Category Archives: Promissory Notes

David Ferwerda-Former Signator Investors Broker-Sanctioned Over Woodbridge Mortgage Fund Sales-Grand Rapids, MI

October 2018- Grand Rapids, MI

The FINRA records of  David Carl Ferwerda ,  a  former stock broker who is not currently registered and who was last employed by Signator Investors  disclose  a regulatory bar from the securities industry and a termination from employment related to his alleged involvement in the sales the allegedly fraudulent Woodbridge Mortgage Investment Funds.

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 October 2018 FINRA permanently barred Ferwerda from the securities industry for his failure to provide FINRA with requested documents and information in connection with an investigation of Ferwerda’s participation in sales of notes related to the Woodbridge Group of Companies and 1 Global Capital LLC.

Ferwerda was employed by Signator Investors from 9/2012-3/2018 when he was discharged by Signator Investors for his involvement in the sale of unapproved outside investments in violation of firm policy. The Michigan Department of Licensing and Regulatory Affairs is currently investigating this matter.

Woodbridge-A $1.2 billion Ponzi According to SEC

The U.S. Securities and Exchange Commission announced charges and an asset freeze against a group of unregistered funds and their owner who allegedly bilked thousands of retail investors, many of them seniors, in a $1.2 billion Ponzi scheme.

According to the SEC’s complaint, unsealed in federal court in Miami, Florida, Robert H. Shapiro and a group of unregistered investment companies called the Woodbridge Group of Companies LLC, formerly headquartered in Boca Raton, Florida, defrauded more than 8,400 investors in unregistered Woodbridge funds.

“We allege that through aggressive tactics, Woodbridge and Shapiro swindled seniors into a business model built on lies, which the SEC’s Miami Regional Office staff moved to halt,” said Stephanie Avakian, Co-Director of the SEC’s Enforcement Division.

“Our complaint alleges that Woodbridge’s business model was a sham,” said Steven Peikin, Co-Director of the SEC’s Enforcement Division. “The only way Woodbridge was able to pay investors their dividends and interest payments was through the constant infusion of new investor money.”

“Our complaint further alleges that Shapiro used a web of layered companies to conceal his ownership interest in the purported third-party borrowers,” said Eric I. Bustillo, Director of the SEC’s Miami Regional Office.  “Shapiro used the scheme to line his pockets with millions of investor dollars.”

If you have losses in an account handled by David Ferwerda on investments in Woodbridge or other unsuitable investments call for a no charge consultation to learn about your options for recovery of damages from Signator Investors.

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

Charlotte Guin-Former J.P. Morgan Securities Broker-Subject of $10M+ Lawsuit-Huffman, Texas

May 2018- Huffman, Texas 

According to FINRA records, Charlotte A. Guin,  a  former stockbroker who was last  employed by J.P. Morgan Securities , disclose  a prior regulatory event a termination from employment and a pending dispute by a former customer who is seeking damages in excess of $10 million.

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 Case2016-76988, Harris County, Texas, a former J.P. Morgan Securities customer alleges that Guin diverted funds from the clients accounts held at a firm affiliate and that Guin made false loan guarantees and misrepresentations from 2004-March 2015. The customer seeks an amount of damages in excess of $10 million.

In 2015 Guin   entered into a Letter of Acceptance Waiver and Consent (AWC) with the FINRA to resolve allegations that she failed to provide documents and information during the course of a FINRA investigation into allegations that Guin converted the funds of a non-firm customer. Guin agreed to a permanent bar from the securities industry. AWC No. 2015045263801

According to FINRA records, Guin was registered with J.P. Morgan Securities  from 6/2011-4/2015. She was discharged by J.P. Morgan who made the following allegation on her FINRA record: “Employee had potentially recommended an unapproved outside investment to a client that was not disclosed to the firm”

If you have questions about an account handled by Charlotte Guin, call for a no charge consultation to discuss your options.

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

Jerry Raines -Former Signal Securities Broker-Customers Sue For $4M Losses on Woodbridge Funds-Kilgore,TX

May 2018- Kilgore, TX

The FINRA records of  Jerry D. Raines,  a  previously registered stock broker who was last employed by HD Vest Investment Services and Signal Securities,  disclose  eleven  pending customer disputes involving the allegedly fraudulent Woodbridge Mortgage Investment Funds. Raines operates Stonelion Insurance and Financial Services in Kilgore, TX.

Total damages alleged in the pending cases exceed $4 million. Claimants have alleged unsuitable recommendations, misrepresentation and that Raines participated in a civil conspiracy and committed overt acts to support  the Woodbridge fraudulent scheme.

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.

 

Woodbridge-A $1.2 billion Ponzi According to SEC

The U.S. Securities and Exchange Commission announced charges and an asset freeze against a group of unregistered funds and their owner who allegedly bilked thousands of retail investors, many of them seniors, in a $1.2 billion Ponzi scheme.

According to the SEC’s complaint, unsealed in federal court in Miami, Florida, Robert H. Shapiro and a group of unregistered investment companies called the Woodbridge Group of Companies LLC, formerly headquartered in Boca Raton, Florida, defrauded more than 8,400 investors in unregistered Woodbridge funds.

