Tag Archives: elder financial abuse

Glenn Lattz-Gradient Securities Broker-Discloses Pending Customer Suits-Lady Lake, FL

May 2018-Lady Lake, FL

The FINRA records of  Glenn Patrick Lattz ,   a  stockbroker who is employed by  Gradient Securities disclose 2 prior regulatory events, 2 pending customer disputes, 3 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 2015 the Florida Department of Financial Services placed Mr. Lattz on one year probation and assessed a fine of $3,500 to resolve allegations that Mr. Lattz made misrepresentations on an annuity application, misrepresented the terms and conditions of an annuity, and advertised an agency location that was not licensed or registered with the Department. Case #169403-15-AG.

In pending FINRA arbitration 18-01227, a customer of Gradient Securities alleges that from 12/2017-2/2018  Mr. Lattz liquidated the customer’s annuities subjecting them to penalties and losses. Damages of $150,000 are sought.

In a state court case 14-CA-9767, pending in Hillsborough County, FL, a customer of Mr. Lattz former employer, Legacy Financial Services, alleges elder abuse, negligence, misappropriation of funds and other claims in connection with the purchase of an insurance policy. Damages of $240,000 are being sought in that matter.

Glenn Lattz has been employed by Gradient Securities since 12/2009.

If you have losses in an account  handled by Glenn Lattz, contact us for a no charge consultation to learn how you may be able to recover 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, at no cost to you.

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

Sonya Camarco-Former LPL Financial Broker-Charged With Securities Fraud/Theft-Colorado Springs, CO

May 2018-Colorado Springs, CO

The FINRA records of  Sonya D. Camarco ,   a   former LPL FInancial broker was recently permanently barred from the securities industry by FINRA for failing to respond to a FINRA Notice of Suspension.

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.

Camarco has been charged with 25 counts of securities fraud and theft in a criminal proceeding pending in Douglas County, Colorado. According to the regulator statement on her FINRA disclosure report she withdrew funds from client accounts at LPL Financial  using third party check requests that were payable to C Investments and mailed to a post office box in Parker, Colorado. The checks were retrieved by Camarco who used the funds for her personal benefit.

There are several currently pending customer arbitrations on behalf of Carmarco’s victims.

Sonya Camarco was employed by LPL Financial from 2/2004 until 8/2017 when the theft was discovered and she was discharged.

If you have losses in an account  handled by Sonya Camarco, contact us for a no charge consultation to learn how you can recover 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, at no cost to you.

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

LPL Financial to Pay $26M to Resolve Regulatory Investigation

May 2018

The North American Securities Administrators Association (NASAA) announced that a settlement has been reached between state securities regulators and LPL Finanical requiring LPL Finanical to repurchase from investors certain securities sold since October 2006 and to pay civil penalties that could total $26 million or more.

The settlement was led by regulators from Alabama and Massachusetts and relates to unregistered, non exempt securities sold by LPL.

Regulatory sanctions are nothing new for LPL Financial. Their FINRA record discloses 111 prior regulatory events.

If you have questions about how your account has been handled by your advisor contact us for a no charge consultation to discuss your legal 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

Brian Berger-Former Newbridge Securities Broker-Sentenced for Fraud-Boca Raton, FL

April 2018-Boca Raton, FL

The FINRA records of former stockbroker Brian M. Berger disclose a pending regulatory matter and two prior regulatory matters, a criminal conviction, 4 customer disputes and a termination from employment.

In 7/2015 Berger  entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he failed to cooperate with a FINRA investigation into allegations that he had misappropriated funds from elderly customers while registered with Wells Fargo Advisors and MetLife Securities.As a result, Berger   was  barred from the securities industry.

There is an SEC administrative proceeding pending in connection with the misappropriation of funds.

In 2/2017, in the U.S. District Court for the Southern District of Florida in Miami, Berger pleaded guilty to wire fraud and was sentenced to 18 months and ordered to pay restitution of $372,643.

Over $300,000 has been paid in settlements to former customers of Berger.

According to FINRA records, Berger was registered with Wells Fargo Advisors in Boca Raton from 7.2010-7/2014 and with MetLife Securities from 7/2014-4/2015. After that he was briefly registered with Newbridge Securities from 4/2015-6/2015.

If you have questions about an account handled by Brian Berger, 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

Cryptocurrency Offerings Targeted by Texas Securities Regulators

April 2018- Austin, Texas

The Texas State Securities Board (TSSB) found widespread fraud in cryptocurrency offerings that were tied to virtual currencies and has issued a 14 page report which can be found here: Enforcement Report:Widespread Fraud Found in Cryptocurrency Offerings. 

Since September 1, 2017, the TSSB Enforcement Division has opened over 60 investigations related to cryptocurrency investments.

If you are considering such an investment, you would be wise to read the TSSB report.

A few highlights from the report:

  • Investigators found that most promoters of cryptocurrencies were not providing investors with their physical address. If you invest in a mystery company, particularly one located overseas, you’re at great risk of never recouping your money if the investment is a scam.
  • None of the 32 promoters being investigated by the TSSB were registered to sell securities in Texas.
  • Instead of relying on registered professionals to sell the investments, some promoters recruit investors to pitch the investment to friends and family by offering a finders fee. This is a multi-level marketing scheme exposing the recruits to civil and criminal enforcement actions.

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