Category Archives: Securities Regulators

Anselmo Contreras, Jr.-Former Cambridge Investment Financial Advisor-Barred From Securities Industry-Angleton, Texas

May 2019 – Angleton, Texas

According to publicly available records, former Cambridge Investment Research  financial advisor Anselmo Contreras, Jr.  discloses a recent regulatory event resulting in his bar from the securities industry 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 4/2019 FINRA permanently barred Contreras from the securities industry to resolve allegations that he misused and converted customer funds. According to FINRA Contreras induced a customer to give him a $10,000 check to invest in a real estate venture which Contreras deposited in his personal account. In addition, FINRA alleges that Contreras borrowed $30,000 from customers of Cambridge Investments without the knowledge or approval of his firm.

Contreras was employed by Cambridge Investment Research from 9/2013 until 1/2018 when he was permitted to resign for failure to report a private securities transaction and settling a customer complaint. Contreras was registered with IFS Securities from 1/2018-4/2019.

If you have losses in an account handled by Anselmo Contreras, Jr. 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

Ex-Pat With Losses in Your U.S. Brokerage Account? How to Recover Damages.

April 2019

If you are an expat residing in Mexico, United Kingdom, Europe, Australia, the Caribbean, South America, Costa Rica or anywhere else on the planet, and have suffered losses in your U.S. brokerage account, we may be able to help you recover damages.

Disputes with brokerage firms for financial advisor negligence and fraud are generally pursued in arbitration with the Financial Industry Regulatory Authority (FINRA). Unlike court litigation, FINRA arbitration generally is much quicker and far less costly than court litigation.

Cases are typically concluded in 18 months or less and unlike court litigation, you generally do not need to be present in the States until the time of the final hearing or settlement conference.

Most cases are handled on a contingent fee basis and costs are minimal.

Over the years we have represented expats residing from Mexico, South America, Europe, United Kingdom, the Channel Islands and beyond.

If you have losses due to unsuitable recommendations or the negligence of your financial advisor , call to learn about your options for recovery of damages.

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

Stacey Sanders Sentenced to Federal Prison on Bank Fraud Charge-Fredericksburg, TX

February 2019-Fredericksburg, TX

A federal judge in San Antonio has sentenced 52-year-old Stacey A. Sanders of Fredericksburg, TX,  to 27 months imprisonment.  The former office manager of Memorial Presbyterian Church, located in Fredericksburg was sentenced  for bank fraud after she was caught writing and signing unauthorized checks on the church’s bank accounts.

Along with her prison term, U.S. District Judge Xavier Rodriguez has ordered Sanders to pay more than $400,000 in restitution.   She will pay $20,219  to Security State Bank and $400,087 to Memorial Presbyterian Church.  She will also be placed on supervised release for 5 years following her sentence.

 To conceal her activity, Defendant wrote various false statements on the checks’ memo line, such as “social security offset,” “additional payroll,” or “cleaning supplies.”

“It’s hard to believe that this has to be said, but stealing from houses of worship is really, really wrong.  When you defraud a bank to do it, it can become a federal case,” stated U.S. Attorney Bash.

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

Kelley Ranae Jones Sentenced to 3 Years for Embezzlement From Arrowhead Bank-Llano, Texas

April 2019- Llano, Texas

The US Attorney’s Office for the Western District of Texas announced that 45 year old Kelley Ranae Jones was sentenced to three years in federal prison for stealing over $900,000 from her employer, Arrowhead Bank in Llano, Texas.

Jones, wo pleaded guilty to embezzlement in January 2019,  was ordered to pay over $900,000 in restitution to the bank and the prison term will be followed by five years of supervised release.

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

Spartan Securities Group Named in SEC Regulatory Action Over Penny Stocks-Clearwater, FL

February 2019-Tampa, FL

The U.S. Securities & Exchange Commission (SEC) issued a litigation release on 2/21/2019 charging Spartan Securities Group, Ltd. , Island Capital Management, LLC, Carl E. Dilley, Micah J. Eldred and David D. Lopez for their roles in the creation “blank check” companies from 2009-2014.

The complaint alleges that Spartan Securities Group filed fraudulent applications with the Financial Industry Regulatory Authority to publicly list the companies so that the shares could be traded to public investors.

According to the release Dilley and Eldred, who are both principals of Spartan Securities, signed the false applications even though they knew or were at least reckless that the companies were fake.

The SEC is seeking to bar Spartan Securities Group from participating in penny stock offerings in the future.

Spartan Securities Group, Ltd.  is headquartered in Clearwater, Florida. They are registered in 38 U.S. States and territories and have been a member of FINRA since 2001. According to FINRA records they have been the subject of 10 prior regulatory actions.

If you have questions about an account at Spartan Securities Group, 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870