“We allege that through aggressive tactics, Woodbridge and Shapiro swindled seniors into a business model built on lies, which the SEC’s Miami Regional Office staff moved to halt,” said Stephanie Avakian, Co-Director of the SEC’s Enforcement Division.

“Our complaint alleges that Woodbridge’s business model was a sham,” said Steven Peikin, Co-Director of the SEC’s Enforcement Division. “The only way Woodbridge was able to pay investors their dividends and interest payments was through the constant infusion of new investor money.”

“Our complaint further alleges that Shapiro used a web of layered companies to conceal his ownership interest in the purported third-party borrowers,” said Eric I. Bustillo, Director of the SEC’s Miami Regional Office.  “Shapiro used the scheme to line his pockets with millions of investor dollars.”

Raines was employed by HD Vest Investment Services  from 8/2014-5/2017.  Prior to that  he was with Signal Securities, Inc.  from 4/2013-6/2014 and before that with Woodmen Financial Services.

If you have losses in an account handled by Jerry Raines, 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

Donna Barnard-Former Signal Securities Broker-Subject of $4M Woodbridge Fund Suits-Kilgore, TX

May 2018- Kilgore, TX

The FINRA records of  Donna L. Barnard ,  a  stock broker formerly employed by HD Vest Investment Services and Signal Securities,  disclose  10  pending customer disputes involving the allegedly fraudulent Woodbridge Mortgage Investment Funds I and II. Barnard is affiliated with Stonelion Insurance & Financial Services in Kilgore, Texas.

Total damages alleged in the ten claims are nearly $4 million. The former customers of H.D. Vest and Signal Securities who are bringing the claims allege unsuitable investments, misrepresentation, failure to perform adequate due diligence and the  sale of unregistered securities

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.

Woodbridge-A $1.2 billion Ponzi According to SEC

The U.S. Securities and Exchange Commission announced charges and an asset freeze against a group of unregistered funds and their owner who allegedly bilked thousands of retail investors, many of them seniors, in a $1.2 billion Ponzi scheme.

According to the SEC’s complaint, recently unsealed in federal court in Miami, Florida, Robert H. Shapiro and a group of unregistered investment companies called the Woodbridge Group of Companies LLC formerly headquartered in Boca Raton, Florida, defrauded more than 8,400 investors in the  unregistered Woodbridge funds.

“We allege that through aggressive tactics, Woodbridge and Shapiro swindled seniors into a business model built on lies, which the SEC’s Miami Regional Office staff moved to halt,” said Stephanie Avakian, Co-Director of the SEC’s Enforcement Division.

“Our complaint alleges that Woodbridge’s business model was a sham,” said Steven Peikin, Co-Director of the SEC’s Enforcement Division. “The only way Woodbridge was able to pay investors their dividends and interest payments was through the constant infusion of new investor money.”

“Our complaint further alleges that Shapiro used a web of layered companies to conceal his ownership interest in the purported third-party borrowers,” said Eric I. Bustillo, Director of the SEC’s Miami Regional Office.  “Shapiro used the scheme to line his pockets with millions of investor dollars.”

Barnard , who is not currently registered as a broker, was employed by HD Vest Investment Services  from 8/2014-5/2017.  Prior to that  she was with Signal Securities, Inc.  from April 2013 until June 2014.

If you have losses in an account handled by Donna Barnard,  call for a no charge consultation to learn about your options for recovery of 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

Michael J Blake-Former Ameritas Investment Corp. Broker-Disclose Numerous Customer Disputes Over Promissory Note Sales-Paradise Valley, AZ

March 2018-Paradise Valley, AZ

The FINRA records of  Michael J. Blake ,  a  stockbroker who is currently unregistered and who last was employed by  Mid Atlantic Capital Corp. disclose 2 prior regulatory matters, 4 currently pending customer disputes and 5 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 a prior customer dispute, FINRA case #9-04700 a customer of Ameritas Investment Corp. alleged damages of $1.5 million in connection with a real estate security. That case was settled for $475,000.

In FINRA arbitration #15-3118 a customer of Ameritas Investment Corp. alleged damages of $425,000 in connection with a promissory note investment. That case was settled for $95,000 in June 2017.

The pending customer disputes include:

  • FINRA Case 17-0334 in which an Ameritas Investment Corp. customer alleges damages of $441,000 in connection with an investment in a promissory note.
  • CV 2017-0061 pending in Superior Court of Arizona in which an Ameritas customer alleges damages of $875,000 in connection with a promissory note investment.
  • 2-13 CV-02461-MEA pending in US District Court-District of Arizona in which another Ameritas customer alleges damages of $450,000 in connection with a promissory note investment.

Blake was registered with Ameritas Investment Corp.  from 6/2005-3/2013 and with Mid Atlantic Capital from 5/2013-10/2013.

If you have questions about an account handled by Michael J. Blake, call for a no charge consultation to learn about your options.

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