Category Archives: Forest Securities

Jeffrey Nimmow- Former Forest Securities Financial Advisor- Barred from FINRA – Merrimac, WI

October 2020- Hillside, IL

The FINRA records of Jeffrey Scott Nimmow  , a broker previously employed  by  Forest Securities, Inc. disclose  a regulatory event resulting in his bar from the securities industry, two pending customer disputes 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 February 2020, Nimmow was permanently barred from the securities industry by the Securities and Exchange Commission after allegations that he engaged in the sale of promissory notes to investors totaling at least $3,3M without disclosing and receiving approval from his member firm.    The findings stated that the promissory notes were for a self-advertised real-estate investment fund and were unregistered securities.    Nimmow received approximately $177,937 in commissions for these transactions.  Later the fund filed a voluntary Chapter 11 Bankruptcy petition.   The SEC filed a complaint with the US District Court for the Southern district of Florida against the fund and its former owner, among others, claiming that they ran a Ponzi scheme.

In June of 2018, a Forest Securities, Inc. customer filed FINRA case #18-02242 alleging that Nimmow solicited customer to loan money to Woodbridge group of companies.

In March of 2018, Nimmow was discharged from Forest Securities, Inc., after allegations related to the sale of Woodbridge promissory notes and mortgages .

Nimmow worked for Forest Securities, Inc. from August 2015 until March of 2018.  He was with Legacy Financial from October 2006 until August 2015.   Prior to that he was with Questar Capital Corporation.

If you have problems in an account  handled by Jeffrey Scott Nimmow  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

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