Category Archives: American Capital Partners

Richard Reynolds-Worden Capital Broker-Discloses 3 regulatory events, 11 customer disputes and a termination-Garden City, NY

November 2020- Garden City, NY

According to publicly available records Richard Foerster Reynolds (CRD#2162706), a stockbroker who works for Worden Capital Management  discloses three regulatory events, 11 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 May of 2016, the State of Illinois ordered sanctions that Reynolds would lose his registration as a salesperson in the state of Illinois for a period of two years when he could re-apply. The cost of investigation was also sanctioned in the amount of $150. Sanctions were ordered to satisfy allegations that Reynolds had been barred from the NYSE for five months after violating various New York Stock Exchange rules.

In October of of 2013, the State of Michigan denied Reynolds registration alleging that he had engaged in dishonest or unethical practices in the securities and investment business within the previous 10 years and that he was the subject of an order issued by the NYSE.

In December of 2007 the NYSE Division of Enforcement sought sanctions alleging that Reynolds 1) violated the NYSE rule of engaging in an outside business without consent 2) engaged in conduct inconsistent with just and equitable principles of trade by soliciting firm customers and others to invest in private securities transactions away from the firm and making misstatements to customers 3) sending correspondence to customers without supervisory review or approval. Sanctions were censure and a five month bar from NYSE.

From May of 2008 until April 2019, nine customer disputes were filed by customers firms that employed Reynolds -Janney Montgomery Scott, American Capital Partners and Worden Capital alleging among other things churning, over-concentration, unauthorized trading, unsuitability, misrepresentations, unsuitability, statutory and common law fraud, breach of contract, breach of fiduciary duty, negligence and negligent supervision. The cases were cumulatively settled for more than  $650,000. 

In April of 2010, American Capital Partners terminated Reynolds after allegations of insubordination and violation of firm policy.

Reynolds has been employed with Worden Capital Management since December of 2015. Before that he worked with Rockwell Global Capital, American Capital Partners, and Janney Montgomery Scott.

If you had an account with Richard Reynolds 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  investorsnationwide 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

Craig D. Dima-Former K.C. Ward Financial Broker-Barred From Securities Industry

June 2017- Ronkonkoma, NY

The FINRA records of Craig D. Dima ,  a former  stock broker who was last employed by K. C. Ward Financial  disclose 3 prior regulatory events,  5 prior customer disputes, 2 terminations from employment and a currently outstanding judgement/lien.

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 May 2016, Dima disclosed that he had received notice from FINRA that he is the subject of investigation #20150464407. In 3/2017 Dima was permanently barred from the securities industry to resolve allegations that he made 41 unauthorized sales of company stock in the account of a senior customer of K.C. Ward Financial. To conceal the unauthorized trading FINRA found that Dima made fraudulent misrepresentations to the customer including telling him that the sales were the result of a computer error. As a result of Dima’s unsuitable recommendations, FINRA found that the customer paid transaction costs of about $376,000, was deprived of $127,000 in dividend payments and had trading losses of $72,000.

In FINRA Case#14-02955 , a customer of K.C. Ward Financial alleged damages of $100,000 for account losses from 2012-May 2014. The customer claims Dima pursued investment strategies that were not in line with the customer’s needs. That case settled for $30,000.

Dima  discloses a currently outstanding lien in favor of the Internal Revenue Service in the amount of $57,264.

Dima was employed by  K.C. Ward Financial  from 9/2009-2/2017. Prior to that he was employed by American Capital Partners from 11/2008-10/2009.

If you have losses in an account handled by Craig D. Dima, 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

Timothy Longo-Former Trident Partners Broker-Subject of Customer Suits-Hauppauge, NY

May 2018-Hauppauge, New York

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 FINRA recordsTimothy V. Longo has been registered with American Capital Partners  since 8/2015. Prior to that he was registered with Trident Partners, Ltd. from 1/2006-8/2015.

FINRA records disclose that Longo is currently named in two customer disputes and there have been 7 prior customer disputes that have been resolved. Several of the disputes  involve exchange traded note sales to customers while he was registered with Trident Partners. In those cases the customers allege that the sale of the exchange traded notes was unsuitable in regards to the customer’s risk tolerance and investment objectives.

In 2006 the New York Stock Exchange sanctioned Longo with a censure and a 4 month suspension to resolve allegations that he engaged in conduct inconsistent with just and equitable principles of trade.

Prior customer disputes that have been resolved include:

  • FINRA Case 17-1370 a customer of Trident Partners/American Capital alleged that unsuitable trades were made in his account and sought damages of $150,000. The case was settled for $43,000.
  • In 9/2013 a customer of Trident Partners alleged poor performance from July 2011-2013 and sought damages of $100,000. The case settled for $70,000.

In a currently pending matter a customer of Trident Partners alleges unauthorized trading in VXX Exchange Traded Notes, an investment the customer alleges was unsuitable in light of the customer’s investment objectives and risk tolerance. Damages of $34,405 are sought.

If you have losses in an account handled by Timothy V. Longo contact us 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

South Carolina Regulators Seek to Take Securities License of Mark Hotton

June 23, 2015- Columbia, South Carolina

The Securities Commissioner for South Carolina filed a Rule to Show Cause seeking to permanently ban Mark Christopher Hotton from the securities industry.

In 2013 Hotton was permanently barred from the securities industry by FINRA in FINRA Disciplinary Proceeding 2009017408101, which alleged that Hotton improperly used and converted nearly $6 million of customer funds while employed by Oppenheimer & Co. , Inc. The FINRA proceeding also alleges that Hotton forged and falsified numerous company documents to perpetuate is scheme, made unsuitable recommendations to customers and churned accounts.

Hotton has numerous customer complaints seeking damages on his official FINRA records, including an arbitration award of $2.35 million in damages to one customer.

Hotton was most recently registered as follows:                                2/2012-5/2012

  • Alexander Capital LP                                         9/2010-3/2012
  • American Capital Partners                            1/2009-8/2010
  • Oppenheimer & Co.                                           11/2005-2/2009

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