Tag Archives: rockwell global capital

Abed William Lulu-Former Worden Capital Broker- Discloses 6 Regulatory Event & Customer Suits – Melville, NY

June 2019-Melville, NY

The FINRA records of  Abed William Lulu ,  a  financial advisor previously employed by  Worden Capital Management disclose 6 regulatory events,  3 prior customer disputes, 4 outstanding judgments.

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.

Prior regulatory events for Lulu include:

FINRA case # 2017055568801 filed in 2/2018-Lulu failed to request termination of his previous suspension within the required time frame and was permanently barred from association with any FINRA member in any capacity.

FINRA case 2014040347901 was filed in 1/2016.   Without admitting or deny the findings, Lulu consented to the entry of findings that he failed to disclose that he was the subject of an IRS tax lien and a New York State tax lien.  He also provided false information to his member firm stating that he had no judgments or liens against him.   Lulu received a three month suspension and $5,000 fine.

In 2004,  the Colorado Division of Securities suspended Lulu as sanctions for allegations of unsuitable trading, unauthorized trading, unfair and dishonest dealings, securities fraud and failure to supervise.

In 8/2017,  a Laidlaw and Company (UK) Ltd. customer filed FINRA case #17-02227 alleging unsuitability and excessive trading.   That case settled for $23,000.

Lulu  discloses outstanding 2 currently outstanding Federal & StateTax Liens and 2 civil judgments.

Abed Lulu was registered with Worden Capital Management  from May to August of 2016.  . His prior employment in the financial industry includes Rockwell Global Capital, Rockwell Global Capital, Laidlaw and Company and Global Arena Capital.

If you have losses in an account  handled by Abed William Lulu , 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

Rockwell Global Capital Loses To Customer in Florida Arbitration Proceeding

November 24, 2014-Tampa, FL

In a recent arbitration proceeding before the Financial Industry Regulatory Authority (FINRA) Rockwell Global Capital was ordered to compensate an investor for losses suffered in his investment account. Frederick Griffin v Rockwell Global Capital, FINRA Case# 13-0295. 

In the case, before an all public, three person arbitration panel, the investor sought compensatory damages to his brokerage account of $200,000, attorney fees, interest costs and punitive damages on the following causes of action:

  • violation of the Florida Securities and Investor Protection Act
  • breach of fiduciary duty
  • common law fraud
  • excessive trading (churning)
  • breach of contract
  • restitution
  • negligence
  • negligent misrepresentation
  • omission
  • negligent supervision

After a 5 day hearing, the panel unanimously decided in favor of Mr. Griffin and awarded him:

  • Damages of $119,000 plus interest pursuant to the Florida Securities and investor Protection Act
  • Punitive damages of $119,000-based upon the fact the Panel found evidence of continued excess in fees being hidden from Mr. Griffin by Rockwell Global Capital while at they same time they were representing to Mr. Griffin that minimal or no commission charges were being assessed. The panel found that conduct to be fraudulent and the basis for the punitive award.
  • Attorney fees of $55,200
  • Costs of $12,632

The panel also assessed the entire FINRA hearing session fees of $10,125 against Rockwell Global Capital.

Punitive damages are awarded in legal proceedings, in addition to compensatory damages , as  punishment and and to serve as an example to others for malicious or particularly fraudulent acts.

Rockwell Global Capital is headquartered in Melville, New York.

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