Tag Archives: exploitation of seniors

Chase Investment Services, FINRA, J.P. Morgan Securities, StockBroker Misconduct

J.P. Morgan Broker in Oak Park, IL, Sanctioned by Securities Regulator

January 27, 2015-Oak Park, Illinois

Paul DeFilippis  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that in 2011 he became concerned about a 90 year old customer, with failing health and mental capabilities, who was withdrawing money to give to a younger woman who had a criminal record.

In order to help the elderly client conserve assets, DeFilippis set up a trust, closed the customer’s securities account, withdrew the money and transferred the customer funds into a new account. By causing the withdrawal of a bank customer’s funds and depositing them into an account in his own name, DeFilippis failed to observe high standards of commercial honor and just equitable principles of trade, in violation of FINRA Rule 2010.

DeFilippis was suspended by FINRA for two years and fined $5,000.

According to FINRA records, DeFilippis was registered with J.P. Morgan Securities from 10/2012-11/2013. Prior to that he was registered with Chase Investment Services.

Case # 2013039089201

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

Elder Financial Abuse, FInancial Exploitation of the Elderly, Maine Office of Securities, StockBroker Misconduct

Seminar On How to Avoid Financial Abuse/Exploitation Set for Maine Residents February 1st

January 27, 2015-Augusta, Maine

A public forum on how older citizens can successfully “Age in Place….At Home” will be held on Sunday, February 1, 2015, in Jewett Hall Auditorium at the University of Maine at Augusta Senior College. A snow date is set for the same time on February 22.

This is third in a series of forums. The panel of experts will include:

  • Judith Shaw, securities administrator for the Maine Office of Securities, and co-chair of the Maine Council for Elder Abuse Prevention
  • Denis Culley,  Legal Services for the Elderly’s first senior staff attorney
  • Nan Bell, community educator of the Family Violence Project

For further information, email [email protected], call 621-3551 or visit www.umasc.org

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

Energy Securities, Oil & Gas Investment, Oil & Gas Master Limited Partnership (MLP), Oil & Gas Royalty Trusts, Oil and Gas Partnerships, Oil related investments, StockBroker Misconduct

Oil & Gas Stock Losses May be Recoverable

January 25, 2015

With crude(WTI)  falling by more than 50%, closing at $45.59 last Friday, the stocks of oil & gas producers have fallen sharply as well. In the case of oil & gas related companies with high levels of debt, the percentage fall has far exceeded that of the commodity itself.

Summer of 2014 marked the high for most oil & gas related stocks. Here is a list of some of the more popular oil & gas related investments comparing the summer high to the price at the end of January 2015.

Company                                  Price Summer 2014              Price Jan 2015

Chesapeake Energy                           $31                                             $19.66

Continental Resources                     $81                                             $43

Goodrich Petroleum                          $29.60                                      $2.59

Halcon Resources                                $7.42                                          $1.48

LInn Energy                                              $32                                               $9.45

Oasis Petroleum                                   $57                                              $12.91

Sandridge Energy                                 $7.34                                          $1.30

Transocean                                               $46                                              $15.67

Whiting Petroleum                              $92                                              $28

Stock brokers have a duty to make suitable recommendations based upon the age, health, level of financial sophistication, risk tolerance and investment objectives of the client. If you have losses on oil and gas investments and feel that you were misled at to the risk associated with these investments, call to speak with an experienced securities attorney.

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

Elder Financial Abuse, Failure to Supervise, Fifth Third Securities, FInancial Exploitation of the Elderly, FINRA, Stockbroker Malpractice, StockBroker Misconduct, Undisclosed compensation, Unsuitable Investments

Fifth Third Securities Ordered to Pay Elderly Customer For Losses on Unsuitable Investments

January 16, 2015- Columbus, Ohio

A FINRA arbitration panel has ordered Fifth Third Securities and broker Vasumati Amin to pay an elderly client $85,000, plus interest and costs after a  hearing to resolve claims that Fifth Third and Amin took advantage of the client in order to collect excessive and unwarranted  fees. Molleson v. Fifth Third, et al FINRA Case# 13-1510.

If you have questions about your account at Fifth Third Securities, contact us to speak with an experienced securities attorney.

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

Elder Financial Abuse, FInancial Exploitation of the Elderly, Misrepresentation, Oil & Gas Investment, Oil & Gas Master Limited Partnership (MLP), Oil & Gas Royalty Trusts, Oil and Gas Partnerships, Oil related investments, StockBroker Misconduct, Unsuitable Investments

Losses on Oil and Gas Investments ? They May Be Recoverable

January 22, 2015

Crude closed below $50 today and natural gas below $3/ mcf.

After five years of touting the fact that the U.S. has become energy independent, market forces led by OPEC and Saudi Arabia have chosen to remind us that until the U.S. is able to produce at a lower cost than the recent shale fracking technology permits, OPEC can nearly instantly cause a change in the world wide price of these commodities.

Investments in oil and gas have declined 50% or more in a very short period of time. For savvy sophisticated investors, these losses come with the territory. However, for investors whose portfolios were over-concentrated, ie; too large a percentage of the investors capital was invested in oil and gas, and for investors who were misled as to the risks associated with these investments, there are options which may enable the recovery of all or a part of these losses.

If you or one of your loved ones has suffered significant losses in oil and gas investments, including oil and gas stocks, oil and gas exchange traded funds (ETFs), oil and gas master limited partnerships or oil and gas private placements, contact us to discuss options available with an experienced securities attorney.

Brokers have an obligation to make recommendations to investors that are suitable and to ensure that the investor is capable of taking the risk associated with that investment.

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