Posts Tagged FINRA arbitration lawyer
Stockbroker Fraud Post – Brokers Back Away From Alternative Investments
Posted by admin in Fraud Recovery on May 17, 2013
Many of stockbroker fraud cases we see involve alternative investments – Real Estate Investment Trusts (REITs), Tenants in Common investments (TICs), private placements and exotic derivatives. In our experience, these investments are more prone to fraud and have problems because they are often thinly traded. Just 20 years ago, the types of investments commonly available [...]
Success Trades Securities In Trouble? FINRA Says Yes (stockbroker fraud post)
Posted by admin in Fraud Recovery on April 14, 2013
by Brian Mahany Success Trades Securities has a great name. They also have the financial backing of many NFL and NBA players. Regulators say that some of these players invested in the company in exchange for a promised rate of return between 12 and 26%. Banking news source bank rate.com says the average interest rate [...]
FINRA Arbitration Panel Slams Oppenheimer For Churning Customer’s Account
Posted by admin in Fraud Recovery on January 21, 2013
by Brian Mahany Although the stock market has been doing relatively well in recent months, not everyone makes money. For every winner there is a loser. For retired Texan Lloyd Gillespie, he was the big loser while Oppenheimer and his brokers were the winners. An arbitration panel from the Financial Industry Regulatory Authority (FINRA) agreed [...]
The Forgotten Investor (Protecting Investors From Fraud)
Posted by admin in Fraud Recovery on December 11, 2012
by Brian Mahany The headline in today’s Wall Street Journal reads “Insider – Trading Probe Widens.” Further down on the front page in smaller type is an article titled, “For Many Financial Advisers, Stocks Become A Hard Sell.” Is it any wonder why? While the Dow Jones Industrial Average is sitting at 13,200 this morning, [...]
Merrill Lynch Fined $1mm For Fraud
Posted by admin in Fraud Recovery on October 8, 2011
by Brian Mahany Brokerage giant Merrill Lynch was fined $1 million by the Financial Industry Regulatory Authority (FINRA) for failing to supervise one of its stockbrokers. That broker, Bruce Hammonds, defrauded investors out of over $1 million through a Ponzi scheme he conducted while working at Merrill Lynch. In addition to the fine, Merrill will [...]
Brokerage Giant Raymond James In Court Over Suitability Decision
Posted by admin in Legal Malpractice on August 2, 2011
by Brian Mahany Raymond James is a large broker dealer with dozens of offices nationwide. Occasionally one of their stockbrokers makes a mistake. No surprises there. Raymond James’ handling of the case, however, is shocking. Hurshel Tyler is in his late 80′s. In May he won a $1.7 million award from a FINRA arbitration panel. [...]
More Bad News for David Lerner Clients – “Unpriced Securities”
Posted by admin in Fraud Recovery on July 18, 2011
by Brian Mahany Just last week I spoke with a pleasant sounding woman who had invested heavily with a David Lerner Associates broker in an Apple REIT (real estate investment trust). She was calling for advice, although she claims she was promised that Lerner would buy back her securities. “At what price?” I asked. She [...]
SEC to Financial Planners – More Transparency Needed
Posted by admin in Fraud Recovery on April 25, 2011
by Brian Mahany Not a month goes by without at least one blog post on securities fraud and the FINRA arbitration process. FINRA is short for the Financial Industry Regulatory Authority. FINRA has become a powerful regulator in recent years and hasn’t been afraid to wield its disciplinary muscle. Compared to stockbrokers, self regulation of [...]
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