispute, 4 prior customer disputes  and  terminations 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 9/2018 Bressman was charged with investment advisor fraud, a felony, in Federal Court in Massachusetts.  Case# 18cr 10315. In June 2019, Bressman pleaded guilty to defrauding clients by engaging in a cherry-picking scheme, according to a news release from the Department of Justice. Pursuant to the plea deal, the government recommended a sentence of 24-40 months.

In 9/2018 the United States Securities and Exchange Commission filed case # 1:18cv11925 in Federal Court with the United States District Court for the District of Massachusetts alleging the following against Michael A. Bressman.  “This case involves a fraudulent “cherry picking” scheme carried out by Bressman in his role as a securities broker.   From at least January 2012 through February 2018, Bressman  secretly misused his access to his customers’ brokerage accounts to enrich himself and two of his family members at the expense of his customers- most of whom were “Main Street” investors with relatively modest investment portfolios.   As a result of his deceptive scheme, Bressman received at least $700,000 in ill-gotten gains.  Cherry-picking occurs when a broker, who buys and sells securities on behalf of his brokerage customers, defrauds those customers by purchasing stock and then waiting to see whether the price of the stock goes up, or down, before allocating the trade.    If the stock goes up, the broker keeps the trade for himself or a set of “favored” accounts.   If the stock goes down, the broker puts the trades into other disfavored customer accounts.   In other words, the broker “cherry-picks” the profitable trades for himself or certain favored accounts, while giving unprofitable trades to his other customers. “ That case is still pending.

In February of 2018 the United States Securities and Exchange Commission initiated an investigation that is still pending.   “Mr. Bressman was accused of, among other things, misusing the firm’s allocation account in connection with his personal trades.”

Michael Bressman worked for FCG Advisors from 2/ 2000 until May 2018 when Bressman was discharged from FCG Advisors after allegations were made that accused him of, among other things, misusing the Firm’s allocation account in connection with his personal trades.

Bressman was discharged by Merrill Lynch in 1/2000 after it was alleged by a customer that he had traded her account without her authorization.

If you have questions about an investment account handled by Michael Bressman, 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