Tag Archives: avoid financial exploitation of elderly

William Gordon-Capital Financial Services Broker-Discloses12 Customer Suits-Clearwater, FL

February 2019 – Clearwater, FL

According to publicly available records  William B. Gordon  (CRD# 2127800) ,  a   registered stockbroker currently employed by Capital Financial Services  disclose a prior regulatory event, a pending customer dispute and 12 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 2009, an Investors Capital Corporation customer filed FINRA case #09-01323 alleging negligence, breach of fiduciary duty and common law fraud in connection with the purchase of certain investments, including REITs.    The customer was awarded damages of  $150,970.

Eleven other Investors Capital Corporation customers filed customer complaints against Gordon with allegations ranging from  unsuitable investments, breach of contract, breach of fiduciary duty, negligence to fraud.   Total settlements paid to the customers was in excess of $1.1 million.

In pending FINRA case 19-0204,  a customer of Capital Financial Services, Inc.,  alleges unsuitability, misrepresentation and omissions and breach of fiduciary duty in connection with REIT and annuity investments. The customer is seeking damages of  $200,000.

Gordon was employed by Investors Capital Corp. from 1998 until November of 2010.   He has been employed with Capital Financial Services, Inc. since 11/2010.

If you have losses in an account handled by William Gordon, contact us for a no charge consultation to learn how you may be entitled 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

Ian Greenblatt-Capitol Securities Management Broker-Discloses Regulatory Suspension and Settlement of Customer Dispute-Melville, NY

December 2018-Melville, New York According to publicly available records   Ian Greenblatt (aka Eric Green)  , a  stockbroker who is currently registered with Capitol Securities Management Inc.  disclose a recent regulatory suspension & fine and settlement of two customer complaints.

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 Greenblatt was suspended for 30 days and fined $10,000 by FINRA to resolve allegations that he settled a complaint with a customer who had lost over $170,000 without the permission or knowledge of his employing firm. According to FINRA’s allegations, Greenblatt did not advise his firm of the customer’s dissatisfaction and instead wrote gave the customer’s son a personal check for $46,000 along with $4,000 in cash. He also promised to attempt to generate trading profits to recoup the losses. In 9/2018 a customer of Capitol Securities Management was paid $183,000 to resolve allegations that Greenblatt had made unsuitable recommendations, committed elder abuse and breached  his fiduciary duty. Greenblatt contributed $93,600 personally to the settlement.

If you have losses in an account in an account handled by Ian Greenblatt (also known as Eric Green) , 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

Alex G. Herrera-Former UBS Broker-Accused of Stealing Client Money in $7M Investor Suit-Coral Gables, FL

March 2019 – Coral Gables, FL

According to FINRA records,  Alex Gerardo Herrera  a former stockbroker who  last worked for USB Financial Services,  discloses 2 prior regulatory events , a current customer dispute and a prior customer dispute.

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 August of 2018, without admitting or denying the findings, Herrera  consented to sanctions and entry of findings that while employed by USB Financial Services,  he refused to provide information requested by FINRA in connection with its investigation of his possible participation in unreported outside business activities and private securities transactions.    Herrera was permanently barred from the securities industry.

In May of 2018, a UBS customer alleged that Herrera had stolen her money to buy a vacation home.  That matter was closed with no acton in 10/2018.

In 10/2018 a customer of UBS Financial file FINRA case #18-3652 alleging that Herrera exercised impermissible discretion, traded the customer’s portfolio for his own personal gain and engaged in unapproved outside financial transactions and stole money. The customer is seeking damages of $7 million in this currently pending matter.

If you have losses in an account handled  Alex G. Herrera, call for a no charge consultation to learn about your legal options for recovery.

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

Trustmont Financial Group Ordered to Pay Customer $1M-Tampa, FL

August 2018-Tampa, Florida

A panel of FINRA arbitrators ordered Trustmont Financial Group to pay a former customer more than one million dollars for violations of Florida securities laws, breach of fiduciary duty, negligence and other claims related to 1035 annuity exchanges and an investment in a private real estate investment trust (REIT). Grimes v Trustmont Financial Group, FINRA Case 17-0474. 

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.

Trustmont Financial Group has been a FINRA member since 1986. They are headquartered in Greensburg, Pennsylvania with about 65 branch offices and 120 registered representatives nationwide. While most branches are located in Pennsylvania, Trustmont has offices in numerous other states.  In Florida Trustmont has offices Marco Island and Bradenton. In South Carolina they have offices in Greenville.

In 2016 Trustmont was fined $100,000 for supervisory failures related to inspection of branch offices and supervision of the sale of unit investment trusts.

Brokers and financial advisors are required to make suitable recommendations to investors, taking into account their age, health, overall financial condition and their ability to accept risk.

If you have questions about losses in your brokerage account, call 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