Category Archives: Promissory Notes

Bradley Mascho-Former Western International Securities Broker- Charged with Securities Fraud- Frederick, MD

November 2019 – Frederick, MD

The FINRA records of Bradley Mascho  , a currently unregistered stockbroker who was last employed by  Western International Securities, discloses 2 regulatory events , a criminal event, a civil event, 9 pending customer disputes, 5 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 1/2018, FINRA  permanently barred Mascho after he refused to appear for a FINRA-requested on- the -record testimony during an investigation into his potential serious violations, including fraud, undisclosed outside business activities, and private securities transactions.

In 12/2017, United States Securities and Exchange Commission filed case 8:17cv2453 alleging violations of Section 5(a) and (c), Section 17(a) of Securities Act of 1933, Section 10(b) and 10b-5 of the Securities Exchange Act of 1934.   Sanctions sought are Civil and Administrative Penalties/Fines, Disgorgement, monetary penalty other than fines and injunction.   This case is pending.

In 11/2017 Mascho was charged with a felony count of conspiracy to commit securities fraud, one felony count of wire fraud conspiracy and one count of Securities Fraud; aiding and abetting,   Charges are currently pending in the US DIstrict Court of Maryland.

In 12/2017 the SEC charged Mascho and his company DJB Holdings with fraud in connection with raising over $20 million through the sale of convertible and promissory notes in the company.

From 3/2015 until  4/2019, 5 customer disputes were filed by customers of Western International Securities, Inc.,  alleging unsuitable recommendations, negligence and breach of fiduciary duty.  These cases were settled in the cumulative amount of nearly $500,000

The following cases , filed by customers of Western International, are still pending.

  1. Case #19-00748 alleging damages of $427,538.
  2. Case #19-00977 alleging  damages of $100,000.
  3. Case #19-00517 alleging damages of $2,444,388.
  4. Case #18-03902 alleging damages of $500,000.
  5. Case #18-03888 alleging damages of $200,000.
  6. Case #18-03080 alleging damages of $353,000.
  7. Case #18-03958 alleging damages of $150,000.
  8. Case #18-03941 alleging damages of $250,000.
  9. Case #18-00968 alleging damages of $5,000.

Mascho worked for Western International Securities  from 10/2009-12/2017.

Prior to that Mascho was employed by Royal Alliance Associates, Inc., Legg Mason Wood Walker, and  American Express Financial Advisors.  

If you have questions about an account  handled by Bradley Mascho  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

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

March 2019- 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 , a customer dispute 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