Tag Archives: Worden Capital Management investigation

Brian Decker-Former Worden Capital Mgmt Broker-Barred From Securities Industry-New York

May 2018

FINRA records disclose that Brian K. Decker, a currently unregistered broker who last worked for Worden Capital Management and Legend Securities, is named in a currently pending customer dispute, has 10 prior customer disputes , a recent regulatory action barring him from the securities industry and 5 outstanding judgment/liens.

In currently pending FINRA Case 15-802, filed by a Florida resident,  a customer of Legend Securities alleges that Decker was not licensed to sell securities in Florida, made false statements of material fact, engaged in unauthorized transactions, failed to follow instructions, engaged in churning and stock manipulation and improperly used margin borrowing in the account. The customer is seeking damages of $150,000.

Brian Decker has been named in ten  other prior customer disputes, including:

  • A July 2015 settlement of $35,000 to a customer of Legend Securities alleging failure to supervise and unsuitable investments.
  • FINRA Case 14-2734, by a customer of Legend Securities  alleging violation of Colorado securities and consumer protection laws, negligence and common law fraud, settled for $14,999.
  • FINRA Case 12-1281, a customer of Legend Securities alleged breach of fiduciary duty, negligent supervision, and fraud settled for $75,000.

Decker was with Worden Capital Management from 4/2017-4/2018 and with Legend Securities 9/2009-11/2016.

In May 2018 Decker was permanently barred from the securities industry by FINRA to resolve allegations that he failed to cooperate with FINRA during an investigation into allegations of conversion. Decker failed to produce requested bank records and failed to appear to provide testimony. FINRA Case 2017055226501.  

If you have losses in an account handled by former   broker Brian Decker , call for a no charge consultation.

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

Worden Capital Brokers Gregory Dean and Donald Fowler Named in SEC Complaint

MAY 2018 UPDATESee this for update on pending customer disputes. 

ORIGINAL POST –January 2017-Syosset, NY

The U.S. Securities and Exchange Commission filed a complaint against two former J.D. Nicholas brokers alleging that they failed to perform adequate due diligence relating to the risks and rewards of frequent trading strategy in 27 customer accounts which earned over $800,000 in commissions. SEC v. Gregory T. Dean and Donald J. Fowler, Case 1:17-cv-00139. 

According to the Complaint, both Dean and Fowler have disciplinary histories. Nine of Dean’s customers filed FINRA arbitrations or complaints against him. Ten of Fowler’s customers filed arbitrations or complaints against him.

J.D. Nicholas (formerly A&F Financial Services) was incorporated in Florida in 1997 and maintained its offices in Syosset, NY.

Dean and Fowler are currently registered with Worden Capital Management. 

If you have questions about your account and the way it has been handled, call to discuss your options 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

Joseph O. Clemente, Jr. -Former J.D. Nicholas Broker-Discloses Customer Complaints

July 2016-Garden City, New York

The FINRA records of Joseph O. Clemente, Jr. ,  a  currently unlicensed stock broker who was last employed  by Worden Capital Management , disclose a pending customer dispute and a  prior finalized customer dispute, one of which alleges account churning.

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 FINRA Case# 13-01317 a customer of J.D. Nicholas & Assoc. alleged damages of $37,737  for losses related to the purchase of Celsion Corporation in January 2013. The case was settled for $7,500.

In  pending FINRA Case 14-03697 brought by a customer of J.D. Nicholas & Assoc. the customer alleges damages of $57,130 for churning, negligence, unsuitability, overconcentration and failure to supervise.

Joseph O. Clemente, Jr.  was employed by Worden Capital Managment from  11/2014-12/2015. Prior to that he was employed by J.D. Nicholas & Associates from 12/2011-11/2014.

If you have losses in an account handled by Joseph O. Clemente, Jr.   call to learn how you may be entitled to collect 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