Tag Archives: securities attorney

James T. Flynn-Former VOYA Financial Broker-Subject of Numerous Customer Suits Involving REITs-Greenville, SC

March 2019-Greer , SC

Our law firm recently filed several FINRA arbitrations against former VOYA Financial Advisors broker James T. Flynn. The claims by his former customers allege that Flynn made unsuitable recommendations and over concentrated the customers’ accounts in real estate investment trusts and other alternative, non liquid investments.

Flynn’s FINRA records  currently disclose  a recent regulatory suspension, 7 pending customer dispute, 18 prior customer disputes, 2 terminations from employment, a chapter 13 bankruptcy filing in 2013 and 3 outstanding judgment/liens.

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 September  2018, Flynn was permanently barred from the industry by FINRA for failing to respond to FINRA’s request for information in connection with a FINRA investigation.

Settlements with Flynn customers include:

In 12/2018 a customer of VOYA Financial was paid $50,000 to resolve allegations that Flynn made unsuitable investment recommendations beginning in 2014.

In 11/2018 a customer of VOYA Financial was paid $90,000 to resolve allegations that Flynn transferred assets from a 401K account into illiquid and unsuitable investments in violation of securities statutes.

In June 2018 a Voya Financial customer was paid $75,000 to resolve allegations that Flynn recommended unsuitable  alternative investments for the clients IRA and joint account.

In February 2018 a customer of Voya Financial Advisors was paid $32,912 to resolve allegations that a real estate investment trust (REIT) purchased in June 2015 was not suitable and that the customer was not aware of the risks involved or that the REIT wasn’t actively traded.

In September 2017 a customer of Voya Financial Advisors sought damages of $115,000, alleging that he questioned the suitability of real estate investment trusts (REITs) purchased in 2014 and 2015 and the replacement of a variable annuity policy. Voya paid the customer $167,673 to resolve the case in 9/2017.

In another recently resolved matter,  a customer of Voya Financial and Brookstone Securities alleged damages in connection with a $575,000 investment in annuities and real estate investment trusts (REITs). The customer alleged that they should not have been allowed to invest all of their retirement funds in unsuitable investments. In 8/2017, Voya paid the customer $196,788 to resolve the matter.

In February 2017  Flynn was discharged from Voya Financial Advisors who made the following allegation in connection therewith: “The representative provided misleading information to the Firm during a complaint investigation” related to a variable annuity.

Most recently, in 2/2018, Flynn was discharged from IFS Securities. The firm made the following allegation in connection with Flynn’s discharge: “Client alleges trading ahead of authorization.”.

Flynn discloses outstanding Federal Tax Liens of $256,165 and $18,837 and a Chapter 11 bankruptcy filing in 2013.

Jim Flynn, who is not currently registered, was employed by  IFS Securities from 2/2017-2/2018. . He was registered with Voya Financial Advisors 5/2013-2/2017, Capital Investment Group in Greer, SC, 7/2011-6/2013 and Brookstone Securities 9/2006-7/2011. Flynn discloses a business affiliation with Flynn Insurance Group and Flynn Wealth Management in Greenville, South Carolina.

If you have losses or questions about an account  handled by James  (Jim) T. Flynn , contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration. If you have information you believe would be helpful to our ongoing investigation of Jim Flynn, we would appreciate hearing from you.

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

Sebastian Wyczawski-Joseph Stone Capital Broker-Discloses $250,000 Customer Suit-Center Moriches, NY

March 2019- Center Moriches, NY

According to publicly available records , Sebastian Wyczawski (CRD #2835135),  a  stockbroker employed with Joseph Stone Capital, disclose one pending and one 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 June of 2018, a customer of Joseph Stone Capital filed FINRA case #18-02049  alleging common law fraud; breach of fiduciary duty; negligence; breach of contract; unsuitability; and over concentration.   The customer is seeking damages are $250,000 and the case is currently pending.

Sebastian Wyczawski  has worked with Joseph Stone Capital since July 2015.    He was with Cape Securities from August 2010 until June 2015.

If you have questions about an investment account handled by Sebastian Wyczawski, contact us for a no charge consultation to learn about 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 Rieman-Hennion & Walsh Broker- Discloses 4 Pending Customer Disputes-Parsippany, NJ

March 2019 – Parsippany, NJ

According to publicly available records  Brian Christopher Rieman  (CRD# 4427713) ,  a   registered stockbroker currently employed by Hennion & Walsh, Inc.,  disclose a 4 pending and one 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 the prior matter ,  a  Hennion & Walsh, Inc., customer  alleged poor performance and misrepresentation.   The case was settled for $44,055 in 11 2016.

The currently pending matters include:

In July 2018, a Hennion & Walsh, Inc., customer filed FINRA case 18-02623 alleging unsuitable investments beginning in 2009.   The alleged damages are $52,530.

In June of 2018,  Hennion & Walsh, Inc., customer filed FINRA case #18-02357 alleging unsuitable recommendations. Damages are unspecified.

In June of 2018 another Hennion & Walsh, Inc., customer filed a  dispute alleging unsuitable recommendations.   This case is also still pending.

In February of 2018, a Hennion & Walsh, Inc. customer filed FINRA case #18-00297 alleging unsuitable product recommendations and is seeking damages of $230,000.

Rieman has been employed by Hennion & Walsh,  Inc., since June 2001.

If you have losses in an account handled by Brian Reiman, 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

Robert Berg-Summit Brokerage Services Broker-Discloses Customer Dispute Alleging Aggressive Trading- Danbury, CT

March 2019 – Danbury, CT

According to publicly available records  Robert Eugene Berg   (CRD#1218879) ,  a  stockbroker who is currently registered with Summit Brokerage Services,  disclose 1 pending and 2 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 August 2002,  a Morgan Stanley customer filed case 02-04711 alleging fraud, conversion, breach of fiduciary duty, breach of contract and excessive concentration.   The case settled for $28,604.

In December 2018, a customer with Summit Brokerage Services, filed FINRA case 18-04448 alleging aggressive and speculative investment recommendations and is seeking damages of $75,000.   This case is still pending.

Berg has been employed with Summit Brokerage Services since May of 2014.   He was with Morgan Stanley from August 2006 until 2014. He discloses an affiliation with Berg Wealth Management in Danbury.

If you have questions about an investment account handled by Robert Berg,  contact us for a no charge consultation to learn about 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