Tag Archives: avoid financial exploitation of elderly

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

Preventing Financial Fraud Program Announced for Columbus Nebraska-February 12, 2015

January 4, 2015-Columbus Nebraska

The Columbus Telegram announced that the Nebraska Consumer Protection Division will present their “Preventing Fraud: Nebraska Senior Anti-Fraud Education (SAFE)” program on the evening of Thursday, February 12, 2015, at 5:30-7 pm in the Columbus Public Library Auditorium.

The program is sponsored by the Columbus Public Library, AARP Nebraska, the Nebraska Attorney General’s Office and the Columbus Police Department.

The free program will instruct attendees on how to recognize fraud and elder financial abuse. Sign up at the library or call 402-564-7116.

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

Silver Ribbon Community Partners Targets Elder Abuse in Rio Grande Valley

January 3, 2015-McAllen, Texas

According to a recent article in The Monitor, there are more than 2,500 cases of elder abuse reported in Hildago County annually. While the type of abuse may be sexual, physical or emotional , the most common i s financial abuse and financial exploitation of the elderly.

The National Center on Elder Abuse estimates that the annual loss of elderly financial exploitation was estimated to be nearly $3 billion in 2009.

The Silver Ribbon Community Partners is a United Way agency formed in 1996 which works to raise community awareness regarding the prevention of abuse, neglect or exploitation of elderly and disabled. IN November 2014, Silver Ribbon received an excellence award from the State of Texas’ Adult Protective Services for the third year in a row.

Silver Ribbon Community Partners Facebook page.

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

Delbert Modlin, Elder Law Attorney Facing Multiple Securities Law Violations

December 29, 2014- McClellan, CA

The Sacramento Bee reports that attorney Delbert Joe Modlin, a self professed champion for the elderly, who was arraigned on felony charges of elder abuse, grand theft and securities fraud in August 2014, has been named in a ‘cease and desist’ order filed by the Department of Business Oversight.

Modlin also  faces criminal charges in Placer County on 2011 charges that he defrauded a frail elderly couple from Auburn.

The August 2014 case involves a 90 year old man from North Highlands and his 66 year old daughter from Elk Grove. According to the allegations Modlin persuaded the father and daughter into investing $120,000 in a new cat litter box he purportedly had invented.

In the recent action, the state of California contends that Modlin unlawfully offered and sold securities for a company call Kool-Pets Inc. of Burlington, North Carolina, which is allegedly owned by his son Jeremy Modlin.

The DBO pleading alleges that Modlin failed to disclose to investors:

  • he has filed two chapter 7 personal bankruptcies
  • there are two separated criminal filings against him
  • that since 2010 he has lost hundreds of thousands gambling at Thunder Valley Casino Resort in Lincoln

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 Houston County Attorney Mitch McNab Pleads Guilty to Securities Fraud

December 17, 2014-Montgomery, Alabama

The Alabama Securities Commission announced that Frederick Mitchell “Mitch” McNab of Dothan, Alabama, pleaded guilty to 55 criminal charges , including 25 securities related charges which include:

  • Sale of Securities by Unregistered Agent
  • Sale of Unregistered Securities
  • Acting as an Unregistered Investment Adviser
  • Securities Fraud
  • Financial Exploitation of an Elderly Person

McNab’s victims lost over $10 million in the Ponzi scheme which involved using funds from new victims to pay “returns” to earlier victims.

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