Category Archives: Securities Regulators

Jon Pariser-Former Independent Financial Group Broker-Subject of $2.7M Customer Suits Over Note Sales-Pacific Grove, CA

December 2018-Pacific Grove, CA

According to publicly available records    Jon R. Pariser , a  former stockbroker who was last registered with Independent Financial Group , and before that SWS Financial Services,  disclose a recent regulatory event barring him from the securities industry, 3 currently pending and 3 prior 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 10/2018 FINRA permanently barred Pariser from the securities industry to resolve allegations that he failed to cooperate with a FINRA investigation into his referral of customers to an individual who was not registered to sell securities and who may have recommended or sold unsuitable securities to them.

In the three currently pending FINRA arbitrations , customers of Independent Financial Group allege that Pariser recommended that they purchase promissory notes from individuals not affiliated with Independent Financial Group. They seek combined damages of more than $2.7 million. In 6/2014 Pariser was discharged by SWS Financial Services who alleged that he had utilized unauthorized discretion in customer accounts.

If you have losses in an account in an account handled by Jon Pariser , 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

Jared Rice, Sr. Indicted on Cryptocurrency Fraud-Fort Worth, Texas

November 2018-Fort Worth, Texas

The U.S. Attorney’s Office for the Northern District of Texas announced the arrest of Jared Rice, Sr. who is charged with defrauding hundreds of investors out of more than $4 million in a cryptocurrency scheme.

According to the Department of Justice press release, Rice lied when he told investors that AriseBank could offer consumers FDIC-insured accounts and traditional banking services, including Visa credit cards, in addition to cryptocurrency services.

Rice, who is charged with three counts of securities fraud and three counts of wire fraud, purportedly used the investor funds for his own personal use, faces up to 120 years in prison, if convicted.

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

Rhino Capital Group Investment Losses? How to Recover Damages.

November 2018

We are investigating options for recovery of damages for investors who may have suffered losses on the following :

  • Global Credit Recovery
  • Delmarva Capital
  • DeVille Asset Management
  • Rhino Capital Holdings
  • Rhino Capital Group
  • Riverwalk Financial Corp.

The U. S. Securities & Exchange Commission has charged the following individuals with operating a Ponzi scheme that raised over $345 million from investors who believed they were investing in a business that collected and resold consumer debt:

  • Kevin B. Merrill                              Towson Maryland
  • Jay B. Ledford       Westlake, TX & Las Vegas, NV
  • Cameron R. Jezierski                      Fort Worth, TX

According to the SEC complaint, the more than 230 investor/victims include small business owners, restaurateurs, construction contractors, retirees, doctors, lawyers, accountants, bankers, talent agents, athletes and financial advisors.

Instead of using the investor funds as promised, the individual defendants stole much of it and used it to fund their lavish lifestyles which included:

  • A Ferrari costing $368,000
  • A seven carat diamond ring costing $330,000
  • $13 million paid to casinos
  • $10 million on high end cars (Bugatti, Rolls Royce, Lamborghini and others)
  • A private jet costing $500,000

If you are a victim of this fraud, contact us for a no charge consultation to learn how you may be able to recover damages for your losses.

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

Wesley Perkins-World Tree Financial-Charged With Cherry-Picking Trades-Lafayette, LA

October 2018- Lafayette, LA

The FINRA records of  Wesley Kyle Perkins ,  a  former stock broker who is not currently registered and who was last employed by Purshe Kaplan Sterling Investments  disclose  that he is currently named in an civil action filed by regulators alleging ‘cherry picking’ and is the subject of one pending and 4 prior customer disputes

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 September 2018, the U.S. Securities and Exchange Commission (SEC) filed an action alleging that Wesley K. Perkins and his company World Tree Financial LLC operated a cherry picking scheme that defrauded World Tree Clients. According to the complaint, for 4 years Perkins reaped substantial profits at his client’s expense by cherry-picking trades, allocating favorable trades to favored accounts, including his own, and unprofitable trades to other accounts.

The SEC is seeking an injunction, disgorgement of illicit profits and civil penalties.

In a civil action pending in Lafayette Parish, customers of Perkins are seeking damages of $1.1 million for the mismanagement of their accounts.

Wesley Perkins was employed by Purshe Kaplan Sterling Investments from 12/2009-8/2018.

If you have losses in an account handled by Wesley Perkins  call for a no charge consultation 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

Sean Brady-Former First Allied Securities Broker-Subject of Customer Suits Seeking Over $12 Million-St. Louis, MO

October 2018- St. Louis, MO

The FINRA records of  Sean Aaron Brady ,  a  former stock broker who is not currently registered and who was last employed by First Allied Securities  disclose  that he was recently permanently barred from the securities industry, terminated from employment and is the subject of 9 currently pending customer suits seeking millions of dollars.

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 June 2018 FINRA  permanently barred Sean Brady from the securities industry to resolve allegations that he failed to provide FINRA information and documents requested during an investigation into possible sales practice violations committed by Brady.

There are currently nine cases pending by customers of Sean Brady seeking total damages in excess of $12 million in damages. Allegations of Sean Brady’s wrongdoing include:

  • unsuitable recommendations on the basis of false account documents
  • incorrect account information
  • fraud
  • negligence
  • failure to supervise
  • breach of fiduciary duty

Sean Brady was employed by First Allied Securities from 5/2008-10/2017 when he was discharged for violating firm policy pertaining to 1-falsification of signature on documents, 2-text messaging, and 3-consolidated account reports.

If you have losses in an account handled by Sean Brady  call for a no charge consultation to learn about your options for recovery of damages from First Allied Securities.

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