Dallas Attorney Andrew Siegel Pleads to Second Mail Fraud Charge in Vodka Scam

January 6, 2015–Dallas TX

UPDATE AUG 19, 2015-SIEGEL Sentenced for Investor Fraud

The FBI announced in a press release that Andrew Lee Siegel , a Dallas attorney, pleaded guilty to an additional mail fraud charge in connection with an investment scheme in which he raised over $1.5 million from 35 investors who thought they were investing in a new vodka company.  In July 2014, Siegel pleaded guilty to one count of felony criminal infringement of a copyright.

In 2010, Siegel formed two companies Dynasty Spirits, LLC and Speak Easy Distillers, LLC, which were purportedly formed for the purpose of producing and distributing “Nue Vodka“.  Siegel later became manager of Vanguard Spirits which was to produce and distribute ‘Vanguard Vodka“.

According to prosecutors, Siegel used over $400,000 on personal expenses and then tried to cover up the scheme by creating fraudulent emails using the copyrighted logo of The Northern Trust Company. He faces up to 25 years in prison and fines.

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`

Financial Adviser Steals from Elderly Now Facing 51 Months in Prison

January 5, 2015-Bellingham, Washington

In July 2005, Jeffrey M. Knutsen, 43, of Bellingham was permanently barred from the securities industry for stealing nearly $90,000 from a customer’s account to pay his personal credit card bill. Knutsen was registered with Linsco/Private Ledger Corp (now LPL Financial) at the time of the sanction.

Unfortunately for his new victims, Knutsen did not cease acting as a financial advisor and, despite being barred by the Financial Industry Regulatory Authority (FINRA), continues to work with his mostly elderly clients.

According to the FBI Press Release, Knutsen did not tell his clients he had been barred and instead talked them into moving their accounts to an online brokerage firm, explaining that he was moving to save them fees.  He set up accounts with TD Ameritrade and ETrade and continued to manage their accounts charging them a management fee.

Knutsen returned to his old ways and also began writing checks to himself from the client accounts, taking over $250,000 without the authorization of knowledge of his elderly clients. He was sentenced to 51 months in prison and $251,892 in restitution.

Investors should periodically check the disciplinary history of their financial advisor from time to time on the FINRA BrokerCheck Website. See this for more details.

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

J.P. Morgan Broker Jamal Romero Barred from Securities Industry

January 5, 2015

Jamal Romero   entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that in 2012, while registered with J.P. Morgan Securities, he forged a bank customer’s signature on at least three occasions which facilitated the misappropriation of $3,900 from the customer’ account.

Case # 2013038469901

Romero  agreed to a bar from association, in any and all capacities, with any FINRA member firm.

According to FINRA records Romero  was registered with J.P. Morgan Securities from 10/2012-9/2013. Prior to that he was registered with Chase Investment Services.

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

William Scholander and Talman Harris-Radnor Research & Trading, Brokers – Named in Regulatory Action

January 5, 2015

FINRA filed a disciplinary proceeding against Radnor Research & Trading Company (Radnor) and brokers William Scholander and Talman Harris alleging the following causes of action: 

  • Failure to Report Customer Complaints
  • Willful failure to Update Form U4
  • Failure to Disclose Markups or Markdowns
  • Failure to Supervise

The complaint alleges that Scholander received a written complaint from a customer stating that she had not authorized any trading in her account which had losses of over $200,000. The complaint was not reported to Radnor’s home office for over seven months in violation of FINRA rules.

The complaint also alleges that Radnor failed to disclose markups and markdowns on rissoles principal transactions in violation of FINRA rules.

In addition the complaint alleges that Radnor and its representatives violated FINRA rules in connection with the sale of Nova Lifestyle, Inc. , a private placement.

If you have suffered damages in an account at Radnor Research & Trading Company, you may be able to recover damages through FINRA arbitration. Call for details.

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

Former Aegis Capital Broker Thomas Juliano Sanctioned by Securities Regulator

January 5, 2015

Thomas Juliano   entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he failed to provide notice to his employing firm of his outside business activity.

According to the regulatory pleading from March 30,2010-July 10,2013, while associated with Aegis Capital, Juliano sold over 1.3 million in annuities through an entity that was unaffiliated with Aegis Capital to customers and was compensated over $81,000, in violation of NASD and FINRA rules.

Case # 2013036092501

Juliano  was suspended for two months and agreed to pay a fine of $5,000.

According to FINRA records Juliano  is not currently registered with any securities firm.

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

Nationwide representation of victims of stockbroker fraud and the malpractice of investment professionals.

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