Category Archives: A.G. Edwards

Chris Sinkula Investigation-Janney Montgomery Broker Discloses $2.3M Customer Suit-Stuart, FL

February 2019-Stuart, Florida

According to public records, Christopher D. SInkula  (CRD#2001512))  a  stockbroker who is currently employed by Janney Montgomery Scott,  discloses 2 pending customer disputes and 9 prior customer disputes that have been resolved.

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 currently pending FINRA Case 18-2707, a customer of Janney Montgomery alleges that Sinkula made unsuitable investment recommendations and seeks damages of $400,000.
  • In another currently pending matter, FINRA Case 18-1458, a Janney Montgomery customer seeks damages of $2.3 million, alleging unsuitable recommendations by Sinkula.

Sinkula’s official broker records disclose that five of his prior customer disputes  resulted in cash settlements, including the following:

  • In FINRA Case 18-1334, a customer of Janney Montgomery Scott was paid $100,000 to resolve allegations that Sinkula made unsuitable investments in the customer’s account.
  • In FINRA Case -17-2467, a customer of Janney Montgomery Scott was paid $24,750 to resolve allegations that Sinkula caused losses when he over concentrated  the customer’s account with energy stocks.
  • In FINRA Case -17-1814, a customer of Janney Montgomery Scott was paid $22,900 to resolve allegations that Sinkula caused losses when he over concentrated  a customer’s account with energy stocks.
  • In FINRA Case 12-01357 a customer of CItigroup Global Markets, his prior employer, sought damages of $879,680 alleging that Sinkula misrepresented the features of variable annuities that he recommended. That case was settled for $200,000.
  • In NASD Case 97-0761 a customer of A.G. Edwards, his prior employer, sought damages of $67,540 and alleged breach of contract, breach of fiduciary duty, account related negligence and failure to execute. That case was settled for $46,000.

If you have losses in an account handled by Christopher Sinkula, call for a no charge consultation 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

Jeffrey L. Offen-Craft Capital Management Broker-Discloses Customer Disputes & Judgements-Garden City, NY

February 2019- Garden City, NY

According to publicly available records Jeffrey L. Offen  , (CRD# 2893980) ,  a  stockbroker who is not currently employed as a stockbroker and who was last employed by  Craft Capital Management  discloses:

  • 2  prior regulatory events
  • 2 prior customer disputes
  • 12 currently outstanding liens/judgments

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 FINRA suspended Offen for three months for failing to respond to information in connection with a FINRA investigation.

In December 2016 Offen was fined $5,000 and suspended for 60 days by FINRA for failing to timely disclose reportable information. FINRA Case 2016048415301.

In FINRA Case 9-5377 a customer of New Castle Financial Services alleged damages of $98,000 for breach of fiduciary duty, fraud and negligence. That case was settled for $60,000 in 1/2011.

The 12 outstanding judgment/liens against Offen include:

  • $4,970 to Sharton T. McLaughlin, MD
  • $17,049 to Daimler Chrysler
  • $58,970 to the Internal Revenue Service
  • $35,621 to the Family Court of the State of New York
  • $6,117 to Salvatore Albanese & Co.

Offen was employed by Craft Capital Management since 10/2016-9/2017. His prior employment includes Salomon Whitney Financial, Network 1 Financial Securities, Laidlaw & Company and Obsidian Financial Group. 

If you have questions about an account handled by Jeffrey L. Offen, call for a no charge consultation to discuss your situation 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Debra R. Lambert-Raymond James Broker-Discloses Pending Customer Arbitration

August  2016-The Villages, Florida

The FINRA records of Debra R. Lambert ,  a  stock broker who is currently employed by Raymond James & Assoc. , disclose a pending customer dispute brought by a customer of Merrill Lynch, Lambert’s prior employer.

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 pending FINRA arbitration #16-0228, a customer alleges damages of $326,515 for unsuitable investment recommendations, unauthorized trading and excessive trading from June 2011-April 2014.

Lambert has been employed by Raymond James & Assoc. since 5/2014.  Her prior employment includes Merrill Lynch and  A.G. Edwards & Sons. 

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

Robert Kyle Ratcliff-Stifel,Nicolaus Broker-Discloses Customer Arbitration-Denton, TX

Denton, Texas

UPDATE JULY 2017FINRA records disclose that arbitration 15-3427, discussed below, was settled 2/2017 for $117,477.

 August  2016-ORIGINAL POST   The FINRA records of Robert Kyle Ratcliff ,  a  stock broker who is currently employed by Stifel, Nicolaus & Co. , disclose a currently 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 currently pending FINRA arbitration 15-03427, a customer of Stifel, Nicolaus  alleges damages of $75,000 for breach of fiduciary duty, negligence, failure to supervise, failure to make suitable investment recommendations, unauthorized trading, violations of Texas Securities Act, fraud, misrepresentation and breach of contract from 4/28/2011-5/28/2013.

Ratcliff has been employed by Stifel, Nicolaus & Co. since 2/2010. His prior employment includes Wells Fargo Advisors and A.G. Edwards & Sons.

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

John R. McKinstry Investigation-Former Moloney Securities Broker-St. Louis

1/21/2016-St. Louis, MO

Rex Securities Law is investigating former Moloney Securities broker John R. McKinstry on behalf of an elderly retired couple.

According to his FINRA brokercheck report, McKinstry was discharged from Moloney Securities in August 2015. The termination comment provided by Moloney Securities states: “Internal review concerning customer complaints and FINRA cause exam”.  

This is not the first time McKinstry has been discharged by a broker dealer. In March 2004, he was discharged by Smith, Moore & Co. The termination comment provided by Smith, Moore states: “Violation of company policies & procedures”. 

In January 1997 he was ‘permitted to resign” from A.G. Edwards & Sons.  In May 1997 he was sanctioned by the State of Missouri who alleged that McKinstry inappropriately used margin for securities purchases in a customer account. In 1998 the New York Stock Exchange sanctioned McKinstry for margin related issues.

McKinstry’s FINRA report indicates that there have been numerous settlements with customers, including:

  • 2002-Settlement of $170,000 paid to customer who alleged unsuitablity and churning.
  • 1999- Settlement of $54,000 paid to customer who alleged losses of principal
  • 1996- Settlement of $63,961 to customer who alleged investment was not suitable based on age of client

We would like to speak with former customers of this broker who may have information helpful to this investigation.

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